Top Form International Limited (the “Group”) has released a profit warning indicating an expected net loss of up to HK$40 million for the six months ended 31 December 2025. This contrasts with a net loss of HK$15.8 million for the corresponding period ended 31 December 2024.

According to the announcement, the change is mainly attributed to reduced revenues arising from lower orders by a major customer. The decrease is considered a result of active inventory management amid heightened geopolitical uncertainties, global trade volatility, and evolving consumer demand. Additionally, the Group’s gross profit margin has been negatively affected by under-absorption of fixed costs due to idle capacity and a shift in its product mix toward lower-margin items.

Further details, including updated financial data, are expected to be disclosed in the official interim results announcement targeted for release on or around 25 February 2026. The Group has advised shareholders and potential investors to exercise caution when dealing in its shares.