Month: 2026-03

EQS via SeaPRwire.com / 31/03/2026 / 15:21 UTC+8 On March 30, Huitongda Network (9878.HK) announced its 2025 annual results. 2025 marked a pivotal year for Huitongda as it executed strategic upgrades and deepened its transformation, steering the Company toward high-quality development. The Company significantly improved its operating quality, with revenue for the year reaching RMB52.3 billion and profit rising 14.6% year-on-year (“yoy”) to RMB529 million. Gross profit margin increased by 18% yoy to 4.5%, while profit attributable to equity shareholders of the Company rose 11.3% yoy to RMB300 million. The Company also recorded net cash generated from operating activities of RMB419 million for the year, maintaining positive operating cash inflow for seven consecutive years. The three key financial indicators, namely gross profit margin, net profit margin, and net profit margin attributable to equity shareholders of the Company, all reached historical highs, fully demonstrating the continuous improvement in operational quality and profitability despite notable operational challenges and macro headwinds. In fact, the continuous improvement in operational quality and profitability following the strategic upgrades also marked the Company's entry into a new cycle of high-quality development, characterized by enhanced profitability, improved operating quality, and transformational upgrade. Enhancing Profitability and Quality: Strategic Upgrade Delivering Solid Results According to the results announcement, with profit and cash flow as its key priorities for the year, Huitongda focused its resources on high-growth sectors such as "technology-enabled" and "smart supply chain", achieving breakthrough progress across four key dimensions. In terms of building a smart supply chain, Huitongda has built an efficient supply chain system featuring reverse customization, short-chain distribution, and digitalization across multiple industries, launching three major projects, including the "Brand Express", "Self-owned Brand Ecosystem Development", and "Open-Platform Smart Supply Chain System". Benefiting from these initiatives, the gross profit margin of TOP brands increased by approximately 30% during the new product launch season, and the sales per store (member stores) increased by more than 40%. Meanwhile, revenue of new product categories such as fast-moving consumer goods and senior-friendly health products increased by more than 50% yoy. Sales of Huitongda's self-owned brands also exceeded RMB140 million, representing a yoy increase of 37%, with gross profit margin exceeding 40%. The Group also delivered outstanding results in the development and application of its AI products. To advance the smart upgrade of "AI + industries", the Company launched its retail-scenario-based "Qiancheng Cloud AI" vertical model, with the model completing the filing with the Cyberspace Administration of China during the year. The Company also reached a full-stack comprehensive AI cooperation with Alibaba Cloud, further expanding its offerings and boosting its AI-related revenue from zero to over RMB100 million, accounting for approximately 20% of total service revenue. Currently, retail stores and supply chain customers can conveniently utilize various intelligent agents through multiple platforms, such as the "Qiancheng AI Super Store Manager APP" and the "Qiancheng AI Portal" (ai.qcos.cn), supporting a wide range of operational tasks, including merchandise sourcing, e-commerce livestreaming and community marketing. In terms of new retail formats, Huitongda made significant breakthroughs by tapping into FMCG discount business, officially entering the retail chain sector through "hard-discount supermarkets". The first batch of hard-discount supermarkets opened in December 2025, marking the completion of major upgrades for Huitongda: from lower-tier markets to the broader nationwide market, from a pure "to-B" model to a "to-B plus to-C" model, and from a primary focus on high-value products that require strong customer experience and after-sales service (the so-called “three-high” categories) to a comprehensive product portfolio, creating a new growth driver in the process. Under the dual drivers of "Industry + Capital", Huitongda saw significant breakthroughs during the year, expanding its industrial footprint while expediting investments and acquisitions of high-quality and value-creating assets. Specifically, the Company acquired a 25% equity interest in A-share listed company Jin Tong Ling, a high-end manufacturer, and became its controlling shareholder, in an attempt to bridge “large consumption + intelligent manufacturing”. It also acquired a 57% equity interest in Boundary Consulting, a leading e-commerce AI company. According to the Company’s previous announcement, Boundary Consulting is expected to record net profit attributable to shareholders of no less than RMB85 million, RMB100 million and RMB115 million in the next three years, respectively. Through these strategic acquisitions, the Company has established a new growth framework of “large consumption + intelligent manufacturing + AI technology”, injecting fresh momentum into its