Browse press releases
The newest releases come first, each with its full text here and a link to its original. Try the filters to narrow them down.
- Abercrombie & Fitch and NFL Build on Official Fashion Partnership for 2026 SeasonExpanded assortments, broader distribution through new Fanatics partnership and season-long activations bring Abercrombie to more customers and NFL fans
- Champion REIT Announces 2026 Interim Results- Resilient occupancy across property portfolio reflecting proactive leasing efforts - Three Garden Road recorded positive rental reversion in selective renewal cases - Proactive retail tenant mix refinement driving positive impact on tenants’ sales - Successfully secured credit facilities for refinancing all debt due in 2026 HONG KONG, August 19, 2026 - Champion Real Estate Investment Trust (Stock Code: 2778), which owns Three Garden Road and Langham Place properties, announced its interim results for the six months ended 30 June 2026. Summary of financial results 1H 2026 1H 2025 Change Total Rental Income (HK$ million) 949 1,029 - 7.8% Net Property Income (HK$ million) 780 859 - 9.3% Distributable Income (HK$ million) 432 476 - 9.1% Distribution per Unit (HK$) 0.0633 0.0701 - 9.7% 30 Jun 2026 31 Dec 2025 Change Gross Value of Portfolio (HK$ million) 56,432 56,179 + 0.5% Net Asset Value per Unit (HK$) 6.48 6.45 + 0.5% Gearing Ratio 25.4% 25.4% no change OPERATING REVIEW Market Overview In the first half of 2026, global macroeconomic environment was marked by geopolitical uncertainties. Sentiment in Hong Kong’s commercial real estate market showed signs of stabilisation and a selective recovery. Central office leasing sentiment improved notably, while the Hong Kong retail sales recorded solid growth, supported by sustained inbound tourism and a steady pipeline of mega events. Occupancy across the Trust’s property portfolio demonstrated resilience, reflecting proactive leasing efforts. However, negative rental reversion continued to impact the Trust. Distributable income of the Trust decreased by 9.1% to HK$432 million and distribution per unit decreased by 9.7% to HK$0.0633. On financial management, we successfully secured credit facilities for the refinancing of all debt due in 2026 and also expanded our lender pool. Three Garden Road Proactive leasing efforts resulted in high retention rate with over 90% of leases expiring in 2026 confirmed to renew, among them were the major tenants. Occupancy of the property maintained at a stable level of 82.2% as at 30 June 2026 (31 December 2025: 81.6%). Site inspections momentum remained solid in the first half with double digit year-on-year growth. We observed stabilisation of market rents for the property as Central office leasing momentum improved. Positive rental reversions were achieved in some renewal cases. Langham Place Office Tower Rental income of the property showed signs of stabilisation. Occupancy remained resilient at 86.2% as at 30 June 2026 (31 December 2025: 86.9%) amid intense competition of the broader Kowloon office market. Wellness and lifestyle operators remained a key component of Langham Place Office Tower’s tenant profile, accounting for 67% of the tenant mix as at 30 June 2026. To enhance tenant diversification, we acquired an international direct sales company and distributors in its value-chain as new occupiers. Langham Place Mall Tenants’ sales at Langham Place Mall benefitted from the better retail market sentiment. The proactive tenant mix management continued to generate positive impact. The introduction of fashion labels tailored to the mall’s customer demographics resulted in double-digit sales growth in this segment, while lifestyle segment continued to outperform. The mall continued to launch creative campaigns to reinforce its retail trend-setting position. Occupancy maintained at high level of 99.5% as at 30 June 2026 (31 December 2025: 99.3%). Distribution Distributable income of the Trust decreased by 9.1% to HK$432 million (2025: HK$476 million) and distribution per unit ("DPU") dropped by 9.7% to HK$0.0633 (2025: HK$0.0701). Asset Value The appraised value of the Trust's properties was HK$56.4 billion as at 30 June 2026, compared with HK$56.2 billion as at 31 December 2025, mainly reflecting mild increase in rental rate assumptions for Three Garden Road. Sustainability Sustainability remains integral to the Trust's long-term value creation strategy. In the first half of 2026, we made steady progress across strategic priorities. On sustainable finance, we secured a HK$3.0 billion sustainability-linked loan with the support of eight banks. Moreover, Three Garden Road achieved WiredScore Platinum recertification, reaffirming its best-in-class digital connectivity standards. Through our flagship EcoChampion Pledge tenant engagement programme, we organised capacity-building and knowledge-sharing workshops to promote more sustainable workplaces. Outlook The global macroeconomic outlook is expected to remain uncertain. Policy measures to fortify Hong Kong as an international financial centre should continue to drive demand for office in the Central business district, while the recovery in inbound tourists should benefit the retail sector. Three Garden Road remains well positioned to capture future leasing opportunities with its convenient access to both Central and Admiralty business districts. We are also advancing plans for a major asset enhancement initiative to further strengthen the property’s competitiveness. Looking ahead, we will continue to adopt a prudent capital management strategy while remaining agile in the uncertain macroeconomic environment. About Champion REIT (stock code: 2778) Champion Real Estate Investment Trust is a trust formed to own and invest in income producing office and retail properties. The Trust focuses on Grade A commercial properties in prime locations. It currently offers investors direct exposure to nearly 3 million sq. ft. of prime office and retail floor area. These include two Hong Kong landmark properties, Three Garden Road and Langham Place, as well as a joint venture stake in 66 Shoe Lane in Central London. The Trust has been awarded the top five-star rating by GRESB for three consecutive years since 2023. Champion REIT is managed by Eagle Asset Management (CP) Limited, a member of the Great Eagle Group. Website: www.championreit.com For press enquiries: Jervois Finance Kenneth Tang Tel: +852 9827 2880 Email: [email protected] Ada Lau Tel: +852 9506 6017 Email: [email protected]
- e.l.f. Cosmetics Answers Community Demand with the Return of Pickle-Inspired Glow Reviver Melting Lip BalmsOAKLAND, Calif., August 19, 2026--e.l.f. Cosmetics, a brand from e.l.f. Beauty (NYSE: ELF), is bringing back the highly demanded pickle-inspired Glow Reviver Melting Lip Balm in three limited-edition shades, starting tomorrow.
- LVMH : Déclaration des transactions sur actions propresCompanies: LVMHParis, le 18 août 2026
- LVMH: Share transactions disclosureCompanies: LVMHParis, August 18th, 2026
- My Size Inc.MySize's Naiz Fit Surpasses 500 Million Size Recommendations as AI Fashion Platform Expands Into Virtual Try-OnMySize's Retail Technology Platform has served 10M+ users and connected 100M+ garments across 100+ fashion brands, creating a foundation for broader Size & Fit Intelligence solutions — MySize, Inc. (NASDAQ: MYSZ), a global provider of...
