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FSM HOLDINGS (01721.HK) 1Q26 Manufacturing Business Sales Down Up to 59% YoY
FSM HOLDINGS (01721.HK) announced that in 1Q26, sales of the Groups manufacturing business declined by approximately 52% to 59% YoY. The decrease was mainly attributable to sancti...
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FSM HOLDINGS (01721.HK) 1Q26 Manufacturing Business Sales Down Up to 59% YoY
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FSM HOLDINGS (01721.HK)  0.000 (0.000%)   announced that in 1Q26, sales of the Groups manufacturing business declined by approximately 52% to 59% YoY. The decrease was mainly attributable to sanctions imposed by the United States on the Companys controlling shareholder, resulting in reduced orders from major customers, coupled with more cautious market sentiment amid ongoing geopolitical tensions. In response to weakening demand, the Group has scaled down its manufacturing operations in Singapore and Malaysia.

The Group has been in discussions with customers regarding new orders, with a view to supporting a gradual recovery in order volume and business performance.

As for the online business, the Group recorded no revenue in the first quarter, compared with revenue in the same period last year. Operating and development costs for the online mobile gaming business in 1Q26 were also lower than those in the same period last year, mainly due to reduced staff costs arising from mobile game development and a decrease in research and development activities.

The revenue decline was due to the suspension of game operations. This decision was based on multiple rounds of market testing conducted since 2H23 amid evolving market trends, which failed to generate sufficient market response. As a result, operating costs were expected to exceed anticipated player revenue. The Group will implement further technical and design improvements prior to any future launch.

The Group will continue to seek new opportunities and enhance the development strategy and operations of its online business. (sl/a)(HK stocks quote is delayed for at least 15 mins.)



This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

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