CORPORATE INFORMATION

CANSI CAYMAN LIMITED (the "Company") is a company incorporated in the Cayman Islands with limited liability. The registered office of the Company is located at Quality Corporate Services Ltd., Suite 102, Cannon Place, P.O. Box 712, North Sound Rd., George Town, Grand Cayman, KY1- 9006, Cayman Islands. The Company is an investment holding company. Its subsidiaries (together, the "Group") are principally engaged in the manufacturing, distribution and sale of canned food products, primarily fruit canned products, in the People's Republic of China (the "PRC").

The Company's authorised share capital is USD 50,000 divided into 50,000 ordinary shares of a par value of USD 1.00

each. Each ordinary share carries one vote and is entitled to participate equally in any dividend declared by the Company.

During the year ended 28 February 2026, the Company repurchased and cancelled 32,561 ordinary shares at par

value (USD 32,561) on 9 June 2025, and subsequently allotted and issued 2,561 new ordinary shares at par value (USD

2,561) on the same date. As at 28 February 2026, 20,000 ordinary shares have been issued and are fully paid-up, all

of which are held by CANSI CO., LTD., a company incorporated in the British Virgin Islands. The ultimate holding company and the ultimate controlling party of the Group are CANSI CO., LTD. The Company's functional currency is Singapore Dollars (S$), which is also the presentation currency of these consolidated financial statements. All values are presented in Singapore Dollars unless otherwise stated.

These consolidated financial statements are presented for the year ended 28 February 2026, with comparative figures

for the year ended 28 February 2025.

BASIS OF PREPARATION

(a) Statement of compliance

These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB"). The consolidated financial statements have been prepared on a going concern basis. They were authorised for issue by the board of directors

on 16 September 2026.

(b) Basis of measurement

These consolidated financial statements have been prepared on the historical cost basis, except for the following material items in the statement of financial position:

– Financial assets at fair value through profit or loss are measured at fair value.

(c) Functional and presentation currency

These consolidated financial statements are presented in Singapore Dollars (S$), which is the Company's functional currency. The functional currency of the Company's significant subsidiaries operating in the PRC is Renminbi (RMB).

The financial statements of foreign operations are translated into S$ as described in the significant accounting policies below.

(d) Use of estimates and judgements

The preparation of these consolidated financial statements in conformity with IFRS requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are

recognised prospectively. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements, include:

– Impairment of trade receivables and other financial assets (expected credit loss model under IFRS 9);

– Useful lives and residual values of property, plant and equipment;

– Recognition and measurement of deferred tax assets, including the assessment of future taxable profits;

– Fair value measurement of financial assets at fair value through profit or loss, where cost is used as the best

estimate of fair value due to the inability to reliably measure fair value;

– Assessment of control over subsidiaries and non-controlling interests; and

– Provisions and contingencies.

(e) New and amended standards adopted by the Group

The Group has applied the following amendments for the first time for the annual period beginning on 1 March 2025:

– Amendments to IAS 1: Classification of Liabilities as Current or Non-current;

– Amendments to IAS 1 and IFRS Practice Statement 2: Disclosure of Accounting Policies;

– Amendments to IAS 8: Definition of Accounting Estimates;

– Amendments to IFRS 3: Reference to the Conceptual Framework;

– Amendments to IAS 21: Lack of Exchangeability.

The adoption of these amendments did not have any material impact on the Group's consolidated financial statements.

(f) New standards and amendments not yet adopted

A number of new standards and amendments to standards are effective for annual periods beginning after 1 March

2025 and have not been applied in preparing these consolidated financial statements:

– IFRS 17 Insurance Contracts (effective for annual periods beginning on or after 1 January 2023) – not applicable

to the Group;

– Amendments to IAS 12: Deferred Tax related to Assets and Liabilities arising from a Single Transaction (effective

1 January 2023);

– Amendments to IAS 1 and IAS 7: Supplier Finance Arrangements (effective 1 January 2024);

– Amendments to IFRS 10 and IAS 28: Sale or Contribution of Assets between an Investor and its Associate or

Joint Venture (effective date deferred indefinitely);

– IFRS 18 Presentation and Disclosure in Financial Statements (effective 1 January 2027).

The Group does not expect that the adoption of these standards and amendments will have a material impact on its consolidated financial statements in the period of initial application, except for IFRS 18 which may affect presentation and disclosure requirements.

SIGNIFICANT ACCOUNTING POLICIES

The significant accounting policies applied in the preparation of these consolidated financial statements are set out below. These policies have been consistently applied to all periods presented, unless otherwise stated.

(a) Consolidation

The consolidated financial statements comprise the financial statements of the Company and its subsidiaries as at 28

February 2026. Control is achieved when the Group is exposed, or has rights, to variable returns from its involvement

with the investee and has the ability to affect those returns through its power over the investee. Specifically, the Group

controls an investee if and only if the Group has: (i) power over the investee (i.e. existing rights that give it the current ability to direct the relevant activities of the investee);

(ii) exposure, or rights, to variable returns from its involvement with the investee; and (iii) the ability to use its power over the investee to affect its returns.

When the Group has less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and circumstances in assessing whether it has power over an investee, including:

– the contractual arrangement with the other vote holders of the investee;

– rights arising from other contractual arrangements; and

– the Group's voting rights and potential voting rights.

Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are deconsolidated from the date that control ceases. The acquisition method of accounting is used to account for business combinations by the Group.

Intercompany transactions, balances and unrealised gains on transactions between Group companies are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of subsidiaries are adjusted where necessary to ensure consistency with the policies adopted by the Group.