- Tokyo Lifestyle Receives Independent Research Coverage from Broad Investment Securities; Note Highlights Asset-Light Shift and Global ExpansionNEW YORK, Aug 18, 2026 - Broad Investment Securities LLC, a U.S. SEC-registered investment adviser, has issued an independent fundamental research report on Tokyo Lifestyle Co., Ltd. (Nasdaq: TKLF), examining the Japanese consumer-products distributor’s business model, financial trajectory, channel mix and international expansion. Tokyo Lifestyle, formerly Yoshitsu Co., Ltd., operates as a retailer and wholesaler of Japanese beauty and health products, general merchandise, luxury goods, electronics and collectible cards. The company reaches end markets through four channels—company-operated stores, franchise outlets, wholesale distribution and cross-border e-commerce—across Japan, Hong Kong, Southeast Asia, North America, the UK and Australia. Its assortment spans roughly 69,800 SKUs. Supplier relationships include major Japanese brands such as Shiseido, Kao and Kose. The company also manages proprietary and licensed brands including Tokyo Lifestyle, Hare no Ryohin and REIWATAKIYA. In 2025 it began private-label product development and entered a strategic collaboration with an affiliate of Tasly Group aimed at joint research, development and global distribution of health products. As of the fiscal year ended March 31, 2026, Tokyo Lifestyle reported nine franchise partners operating 11 stores in the United States, the UK, Hong Kong, Thailand, Vietnam and Japan. Hong Kong continues to serve as the primary logistics and distribution hub linking Japanese supply chains to overseas markets. Net revenue for FY2026 rose 77.6% year-on-year to $373.2 million, the highest level since the company’s January 2022 Nasdaq listing. Revenue expanded from approximately $195.7 million in FY2024 to $210.1 million in FY2025 before accelerating to $373.2 million. The increase was driven principally by faster growth in the franchise and wholesale channels and by an expanded contribution from luxury goods, consistent with management’s stated transition from an asset-heavy company-operated model toward a lighter franchise-and-wholesale structure. Gross margin contracted from 11.4% in FY2025 to 7.5% in FY2026. Net income attributable to the company was about $0.72 million, or basic earnings per share of $0.02. The margin compression reflects the rising weighting of franchise and wholesale sales, which typically generate lower unit margins in exchange for greater scale and reduced capital intensity. The company remains in the investment phase of this strategic shift; the path to sustained profitability is still evolving. Geographic mix continued to internationalize. Japan accounted for 52.9% of FY2026 revenue, down from 70.5% a year earlier, while Hong Kong and other overseas markets rose to 47.1% from 29.5%. Total assets increased to $233.6 million from $157.8 million, of which accounts receivable stood at $186.8 million. Operating cash flow was negative during the period, primarily reflecting the working-capital build associated with expansion. At the July 29, 2026 close, the shares traded at $2.025 per ADS, implying a market capitalization of approximately $8.57 million, a trailing price-to-earnings ratio of about 11.96 and a price-to-book ratio of roughly 0.21. As a micro-cap issuer, Tokyo Lifestyle remains subject to Nasdaq continued-listing requirements as well as balance-sheet and cash-flow considerations, points the research note addresses directly. Overall, the report positions Tokyo Lifestyle as a relatively scarce Nasdaq-listed Japanese cross-border consumer-products platform with above-average top-line growth and a distinctly international revenue profile, while underscoring the operational and financial characteristics typical of a micro-cap company still executing a structural transition. For more information, please contact: Golden Fleece Cross-border Consulting Co., Limited Email: [email protected]
- CloudwaysCloudways Launches Managed AI Agents With General Availability of OpenClaw and HermesBROOMFIELD, Colo., August 17, 2026--OpenClaw and Hermes become Cloudways first AI Agents, enabling businesses to deploy some of the leading open-source AI agents in minutes
- Food Expo and concurrent fairs attract over 520,000 visits, setting all-time recordThe Food Expo, Beauty & Wellness Expo and Home Delights Expo, organised by the Hong Kong Trade Development Council (HKTDC), concluded successfully today. The two trade fairs — Food Expo PRO and Hong Kong International Tea Fair — also closed on 15 August. The five fairs brought together over 1,850 exhibitors from more than 30 countries and regions, attracting over 520,000 public visits in total - a record high. Per capita spending continued to grow, reaching HK$1,685, reflecting the continued vibrancy of the local consumer market and strong public demand for gourmet food, healthy living and quality home products. For trade exhibitions, the Food Expo PRO and Hong Kong International Tea Fair drew some 20,000 buyers from 64 countries and regions. Apart from Hong Kong, buyers came from Chinese Mainland, Macao, Taiwan, Japan, Korea, as well as ASEAN countries, including Indonesia, Cambodia, Thailand, Malaysia and the Philippines, among others, reinforcing Hong Kong's unique advantages as a food trading hub. The International Conference of the Modernization of Chinese Medicine & Health Products, organised by the Modernized Chinese Medicine International Association (MCMIA) together with the HKTDC and ten scientific research institutions, also concluded successfully on 15 August. Over 30 distinguished speakers attended to discuss innovation, research and development in Chinese medicine, and global opportunities. Smilely Lam, Associate Executive Director of the HKTDC, said: "This year's fairs received an enthusiastic response. Attendance recorded solid growth, and per capita spending reached a record high alongside visitor numbers, reflecting the strong market demand for quality food, healthy living and novel experiences. This year's five fairs, themed 'Live Well · Stay Well', gathered a diverse range of food and beverage, wellness and related lifestyle products, services and experiences from around the world, comprehensively showcasing the latest trends in the health and wellness sector, and creating more business opportunities for the industry." Ms Lam added: "We are pleased to see the fairs attracting a broader range of international participation. Exhibitors, buyers and industry representatives concluded multiple cooperation and procurement agreements, underscoring Hong Kong's position as an important trade platform connecting Chinese Mainland and international markets, as well as its role as an international food trade hub. Buyers' purchasing intentions show that market demand continues to grow for health and functional products, convenience foods, specialty foods and premium tea products. Products with sustainable development concepts and international certifications such as Halal certification are also gaining popularity, reflecting the industry's proactive response to consumers' pursuit of healthy living, quality experiences and responsible consumption, injecting growth momentum into the market.” Per capita spending reaches record high of HK$1,685; Health and wellness products in the spotlight During the fairs, the organiser conducted a random sampling survey, interviewing more than 1,430 visitors. The per capita spending continued to grow, reaching HK$1,685, with 87% of respondents indicating that their actual spending was in line with or exceeded their budget, reflecting stable consumer sentiment. The fairs also successfully aligned with the healthy living consumption trend, with over 80% of respondents expressing interest in health and wellness-related products. The product categories of greatest interest to