Forward Fashion (International) Holdings Company Limited (HKG:2528)

Hong Kong · Delayed Price · Currency is HKD

0.9050

0.00 (0.00%)

Aug 19, 2026, 3:55 PM HKT

HKG:2528 Financials Overview

Financials in millions HKD. Fiscal year is January - December.

Millions HKD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	870.18	870.18	938.32	1,008	959.9	1,228
Revenue Growth	-4.75%	-7.26%	-6.89%	4.99%	-21.85%	38.88%
Gross Profit	413.91	413.91	420.78	467.81	454.24	651.12
Operating Income	59.7	59.7	-68.7	-4.12	-8.65	63.37
Net Income	57.67	57.67	-76.89	-16.85	-33.14	32.16
Earnings Per Share	0.14	0.14	-0.19	-0.04	-0.08	0.08
EPS Growth	-	-	-	-	-	-

Revenue by Geography

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Mainland China	287.85	287.85	396.55	426.15	450.47	557.95
Macau	590.03	590.03	490.9	492.43	440.35	588.67
Hong Kong and Others	41.09	41.09	91.45	123.42	103.81	125.71
Inter-Segment	-48.79	-48.79	-40.59	-34.2	-34.72	-44.02
Total	870.18	870.18	938.32	1,008	959.9	1,228

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Investments	92.55	92.55	94.29	130.46	131.83	205.08
Total Debt	163.78	163.78	311.49	389.37	403.04	555.58
Net Cash (Debt)	-71.23	-71.23	-217.2	-258.91	-271.2	-350.5
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-0.18	-0.18	-0.54	-0.65	-0.68	-0.88

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	191.76	191.76	120.18	219.51	230.22	213.99
Capital Expenditures	-31.54	-31.54	-38.02	-57.74	-62.57	-41.23
Free Cash Flow	160.22	160.22	82.15	161.77	167.64	172.76
Free Cash Flow Growth	27.73%	95.03%	-49.22%	-3.50%	-2.96%	-50.86%

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Gross Margin	47.57%	47.57%	44.84%	46.42%	47.32%	53.01%
Operating Margin	6.86%	6.86%	-7.32%	-0.41%	-0.90%	5.16%
Pretax Margin	7.65%	7.65%	-8.62%	-1.81%	-3.59%	3.84%
Profit Margin	6.63%	6.63%	-8.20%	-1.67%	-3.45%	2.62%
FCF Margin	18.41%	18.41%	8.76%	16.05%	17.46%	14.06%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug '26 Aug 23, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	6.28	1.94	-	-	-	11.69
P/FCF Ratio	2.26	0.70	1.07	0.73	0.91	2.18
PS Ratio	0.42	0.13	0.09	0.12	0.16	0.31