(b) Non-controlling interests

Non-controlling interests ("NCI") represent the portion of profit or loss and net assets of subsidiaries not attributable, directly or indirectly, to owners of the Company. NCI are presented in the consolidated statement of financial position within equity, separately from equity attributable to owners of the Company. Profit or loss and each component of other comprehensive income are attributed to owners of the Company and to non-controlling interests. Total comprehensive income of subsidiaries is attributed to owners of the Company and to non-controlling interests even if this results in the non-controlling interests having a deficit balance.

Changes in the Group's ownership interests in subsidiaries that do not result in the Group losing control over the subsidiaries are accounted for as equity transactions. The carrying amounts of the Group's interests and the noncontrolling interests are adjusted to reflect the changes in their relative interests in the subsidiaries. Any difference between the amount by which the non-controlling interests are adjusted and the fair value of the consideration paid or received is recognised directly in equity and attributed to owners of the Company.

(c) Business combinations

The Group accounts for business combinations using the acquisition method when control is transferred to the Group. The consideration transferred in the acquisition is generally measured at fair value, as are the identifiable net assets acquired. Any goodwill that arises is tested annually for impairment. Any gain on a bargain purchase is recognised in profit or loss immediately. Transaction costs are expensed as incurred, except if related to the issue of debt or equity securities.

The consideration transferred does not include amounts related to the settlement of pre-existing relationships. Such amounts are generally recognised in profit or loss. Any contingent consideration is measured at fair value at the date of acquisition. If an obligation to pay contingent consideration that meets the definition of a financial instrument is classified as equity, then it is not reremeasured and settlement is accounted for within equity. Otherwise, subsequent changes in the fair value of the contingent consideration are recognised in profit or loss.

(d) Revenue recognition

Revenue is recognised when control of goods is transferred to the customer, generally upon delivery and acceptance by the customer, at the amount of consideration to which the Group expects to be entitled in exchange for those goods, excluding amounts collected on behalf of third parties such as sales taxes. The Group's revenue is principally derived from the sale of canned food products.

A contract liability is recognised when a customer pays consideration (or the consideration is due) before the Group transfers goods to the customer. Contract liabilities are recognised as revenue when the Group performs under the contract.

The Group applies the following practical expedients and exemptions under IFRS 15:

– The Group does not adjust the promised amount of consideration for the effects of a significant financing

component as the period between when the Group transfers goods and when the customer pays is one year or less;

– The Group recognises the incremental costs of obtaining a contract as an expense when incurred if the

amortisation period would be one year or less.

(e) Financial instruments – recognition and derecognition

Financial assets and financial liabilities are recognised when the Group becomes a party to the contractual provisions of the instrument. Regular way purchases and sales of financial assets are recognised on the trade date, i.e. the date that the Group commits to purchase or sell the asset.

Financial assets are derecognised when the contractual rights to the cash flows from the financial assets expire, or when the Group transfers the financial assets and substantially all the risks and rewards of ownership to another entity.

Financial liabilities are derecognised when the obligation specified in the contract is discharged, cancelled or expired.

(f) Financial assets – classification and measurement

The Group classifies its financial assets into the following measurement categories under IFRS 9:

– Financial assets at amortised cost;

– Financial assets at fair value through other comprehensive income ("FVTOCI"); and

– Financial assets at fair value through profit or loss ("FVTPL").

The classification depends on the Group's business model for managing the financial assets and the contractual terms of the cash flows. The Group's financial assets comprise trade receivables, other receivables, bank balances and cash, and equity investments designated at FVTPL.

Trade receivables and other receivables that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortised cost. Bank balances and cash are also measured at amortised cost.

Equity investments that are not held for trading and for which the Group has not elected to irrevocably designate at FVTOCI are classified as FVTPL. The Group's investment in Dalian Zhenxin Canned Food Co., Ltd. is classified as FVTPL as the Group does not have significant influence over the investee.

(g) Financial assets – impairment

The Group recognises a loss allowance for expected credit losses ("ECL") on financial assets measured at amortised cost. The ECL is based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate.

For trade receivables, the Group applies the simplified approach permitted by IFRS 9, which requires expected lifetime losses to be recognised from initial recognition of the receivables. The Group uses a provision matrix to calculate ECL

for trade receivables, based on historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment.

For other financial assets measured at amortised cost, the Group applies the general approach and recognises ECL based on the 12-month ECL if there has not been a significant increase in credit risk since initial recognition, or lifetime ECL if there has been a significant increase in credit risk.

(h) Financial liabilities – classification and measurement

Financial liabilities are classified as either financial liabilities at FVTPL or financial liabilities measured at amortised cost. The Group's financial liabilities comprise trade payables, amounts due to directors, other payables and accruals, and borrowings, all of which are measured at amortised cost using the effective interest method.

(i) Offsetting financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the consolidated statement of financial position if there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, or to realise the assets and settle the liabilities simultaneously.

(j) Property, plant and equipment

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes expenditure that is directly attributable to the acquisition of the items. Subsequent costs are included in the asset's carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably.

The carrying amount of any replaced component is derecognised. All other repairs and maintenance are charged to profit or loss during the financial period in which they are incurred.

Depreciation is calculated using the straight-line method to allocate their cost to their residual values over their estimated useful lives, as follows:

– Machinery and equipment: 5 to 10 years;

– Motor vehicles: 5 years;

– Office and electronic equipment: 3 to 5 years;

– Office furniture and others: 5 years.

The assets' residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period. An asset's carrying amount is written down immediately to its recoverable amount if the asset's carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within other income, gains and losses, net in profit or loss.

(k) Leases

The Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

The Group applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value assets. The Group recognises lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying leased assets.

Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognised, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term

and the estimated useful lives of the assets.

The Group applies the short-term lease exemption for leases with a lease term of 12 months or less, and the lowvalue asset exemption for leases of underlying assets with a value of US$5,000 or less when new. Lease payments

associated with these leases are recognised as an expense on a straight-line basis over the lease term.