respondents included health and functional foods (62%), health supplements and nutritional products (51%), as well as mental and physical wellness products and healthy lifestyle items (40%). Among the respondents who are aware that the fairs have a halal food and beverage label, more than half of the respondents (53%) believed that halal food and beverage label helps promote halal products, while 51% noted the silver-age products and services showcased at the fairground, reflecting the continued growth potential of these markets. Public fairs draw strong crowds; buoyant spending atmosphere Over five days, The Food Expo, The Beauty & Wellness Expo and The Home Delights Expo offered visitors a diverse range of international food, beauty and wellness products, as well as home living experiences. Five themed days were held throughout the fairs, encouraging visitors to embrace quality living through product showcases, expert sharing and interactive experiences. The fairs also featured a variety of special products and limited-time offers, attracting strong visitor traffic and generating encouraging sales results. The Food Expo's Gourmet Zone featured Hong Kong's first chewy treats themed market, featuring chewy desserts that received an enthusiastic on-site response. Henry Ling, Executive Director and General Manager (Asset Management) of Uni-China Group, said the 12 participating exhibitors expected to generate total sales of HK$1 million to HK$1.4 million during the fair. Held concurrently, the Beauty & Wellness Expo brought visitors a wide range of holistic wellness experiences, including fragrance, health and fitness demonstrations. Among the highlights was an aroma-emotion testing experience presented by Xuelei Fragrance Museum from Guangzhou, drawing a continuous stream of visitors throughout the fair. The newly launched "Stay Relax" zone showcased products designed to relieve fatigue and promote relaxation. Alan Ho, Founder and Chairman of Hong Kong wellness brand Vogue Bio, said the brand's expo-exclusive buy-one-get-one-free promotion was well received by visitors. He expected total sales during the five-day fair to exceed HK$1 million, far surpassing his expectations. The Home Delights Expo showcased a range of smart home solutions, trendy household products and sleep technology. Sleep Health Association, exhibiting for the first time, set up a "Go Sleep Exp", where many visitors came to learn about ways to improve sleep quality and related health information. Cyrus Chiu, president of the Association, said the pavilion featured a first-of-its-kind sleeping experiential project in Asia, drew strong visitor traffic through its innovative design and helped enhance public awareness and understanding of sleep health. Trade fairs expand business networks, help mainland enterprises reach new markets The HKTDC is actively assisting quality mainland food products in expanding into overseas markets. This year marks the fourth consecutive year of the Chinese Mainland premium agricultural products "Going Global" exchange and matchmaking event, which facilitates mainland enterprises in leveraging Hong Kong's international business platform to expand into overseas markets. The event was attended by Chan Kwok-ki, Chief Secretary for Administration of the Hong Kong SAR Government, who delivered a keynote address. At the matching session, the Environment and Ecology Bureau of the HKSAR Government signed Memoranda of Understanding (MoU) with representatives from Hunan, Xizang and Shandong to strengthen cooperation between Hong Kong and these three regions. The event recorded intended transactions exceeding HK$1.8 billion, setting new records in both the breadth of industry participation and total intended deal value. Peng Tingjun, Director-General of the Agricultural Trade Promotion Center of the Ministry of Agriculture and Rural Affairs of China, said that more than 100 agricultural enterprises from over 10 Chinese Mainland provinces and regions brought more than 1,000 specialty products to Hong Kong, enabling visitors to experience distinctive agricultural traditions while helping Chinese agriculture reach global markets through Hong Kong. Making its debut at the Food Expo, the Xizang Pavilion achieved encouraging results Nagqu State-owned Capital Investment and Operation and Xizang Baqing Qizhen Industry successfully signed a MoU with a Hong Kong importer, with an estimated annual cooperation value exceeding RMB100 million, aiming to further expand the market for Xizang Naqu cordyceps. Another Chinese Mainland exhibitor, Henan Yunong Youpin Operation Management, following its participation in the Central Asia business delegation led by the Chief Executive in June this year, successfully connected with agricultural research and national investment bodies in Kazakhstan and plans to establish an agricultural industrial park there. Making its debut at the Food Expo this time, Fan Na, Chairperson of the company, stated that the company successfully connect with two wholesalers through the expo, with a target cooperation scale of RMB 10 million. This year, the Korea Pavilion expanded its size by 40%, gathering over 130 exhibitors and become the largest overseas pavilion. During the Food Expo PRO, the HKTDC signed a MoU with the Korea Agro-fisheries & Food Trade Corporation. Kim Kwangseok, Branch Director of the Korea Agro-Fisheries & Food Trade Corporation’s office in Hong Kong, said: “Hong Kong has long been a strategically important market for Korean agri-food products. It is not only our sixth largest export market, but also a crucial springboard for entering the Greater Bay Area and the Chinese Mainland markets. Beyond Hong Kong and the Chinese Mainland, the expo also helps Korean enterprises connect with importers and distributors from Singapore and other Asian markets, making it an important platform for international expansion.” The Food Expo PRO and the Food Expo featured the halal food and beverage label for the third consecutive year. This year, over 130 food suppliers showcased halal food from around the world. Tai Po Chun Hing, a local heritage brand with nearly 60 years of history, has been a regular participant at the Food Expo and joined the Food Expo PRO for the first time this year. At the newly introduced "Meat Zone”, it presented halal-certified beef tendon balls made in Hong Kong. Pius Chan, Executive Director of the company, said “On the first day of the expo, we met over 20 buyers from the Philippines, Thailand, and the Middle East, and expect orders worth between HK$500,000 and HK$1 million. We are also showcasing carbon-neutral beef balls that meet carbon footprint standards, demonstrating our commitment to ESG." SBY Frozen Food Supply, a Singapore-based halal meat manufacturer and distributor with a history of nearly 80 years, also identified Brazilian suppliers of raw beef and chicken products during the Expo. Abdul Halim Hafizuddin, Business Development Manager of the company, estimated the company's annual procurement value could reach between US$3 million and US$5 million. The spotlighted “Food Science and Technology Zone” featured innovative food technologies, including pet food solutions that attracted strong buyer interest. Felix Cheung, Founder and CEO of IXON Food Technology, said: "We received enquiries from more than 200 buyers on the first day of the expo, including buyers from Korea, Kazakhstan, Timor-Leste, Europe and Arab markets. Based on current discussions, the potential business value is estimated at between US$500,000 and US$1.3 million." The Coffee Zone at Food Expo PRO highlighted the growing potential of the coffee market, showcasing coffee products from different origins, accessories and coffee machines. First-time exhibitor Hawaii Coffee Association promote Hawaiian coffee and other specialty products at the expo. Ralph Gaston, Board Member and Secretary of