SINOMAX GROUP (01418): For 2024 and 2025, under the regional revenue classification, the revenue attributable to the United States, together with the revenue attributable to products ultimately distributed to the United States, was approximately HK$1.677 billion and HK$1.933 billion, respectively.

SINOMAX GROUP (01418) announced that, for the regional revenue classification, retail sales revenue is classified by the location of the relevant retail stores and consignment counters, while wholesale sales revenue is classified by the location of the relevant customers, which is determined based on the billing address recorded on the sales invoice. Accordingly, sales made to customers classified as located in (i) Mainland China and (ii) Hong Kong, Macau, Vietnam, other North American markets (excluding the United States) and other overseas markets (collectively, Other Regions) are attributed to Mainland China and Other Regions respectively, regardless of whether such customers subsequently sell, ship or distribute the relevant products to markets outside Mainland China or Other Regions (as the case may be), or incorporate the relevant products into finished goods. Therefore, the regional revenue classification may not identify the ultimate end market or place of consumption of the Group's products. In the relevant years, based on information available to the Group, certain customers located in Mainland China or Other Regions (as the case may be) subsequently sold, shipped or otherwise distributed the products purchased from the Group to the United States in their original form or after incorporating them into finished goods. The revenue derived by the Group from the sale of such products remains classified as revenue attributable to Mainland China or Other Regions (as the case may be), because the Group's direct customers for such sales are located in Mainland China or Other Regions (as the case may be). Since its establishment in 2005, the Group has developed its business in the United States through Sinomax USA Inc., a wholly-owned subsidiary of the Company. Its US operations include manufacturing, sales, distribution and customer development. The Group made an initial investment in MDK Holdings ApS (MDKH) in October 2024 and made a further investment in August 2025, further expanding its customer base and overseas business network. Following such investments, the Group acquired an aggregate 55% equity interest in MDKH, and MDKH has become a subsidiary of the Company. MDKH is principally engaged in the wholesale and retail of health and sleep products in Denmark, the EU and the United States. In addition, the Group completed the acquisition of intellectual property rights related to the US brand VIBE on 25 November 2025. According to the Group's regional revenue classification, in 2024 and 2025, revenue attributable to external customers in the United States was approximately HK$1.379 billion and HK$1.551 billion, respectively. Such classification is based on the location of the relevant retail stores and consignment counters or, for wholesale sales, the location of the relevant direct customers. These figures differ from the supplementary information on downstream distribution in the United States set out above and do not reflect any reclassification of the revenue described in such information. Based on the supplementary information on downstream distribution set out above, the revenue attributable to the United States under the Group's regional revenue classification, together with the revenue attributable to products ultimately distributed to the United States, was approximately HK$1.677 billion and HK$1.933 billion in 2024 and 2025, respectively. These figures show that, in terms of revenue attributable to the ultimate destination of products, the United States was the Group's largest end market in both years.