HK$2.48 ($0.32)

-0.08 (-3.12%)

Weekly Expected Move ±5.4%

HK$2 HK$2 HK$3 HK$3 HK$3

HKSE · Consumer Cyclical · Apparel - Manufacturers · Tech Score Buy · Power 66 · HK$3.1B mcap · 288M float · 0.107% daily turnover

Revenue

$7.8B +11.7% ▲

5Y CAGR: +4.3%

Gross Profit

$1.8B +15.7% ▲

5Y CAGR: +4.9%

Operating Income

$536M +18.1% ▲

5Y CAGR: +5.0%

Net Income

$184M +28.4% ▲

5Y CAGR: -8.7%

EPS (Diluted)

$0.15 +25.0% ▲

5Y CAGR: -9.0%

EBITDA

$1.1B +4.5% ▲

5Y CAGR: +1.7%

View Full Income Statement

Line Item	FY2020	FY2021	FY2022	FY2023	FY2024
Revenue	$6.0B	$8.3B	$7.9B	$7.0B	$7.8B
YoY Growth	-5.8%	+39.7%	-5.6%	-10.9%	+11.7%
Cost of Revenue	$4.7B	$6.3B	$6.0B	$5.4B	$6.0B
Gross Profit	$1.2B	$2.0B	$1.9B	$1.6B	$1.8B
Gross Margin	20.7%	24.5%	24.1%	22.6%	23.4%
R&D Expenses	$200M	$253M	$236M	$267M	$303M
SG&A Expenses	$770M	$998M	$882M	$713M	$809M
Operating Expenses	$975M	$1.2B	$1.1B	$1.1B	$1.3B
Operating Income	$266M	$759M	$788M	$454M	$536M
Operating Margin	4.5%	9.1%	10.0%	6.5%	6.8%
Interest Expense	$124M	$149M	$294M	$337M	$344M
Income Before Tax	$147M	$618M	$456M	$152M	$221M
Tax Expense	$21M	$97M	$73M	$9M	$37M
Net Income	$126M	$521M	$383M	$143M	$184M
Net Margin	2.1%	6.2%	4.9%	2.0%	2.3%
EPS (Diluted)	$0.10	$0.43	$0.31	$0.12	$0.15
EBITDA	$820M	$1.3B	$1.3B	$1.0B	$1.1B
Shares Outstanding	1.22B	1.22B	1.22B	1.22B	1.22B

Line Item	FY2022 Q2	FY2022 Q4	FY2023 Q2	FY2023 Q4	FY2024 Q2	FY2024 Q4	FY2025 Q2	FY2025 Q4
Revenue	$4.6B	$3.3B	$3.5B	$3.5B	$4.0B	$3.9B	$3.8B	$3.9B
Cost of Revenue	$3.5B	$2.6B	$2.8B	$2.7B	$3.0B	$3.0B	$3.0B	$3.1B
Gross Profit	$1.1B	$668M	$787M	$741M	$938M	$843M	$834M	$788M
Gross Margin	23.7%	20.5%	22.2%	21.3%	23.6%	21.8%	21.7%	20.3%
R&D Expenses	$118M	$100M	$125M	$139M	$154M	$149M	$137M	$145M
SG&A Expenses	$430M	$330M	$294M	$367M	$409M	$355M	$337M	$363M
Operating Expenses	$540M	$425M	$413M	$543M	$671M	$501M	$471M	$507M
Operating Income	$553M	$243M	$374M	$250M	$267M	$342M	$363M	$281M
Operating Margin	12.0%	7.4%	10.6%	7.2%	6.7%	8.9%	9.4%	7.2%
Interest Expense	$146M	$147M	$155M	$364M	$174M	$170M	$121M	$134M
Income Before Tax	$428M	$70M	$135M	-$31M	$94M	$135M	$208M	$195M
Tax Expense	$65M	$8M	$28M	-$38M	$18M	$19M	$63M	$57M
Net Income	$313M	$70M	$107M	$36M	$68M	$116M	$145M	$138M
Net Margin	6.8%	2.2%	3.0%	1.0%	1.7%	3.0%	3.8%	3.6%
EPS (Diluted)	$0.26	$0.06	$0.09	$0.06	$0.06	$0.10	$0.12	$0.11
EBITDA	$862M	$492M	$557M	$481M	$614M	$517M	$516M	$526M
Shares Outstanding	1.22B	1.22B	1.22B	1.22B	1.22B	1.22B	1.22B	1.22B

2199.HK HKSE