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Stella’s 2024 Net Profit Up 21%, Exceeding Targets of Three-Year Plan Once Again

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Full-Year Dividend Rises to HK171 Cents, Inclusive of Special Dividend of HK56 Cents Distributed under Excess Cash Return Program

Highlights:

  • Shipment volumes increased by 8.2%
  • Operating profit increased by 15.7% to US$184.5 million
  • Operating profit margin increased to 11.9%, from 10.7% last year
  • Net profit increased by 21.2% to US$170.1 million
  • Solid net cash position of US$417.6 million, representing an increase of 45.3% compared to US$287.4 million as at 31 December 2023
  • Recommended payment of final dividend of HK50 cents per share and an additional special dividend of HK56 cents per share under our Excess Cash Return Program. Total dividend for full-year 2024 is HK171 cents

HONG KONG SAR – Media OutReach Newswire – 20 March 2025 – Stella International Holdings Limited (“Stella” or the “Group”; SEHK: 1836), a leading developer and manufacturer of quality footwear and leather goods products, today announced its annual results for the year ended 31 December 2024.

Three-Year Plan (2023-2025) Delivering Strong Returns and Significant Value

In 2024, for the second consecutive year, we surpassed the dual targets of our Three-Year Plan – achieving a 10% operating margin and delivering low-teens annualized growth in profit after tax.

Revenue and shipment volumes increased by 3.5% and 8.2% respectively to US$1,545.1 million and 53 million pairs, driven by our Sports and Fashion categories. The average selling price (“ASP”) of our footwear products decreased year-on-year, due to a higher proportion of Sports products, which have a lower ASP, as well as raw material price deflation.

Margin Expansion Driven by Enhanced Customer Mix and Optimisation of Capacity Allocation

Our operating margin for the full-year expanded to 11.9% (before changes in fair value of financial instruments), compared to 10.7% in 2023. We accomplished this by executing our strategic initiatives focused on attracting and growing with our new customers, which allowed us to expand and diversify our customer portfolio and optimise the reallocation of our production capacity. The margin expansion was also attributable to enhanced operating leverage and efficiency improvement.

Due to the factors outlined above, the Group’s net profit increased by 21.2% to US$170.1 million. Excluding a net fair value change from its investment in Lanvin Group, the Group recorded an adjusted net profit of US$171.2 million (2023: US$147.6 million). Our adjusted net profit margin was 11.1% (2023: 9.9%).

Working Capital Optimisation Delivers Significant ROIC Improvement

In 2024, we delivered a Return on Invested Capital (ROIC) of 21.6%, more than a double of the 10% ROIC achieved in 2019. This success was driven by our strong working capital optimisation and efficiency, as well as our disciplined approach to capital expenditure and investments focused on maximising returns.

Solid Net Cash Position

We maintained our strong focus on managing our working capital usage and cash flow. As of 31 December 2024, our net cash position was US$417.6 million, an increase of 45.3% compared to a net cash position of US$287.4 million as at 31 December 2023. About US$100 million of the cash is reserved for completing our upcoming new sports footwear factory in Indonesia, and US$180 million is reserved for our Excess Cash Return Program for shareholders announced in August 2024. Therefore, the Group’s net gearing ratio was -37.4% as at 31 December 2024, compared to -26.9% as at 31 December 2023.

Final Dividend in Line With Normal Payout Ratio, With Additional Special Dividend of HK56 Cents Under Excess Cash Return Program

After considering the Group’s free cash flow situation, strong cash level, and pre-funded capital expenditure projects, the Board has resolved to recommend payment of a final dividend of HK50 cents per ordinary share. Combined with the interim dividend of HK65 cents per ordinary share, this maintains the Company’s normal payout ratio of approximately 71% set against our adjusted net profit.

We are also delighted to announce a special dividend of HK56 cents per ordinary share. This special dividend fulfils our promise to return US$60 million annually to our shareholders from 2024 to 2026, as we announced in our Excess Cash Return Program in August 2024, in addition to our normal payout ratio of about 70%.