future development. Driving Transformational Upgrades: Four Major Innovative Projects to Lead Future Growth, Accelerating Value Realization In the new era guided by the "15th Five-Year Plan", which emphasizes strategies such as "rejuvenating the lower-tier markets", "persistently expanding domestic demand", "optimizing and upgrading traditional industries", and "cultivating and expanding emerging and future industries", Huitongda will leverage its competitive advantage in the lower-tier markets to empower physical retail operators in urban and rural areas, supply chain partners, upstream manufacturers, and cutting-edge technology enterprises through "innovative supply chains" and "AI+", advancing its four major innovation initiatives and accelerating its transition into a new phase of value creation. First is to accelerate its development in retail chains and fast-moving consumer goods. In early 2026, Huitongda reached a strategic cooperation with the leading discount snack chain Ling Shi You Xuan (零食優選) to jointly operate its more than 2,800 stores nationwide. Going forward, Huitongda will rapidly expand its footprint through self-operation, joint ventures, mergers and acquisitions and other expansion models. By leveraging its supply chain and AI capabilities, the Company will strive to move rapidly into the industry’s leading tier, establishing presence and creating a new growth driver through hard-discount chains, bulk snack stores, community supermarkets, and convenience stores. Second is to focus on growing AI applications. Targeting the full value chain of retail operations, Huitongda will continue to strengthen its system and empowerment capabilities, focusing on "AI + Digital Intelligence + Hardware-Software Integration". On one hand, the Company will further strengthen the foundation of its vertical large model; on the other hand, it will accelerate the R&D and commercialization of AI agents, robots and other products and applications, so as to strengthen its technological entry barrier and servicing capability, and empower member stores, retail chain outlets and e-commerce merchants across multiple scenarios. Third is to build an intelligent technology services platform. Leveraging the end-to-end service capabilities for technology products developed through Huitongda's long-term and in-depth cooperation with leading brands such as Apple, along with the capabilities of its subsidiary Jujia Yuntong (居家運通), the Company is comprehensively upgrading its capabilities to build an “Intelligent Technology Product Services Platform”. The platform is expected to drive the market-oriented and scaled commercialization of cutting-edge technologies, such as embodied intelligence and brain-computer interface technologies, while providing full-cycle commercialization services for hard-tech enterprises. Fourth is to build an innovative supply chain platform centered on fast-moving consumer goods. Huitongda will continue to advance projects such as "Self-owned Brand Ecosystem Development" and "Brand Express", in an attempt to raise supply chain efficiency through centralized procurement, customization, self-owned brand development, AI, and big data applications. At the retail end, by covering various consumption touch points such as chain stores, private-domain channels and instant retail, it also aims to become an innovative supply chain service platform, serving all channels and adapting to new consumption patterns. In 2025, Huitongda has also completed the use of reserves to offset losses, clearing the obstacles for dividend distribution. In 2026, by balancing long-term development with shareholder interests, the Company will make comprehensive plans to continuously improve its return mechanism, actively sharing the development results with its shareholders through cash dividends and other means. At the same time, the Company has initiated an H-share buyback program and will strive to reward shareholders' trust by flexibly using buybacks and other tools based on prevailing market conditions. 2026 will be a critical year for Huitongda, marking its transition from strategic upgrades to value realization. Leveraging its strong position in lower-tier markets, and driven by the AI technology revolution, the transformation of new retail formats, and industrial capital, the Company will use AI to enhance operating efficiency, create industrial value through its supply chain capabilities, and unlock incremental growth through retail chains. At the same time, Huitongda will continue to advance its “Industry + Capital” strategy and pursue more high-quality M&A opportunities across retail chains, AI vertical applications, technology service platforms and innovative supply chains. Against the backdrop of deeper integration between technological and industrial innovation, improving circulation in the consumer market, and continued support for rural revitalization, Huitongda remains committed to creating sustainable long-term value for its partners and society. 31/03/2026 Dissemination of a Financial Press Release, transmitted by EQS News.The issuer is solely responsible for the content of this announcement.Media archive at www.todayir.com

