NVC International reported H1 2026 revenue of US$119.50 million, up 11.5% year-on-year, driven by a 12.4% rise in international sales. Gross profit slipped 3.2% to US$39.27 million as gross margin narrowed to 32.9% from 37.9%, reflecting higher raw-material costs, freight charges and U.S. tariffs.

Net profit attributable to shareholders fell sharply to US$0.96 million from US$15.22 million in the prior-year period. Basic earnings per share dropped to US$0.19 cents from US$3.00 cents.

Geographically, non-NVC branded products sold outside China generated US$99.91 million, accounting for 83.6% of group revenue. NVC-branded products sold overseas contributed US$15.61 million, while domestic non-NVC sales declined 8.5% to US$3.98 million.

Operating expenses were broadly flat: selling and distribution costs edged down 3.7% to US$14.62 million, while administrative expenses rose 0.6% to US$16.07 million. Finance costs increased to US$0.40 million due to higher receivables financing.

The balance sheet remained robust. Cash and cash equivalents stood at US$122.98 million, net current assets at US$193.62 million and total equity at US$491.76 million. Capital expenditure during the period totalled US$2.55 million, funded by operating cash flow and bank loans.

On 2 June 2026 a third party injected RMB8.45 million (US$1.24 million) into subsidiary Zhejiang NVC, diluting the group’s stake to 80%. The transaction is classified as a deemed disposal under Hong Kong listing rules.

The board declared no interim dividend.

Looking ahead, management will keep the international lighting business as its core focus, expand cost-effective and smart product lines, and deepen penetration in the Middle East and Southeast Asia while continuing efficiency initiatives to counter cost inflation.