As a result, the full-year dividend for the year ended 31 December 2024 is HK171 cents per ordinary share.

HSCI Inclusion and Stock Connect Unlock New Avenues for Global Investor Access and Liquidity

2024 marked several milestones that enhanced our market position and investor appeal. We became a constituent of the Hang Seng Composite Index (HSCI), a testament to our growing stature in the market. Additionally, we qualified for the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect programs, unlocking direct access for our mainland Chinese shareholders and broadening liquidity opportunities.

Outlook: Prioritising Maintaining High Product Quality Levels Through Controlled Expansion

We will likely face some macroeconomic headwinds and geopolitical uncertainties in 2025. Some of these will be partially offset as we ramp up shipments to out-performing customers in the high-end Fashion segment and begin shipments to new customers in the Sports segment, which should support a modest increase in overall shipment volumes in 2025. We will continue to optimise our production allocation between our Luxury and high-end Fashion categories and our non-Sports manufacturing facilities will continue to operate at close to full utilisation.

Our primary focus in 2025 will be maintaining high product quality levels as we gradually ramp up our new facilities in Solo, Indonesia, and Bangladesh. This controlled expansion aligns with our long-term strategy of ensuring quality growth, while increasing our capacity for higher-margin product orders. While we anticipate a moderation in the pace of our profit growth, we are confident about once again meeting our targets of a 10% operating margin and low-teens CAGR in profit after tax as set out under our Three-Year Plan.

Mr. Chi Lo-Jen, Chief Executive Officer of the Group, said, “Despite softening consumer sentiment, we are expanding production capacity to meet solid demand from our diversified customer base. While increased U.S. trade tariffs on China may present challenges to the market, most of our customers are leveraging our diversified production base to produce in multiple countries and adopting ‘China-for-China’ production strategies, which will help mitigate potential material impacts on our business.”

Mr. Lawrence Chen, Chairman of the Group, said, “Having largely achieved the objectives outlined in the Three-Year Plan, including enhancing our category mix, improving working capital, and strengthening cost efficiency, our primary objective in 2025 is to ensure quality growth. We remain fully committed to delivering value for our shareholders and all other stakeholders.”

Hashtag: #StellaInternational

The issuer is solely responsible for the content of this announcement.

About Stella International Holdings Limited

Stella International (SEHK: 1836) is a leading developer and manufacturer of quality footwear and leather goods. A trusted partner to many of the world’s most sought-after brands, it offers a unique proposition of unparalleled craftsmanship, production flexibility, and strong speed-to-market and commercialization capability, supported by a broad, diverse and proven manufacturing base across China and Southeast Asia.

Stella International was listed on the Hong Kong Stock Exchange in 2007. It is a constituent of the Hang Seng Composite Index and the MSCI Hong Kong Small Cap Index, and eligible to be traded on the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect.

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“YOU BRING CHARM TO THE WORLD — The 18th Global Chinese Awards” Concludes in Beijing

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BEIJING, CHINA – Media OutReach Newswire – 14 August 2026 – The “YOU BRING CHARM TO THE WORLD — The 18th Global Chinese Awards” came to a close at the Phoenix Center in Beijing on the evening of August 12.

On the evening of August 12, the “YOU BRING CHARM TO THE WORLD — The 18th Global Chinese Awards” concluded at the Phoenix Center in Beijing. The photo shows award recipients posing with presenters.

At this year’s awards ceremony, Academician Zhang Boli of the Chinese Academy of Engineering received the Global Chinese Lifetime Achievement Award, while actress Sylvia Chang received the Global Chinese Special Tribute Award. Academician Pan Jianwei of the Chinese Academy of Sciences, Lu Chaoyang, Chair Professor at the University of Science and Technology of China, picture-book illustrator Cai Gao, Chinese freestyle skier Xu Mengtao, Gao Du, professor at the Beijing Dance Academy, and actress Xin Zhilei received the Global Chinese Award.