As at 28 February 2026, the Group did not have material lease arrangements that require recognition of right-of-use

assets and lease liabilities under IFRS 16.

(l) Inventories

Inventories are stated at the lower of cost and net realisable value. Cost comprises direct materials, direct labour and an appropriate portion of production overheads, and is calculated using the weighted average cost formula. Net realisable value is the estimated selling price in the ordinary course of business, less applicable variable selling expenses.

As at 28 February 2026, the Group did not carry material inventories as the production and inventory holding functions

are performed by related parties outside the consolidation scope.

(m) Income taxes

Income tax expense comprises current tax and deferred tax. Current tax and deferred tax are recognised in profit or loss except to the extent that they relate to a business combination, or items recognised directly in equity or in other comprehensive income.

Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of previous years.

Deferred tax is recognised in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is not recognised for:

– taxable temporary differences on the initial recognition of assets or liabilities in a transaction that is not a

business combination and that affects neither accounting nor taxable profit or loss;

– taxable temporary differences relating to investments in subsidiaries to the extent that the Group is able to

control the timing of the reversal and it is probable that they will not reverse in the foreseeable future; and

– deductible temporary differences on the initial recognition of assets or liabilities in a transaction that is not a

business combination and that affects neither accounting nor taxable profit or loss. Deferred tax assets are recognised for unused tax losses, unused tax credits and deductible temporary differences to the extent that it is probable that future taxable profits will be available against which they can be used. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realised. Unrecognised deferred tax assets are reassessed at each reporting date and are recognised to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.

Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, using tax rates enacted or substantively enacted at the reporting date. The measurement of deferred tax reflects the tax consequences that would follow the manner in which the Group expects, at the reporting date, to recover or settle the carrying amounts of its assets and liabilities.

(n) Foreign currency translation

In preparing the financial statements of each individual Group entity, transactions in currencies other than the entity's functional currency are recognised at the rates of exchange prevailing at the dates of the transactions. At the end of each reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the

rates prevailing at the date when the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated.

Exchange differences are recognised in profit or loss in the period in which they arise, except for exchange differences arising on the translation of qualifying net investments in foreign operations, which are recognised in other comprehensive income and accumulated in equity under the foreign currency translation reserve.

For the purpose of presenting consolidated financial statements, the assets and liabilities of the Group's foreign operations are translated into Singapore Dollars at exchange rates prevailing at the reporting date. Income and expense items are translated at average exchange rates for the period, unless exchange rates fluctuate significantly during that period, in which case the exchange rates at the dates of the transactions are used. Exchange differences arising, if any, are recognised in other comprehensive income and accumulated in equity under the foreign currency translation reserve.

(o) Provisions

Provisions are recognised when the Group has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. Provisions are reviewed at each reporting date and adjusted to reflect the current best estimate. If it is no longer probable that an outflow of resources embodying economic benefits will be required to settle the obligation, the provision is reversed.

Where the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, where appropriate, the risks specific to the liability. Where discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost.

(p) Employee benefits

The Group's employees are entitled to various employee benefits, including salaries, bonuses, social security contributions, housing fund contributions and other statutory benefits. Salaries, bonuses and social security contributions are recognised as an expense in the year in which the associated services are rendered by employees.

The Group operates defined contribution retirement benefit plans for its employees in the PRC, under which the Group is required to contribute to the state-managed retirement benefit schemes. The Group's contributions are charged to profit or loss as incurred. The Group has no legal or constructive obligation to pay further contributions if the state-managed schemes do not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Termination benefits are recognised as an expense when the Group is demonstrably committed, without realistic possibility of withdrawal, to a formal detailed plan to either terminate employment before the normal retirement date, or provide termination benefits as a result of an offer made to encourage voluntary redundancy.

(q) Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and demand deposits, and short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. Bank balances and cash in the consolidated statement of financial position comprise cash at banks and on hand and short-term deposits with an original maturity of three months or less. Other monetary funds representing time deposits that are frozen under pledge are excluded from cash and cash equivalents in the consolidated statement of cash flows.

(r) Related parties

A related party is a person or entity that is related to the Group. A person or a close member of that person's family

is related to the Group if that person: (i) has control or joint control of the Group; (ii) has significant influence over the Group; or (iii) is a member of the key management personnel of the Group or of a parent of the Group. An entity is related to the Group if any of the following conditions applies: (i) the entity and the Group are members of the same group; (ii) one entity is an associate or joint venture of the other entity; (iii) both entities are joint ventures of the same third party; (iv) one entity is a joint venture of a third entity and the other entity is an associate of the third entity; (v) the entity is a post-employment benefit plan for the benefit of employees of the Group or any related entity; (vi) the entity is controlled or jointly controlled by a person identified above; or (vii) a person identified above has significant influence over the entity or is a member of the key management personnel of the entity (or of a parent of the entity).

(s) Earnings per share

The Company is not a listed entity and its shares are not publicly traded. Accordingly, the Group has not presented earnings per share information as required by IAS 33, which applies only to entities whose ordinary shares or potential ordinary shares are publicly traded, or that file or are in the process of filing financial statements with a securities commission or other regulatory organisation for the purpose of issuing ordinary shares in a public market.

(t) Impairment of non-financial assets

At the end of each reporting period, the Group reviews the carrying amounts of its non-financial assets (other than inventories and deferred tax assets) to determine whether there is any indication of impairment. If any such indication exists, then the asset's recoverable amount is estimated. For goodwill and intangible assets that have an indefinite useful life, the recoverable amount is estimated each year at the same time, or more frequently if there is an indication of impairment.

The recoverable amount of an asset or cash-generating unit is the greater of its value in use and its fair value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. For the purpose of impairment testing, assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or groups of assets (the "cash-generating unit").

