We recorded other gains of RMB7.1 million in the seven months ended July 31, 2025 and other losses of RMB13.2 million in the seven months ended July 31, 2026, primarily due to (i) a shift from net foreign exchange gains in the seven months ended July 31, 2025 to net foreign exchange losses in the seven months ended July 31, 2026, mainly as a result of the appreciation of RMB against U.S. dollars, and (ii) the decrease in fair value gains on financial assets at FVTPL in relation to our investment in financial investment products and derivative financial instruments; partially offset by the impairment losses of property, plant and equipment in the seven months ended July 31, 2025 in relation to the relocation of a subsidiary’s operating premises, which rendered the remaining unamortized renovation costs irrecoverable through subsequent operations.
Financial Information · 第 213 页
This change was primarily due to (i) the net foreign exchange losses in 2025 in line with the appreciation of the RMB against the U.S dollars as compared to the net foreign exchange gains in 2024, and (ii) the impairment losses of property, plant and equipment in 2025 in relation to the relocation of a subsidiary’s operating premises, which rendered the remaining unamortized renovation costs irrecoverable through subsequent operations, partially offset by the fair value gains on financial assets at FVTPL in relation to our investment in financial investment products and derivative financial instruments.
Financial Information · 第 215 页
Our other gains decreased by 96.8% from RMB15.8 million in 2023 to RMB0.5 million in 2024, mainly due to a decrease in net foreign exchange gains, which was attributable to the appreciation of the RMB in 2024, together with the expansion of overseas operations, which increased our exposure to exchange rate fluctuations.
Our other income and gains, net decreased significantly from US$7.6 million in 2023 to US$2.3 million in 2024, and increased to US$7.0 million in 2025, which decreased from US$5.9 million in the six months ended June 30, 2025 to US$3.3 million in the six months ended June 30, 2026, primarily due to the fluctuations in net foreign exchange gains or losses.
Financial Information · 第 218 页
Our other income and gains, net decreased from US$7.6 million in 2023 to US$2.3 million in 2024, primarily due to net foreign exchange losses, which were mainly attributable to the depreciation of the Brazilian real, Renminbi and Euro against the U.S. dollar in 2024.
Financial Information · 第 228 页
Our other income and gains, net increased from US$2.3 million in 2024 to US$7.0 million in 2025, primarily due to net foreign exchange gains, which were mainly attributable to the appreciation of the Brazilian real, Renminbi and Euro against the U.S. dollar in 2025.
Our other income increased by 91.4% from RMB9.9 million in 2024 to RMB19.0 million in 2025, primarily due to an increase in government grants of RMB9.6 million received mainly to support the development of our molded glass vials project.
Financial Information · 第 216 页
Our other income decreased by 41.8% from RMB11.5 million in the six months ended June 30, 2025 to RMB6.7 million during the same period in 2026, primarily due to a decrease in government grants of RMB4.2 million.
Financial Information · 第 214 页
Our other income decreased by 10.7% from RMB11.1 million in 2023 to RMB9.9 million in 2024, primarily due to a decrease in government grants of RMB2.1 million, as we received non-recurring government grants to support our business development in 2023, with no similar government grants in 2024.
Our other income decreased by 54.6% from RMB33.9 million in 2024 to RMB15.4 million in 2025, primarily due to (i) a decrease in government grant of RMB11.2 million, (ii) a decrease in interest income of RMB3.1 million and (iii) a decrease in additional VAT deduction of RMB4.2 million.
Financial Information · 第 240 页
The decrease in government grants in 2025 was primarily attributable to the base effect of certain one-off grants of relatively large amounts received in previous years, including project-based subsidies in support of the industry in which we operates and those relating to our [REDACTED] application.
Financial Information · 第 233 页
Considering that our government grants accounted for merely 7.3% of our profit before tax for the five months ended May 31, 2026, and that our revenue and sales volumes of our products have both maintained their growth momentum throughout the Track Record Period, our Company is of the view that the fluctuation in government grants during the Track Record Period has not had, and will not have, a material adverse effect on our business operations or financial performance.
Our other net income decreased by 69.6% from RMB178.0 million in 2024 to RMB54.1 million in 2025, primarily due to a decrease in government grants relating to an one-off incentive policy in 2024.
Financial Information · 第 270 页
Our other net income increased by 21.0% from RMB147.2 million in 2023 to RMB178.0 million in 2024, primarily due to an increase in government grants as a result of a one-off subsidy program from local government.