In his speech, Xu Wei, Chairman of the Board and CEO of Phoenix TV, said: “Each generation of Chinese people has its own responsibilities. The older generation worked hard with their roots in their homeland, while the younger generation embraces innovation and the world, becoming connectors between different cultures.” Phoenix TV will continue to serve as an on-the-ground reporter of major global events, an international storyteller of Chinese culture, and a platform builder for international exchange, enabling audiences around the world to see more of the vibrant and diverse achievements of Chinese people.

The tribute section of the ceremony opened with an immersive children’s picture-book theatrical performance based on classic works including The Story of the Peach Blossom Spring and Bao’er. Both works were created by Cai Gao, who received the Hans Christian Andersen Award for Illustration in April this year. During the ceremony, the host recalled the children’s song Cai sang at the Andersen Award ceremony, prompting her to smile and sing “The Cuckoo” once again.

Upon receiving the Global Chinese Award, Cai Gao said that the splendid and outstanding artistic heritage of China has been a source of inspiration for her work, and that she has a deep love for the culture of this land. Seeing so many Chinese people achieve remarkable accomplishments in different fields has also given her spiritual strength. Quoting the phrase, “As long as life goes on, the struggle continues,” she encouraged herself to keep creating with passion and curiosity. “Life and creation require dedication and perseverance. I am willing to devote myself to them, as I always have.”

Joining the ceremony via video link, Lu Chaoyang shared his joy and said that the honor belongs to all Chinese researchers who have climbed, generation after generation, along the long and steep road of quantum science. Looking to the future, he offered this message: “The quantum world is very small, so small that it cannot be seen with the naked eye; but China’s dreams in science and technology are immense. Through fundamental innovation, we should illuminate a farther future for human civilization.”

In her acceptance speech, Xin Zhilei said she particularly liked the phrase “YOU BRING CHARM TO THE WORLD.” “Everyone is a unique ray of light in this world. Through our efforts and down-to-earth dedication, we each make our own small contribution to the beauty of the world. As an actress, what I can do is put my heart into every role and bring to the world a little bit of the unique color that belongs to me.” Lu Yang, director of Brotherhood of Blades II: The Infernal Battlefield, also sent his congratulations via video, expressing hope for continued collaboration and for the creation of more outstanding Chinese-language stories.

“If the dance steps of a people disappear, that chapter of history will also lose its voice.” Over the past 50 years, Gao Du and his team have traveled across more than 20 provinces and autonomous regions throughout China, venturing deep into remote mountains and visiting people’s courtyards and fireside gatherings. They learned from local communities dances that had no names, no stages and sometimes not even an audience, devoting themselves to the creation of the Chenxiang series.

Gao Du said he would continue dancing, both in the classroom and on larger stages, bringing folk dance traditions rooted in the land to the world and fostering dialogue among different cultures, so that the world can see the beauty of the East.

Wu Qingcai, Deputy Editor-in-Chief of China News Service, presented Xu Mengtao with the Global Chinese Award. Xu shared that August 13, 2026, marked exactly 24 years since she began competing in the aerials discipline of snow sports. She hopes everyone can create something extraordinary through perseverance and dedication. “In the future, I will once again stand on the starting platform and set off again. See you again at the summit.”

As one of the creators of the song Tomorrow Will Be Better, Sylvia Chang said that she and fellow Chinese-language singers hope to use music to build a bridge for peaceful communication. She expressed gratitude for being able to continue pursuing a career she loves and for having a wonderful family. “I hope to share this gratitude and these blessings with everyone.”

At the ceremony, the host recounted the eight-character motto that Academician Zhang Boli has followed throughout his life: “Uphold virtue to broaden its influence; use medical skills to serve humanity.” Now approaching 80, Zhang Boli continues to see patients at a clinic every week. When patients have difficulty walking, he takes the initiative to go downstairs and see them in their cars.