An impairment loss is recognised if the carrying amount of an asset or its cash-generating unit exceeds its recoverable amount. Impairment losses recognised in respect of cash-generating units are allocated first to reduce the carrying amount of any goodwill allocated to the units and then to reduce the carrying amounts of the other assets in the unit on a pro rata basis. An impairment loss in respect of goodwill is not reversed. For other assets, an impairment loss is reversed only to the extent that the asset's carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortisation, if no impairment loss had been recognised.

(u) Government grants

Government grants are not recognised until there is reasonable assurance that the Group will comply with the conditions attaching to them and that the grants will be received. Government grants are recognised in profit or loss on a systematic basis over the periods in which the Group recognises as expenses the related costs for which the grants are intended to compensate. Grants related to assets are presented as a deduction from the carrying amount of the related asset, and grants related to income are presented as a credit in other income, gains and losses, net.

(v) Segment reporting

The Group is engaged in a single reportable segment, being the distribution and sale of canned food products in the PRC, with manufacturing functions performed by related parties outside the consolidation scope. The Group's chief operating decision maker (the "CODM") reviews the consolidated financial results as a whole for the purpose of making decisions about resource allocation and performance assessment. Accordingly, no separate segment

information is presented under IFRS 8. All of the Group's non-current assets are located in the PRC, and all revenue is derived from customers in the PRC.

Consolidated Statement of Profit or Loss and Other Comprehensive Income

For the Period from 1 March 2025 to 28 February 2026

Note

2026

2025

S＄

S＄

Revenue

78,835,263

47,166,357

Cost of sales

(68,529,853)

(42,239,733)

Gross profit

10,305,410

4,926,624

Other income, gains and losses, net

144,568

(77,025)

Selling expenses

(645,400)

(129,707)

Administrative expenses

(388,755)

(338,513)

Finance costs

(88,053)

1,972

9,327,770

4,383,351

(287,797)

(220,728)

9,039,973

4,162,623

9,039,973

4,162,623

– Owners of the Company

6,533,186

2,958,650

– Non-controlling interests

2,506,787

1,203,973

Profit/(loss) for the year

9,039,973

4,162,623

– Owners of the Company

6,533,186

2,958,650

– Non-controlling interests

2,506,787

1,203,973

Total comprehensive income/(expenses) for the year

9,039,973

4,162,623

Profit/(loss) before taxation Income tax expense Profit/(loss) for the period Total comprehensive income/(expenses) for the period Profit/(loss) for the period attributable to:

Total comprehensive income/(expenses) for the period attributable to:

Consolidated Statement of Financial Position

At 28 February 2026

Note

2026

2025

S＄

S＄

Non-current assets Property, plant and equipment

109,155

- Financial assets at FVTPL

1,058,967

-

1,168,122

- Current assets Trade receivables

26,591,206

13,889

Prepayments, deposits and other receivables

11,851,583

3,636,367

Other current assets

591,890

483,714

Bank balances and cash

11,571,336

8,342,078

50,606,015

12,476,048

Current liabilities Trade payables

33,766,793

1,075,726

Amounts due to directors

25,595

309,702

Contract liabilities

2,895,573

6,873,874

Other payables and accruals

2,109,897

168,495

Borrowings and overdrafts

19,481

- Tax payables

4,331

87,986

38,821,670

8,515,783

Net current assets

11,784,345

3,960,265

Total assets less current liabilities

12,952,467

3,960,265

Net assets

12,952,467

3,960,265

Capital and reserves attributable to owners of the Company Share capital

26,299

68,746

Reserves

9,513,546

2,980,360

Other comprehensive income

(3,872)

1,452

the Company

9,535,973

3,050,558

Non-controlling interests

3,416,494

909,707

Total equity

12,952,467

3,960,265

Total capital and reserves attributable to owners of

Consolidated Statement of Changes in Equity

At 28 February 2026

Attributable to owners of the Company Share capital Retained Foreign Non- earnings currency controlling translation interests Total equity reserve

S$

S$

S$

S$

S$

(Note 19) (Note 20) (Note 21) At 1 March 2024 -

21,710

-

(294,266)

(272,556)

Profit for the year -

2,958,650

-

1,203,973

4,162,623

Other comprehensive income for the year - -

1,452

-

1,452

Total comprehensive income for the year -

2,958,650

1,452

1,203,973

4,164,075

Issue of new shares

68,746

- - -

68,746

At 28 February 2025 and 1 March 2025

68,746

2,980,360

1,452

909,707

3,960,265

Profit for the year -

6,533,186

-

2,506,787

9,039,973

Other comprehensive income for the year - -

(5,324)

-

(5,324)

Total comprehensive income for the year -

6,533,186

(5,324)

2,506,787

9,034,649

Repurchase of issued shares

(42,447)

- - -

(42,447)

At 28 February 2026

26,299

9,513,546

(3,872)

3,416,494

12,952,467

Consolidated Statement of Cash Flows

For the Period from 1 March 2025 to 28 February 2026

2026

2025

S$

S$

9,327,770

4,383,351

Depreciation of property, plant and equipment

18,459

- Gain on disposal of property, plant and equipment

1,521

- Interest income

(1,968)

(532) (39) -

9,345,744

4,382,819

Cash flows from operating activities Profit before tax Adjustments for:

Dividend income from equity investments Operating cash flows before movement in working capital Changes in working capital:

Trade receivables

(26,577,317)

(13,889)

Other receivables, deposits and prepayments

(8,215,216)

(3,636,367)

Trade payables and trade accruals

32,691,066

1,075,726

Other payables and accrued expenses

1,941,402

168,495

Contract liabilities

(3,978,301)

6,873,874

Net cash generated from/(used in) operating activities

5,207,377

8,850,659

(1,058,967)

- Purchase of property, plant and equipment

(129,255)

- Other payments for investing activities

(809,378)

(508,581)

Net cash used in investing activities

(1,997,600)

(508,581)

