HK$0.68 ($0.09)

+0.00 (+0.00%)

Weekly Expected Move ±2.1%

HK$1 HK$1 HK$1 HK$1 HK$1

HKSE · Consumer Cyclical · Travel Lodging · Tech Score Sell · Power 47 · HK$345.3M mcap · 125M float · 0.034% daily turnover

Analysis Technicals Weather Peers

Revenue

$716M +4.7% ▲

5Y CAGR: +13.0%

Gross Profit

$186M -40.3% ▼

5Y CAGR: -3.6%

Operating Income

$128M -48.9% ▼

5Y CAGR: +12.7%

Net Income

-$178M +38.7% ▲

EPS (Diluted)

$-0.35 +38.6% ▲

EBITDA

$295M +42.2% ▲

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$514M	$613M	$606M	$684M	$716M
YoY Growth	+32.6%	+19.1%	-1.1%	+12.9%	+4.7%
Cost of Revenue	$239M	$232M	$416M	$373M	$530M
Gross Profit	$275M	$381M	$190M	$311M	$186M
Gross Margin	53.5%	62.1%	31.3%	45.5%	26.0%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$44M	$54M	$82M	$62M	$58M
Operating Expenses	$44M	$54M	$82M	$62M	$58M
Operating Income	$124M	$222M	$108M	$249M	$128M
Operating Margin	24.1%	36.2%	17.8%	36.4%	17.8%
Interest Expense	$8M	$25M	$60M	$61M	$43M
Income Before Tax	$111M	$693M	-$12M	-$288M	-$146M
Tax Expense	$29M	$41M	$73M	$20M	$34M
Net Income	$68M	$482M	-$73M	-$290M	-$178M
Net Margin	13.3%	78.7%	-12.0%	-42.4%	-24.8%
EPS (Diluted)	$0.13	$0.94	$-0.14	$-0.57	$-0.35
EBITDA	$226M	$822M	$173M	$207M	$295M
Shares Outstanding	512M	512M	512M	512M	512M

Line Item	FY2022 Q4	FY2023 Q2	FY2023 Q4	FY2024 Q2	FY2024 Q4	FY2025 Q2	FY2025 Q4	FY2026 Q2
Revenue	$249M	$251M	$355M	$320M	$364M	$334M	$382M	$339M
Cost of Revenue	$124M	$114M	$178M	$265M	$191M	$179M	$267M	$255M
Gross Profit	$125M	$137M	$177M	$55M	$173M	$155M	$114M	$84M
Gross Margin	50.4%	54.7%	50.0%	17.2%	47.6%	46.4%	29.9%	24.8%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$29M	$55M	$27M	$29M	$33M	$28M	$30M	$27M
Operating Expenses	$454M	$105M	$27M	$29M	$33M	$28M	$30M	$27M
Operating Income	$45M	$32M	$75M	$26M	$140M	$127M	$84M	$58M
Operating Margin	18.2%	12.9%	21.2%	8.2%	38.5%	38.0%	22.0%	17.0%
Interest Expense	$0	$0	$34M	$32M	$30M	$24M	$19M	$17M
Income Before Tax	$570M	$9M	-$21M	-$96M	-$192M	-$133M	-$13M	-$25M
Tax Expense	$9M	$5M	$68M	$8M	$13M	$12M	$22M	$18M
Net Income	$421M	$9M	-$82M	-$93M	-$197M	-$138M	-$40M	-$46M
Net Margin	169.0%	3.6%	-23.1%	-29.1%	-54.1%	-41.3%	-10.4%	-13.5%
EPS (Diluted)	$0.82	$0.02	$-0.16	$-0.18	$-0.39	$-0.27	$-0.08	$-0.09
EBITDA	$641M	$85M	$88M	$18M	$98M	$127M	$168M	$145M
Shares Outstanding	512M	512M	512M	512M	512M	512M	512M	512M

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