AFC Group (AFC) Trading update summary

Financial performance and position

• Revenue declined by 44% to NZ$741 thousand, with overseas wine sales dropping 62%.

• Net loss of NZ$185 thousand reported, reversing a prior net profit of NZ$54 thousand.

• Major expenses included salaries, sales commissions, and depreciation.

• Unaudited net assets stood at NZ$244 thousand, with cash and cash equivalents at NZ$4 thousand.

• No dividend will be distributed for the period, in line with policy.

Strategic initiatives and outlook

• Plans to expand wine product lines and strengthen overseas sales channels, especially in China.

• Domestic engagement increased through targeted email, social media, and wine exhibitions.

• Biotechnology segment aims to optimize distributor cooperation and expand secondary distribution.

• Active participation in international trade expos and e-commerce platforms to boost market access.

• Ongoing commitment to corporate social responsibility and community welfare in New Zealand and China.

Corporate updates

• Annual Report expected before end of June; Annual Meeting planned for early September 2025.

• Audit process for going concern assessment is ongoing, with management addressing related challenges.