Proceeds from borrowings and overdrafts

19,481

- Net cash used in financing activities

19,481

- Increase/(decrease) in cash and cash equivalents

3,229,258

8,342,078

Cash and cash equivalents at beginning of the financial year

8,342,078

- Cash and cash equivalents at end of the financial year

11,571,336

8,342,078

Cash flows from investing activities Purchase of financial assets at FVTPL Cash flows from financing activities

Notes to the Consolidated Financial Statements

For the Period from 1 March 2025 to 28 February 2026

1. REVENUE

2026

2025

S＄

S＄

Main operating revenue

78,835,263

47,166,357

Main operating cost

(68,529,853)

(42,239,733)

10,305,410

4,926,624

2026

2025

S＄

S＄

Taxes and surcharges

109,686

82,894

Interest income

(1,968)

(532) Other income

(253,768)

(5,337)

Investment income (39) - (Gain)/loss on disposal of assets

1,521

-

(144,568)

77,025

2026

2025

S＄

S＄

630,296

129,707

1,266

- 312 -

13,526

-

645,400

129,707

2026

2025

S＄

S＄

Employee benefits expense

320,212

18,269

Depreciation expense

18,459

- Consulting Service Fee

18,177

309,559

Professional fees

9,861

7,485

Legal / secretarial fees

1,177

1,308

Other general expenses

20,869

1,893

388,755

338,514

2026

2025

S＄

S＄

Exchange (gains) and losses

47,549

(3,183)

Bank charges

40,504

1,211

2. OTHER INCOME, GAINS AND LOSSES, NET

3. SELLING EXPENSES

Employee benefits expense Travelling expenses Transportation expenses Termination benefits

4. ADMINISTRATIVE EXPENSES

5. FINANCE COSTS

Notes to the Consolidated Financial Statements

For the Period from 1 March 2025 to 28 February 2026

88,053

(1,972)

2026

2025

S＄

S＄

287,797

220,728

287,797

220,728

6. INCOME TAX EXPENSE

Current tax expense

7. PROPERTY, PLANT AND EQUIPMENT

Office and Office Machinery and Motor electronic furniture and equipment vehicles equipment others Total

S＄

S＄

S＄

S＄

S＄

Balance at 1 March 2025

- - - - - Cost - - - - - Valuation - - - - - - - - - - Additions

2,719

39,409

87,055

129,255

Disposals - -

(1,641)

-

(1,641)

2,719

37,768

87,055

127,614

2,719

37,768

87,055

127,614

- - - - -

2025

Cost or valuation

Balance at 28 February 2026

Representing: Cost Valuation Accumulated depreciation -

Balance at 1 March 2025

Depreciation charge -

8,643

9,825

18,555

Disposals - - (96) - (96)

Balance at 28 February 2026

-

8,547

9,825

18,459

2,632

29,221

77,230

109,155

Net carrying amount

Balance at 28 February 2026

8. FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS

The Group holds 2.0299% of the equity interest in Dalian Zhenxin Canned Food Co., Ltd. The investment is classified as a financial asset at fair value through profit or loss (FVTPL) under IFRS 9. Given that the fair value of this investment cannot be reliably measured, cost is used as the best estimate of its fair value. In addition, the cost of the investment

Notes to the Consolidated Financial Statements

For the Period from 1 March 2025 to 28 February 2026

remained unchanged throughout the financial year, with no additions, disposals or impairments recognised.

2026

2025

S＄

S＄

- -

- Dalian Zhenxin Canned Food Co., Ltd.

1,058,967

- Less: Proceeds from disposal of investments - -

1,058,967

-

1,058,967

-

2026

2025

S＄

S＄

Trade receivables – related parties

26,323,070

- Trade receivables – third parties

268,136

13,889

26,591,206

13,889

2026

2025

S＄

S＄

26,590,901

13,889

305 -

26,591,206

13,889

2026

2025

S＄

S＄

7,697,703

- Interest receivable

334,569

- Other receivables

3,819,311

3,636,367

11,851,583

3,636,367

2026

2025

S＄

S＄

Input VAT

238,897

387,085

Input VAT pending verification

352,993

93,629

-

3,000

591,890

483,714

2026

2025

S＄

S＄

At beginning of the year Add: New investments purchased during the year At end of the year

9. TRADE RECEIVABLES

As at 28 February 2026, the ageing analysis of receivables is as follows:

Less than 1 year Over 1 year and less than 2 years

10. PREPAYMENTS, DEPOSITS AND OTHER RECEIVABLES

Dalian Zhenxin Canned Food Co., Ltd.

11. OTHER CURRENT ASSETS

Deposit & Prepayment

12. BANK BALANCES AND CASH

Notes to the Consolidated Financial Statements

For the Period from 1 March 2025 to 28 February 2026

Bank - CNY A/C

1,281,097

8,329,946

Bank - SGD A/C

12,512

658 Bank - USD A/C

1,098,395

8,474

3,000

3,000

9,176,332

-

11,571,336

8,342,078

2026

2025

S＄

S＄

33,766,793

1,075,726

33,766,793

1,075,726

2026

2025

S＄

S＄

Amount Owing to Director

6,852

9,702

Amount due to Zhou Liying (Director)

18,743

- Amount due to LI CHUAN (Director) -

300,000

25,595

309,702

2026

2025

S＄

S＄

2,895,573

6,873,874

2,895,573

6,873,874

2026

2025

S＄

S＄

Other payables - trade balances

1,912,678

116,794

Other payables - reimbursements

18,353

6,083

Accruals

4,116

-

174,750

45,618

2,109,897

168,495

2026

2025

S＄

S＄

Xie Dehai

73,411

- Beijing Xinzheng Wuge Technology Co., Limited

37,256

- Cash Other monetary funds

13. TRADE PAYABLES

Trade payables There are no significant trade payables outstanding for more than one year.

