Ninestar Reports Sharp Revenue Decline in 2025

Ninestar Reports Sharp Revenue Decline in 2025

Ninestar has released its 2025 annual report, revealing a significant downturn in both revenue and profitability.

The company posted total operating revenue of 16.51 billion CNY ($2.42 billion USD), representing a year-on-year decline of 37.48%. It also reported a net loss attributable to shareholders of 718.21 million CNY ($105.34 million USD), marking a 195.86% drop compared to a profit in the previous year.

In its printer segment, Ninestar’s Pantum brand generated revenue of 3.77 billion CNY ($0.55 billion USD) in 2025, down 19.05% year-on-year. Overall printer sales declined throughout the year, though signs of recovery emerged in the fourth quarter.

Overseas printer sales were particularly impacted by weakened demand in Central and Eastern Europe. Meanwhile, in China’s government-driven Xinchuang market, updated evaluation guidelines began including printer main control chips and AI chips. As a result, Pantum adjusted its shipment schedule. While sales grew year-on-year in the first half, volumes declined in the latter half of the year due to these changes.

The company’s general consumables business recorded revenue of 5.16 billion CNY ($0.76 billion USD) and a net loss of 24 million CNY ($3.5 million USD). Amid intense competition and ongoing price wars in the consumables market, Ninestar has shifted strategy toward expanding overseas markets and developing higher value-added product lines to improve profitability and resilience.

In the integrated circuit segment, Geehy Semiconductor reported revenue of 1.09 billion CNY ($0.16 billion USD), down 21.99% year-on-year. However, its non-printing consumables chip business delivered stable growth, with revenue reaching 470 million CNY ($68.93 million USD), up 5.41% compared to the previous year.

Related：

• Ninestar to Change Name to Pantum Technology
• Ninestar Flags FY2025 Loss on Lexmark Disposal
• Ninestar Awarded ISO 45001 Certification for Workplace Health and Safety
• Ninestar Posts Q3 Loss After Lexmark Sale
• Ninestar Achieves “AA” ESG Rating

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