南顺(香港)2025/26中期报告

CORPORATE INFORMATION Board of Directors KWEK Leng Hai(Chairman)*LIM Shueh Hann(Chief Executive Officer)**Christian K. NOTHHAFT*WHANG Yixiang Remus*HO Yuk Wai, Joan#CHEUNG Man Ying#CHAU Siu Lun# ***Christian K. NOTHHAFT**### ***# *Non-executive director**Executive director#Independent non-executive director Board Audit and Risk Management Committee HO Yuk Wai, Joan(Chairman)Christian K. NOTHHAFTCHAU Siu Lun Christian K. NOTHHAFT Board Remuneration Committee CHEUNG Man Ying(Chairman)KWEK Leng HaiCHAU Siu Lun Board Nomination Committee KWEK Leng Hai(Chairman)HO Yuk Wai, JoanCHEUNG Man Ying Chief Financial Officer TSANG Chin Hung, Fanny Company Secretary LO Sze Man, Stella Place of Incorporation Registered Office 21 Dai Fu Street, Tai Po Industrial Estate,Tai Po, New Territories, Hong Kong 21 Share Registrar and Transfer Office 1831717121716 Computershare Hong Kong Investor Services LimitedShops 1712–1716, 17/F, Hopewell Centre,183 Queen’s Road East,Wanchai, Hong Kong (Information as at 25 February 2026) The board of directors (the “Board”) of Lam Soon (HongKong) Limited (the “Company”) would like to present theunaudited consolidated interim results of the Company andits subsidiaries (collectively the “Group”) for the six monthsended 31 December 2025 as follows: OVERVIEW For the six months ended 31 December 2025, the Groupoperated in a challenging environment. In Chinese Mainlandand Hong Kong, subdued consumer confidence, continueddowntrading and evolving consumption patterns weighedon demand across several traditional channels, whilecompetitive intensity remained high. Against this backdrop, the Group delivered broadly stablerevenue year-on-year. Profitability moderated comparedwith the prior year, as raw material cost inflation, particularlyin the Edible Oil and Home Care businesses, outpacedthe benefits of ongoing cost-saving initiatives. In theFlour business, management made deliberate pricingadjustments to safeguard market share and customerrelationships amid softer volumes in traditional channels.These measures, together with favourable bran prices,helped partially mitigate the impact. During the period, the Group focused on protecting its corebusinesses through disciplined execution, agile procurementand prudent cost management, while investing selectively tostrengthen long-term competitiveness. Progress was madein building management capability, advancing systems anddigitalisation initiatives to better navigate current conditionsand position the Group for future opportunities. SUMMARY OF FINANCIAL RESULTS For the six months ended 31 December 2025, the Grouprecorded revenue of HK$2,669 million, representing adecrease of 0.4% compared with HK$2,681 million in thecorresponding period last year. 2,669,000,0002,681,000,0000.4% Gross profit margin narrowed by 0.6 percentage points to23.0%, primarily due to the impact of higher raw materialcosts and targeted pricing incentives, which was partiallyalleviated by the positive contributions from favourable branprices and ongoing cost-saving initiatives. 0.623.0% SUMMARY OF FINANCIAL RESULTS (continued) Profit attributable to shareholders for the period amountedto HK$176 million, representing a decrease of 6.5%compared with the prior period. 176,000,0006.5% As at 31 December 2025, the Group’s cash balance stoodat HK$1,965 million, representing an increase of 2.6%compared with the previous financial year end. The Groupmaintained a strong liquidity position, providing flexibility tosupport ongoing operations and future development. 1,965,000,0002.6% INTERIM DIVIDEND 0.1537,000,0000.1537,000,000 The Board had declared an interim dividend of HK$0.15per share amounting to approximately HK$37 million forthe financial year ending 30 June 2026 (2024/25 interimdividend: HK$0.15 per share, approximately HK$37 million),which will be payable on Wednesday, 25 March 2026 tothe shareholders whose names appear on the Register ofMembers on Thursday, 12 March 2026, being the recorddate for determining shareholders’ entitlement to the interimdividend. BUSINESS REVIEW Food Segment The Food segment recorded revenue of HK$2,174 millionfor the six months ended 31 December 2025, representinga decrease of 1.7% compared with the correspondingperiod last year. Operating profit amounted to HK$184million, a decrease of 5.5% year-on-year. 2,174,000,0001.7%184,000,0005.5% The Flour business operated against a more demandingoperating backdrop during the period, as changingconsumption dynamics in Chinese Mainland affecteddemand in traditional bakery channels and certain foodmanufacturing segments. While volume pressure in thesechannels outweighed growth from new customers andfaster-growing applications, the Group made continuedprogress in repositioning the business. BUSINESS REVIEW(continued) Food Segment(continued) The Group has been actively adjusting its commercial andtechnical approach to better align with evolving customerneeds, strengthenin