Core Viewpoint - Vitasoy International Group Limited reported a revenue decline of 6% to HKD 3.227 billion for the first half of the fiscal year 2025/2026, primarily due to weak market conditions in mainland China, while net profit attributable to shareholders increased by 1% to HKD 172 million [1][2] Group 1: Financial Performance - The gross profit margin and operating profit margin for the group were 51.1% and 7.6%, respectively [1] - The mainland business maintained an operating profit margin of 11% during the mid-term financial period despite a decline in sales [2] - The company plans to distribute an interim dividend of HKD 0.04 per share on December 23 [1] Group 2: Market Strategy - The management emphasized the importance of enhancing commercial execution and product innovation to adapt to the rapidly changing external macro and competitive environment [1][3] - Vitasoy launched new products such as Vitasoy Duck Shit Lemon Tea, which contributed to an increase in market share in the ready-to-drink tea category [1][2] - The company is focusing on expanding its presence in the breakfast scene through a marketing campaign that integrates various media platforms to resonate emotionally with consumers [2] Group 3: Operational Adjustments - The company is implementing a multi-faceted strategy to address the revenue decline, including improving operational execution, launching innovative products, and adopting competitive pricing strategies [3] - Vitasoy is actively enhancing its sales team resources to ensure accelerated growth in core regions, particularly in southern China and Southeast Asia [3] - The company has been pursuing cost optimization measures, such as optimizing effective outlets and reducing unnecessary promotional expenditures [3]

Financial Data and Key Metrics Changes - For the six months ended September 30, 2025, the group's revenue decreased by 6% to HKD 3.2 billion compared to the previous year, primarily due to weak demand and competitive pricing in the Chinese mainland operation [2] - The gross profit margin decreased to 51.1%, with operational profits down by 4% to HKD 247 million, mainly due to a decline in gross profit [2] - Profits attributable to shareholders increased by 1% to HKD 172 million, aided by lower finance costs and income tax [2] - Earnings per share rose by 2% to HKD 16.2 [3] - Capital expenditure for the period was HKD 57 million, slightly higher than last year, with cash on hand at HKD 1.27 billion [3] Business Line Data and Key Metrics Changes - The Chinese mainland unit's total revenue was HKD 2.9 billion, down 7% year-on-year, with operating profit decreasing by 14% to HKD 326 million [8] - Hong Kong operations maintained strong performance, with an operating margin of 12%, down 1.7 percentage points [5] - Australia and Singapore units showed growth, with Australia-New Zealand revenue increasing from 8% to 9% of total group revenue [8][12] Market Data and Key Metrics Changes - The Chinese mainland unit accounts for 55% of total group revenue, while Hong Kong operations contribute 34% [8] - The plant milk category in China declined by 10%, and the tea category's growth slowed to 5% [9] - In Australia and New Zealand, revenue increased by 5% in local currency, reflecting growth in the plant milk market [12] Company Strategy and Development Direction - The company aims to enhance capabilities in the Chinese mainland to improve top-line performance, focusing on general trade and new channels like online commerce and snack chains [6][10] - In Hong Kong, the strategy includes accelerating top-line growth despite a slower retail environment [11] - The company is committed to cost control and efficiency improvements across all operations [5][15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged short-term challenges but expressed confidence in long-term growth potential [7][15] - The company is adjusting its commercial strategy in response to evolving tariff situations affecting North American business [12] - The focus remains on driving market share in both the plant milk and tea categories, with ongoing product innovations [10][11] Other Important Information - The company continues to drive cost reduction programs to improve profitability in various markets, including Singapore and the Philippines [13][14] - The Philippines market is experiencing healthy growth in the plant-based category, with a focus on scaling and profitability [14] Q&A Session Summary - No specific questions and answers were provided in the content, thus this section is not applicable.

