Ninestar Flags FY2025 Loss on Lexmark Disposal

Ninestar Flags FY2025 Loss on Lexmark Disposal

Ninestar issued a profit forecast for fiscal year 2025, expecting a net loss attributable to shareholders of between RMB 6.0 billion and RMB 9.0 billion (USD 0.87–1.30 billion), compared with a profit recorded in the previous year.

During the reporting period, Ninestar completed the sale of its 100% equity interest in Lexmark. In accordance with applicable accounting standards and transaction terms, the company expects to recognize an investment loss on the disposal. In addition, year-end impairment tests for inventories and goodwill are still ongoing. Together, the Lexmark disposal and potential asset impairments are expected to reduce FY2025 net profit attributable to shareholders by approximately RMB 7.0–9.0 billion (USD 1.0–1.3 billion).

In 2025, the Pantum printer business is expected to generate revenue of approximately RMB 38.0 billion (USD 5.48 billion), down about 19% year on year, with net profit of around RMB 3.45 billion (USD 0.50 billion), a decline of roughly 44%. Printer unit shipments fell about 17% for the full year, although fourth-quarter volumes rose around 40% quarter on quarter, indicating some late-year stabilization in demand.

Pantum’s printer shipments declined about 20% year on year. The company attributed part of the slowdown to a new guideline released in July 2025, which expanded certification requirements to include main control and AI-related chips, disrupting shipment timing. Overseas commercial printer shipments fell approximately 31% for the year, while domestic commercial shipments rose about 3%, with both markets seeing strong sequential growth in the fourth quarter.

Printing consumables business also faced margin pressure. Revenue is expected to reach about RMB 53.0 billion (USD 7.64 billion) after internal eliminations, down roughly 5% year on year. While sales volume increased around 2%, a net loss of RMB 0.4 billion (USD 0.06 billion) is forecast, representing a sharp decline from the prior year.

Related：

• Ninestar Awarded ISO 45001 Certification for Workplace Health and Safety
• Ninestar Posts Q3 Loss After Lexmark Sale
• Ninestar Achieves “AA” ESG Rating
• Ninestar Receives Prestigious Quality Award Recognition
• Ninestar Releases 2025 Half-Year Financial Report

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