Our other net income decreased by 70.4% from RMB16.7 million for the three months ended March 31, 2025 to RMB4.9 million for the same period in 2026, primarily due to (i) a decrease in interest income as we utilized more internal resources in research and development and business operations, and (ii) an increase in exchange loss in relation to fluctuations in exchange rates.
彤程新材料集团股份有限公司Red Avenue New Materials Group Co., Ltd.09607.HK
FY2024一次性议价购买收益9,680万元
During FY2024, we recorded a one-off bargain purchase gain arising from investment in an associate of approximately RMB96.8 million.
Financial Information · 第 208 页
the gains on disposal of investments in an associate of RMB14.4 million recorded during 6M2025 which were one-off in nature and did not recur in 6M2026
Our other gains of RMB19.9 million for the four months ended April 30, 2025 changed to other losses of RMB50.1 million for the corresponding period in 2026, primarily due to a change from net foreign exchange gains of RMB20.0 million to net foreign exchange losses of RMB50.6 million.
Financial Information · 第 236 页
Our other gains, net, changed from net gains of RMB32.8 million in 2024 to net losses of RMB39.4 million in 2025, primarily due to the decrease from net foreign exchange gains of RMB33.6 million in 2024 to net foreign exchange losses of RMB36.7 million in 2025, resulting from the depreciation of the U.S. dollar against the Renminbi, partially offset by an increase from net gains on disposal of derivative financial instruments of RMB4.1 million, resulting from exchange rate fluctuations between the U.S. dollar and Renminbi under currency swap arrangements.
Financial Information · 第 238 页
We recorded net other losses of RMB61.5 million for the six months ended June 30, 2026, compared with net other gains of RMB7.2 million for the six months ended June 30, 2025, primarily attributable to net foreign exchange losses of RMB65.6 million, compared with net gains of RMB6.3 million, as a result of the depreciation of the U.S. dollar against Renminbi.
Other income, gains and loss, net primarily comprises (i) value-added tax refunds related to the taxes we paid in connection with our sales, (ii) change in fair value of financial assets at FVTPL, (iii) bank interest income, (iv) government subsidies and (v) net foreign exchange gains or losses.
Financial Information · 第 172 页
Our other income, gains and loss, net decreased by approximately 92.6% from RMB13.6 million in the six months ended June 30, 2025 to RMB1.0 million during the same period in 2026, primarily attributable to a decrease in value-added tax refunds, primarily due to the change in the applicable VAT rate.
伊戈尔电气股份有限公司Eaglerise Electric & Electronic (CHINA) Co., Ltd.
2026年上半年其他收入因补助及退税减少而下降
Our other income decreased by 42.6% from RMB43.4 million for the six months ended June 30, 2025 to RMB24.9 million for the six months ended June 30, 2026, primarily due to (i) a decrease in VAT and other tax credits concessions from RMB15.9 million to RMB3.5 million primarily because the VAT-related policy benefits received during the period were lower compared to the same period in the previous year, and (ii) a decrease in other government grants from RMB11.5 million to RMB1.8 million was primarily attributable to a higher amount of one-off government grants received for project applications in 2025, which was partially offset by an increase in bank interest income from RMB5.1 million to RMB9.9 million primarily driven by higher USD interest income resulting from an increase in our USD-denominated bank deposits.
We recorded a net loss of RMB2.1 million for the six months ended June 30, 2026 compared to net gains of RMB1.6 million for the six month ended June 30, 2025, primarily because we recorded a net loss of RMB4.2 million in foreign exchange, resulting from the changes in the U.S. dollar exchange rate.
Financial Information · 第 202 页
Our other gains and losses shifted from a net gain of RMB2.0 million in 2024 to a net gain of RMB0.3 million in 2025, primarily because we recorded a net gain of RMB1.2 million in foreign exchange in 2024 while we recorded a net loss of RMB3.2 million in 2025 resulting from the changes in the US dollar exchange rate and the increase in our US dollar-denominated amount.
This stability was mainly due to the robust growth in our revenue and gross profit being largely offset by an increase in selling and marketing expenses to support market expansion, as well as substantial one-off [REDACTED] expenses incurred in connection with the [REDACTED].
Summary · 第 7 页
The amounts include the [REDACTED] expenses in connection with previous A share listing attempts and the [REDACTED] that are expensed in profit or loss.
Our other income and gains decreased by 64.7% from RMB5.1 million in the six months ended June 30, 2025 to RMB1.8 million in the six months ended June 30, 2026, primarily due to the decrease in government grants, as we gained relatively high government grants in the same period in 2025.
