Outperforming the Industry Average

HONG KONG, March 30, 2026 /PRNewswire/ -- KLN Logistics Group Limited ('KLN' or together with its subsidiaries, the 'Group'; Stock Code 0636.HK) today announced the Group's annual results for 2025.

Group's Financial Highlights* and Dividend

• Revenue dropped by 3% to HK$56,336 million (2024: HK$58,274 million)
• Core operating profit decreased by 4% to HK$2,627 million (2024: HK$2,725 million)
• Core net profit increased by 3% to HK$1,396 million (2024: HK$1,357 million)
• Profit attributable to the Shareholders was HK$1,411 million, which represents an increase of 7% (2024: HK$1,321 million)
• Integrated Logistics ('IL') business recorded a segment profit of HK$1,262 million (2024: HK$1,251 million), which represents a slight increase of 1%
• International Freight Forwarding ('IFF') business recorded a segment profit of HK$1,874 million (2024: HK$1,950 million), which represents a drop of 4%
• Proposed final dividend of 16 HK cents per Share to be payable on or around Monday, 8 June 2026

Vic Cheung, Executive Director and CEO of KLN, said, "Global economic conditions stayed subdued in 2025 as policy uncertainty, elevated tariffs and persistent geopolitical tensions continued to weigh on worldwide growth. Against this backdrop, KLN navigated the full year with resilience and agility, enabling the Group to record continued growth in core net profit, outperforming the industry average again. To fulfil KLN's long-term purpose and stay ahead in a rapidly changing logistics landscape, we launched the KLN 2.0 transformation in 2025 Q4, a customer-centric transformation plan to achieve accelerated growth. It will enable the Group to serve multinational corporations with greater integration, consistency and strategic relevance."

Integrated Logistics
In 2025, the Group's IL business recorded a similar segment profit as the prior year despite the difficult operating environment. The key markets of Hong Kong and the Chinese Mainland continued to face keen industry competition alongside significant shifts in consumption patterns. The Group offset pressure on performance by capitalising on growth in other Asian markets and strengthening cost control measures across its network.

In Hong Kong, the IL business reported a 7% decrease in segment profit, due to market competition, shifting consumption patterns and rising price sensitivity among both visitors and local consumers. Although the division secured new customers and project wins in the construction, pharmaceutical and healthcare sectors, these gains were not sufficient to offset the broader slowdown. The relocation of key customers' operations to Qianhai, Shenzhen also weighed on performance.

In the Chinese Mainland, the IL division reported an 11% decline in segment profit, as consumer sentiment stayed weak amid a sluggish economy. Heightened industry competition and continued partial or complete relocation of supply chains under the "China Plus One" strategy reduced domestic logistics activity. To mitigate pressure on business performance, the Group undertook rightsizing and streamlining efforts. This, together with the adoption of AI to optimise financial and operational processes, strengthened cost discipline.

In the rest of Asia, the Group's IL division recorded a 23% increase in segment profit, representing the key growth driver in 2025. Tariff uncertainty and cost considerations accelerated corporations' shift of supply chain activities from the Chinese Mainland to neighbouring markets, particularly in South and Southeast Asia. Leveraging its solid presence and strategic assets in the region, the Group captured new businesses from stable market growth as well as satisfactory performance from KLN Seaport in Thailand.

International Freight Forwarding
In 2025, the Group's IFF division prioritised maintaining optimal volume and disciplined receivables management, resulting in a slight decline in volume and a 4% decrease in segment profit.

As the global No.1 Trans‑Pacific NVOCC from Asia to the US, the IFF division quickly capitalised on the demand surge that followed the temporary suspension of the elevated tariff by providing customers with secured space and expedited services. It also benefited from rising demand along alternative Asia-Europe and Intra-Asia corridors, which maintained more stable momentum amid global supply chain diversification.

Driven by the execution of the Engineering, Procurement and Construction (EPC) projects and the revival of the traditional industrial project logistics market, KLN Project business under the Group's IFF division recorded HK$3.8 billion in revenue in 2025 and contributing a significant segment profit in the EMEA region.

The joint venture between the Group and S.F. Holding, which provides ground handling services for international flights at Ezhou Airport in Central China, contributed HK$387 million in revenue in 2025. With ground handling volume rising 75% year-on-year following the expansion of the international cargo terminal to 420,000 sq ft, air freight ancillary activities have become an important growth driver for the Group's IFF business in the Chinese Mainland.

Looking ahead, Vic Cheung said, "The business environment in 2026 is expected to remain volatile and complex, shaped by ongoing geopolitical rivalry and continued uncertainty over tariff-related policies. Notably, the escalation of geopolitical tensions in the Middle East since late February has intensified trade disruption, which may dampen global consumption demand and economic growth. Under the new KLN 2.0 initiative, the Group is focused on doubling its business scale by driving rapid growth across network coverage, customer base and shipment volume in the near term. In the medium term, the Group will upgrade and scale its service capabilities globally to distinguish itself as one of the top 10 global supply chain players. In the long term, the Group aims to firmly establish itself as a global top 5 industry player, defined not only by scale but also by innovation, ecosystem leadership and sustainable value creation. The Group will continue strengthening its stakeholder ecosystem – balancing the needs of shareholders, employees, partners, society, government and the environment, with the customer at the centre."

About KLN Logistics Group Limited (Stock Code 0636.HK)
KLN is an Asia-based, global 3PL with a highly diversified business portfolio and extensive coverage in Asia. It offers a broad range of supply chain solutions from integrated logistics, international freight forwarding (air, ocean, road, rail and multimodal) and e-commerce to industrial project logistics and infrastructure investment.

With a global presence across 58 countries and territories, KLN has established a solid foothold in half of the world's emerging markets. Its diverse infrastructure, extensive coverage in international gateways and local expertise span across the Chinese Mainland, India, Southeast Asia, the CIS, Middle East, LATAM and other locations.

KLN generated a revenue* of over HK$56 billion in 2025. It is listed on the Hong Kong Stock Exchange and is a constituent of the Hang Seng Corporate Sustainability Benchmark Index.

香港2026年3月30日 /美通社/ -- KLN Logistics Group Limited（「KLN」或與其子公司統稱「集團」；股份代號0636.HK）今天公佈其2025年全年業績。

集團財務摘要*及股息

• 收入下跌3%至563.36億港元（2024年：582.74億港元）
• 核心經營溢利下降4%至26.27億港元（2024年：27.25億港元）
• 核心純利上升3%至13.96億港元（2024年：13.57億港元）
• 股東應佔溢利為14.11億港元，上升7%（2024年：13.21億港元）
• 綜合物流業務錄得分部溢利12.62億港元（2024年：12.51億港元），微升1%
• 國際貨運業務錄得分部溢利18.74億港元（2024年：19.50億港元），下降4%
• 建議末期股息每股16港仙將於2026年6月8日（星期一）或前後派付

 * 僅就持續經營業務而言

KLN執行董事及行政總裁張炳銓表示：「2025年，全球經濟狀況仍然低迷，政策不明朗、關稅上升及地緣政治局勢持續緊張，拖累全球增長步伐。在此形勢下，KLN憑藉其韌性和靈活性應對全年挑戰，核心純利錄得持續增長，表現再次超越行業平均水平。為實現KLN長遠目標並在快速變化的物流格局中保持領先地位，集團於2025年第四季啟動KLN 2.0策略，這是一項以客為本的策略轉型，旨在實現加速增長，讓集團以更集中、一致及切合策略目標的方向服務跨國企業。」

綜合物流
2025年，儘管面對艱難的營運環境，集團綜合物流業務仍錄得與去年相若的分部溢利。中港兩地主要市場持續面臨激烈的行業競爭，消費模式亦出現重大轉變。集團把握亞洲其他市場的增長機會，並加強其網絡內的成本控制措施，以抵銷業績壓力。

香港的綜合物流業務分部溢利下降7%，歸因於市場競爭、消費模式轉變，以及旅客與本地消費者購物態度轉趨審慎。雖然綜合物流業務分部在建築、醫藥及醫療領域吸納了新客戶及贏得項目，但相關增長仍不足以抵銷整體放緩。主要客戶將業務遷往深圳前海亦拖累了表現。

中國內地綜合物流業務分部溢利下降11%，主要由於經濟疲弱，消費信心仍然偏軟。行業競爭加劇，企業持續採取「中國加一」策略而遷移部分或全部供應鏈，使國內物流活動減少。為了緩解業務表現受壓的情況，集團調整與精簡規模，並採用人工智能優化財務與營運流程，以加強成本控制。

集團於亞洲其他地區的綜合物流業務分部溢利增加23%，成為2025年主要增長動力。關稅未明與成本因素，加速企業將供應鏈活動從中國內地轉移至鄰近市場，尤其是南亞及東南亞地區。集團憑藉其區內的穩固佈局與策略性資產，受惠於市場穩健增長以及泰國KLN Seaport的理想表現，成功把握新商機。

國際貨運
2025年，集團的國際貨運分部以維持穩定的貨運量和嚴格管理應收賬款為優先考慮，使貨運量只輕微減少，分部溢利僅下降4%。

集團作為全球第一大亞洲至美國跨太平洋貿易航線無船承運商，其國際貨運分部迅速把握高額關稅暫停實施後需求激增的契機，為客戶提供穩定艙位及加急服務。在全球供應鏈多元化背景下，該分部亦受惠於亞歐與亞洲區內替代航線的需求增長，具有更穩定的發展趨勢。

