HK$7.86 ($1.00)

+0.08 (+1.03%)

Weekly Expected Move ±3.8%

HK$7 HK$7 HK$8 HK$8 HK$8

HKSE · Consumer Defensive · Beverages - Wineries & Distilleries · Tech Score Neutral · Power 51 · HK$26.4B mcap · 674M float · 0.586% daily turnover

Revenue

$3.6B -49.7% ▼

5Y CAGR: +8.2%

Gross Profit

$2.1B -50.4% ▼

5Y CAGR: +4.7%

Operating Income

$406M -78.7% ▼

5Y CAGR: -11.4%

Net Income

$525M -60.4% ▼

5Y CAGR: +0.2%

EPS (Diluted)

$0.16 -60.0% ▼

5Y CAGR: -2.3%

EBITDA

$754M -60.5% ▼

5Y CAGR: -0.7%

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$5.1B	$5.9B	$7.0B	$7.1B	$3.6B
YoY Growth	+112.7%	+14.8%	+20.1%	+0.5%	-49.7%
Cost of Revenue	$1.6B	$2.6B	$3.0B	$2.9B	$1.5B
Gross Profit	$3.5B	$3.2B	$4.1B	$4.1B	$2.1B
Gross Margin	68.9%	55.3%	58.0%	58.6%	57.8%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$1.3B	$1.7B	$2.1B	$2.2B	$1.6B
Operating Expenses	$2.0B	$1.6B	$2.0B	$2.2B	$1.6B
Operating Income	$1.5B	$1.6B	$2.1B	$1.9B	$406M
Operating Margin	28.7%	27.9%	30.1%	27.0%	11.4%
Interest Expense	$36M	$29M	$4M	$13M	$32M
Income Before Tax	$1.4B	$1.4B	$2.9B	$1.9B	$703M
Tax Expense	$376M	$405M	$559M	$571M	$179M
Net Income	$1.0B	$1.0B	$2.3B	$1.3B	$525M
Net Margin	20.2%	17.6%	33.1%	18.7%	14.8%
EPS (Diluted)	$0.35	$0.43	$0.75	$0.40	$0.16
EBITDA	$1.5B	$1.7B	$2.2B	$1.9B	$754M
Shares Outstanding	2.94B	2.67B	3.12B	3.31B	3.31B

Line Item	FY2022 Q4	FY2023 Q2	FY2023 Q4	FY2024 Q2	FY2024 Q4	FY2025 Q2	FY2025 Q4	FY2026 Q2
Revenue	$1.4B	$3.5B	$3.5B	$4.1B	$2.9B	$2.5B	$1.2B	$2.5B
Cost of Revenue	$630M	$1.5B	$1.5B	$1.7B	$1.2B	$1.0B	$493M	$1.2B
Gross Profit	$768M	$2.0B	$2.0B	$2.4B	$1.7B	$1.5B	$660M	$1.3B
Gross Margin	55.0%	57.9%	58.2%	58.8%	58.4%	59.0%	57.2%	53.4%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$419M	$1.0B	$1.1B	$1.5B	$1.1B	$842M	$873M	$867M
Operating Expenses	$392M	$968M	$963M	$1.3B	$932M	$677M	$703M	$867M
Operating Income	$376M	$1.1B	$1.1B	$1.1B	$782M	$798M	-$43M	$474M
Operating Margin	26.9%	30.4%	30.7%	27.2%	26.7%	31.9%	-3.7%	18.9%
Interest Expense	$0	$0	$0	$0	$0	$14M	$19M	$27M
Income Before Tax	$348M	$1.8B	$1.0B	$1.1B	$773M	$784M	-$62M	$746M
Tax Expense	$95M	$264M	$295M	$370M	$201M	$209M	-$26M	$173M
Net Income	$253M	$1.6B	$742M	$752M	$572M	$575M	-$36M	$573M
Net Margin	18.1%	45.0%	21.1%	18.2%	19.5%	23.0%	-3.1%	22.8%
EPS (Diluted)	$0.10	$0.54	$0.22	$0.24	$0.17	$0.17	$-0.01	$0.17
EBITDA	$396M	$1.2B	$1.0B	$1.3B	$677M	$944M	-$46M	$650M
Shares Outstanding	3.02B	2.96B	3.28B	3.31B	3.31B	3.31B	3.31B	3.30B

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