IFBH (6603) investor relations material

Executive summary

• Revenue declined 46.7% year-over-year to US$50.4 million due to supply chain disruptions, subdued consumer sentiment, and deliberate channel restructuring in key brands.

• Net profit dropped 69.4% to US$4.6 million, with net margin at 9.1% versus 15.9% last year.

• International expansion delivered strong growth in Taiwan (+31.3%), USA (+133.2%), Philippines (+496.6%), and Laos (+454.4%).

• Mainland China remains the largest market, though its revenue share decreased from 92.6% to 85.6%.

Financial highlights

• Gross profit fell 54.2% to US$14.6 million; gross margin decreased to 28.9% from 33.7% year-over-year.

• Selling and distribution expenses dropped 25.9% to US$2.5 million, but as a percentage of revenue rose to 4.9%.

• Marketing expenses surged 72.2% to US$6.1 million, reflecting increased campaigns and new market entries.

• Administrative expenses decreased 31.9% to US$4.1 million, mainly due to absence of prior year listing costs.

• Cash at banks stood at US$162.6 million, down 0.8% from year-end 2025.

Outlook and guidance

• The RTD soft drink market in Greater China is projected to grow at a 6.4% CAGR to US$201.3 billion by 2030.

• Coconut water segment expected to expand at a 13.4% CAGR, reaching US$2.45 billion by 2030.

• Strategic focus on expanding sourcing, product innovation, and market penetration in China, Americas, and Southeast Asia.

• Optimism for long-term growth driven by health trends, plant-based diets, and rising incomes.