受惠於工程總承包項目的執行及傳統工業項目物流市場復甦，集團國際貨運分部旗下的KLN Project業務於2025年錄得38億港元收入，並為歐洲、中東及非洲地區的分部溢利作出可觀貢獻。

集團與順豐控股的合資公司，為中國中部鄂州機場國際航班提供地勤服務，於2025年貢獻3.87億港元收入。隨著國際貨運站擴建至420,000平方呎，地勤貨運量按年增長75%，空運配套活動已成為集團在中國內地的國際貨運業務之重要增長動力。

展望未來，張炳銓總結︰「隨著地緣政治對峙局面持續、關稅相關政策波瀾不斷，預計2026年的營商環境將繼續動盪複雜，尤其自二月底以來，中東局勢升溫，加劇貿易中斷情況，或會拖累全球消費需求和經濟增長。在全新的KLN 2.0計劃下，集團致力於短期內透過推動網絡覆蓋、客戶群及貨運量的快速增長，實現業務規模翻倍。中期而言，集團將提升及擴大其環球服務能力，以躋身全球供應鏈十強。長遠而言，集團致力躋身全球供應鏈五強，除了持續擴大規模，更會專注提升創新、行業生態領導力及可持續價值創造。集團將繼續強化其持份者生態圈，以客戶為核心，平衡股東、員工、合作夥伴、社會、政府及環境的需求。」

關於KLN Logistics Group Limited（股份代號0636.HK） 
KLN是以亞洲為基地，擁有高度多元化業務及強大亞洲網絡覆蓋的國際第三方物流服務供應商，業務涵蓋一系列供應鏈解決方案，包括綜合物流、國際貨運（海陸空、鐵路及多式聯運）及電子商貿，以及工業項目物流和基建投資等。

KLN的辦事處遍佈全球58個國家及地區，於全球一半新興市場設立據點，其多元基建設施、廣泛國際樞紐覆蓋和本地專業知識遍及中國內地、印度、東南亞、獨聯體、中東、拉美及其他地區。

KLN於2025 年全年收入*逾560億港元，於香港聯合交易所上市，並是恒生可持續發展企業基準指數成份股。

* 僅就持續經營業務而言

亞太增長勢能持續攀升

美國密西根州奧本山和泰國羅勇2026年3月30日 /美通社/ -- 耐世特汽車系統今日在其位於泰國羅勇的全新制造工廠舉行盛大開業慶典。這座工廠的落成，不僅是耐世特在泰國的首個制造基地，也標志著公司全球制造布局優化戰略邁出的重要一步。

新工廠的落成，使耐世特能夠更好地滿足東南亞地區對先進運動控制技術日益增長的需求，同時提升了公司對整車客戶的本地響應與服務支持能力。這一布局也進一步鞏固了耐世特作為區域內快速擴張的中國領先整車廠的首選供應商地位。

這座占地5,000平方米的工廠在成功完成啟動階段後已正式投產，初期將專注於生產管柱式電動助力轉向系統（CEPS）。該系統通過將電機、控制器和傳感器集成於轉向管柱內，實現了精准、高效的轉向性能。

「耐世特始終致力於為整車廠客戶創造卓越價值與敏捷響應。泰國新工廠的落成，正是我們深化東南亞區域能力的重要戰略投資，」耐世特汽車系統高級副總裁、首席戰略官兼亞太區總裁李軍表示。「新工廠將幫助我們更從容地應對客戶不斷增長的需求。在產能爬坡的同時，我們將積極評估新的發展機會，進一步提升綜合能力，充分把握亞太區，尤其是東南亞市場的澎湃動力。」

耐世特泰國工廠的正式啟用，進一步完善了公司覆蓋全球各大汽車市場的產業布局。至此，耐世特已擁有27家制造工廠、5個技術中心和13個客戶服務中心。

「耐世特泰國工廠的開業，印證了我們對推動增長、引領創新、持續進步的堅定承諾，」耐世特汽車系統總裁、首席技術官、代理首席運營官兼執行董事Robin Milavec表示。「通過深化在東南亞的業務布局，我們正加速實現安全、綠色、振奮人心的移動出行，同時為全球客戶與社區創造真正有意義的價值。」

關於耐世特汽車系統

耐世特汽車系統（HK 1316）作為一家領先的運動控制技術公司，加速實現安全、綠色和振奮人心的移動出行。我們創新的產品和技術組合為底盤的「線控運動控制」 （Motion-by-Wire™）提供助力，包括電動助力和液壓助力轉向系統、線控轉向和後輪轉向系統、轉向管柱與中間軸、驅動系統、軟件解決方案以及線控制動，為包括電氣化、軟件/網聯、先進駕駛輔助系統（ADAS）/自動駕駛和共享出行在內的所有大趨勢所面臨的運動控制挑戰提供解決方案，為全球60余家客戶提供服務，包括寶馬、福特、通用、雷諾日產三菱、斯泰蘭蒂斯、豐田、大眾，以及中國的比亞迪、小米、長安、理想、奇瑞、長城、吉利、小鵬等和印度的汽車制造商。www.nexteer.com

訪問耐世特媒體庫及新聞包

AUBURN HILLS, Mich. and RAYONG, Thailand, March 30, 2026 /PRNewswire/ -- Nexteer Automotive celebrated today the grand opening of its new manufacturing facility in Rayong, Thailand. This strategic expansion marks Nexteer's first manufacturing site in Thailand and represents the latest step in the company's ongoing strategy to optimize its global manufacturing footprint. 

The new plant strengthens Nexteer's ability to meet growing demand for advanced motion control technologies in Southeast Asia while enhancing the company's local responsiveness and support for OEM customers. It also reinforces Nexteer's position as a preferred supplier to leading Chinese OEMs that are rapidly expanding their presence in the region.

The 5,000-square-meter facility has officially commenced production following a successful launch phase, initially focusing on Column-Assist Electric Power Steering (CEPS) systems. CEPS systems integrate the motor, controller and sensors within the steering column to deliver precise and efficient steering performance.   

"Nexteer is committed to delivering exceptional value and responsiveness to our OEM customers, and our new Thailand facility represents a strategic investment to expand our capabilities in Southeast Asia," said Jun Li, Nexteer's Sr. Vice President, Chief Strategy Officer & APAC Division President. "With this grand opening, Nexteer is now even better positioned to serve our customers' growing needs. As we ramp up production, we will continue evaluating growth opportunities to expand our capabilities and further capitalize on the strong growth momentum in APAC, particularly in Southeast Asia."

Nexteer's Thailand facility joins the company's global network of 27 manufacturing plants, five technical centers and 13 customer service centers across major automotive markets worldwide.

"Nexteer's grand opening in Thailand reflects Nexteer's commitment to growth, innovation and progress," said Robin Milavec, President, Chief Technology Officer, Interim Global Chief Operating Officer and Executive Board Director of Nexteer Automotive. "By expanding our presence in Southeast Asia, we are advancing mobility that is safe, green and exciting while delivering technologies that create meaningful value for customers and communities worldwide."

ABOUT NEXTEER AUTOMOTIVE

Nexteer Automotive (HK 1316) is a global leading motion control technology company accelerating mobility to be safe, green and exciting. Our innovative portfolio supports by-wire chassis control, including electric and hydraulic power steering systems, steer-by-wire and rear-wheel steering systems, steering columns and intermediate shafts, driveline systems, software solutions and brake-by-wire. Celebrating 120 years of automotive innovation in 2026, Nexteer builds on a strong legacy of engineering excellence while continuing to shape the future of mobility. The company solves motion control challenges across all megatrends – including electrification, software/connectivity, ADAS/automated driving and shared mobility – for global and domestic OEMs around the world including BMW, Ford, GM, RNM, Stellantis, Toyota and VW, as well as automakers in India and China including BYD, Xiaomi, ChangAn, Li Auto, Chery, Great Wall, Geely, Xpeng and others. www.nexteer.com  

Links to Nexteer Media Center & Press Kit

Total Parcel Volume Crosses the 30-Billion Mark for the First Time; Southeast Asia Market Share Expands to 34.4%

HONG KONG, March 30, 2026 /PRNewswire/ -- J&T Global Express Limited ("J&T Express" or "J&T" or "the Company", stock code: 01519), a global logistics service provider, announced its annual results for 2025. In 2025, the Company's total parcel volume crossed the 30-billion mark for the first time, reaching 30.1 billion, representing a 22.2% year-over-year ("YoY") increase. Full-year total revenue reached US$12.2 billion, up 18.5% YoY, demonstrating that the Company's global network spanning 13 countries continues to unleash strong growth momentum.

The Company's profitability continued to improve, with adjusted net profit reaching US$425 million, up 112.3% YoY, exceeding Bloomberg consensus expectations. Among them, the Southeast Asia market achieved a trifecta of "volume growth, market share expansion, and profit improvement," with adjusted EBIT surging 77.5% YoY to US$538 million. In New Markets, just three years after launching operations in 2022, adjusted EBIT turned positive for the first time, recording US$4 million. In the China market, amid intense industry competition and the "anti-involution" policy backdrop, the Company maintained profit resilience through effective cost control, with adjusted EBIT at US$94 million.

