TRISTATE HOLD (00458) announced its annual results for the period ending December 31, 2025. Revenue was HK$3.626 billion, representing a decrease of 13.3% compared to the previous year. Profit attributable to equity shareholders was HK$125 million, down 19.8% year-on-year. Basic earnings per share were HK$0.46, and the board proposed a final dividend of HK$0.18 per share.

In 2025, revenue from the branded business segment amounted to HK$1.856 billion, an 8% decrease from the HK$2.025 billion recorded in 2024. Revenue from C.P. Company remained robust, increasing by 2.8% on a reported basis. However, revenue from domestic franchised brands was affected by weak consumer sentiment. Specifically, revenue from Nautica and Spyder declined by 12% and 24%, respectively, while revenue from Reebok fell by 32%.

During the year, revenue from the apparel manufacturing business was HK$1.770 billion, an 18% decrease from the HK$2.158 billion reported in 2024. This decline was attributed to reduced demand from certain customers and intensified market competition.