Legend Holdings Corporation Releases 2025 Annual Report on Corporate Bonds

Legend Holdings Corporation has officially announced the publication of its 2025 annual report on corporate bonds. The report, which contains the audited financial information for the year ended December 31, 2025, is prepared under the China Accounting Standards for Business Enterprises and is now available on the Shanghai Stock Exchange website.

Key Highlights for Investors

• Dual Accounting Standards: The Company has released its audited financials under both the China Accounting Standards for Business Enterprises (for bond investors) and the IFRS Accounting Standards (for shareholders and the Hong Kong market).
• Potential Discrepancies: There may be discrepancies between the audited financial information prepared under the two accounting standards. Investors are specifically cautioned to note these differences, as they could impact the interpretation of the Company’s financial health and performance.
• Price Sensitivity: The announcement advises shareholders and investors to exercise caution when dealing in the securities of the Company. Any significant variance between the two sets of financial statements could be potentially price-sensitive and may affect share values, especially if the China GAAP and IFRS numbers diverge materially.
• Accessibility: The IFRS-based audited financials and the Company’s annual results announcement dated March 31, 2026, are already published on the website of The Stock Exchange of Hong Kong Limited, providing investors transparent access to both versions.
• Corporate Leadership: The announcement is signed by Ning Min, Chairman, and includes a full list of executive, non-executive, and independent non-executive directors, highlighting the Company’s governance structure.

Implications for Shareholders

The publication of two sets of audited financial statements under different accounting standards is a critical disclosure. Any significant differences between China GAAP and IFRS results could be material, potentially influencing the Company’s valuation, investor confidence, and share price. Investors should closely examine both reports for:

• Revenue Recognition — Different standards may affect reported revenues.
• Profit and Loss Figures — Variances in expense recognition could impact bottom line.
• Asset and Liability Valuation — Accounting policy differences may lead to notable changes in balance sheet items.

The Company has explicitly warned investors to exercise caution when trading its securities. This caution is likely due to the potential for market volatility if discrepancies are significant or interpreted negatively by the market.

Corporate Governance Update

As of April 28, 2026, the Board comprises:

• Executive Director: Mr. NING Min
• Non-executive Directors: Mr. ZHU Linan, Mr. ZHAO John Huan, Ms. CHEN Jing, Ms. YANG Hongmei
• Independent Non-executive Directors: Ms. HAO Quan, Mr. YIN Jian’an, Mr. YUAN Li

Action Points for Investors

• Review both the China GAAP and IFRS audited reports to gain a comprehensive understanding of the Company’s financial position.
• Monitor for any market reaction or commentary regarding differences between the two financial presentations.
• Exercise caution in trading, as advised by the Company, especially until any discrepancies are fully understood and priced in by the market.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should consult their own financial advisors and review the full audited reports before making any investment decisions. The Company has cautioned that differences in accounting standards may affect financial interpretation and share prices.

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