Company Overview: Techtronic Industries (TTI) Key Points Industry and Company - The report focuses on Techtronic Industries, specifically its Milwaukee and Ryobi brands within the tools and hardware industry [1][2]. Financial Performance - In 2025, Techtronic Industries achieved a revenue of 15.26 billion yuan, representing a year-on-year increase of 4.4%, driven by steady sales growth in Milwaukee and Ryobi [1]. - The net profit attributable to shareholders was 1.198 billion yuan, up 6.8% year-on-year, benefiting from strong performance in Europe, the Middle East, and Africa, cost-cutting measures, and improved leverage and profitability [1]. Profitability Metrics - The gross margin improved to 41.2%, an increase of 0.91 percentage points year-on-year, primarily due to the high-margin Milwaukee business and operational efficiency improvements in Ryobi and other consumer businesses [2]. - The operating expense ratio was 33.2%, up 0.6 percentage points year-on-year, with specific rates for sales, management, R&D, and financial expenses being 17.8%, 9.8%, 5.0%, and 0.6%, respectively [2]. - The net profit margin for 2025 was 7.9%, reflecting a year-on-year increase of 0.2 percentage points [2]. Business Segment Performance - **Electric Tools**: Revenue for the electric tools segment reached 14.4 billion USD, a year-on-year increase of 5.3%. Milwaukee's sales grew by 8.1%, with personal protective equipment (PPE) showing particularly strong performance [2]. - Milwaukee's sales growth could have reached 10.3% if not for the promotional impacts of tariffs in the second half of the year [2]. - **Ryobi**: Sales increased by 5.4%, with electric tools showing high single-digit growth. Ryobi continued to expand its user base for cordless products, enhancing market share despite a slight slowdown in U.S. housing transactions [3]. - **Floor Care and Cleaning**: This segment saw a revenue decline of 9.7%, totaling 810 million USD [3]. Regional Performance - North America recorded a sales growth of 3.5%, while Europe outperformed North America with a growth of 9.0%. Other regions, including Australia, Latin America, and Asia, experienced a slight decline of 0.3% [3]. 2026 Outlook - For 2026, Techtronic Industries anticipates mid to high single-digit growth in core Milwaukee and Ryobi business revenues. Part of this growth will offset the withdrawal from the HART business, which accounted for 156 million USD in 2025, and ongoing rationalization of the floor care business [3].

Core Viewpoint - The company will voluntarily terminate its HART business by the end of 2025 while retaining the HART brand in its product portfolio, aiming to enhance profitability and growth potential [1] Group 1: Business Strategy - The decision to end the HART business is part of the company's ongoing pursuit of profit growth [1] - The company emphasizes the strong demand trends for its Milwaukee and Ryobi brands across all core verticals, which supports its success in 2026 [1] Group 2: Leadership Insights - CEO Steven Philip Richman expressed pride in the continued growth of the Milwaukee and Ryobi brands despite rising tariffs and macroeconomic uncertainties [1] - The termination of the HART business is expected to strengthen the company's ability to achieve mid-term internal profit targets and maintain additional growth potential in the coming years [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份 內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 TECHTRONIC INDUSTRIES COMPANY LIMITED 創科實業有限公司 （於香港註冊成立之有限公司） (股份代號: 669) 自願性公告 - 業務更新 本公告由創科實業有限公司（「本公司」或「TTI」，連同其附屬公司統稱「本 集團」）自願發出，旨在讓股東及潛在投資者了解本集團的最新業務發展。 為配合TTI一貫對盈利增長努力不懈的追求，本公司將於二零二五年底前自願終 止HART業務，惟仍會在產品組合中保留HART品牌。 本公司重申，Milwaukee及Ryobi兩個品牌在所有核心垂直領域的銷售點（POS） 需求趨勢於整個十一月仍然保持強勁，為本公司二零二六年之持續成功奠定基 礎，展現了我們業務的潛在實力和韌性。 本集團行政總裁Steven Philip Richman先生表示：「面對關稅上漲和廣泛宏觀經 濟的不確定性，我們的業務仍然保持韌性。我們對旗下Milwaukee及Ryobi品 ...