Dylan Tey, Chief Financial Officer of J&T Express, commented: "2025 was a year of fruitful achievements for J&T's globalization strategy. Our global parcel volume and revenue both recorded strong growth, and free cash flow increased significantly by 96.1% to US$494 million. Our leadership in the Southeast Asia market has been consolidated, with profitability significantly enhanced; New Markets also achieved profitability within just three years, marking an important milestone in our globalization journey; and in China, we continued to optimize operations and reduce costs, with cost per parcel hitting a record low of US$0.28, maintaining a strong competitive advantage."

Southeast Asia Business Ranked First in the Industry for the Sixth Consecutive Year; Leadership in Market Share Expands

J&T's leadership position in the Southeast Asia market became even more solid in 2025. The Company's parcel volume in Southeast Asia reached 7.66 billion, surging 67.8% YoY, hitting a four-year high in growth rate; revenue increased 39.8% YoY to US$4.5 billion. According to Frost & Sullivan data, by parcel volume, J&T's market share in Southeast Asia further increased to 34.4%, and it has been the top-ranked express delivery operator in the Southeast Asia market for six consecutive years since 2020.

This growth was mainly driven by the continued rapid development of Southeast Asia's e-commerce market. At the same time, as an independent e-commerce enabler, the Company achieved steady business improvement by integrating order resources across all platforms and actively expanding non-e-commerce platform customers. The Company also empowered Southeast Asia with its China experience, driving a significant enhancement in economies of scale. Cost per parcel decreased to US$0.48. While offering customers more competitive pricing, the Company achieved an increase in adjusted EBIT margin to 11.9%.

China Market Accelerates the Adoption of Outlet Automation; Cost per Parcel Steadily Declines

In 2025, J&T achieved high-quality growth in the China market, with its business volume ranking rising to fifth, and revenue increasing 5% YoY to US$6.71 billion. During the period, the Company handled 22.07 billion parcels, up 11.4% YoY. Through deepening full-link refined operations, the Company fully promoted the popularization and application of automated equipment at outlets, with the number of automated equipment increasing significantly compared to the end of 2024. The Company's cost per parcel decreased YoY to US$0.28, maintaining the profit resilience of the business.

The Company continued to build differentiated competitive barriers, including deepening cooperation with brand customers such as Yili, Luhua, and Wuliangye, vigorously promoting the "Express Delivery to Villages" project, continuously increasing the coverage rate of express delivery to villages, accelerating and strengthening cloud warehouse services, and actively deploying the application of unmanned logistics vehicles, with over 1,000 vehicles currently in operation. Meanwhile, the Company launched its Hong Kong consolidated shipping business in 2025. Leveraging the cargo consolidation, transit, and sorting capabilities in the Guangdong-Hong Kong-Macao Greater Bay Area, it extended its reach to the Hong Kong region and developed a series of terminal facilities such as self-pickup points and self-pickup lockers in Hong Kong.

New Markets Achieve Historic Profitability; Another Milestone in Globalization Strategy

J&T's layout in New Markets (including Saudi Arabia, the UAE, Mexico, Brazil, and Egypt) ushered in a harvest period. In 2025, parcel volume in New Markets increased by 43.6% YoY to 404 million, and revenue rose 51.2% YoY to US$870 million. Adjusted EBIT improved significantly from the same period last year to a profit of US$4 million, successfully turning losses into gains. At the same time, the adjusted EBIT per parcel in New Markets turned positive for the first time in the second half of 2025, reaching US$0.09, proving that the New Markets business has entered a healthy and sustainable development track.

The success of New Markets benefited not only from the Company's close cooperation with global cross-border e-commerce platforms such as SHEIN, Temu, TikTok, and AliExpress, but also from the active expansion of local partners. In 2025, the Company reached a cooperation with Mercado Libre, the largest e-commerce platform in Latin America, and won the Mercado Libre 2025 Best Carrier Award, with its service capabilities recognized by the platform. The mature operating experience of the China and Southeast Asia markets was systematically exported to New Markets, greatly enhancing operational capabilities, operational efficiency, and profitability.

J&T continued to invest in advancing network construction and operational optimization in global markets, comprehensively enhancing network carrying capacity through self-building and upgrading core hubs. As of the end of 2025, the Company operated 246 sorting centers globally, and its largest global self-built center, located in Guangzhou, became officially operational in the fourth quarter of 2025. To cope with the growth in business volume, the Company added approximately 1,880 self-owned line-haul vehicles on a net basis throughout the year; and added 134 sets of automated sorting equipment, bringing the total to 413 sets.

Charles Hou, Group Vice President of J&T Express, stated: "2025 was a crucial year for J&T to achieve high-quality growth and strategic breakthroughs. Our market share advantage in Southeast Asia continued to expand, we maintained resilience and quality development amid intense competition in the China market, and New Markets also ushered in an inflection point of profitability, fully validating our global, replicable business model. Over 30 billion parcels globally is a new starting point for J&T. Looking ahead, we will continue to forge ahead and meet global customers' demand for high-quality express delivery services with more efficient and intelligent services, creating long-term value for shareholders and partners."

SHANGHAI, March 30, 2026 /PRNewswire/ -- WuXi Biologics ("WuXi Bio") (2269.HK), a leading global Contract Research, Development and Manufacturing Organization (CRDMO), announced that it has won "Biologics CDMO of the Year" (Large CDMOs) in the 2026 CDMO Leadership Awards. The company has also been recognized for excellence across multiple categories for "Large CDMO Biologic", including "Best Scaling Support", "Best Analytical Services", "Best Overall Staff", and "Best Project Management". These achievements mark WuXi Biologics' ninth consecutive year winning the CDMO Leadership Awards, underscoring its commitment to advancing integrated technology platforms that accelerate biologics discovery, development, and manufacturing.

Dr. Chris Chen, CEO of WuXi Biologics, commented, "We are honored to receive the CDMO Leadership Award for the ninth consecutive year. This recognition reflects the continued trust of our global partners and the dedication of our more than 13,000 employees worldwide. By advancing integrated technology platforms, manufacturing excellence, and digital innovation, we remain committed to helping our partners accelerate development, ensure quality and scalability, and bring life‑saving biologics to patients worldwide."

As of the end of 2025, WuXi Biologics has 945 integrated projects on its platform, making it one of the world's largest portfolios of complex biologics. Among them, more than 50% are complex modalities, such as bi-/multi-specific antibodies and ADCs. Supported by innovative technology platforms, deep accumulated know‑how in molecule and process development, and a leading global quality system, WuXi Biologics' timelines from DNA to IND and from IND to BLA have been shortened to 6 months and 15 months, respectively, compared with industry averages of 10–12 months and 24–36 months. From technology transfer to PPQ, the standard timeline is 6 months, with an accelerated timeline of 3.5 months —compared with industry timelines of over 12 months.

WuXi Biologics has developed a holistic strategy to deliver scalable and agile manufacturing solutions that help global clients address evolving market demand. These include the application of large‑volume single‑use bioreactors (SUBs) ranging from 2,000 L and 4,000 L to 5,000 L; the combination of multiple SUBs to enable large‑scale manufacturing of up to 16,000 L; the implementation of innovative intensified bioprocessing such as WuXiUP™ (continuous bioprocessing platform) and WuXiUI™ (ultra-intensified fed-batch bioprocessing platform) to significantly enhance productivity; and the application of WuXia™ TrueSite, a next‑generation targeted integration (TI)-based CHO cell line platform. WuXia™ TrueSite achieves average mAb titers exceeding 8.0 g/L with outstanding expression stability across 60 generations.

Building on its innovative technology platforms, WuXi Biologics consistently leads the industry in manufacturing and bioprocessing excellence. The company has achieved a 100% success rate in PPQ campaigns. It has delivered more than 350 large‑scale batches (6,000 L – 16,000 L per batch) for global partners since 2017. The strong manufacturing track record is underpinned by WuXi Biologics' rigorous, global quality system. As of the end of 2025, the company had successfully passed 46 regulatory inspections, including 22 inspections conducted by the FDA and EMA. The company also holds an industry-leading record with a 100% pass rate for FDA Pre-License Inspection (PLI). Currently, the company operates 15 GMP-certified drug substance and drug product facilities within its global network, with 136 facility license approvals and a 100% success in GMP inspections. Its world-class quality and compliance capabilities remain the cornerstone of global clients' trust.

WuXi Biologics is also pioneering digital innovation to transform biologics research, development and manufacturing. It has integrated digital innovation across end-to-end R&D, manufacturing, operations, and customer engagement, driving faster timelines, superior quality, and full partnership transparency. By leveraging digital manufacturing solutions, such as Electronic Batch Record (EBR), the company has driven an approximately 40% productivity gain, consistent data integrity and high product quality, while its advanced planning systems have delivered about a 20% improvement in efficiency. Recently, WuXi Biologics launched the industry-leading digital twin platform PatroLab^™ to enhance process performance, minimize process risks, shorten development timelines, and ensure consistent, high-quality biologics manufacturing.

The CDMO Leadership Awards and ceremony are produced by Life Science Connect and hosted by Outsourced Pharma. The awards have partnered with the Tufts Center for the Study of Drug Development (Tufts CSDD) to independently design, field, and analyze the research underlying the 2026 awards program.

About WuXi Biologics

WuXi Biologics (stock code: 2269.HK) is a leading global Contract Research, Development and Manufacturing Organization (CRDMO) offering end-to-end solutions that enable partners to discover, develop and manufacture biologics – from concept to commercialization – for the benefit of patients worldwide.