14. AMOUNTS DUE TO DIRECTORS

15. CONTRACT LIABILITIES

Contract liabilities There are no significant contract liabilities outstanding for more than one year.

16. OTHER PAYABLES AND ACCRUALS

Employee benefits payables Material other payables with ageing exceeding one year are as follows:

Notes to the Consolidated Financial Statements

For the Period from 1 March 2025 to 28 February 2026

Wutai County Junsheng Trading Co., Limited

2,926

-

113,593

-

2026

2025

S＄

S＄

19,481

-

19,481

-

2026

2025

S＄

S＄

2,338

296 Stamp duty 974 - Water conservancy construction fund 577

2,158

Urban maintenance and construction tax 257

2,159

Education surcharge 110

1,370

Local education surcharge 914 Land use tax

VAT

-

6,836

Current income tax expense -

74,251

4,331

87,986

2026

2025

S＄

S＄

26,299

68,746

26,299

68,746

17. BORROWINGS AND OVERDRAFTS

Loan from Ascentorenda Pte Ltd

18. TAX PAYABLES

Individual income tax

19. SHARE CAPITAL

CANSI CO., LTD.

During the year, the Company repurchased and cancelled 32,561 of its ordinary shares at par value. Subsequently, 2,561 ordinary shares

were allotted and issued at par value. As at 28 February 2026, 20,000 ordinary shares were issued and fully paid-up, all held by CANSI

CO., LTD.

20. RESERVES

2026

2025

S＄

S＄

Surplus reserves

147,857

136,775

Retained earnings

9,365,689

2,843,585

9,513,546

2,980,360

21. OTHER COMPREHENSIVE INCOME

Other comprehensive income represents exchange differences arising on the translation of the financial statements of the Group's foreign operations (whose functional currency is RMB) into the presentation currency (Singapore Dollars) for consolidation purposes.

2026

2025

Notes to the Consolidated Financial Statements

For the Period from 1 March 2025 to 28 February 2026

S＄

S＄

(3,872)

1,452

(3,872)

1,452

Foreign currency translation reserve

GROUP STRUCTURE

As at 28 February 2026, the Company has the following principal subsidiaries, all of which are consolidated in the

Group's consolidated financial statements. Unless otherwise stated, the subsidiaries are incorporated and operate in the PRC.

(a) Intermediate holding companies

Name of subsidiary Place of Principal activities incorporation

CANSI CANNED FOOD PTE LTD

Singapore Effective Effective ownership % ownership %

2026

2025

100% 100% 100% 100% Investment holding / Holding company Beijing Wuge Enterprise Management Co., Ltd.

Beijing, PRC Investment holding / enterprise management Dalian Wuge Holdings Co., Ltd.

Dalian, PRC Investment holding 100% 100% Dalian Zhenru Holdings Co., Ltd.

Dalian, PRC Investment holding 72% 72% Dalian Zhenru Canned Food Holdings Co., Ltd.

Dalian, PRC Investment holding 100% 100% Dalian Cansi Canned Food Sales Management Dalian, PRC Sales management and 99% 99% Co., Ltd.

distribution The non-controlling interests in Dalian Zhenru Holdings Co., Ltd. (28%) and Dalian Cansi Canned Food Sales Management Co., Ltd. and its subsidiaries (1%) are recognised in the consolidated financial statements.

(b) Operating subsidiaries (sales and distribution)

The following subsidiaries are directly or indirectly held by Dalian Cansi Canned Food Sales Management Co., Ltd.

with an effective ownership interest of 99% as at both 28 February 2026 and 28 February 2025. All are incorporated in

the PRC and principally engaged in the sale and distribution of canned food products. Name of subsidiary Place of incorporation / operation Zhenxin Canned Food Sales (Panjin) Co., Ltd.

Panjin, Liaoning Zhenxin Canned Food Sales (Huludao) Co., Ltd.

Huludao, Liaoning Zhenxin Canned Food Sales (Liaoyang) Co., Ltd.

Liaoyang, Liaoning Zhenxin Canned Food Sales (Yingkou) Co., Ltd.

Yingkou, Liaoning Zhenxin Canned Food (Benxi) Sales Co., Ltd.

Benxi, Liaoning Zhenxin Canned Food Sales (Shenyang) Co., Ltd.

Shenyang, Liaoning Shenyang Liaozhong District Nengshi Canned Food Sales Co., Ltd.

Shenyang, Liaoning Zhenxin Canned Food Sales (Baishan) Co., Ltd.

Baishan, Jilin Zhenxin Canned Food Sales (Liaoyuan) Co., Ltd.

Liaoyuan, Jilin Zhenxin Canned Food Sales (Yushu) Co., Ltd.

Yushu, Jilin Zhenxin Canned Food Sales (Songyuan) Co., Ltd.

Songyuan, Jilin Zhenxin Canned Food Sales (Changchun) Co., Ltd.

Changchun, Jilin Zhenxin Canned Food Sales (Jilin) Co., Ltd.

Jilin, Jilin

Notes to the Consolidated Financial Statements

For the Period from 1 March 2025 to 28 February 2026

Name of subsidiary Place of incorporation / operation Zhenxin Canned Food (Mudanjiang) Sales Co., Ltd.

Mudanjiang, Heilongjiang Zhenxin Canned Food (Jixi) Sales Co., Ltd.

Jixi, Heilongjiang Zhenxin Canned Food Sales (Suihua) Co., Ltd.

Suihua, Heilongjiang Zhenxin Canned Food (Hulunbuir) Sales Co., Ltd.

Hulunbuir, Inner Mongolia Zhenxin Canned Food (Harbin) Food Sales Co., Ltd.

Harbin, Heilongjiang Zhenxin Canned Food Sales (Langfang) Co., Ltd.

