SA SA INTERNATIONAL HOLDINGS LIMITED 莎莎國際控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：178） 敬啟者： 致新登記股東之函件 － 選擇公司通訊之收取方式及語言版本 根據《香港聯合交易所有限公司證券上市規則》及莎莎國際控股有限公司（「本公司」）的《章程細則》，本公 司現特致函以確定 閣下就收取本公司日後公司通訊 （附註） 之意願， 閣下可選擇(i)收取以英文及╱或中文 製備的印刷本（「印刷本」）；或(ii)以電子方式透過本公司網站(http://corp.sasa.com)或香港交易及結算所有 限公司（「港交所」）之披露易網站(http://www.hkexnews.hk（)「電子版本」）收取公司通訊。 作為一間響應環保的企業及隨着資訊科技的發展，本公司鼓勵 閣下通過本公司或港交所之網站閱覽公 司通訊。請 閣下作出選擇，並填妥、簽署及寄回隨附之回條，並使用該回條底部的郵寄標籤寄回本公 司之香港股份登記及過戶分處卓佳證券登記有限公司（「卓佳」）（如在本港投寄，毋須貼上郵票；否則，請 貼上適當郵票），或交回香港夏愨道16號遠東金融中心17樓。 閣下亦可將已填妥 ...

Financial Performance - For the six months ended September 30, 2025, turnover reached HK$1,990.6 million, representing a year-on-year increase of 6.6% from HK$1,866.9 million[8]. - Gross profit for the same period was HK$755.0 million, up from HK$724.8 million, indicating a growth of 4.0%[8]. - Profit for the period was HK$50.2 million, a significant increase of 55.0% compared to HK$32.4 million in the previous year[8]. - Basic earnings per share rose to 1.6 HK cents, compared to 1.0 HK cents in the prior year, reflecting a 60.0% increase[8]. - The company declared an interim dividend of 1.15 HK cents per share, with a payout ratio of approximately 71%[8]. - Operating profit for continuing operations was HK$69,523, compared to HK$65,357 in the previous year, indicating a growth of 3.2%[9]. - Profit for the period from continuing operations was HK$52,891, up from HK$47,498, reflecting an increase of 5.0%[9]. - Total comprehensive income for the period attributable to owners of the Company was HK$58,354, an increase of 19.4% from HK$48,876 in 2024[150]. Financial Position - As of September 30, 2025, total equity stood at HK$1,163.0 million, with cash and bank balances of HK$251.1 million[8]. - The current ratio was reported at 1.6 times, indicating a solid financial position[8]. - Total assets decreased to HK$2,323,124 from HK$2,343,253, a decline of 0.9%[9]. - Total liabilities decreased to HK$1,160,142 from HK$1,197,336, a reduction of 3.1%[9]. - Net assets increased to HK$1,162,982, up from HK$1,145,917, showing a growth of 1.5%[9]. - The Group's total equity as of September 30, 2025, was HK$1,162,982,000, an increase from HK$1,145,917,000 as of September 30, 2024[154]. