富士高实业中期报告 2025/2026

VISION願景 To become our customers’ preferred strategic partner in theacoustics and electronics industries. MISSION使命 Through advancements in innovative technologies, we strive toprovide value-added and distinct products to our customers. VALUES價值觀 We, as a partner, abide by our commitment to our customers.We, as an innovator, relentlessly pursue excellence.We, as a team, cross the finish line together.We, as a corporate citizen, devote ourselves to the prosperity ofour society. CONTENTS 2Management Discussion and Analysis管理層討論及分析7Report of the Directors董事會報告15Report on Review of InterimFinancial Information中期財務資料的審閱報告17Condensed ConsolidatedStatement of Financial Position簡明綜合財務狀況表19Condensed ConsolidatedStatement of ComprehensiveIncome簡明綜合全面收益表21Condensed ConsolidatedStatement of Changes in Equity簡明綜合權益變動表22Condensed ConsolidatedStatement of Cash Flows簡明綜合現金流量表24Notes to the CondensedConsolidated Interim FinancialInformation簡明綜合中期財務資料附註43Corporate Information公司資料 Management Discussion and Analysis管理層討論及分析 業務回顧 Business Review 20259306434,900,0002024516,400,00088,100,0002024121,200,0003,200,000202416,500,000 The operating environment remained uncertain during the sixmonths ended 30 September 2025 (the “Interim Period”), amidsignificant industry-wide challenges, primarily resulting from erraticU.S. tariff policies and broader macroeconomic headwinds. Thisuncertainty, particularly surrounding tariff developments, led towidespread caution across the industry, resulting in prolongedorder cycles and strategic adjustments to business plans. Withregard to Fujikon Industrial Holdings Limited (the “Company”) andits subsidiaries (together, the “Group” or “Fujikon”), its financialperformance was inevitably affected, with revenue amounting toHK$434.9 million (2024: HK$516.4 million), and gross profit standingat HK$88.1 million (2024: HK$121.2 million). Nevertheless, throughprudent cost-optimisation measures, including ongoing automationand workforce rightsizing, the Group effectively minimised its lossattributable to equity holders to HK$3.2 million (2024: profit ofHK$16.5 million). 業務分部分析 Business Segment Analysis 戴咪耳機及音響耳機 Headsets and Headphones 247,700,0002024274,200,00057.0% During the Interim Period, the headsets and headphones businessfaced considerable pressure from uncertain U.S. tariff policies,intensifying competition, and a challenging market landscape, allof which directly affected order volumes. Despite this, revenuefrom the segment remained relatively stable at HK$247.7 million(2024: HK$274.2 million), accounting for 57.0% of the Group’stotal revenue, owing to a diversified and reputable customer basethat spans multiple sectors. To further strengthen and stabilise thissegment’s income, Fujikon has continued to strategically restructurethe product mix toward offerings with longer life cycles. Notably, theGroup made significant progress in the automotive sector, initiatingproduction of co-developed products with a major customer thatsupplies several global automakers. These products, with typicallife cycles of seven to ten years, are expected to generate moreconsistent long-term revenue, promote profitability, and contributeto greater cost-efficiency. It is worth noting as well that the Grouphas commenced production of its flagship products in the gamingand Call Centre & Office (“CC&O”) segments, which also benefit fromextended product life cycles. Moreover, Fujikon has been activelyexploring opportunities in the healthcare and medical sectors tofurther diversify the segment portfolio. 業務分部分析 Business Segment Analysis(Continued) 配件及零件 Accessories and Components 187,100,0002024242,200,00043.0% D u r i n gt h e I n t e r i m P e r i o d ,s e g m e n t r e v e n u e r e a c h e dHK$187.1 million (2024: HK$242.2 million), which accounted for43.0% of the Group’s total revenue. The adjustment can be primarilyattributed to lingering uncertainties surrounding U.S. tariff policiesas well as the reporting of exceptionally high one-off orders from anew client during the corresponding period of last year. To supportthe ongoing development of the operation, Fujikon has continued tonurture ties with top-tier brands. 展望 Prospects 20253.0%20263.1%12024535.82025203420.50%20343,458.42 Against a backdrop of vague global trade policies and historicallyhigh tariffs, the International Monetary Fund projects globaleconomic growth will reach 3.0% in 2025 and 3.1% in 20261. In theconsumer electronics segment, one report estimates that the value oft h eg l o b a l e a r p h o n e s a n d h e a d p h o n e s m a r k e t r e a c h e dapproximately US$53.58 billion in 2024 and will grow at a compoundannual growth rate of 20.50% from 2025 to 2034, climbing toUS$345.84 billion by 20342. The Group has consequently adoptedmeasures to both navigate volatility, particularly stemming from U.S.tariff policies, and enhance its competitiveness to insulate itself fromthe unpredictable market conditions. The Group there