Zhang Boli said that the concepts of traditional Chinese medicine—including health preservation, wellness and preventive treatment—represent one of the best practices of “proactive health management.” Looking to the future with the compassion of a physician, he said: “Let traditional Chinese medicine benefit Chinese people around the world, and let traditional Chinese medicine benefit people everywhere. The world will be healthier because of traditional Chinese medicine.”

It is reported that the “YOU BRING CHARM TO THE WORLD — Global Chinese Awards” was initiated by Phoenix Media Group in collaboration with China News Service and numerous Chinese-language media organizations in China and overseas. Together, they select and honor outstanding Chinese people who have achieved excellence and made a global impact in different fields, helping to amplify the achievements of exceptional Chinese individuals and inspire more generations to come.

Hashtag: #PhoenixTV

The issuer is solely responsible for the content of this announcement.

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NINGJI Takes Centre Stage at KLCC, Strengthening Its Position as a Benchmark for Southeast Asian Expansion Through Five Key Localization Strategies

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HONG KONG SAR – Media OutReach Newswire – 14 August 2026 – From 23 to 25 July 2026, the ninth Franchise Expo Malaysia 2026 was held at the Kuala Lumpur Convention Centre (KLCC). As one of China’s leading new-style tea brands, NINGJI was invited to participate and quickly became one of the highlights of the exhibition with its distinctive brand appeal.

During the event, Dato’ Liew Bin, President of the Malaysia Retail Chain Association (MRCA), visited the NINGJI booth. The two parties exchanged views on NINGJI’s brand development, product offerings and expansion plans in the Malaysian market.

Backed by a proven store model and a comprehensive overseas support system, NINGJI attracted strong interest from high-quality investors throughout the event. Over the three-day exhibition, the brand successfully signed agreements for 20 new stores, bringing its total number of contracted stores in Malaysia to 82. Potential partners across multiple regions also expressed interest in establishing strategic partnerships with the brand, demonstrating NINGJI’s growing appeal in international markets.

Through product tastings and immersive interactive experiences, NINGJI also strengthened its connection with local consumers. The event generated several thousand new member registrations, building a valuable base of first-party customer data for future localized marketing initiatives.

As one of China’s leading new-style tea brands, NINGJI began its global expansion at the end of 2024. To date, the brand has signed agreements for more than 150 overseas stores across Malaysia, Singapore, Australia, New Zealand, the United States, Vietnam, Thailand, the Philippines, Indonesia, Cambodia and other markets.

In Malaysia, NINGJI currently operates nine stores, with more than ten additional locations in development. Its network is steadily expanding across key commercial districts, while the brand continues to strengthen its influence throughout Southeast Asia.

Five Localization Strategies for Malaysia, Ningji’s Anchor Overseas Market

With its young and diverse population, well-established food and beverage sector, and year-round tropical climate, Malaysia provides highly favourable conditions for refreshing fresh fruit and lemon tea beverages.

Against this backdrop, NINGJI has identified Malaysia as one of its core overseas markets and is systematically advancing its localization strategy across five key areas: store network development, supply chain infrastructure, product portfolio, organizational capabilities and brand marketing.

Expanding Across Key Commercial Districts and Empowering Every Store Through Digital Intelligence

NINGJI will use Kuala Lumpur and Johor Bahru as two strategic hubs, drawing on its proven store operating experience to establish a more refined system for site evaluation, store development and project management.

The brand has built strong digital capabilities, including an end-to-end digital system covering site selection and daily operations, as well as four AI-powered agents that provide franchise partners with integrated, data-driven support.

While steadily expanding its store network and market coverage, NINGJI remains equally focused on store-level operating quality and long-term profitability. The brand aims to build a high-quality retail network that reaches a diverse range of commercial districts and serves a broad customer base.