With over 13,000 skilled employees in China, the United States, Ireland, Germany and Singapore, WuXi Biologics leverages its technologies and expertise to provide customers with efficient and cost-effective biologics discovery, development and manufacturing solutions. As of December 31, 2025, WuXi Biologics is supporting 945 integrated client projects, including 74 in Phase III and 25 in commercial manufacturing.

WuXi Biologics regards sustainability as the cornerstone of long-term business growth. The company continuously drives green technology innovations to offer advanced end-to-end Green CRDMO solutions for its global partners while consistently achieving excellence in Environment, Social and Governance (ESG). Committed to creating shared value, it collaborates with all stakeholders to foster positive social and environmental impacts and promote responsible practices that empower the entire value chain.

For more information about WuXi Biologics, please visit: www.wuxibiologics.com.

Contacts 

Media 
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Business
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CYBEX Set New Revenue and Profit Records Under Strong Momentum
Further Gaining Market Shares in Turbulent Global Environment

Highlights:

• CYBEX set new records for both revenue and profit, with revenue rising sharply by 13.0% to approximately HK$5,047.4 million
• Evenflo delivered a strong performance in the stroller category, while the continued and successful implementation of its digital strategy led to robust growth in the DTC channel
• gb recorded strong growth in the car seats segment and has optimized its product mix
• The Group's one-dragon vertically integrated platform has mitigated risks associated with reliance on any single market and enabled agile, flexible responses to market volatilities

HONG KONG, March 29, 2026 /PRNewswire/ -- Goodbaby International Holdings Limited ("Goodbaby International" or the "Company", HKEX stock code: 1086, together with its subsidiaries, the "Group"), a leading global parenting brands company, has announced its annual results for the year ended 31 December 2025 (the "Year").

During the Year, the Group's revenue totaled approximately HK$8,659.2 million (2024: approximately HK$8,765.9 million). Reported gross profit was approximately HK$4,434.0 million, reported operating profit was approximately HK$419.5 million, and reported net profit was approximately HK$218.4 million.

CYBEX achieves record results and expands global leadership amid challenging market conditions

Despite a challenging business environment, CYBEX achieved record revenue and profit, underscoring the brand's exceptional resilience and considerable market influence. Supported by strong market demand for its products across the world, CYBEX recorded robust revenue growth of 13.0% to approximately HK$5,047.4 million (2024: approximately HK$4,467.3 million). Benefiting from positive operating leverage, CYBEX's operating profit grew faster than its revenue, highlighting the brand's focus on continuously improving business profitability. The sustained outstanding performance was driven by CYBEX's solid brand position, diversified and innovative product portfolio, and continued expansion of its global omni-channel distribution network. During the Year, CYBEX opened two flagship stores in New York and Berlin, respectively, further reinforcing its leadership in "Strategic Big Cities" and enriching its omni-channel distribution network. The opening of the New York store also further boosted CYBEX's momentum in the North American market, despite challenges from tariffs and price increases. Moreover, CYBEX garnered several international awards for product fashion design, safety, and functionality, further reinforcing its global leadership as a premium "technical-lifestyle" brand.

Evenflo achieves strong stroller growth and effective cost controls

Evenflo recorded revenue of approximately HK$2,118.1 million (2024: approximately HK$2,385.3 million). The decline was mainly attributable to lower sales in the car seat category and low-priced and older products in other categories. Nevertheless, the brand delivered strong performance in the stroller category through a record number of new launches, which partially offset the overall revenue decline. The brand also achieved strong growth in its DTC channel by leveraging a successful digital strategy. Additionally, Evenflo implemented mitigation measures, including stringent cost controls and a streamlined organization structure, which led to improved expense performance in the second half of the year.

gb's product portfolio and channel upgrades lead to margin improvement

gb's revenue was approximately HK$745.5 million (2024: approximately HK$918.1 million) for the Year. The revenue decline was mainly due to a strategic shift toward upgrading the product portfolio and focusing on the durables category (with strong growth recorded in the car seat segment), compounded by reduced sales of low-priced and older products. The brand enhanced consumer experience through improved fashion design and transitioned to offering one-stop solutions, resulting in strong growth in the car seat segment and a more optimized product mix. The channel mix was further optimized by prioritizing self-owned channels, adjusting the retail store network, and strengthening in-house management of online retail stores, all of which contributed to the gross margin improvement.

During the Year, the Blue Chip and other business recorded revenue of approximately HK$748.2 million. The Group's relationship with its Blue Chip customers remained healthy and stable, and it continued to efficiently provide quality products and services for its customers.

Outlook

Looking ahead to 2026, the global economy is expected to remain volatile. Despite the challenges, the Group will continue to leverage its competitiveness strengths, respond swiftly to market changes, and pursue sustainable development opportunities. CYBEX will capitalize on its strong brand momentum and global omni-channel capabilities to further expand its market share worldwide. Evenflo will prioritize restoring revenue growth and profitability under its new management team, supported by continued product and channel enhancements. gb will focus on business turnaround by strengthening content marketing, growing the durables category, and enhancing the DTC strategy through strict cost discipline. And the Blue Chip business is expected to record moderate development as tariff policy uncertainties and fierce competition are expected to continue to impact its major customers' business.

Mr. Tongyou LIU, Executive Director and Group CEO of Goodbaby International, said, "Over the past year, the macroeconomic environment has been extremely challenging. The Group responded proactively, overcoming difficulties and maintaining steady business development. Among its brands, CYBEX stood out with particularly impressive results, achieving strong growth in both revenue and profit, and demonstrating remarkable brand resilience and market influence. Looking ahead, the global political and economic landscape is expected to remain complex and uncertain. The Group will continue to strengthen its brands through its continuously expanded omni-channel networks and infrastructure across both existing and new markets. It will also further improve its global supply chain to enable faster market response and better utilize regional strengths, driving the Group's long-term sustainable development."

About Goodbaby International Holdings Limited

Goodbaby International Holdings Ltd. (stock code: 1086) is a world-leading parenting brands company. The Group serves millions of families around the world with its excellent portfolio of brands through design, research and development, manufacture, marketing and sales of children's car safety seats, strollers, apparel and home textile products, feeding, nursing and personal care products, cribs, bicycles and tricycles and other children's products.

For more information, please visit Goodbaby's corporate website:
www.gbinternational.com.hk.

Results Highlights

• Leveraging the dual-drive strategy of "Globalisation" and "Mid-to-High-End", TCL Electronics has achieved quality growth in global business and continuously strengthened overall profitability. In 2025, the Company's revenue increased by 15.4% year-on-year (YoY) to HK$114.58 billion, profit after tax increased by 36.7% YoY to HK$2.53 billion, and adjusted profit attributable to owners of the parent increased by 56.5% to HK$2.51 billion compared with the previous year.
• In 2025, TCL TV's shipment ranking consistently remained at the second position among global branded TVs ^[1]; TCL Mini LED TV global shipment surged by 118.0% YoY, with its scale consistently ranking the first globally ^[2]. The continuous advancement of the "Mid-to-High-End" strategy has driven the gross profit margin of the large-sized display business to increase by 1.3 percentage points YoY to 16.8% during the year.
• The internet business sustained high profitability. In 2025, internet business revenue increased by 18.3% YoY to HK$3.11 billion, with a gross profit margin as high as 56.4%. The Company's overseas flagship models were among the first in the industry to integrate Google Gemini. As at the end of 2025, TCL Channel's global cumulative user base exceeded 45.70 million, with commercialisation and monetisation capabilities significantly strengthened.
• The innovative business continued to expand in scale, with revenue in 2025 surging by 31.9% YoY to HK$35.63 billion. Among these, the photovoltaic business revenue increased by 63.6% YoY to HK$21.06 billion, demonstrating outstanding market competitiveness and development resilience.
• The Board proposed a final cash dividend of HK49.80 cents per share for 2025, with a dividend payout ratio of approximately 50% of adjusted profit attributable to owners of the parent.

HONG KONG, March 28, 2026 /PRNewswire/ -- TCL Electronics Holdings Limited ("TCL Electronics" or the "Company", 01070.HK) announced its annual results for the year ended 31 December 2025. In 2025, the Company continued to make breakthroughs in product mix, technological leadership and quality enhancement, achieving healthy growth in business scale. During the year, the Company achieved revenue of HK$114.58 billion, representing a YoY increase of 15.4%, and its gross profit reached HK$17.90 billion, representing a YoY increase of 15.1%.

The Company continued to strengthen the building of various core capabilities, fully introduced AI applications across R&D, manufacturing, supply chain and sales, and comprehensively enhancing operational efficiency, with the overall expense^[3] ratio decreasing by 0.7 percentage points YoY to 11.1%. In 2025, the Company achieved continuous improvement in internal operational efficiency and its overall profitability continued to be optimised. Its profit after tax increased by 36.7% YoY to HK$2.53 billion, and adjusted profit attributable to owners of the parent reached HK$2.51 billion, representing an increase of 56.5% compared with HK$1.61 billion of the previous year.

To reward Shareholders for their long-term support and share development results, the Board proposed a final cash dividend of HK49.80 cents per share for 2025, with a dividend payout ratio of approximately 50% of adjusted profit attributable to owners of the parent. The final dividend per share increased significantly by 56.6% as compared with the previous year.

Mid-to-high-end display products and international market becoming core growth drivers, with TCL Mini LED TV maintaining global No. 1 position

Benefitting from effective enhancement of brand influence, efficient expansion of global channels and continuous optimisation of product mix, the Company's display business revenue in 2025 increased by 9.2% YoY to HK$75.80 billion, gross profit increased by 16.4% YoY to HK$12.48 billion, and gross profit margin increased by 1.1 percentage points YoY to 16.5%.