Financial Performance and Key Metrics - For the six months ended September 30, 2025, the group's revenue decreased by 6% to HKD 3.2 billion, primarily due to weak demand, higher trade spend, and competitive pricing in the Chinese mainland operation [2] - The gross profit margin decreased to 51.1%, with savings from favorable raw material costs and production optimization partially mitigating the adverse sales performance [2] - Profits from operations decreased by 4% to HKD 247 million, mainly attributable to a decline in gross profit [2] - Profits to shareholders increased by 1% to HKD 172 million due to lower finance costs and income tax [2] - Earnings per share was HKD 0.16, an increase of 2% compared to last year [3] - Capital expenditure for the period was HKD 57 million, slightly higher than last year [3] - As of September 30, 2025, cash on hand was HKD 1.27 billion, with a gearing ratio of 20% [3] Business Line Performance - The Chinese mainland unit's total revenue was HKD 2.9 billion, down 7% versus last year, with operating profit decreasing by 14% to HKD 326 million [8] - Hong Kong operations maintained strong performance but were temporarily affected by Vitaland, Macau, and exports to the United States [5] - Australia and Singapore units sustained growth, with Australia-New Zealand revenue increasing by 5% in local currency [12] - The Hong Kong beverage operation sustained its leadership market shares in both plant milk and tea categories despite a slower retail environment [11] Market Performance - The Chinese mainland unit remains the largest operation by revenue at 55% of the group, while Hong Kong operations account for 34% of total group sales [8] - The plant milk category in China has declined by 10%, while the tea category's growth decreased from double digits to only 5% [9] - In Australia and New Zealand, the adoption of plant milk continues to develop steadily, contributing to revenue growth [12] - The Philippines market for plant-based products continues to grow healthily, with double-digit year-on-year growth since entry [14] Company Strategy and Industry Competition - The company is focusing on improving its capabilities in the Chinese mainland to enhance top-line performance, particularly in new retail channels [6][10] - In Hong Kong, the company aims to accelerate growth in the second half of the financial year [15] - The company is also working on improving its route to market in the general trade channel while expanding into new channels [10] - Cost control measures are being implemented to reduce corporate expenses and improve profitability [5][15] Management Comments on Operating Environment and Future Outlook - Management acknowledged the short-term challenges in the market but expressed confidence in the long-term potential for continuous scaling up [7][15] - The company plans to strengthen resources in the Chinese mainland to improve performance in general trade and accelerate growth in new channels [6][15] - The management highlighted the importance of creative product innovations to drive market share in Hong Kong [11] Other Important Information - The imposition of tariffs by the United States has negatively impacted the North American business, prompting adjustments in the commercial strategy [12] Q&A Session Summary - No specific questions and answers were provided in the content, thus this section is not applicable.

Financial Data and Key Metrics Changes - For the six months ended September 30, 2025, the group's revenue decreased by 6% to HKD 3.2 billion compared to the previous year, primarily due to weak demand and competitive pricing in the Chinese mainland operation [2] - The gross profit margin decreased to 51.1%, with profits from operations down 4% to HKD 247 million, mainly due to a decline in gross profit [2][3] - Profits attributable to shareholders increased by 1% to HKD 172 million, driven by lower finance costs and income tax [2] - Earnings per share rose by 2% to HKD 0.16 [3] - Capital expenditure for the period was HKD 57 million, slightly higher than last year, with cash on hand at HKD 1.27 billion [3] Business Line Data and Key Metrics Changes - The Chinese mainland unit's revenue was HKD 2.9 billion, down 7% year-on-year, with operating profit decreasing by 14% to HKD 326 million [7] - Hong Kong operations maintained strong performance, contributing 34% to total group sales, but faced challenges in Macau and exports to the United States [5][10] - Australia and Singapore units showed growth, with Australia-New Zealand revenue increasing by 5% in local currency [11] Market Data and Key Metrics Changes - The Chinese mainland remains the largest operation by revenue at 55% of the group, while Australia-New Zealand grew from 8% to 9% of total group revenue [7] - The plant milk category in China declined by 10%, while the tea category's growth slowed to 5% [8] - In the Philippines, the plant-based category continues to grow healthily, with double-digit growth year-on-year [13] Company Strategy and Development Direction - The company aims to enhance capabilities in the Chinese mainland to improve top-line performance, focusing on general trade and new channels like online commerce and snack chains [6][14] - Hong Kong operations will work to accelerate growth in the second half of the financial year [15] - Australia and Singapore units will focus on top-line growth and reducing operating losses [15] Management Comments on Operating Environment and Future Outlook - Management acknowledged short-term challenges but expressed confidence in long-term potential for scaling up [15] - The company is adjusting its commercial strategy in response to evolving tariff situations affecting North American business [11] Other Important Information - The company continues to implement cost reduction programs to improve operational efficiency and profitability across various markets [12] Q&A Session Summary - No specific questions and answers were provided in the content, thus this section is not applicable.