In 2023, 2024, and 2025 and the three months ended March 31, 2026, our other income, gains and losses, net amounted to RMB149.9 million, RMB139.9 million, RMB176.7 million and RMB24.4 million, representing 3.3%, 3.3%, 3.7% and 1.6% of our total revenue in the same year/period, respectively.
Financial Information · 第 211 页
In 2025, our net other income, gains and losses increased to RMB176.7 million from RMB139.9 million in 2024, primarily due to: (i) the recognition of net exchange gains of RMB17.6 million in 2025 as compared to net exchange losses of RMB20.9 million in 2024, mainly as a result of favorable foreign exchange rate movements; (ii) an increase in gain on disposal of intangible assets to RMB24.1 million in 2025 from nil in 2024, primarily due to higher proceeds from the disposal of certain non-patented technologies and trademarks; and offset by (iii) a decrease in government grants to RMB17.1 million 2025 from RMB30.1 million in 2024, mainly because government grants related to R&D projects in 2024 were recognized in profit or loss during the year upon the completion of the corresponding R&D projects.
We recorded net other income and gains of RMB74.7 million and RMB57.0 million in 2023 and 2024, respectively, and net other losses of RMB183.1 million in 2025.
Financial Information · 第 169 页
Our net other income and gains of RMB57.0 million in 2024 turned into net other losses of RMB183.1 million in 2025, primarily due to a net loss of RMB159.6 million on fair value changes from derivatives recognized in 2025, the reversal of VAT input tax super deductions and an increase in loss on discounting financial assets at FVTOCI.
Financial Information · 第 173 页
Our net other income and gains of RMB11.5 million for the three months ended March 31, 2025 changed to net other losses of RMB169.7 million for the corresponding period in 2026, primarily due to a net loss of RMB178.6 million on fair value changes from derivatives related to our raw material procurement activities recognized in the same period in 2026, together with an increase in loss on discounting financial assets at FVTOCI.
The exchange rate decreased from approximately RMB0.0445 per 100 IDR in January 2023 to approximately RMB0.0384 per 100 IDR in June 2026, representing a depreciation of the Indonesian Rupiah against Renminbi of approximately 13.7% during the Track Record Period.
Summary · 第 16 页
We actively manage our exposure through hedging arrangements with commercial banks, including forward foreign exchange transactions, to mitigate the impact of short-term exchange rate volatility.
Summary · 第 16 页
In the six months ended June 30, 2026, we had net exchange losses of RMB17.9 million.
The adjusted net profits (Non-IFRS Measure) in 2025 include a gain on disposal of an associate of RMB16.6 million and net foreign exchange losses of RMB18.2 million.
Summary · 第 8 页
Our other net income decreased from RMB1.9 million in 2024 to RMB0.9 million in 2025, primarily because of (i) unrealized exchange loss arising from the payables within the Group due to the depreciation of Rupiah against Renminbi during this period, partially relieved by (ii) the disposal gain we recognized by virtue of partial equity interests in an associate PT Ofero Technology Indonesia, with the remaining shareholding interests recategorized under other financial assets.
Financial Information · 第 245 页
Such disposal was completed for a consideration that represented a premium over our initial investment cost.
In 2025, other income primarily comprises a gain of S$5.5 million on the bargain purchase, in relation to the excess of fair value of identifiable net asset over aggregate of consideration transferred for the acquisition of Guthrie Engineering in July 2025.
Financial Information · 第 195 页
Our other income increased significantly from S$0.5 million in 2023 to S$1.7 million in 2024, primarily due to a gain of S$1.1 million on the bargain purchase of Fire-Guard, as the acquisition was concluded at a consideration below the fair value of the identifiable net assets acquired.
Financial Information · 第 201 页
This gain arose because the seller intended to exit a family-owned stake and transition the business to be under the Group with better capabilities and opportunities for growth.
After the Track Record Period, (i) approximately HK$[REDACTED] is expected to be accounted for as a deduction from equity upon [REDACTED]; and (ii) approximately HK$[REDACTED] is expected to be recognised as our expenses in our consolidated statement of comprehensive income from the financial statements for the year ending 31 December 2026.
Summary · 第 9 页
[REDACTED] should note that the financial performance of our Group for the year ending 31 December 2026 is expected to be adversely affected by the [REDACTED] mentioned above, which are non-recurring in nature.
For the years ended 31 December 2024 and 2025, and the five months ended 31 May 2025 and 2026, our income tax were nil, nil, nil and RMB55.7 million, respectively.
Financial Information · 第 257 页
The income tax expense amounting to RMB55.7 million for the five months ended 31 May 2026 represented the withholding income tax deriving from the payment received from Gilead Sciences under our license-out arrangement with it.