SMART FISH reported unaudited results for the six months ended 30 June 2026.

Revenue and Profitability • Revenue fell 12.4 % year-on-year to HK$30.17 million, reflecting lower contribution from financial investments and advisory services. • Gross profit declined to HK$25.75 million (2025: HK$31.53 million). • Loss before tax narrowed sharply to HK$10.90 million from HK$60.84 million a year earlier, mainly due to the absence of last year’s large fair-value loss on listed securities and a HK$5.82 million gain on investment properties. • Loss attributable to shareholders dropped to HK$10.88 million (2025: HK$53.80 million). • Basic loss per share was HK0.89 cent, calculated on a reduced share base of 1.23 billion shares after last year’s share consolidation.

Comprehensive Income and Equity • A HK$105.11 million fair-value gain on CMBC Capital shares lifted other comprehensive income to HK$104.49 million, turning total comprehensive result to a profit of HK$93.59 million (2025: loss of HK$61.34 million). • Equity attributable to shareholders increased to HK$812.68 million, while net assets rose to HK$816.41 million.

Segment Performance • Financial investments & services: revenue HK$12.88 million; segment profit HK$6.34 million. • Brokerage & commission: revenue HK$17.29 million; segment profit HK$0.45 million. • Corporate & others recorded a HK$15.31 million loss.

Balance Sheet and Liquidity • Cash and bank balances stood at HK$13.01 million; bank overdrafts expanded to HK$84.59 million. • Current ratio remained healthy at 2.29. • Gearing ratio (total borrowings/net assets) was 14.6 %. • Loan receivables from the money-lending arm totalled HK$491.93 million after provisions, generating HK$20.01 million interest income.

Investments • Listed equity and debt portfolio carried at fair value totalled HK$160.87 million, of which HK$147.07 million was in CMBC Capital Holdings. • Unrealised fair-value gains on listed securities reached HK$1.65 million, while realised losses on disposals amounted to HK$8.48 million.

Capital Movements and Events After the Period • No interim dividend declared; a special dividend of HK$2.80 million was paid earlier in the year. • On 3 July 2026 the company raised net proceeds of HK$39.30 million via a placing of 245.71 million new shares at HK$0.16 each. • On 24 July 2026 a conditional agreement was signed to dispose of 31.78 million CMBC Capital shares for HK$95.30 million.

Outlook Management highlighted plans to expand within Hong Kong and Mainland China’s property markets; during the period, two property acquisitions in Shenzhen and Qingdao were agreed for a combined RMB51.50 million. The board stated it will continue to follow a prudent credit policy and risk-management approach across its diversified finance, brokerage, asset-management and money-lending operations.