EQS via SeaPRwire.com / 31/03/2026 / 11:22 UTC+8 Core Revenue Increased 26.9% yoy to HK$117.8 million Narrowing Adjusted LBITDA Supported by Improving Revenue Mix and Rising Gross Profit Margin of 7.0p.p. yoy Financial Highlights For the year ended 31 December 2025 HK$ million 2024 HK$ million Change Total Revenue 125.2 153.1 -18.2% Core Revenue* 117.8 92.9 +26.9% Gross Profit 31.1 27.3 +13.9% Gross Profit Margin (%) 24.8% 17.8% +7.0 p.p. Adjusted LBITDA (34.4) (41.2) -16.5% *Core revenue includes revenue from sales of electric vehicle charging systems, electric vehicles charging income, and maintenance, rental, and EV charging consultancy income (Hong Kong – 31 March 2026) A leading electric vehicle (“EV”) charging solutions provider – Cornerstone Technologies Holdings Limited (“Cornerstone” or the “Company”, stock code: 8391.HK, together with its subsidiaries, collectively the “Group”) is pleased to announce its audited financial results for the year ended 31 December 2025 (the “Year”). In 2025, the global shift toward electric mobility was accelerating at an unprecedented pace, driven by robust government policies promoting decarbonization, significant investment and innovation from leading automakers, and growing demand for sustainable transportation solutions. In this dynamic and competitive environment, Cornerstone has not only solidified its leadership in Hong Kong, but also made substantial progress in its international expansion strategy, especially in the high-potential Thailand market. Improving Revenue Mix, Expanding Margins, and Shrinking Adjusted LBITDA Leveraging its expansive charging network and growing user base, the Group recorded a notable increase in recurring revenue from its high-margin electric vehicles charging income, rising 85.3% year-on-year (“yoy”) to HK$44.2 million (2024: HK$23.9 million), accounting for approximately 35.3% of total revenue. As the Group continued to pivot away from labour-intensive, lower-margin projects, revenue from the provision of installation services saw a significant drop of 87.8% yoy to HK$7.4 million (2024: HK$60.3 million), dragging total revenue to decrease by a 18.2% yoy to HK$125.2 million (2024: HK$153.1 million). However, excluding the revenue contribution from the provision of installation services, core revenue (sales of electric vehicle charging systems, electric vehicles charging income, and maintenance, rental, and EV charging consultancy income) increased by 26.9% yoy to HK$117.8 million (2024: HK$92.9 million), highlighting its successful business transformation with growing recurring revenue performance. Revenue generated from markets outside of Hong Kong also experienced robust growth, surging by 69.3% to reach HK$41.4 million (up from HK$24.4 million in 2024). This significant upward trajectory directly reflects the successful execution of the Company’s strategic expansion into Southeast Asia. The accelerated growth in these new markets not only validates regional scaling initiative but also demonstrates growing ability to capture market share and diversify revenue streams beyond domestic base. Benefitted from the improving revenue mix, expanding user base, and higher charger utilization, the Group recorded a significant improvement in gross profit margin by 7.0 percentage points (“p.p.”) to 24.8% (2024: 17.8%), leading to an increase in gross profit of 13.9% yoy to HK$31.1 million (2024: HK$27.3 million), despite the decrease in total revenue. Along with stabilizing cost performance, the Group recorded a narrowing loss and a shrinking adjusted LBITDA for the Year of HK$115.2 million (2024: a loss of HK$144.2 million) and HK$34.4 million (2024: HK$41.2 million), respectively. Strengthening Leading Market Position in Hong Kong During the Year, the Group continued to expand its public charging business (Cornerstone GO) in Hong Kong. On the one hand, the Group entered into strategic collaborations with major automotive brands, including BYD, Xpeng, and Aion, becoming their preferred partner for EV charging solutions. By working closely with major car brands and offering charging credit bundles with new EV purchases, the Group has successfully boosted user acquisition and network utilization, with HK$5.4 million of charging credits sold in 2025. On the other hand, the Group also strengthened its strategic alliances with leading property developers and introduced preferential charging programs for partnered fleet operators to further drive penetration. As a result, as of 31 December 2025, Cornerstone GO has established a service network covering over 120 strategically located parking facilities with over 1,900 charging spots. Supported by the platform’s reliability, extensive coverage across key retail and commercial hubs, and its intuitive mobile app, membership growth remained robust, surpassing 76,800 users by year-end, laying a solid foundation for recurring revenue growth. Meanwhile, Cornerstone HOME, the Group's private service subscription business for resident buildings, also saw strong growth in its user base, reaching 1,117 subscribers by 31 December 2025. It has expanded its exclusive coverage to 51 residential car parks, incorporating its proprietary