ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 MARCH 2026

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# ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 MARCH 2026

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# ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 MARCH 2026
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited (the
“Stock Exchange ”) take no responsibility for the contents of this announcement, make no representation
as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever
arising from or in reliance upon the whole or any part of the contents of this announcement.
GT Gold Holdings Limited
大唐黃金控股有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock code: 8299)
ANNUAL RESULTS ANNOUNCEMENT
FOR THE YEAR ENDED 31 MARCH 2026
The board (the “Board”) of directors (the “Directors”) of GT Gold Holdings Limited (the “Company”),
together with its subsidiaries, (collectively, the “Group”) hereby announces the annual results of the Group
for the year ended 31 March 2026 together with the comparative audited figures for the year ended 31
March 2025, as follows:
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER
COMPREHENSIVE INCOME
2026 2025
Notes HK$ ’000 HK$ ’000
Revenue 5 1,966,154 1,314,101
Cost of sales (1,734,321) (1,210,297)
Gross profit 231,833 103,804
Other income 6 2,854 20,125
Other gains and losses, net 7 – 31,394
Selling and distribution expenses – (1,313)
Administrative expenses (40,153) (26,723)
Provision of expected credit losses (“ECLs”) on other
receivables and deposit, net (2,034) (691)
Operating profit 192,500 126,596
Finance costs 8 (15,555) (11,174)
Profit before tax 9 176,945 115,422
Income tax expense 10 (32,664) (20,503)
Profit for the year 144,281 94,919
1
2026 2025
Notes HK$ ’000 HK$ ’000
Profit for the year attributable to:
Owners of the Company 94,878 66,550
Non-controlling interests 49,403 28,369
144,281 94,919
HK cents HK cents
Earnings per share attributable to
owners of the Company
Basic 12 1.19 0.95
Diluted 12 1.19 0.92
Profit for the year 144,281 94,919
Other comprehensive income/(expense) for the year:
Item that may be reclassified subsequently to profit or loss:
Exchange differences arising from translation of financial
statements of overseas subsidiaries 50,624 (4,756)
Total comprehensive income for the year 194,905 90,163
Total comprehensive income for the year attributable to:
Owners of the Company 142,779 62,054
Non-controlling interests 52,126 28,109
194,905 90,163
2
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
2026 2025
Notes HK$ ’000 HK$ ’000
Non-current assets
Property, plant and equipment 1,274,285 1,002,413
Construction in progress 62,628 58,785
Right-of-use assets 9,873 9,677
Mining rights related assets 44,930 44,025
Deposits paid for acquisition of subsidiaries 168,260 –
1,559,976 1,114,900
Current assets
Inventories 14,217 401,184
Trade receivables 13 40,419 5,368
Deposits, prepayments and other receivables 62,616 123,223
Pledged bank deposits 5,120 5,000
Time deposits 15,000 –
Cash and bank balances 123,505 29,481
260,877 564,256
Current liabilities
Lease liabilities 249 244
Trade and other payables 14 154,887 482,544
Bonds 15,221 14,725
Tax payables 79,340 47,129
249,697 544,642
Net current assets 11,180 19,614
Total assets less current liabilities 1,571,156 1,134,514
Non-current liabilities
Lease liabilities – 180
Other payables 14 96,665 139,928
Borrowings 237,070 225,998
Loan notes 16,896 18,859
350,631 384,965
Net assets 1,220,525 749,549
Capital and reserves
3
2026 2025
Notes HK$ ’000 HK$ ’000
Share capital 8,467 7,428
Reserves 1,052,199 634,437
Equity attributable to owners of the Company 1,060,666 641,865
Non-controlling interests 159,859 107,684
Total equity 1,220,525 749,549
4
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
1. GENERAL INFORMATION
GT Gold Holdings Limited (the “Company”) was incorporated in the Cayman Islands as an exempted company with
limited liability under the Companies Law, Cap 22 (Law 3 of 1961, as consolidated and revised) of the Cayman Islands.
Its principal place of business in Hong Kong is Room A–B, 8th Floor, Centre Mark II, 305–313 Queen’s Road Central,
Sheung Wan, Hong Kong. The Company’s shares are listed on GEM of The Stock Exchange of Hong Kong Limited (the
“Stock Exchange”). The Company’s controlling shareholder is Mr. Ma Qian Zhou.
The principal activity of the Company is investment holding. Its subsidiaries (together with the Company collectively
referred to as the “Group” hereinafter) are principally engaged in gold exploration, mining, mineral processing and
gold refinery.
The consolidated financial statements are presented in Hong Kong dollars (“HK$”), which is the functional currency of
the Company, with values rounded to the nearest thousand. The functional currency of the Group’s operating subsidiary,
Tongguan Taizhou Mining Company Limited (“Taizhou Mining”), is Renminbi (“RMB”).
2. BASIS OF PREPARATION
These consolidated financial statements have been prepared in accordance with HKFRS Accounting Standards, which
in collective term includes all applicable HKFRS Accounting Standards, Hong Kong Accounting Standards (“HKAS”)
and Interpretations issued by the Hong Kong Institute of Certified Public Accountants (the “HKICPA”) and accounting
principles generally accepted in Hong Kong. These consolidated financial statements also comply with the applicable
disclosure provisions of the Rules Governing the Listing of Securities on GEM of the Stock Exchange (the “GEM
Listing Rules”) and with the disclosure requirements of the Hong Kong Companies Ordinance (Cap. 622).
3. ADOPTION OF NEW AND REVISED HKFRS ACCOUNTING STANDARDS
(a) Application of new and revised HKFRS Accounting Standards
The Group has applied the amendments to HKAS 2 and HKFRS 1 Lack of Exchangeability of HKFRS
Accounting Standards issued by the HKICPA for the first time, which are mandatorily effective for the annual