The large-sized display business achieved revenue of HK$64.71 billion during the year, representing a YoY increase of 7.7%; gross profit reached HK$10.90 billion, representing a YoY increase of 17.2%, with gross profit margin increasing by 1.3 percentage points YoY to 16.8%. In 2025, TCL TV's global shipment market share reached 14.7%, representing a YoY increase of 0.8 percentage points, consistently ranking second globally^[4]; TCL Mini LED TV global shipment surged by 118.0% YoY, with shipment proportion increasing by 6.8 percentage points YoY to 13.0%, and shipment market share reaching 31.1%, ranking firmly at the first position globally^[5], demonstrating the Company's technological leadership and market competitiveness in the high-end display segment.

In terms of the international market, the large-sized display business' revenue reached HK$47.50 billion, representing a YoY increase of 15.7%, with gross profit increasing by 29.4% YoY to HK$7.17 billion. The large-screen trend in the international market continued to accelerate, with overseas shipment of 65-inch and above TCL TVs surging by 50.0% YoY and shipment proportion increasing by 6.7 percentage points YoY to 24.2%; shipment of TCL Mini LED TV in the international market surged by as much as 228.0% YoY, with shipment proportion increasing by 7.1 percentage points to 10.6%. Benefitting from the optimisation of product mix, the gross profit margin from the international market increased by 1.6 percentage points YoY to 15.1%, with the premiumisation strategy delivering remarkable results. In the European market, the Company achieved full coverage of key channels, driving revenue increased by 13.9% YoY. The product mix shifted towards higher value and higher gross profit margin. In the North American market, the Company successfully implemented the "Mid-to-High-End" strategy, achieving dual improvement in revenue and ASP. During the year, the revenue increased by 11.2% YoY, while ASP recorded an over 20% YoY increase. In emerging markets such as Latin America, the Middle East and Africa, and Asia-Pacific, the Company actively promoted localised operations and continued to advance the dual-track strategy of synergistic development between offline channels and e-commerce platforms, driving a 19.8% YoY increase in TCL TV revenue and effectively unleashing the potential for scale growth. In 2025, TCL TV ranked among the top 3^[6] in terms of retail sales volume in over 20 countries worldwide.

In terms of the PRC market, while the overall industry shipment volume declined due to weak consumer demand, the Company's large-sized display business achieved steady gains in market share against the market headwind, supported by the "Mid-to-High-End" strategy. During the year, the Company's core high-end products delivered outstanding performance. Among them, TCL Mini LED TV shipment increased by 33.6% YoY, with shipment proportion increasing by 7.2 percentage points YoY to 22.5%; TCL QLED TV shipment increased by 29.6% YoY with shipment proportion increasing by 6.4 percentage points YoY to 21.2%. The high-end product portfolio continued to expand. Product mix upgrades further deepened the large-screen and mid-to-high end trends. The mid-to-high end trend also made the large-screen trend more prominent. The shipment proportion of 65-inch and above TCL TVs in the PRC market rose to 57.6% in 2025, with the average size increasing to 64.3 inches. The significant improvement in product mix drove the overall gross profit margin to increase by 1.9 percentage points YoY to 21.7%, with significant improvement in profitability and steady enhancement in operational quality.

During the year, the small-and-medium-sized display business adhered to the strategy of "prioritising efficiency and focusing on key markets", deeply cultivated tier-one network carrier channels in Europe and North America, and consolidated strategic relationships with core partners, achieving steady development. In 2025, revenue of the Company's small-and-medium-sized display business increased by 17.8% YoY to HK$9.97 billion, with gross profit increasing by 10.4% YoY to HK$1.44 billion.

In addition, the Company's smart commercial display business leveraged the globally leading resource advantages of its TV business, and focused on four major scenarios of office, retail, catering business and exhibition, thus continuously enhancing product competitiveness. In 2025, revenue of the smart commercial display business increased by 28.4% YoY to HK$1.12 billion, with gross profit increasing by 24.0% YoY to HK$0.14 billion.

Deepening collaboration with global giants and driving TV interaction and upgrade through AI to achieve growth in both revenue and profit for internet business

TCL Electronics continuously seized global new opportunities arising from AI technology development and deeply cultivated the global home internet sector, placing users at the core, strengthening the construction of AI and content ecosystems, and continuously enhancing user experience. During the year, the Company's internet business achieved simultaneous improvement in business scale and profitability quality, with revenue increasing by 18.3% YoY to HK$3.11 billion, gross profit increasing by 18.8% YoY to HK$1.75 billion, and gross profit margin standing at 56.4%, maintaining strong profitability.

In the international market, TCL Electronics continued to deepen strategic cooperation with international giants such as Google, Roku and Netflix, with flagship models pioneering the industry to integrate Google Gemini, and upgraded the AI interactive experience, whilst completing a comprehensive upgrade of its content aggregation application, TCL Channel. The proportion of local premium content doubled, driving a substantial YoY increase of 150.0% in average daily total usage duration. By the end of 2025, TCL Channel's global cumulative users exceeded 45.70 million, with content appeal and commercialisation and monetisation capabilities significantly strengthened, further solidifying the leading advantages in the global home internet business.

In the domestic market, leveraging its proprietary OTT smart device operating platform, the Company focused on AI content generation and interactive experience upgrades. In terms of product innovation, the Company focused on upgrading AI technology on the TV front to deliver an even more immersive interactive experience. Meanwhile, the Company created a proprietary copyright "Content Factory" through AI, achieved large-scaled implementation of AI-generated content in the children's segment, and improved AI-generated animation creation efficiency through self-developed tool Agent. The AI hardware product Amby Uni was successfully launched to the market. During the year, the Company continuously optimised the business structure and consolidated its leading position in the global home internet sector.

Driving high-quality growth of photovoltaic business through the asset-light operating model while building long-term competitive advantages via diversified AI layout

By consistently increasing R&D investment, the Company focused on AI technology to cultivate its second growth curve. By leveraging the enhancement of global marketing and brand influence, the innovative businesses achieved continuous expansion during the year, with revenue surging by 31.9% YoY to HK$35.63 billion in 2025.

The photovoltaic business adhered to a relatively asset-light approach in the domestic market. It developed market-based electricity trading capabilities, strengthened channel partnerships, and steadily enhanced operational efficiency and competitiveness, entering a phase of high-quality development. The overseas business focused on key European countries, leveraged SunPower to enhance brand synergy, and accelerated the "solar-storage-heating" product layout and business expansion. In 2025, the photovoltaic business' revenue increased by 63.6% YoY to HK$21.06 billion, with gross profit increasing by 47.5% to HK$1.81 billion. In 2025, the photovoltaic business achieved new installed capacity of 8.0 GW domestically and cumulatively contracted over 340 industrial and commercial projects, with cumulative dealer channels exceeding 2,530 and contracted rural households totaling nearly 360,000.

In the AR/XR sector, RayNeo, incubated by the Company, continued to maintain its industry-leading position. In 2025, RayNeo held a 32% market share in the PRC AI/AR glasses market, ranking first with an absolute advantage^[7]; in the PRC AR glasses online market in 2025, RayNeo held a 35.4% sales volume share, maintaining rapid growth amid intensifying market competition, and ranking first in the PRC online omni-channel market for four consecutive years^[8]. In terms of product innovation, the Company launched in October 2025 the world's first HDR glasses, RayNeo Air 4, integrating seven major technological highlights and leading industry technology development. At CES 2025, the Company launched TCL AiMe, the world's first modular AI companion robot, perfectly integrating AI technology, IoT control and home companionship functions. As the smart home ecosystem matures, innovative products such as TCL AiMe are expected to become widely seen in future homes, demonstrating enormous market potential.

Future Outlook: Driving industrial upgrade through AI, focusing on dual enhancement of profitability and scale, and achieving high-quality development

Looking ahead, the Company will continue to uphold the business philosophy of "Strategy Guidance, Innovation Driven, Advanced Manufacturing and Global Operation". The core business will adhere to the dual-drive strategy of "Globalisation" and "Mid-to-High-End", while new business segments will take AI innovation and digital intelligence empowerment as key drivers. The Company is committed to continuously expanding its global scale, improving profitability, and achieving high-quality sustainable development. In terms of Shareholder return, the Company attaches great importance to the long-term value of Shareholders. Going forward, while maintaining sound business growth, the Company will continuously optimise its capital structure, aiming to deliver sustainable, high-quality and long-term returns to Shareholders through solid performance.

About TCL Electronics
TCL Electronics Holdings Limited (01070.HK, incorporated in the Cayman Islands with limited liability) has been listed on the Main Board of The Stock Exchange of Hong Kong Limited since November 1999. Its business scope covers display business, innovative business, and internet business. Guided by the business philosophy of "Strategy Guidance, Innovation Driven, Advanced Manufacturing and Global Operation", TCL Electronics actively embraces transformation and innovation and focuses on breaking into the mid-to-high-end global market, and strives to the all-category layout for the "Smart IoT Ecosystem". Dedicated to providing users with all-scenario smart healthy living experiences, TCL Electronics aims to become a leading global intelligent terminal enterprise. TCL Electronics is included in the list of eligible shares for Shenzhen-Hong Kong Stock Connect. It is a constituent stock of the Hang Seng Stock Connect Hong Kong Index, the Hang Seng Composite LargeCap & MidCap Index, and the Hang Seng Composite MidCap Index. Since 2018, the Company has been awarded an ESG rating of A by Hang Seng Indexes Company for several consecutive years.