Langfang, Hebei Zhenru Canned Food (Dalian) Co., Ltd.

Dalian, Liaoning Zhenxin Canned Food (Wuchang) Food Sales Co., Ltd.

Wuchang, Heilongjiang Zhenru Food Sales (Tianjin) Co., Ltd.

Tianjin, PRC The above list comprises the Group's principal subsidiaries as at the reporting date. There were no material changes

in the Group's structure during the year ended 28 February 2026. No subsidiaries were established or disposed of

during the year.

RELATED PARTY TRANSACTIONS

Related party transactions are transactions between the Group and its related parties. In addition to the transactions and balances detailed elsewhere in these consolidated financial statements, the Group had the following significant related party transactions and outstanding balances during the year.

(a) Identity of related parties

The Group's related parties include:

– The Company's subsidiaries (which are eliminated on consolidation);

– Key management personnel of the Group, including directors and senior management;

– Entities in which key management personnel have significant influence or control.

The following entities are identified as the Group's related parties in accordance with the above definition:

– Dalian Dezhong Holding Co., Ltd. (Shareholder of the Subsidiary);

– Dalian Xinzheng Holding Co., Ltd. (Shareholder of the Subsidiary);

– Dalian Zhenxin Canned Food Co., Ltd. (equity investee of the Group, in which the Group holds 2.0299%

equity interest);

– Dalian Guozhen Fruit Processing Co., Ltd. (Subsidiary of Dalian Zhenxin Canned Food Co., Ltd.);

– Dalian Zhenxin Canned Food Sales Co., Ltd. (Under common control with the Subsidiary);

– Dalian Zhenguo Fruit Professional Cooperative (Its legal representative Xie Zhenguo is a shareholder and legal

representative of Dalian Xinzheng Holding Co., Ltd., which is a shareholder of the Subsidiary).

– Ascentorenda Pte Ltd (lender to the Group);

– Xie Dehai (related party individual);

– Beijing Xinzheng Wuge Technology Co., Limited (entity related to the Group's shareholders); and

– Wutai County Junsheng Trading Co., Limited (entity related to the Group's shareholders).

(b) Ultimate controlling party

The ultimate controlling party of the Group is CANSI CO., LTD.(c) Related party transactions during the year During the year, the Group entered into the following significant transactions with related parties:

Notes to the Consolidated Financial Statements

For the Period from 1 March 2025 to 28 February 2026

Nature of transaction Purchases of goods from Dalian Zhenxin Canned Food Co., Ltd.

Purchases of goods from Dalian Zhenxin Canned Food Sales Co., Ltd.

2026

2025

S$

S$

129,255

-

69,192,664

42,549,890

[Note: Sales of goods to Dalian Zhenxin Canned Food Co., Ltd. amount should be completed based on actual sales

records. The trade receivables balance of S$26,323,070 due from Dalian Zhenxin as at year-end indicates significant

related party sales during the year.]

(d) Outstanding balances with related parties

In addition to the amounts due to directors disclosed in Note 14, the Group had the following outstanding balances with related parties as at the reporting date:

Nature of balance / counterparty

2026

2025

S$

S$

Trade receivables – Dalian Zhenxin Canned Food Co., Ltd.

26,323,070

– Other receivables – Dalian Zhenxin Canned Food Co., Ltd.

7,697,703

– Other payables – Beijing Xinzheng Wuge Technology Co., Limited

37,256

– Other payables – Wutai County Junsheng Trading Co., Limited

2,926

– Other payables – Xie Dehai (related party)

73,411

– Borrowings – Ascentorenda Pte Ltd

19,481

– The above balances are unsecured, interest-free (except for the loan from Ascentorenda Pte Ltd), and are repayable on demand or within the normal credit terms. No impairment allowance has been recognised in respect of these

balances as at 28 February 2026, as there has been no significant increase in credit risk since initial recognition.

FINANCIAL RISK MANAGEMENT

The Group's activities expose it to a variety of financial risks: credit risk, liquidity risk and market risk (including foreign currency risk and interest rate risk). The Group's overall risk management programme focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the Group's financial performance. The Group does not engage in speculative trading of financial instruments.

(a) Credit risk

Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails to meet its contractual obligations. The Group is exposed to credit risk primarily from its trade receivables, other receivables, bank balances and cash, and financial assets at FVTPL.

The Group manages credit risk by establishing credit limits for each customer, performing ongoing credit evaluations, and monitoring the ageing of receivables. The Group's maximum exposure to credit risk is represented by the carrying amounts of its financial assets in the statement of financial position.

The carrying amounts of financial assets exposed to credit risk are as follows:

2026

2025

S$

S$

Trade receivables

26,591,206

13,889

Prepayments, deposits and other receivables (financial portion)

11,828,284

3,570,621

Bank balances and cash

11,571,336

8,342,078

Financial assets at FVTPL

1,058,967

–

Notes to the Consolidated Financial Statements

For the Period from 1 March 2025 to 28 February 2026

2026

2025

S$

S$

51,049,793

11,926,588

As at 28 February 2026, trade receivables of S$26,323,070 (2025: S$Nil) are due from a related party, Dalian Zhenxin

Canned Food Co., Ltd. The Group monitors the credit quality of this counterparty closely. No impairment loss was

recognised in respect of trade receivables during the year ended 28 February 2026 (2025: S$Nil), as the receivables

are not credit-impaired and the expected credit loss is not material.

(b) Liquidity risk

Liquidity risk is the risk that the Group will encounter difficulty in meeting obligations associated with financial liabilities that are settled by delivering cash or another financial asset. The Group manages liquidity risk by maintaining adequate cash and bank balances, monitoring cash flows, and ensuring sufficient availability of credit facilities.