period beginning on or after 1 April 2025 for the preparation of the consolidated financial statements.
The application of the amendments to HKFRS Accounting Standards in the current year has had no material
impact on the Group’s consolidated financial positions and performance for the current and prior years and/or on
the disclosures set out in these consolidated financial statements.
5
(b) New and revised HKFRS Accounting Standards in issue but not yet effective
The Group has not early applied new and revised HKFRS Accounting Standards that have been issued but are not
yet effective for the financial year beginning 1 April 2025. These new and revised HKFRS Accounting Standards
include the following which may be relevant to the Group.
Effective for
accounting
periods
beginning on
or after
Amendments to HKFRS 9 and HKFRS 7 – Classification and Measurement of Financial 1 January 2026
Instruments
Annual Improvements to HKFRS Accounting Standards – Volume 11 1 January 2026
Amendments to HKFRS 9 and HKFRS 7 – Contracts Referencing Nature-dependent Electricity 1 January 2026
Amendment to HKAS 21 – Translation to a Hyperinflationary Presentation Currency 1 January 2027
HKFRS 18 – Presentation and Disclosure in Financial Statements 1 January 2027
Amendments to HK Int 5 – Presentation of Financial Statements – Classification by the 1 January 2027
Borrower of a Term Loan that Contains a Repayment on Demand Clause
Amendments to HKFRS 10 and HKAS 28 – Sale or Contribution of Assets between an To be determined
Investor and its Associate or Joint Venture by the HKICPA
Except for the new HKFRS mentioned below, the directors of the Company anticipate that the application of all
other new and amended HKFRS Accounting Standards will have no material impact on the consolidated financial
statements in the foreseeable future.
HKFRS 18 “Presentation and Disclosure in Financial Statements”
HKFRS 18 will replace HKAS 1 “Presentation of financial statements”, introducing new requirements that
will help to achieve comparability of the financial performance of similar entities and provide more relevant
information and transparency to users. Even though HKFRS 18 will not impact the recognition or measurement
of items in the consolidated financial statements, HKFRS 18 introduces significant changes to the presentation of
financial statements, with a focus on information about financial performance present in the statement of profit
or loss, which will affect how the Group present and disclose financial performance in the financial statements.
The new accounting standard introduces the following key new requirements:
• Entities are required to classify all income and expenses into five categories in the statement of profit or loss,
namely the operating, investing, financing, discontinued operations and income tax categories. Entities are also
required to present a newly-defined operating profit subtotal. Entities’ net profit will not change.
• Management-defined performance measures (“MPMs”) are disclosed in a single note in the financial
statements.
• Enhanced guidance is provided on how to group information in the financial statements.
6
In addition, all entities are required to use the operating profit subtotal as the starting point for the statement of
cash flows when presenting operating cash flows under the indirect method.
The Group is currently assessing the impact of HKFRS 18, with respect to the structure of the Group’s statement
of profit or loss and other comprehensive income, the statements of cash flows and the additional disclosures
required for MPMs. The Group is also assessing the impact on how information is grouped in the financial
statements. Preliminary assessments indicate the following key impacts:
• The Group will need to reclassify certain income and expense items (e.g., interest income on certain
investments and foreign exchange gains/losses) into the new categories, namely investing and financing
categories.
• The Group will disclose certain MPMs (e.g., adjusted operating profits and adjusted EBITDA) in its
results announcements and the annual report. Under HKFRS 18, this will likely require additional
disclosure for the MPMs within the notes to the financial statements.
• The Statement of Cash Flows will also be impacted, as the operating profit subtotal will be the required
starting point for the indirect method.
The application of the new standard is not expected to have significant impact on the financial performance and
positions of the Group in terms of recognition and measurement.
4. SEGMENT INFORMATION
Information is reported internally to the Board, being the chief operating decision maker, for the purposes of resource
allocation and assessment of segment performance focuses on the types of goods delivered or services provided.
This is also the basis upon which the Group is organised and specifically focuses on the Group’s operating divisions.
No operating segments identified by the Board have been aggregated in arriving at the reporting segments of the Group.
The directors of the Company primarily use a measure of profit after tax to assess the performance of the operating
segments. However, the directors of the Company also receive information about the segments’ revenue and assets on a
monthly basis.
The Group has identified the following reportable segments:
(i) Gold mine which principally engages in the operation of exploration, mining, refinery and sale of gold and other
metals; and
(ii) Corporation which principally engages in investment holding.
Each of these operating segments is managed separately as each of the product and service line requires different
resources as well as marketing approaches.
Segment assets and liabilities are allocated based on the operations of the segments.
7
Segment information by operating segments is presented as follows:
Year ended 31 March 2026
Gold
operation Corporate Elimination Total
HK$’0

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