HK$1.34 ($0.17)

+0.01 (+0.75%)

Weekly Expected Move ±2.5%

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

HKSE · Consumer Cyclical · Apparel - Manufacturers · Tech Score Sell · Power 48 · HK$850.0M mcap · 192M float · 0.046% daily turnover

Analysis Technicals Weather Peers

Revenue

$200M -10.1% ▼

5Y CAGR: +18.0%

Gross Profit

$57M -10.2% ▼

5Y CAGR: +17.0%

Operating Income

$18M -7.4% ▼

5Y CAGR: +243.0%

Net Income

$16M -7.3% ▼

5Y CAGR: +171.4%

EPS (Diluted)

$0.03 -4.8% ▼

5Y CAGR: +164.1%

EBITDA

$19M -12.1% ▼

5Y CAGR: +60.2%

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$144M	$217M	$209M	$223M	$200M
YoY Growth	+63.8%	+51.2%	-4.0%	+6.9%	-10.1%
Cost of Revenue	$104M	$156M	$149M	$159M	$143M
Gross Profit	$40M	$62M	$60M	$63M	$57M
Gross Margin	27.6%	28.3%	28.7%	28.5%	28.4%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$34M	$40M	$42M	$42M	$39M
Operating Expenses	$34M	$42M	$42M	$41M	$39M
Operating Income	$6M	$20M	$18M	$22M	$18M
Operating Margin	3.9%	9.0%	8.5%	9.9%	8.8%
Interest Expense	$605K	$1M	$246K	$69K	$65K
Income Before Tax	$5M	$18M	$18M	$20M	$19M
Tax Expense	$979K	$3M	$3M	$3M	$3M
Net Income	$4M	$15M	$16M	$17M	$16M
Net Margin	3.0%	6.7%	7.5%	7.7%	7.9%
EPS (Diluted)	$0.01	$0.02	$0.02	$0.03	$0.03
EBITDA	$7M	$21M	$18M	$22M	$19M
Shares Outstanding	639M	637M	638M	636M	632M

Line Item	FY2022 Q4	FY2023 Q2	FY2023 Q4	FY2024 Q2	FY2024 Q4	FY2025 Q2	FY2025 Q4	FY2026 Q2
Revenue	$120M	$100M	$108M	$95M	$128M	$91M	$109M	$113M
Cost of Revenue	$86M	$72M	$76M	$69M	$90M	$65M	$78M	$82M
Gross Profit	$35M	$28M	$32M	$26M	$37M	$26M	$31M	$31M
Gross Margin	29.0%	27.9%	29.5%	27.5%	29.2%	28.6%	28.3%	27.6%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$22M	$21M	$21M	$19M	$23M	$21M	$19M	$25M
Operating Expenses	$23M	$21M	$21M	$22M	$20M	$21M	$19M	$25M
Operating Income	$13M	$7M	$11M	$5M	$17M	$5M	$12M	$6M
Operating Margin	10.9%	6.9%	9.9%	4.8%	13.6%	6.0%	11.1%	5.6%
Interest Expense	$0	$0	$0	$0	$0	$17K	$49K	$76K
Income Before Tax	$12M	$7M	$11M	$5M	$15M	$6M	$13M	$7M
Tax Expense	$2M	$1M	$1M	$740K	$2M	$1M	$2M	$1M
Net Income	$9M	$6M	$10M	$4M	$13M	$5M	$11M	$5M
Net Margin	7.8%	5.8%	9.0%	4.5%	10.1%	5.9%	9.7%	4.8%
EPS (Diluted)	$0.01	$0.01	$0.02	$0.01	$0.02	$0.01	$0.02	$0.01
EBITDA	$14M	$7M	$11M	$5M	$17M	$7M	$12M	$7M
Shares Outstanding	636M	637M	640M	636M	636M	636M	629M	630M

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