Strengthening the Local Supply Chain with a Forward Warehouse in Malaysia

Supply chain capability is the lifeline of any new-style tea brand. In China, NINGJI operates seven warehousing centres, manages more than 2,000 mu of lemon orchards. These capabilities have laid a solid foundation for the brand’s continued expansion.

NINGJI believes that genuine localization means combining the capabilities of its headquarters with local market resources. The brand plans to establish a forward warehouse in Malaysia by the end of the year.

Once operational, the facility will enable efficient “T+1” delivery across Malaysia’s key regions, helping stores reduce the risk of stock shortages while significantly lowering the amount of capital franchise partners need to commit to inventory. It will also provide strong logistical support for the continued expansion of NINGJI’s store network.

Balancing Classics and Innovation to Create Products for Local Tastes

NINGJI’s menu centres on fresh fruit lemon beverages paired with whole-leaf tea. Its use of fresh ingredients and made-to-order hand-shaken preparation gives the brand strong cross-cultural appeal and makes its products naturally suited to international markets.

In Malaysia, NINGJI has chosen not to simply replicate its existing menu. Instead, the brand has adopted a “signature products for customer acquisition plus localized innovation” strategy.

On the one hand, proven bestsellers led by Superior Taste Award-winning YaShiXiang Lemon Tea have launched in Malaysian, on the other hand, NINGJI continues to refine its ingredient transportation and storage solutions while developing products tailored to local flavour preferences and market conditions.

In addition to its consistently popular core products, NINGJI has already launched its new pineapple series in Malaysia. The well-received Lemon Milk Series is scheduled to make its official debut in October.

Moving forward, the brand will maintain a quarterly product launch cycle and continue using localized flavours and product innovation to energize the market.

Establishing a Regional Headquarters and Building a Professional Local Team

Local talent is essential for any brand seeking to establish deep and lasting roots in an overseas market.

NINGJI has already assembled a professional team in Malaysia covering local site selection, store development and operational management, and the team continues to grow. This will further enhance the brand’s responsiveness throughout the entire store development journey, from preliminary site selection and opening preparations to daily operations.

NINGJI also plans to establish a regional headquarters in Malaysia and further strengthen its partner support system across staff training, marketing and operational management.

By working alongside local franchise partners who share its commitment to long-term growth, NINGJI aims to expand the market and create greater opportunities together.

Communicating Across Cultures Through Localized Design and Marketing

NINGJI aims to become part of the everyday lives of Malaysian consumers.

In terms of visual presentation, the brand retains its signature yellow and green colour palette while incorporating local aesthetic preferences. Through its “one store, one design” approach, NINGJI creates open and comfortable social spaces tailored to different locations and communities.

From a marketing perspective, the brand will continue to engage with local festivals and cultural trends while collaborating with Malaysian KOLs and KOCs. By connecting social media content with offline experiences, NINGJI seeks to build an emotional relationship with consumers that goes beyond the products themselves and genuinely become part of the local lifestyle.

During its Kuala Lumpur market launch, for example, NINGJI invited Elyn Leong, a Malaysian member of the girl group Gen1es, to serve as “Store Manager for a Day.” Supported by extensive social media promotion, the “Lemon Tea for the Whole City” campaign generated more than one million views and tens of thousands of user-generated interactions across Xiaohongshu, Instagram and Facebook.

Committed to Long-Term Growth, NINGJI Creates Multidimensional Cultural Dialogue Through Localization

NINGJI believes that true globalization is not about simply replicating an existing model. It is a process of deep integration, continuous learning and ongoing refinement.

The brand continues to adapt its products, operations and communications to the consumer characteristics of each market, moving beyond simply “going global” towards becoming genuinely embedded in local communities.

A representative of NINGJI’s overseas business division said:

“Malaysia has a young, diverse and dynamic consumer market and is an important part of NINGJI’s international growth strategy. In the second half of 2026, while steadily expanding our store network, we will further advance the localization of our products, operations and brand communications. We will also continue strengthening our local team and supply chain infrastructure while building long-term relationships with more partners who understand the Malaysian market.”