load-management system to optimize power distribution and ensure grid stability. This technological advantage reinforces its position as Hong Kong’s most trusted and preferred provider of home charging solutions. Growing Traction in the Thailand Market During the Year, the Group continued to advance its plan to become one of Thailand’s largest and most accessible public charging networks. While Thailand has shown exceptional receptivity to EV technology – reaching approximately 372,000 registrations by the end of 2025 – a significant infrastructure gap persists. With only 13,000 public chargers nationwide, the Group’s joint venture in Thailand, Spark EV, is seeing notable opportunities in the country's green transition, and is aggressively expanding its network to bridge this divide. As of 31 December 2025, Spark EV has completed construction of 181 charging stations, with 167 stations in operation. Membership in Spark also experienced exponential growth, surging from 5,895 as at 31 December 2024 to 97,129 as at 31 December 2025. To further accelerate growth, the Group has established key strategic partnerships with industry leaders, such as Grab, prominent logistics firms, and major automotive brands, all of which support high utilization across its network. Financially, although utilization rates for newly commissioned stations typically require a ramp-up period to build public awareness and membership growth, current performance has already significantly exceeded initial projections. The stronger-than-expected engagement underscores the robust demand for the Group’s infrastructure, reflecting the rapid adoption of EV charging solutions across its key markets. Outlook Riding on the momentum of the global EV and EV charging development, the Group is poised to expand its market presence and gain further market share in key markets. In Hong Kong, the Group will rapidly scale Cornerstone HOME and Cornerstone GO, boosting recurring income performance to ensure cash flow and long-term business sustainability. The Group will further strengthen its leading position in Hong Kong by expanding its charging network to support higher customer conversion, including active collaboration with ESSO oil and gas stations to build more EV charging stations across the city. The Group will also tap into commercial vehicle charging to expand its addressable market. Supported by the Hong Kong Government’s roadmap for zero vehicular emissions and subsidies for the deployment of 3,000 electric taxis and 600 electric buses, the sector is positioned for rapid growth. To capture these evolving opportunities, the Group has deepened its strategic collaborations with prominent taxi associations and logistics leaders, establishing itself as the ideal partner to power the city’s evolving transport landscape. To enhance user engagement and technology efficiency, the Group is preparing to launch a comprehensive loyalty program to incentivize frequent charging and reward its growing user community. This is expected to increase charging frequency, lower maintenance costs, and significantly raise station uptime, further improving the unit economics of the Group’s charging network. Regarding its overseas development, the Group will further strengthen its presence in Thailand and explore new opportunities across Southeast Asia. In addition to Thailand, the Group is finalizing a collaboration with Grab in Indonesia to provide charging solutions for its electric fleet. The Group is also actively exploring the Malaysian market, aiming to diversify its revenue mix and support accelerating growth. Mr. Yip Shiu Hong, Chief Executive Officer and Executive Director of Cornerstone Technologies, said, “We are encouraged by the notable progress over the past year, marked by a steadily expanding user base, a growing charging network, a broader geographical footprint, and an increasing emphasis on high-margin business. These advancements have translated into growing recurring income contributions from our Cornerstone GO and Cornerstone HOME, as well as a significant improvement in our gross profit margin, which underscores the strength and scalability of our business model.” “Looking ahead, we remain focused on driving higher network utilization and enhancing the unit economics in Hong Kong. We are also dedicated to accelerating our expansion across Thailand and the wider Southeast Asia region. Originally built around BCP’s network of gas stations, we are now planning a phase 2 expansion for our Thailand operations, tapping into diverse commercial and residential locations to further broaden our footprint. We have also made initial contacts in Malaysia and Indonesia, looking to replicate our success in Thailand to further expand our revenue streams. As electric vehicle adoption continues to gain momentum, we believe we are well-positioned to be a key beneficiary of the increasing demand for EV charging infrastructure. Through strategic initiatives and disciplined execution, we have strong confidence to deliver profitability in the short-term future.” -End- About Cornerstone Technologies Cornerstone Technologies Holdings Limited (8391.HK) is a leading provider of electric