the Association, said they had connected with more than 100 buyers during the expo and expect to conclude business within the next two to three months. A seminar titled " Brewing ASEAN Connections: Coffee Origins, Market Trends and Business Opportunities" was also held. Prof. Simon Wong, Chairman of the Belt and Road International Coffee Alliance, stated at the seminar that the Alliance will connect around 150 Belt and Road markets, further consolidating Hong Kong's role as an international coffee trading hub. Combined with Hong Kong's unique advantage as a "super-connector," the city is well-positioned to become a two-way gateway for the coffee industry. Held concurrently, the Hong Kong International Tea Fair introduced the new "Tea Lifestyle" zone, featuring a variety of innovative tea beverages, tea-inspired products and interactive experiences. Among the exhibitors was local tea brand BASAO, which made its debut at the fair and launched its new mellow black oolong. Katherine Yu, Director of Operations of BASAO, said they conducted around 30 business meetings with buyers mainly from Thailand, Japan and Egypt during the fair. In addition to overseas buyers, the brand is also connected with local enterprises including Cathay Pacific and Yung Kee, as well as potential partners from the digital marketing, content creation and new retail sectors, opening up new cross-industry collaboration opportunities. The Tea Fair also featured the new Chinese Mainland Matcha Pavilion. Chen Haiyan, Manager of the Industry Development Department of Hangzhou Jingshan Tea Development, said the pavilion connected with buyers from Hong Kong, Japan, Southeast Asia, India, Europe, and the United States during the fair. Among them, a Thai company expressed interest in purchasing around 20 tonnes of matcha powder, while buyers from India and Hong Kong indicated interest in procuring 10 and 100 smart matcha machines respectively. The Kenya Pavilion also reported encouraging results. This year, the Tea Board of Kenya led nine companies to exhibit at the fair. David Muriuki, Deputy Director of Trade Advisory of the Board, said the potential business deals made across the companies reached more than US$10 million, with one exhibitor alone connecting with more than 80 prospective business partners. During the fair, the Board also signed a MOU with HKTDC to strengthen market connections and trade promotion cooperation. Hybrid model connects local and overseas business opportunities This year, both the Food Expo PRO and Hong Kong International Tea Fair continued to adopt the hybrid exhibition model "EXHIBITION+" to allow global food and tea buyers to conduct business through both physical exhibitions and online platforms simultaneously. Until 22 August, exhibitors and buyers can still conduct online negotiations through the "Click2Match" intelligent matching platform to explore business opportunities. Chinese medicine international exchange promotes industry development The International Conference of the Modernization of Chinese Medicine & Health Products, funded by the HKSAR Government's Chinese Medicine Development Fund, was themed "Clinical Translation, Regulatory Policies and Global Innovative Pathways of Traditional Medicine". It invited over 30 experts, scholars and industry leaders from 11 countries and regions to jointly discuss international regulations for Chinese medicine and the latest market development trends, promoting international exchange and cooperation in Chinese medicine. This year, the organiser featured interactive games and displays at a “Multi-Facet of Chinese Medicines” public education display at the Food Expo, as well as a "Chinese Medicine Health Public Forum", to promote the advantages of Chinese medicine services and wellness culture, enhancing public awareness and understanding of Chinese medicine. Photo download: https://bit.ly/3UDevP9 Organised by the Hong Kong Trade Development Council (HKTDC), the Food Expo, Home Delights Expo and Beauty & Wellness Expo (three public exhibitions), together with the Food Expo PRO and the Hong Kong International Tea Fair (two trade exhibitions), concluded successfully.The fairs attracted over 520,000 visits, setting a new all-time record. The Fish Marketing Organization and the Vegetable Marketing Organization expanded their exhibition space at this year's Food Expo to promote their new unified brand "Hong Kong Harvest", showcasing to the public the unique appeal of local fisheries and agricultural produce. The Food Expo's Gourmet Zone introduced a new “Dessert and Gelato” theme, featuring Hong Kong's first chewy treats themed market, which was highly popular among visitors. The Chinese Mainland premium agricultural products "Going Global" exchange and matchmaking event was held on 14 August, attracting more than 200 participants, including representatives of the Chinese mainland exhibitors, as well as Hong Kong buyers and distribution channel operators. During the Food Expo PRO, the HKTDC signed a MoU with Korea Agro-fisheries & Food Trade Corporation. Halal food continued to attract market attention, with related products becoming one of the highlights of the exhibitions. The seminar titled "Brewing ASEAN Connections: Coffee Origins, Market Trends and Business Opportunities" invited industry representatives from Laos, Thailand and Vietnam to analyse the development trends of the ASEAN coffee market, opportunities in specialty coffee and the potential for regional cooperation, while exploring business opportunities in the Belt and Road markets. Hong Kong International Tea Fair introduced a new "Tea Lifestyle" zone, showcasing innovative tea beverages and tea culture lifestyle experiences. Beauty & Wellness Expo marked its 10th edition this year, offering holistic health experiences for the mind, body and soul. Mannings provided a health experience zone with a series of free health screenings and professional consultations. Home Delights Expo featured a "Go Sleep Exp" that promoted the importance of quality sleep through interactive displays and professional sharing sessions. Throughout the exhibitions, a series of highly popular and exciting events were held, including "Star Chef Cooking Demonstrations”, "Smart Bidding", and lucky draws. International Conference of the Modernization of Chinese Medicine & Health Products, themed "Clinical Translation, Regulatory Policies and Global Innovative Pathways of Traditional Medicine", invited over 30 experts, scholars and industry leaders from 11 countries and regions to jointly discuss international regulations for Chinese medicine and the latest market development trends. The Food Expo featured a special “Multi-Facet of Chinese Medicines” public education display to promote the advantages of Chinese medicine services and wellness culture, enhancing public awareness and understanding of Chinese medicine. To learn more about the opinions of exhibitors and buyers, please visit: HKTDC Food Expo PRO foodexpopro.hktdc.com Hong Kong International Tea Fair hkteafair.hktdc.com HKTDC Food Expo hkfoodexpo.hktdc.com HKTDC Beauty & Wellness Expo hkbeautyexpo.hktdc.com HKTDC Home Delights Expo homedelights.hktdc.com The International Conference of the Modernization of Chinese Medicine and Health Products (ICMCM) icmcm.hktdc.com August Happy Buy website ecoupon.hktdc.com/food/ HKTDC’s Communications and Public Affairs Department Katy Wong Tel: (852) 2584 4524 Email: [email protected] Winnie Kan Tel: (852) 2584 4055 Email: [email protected] Clayton Lauw Tel: (852) 2584 4472 Email: [email protected] Media Room: http://mediaroom.hktdc.com About HKTDC The Hong Kong Trade Development Council (HKTDC) celebrates its 60th anniversary this year. The HKTDC is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With over 50 offices globally, including 13 in the Chinese Mainland, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus.
