星光集团截至二零二五年九月三十日止六个月中期业绩报告

STARLITE HOLDINGS LIMITED• INTERIM REPORT 2025星光集團有限公司‧二零二五年中期業績報告 RESULTS The Group posted a loss of approximately HK$29 million forthesix months ended 30th September,2025,compared toprofit of approximately HK$7 million in the same period lastyear. The Group recorded about HK$429 million in revenuewhich decreased by approximately 16% compared with thesame period last year. During the reporting period, the global market continued tofacemultiple challenges.The development direction ofmonetarypolicies in major economies remained uncertain,whilegeopolitical tensions intensified.In particular,tradefriction between China and the US escalated again. The USimposedhigh tariffs on many countries globally,directlyaffectingexport orders.Some major customers,therefore,delayed their order plans. Given the pressure on the revenueside,it was difficult for the Group to make large-scaleadjustments to its operating scale and personnel structure inthe short term, which led to an increase in the proportion ofhumanresources costs and manufacturing expenses torevenue.At the same time,the increasingly fierce industrycompetitionand aggressive pricing strategies adopted bymarketparticipants to gain market share imposed furtherpressureon the Group’s gross profit margin,resulting in adecrease of approximately six percentage points compared tothesame period last year,which was the main reason forthe loss. In the face of the adverse factors above, the performance oftheGroup’s various plants was affected to varying extents.TheGuangzhou plant successfully maintained profitabilitythroughcontinuous promotion of automation and leanproduction; the Shaoguan plant turned from profit to loss onreduced export orders and intensified market competition; theSuzhou plant’s losses expanded due to delayed orders frommajor export customers affected by the new round of tariffsimposed by the US government. Although the Southeast Asiaplants actively undertook diverted orders, they also recordedlosses due to being in the ramp-up stage and increased unitproduction costs. STARLITE HOLDINGS LIMITED• INTERIM REPORT 2025星光集團有限公司‧二零二五年中期業績報告 Tradeprotectionism and regional conflicts will continue tobringuncertainty to global supply chains.The Group willremain highly vigilant, actively adjust its operating strategies,acceleratethe deployment of production capacity inSoutheast Asia to diversify geopolitical risks, and continue top r o m o t et e c h n o l o g i c a l i n n o v a t i o n a n d i n t e l l i g e n ttransformation to improve operational efficiency and reducecosts.Meanwhile,the Group will strengthen its efforts toexplorenon-traditional business areas such as e-commerce,high-end packaging, board games and cultural and creativeproductsof its own brand,TEAM GREEN®,in mainlandChina.Through industry-academia collaboration andtechnology introduction, the Group will enhance the addedvalueof its products and differentiated competitiveness,promotebusiness diversification and further consolidate itsmarketposition.Details are set out in“BUSINESS REVIEWAND PROSPECTS”. BUSINESS REVIEW AND PROSPECTS Overview During the period under review, the global printing marketwas undergoing profound structural adjustments. Geopoliticaldivisionand rising trade protectionism,particularly the UStariffpolicy against China,posed unprecedented challengestoexport-oriented printing enterprises in China.Tariffs notonly directly increased export costs and squeezed corporateprofitmargins but also triggered a restructuring of globalsupplychains,forcing enterprises to accelerate the shift ofproduction capacity to regions such as Southeast Asia. Facedwiththe radical changes in the external environment,theGroup adhered to a strategy that combined prudent operationwith active transformation. On the one hand, it strengthenedinternalmanagement,strictly controlled its costs andenhancedautomation and intelligent production levels toaddressthe challenge of squeezed profit margins;on theother hand, it actively adjusted its global production capacitylayoutand accelerated the construction of productioncapacity in Malaysia to mitigate tariff risks and better serveglobal customers. The Group will also increase its resourceinvestment in high-growth areas such as domestic packagingandcultural and creative products of its own brand,andcultivatenew profit growth points through technologicalinnovation and product upgrades. STARLITE HOLDINGS LIMITED• INTERIM REPORT 2025星光集團有限公司‧二零二五年中期業績報告 Despite external challenges, the Group continued to invest intechnologicalinnovation and achieved fruitful results.TheGroupobtained 14 new patents in total across its variousplants,including four new utility model patents in theGuangzhouplant,four new utility model patents and onedesignpatent in the Shaoguan plant,and five new utilitymodelpatents in the Suzhou plant,demonstrating theGroup’sstrong capabilities in process improvement andproductdevelopment.In addition,the Group activelyembraced the wave of digital