The following table details the remaining contractual maturities of the Group's financial liabilities as at the reporting date, based on contractual undiscounted cash flows:

Carrying amount Less than 1 year 1–2 years Over 2 years

S$

S$

S$

S$

33,766,793

33,766,793

– –

25,595

25,595

– – Contract liabilities

2,895,573

2,895,573

– – Other payables and accruals

2,109,897

2,109,897

– – Borrowings and overdrafts

19,481

19,481

– –

38,817,339

38,817,339

– – Trade payables Amounts due to directors All of the Group's financial liabilities are due within one year or on demand. The Group's bank balances and cash of

S$11,571,336 as at 28 February 2026 are available to settle these obligations.

(c) Market risk – Foreign currency risk

The Group is exposed to foreign currency risk primarily through transactions denominated in currencies other than the functional currencies of the respective Group entities. The Group's transactions are principally denominated in RMB (the functional currency of the PRC subsidiaries), SGD (the functional currency of the Company) and USD.

The Company's functional currency is SGD. The PRC subsidiaries' functional currency is RMB. The Group's exposure to foreign currency risk arises mainly from:

– Cash and bank balances denominated in USD and SGD held by the PRC subsidiaries;

– Intercompany balances denominated in foreign currencies; and

– Translation of the PRC subsidiaries' financial statements into SGD for consolidation purposes.

The following table indicates the approximate carrying amounts of the Group's monetary assets and liabilities denominated in currencies other than the functional currency of the respective entities as at the reporting date:

2026

2025

S$

S$

USD-denominated bank balances

1,098,395

8,474

SGD-denominated bank balances

12,512

658

Sensitivity analysis: A 5% appreciation/depreciation of RMB against SGD as at 28 February 2026 would have

increased/decreased the Group's profit before tax by approximately S$55,545.35 and equity by approximately

Notes to the Consolidated Financial Statements

For the Period from 1 March 2025 to 28 February 2026

S$647,623, primarily through the translation of net assets of PRC subsidiaries. The analysis assumes all other variables

remain constant. The Group does not currently use derivative financial instruments to hedge its foreign currency exposure. The Group may consider implementing hedging strategies if foreign currency exposure becomes material.

(d) Market risk – Interest rate risk

The Group's exposure to interest rate risk arises primarily from its borrowings and interest-bearing bank deposits. As

at 28 February 2026, the Group's borrowings of S$19,481 are at fixed interest rates. The Group's bank balances and

cash include time deposits of S$9,176,332 which bear interest at fixed rates.

(e) Fair value estimation

The Group's financial assets at FVTPL are measured at fair value at each reporting date. The fair value of the equity investment in Dalian Zhenxin Canned Food Co., Ltd. is estimated using appropriate valuation techniques, including market approach and income approach, as the investment is not publicly traded.

The following table presents the fair value of the Group's financial instruments measured at fair value, categorised by level of the fair value hierarchy as defined in IFRS 13:

Financial assets at FVTPL – equity investment Level 1 Level 2 Level 3 Total

S$

S$

S$

S$

– –

1,058,967

1,058,967

Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3: Inputs for the asset or liability that are not based on observable market data (unobservable inputs).

The equity investment in Dalian Zhenxin Canned Food Co., Ltd. is classified as Level 3 as its fair value is determined using unobservable inputs. The significant unobservable inputs include the discount rate, expected growth rate and market comparable multiples.

The carrying amounts of all other financial assets and financial liabilities (including trade receivables, other receivables, bank balances, trade payables, other payables and borrowings) approximate their fair values due to their short-term nature.

CAPITAL RISK MANAGEMENT

The Group's objectives when managing capital are to:

– safeguard the Group's ability to continue as a going concern, so that it can continue to provide returns for

shareholders and benefits for other stakeholders;

– maintain a strong capital base to support the development and expansion of the Group's business; and

– provide an adequate return to shareholders through the optimisation of the debt and equity balance.

The Group manages its capital structure and makes adjustments in light of changes in economic conditions and the risk characteristics of the underlying assets. To maintain or adjust the capital structure, the Group may adjust the dividend payment to shareholders, return capital to shareholders, issue new shares, or take on additional debt.

The Group monitors capital on the basis of the gearing ratio, which is calculated as net debt divided by total capital. Net debt is calculated as total borrowings less bank balances and cash. Total capital is calculated as total equity plus net debt.

Notes to the Consolidated Financial Statements

For the Period from 1 March 2025 to 28 February 2026

2026

2025

S$

S$

19,481

– Less: Bank balances and cash

(11,571,336)

(8,342,078)

Net debt / (net cash)

(11,551,855)

(8,342,078)

Total equity

12,952,467

3,960,265

Total capital

1,377,313

(4,447,559)

Gearing ratio N/A (net cash position) N/A (net cash position) Total borrowings

As at both 28 February 2026 and 28 February 2025, the Group is in a net cash position with no significant borrowings.

The Group is not subject to any externally imposed capital requirements.

CONTINGENT LIABILITIES

As at 28 February 2026, the Group did not have any material contingent liabilities requiring disclosure.

EVENTS AFTER THE REPORTING PERIOD

The Group has evaluated subsequent events from the reporting date through the date of authorisation of these consolidated financial statements. There were no material events after the reporting date that require adjustment to or disclosure in these consolidated financial statements.

COMPARATIVE FIGURES

Comparative figures have been presented in respect of the statement of profit or loss, statement of financial position, statement of changes in equity, statement of cash flows and the notes to the consolidated financial statements for

the year ended 28 February 2025.

Certain comparative figures have been reclassified to conform with the current period's presentation. There were no material reclassifications during the year.

The comparative financial information for the year ended 28 February 2025 does not constitute the Group's statutory

financial statements for that period.

APPROVAL OF THE FINANCIAL STATEMENTS

These consolidated financial statements were approved and authorised for issue by the board of directors of the

Company on 16 September 2026.

_________________________

[XIE DEHAI]

Director Date: