V.S. INT'L reported unaudited interim results for the six months ended 30 June 2026, showing a notable earnings rebound driven by higher revenue, improved gross margins and reduced finance costs.

Revenue and Profitability • Revenue rose 11.4% year-on-year to USD 34.83 million, supported by stronger sales of plastic-moulded and electronic products. • Gross profit expanded 58.7% to USD 7.54 million; gross margin climbed to 21.65% from 15.19% a year earlier, reflecting tighter cost controls. • Operating profit more than doubled to USD 4.32 million. • Net finance costs fell 58.8% to USD 0.17 million, aided by lower interest-bearing borrowings. • Profit for the period surged to USD 3.16 million (2025: USD 0.91 million). Profit attributable to shareholders jumped to USD 2.24 million from USD 0.08 million, translating into basic earnings of 0.09 US cents per share (2025: 0.00 US cents).

Segment Performance • Manufacturing remained the growth engine, delivering revenue of USD 34.83 million, up USD 3.56 million. Segment result improved to USD 5.22 million. • Property Investments generated rental income of USD 0.32 million, quadrupling last year’s comparable figure after leasing vacant land and buildings in Zhuhai. • Solar Plant operations contributed electricity sales of USD 0.25 million, up 25.0%.

Cost Dynamics • Distribution costs decreased to USD 0.22 million following lower commissions. • General and administrative expenses rose 22.0% to USD 3.49 million, mainly due to higher R&D spending. • Staff costs increased to USD 6.12 million, reflecting headcount growth to 1,047 employees.

Balance Sheet and Liquidity • Total assets stood at USD 127.37 million, while equity attributable to owners reached USD 80.77 million. • Cash and cash equivalents plus restricted cash amounted to USD 11.79 million. • Interest-bearing borrowings, lease liabilities and a director’s loans totalled USD 9.34 million; 96% mature within one year. • Net cash position of USD 2.45 million and net current assets of USD 11.36 million underline an improved liquidity profile. • Secured banking facilities of USD 18.30 million are backed by pledged cash, buildings and other fixed assets.

Outlook and Strategy Management plans to deepen cost efficiencies through industrial automation and broaden its client base to enhance revenue. The Group is also seeking additional tenants for its investment properties. No interim dividend was declared.

Corporate Governance The audit committee reviewed the interim results, and the Company reported full compliance with the Hong Kong Corporate Governance Code, except for the combined roles of chairman and chief executive. There were no post-period significant events or contingent liabilities disclosed.