您的浏览器禁用了JavaScript(一种计算机语言,用以实现您与网页的交互),请解除该禁用,或者联系我们。 [港股财报]:VTECH HOLDINGS2025/2026中期报告书 - 发现报告

VTECH HOLDINGS2025/2026中期报告书

2025-12-01 港股财报 Andy Yang 杨敏
报告封面

25.4%16,7001 108,9709.0%99,110 LeapFrogVTech Baby® 4-in-1Steps & Stages Activity Center™Buzz & Learn ActivityTable™Get Growing Tractor & Mower Ride-On™Kidi Superstar Jr. DJ Mixer™LeapFrogStrum & Count Wooden Guitar™Preschool Game &Go™Touch & Learn eReader™ 14.5%7,470 14.7%29.534.6 17.0 LeapFrogMagic Adventures® GlobeLeapMove™LeapMoveLeapStart® Reading BuddiesLeapStartKidiZoom® SmartwatchTouch& Learn Activity Desk™LeapFrogAcademy™ 31.9%31.5% 12.1%39,83040.2% LeapMoveTargetBullseyeVTech Baby 4-in-1 Steps & Stages ActivityCenterGet Growing Tractor & Mower Ride-OnGood HousekeepingVTech Baby 4-in-1 Steps & Stages Activity CenterVTech Baby Explore & Move With Puppy™ CareLine®CareLine3Women’s Choice Award 2025 6.9%14,650Tecate4 8.0%8,480 AT&TDLP732902 Session Initiation ProtocolSIPNext GenSnomSIPSnom D8SIPGigaset LeapFrogLeapFrogLeapMoveLeapStart ReadingBuddiesMagic Adventures GlobeKidiZoom SmartwatchTouch & Learn Activity DeskKidiCom® LaRevue du JouetLeapMoveStory’Clock Maconteuse réveilSleep & Wake Storyteller™LeapMoveApprouvé parles familles 2026Approved by Families Award 2026Music’kid dello Zecchino d’OroLet’sRecord! Music Player™Gioco per sempre AWARDs2025Play Forever Toys Awards 20253-in-1 Mow & GrowTractor 7.2%42,90043.3% 5.5%14,4605 24.51520 LeapFrogLeapFrogMagic AdventuresKidiKidiZoomSwitch & Go Dinos®MarbleRush® GigasetComfort 550A690GigasetGigasetDECT6 SnomSIPSnomSIPD8GigasetDECTGigasetIPGigasetGigaset R700Hprotect PROconnect professionalIP Golden Slider202525 CAT-iq—CAT-iqMadeForMumsTech Awards 2025Dadsnet Awards 2025 5.6%15,04015.2% 25.5%17,920Wi-Fi 5.6%3,340LeapMoveLeapFrog72025 CBME25 8.2%890 5.4%1810 按產品類別劃分的其他地區收入 按產品類別劃分的亞太區收入 LeapMoveLeapStart Reading BuddiesExplore& Write Deluxe Activity Desk 11.3%1,3401.3% 5.3%800 28.0%540 GigasetCrewPTTpush-to-talkGigasetDECTGigaset ProWi-FiGigasetSnomSIPartificial intelligence Muar 108,9709.0%99,110 4,5904,1409.8%4.2% 31,5802,7708.1%31.5%31.9% 7,4701,27014.5%8.0%7.5%GloBE15% 9,2901,13010.8%9.6%9.4% 29.534.6 24,01022,40022.0%22.6% 14,94014,2304.8%13.7%14.4% 4,4804,03010.0%50304.1% 17.04,300 14,79015,020230 1,720 45,10036,0801062,5806.1%129138 20,44022,20019,8602440 42,90026,780565,29011.0%6360 28,76025,180973,47010.8%8997 1 34 2 2 34 •21 3 (a) 15 (b) 8 •••• 3 (b) (i) (ii) 3 (b) 4 (b) 5 GloBE15% 12 6 2018/198,800,000 (b)44.048.0111,400,000111,300,000121,500,000 4,400,0004,400,000 7 74,700,00087,400,000 252,800,000252,900,000 8 17,200,00038,900,000 11 585,800,000486,100,000600,900,000287,600,000251,800,000322,300,000 9 282,400,000177,000,000228,700,000 10 505,500,000331,200,000547,900,000429,000,000267,800,000481,900,000 12 (b) (i) (i)(ii)(iii) (ii) 12 (b) (iii) 23,346,57923,346,579 25,061,5799.9% (iv) 1%1% (v) (vi) 1.00 (vii) (1) (2) (3) (viii) 12 (b) (iv) (v)1,465,0001,465,000(i)(ii) (vi)166,66754.80 12 (b) 3.423.93 0.11% (i)(ii) 12 (b) (V)(iii) 100,000100,000 1,465,000500,000300,000 (c) 12 (c) (i) (i)(ii)(iii) (ii) (iii) 23,346,57923,346,579 25,061,5799.9% (iv) 1%1% (v) (vi) (vii) 275,000275,0001,900,0002,000,000 12 (c) (i) (ii)2,000,000275,600 (iv)(a)180,000180,00074,00074,000 (b) 12 (c) (v)(vi)54.09(vii)(viii)(ix)(x)(xi)(xii)1%(xiii) (V)(iii) 0.11% 68,100314,40047,60039,300 1,900,0003,700,000 13 13 • • • 13 13 5%5% 15 16 352C3XV (1)Honorex LimitedHonorex1,416,325Conquer Rex LimitedConquer Rex65,496,225Twin SuccessPacific LimitedTwin Success7,188,603HonorexConquer RexTwin SuccessTwin SuccessSurplus AssetsLimitedSurplus AssetsSurplus AssetsThe Allan Wong 2020 TrustButterfield Trust (Asia) LimitedButterfieldSurplus Assets74,101,153Twin Success66,912,550Surplus AssetsButterfieldButterfield74,101,153 (2) (3)The Allan Wong 2020 TrustThe Allan Wong 2020TrustButterfield (5) (7)12(b) 352XV XV3365% (1)(1)(2)Twin Success7,188,60366,912,550(3)(4)253,109,133 XV3365% C238407787 C1C.2.1 C.2.1 6976 4176 13.51B(1) C3 17.0 1,900,000275,000 Appleby GlobalCorporate Services (Bermuda) LimitedCanon’sCourt, 22 Victoria Street, PO Box HM 1179, Hamilton HMEX, Bermuda183171712-1716 Clarendon House2 Church StreetHamilton HM 11Bermuda 57123 •• Appleby Global Corporate Services (Bermuda) LimitedCanon’s Court, 22 Victoria StreetPO Box HM 1179, Hamilton HM EXBermuda 303 183171712-1716+852 2862 8555+852 2865 0990www.computershare.com/hk/zh/online_feedback 100253,109,133 57123+852 2680 1000+852 2680 1300investor_relations@vtech.comwww.vtech.com/tc/investors 17.0 (Incorporated in Bermuda with limited liability) 23rd Floor, Tai Ping Industrial Centre, Block 157 Ting Kok Road, Tai Po, New Territories, Hong KongTel: +852 2680 1000Fax: +852 2680 1300Email: investor_relations@vtech.comwww.vtech.com 57123+852 2680 1000+852 2680 1300investor_relations@vtech.comwww.vtech.com