Top Form International Limited has issued a profit warning, stating that its unaudited results for the year ended 30 June 2026 may show a net loss of up to HK$90.00 million. This compares with the HK$28.00 million loss recorded for the twelve months ended 30 June 2025, signalling a potential year-on-year deterioration of about HK$62.00 million.

Management attributes the expected setback to four main factors:

1. Revenue Decline: A significant fall in order volume from a major customer amid heightened geopolitical uncertainty and shifting consumer demand has compressed sales.

2. Margin Pressure: Under-utilisation of production capacity and a shift toward lower-margin products have reduced gross profit margins, exacerbating the earnings impact.

3. Impairment on Receivables: The Group intends to book an impairment loss of approximately HK$10.80 million on trade and other receivables due from an associated company.

4. Impairment on Other Financial Assets: An additional impairment provision of roughly HK$2.80 million is expected against other financial assets.

The figures are based on preliminary management accounts that remain unaudited. Top Form plans to release its final audited results on or about 29 September 2026. Until then, shareholders and prospective investors are advised to exercise caution when dealing in the company’s shares.