Financial Performance - Vitasoy's revenue decreased by 6% from HKD 3,443 million to HKD 3,227 million [7] - Gross profit decreased by 7% from HKD 1,777 million to HKD 1,648 million [7] - Profit from operations decreased by 4% from HKD 257 million to HKD 247 million [7] - EBITDA decreased by 4% from HKD 496 million to HKD 479 million [7] - Profit to shareholders increased by 1% from HKD 171 million to HKD 172 million [7] - Basic earnings per share increased by 2% from HKD 15.9 cents to HKD 16.2 cents [9] Capital Expenditure and Cash Position - Capital expenditure increased from HKD 45 million to HKD 57 million [11] - The company's net cash position slightly increased from HKD 1,268 million to HKD 1,274 million [13] Key Ratios - Gearing remained stable at 20% [15] - ROCE remained stable at 14% [15] - Dividend per share remained at HK4.0 cents [15] Business Performance by Geography - China's total revenue decreased by 7% to HKD 2,890 million [24, 28] and operating profit decreased by 14% to HKD 326 million [26, 28] - Chinese Mainland revenue decreased by 9% to HKD 1,778 million [24, 30, 32] and operating profit decreased by 12% to HKD 191 million [26, 30, 32] - Hong Kong Operation revenue decreased by 4% to HKD 1,112 million [24, 31, 38] and operating profit decreased by 15% to HKD 135 million [26, 31, 38] - Australia & NZ revenue increased by 2% to HKD 279 million [24, 43], but experienced an operating loss of HKD 22 million [26, 43] - Singapore revenue increased by 2% to HKD 57 million [24, 48], but experienced an operating loss of HKD 1 million [26, 48]

消息面上，维他奶国际今日午间公布截至2025年9月30日止6个月中期业绩，收入32.27亿港元，同比减 少6%；毛利16.48亿港元，同比减少7%；公司股权持有人应占溢利1.72亿港元，同比增长1%；每股基本 盈利16.2港仙，中期股息每股4港仙，同比持平。 智通财经APP获悉，维他奶国际(00345)午后跌超2%，截至发稿，跌1.92%，报6.65港元，成交额3379.55 万港元。 公告称，收入减少 6%，主要由于中国内地业务受市况疲弱影响，表现面临挑战。毛利率轻微下跌至 51.1%，主要由于贸易推广开支增加及中国内地产品售价下降，惟部分升幅被原材料成本下降及生产营 运效率提升所抵销。 ...

消息面上，维他奶国际今日午间公布截至2025年9月30日止6个月中期业绩，收入32.27亿港元，同比减 少6%；毛利16.48亿港元，同比减少7%；公司股权持有人应占溢利1.72亿港元，同比增长1%；每股基本 盈利16.2港仙，中期股息每股4港仙，同比持平。 维他奶国际(00345)午后跌超2%，截至发稿，跌1.92%，报6.65港元，成交额3379.55万港元。 公告称，收入减少6%，主要由于中国内地业务受市况疲弱影响，表现面临挑战。毛利率轻微下跌至 51.1%，主要由于贸易推广开支增加及中国内地产品售价下降，惟部分升幅被原材料成本下降及生产营 运效率提升所抵销。 ...

公告称，收入减少6%，主要由于中国内地业务受市况疲弱影响，表现面临挑战。毛利率轻微下跌至 51.1%，主要由于贸易推广开支增加及中国内地产品售价下降，惟部分升幅被原材料成本下降及生产营 运效率提升所抵销。 维他奶(00345)公布截至2025年9月30日止6个月中期业绩，收入32.27亿港元，同比减少6%;毛利16.48亿 港元，同比减少7%;公司股权持有人应占溢利1.72亿港元，同比增长1%;每股基本盈利16.2港仙，中期股 息每股4港仙。 ...

来源：新浪港股 公告称，收入减少 6%，主要由于中国内地业务受市况疲弱影响，表现面临挑战。毛利率轻微下跌至 51.1%，主要由于贸易推广开支增加及中国内地产品售价下降，惟部分升幅被原材料成本下降及生产营 运效率提升所抵销。 维他奶（00345）公布截至2025年9月30日止6个月中期业绩，收入32.27亿港元，同比减少6%；毛利 16.48亿港元，同比减少7%；公司股权持有人应占溢利1.72亿港元，同比增长1%；每股基本盈利16.2港 仙，中期股息每股4港仙。 ...

智通财经APP讯，维他奶(00345)公布，将于2025年12月23日派发中期股息每股4港仙。 ...