vehicle (EV) charging solutions in Hong Kong, offering integrated charging systems, charging equipment, and related accessories, as well as consultancy, installation, maintenance, and leasing services for charging infrastructure. In Hong Kong, its comprehensive solutions include private residential charging subscription services (Cornerstone HOME) and public charging networks (Cornerstone GO), with the latter already in operation across 118 strategic car parks, totaling over 2,000 charging points and more than 84,000 members. The Company is also expanding beyond the Hong Kong market, entering Thailand under the brand name of Spark EV, and actively exploring high-potential markets such as Malaysia and Indonesia. This press release is issued by DLK Advisory Limited on behalf of Cornerstone Technologies Holdings Limited. For enquiries, please contact: DLK Advisory Tel：+852 2857 7101 Fex：+852 2857 7103 31/03/2026 Dissemination of a Financial Press Release, transmitted by EQS News.The issuer is solely responsible for the content of this announcement.Media archive at www.todayir.com

EQS via SeaPRwire.com / 31/03/2026 / 09:31 UTC+8 According to Zhitong Finance App, despite mounting challenges in 2025, including aggressive price cuts by Chinese OEMs and intensifying competition, Wuling Motors (00305.HK) delivered a resilient performance underpinned by a diversified business portfolio and effective strategy execution. During the reporting period, Wuling Motors (the Group) recorded a total revenue of RMB 8.25 billion, representing a year-on-year increase of 3.8%. Its net profit reached RMB 172 million, up 54.3% year-on-year, while the profit attributable to shareholders amounted to RMB 78.99 million, marking a year-on-year increase of 56.0% and suggesting a notable improvement in overall profitability. As the Group’s “anchor” business, the automotive parts segment achieved a full-year revenue of RMB 5.788 billion, representing a year-on-year increase of 6.0%. The operating profit from this segment rose to RMB 185 million, up 20.3% year-on-year. Within its existing business foundation, the Group continued to expand new business with core customers including SGMW, Chery and Great Wall Motors, and secured 61 product supply orders across multiple key models of SGMW. For incremental markets, the Group successfully entered the supply chain systems of eight OEMs, including Seres AITO, SAIC Maxus and GAC Group, while actively engaging with emerging players such as Xpeng and Xiaomi on technical solution development. Meanwhile, the automotive power supply system segment turned profitable, delivering a full-year revenue of RMB 1.815 billion, representing a year-on-year increase of 4.5%. The Group continued to optimize its manufacturing footprint, strategically adding two production bases (Rizhao and Wuxi) in China, while advancing the preparation of its Vietnam facility to accelerate penetration into overseas markets, including Southeast Asia. In the high-end sector, the Group’s self-developed products, such as the 194-platform three-in-one electric drive axle and the high-power coaxial axle, achieved meaningful reductions in both cost and weight through highly integrated design. With industry leading NVH performance, these products have been supplied to OEMs including Great Wall Motors, JAC and Changan Kaicheng. Beyond the steady growth of its core businesses, Wuling Motors is accelerating its expansion into high-potential emerging segments. The unmanned logistics industry is currently transitioning from technical validation to large-scale commercialization, while facing challenges related to mass production capabilities and increasingly stringent regulatory requirements. These challenges underscore the Group’s core competitive strengths. The Group holds a market share exceeding 50% in key chassis components such as drive axles for urban logistics vehicles. Leveraging years of experience supplying urban and inter-city commercial vehicles, the Group has established mature technical pathways, sufficient production capacity and effective cost control that meet the cost reduction demands of logistics operators. In addition, the Group has comprehensive automotive-grade R&D and system integration capabilities. Building on its deep technical expertise and market insight, Wuling Motors established Yuancore Drive in November 2025, focusing on the R&D, production and system integration of drive-by-wire chassis and low-speed intelligent autonomous vehicles. A series of products has since been developed, and a strategic cooperation agreement has been signed with Desay Battery to accelerate commercialization. By further strengthening its traditional businesses while deepening its presence in emerging segments, Wuling Motors has established a clear growth matrix guided by its diversification strategy. As the automotive industry undergoes rapid transformation, the Group is charting a distinctive upgrade path, supported by its technological capabilities and manufacturing strengths. 31/03/2026 Dissemination of a Financial Press Release, transmitted by EQS News.The issuer is solely responsible for the content of this announcement.Media archive at www.todayir.com