For more information, please visit TCL Electronics' investor relations website at http://electronics.tcl.com, or access the official WeChat account of TCL Electronics Investor Relations.

業績亮點

• TCL電子憑藉「全球化」與「中高端化」的雙輪驅動戰略，在全球市場取得高質量增長，盈利能力持續增強。2025年，收入同比增長15.4%至1,145.8億港元，除稅後利潤同比增長36.7%至25.3億港元，經調整歸母淨利潤較去年增長56.5%至25.1億港元。
• 2025年，TCL TV出貨量排名穩居全球品牌TV前二^[1]；TCL Mini LED TV全球出貨量同比大幅增長118.0%，規模穩居全球首位^[2]。中高端戰略的持續推進，帶動大呎吋顯示業務在年內毛利率同比提升1.3個百分點至16.8%。
• 互聯網業務維持高盈利水平，2025年收入同比增長18.3%至31.1億港元, 毛利率高達56.4%。海外旗艦機型率先接入Google Gemini，截至2025年底TCL Channel累計用戶突破4,570萬，商業化變現能力顯著增強。
• 創新業務規模持續擴張，2025年收入同比高增31.9%至356.3億港元，其中光伏業務收入同比增長63.6%達210.6億港元，展現出卓越的市場競爭力與發展韌性。
• 董事會建議派發2025年末期股息每股現金49.8港仙，派息率達經調整歸母淨利潤的約50%。

香港2026年3月27日 /美通社/ -- TCL電子控股有限公司（「TCL電子」或「公司」，01070.HK）今天公佈截至2025年12月31日止之年度業績。2025年，本公司在產品結構、技術領先、品質提升等方面持續突破，業務規模健康增長，年內實現收入1,145.8億港元，同比增長15.4%；毛利同比增長15.1%至179.0億港元。

公司持續強化各項核心能力建設，在研發、製造、供應鏈及銷售等環節全面導入AI應用，全面提升運營效率，年內的整體費用^[3]率同比下降0.7個百分點至11.1%。2025年，公司不斷提升內部運營效率，整體盈利水平持續優化，年內除稅後利潤同比增長36.7%至25.3億港元，經調整歸母淨利潤達25.1億港元，較去年16.1億港元增長56.5%。 

為回饋股東長期支持並共享發展成果，董事會建議派發2025年末期股息每股現金49.8港仙，派息率達經調整歸母淨利潤的約50%，末期股息較去年大幅增加56.6%。

中高端顯示產品及國際市场成增長動力  TCL Mini LED TV穩居全球第一 

憑藉品牌影響力有效提升，全球渠道高效拓展及產品結構持續優化，2025年公司的顯示業務整體收入同比增長9.2%至758.0億港元，毛利同比增長16.4%至124.8億港元，毛利率同比增長1.1個百分點至16.5%。

其中，大呎吋顯示業務在年內實現收入647.1億港元，同比增長7.7%；毛利達109.0億港元，同比增長17.2%，毛利率同比提升1.3個百分點至16.8%。2025年，TCL TV全球出貨量市佔率達14.7%，同比提升0.8個百分點，排名穩居全球品牌TV前二^[4]；TCL Mini LED TV全球出貨量同比大幅增長118.0%，出貨量佔比同比提升6.8個百分點至13.0%，出貨量市佔率達31.1%，穩居全球首位^[5], 充份表現公司在高端顯示領域的技術領先優勢和市場競爭力。

在國際市場方面，大呎吋顯示業務收入達475.0億港元，同比增長15.7%，毛利同比增長29.4%至71.7億港元。國際市場大屏化進程持續加速，65吋及以上TCL TV海外出貨量分別同比大幅增長50.0%，出貨量佔比同比提升6.7百分點至24.2%；TCL Mini LED TV國際市場出貨量同比增幅更達至228.0%，出貨量佔比提升7.1個百分點至10.6%。產品結構的優化推動國際市場毛利率同比提升1.6個百分點至15.1%，高端化戰略成效顯著。其中，歐洲市場實現了重點渠道的全面覆蓋，年內收入同比增長13.9%，產品結構向高價值及高盈利方向發展；北美市場中高端戰略有效落地，實現了收入和ASP雙提升，年內收入同比增長11.2%，ASP同比提升超20%；而在拉美、中東非及亞太等新興市場，公司積極推進本土化運營，並持續加強線下渠道與電商平台協同發展的雙軌策略，帶動TCL TV收入同比增長19.8%，有效釋放規模增長潛力。2025年，TCL TV在海外超20個國家市佔率排名前3^[6]。

在國內市場方面，在終端需求疲軟影響行業整體出貨規模下滑的情況下，公司憑藉中高端產品戰略，大呎吋顯示業務逆勢實現市場份額的持續提升。年內，公司核心高端產品表現亮眼。其中，TCL Mini LED TV出貨量同比增長33.6%，出貨量佔比同比提升7.2個百分點至22.5%；TCL量子點TV出貨量同比增長29.6%，出貨量佔比同比提升6.4個百分點至21.2%，高端產品陣容持續擴容。中高端化亦帶動大屏化趨勢持續凸顯，2025年國內65吋及以上TCL TV出貨量佔比提升至57.6%，平均尺寸擴大至64.3吋。產品結構的顯著改善帶動國內市場整體毛利率同比提升1.9個百分點達21.7%，盈利水平大幅改善、經營質量穩步增長。

年內，中小呎吋顯示業務堅持「效率優先，聚焦重點市場」的策略，深耕歐洲、北美一線網絡運營商渠道，鞏固與核心合作夥伴的戰略關係，實現了穩健發展。2025年，本集團中小呎吋顯示業務收入同比增長17.8%至99.7億港元，毛利同比增長10.4%至14.4億港元。

此外，本公司的智慧商顯業務復用TV全球領先的資源優勢，聚焦辦公、零售、餐飲、展覽四大場景，不斷提升產品競爭力，於2025年錄得收入同比增長28.4%至11.2億港元，毛利同比增長24.0%至1.4億港元。

深化與國際巨頭合作，AI驅動TV端交互升級，互聯網業務量利齊增

TCL電子持續在全球範圍內緊抓AI技術發展新機遇，深耕全球家庭互聯網賽道，以用戶為中心，強化AI與內容生態構建，不斷提升用戶體驗的。年內，公司之互聯網業務實現業務規模與盈利質量同步提升，收入錄得同比增長18.3%至31.1億港元；毛利同比增長18.8%至17.5億港元；毛利率高達56.4%，盈利能力持續強勁。

在國際市場，TCL持續深化與Google、Roku、Netflix等國際巨頭的戰略合作，旗艦機型率先接入Google Gemini，升級AI交互體驗，同時完成內容聚合應用TCL Channel全面升級，優質內容佔比翻倍，刺激日均使用總時長同比大幅提升150.0%。截至2025年底，TCL Channel全球累計用戶規模突破4,570萬，內容吸引力與商業化變現能力同步顯著增強，進一步夯實全球化家庭互聯網業務的領先優勢。

國內市場依托自有OTT智能終端運營平台，聚焦AI內容生成與交互體驗升級。在產品創新方面，重點聚焦TV端AI體驗升級，打造更為極致的交互體驗。同時，公司以AI技術打造自主版權「內容工廠」，在少兒領域實現AIGC內容規模化落地，並通過自研工具Agent提升AI漫劇創作效率，同時AI硬件Amby Uni成功投放市場。年內持續優化互聯網業務結構，鞏固在全球家庭互聯網領域的領先地位。

輕資產模式驅動光伏業務高品質增長，多元AI佈局構建長期競爭優勢

公司憑藉持續加大研發資源投入，聚焦AI技術研發，佈局第二增長曲線，並借助全球營銷及品牌力的提升，年內創新業務規模持續擴張，2025年收入同比大幅增加31.9%至356.3億港元。

光伏業務在國內市場堅持「相對輕資產」模式，建設電力市場化交易能力，並深化渠道合作，運營效率與相對競爭力持續提升，進入高品質發展階段；海外業務聚焦歐洲重點國家，協同SunPower品牌優勢，加快推進「光儲熱」產品及業務發展。2025年，光伏業務收入同比增長63.6%至210.6億港元，毛利額同比增長47.5%至18.1億港元。2025年，光伏業務在國內新增裝機量達8.0GW，累計工商簽約項目超340個，累計經銷商渠道超2,530家，累計簽約農戶近36萬戶。

在AR/XR賽道方面，公司旗下孵化的雷鳥創新持續保持行業領先地位。2025年，雷鳥創新中國AI/AR眼鏡市場份額32%，以絕對優勢位居第一^[7]；2025年中國AR眼鏡線上市場，雷鳥創新銷量份額為35.4%，在市場競爭快速升溫的背景下保持高速上漲，連續四年穩居中國線上全渠道市場的第一^[8]。在產品創新方面，公司於2025年10月發佈全球首款HDR眼鏡雷鳥Air 4，集成七大技術亮點，引領行業技術發展。在CES 2025上，公司發佈全球首款分體式智能家居陪伴機器人TCL AiMe，將AI技術、物聯網控制和家庭陪伴功能完美融合，隨着智能家居生態日趨成熟，TCL AiMe等創新產品有望成為未來家庭標配，展現出巨大的市場潛力。