- Food Expo and concurrent fairs attract over 520,000 visits, setting all-time record Strong demand for health and wellness solutionsThe Food Expo, Beauty & Wellness Expo and Home Delights Expo, organised by the Hong Kong Trade Development Council (HKTDC), concluded successfully today. The two trade fairs — Food Expo PRO and Hong Kong International Tea Fair — also closed on 15 August. The five fairs brought together over 1,850 exhibitors from more than 30 countries and regions, attracting over 520,000 public visits in total - a record high. Per capita spending continued to grow, reaching HK$1,685, reflecting the continued vibrancy of the local consumer market and strong public demand for gourmet food, healthy living and quality home products. For trade exhibitions, the Food Expo PRO and Hong Kong International Tea Fair drew some 20,000 buyers from 64 countries and regions. Apart from Hong Kong, buyers came from Chinese Mainland, Macao, Taiwan, Japan, Korea, as well as ASEAN countries, including Indonesia, Cambodia, Thailand, Malaysia and the Philippines, among others, reinforcing Hong Kong's unique advantages as a food trading hub. The International Conference of the Modernization of Chinese Medicine & Health Products, organised by the Modernized Chinese Medicine International Association (MCMIA) together with the HKTDC and ten scientific research institutions, also concluded successfully on 15 August. Over 30 distinguished speakers attended to discuss innovation, research and development in Chinese medicine, and global opportunities. Smilely Lam, Associate Executive Director of the HKTDC, said: "This year's fairs received an enthusiastic response. Attendance recorded solid growth, and per capita spending reached a record high alongside visitor numbers, reflecting the strong market demand for quality food, healthy living and novel experiences. This year's five fairs, themed 'Live Well · Stay Well', gathered a diverse range of food and beverage, wellness and related lifestyle products, services and experiences from around the world, comprehensively showcasing the latest trends in the health and wellness sector, and creating more business opportunities for the industry." Ms Lam added: "We are pleased to see the fairs attracting a broader range of international participation. Exhibitors, buyers and industry representatives concluded multiple cooperation and procurement agreements, underscoring Hong Kong's position as an important trade platform connecting Chinese Mainland and international markets, as well as its role as an international food trade hub. Buyers' purchasing intentions show that market demand continues to grow for health and functional products, convenience foods, specialty foods and premium tea products. Products with sustainable development concepts and international certifications such as Halal certification are also gaining popularity, reflecting the industry's proactive response to consumers' pursuit of healthy living, quality experiences and responsible consumption, injecting growth momentum into the market.” Per capita spending reaches record high of HK$1,685; Health and wellness products in the spotlight During the fairs, the organiser conducted a random sampling survey, interviewing more than 1,430 visitors. The per capita spending continued to grow, reaching HK$1,685, with 87% of respondents indicating that their actual spending was in line with or exceeded their budget, reflecting stable consumer sentiment. The fairs also successfully aligned with the healthy living consumption trend, with over 80% of respondents expressing interest in health and wellness-related products. The product categories of greatest interest to respondents included health and functional foods (62%), health supplements and nutritional products (51%), as well as mental and physical wellness products and healthy lifestyle items (40%). Among the respondents who are aware that the fairs have a halal food and beverage label, more than half of the respondents (53%) believed that halal food and beverage label helps promote halal products, while 51% noted the silver-age products and services showcased at the fairground, reflecting the continued growth potential of these markets. Public fairs draw strong crowds; buoyant spending atmosphere Over five days, The Food Expo, The Beauty & Wellness Expo and The Home Delights Expo offered visitors a diverse range of international food, beauty and wellness products, as well as home living experiences. Five themed days were held throughout the fairs, encouraging visitors to embrace quality living through product showcases, expert sharing and interactive experiences. The fairs also featured a variety of special products and limited-time offers, attracting strong visitor traffic and generating encouraging sales results. The Food Expo's Gourmet Zone featured Hong Kong's first chewy treats themed market, featuring chewy desserts that received an enthusiastic on-site response. Henry Ling, Executive Director and General Manager (Asset Management) of Uni-China Group, said the 12 participating exhibitors expected to generate total sales of HK$1 million to HK$1.4 million during the fair. Held concurrently, the Beauty & Wellness Expo brought visitors a wide range of holistic wellness experiences, including fragrance, health and fitness demonstrations. Among the highlights was an aroma-emotion testing experience presented by Xuelei Fragrance Museum from Guangzhou, drawing a continuous stream of visitors throughout the fair. The newly launched "Stay Relax" zone showcased products designed to relieve fatigue and promote relaxation. Alan Ho, Founder and Chairman of Hong Kong wellness brand Vogue Bio, said the brand's expo-exclusive buy-one-get-one-free promotion was well received by visitors. He expected total sales during the five-day fair to exceed HK$1 million, far surpassing his expectations. The Home Delights Expo showcased a range of smart home solutions, trendy household products and sleep technology. Sleep Health Association, exhibiting for the first time, set up a "Go Sleep Exp", where many visitors came to learn about ways to improve sleep quality and related health information. Cyrus Chiu, president of the Association, said the pavilion featured a first-of-its-kind sleeping experiential project in Asia, drew strong visitor traffic through its innovative design and helped enhance public awareness and understanding of sleep health. Trade fairs expand business networks, help mainland enterprises reach new markets The HKTDC is actively assisting quality mainland food products in expanding into overseas markets. This year marks the fourth consecutive year of the Chinese Mainland premium agricultural products "Going Global" exchange and matchmaking event, which facilitates mainland enterprises in leveraging Hong Kong's international business platform to expand into overseas markets. The event was attended by Chan Kwok-ki, Chief Secretary for Administration of the Hong Kong SAR Government, who delivered a keynote address. At the matching session, the Environment and Ecology Bureau of the HKSAR Government signed Memoranda of Understanding (MoU) with representatives from Hunan, Xizang and Shandong to strengthen cooperation between Hong Kong and these three regions. The event recorded intended transactions exceeding HK$1.8 billion, setting new records in both the breadth of industry participation and total intended deal value. Peng Tingjun, Director-General of the Agricultural Trade Promotion Center of the Ministry of Agriculture and Rural Affairs of China, said that more than 100 agricultural enterprises from over 10 Chinese Mainland provinces and regions brought more than 1,000 specialty products to Hong Kong, enabling visitors to experience distinctive agricultural traditions while helping Chinese agriculture reach global markets through Hong Kong. Making its debut at the Food Expo, the Xizang Pavilion achieved encouraging results Nagqu State-owned Capital Investment and Operation and Xizang Baqing Qizhen Industry successfully signed a MoU with a Hong Kong importer, with an estimated annual cooperation value exceeding RMB100 million, aiming to further expand the market for Xizang Naqu cordyceps. Another Chinese Mainland exhibitor, Henan Yunong Youpin Operation Management, following its participation in the Central Asia business delegation led by the Chief Executive in June this year, successfully connected with agricultural research and national investment bodies in Kazakhstan and plans to establish an agricultural industrial park there. Making its debut at the Food Expo this time, Fan Na, Chairperson of the company, stated that the company successfully connect with two wholesalers through the expo, with a target cooperation scale of RMB 10 million. This year, the Korea Pavilion expanded its size by 40%, gathering over 130 exhibitors and become the largest overseas pavilion. During the Food Expo PRO, the HKTDC signed a MoU with the Korea Agro-fisheries & Food Trade Corporation. Kim Kwangseok, Branch Director of the Korea Agro-Fisheries & Food Trade Corporation’s office in Hong Kong, said: “Hong Kong has long been a strategically important market for Korean agri-food products. It is not only our sixth largest export market, but also a crucial springboard for entering the Greater Bay Area and the Chinese Mainland markets. Beyond Hong Kong and the Chinese Mainland, the expo also helps Korean enterprises connect with importers and distributors from Singapore and other Asian markets, making it an important platform for international expansion.” The Food Expo PRO and the Food Expo featured the halal food and beverage label for the third consecutive year. This year, over 130 food suppliers showcased