Looking ahead, NINGJI will continue to build on its product strength and in-store experience while exploring diverse forms of collaboration with local business organizations, content creators and industry partners.

Starting with a cup of fresh fruit lemon tea, NINGJI aims not only to become part of Malaysian consumers’ everyday lives, but also to work alongside local partners to unlock new growth opportunities in the freshly prepared beverage market.

Hashtag: #NINGJI

The issuer is solely responsible for the content of this announcement.

About NINGJI

NINGJI, a leading new-style tea brand featuring fresh-fruit lemon and original-leaf tea, dedicated to multi-category beverage R&D, digitalized management and operations.

NINGJI opened its first store in Changsha, China, on 8 February 2021. July 2021, the company completed a Series A financing round worth tens of millions of RMB, with investment from ByteDance and Shunwei Capital.

January 2022, NINGJI completed a Series A+ financing round worth hundreds of millions of RMB, led by Tencent, with existing investors also oversubscribing.

Through its distinctive contemporary design and refreshing tea beverages, NINGJI communicates a youthful, flavourful and playful brand philosophy, as well as a more creative and trend-driven approach to everyday life. This positioning has earned recognition and support from consumers across different age groups.

NINGJI began its global expansion at the end of 2024. To date, the brand has signed agreements for more than 150 overseas stores across Malaysia, Singapore, Australia, New Zealand, the United States, Vietnam, Thailand, the Philippines, Indonesia, Cambodia and other markets.

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Powering the Future – Greenworks Power Takes Center Stage at North American Dealer Meeting, Opening a New Chapter in Global Battery-Powered Tools

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MOORESVILLE, UNITED STATES – Media OutReach Newswire – 14 August 2026 – At the 2026 North American Sales & Dealer Meeting, held August 10–12, Greenworks introduced its new strategic vision, Greenworks Power, under the “Powering the Future” proposition.

Rather than a product line, Greenworks Power strategically unifies products, technologies, applications and global capabilities.

From Tools to a Broader Energy Ecosystem

Greenworks is expanding “Power” from outdoor equipment to power tools; from residential to professional and commercial markets; and from conventional products to intelligent automation, electric mobility and energy solutions. Its unified technology foundation turns product innovation into scalable platform capabilities.

“Greenworks Power marks our evolution from product innovation to a platform-based ecosystem. With clean-energy and intelligent technologies, we will expand product and application boundaries, connect more products, scenarios and users, and create long-term value for global markets,” said Yin Chen, CEO of Greenworks.

24V PowerAll Pro: Redefining Professional Platform Value

For professionals, 24V PowerAll Pro unites more than 200 power tools and lawn and garden products in one battery ecosystem. From construction and maintenance to landscaping, one platform supports more products and tasks. Performance, quality, efficiency and ecosystem breadth deliver wider applications and greater long-term value.

New Products Expand Application Boundaries

Greenworks launch the all-electric Optimus UTV, extending its new-energy power systems into utility vehicle applications, while Optimus CUBE expands battery technology into energy storage, supply and management. Meanwhile, AiMowbot combines RTK positioning with wire-free intelligent mowing for mapping, navigation and autonomous operation.

Technology and Channels Support Global Growth

The ecosystem is supported by Greenworks’ battery, motor and electronic-control expertise, plus innovations including GaN charging. Greenworks integrates global R&D, smart manufacturing, supply chain, channel and brand resources. Retail, dealer, professional, e-commerce and DTC channels connect users and partners worldwide, while consistent brand messaging and localized offerings address regional needs.

From North America to global markets, Greenworks Power strengthens channel collaboration, brand momentum and long-term growth, expanding the boundaries of “Power” to create value for users and the industry.

Greenworks Power — Powering the Future.

Hashtag: #Greenworks

The issuer is solely responsible for the content of this announcement.

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