未來展望:以AI驅動產業升級，聚焦盈利與規模雙提升，實現高質量發展

展望未來，公司將持續秉持「戰略引領、創新驅動、先進製造、全球經營」的經營理念，主航道業務堅定「全球化」與「中高端化」雙輪戰略，新業務板塊以AI創新與數智賦能為重要驅動，持續擴張全球規模，全力提升盈利能力，實現高品質可持續發展。股東回報方面，公司高度重視股東長期價值。未來，公司將保持業務穩健增長的同時持續優化資本結構，以確定性的業績為股東兌現可持續、高質量的長期回報。

有關 TCL 電子

TCL 電子控股有限公司（01070.HK，於開曼群島註冊成立之有限公司），自 1999 年 11 月起於香港聯交所主板上市，業務範圍涵蓋顯示業務、創新業務以及互聯網業務。TCL 電子以「戰略引領、創新驅動、先進製造、全球經營」為經營理念，積極變革創新，聚焦突破全球中高端市場，努力夯實「智能物聯生態」全品類佈局，致力為用戶提供全場景智慧健康生活，致力成為全球化經營的領先智能終端企業。TCL 電子已獲納入深港通之合資格港股通股份名單，是恒生港股通指數、恒生綜合中大型股指數及恒生綜合中型股指數基準指數成份股，並從 2018 年起連續多年獲得恒生指數公司授予 ESG 評級 A。

如欲查詢更多資料，請瀏覽 TCL 電子投資者關係網站 http://electronics.tcl.com，或訪問 TCL 電子投資者關係官方微信公眾號。

BEIJING, March 27, 2026 /PRNewswire/ -- Maoyan Entertainment ("Maoyan" or the "Company", 1896.HK), a leading platform providing innovative Internet empowered entertainment services in China, today announced its audited consolidated results for the year ended December 31, 2025.

Full Year 2025 Financial Highlights

• Revenue was RMB4,631.5 million, representing a year-over-year increase of 13.5%, compared with RMB4,082.2 million in 2024.
• Gross profit was RMB2,004.1 million, representing a year-over-year increase of 23.3%, compared with RMB1,625.0 million in 2024.
• Operating Profit was RMB724.4 million, representing a year-over-year increase of 269.8%, compared with RMB195.9 million in 2024.
• Profit was RMB563.1 million, representing a year-over-year increase of 209.6%, compared with RMB181.9 million in 2024.
• Adjusted EBITDA^[1] was RMB860.8 million, representing a year-over-year increase of 138.1%, compared with RMB361.6 million in 2024.
• Adjusted net profit^[2] was RMB677.1 million, representing a year-over-year increase of 118.7%, compared with RMB309.6 million in 2024.

BUSINESS REVIEW 

According to the data released by the China Film Administration (國家電影局), the total box office nationwide in 2025 reached RMB51.832 billion, representing a year-on-year increase of 21.95%, and the number of moviegoers in urban cinemas was 1.238 billion, representing a year-on-year increase of 22.57%. The offline performance market continued to maintain its vigorous upward development trend. According to the National Performance Market Development Briefing for 2025 (《2025全國演出市場簡報》) released by the China Association of Performing Arts (中國演出行業協會), the commercial performance box office revenue nationwide in 2025 was RMB61.655 billion, representing a year-on-year increase of 6.39%.

During the Reporting Period, the number of released movies in which the Company was involved and their box office performance continued to rank at the top among industry leaders. The number of movies for which we acted as a lead distributor continued to increase, and the core advantages of our promotion and distribution services were further enhanced. Our live entertainment business continued to outperform the overall market in GMV growth, and our market competitiveness continued to increase. With the profitability improving steadily, the Company continued with the arrangements for the shareholder return.

Entertainment Content Services

As a leading film promoter and distributor, we continued to actively participate in the promotion and distribution/production of movies, providing a wide range of services for an increasing number of domestic and imported movies, and further enhancing our promotion and distribution advantages. During the Reporting Period, we participated in the promotion and distribution/production of 73 films, including 55 domestic films and 18 imported films, with both the quantity and box office coverage reaching historic highs for the same period.

During the Reporting Period, we continued to leverage our promotion and distribution capabilities and advantages, and completed systematic iterations in three dimensions: strategic precision, rhythm compatibility, and infrastructure standardization. By combining the film types and their own characteristics, and based on our advantages such as data analysis and industry experience, we continued to optimize and iterate promotion and distribution strategies, crafting out highlight strategies such as emotional marketing and content co-creation promotion and distribution. This helped films achieve excellent box office results. For instance, in the promotion and distribution of Nobody (浪浪山小妖怪), we focused on details of life and the workplace, accurately capturing the emotional needs of the audience from "being watched" to "being empathized with". For The Legend of Hei 2 (羅小黑戰記2), we collaborated with over a thousand pop-up themed cinemas and hosted hundreds of innovative interactive ceremony sessions. By creating immersive consumption scenario experiences and stimulating the emotional resonance of moviegoers, we successfully boosted the box office. Similarly, Disney's ZOOTOPIA 2 (瘋狂動物城2), for which we played a key role in the promotion and distribution, grossed RMB4.593 billion, contributing to Hollywood reassessing the potential of the Chinese film market.

Leveraging our experience and advantages in promotion and distribution, as well as our evergrowing movie selection capabilities and data accumulation, we participated in the promotion and distribution of 68 movies during the Reporting Period, among which we acted as a lead distributor for 48 movies, setting a new record in terms of the number of movies. Furthermore, a number of the movies we distributed/produced delivered outstanding box office performance during several important release periods. For instance:

• During the Spring Festival season, DETECTIVE CHINATOWN 1900 (唐探1900), for which we acted as a lead distributor/producer, became the runner-up of the season with a box office of RMB3.612 billion. Based on this, for five consecutive years during the Spring Festival season, movies for which we acted as a lead distributor have maintained the outstanding performance of ranking in the top two of the season;
• During the May Day holiday, The Dumpling Queen (水餃皇后) and A Gilded Game (獵金•遊戲), for which we acted as a lead distributor/producer, ranked first and second in box office for the release period, respectively;
• During the Qingming Festival, Doraemon The Movie: Nobita's Art World Tales (哆啦A夢：大雄的繪畫奇遇記), for which we acted as a lead distributor/producer, and ENDLESS JOURNEY OF LOVE (時間之子), which we developed, ranked second and third in box office for the release period, respectively;
• During the summer movie season, Nobody (浪浪山小妖怪) and The Lychee Road (長安的荔枝), for which we  acted as a lead distributor/producer, ranked second and fourth in box office for the release period, respectively;
• During the National Day season, The Volunteers: Peace at Last (志願軍：浴血和平) and A Writer's Odyssey II (刺殺小說家2), for which we acted as a lead distributor/producer, ranked first and third in box office for the release period, respectively;
• During the Chinese New Year's release period, ZOOTOPIA 2 (瘋狂動物城2), Avatar: Fire and Ash (阿凡達3),  and Gezhi Town (得閒謹制), for which we acted as a promoter/distributor/producer, ranked among the top three of the season.

Moreover, several of the aforementioned movies won or were nominated for awards at the China Golden Rooster Awards (中國電影金雞獎), the Shanghai International Film Festival (上海國際電影節), the Macau International Movie Festival (澳門國際電影節), and the Golden Singa Awards (新加坡國際華語電影金獅大賞).

In addition, our promotion and distribution services for imported films achieved phased results. In 2025, we participated in the promotion/distribution/production of 18 imported films, setting a historic high for the same period in terms of service quantity. Notably, we provided promotion/distribution services for all of the top five imported films in terms of annual box office, achieving effective coverage of the core box office of imported films. Moving forward, we will continue to enhance our promotion and distribution service capabilities for top-tier imported movies.

Currently, a series of movies for which we acted as a distributor/producer are already scheduled, and we have a diverse pipeline of high-quality movie content covering varied themes, which are steadily progressing and will be released as opportunities arise, such as:

Online Entertainment Ticketing Services

The performance market has continued to remain robust since the beginning of 2025. We continued to strengthen investment in all aspects of the performance business, including establishing cooperation across the industry chain, and enhancing fundamental service capabilities including infrastructure construction and on-site team building, thereby consistently reinforcing the Company's core competitiveness. During the Reporting Period, our total performance GMV growth rate far exceeded the industry performance. In particular, the GMV and coverage of local performance projects continued to increase, with local Quyi shows, talk shows, and e-sports and other categories delivering outstanding results. For example, the GMV of local Quyi shows and talk shows increased by 90% and 70% year-on-year, respectively. During the Reporting Period, we provided high-quality service and on-site ticketing support as a general ticketing agent for thousands of large-scale performance projects, representing a year-on-year increase of over 30% in terms of the number of projects, providing services to artists including but not limited to Jacky Cheung (張學友), Jay Chou (周杰倫), Eason Chan (陳奕迅), Leehom Wang (王力宏), Han Geng (韓庚) and David Tao (陶喆). We also actively explored upstream content production for performance projects, by utilizing the business connection and synergy advantages of film + performance to form effective coordination between film and television artists/creators and the performance business. Such exploration has expanded the possibility of content reserve and stimulated new market demands.