halal food from around the world. Tai Po Chun Hing, a local heritage brand with nearly 60 years of history, has been a regular participant at the Food Expo and joined the Food Expo PRO for the first time this year. At the newly introduced "Meat Zone”, it presented halal-certified beef tendon balls made in Hong Kong. Pius Chan, Executive Director of the company, said “On the first day of the expo, we met over 20 buyers from the Philippines, Thailand, and the Middle East, and expect orders worth between HK$500,000 and HK$1 million. We are also showcasing carbon-neutral beef balls that meet carbon footprint standards, demonstrating our commitment to ESG." SBY Frozen Food Supply, a Singapore-based halal meat manufacturer and distributor with a history of nearly 80 years, also identified Brazilian suppliers of raw beef and chicken products during the Expo. Abdul Halim Hafizuddin, Business Development Manager of the company, estimated the company's annual procurement value could reach between US$3 million and US$5 million. The spotlighted “Food Science and Technology Zone” featured innovative food technologies, including pet food solutions that attracted strong buyer interest. Felix Cheung, Founder and CEO of IXON Food Technology, said: "We received enquiries from more than 200 buyers on the first day of the expo, including buyers from Korea, Kazakhstan, Timor-Leste, Europe and Arab markets. Based on current discussions, the potential business value is estimated at between US$500,000 and US$1.3 million." The Coffee Zone at Food Expo PRO highlighted the growing potential of the coffee market, showcasing coffee products from different origins, accessories and coffee machines. First-time exhibitor Hawaii Coffee Association promote Hawaiian coffee and other specialty products at the expo. Ralph Gaston, Board Member and Secretary of the Association, said they had connected with more than 100 buyers during the expo and expect to conclude business within the next two to three months. A seminar titled " Brewing ASEAN Connections: Coffee Origins, Market Trends and Business Opportunities" was also held. Prof. Simon Wong, Chairman of the Belt and Road International Coffee Alliance, stated at the seminar that the Alliance will connect around 150 Belt and Road markets, further consolidating Hong Kong's role as an international coffee trading hub. Combined with Hong Kong's unique advantage as a "super-connector," the city is well-positioned to become a two-way gateway for the coffee industry. Held concurrently, the Hong Kong International Tea Fair introduced the new "Tea Lifestyle" zone, featuring a variety of innovative tea beverages, tea-inspired products and interactive experiences. Among the exhibitors was local tea brand BASAO, which made its debut at the fair and launched its new mellow black oolong. Katherine Yu, Director of Operations of BASAO, said they conducted around 30 business meetings with buyers mainly from Thailand, Japan and Egypt during the fair. In addition to overseas buyers, the brand is also connected with local enterprises including Cathay Pacific and Yung Kee, as well as potential partners from the digital marketing, content creation and new retail sectors, opening up new cross-industry collaboration opportunities. The Tea Fair also featured the new Chinese Mainland Matcha Pavilion. Chen Haiyan, Manager of the Industry Development Department of Hangzhou Jingshan Tea Development, said the pavilion connected with buyers from Hong Kong, Japan, Southeast Asia, India, Europe, and the United States during the fair. Among them, a Thai company expressed interest in purchasing around 20 tonnes of matcha powder, while buyers from India and Hong Kong indicated interest in procuring 10 and 100 smart matcha machines respectively. The Kenya Pavilion also reported encouraging results. This year, the Tea Board of Kenya led nine companies to exhibit at the fair. David Muriuki, Deputy Director of Trade Advisory of the Board, said the potential business deals made across the companies reached more than US$10 million, with one exhibitor alone connecting with more than 80 prospective business partners. During the fair, the Board also signed a MOU with HKTDC to strengthen market connections and trade promotion cooperation. Hybrid model connects local and overseas business opportunities This year, both the Food Expo PRO and Hong Kong International Tea Fair continued to adopt the hybrid exhibition model "EXHIBITION+" to allow global food and tea buyers to conduct business through both physical exhibitions and online platforms simultaneously. Until 22 August, exhibitors and buyers can still conduct online negotiations through the "Click2Match" intelligent matching platform to explore business opportunities. Chinese medicine international exchange promotes industry development The International Conference of the Modernization of Chinese Medicine & Health Products, funded by the HKSAR Government's Chinese Medicine Development Fund, was themed "Clinical Translation, Regulatory Policies and Global Innovative Pathways of Traditional Medicine". It invited over 30 experts, scholars and industry leaders from 11 countries and regions to jointly discuss international regulations for Chinese medicine and the latest market development trends, promoting international exchange and cooperation in Chinese medicine. This year, the organiser featured interactive games and displays at a “Multi-Facet of Chinese Medicines” public education display at the Food Expo, as well as a "Chinese Medicine Health Public Forum", to promote the advantages of Chinese medicine services and wellness culture, enhancing public awareness and understanding of Chinese medicine. Photo download: https://bit.ly/3UDevP9 Organised by the Hong Kong Trade Development Council (HKTDC), the Food Expo, Home Delights Expo and Beauty & Wellness Expo (three public exhibitions), together with the Food Expo PRO and the Hong Kong International Tea Fair (two trade exhibitions), concluded successfully.The fairs attracted over 520,000 visits, setting a new all-time record. The Fish Marketing Organization and the Vegetable Marketing Organization expanded their exhibition space at this year's Food Expo to promote their new unified brand "Hong Kong Harvest", showcasing to the public the unique appeal of local fisheries and agricultural produce. The Food Expo's Gourmet Zone introduced a new “Dessert and Gelato” theme, featuring Hong Kong's first chewy treats themed market, which was highly popular among visitors. The Chinese Mainland premium agricultural products "Going Global" exchange and matchmaking event was held on 14 August, attracting more than 200 participants, including representatives of the Chinese mainland exhibitors, as well as Hong Kong buyers and distribution channel operators. During the Food Expo PRO, the HKTDC signed a MoU with Korea Agro-fisheries & Food Trade Corporation. Halal food continued to attract market attention, with related products becoming one of the highlights of the exhibitions. The seminar titled "Brewing ASEAN Connections: Coffee Origins, Market Trends and Business Opportunities" invited industry representatives from Laos, Thailand and Vietnam to analyse the development trends of the ASEAN coffee market, opportunities in specialty coffee and the potential for regional cooperation, while exploring business opportunities in the Belt and Road markets. Hong Kong International Tea Fair introduced a new "Tea Lifestyle" zone, showcasing innovative tea beverages and tea culture lifestyle experiences. Beauty & Wellness Expo marked its 10th edition this year, offering holistic health experiences for the mind, body and soul. Mannings provided a health experience zone with a series of free health screenings and professional consultations. Home Delights Expo featured a "Go Sleep Exp" that promoted the importance of quality sleep through interactive displays and professional sharing sessions. Throughout the exhibitions, a series of highly popular and exciting events were held, including "Star Chef Cooking Demonstrations”, "Smart Bidding", and lucky draws. International Conference of the Modernization of Chinese Medicine & Health Products, themed "Clinical Translation, Regulatory Policies and Global Innovative Pathways of Traditional Medicine", invited over 30 experts, scholars and industry leaders from 11 countries and regions to jointly discuss international regulations for Chinese medicine and the latest market development trends. The Food Expo featured a special “Multi-Facet of Chinese Medicines” public education display to promote the advantages of Chinese medicine services and wellness culture, enhancing public awareness and understanding of Chinese medicine. To learn more about the opinions of exhibitors and buyers, please visit: HKTDC Food Expo PRO foodexpopro.hktdc.com Hong Kong International Tea Fair hkteafair.hktdc.com HKTDC Food Expo hkfoodexpo.hktdc.com HKTDC Beauty & Wellness Expo hkbeautyexpo.hktdc.com HKTDC Home Delights Expo homedelights.hktdc.com The International Conference of the Modernization of Chinese Medicine and Health Products (ICMCM) icmcm.hktdc.com August Happy Buy website ecoupon.hktdc.com/food/ HKTDC’s Communications and Public Affairs Department Katy Wong Tel: (852) 2584 4524 Email: [email protected] Winnie Kan Tel: (852) 2584 4055 Email: [email protected] Clayton Lauw Tel: (852) 2584 4472 Email: [email protected] Media Room: http://mediaroom.hktdc.com About HKTDC The Hong Kong Trade Development Council (HKTDC) celebrates its 60th anniversary this year. The HKTDC is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With over 50 offices globally, including 13 in the Chinese Mainland, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus.