It is noteworthy that in overseas regions, especially Hong Kong and Macau, the performance categories we serve have become increasingly diversified, with the sales scale achieving breakthrough high-speed growth. During the Reporting Period, we continued to maintain stable and good cooperation with multiple venues including AsiaWorld-Expo, Galaxy Macau, and Sands Macao. In addition, we maintained active cooperation with various organizers, with scope of cooperation covering multiple categories such as concerts, theater performances, and sports events, such as well-known sports events like WTT Champions Macao 2025 (WTT澳門冠軍賽2025), WTT Finals Hong Kong 2025 (WTT香港總決賽2025), and the RED on RED: Gerrard 11 vs Rio 11(雙紅會：謝拉特、費南迪邀請賽). In addition, we maintained stable cooperation with performance partners in a number of Southeast Asian countries and regions.

We continued to plough resources into the online movie ticketing business, thereby maintaining our leading position and consistently committing to actively providing professional full-chain services for the film industry. During the Reporting Period, we actively innovated commercial scenarios for movie ticketing, assisting theaters in refined operations and commercial marketing capabilities. Meanwhile, we helped to create an innovative mutual entertainment marketing model for the theater industry, using theaters as the core scenario to help realize a new ecosystem for local entertainment consumption. On the other hand, we further strengthened the synergy capabilities between our platform services and ticketing system partners, with services covering more than 4,000 cinemas nationwide, and continued to provide high-quality system services for more cinemas. Furthermore, we continued to enhance our service capabilities for film festivals and government-sponsored cultural activities. In addition to serving as the official ticketing platform for the Beijing International Film Festival for five consecutive years, we also provided full-process assurance such as ticketing and thematic promotional campaign for multiple film festivals including the 49th Hong Kong International Film Festival and the 12th Silk Road International Film Festival. During the Reporting Period, we also collaborated with government departments across multiple provinces, cities, and districts to implement a series of cultural benefit activities, helping to boost the vitality of the cultural consumption market.

Advertising Services and Others

We continued to explore the IP derivative business. Currently, we have established the fulllink capabilities spanning from IP copyright to development, production, and sales. During the Reporting Period, we participated in cooperation for 14 animated films, covering classic imported animation and Chinese original animation, while balancing mature IPs with new project exploration into rich project types and diverse styles. Through the gradual advancement of multiple projects, we have achieved verifiable results. On one hand, we are rooted in the upstream of the film and television industry chain, taking high-quality film content as a launchpad to explore diverse directions for film IP and derivative businesses. In 2025, we carried out joint cooperation in the "film promotion and distribution + IP derivatives" with films such as The Legend of Hei 2 (羅小黑戰記2) and Demon Slayer: Kimetsu no Yaiba Infinity Castle (鬼滅之刃：無限城篇). For example, created in collaboration with Chaoyang Culture & Tourism's Chaoyang Park, the "Meeting Hei" summer themed park achieved significant breakthrough effects and derivative revenue growth. In addition, we once again collaborated with Chaoyang Culture & Tourism to hold the Demon Slayer IP city-walk check-in event, with the gameplay spreading from a single point to regional radiation, achieving a larger scale of IP exposure and an immersive experience event focused on exhibition and sales. Meanwhile, we also continue to explore the IP path for original films. Based on the image of "Huhu", the panda IP image from the first Chinese pandathemed film series PANDA PLAN (熊貓計劃) developed by us, we developed and operated various derivatives that are extensively connected to the characteristics of Yunnan culture and tourism, thereby realizing the extension and synergy of "content-consumption-tourism" strategy. On the other hand, we are strategically developing our image-based IP portfolio, such as Xing You Ye and Potato Dog. This year, we will also cooperate with multiple domestic and foreign film projects on IP derivative rights, including Demon Agent (大唐妖探), All Wishes Come True! (八仙), Peppa Pig's Perfect Holiday (小豬佩奇•完美假期), Minions & Monsters (小黃人大眼萌3), and Toy Story 5 (玩具總動員5). We have also established deep strategic partnerships with companies such as Universal and Disney in areas including cinema distribution channels and Maoyan's proprietary IP channels. As for offline business operation, we will launch the new retail brand "MmmGoods吃穀子", which starts from film IPs and extends to diverse entertainment scenarios, covering all categories of IP merchandise. Our first IP-themed new retail flagship store is expected to officially commence operation in Beijing in the first half of this year.

We also continued to increase our investment and application in AI and big data infrastructure. In addition to utilizing big data algorithms to provide timely and accurate movie box office decision-making basis for the entire industry, we also strengthened the construction and reserve of box office forecast capabilities for performance projects, assisting the Company's participation and promotion and distribution decisions for performance business, and accumulating multiple successful cases and business logic for rapid replication and adaptation of crossover performance projects. In terms of movies, in addition to continuing to efficiently generate various promotion and distribution materials such as images and videos through AI technology, we established multi-level business and technology collaborations with various AI companies in the industry. For example, we carried out cross-border collaboration with Unitree Robotics to transform the virtual character "Huhu" from the movie into a touchable and interactive physical panda through robotic technology.

As a senior industry insider, Maoyan Research Institute (貓眼研究院) has always maintained its market acumen by continuing to release data insights for key seasons such as the Spring Festival, summer, and National Day, accurately conveying user feedback and empowering upstream creation with data. While simultaneously consolidating core services such as test screenings and promotion and distribution monitoring, it actively expanded research boundaries by introducing IP public opinion analysis and project target audience research based on big data. This helps projects accurately lock in audiences and effectively avoids risks during the development period.

OUTLOOK

As of March 24, 2026, the total box office nationwide in 2026 has exceeded RMB11.6 billion. Notably, during the Spring Festival season this year, PEGASUS 3 (飛馳人生3), for which we acted as a lead distributor/producer, became the box office champion of the season with a box office of RMB4.314 billion. This also marks the sixth consecutive year that films under our lead distribution have maintained the outstanding performance of ranking in the top two during the Spring Festival season.

As a key participant in China's film industry, we have witnessed and felt privileged to experience a year where Chinese cinema forged ahead on the path of high-quality development with fruitful results. In a complex and volatile market environment, we will adhere to the core development strategy of "Technology + Pan-Entertainment" to deepen our presence in the pan-entertainment industry, by consistently improving our core competitiveness and profitability, and upholding our original aspiration of serving as the "service provider" for the entire industry to better serve high-quality film content across the industry.

• We will continue to maintain and consolidate the market competitiveness of the entertainment content business, further leveraging our leading advantages and capabilities in movie promotion and distribution, continuing to focus on high-quality content, deepening the breadth and depth of our participation in the lead promotion and distribution and production of blockbusters, creating more high-quality and high-impact premium content to enhance brand competitiveness, as well as continuing to explore content creation and technological capability iteration;
• By tapping into the advantageous capabilities and resource spillover in the entertainment content, we will continue to focus on the IP derivative business, deepen the IP value and build a comprehensive IP ecosystem, building a new moat around our IP assets as the new business segment and creating a second growth curve for the next stage. In addition, we will continue to explore the application of AI across the entire film production, promotion and distribution chain, develop new scenarios and models in collaboration with partners such as cinemas, and further drive business exploration and innovation;
• We will continue to increase our long-term investment in the performance business, strengthen in-depth cooperation across the entire industry chain, and enhance infrastructure construction and service capabilities to further consolidate and enhance the Company's market competitiveness. At the same time, capitalizing on the existing platforms and business growth opportunities in Hong Kong and Macau, we will continue to expand our commercial cooperation scenarios in these regions and beyond, actively exploring new growth space and development potential.

Last but not least, we would like to express our sincere gratitude to all of our colleagues, shareholders, and industry partners for their trust and support. Let us forge ahead together and propel the high-quality development of the film industry, advancing China's transformation into a cinematic powerhouse.

About Maoyan Entertainment

Maoyan Entertainment (1896.HK) is a leading technology-driven entertainment company providing diversified services and valuable industry insights in China's pan-entertainment industry. The Company's mission is to make it easy to create, deliver, and enjoy great entertainment. Based on its core development strategy of "Technology + Pan-Entertainment", the Company has grown from an online movie ticketing service provider into an innovative one-stop platform with comprehensive entertainment services. For more information, please visit https://ir.maoyan.com/.

Non-IFRS Financial Measures

To supplement the consolidated results of the Company prepared in accordance with IFRS, certain additional non-IFRS financial measures (in terms of, operating profit, operating margin, profit for the period, net margin, profit attributable to equity holders of the Company, basic EPS and diluted EPS), have been presented in this press release. These unaudited non-IFRS financial measures should be considered in addition to, not as a substitute for, measures of the Company's financial performance prepared in accordance with IFRS. In addition, these non-IFRS financial measures may be defined differently from similar terms used by other companies.

The Company's management believes that the non-IFRS financial measures provide investors with useful supplementary information to assess the performance of the Company's core operations by excluding certain noncash items and certain impact of M&A transactions. In addition, non-IFRS adjustments include relevant non-IFRS adjustments for the Company's material associates based on available published financials of the relevant material associates, or estimates made by the Company's management based on available information, certain expectations, assumptions and premises.

Forward-Looking Statements

This press release contains forward-looking statements relating to the business outlook, forecast business plans and growth strategies of the Company. These forward-looking statements are based on information currently available to the Company and are stated herein on the basis of the outlook at the time of this press release. They are based on certain expectations, assumptions and premises, some of which are subjective or beyond our control. These forward-looking statements may prove to be incorrect and may not be realized in future. Underlying the forward-looking statements is a large number of risks and uncertainties. Further information regarding these risks and uncertainties is included in our other public disclosure documents on our corporate website.