- China Lilang Announces 2026 Interim ResultsChina Lilang Limited (“China Lilang” or the “Company”, together with its subsidiaries, the “Group”; stock code: 1234) today announced its interim results for the six months ended 30 June 2026. Mr. Wang Dong Xing, Chairman and Non-Executive Director of China Lilang, said: “In the first half of 2026, global geopolitical tensions remained high, while China’s economy maintained a stable growth momentum, and consumers have become more rational in their purchasing decisions. During the period, China Lilang adjusted its sales strategies in a timely manner to optimize sales performance while upholding its brand positioning and product quality. The Group remained focused on enhancing the competitiveness of both the core collection “LILANZ” and smart casual collection “LESS IS MORE”, improving operational efficiency and expanding market share. At the same time, the Group strategically increased the supply of value-for-money products to cater to the needs of a broader range of consumers. In addition, the Group continued to optimize its omni-channel sales and marketing network, actively promoting the integration of online and offline operations while advancing its Multi-brands and Internationalization strategies, further consolidating its leading position in the menswear industry. For the six months ended 30 June 2026, the Group’s revenue increased by 19.5% to RMB2,064.7 million. Among this, revenue of the smart casual collection and other collections surged 34.7%, mainly driven by strong momentum in its in-store sales and new retail business. The core collection also recorded an increase of 12.7%, primarily driven by the later Lunar New Year, which extended the peak sales season, as well as the rapid expansion of new retail channels and an increased supply of value-for-money offerings, effectively meeting market demand. Gross profit margin decreased by 1.3 percentage points year-on-year to 48.9%, primarily due to an increase in sales of value-for-money products and a higher proportion of sales of products from large-scale year-end promotional activities, which led to a decrease in average unit price. Profit attributable to equity shareholders for the period was RMB215.4 million (2025 Interim: RMB242.5 million). Profit margin attributable to equity shareholders decreased by 3.6 percentage points year-on-year to 10.4%. Earnings per share were RMB18.0 cents. The Board of Directors has recommended payment of an interim dividend of HK10 cents (2025 Interim: HK11 cents) per ordinary share and a special interim dividend of HK4 cents (2025 Interim: HK5 cents), thereby maintaining a relatively high payout ratio. The Group continued to deepen its well-differentiated brand matrix, driven by the dual core collections: the core collection “LILANZ” and the smart casual collection “LILANZ LESS IS MORE”. The “LILANZ” core collection continued to consolidate its position in the traditional menswear market. Through optimizing its product portfolio and continuing its strategic transformation towards the Direct-to-Consumer (“DTC”) model, and repurchasing the operating rights from its first-tier distributors in Hubei Province during the period, the Group strengthened the brand’s influence and penetration among its core customer base, as well as enhanced operational efficiency and market responsiveness. The "LESS IS MORE" smart casual collection that targets younger consumers continued to operate in a fully direct-to-retail model, with its store opening strategy focused on launching outlets at shopping malls preferred by consumers. Coupled with the seamless integration of online and offline channels, the brand was able to engage consumers more precisely and effectively enhance the consumer experience. As at 30 June 2026, there were 2,465 stores for the core collection and 355 stores for the smart casual collection, bringing the Group’s total store count to 2,820, representing a net increase of 3 stores. During the period, new retail channels were one of the Group’s core growth engines, with sales increasing by 39.0% year on year. The Group continues to strengthen mature sales platforms such as Tmall, JD.com, and TikTok, and actively expands into emerging channels such as Pinduoduo, WeChat Channels, Poizon, Xiaohongshu and Weibo, further broadening its online sales coverage, deepening emotional connections with consumers, and opening new growth opportunities for the new retail business. The Group steadily implemented its “Multi-brands and Internationalization” core strategy during the period. In Chinese Mainland, the Group continued to expand the physical store network of “MUNSINGWEAR”, adding 3 new stores during the first half of the year and successfully opening a flagship store at Nanjing Deji Plaza. At the same time, the Group further expanded its online sales channels to achieve synergistic integration between online and offline operations, thereby enhancing brand awareness and market penetration among its target customers, while strengthening its presence in the high-end market segment. In terms of overseas expansion, the Group continued to systematically expand its store network in the Malaysian market, opening 5 stores during the period, and completed the company registration process in the Philippines. The Group has also commenced the company registration process in Vietnam as part of its preparations for entering the local market. During the period, the Group adheres to the design philosophy of “Simplicity but Not Simple” and continuously deepens its proprietary research and development across its industrial chain, focusing on fabric innovation, craftsmanship upgrades and standard setting to strengthen its competitive advantage of “Technology-Empowered Products”, and transform its technological expertise into industry-wide reference standards. Looking ahead to the second half of 2026, the Group will continue to implement its channel upgrade and high-quality development strategy, focusing on enhancing the operating efficiency and profitability of store network. With Hubei Province having completed its DTC model transformation, the Group will focus on consolidating and developing the operation of the transformed regions and fully leveraging the advantages in management efficiency and market responsiveness brought about by the channel reform. In the future, the Group will prudently evaluate the development of the model and continuously improve the sales network layout, based on the market environment and operating performance in various regions. The Group will continue to focus on potential locations such as high-quality shopping malls and outlets to promote store image upgrades and enhance store efficiency. In terms of new retail business, the Group will pursue integrated online and offline development, fully leverage its omni-channel advantages to enhance customer engagement and shopping experience. The Group aims to achieve revenue growth of 20% or more for its new retail business in 2026, and overall retail value growth of not less than 10%, further reinforcing its position as a core growth engine of the Group. The Group will continue to enrich the product portfolio of “MUNSINGWEAR” and expand its retail network layout, thereby enhancing brand influence and market coverage. Regarding international expansion, the Group will gradually expand its local retail network in Malaysia, strengthen its brand-building efforts, and actively accumulate operational experience in overseas markets, thereby laying a more solid foundation for its long-term development. Mr. Wang Dong Xing, Chairman of China Lilang, concluded: “Looking ahead to the second half of the year, the Chinese economy still faces the imbalance of ‘strong supply and weak demand’, which will continue to affect consumer confidence in the short term and pose challenges to the recovery of the consumer market. Amid a complex and ever-changing operating environment, China Lilang will continue to leverage its solid brand foundation and market leadership advantages, adhere to its prudent operating strategy, and further enhance its competitiveness in products, channels and operations. By capturing opportunities arising from industry developments, the Group remains committed to delivering sustainable returns to shareholders.” About China Lilang China Lilang is one of the leading PRC menswear enterprises. As an integrated fashion enterprise, the Group designs, sources and manufactures high-quality business and casual apparel for men and sells under brands of LILANZ and LESS IS MORE. Its products are sold primarily through an extensive retail and distribution network in the PRC and overseas markets. For further inquiries, please contact: Keris Leung / Mel Lai Tel: (852) 2864 4863 / 2864 4855 Email: [email protected]
- Analysts See SHEIN at US$35-40bn Ahead of IPO, Citing Global Fashion Scale and Strong FinancialsCompanies: SheinIn recent years, the digital economy has deeply penetrated global consumer markets. The online fashion industry, with its unique advantages of lightweight operations, high iteration speed, and global reach, has entered a golden period of rapid growth, unlocking substantial development space and opportunities for related sectors. In this context, enterprises equipped with digital core capabilities, global expansion advantages, and distinctive supply chain systems are gradually securing a competitive edge in industry development. As a leading enterprise in the global online fashion industry, SHEIN accurately captures the trends of digital consumption. Relying on its original business model, intelligent supply chain system, and global operational capabilities, it continues to break through industry bottlenecks, drives the transformation and upgrading of the global fast fashion sector, and sets a benchmark for Chinese enterprises expanding overseas. Benchmarking Against Fashion Enterprises Inditex and H&M: Forging a Distinctive LATR Operational Model Founded in 2012, SHEIN is a global online fashion and lifestyle enterprise. The Company has consistently pursued a global footprint, benchmarking itself against leading international fashion conglomerates including Inditex and H&M, setting it apart from conventional region-focused Chinese brands. The Company now owns an array of globally renowned fashion brands, with its business footprint spanning roughly 160 markets worldwide. It has cultivated diversified revenue streams to effectively mitigate risks stemming from over reliance on a single market, forged a robust and sophisticated global commercial ecosystem, and secured a prominent position within the core global fast fashion sector. The distinctive LATR operational model is the core moat that propels SHEIN to the forefront of the industry. In contrast to peers such as Inditex and H&M, whose models tend to converge and lack meaningful differentiation, SHEIN’s proprietary operational system has significantly optimized the operational value chain of the fashion industry, cultivating a distinctive and defensible competitive advantage. In terms of business model innovation, SHEIN has achieved a disruptive breakthrough by pioneering its proprietary operational model, the Large-scale Automated Test Reorder (LATR) system. This model represents the optimal solution to the long-standing trilemma confronting the fashion apparel industry, and has fundamentally revolutionized the traditional operational logic governing apparel production, sales, and iteration. Supported by the Company’s end-to-end smart supply chain and responsive global fulfillment infrastructure, the LATR system facilitates the optimal equilibrium across product assortment diversity, speed-to-market in design, and inventory control. Consequently, it addresses the persistent trilemma that has long beset the industry, and serves as a catalyst for the global fast-fashion sector’s transition from a conventional extensive-growth model to a refined, digitally-enabled, and sustainable development trajectory. The impressive growth figures underscore SHEIN’s robust momentum. From 2023 to 2025, the Company’s active customers increased from 186 million to 273 million, representing a compound annual growth rate (CAGR) of 21.2%, significantly outpacing traditional international industry giants. In terms of operational efficiency and value creation, SHEIN’s advantages are particularly distinctive. Its operational efficiency substantially surpasses that of its peers, with inventory turnover days of only 36 days, markedly better than the industry benchmarks of 71 days for Inditex, 114 days for Fast Retailing, and 164 days for Adidas. Meanwhile, underpinned by a rigorous cost-control and highly pragmatic corporate culture, the Company has consistently pursued cost reduction and efficiency enhancement initiatives, continuously optimizing its cash flow. Furthermore, SHEIN demonstrates strong cash generation capabilities and has made a solemn commitment to maintain a dividend payout ratio of no less than 50% following its listing, thereby delivering stable returns to investors. Sound Financial Fundamentals and Valuation on Par with Global Fashion Giants Driven by its proven business model, continuously iterating technological capabilities, and global channel footprint, SHEIN has recorded sustained and solid growth in operating performance, alongside steadily improving profitability. According to the Prospectus, SHEIN generated net revenue of US$41.8 billion in 2025, representing a CAGR of 14.2% from 2023 to 2025, with steady revenue expansion and sustained growth momentum. During the same period, the Company achieved a net profit of US$2.064 billion, reflecting excellent earnings quality and underscoring its exceptional operational resilience and growth vitality. In the first quarter of 2026, the Company sustained its steady growth trajectory, generating net revenue of US$9.1 billion for the period, representing a year-over-year increase of 1.1%. Against the backdrop of global consumer market volatility and intensifying industry competition, it maintained positive growth, demonstrating solid commercialization and monetization capabilities as well as robust resilience to risks. Against the industry benchmark of 25x price to earnings ratio (P/E ratio) for Inditex in FY2027 and 20x P/E ratio for H&M in FY2027, SHEIN, underpinned by its differentiated business model, strong growth momentum and leading operational efficiency, possesses the fundamental basis for a valuation that is comparable to, or even on par with, global fashion giants. Current market analysts assign SHEIN a P/E valuation range of 20x to 30x, positioning it between H&M and Inditex. According to Reuters, the Company’s target valuation for this IPO is in the range of US$35 billion to US$40 billion, fully reflecting its solid operational fundamentals and long-term growth potential. Innovation drives industrial upgrading. Deep cultivation fuels global development. With over a decade of deep engagement in the industry, SHEIN, leveraging its unique business model, solid supply chain capabilities and deep global brand equity, has completed a transformative leap from a rising Chinese cross-border player to a global fashion leader. Following its successful listing on the Hong Kong capital market, SHEIN will leverage the international capital platform of the Hong Kong stock market to further deepen technological innovation, optimize its global footprint and reinforce its industry moats. With vast market headroom and abundant growth momentum, the Company’s future development potential is well worth investors’ high expectations.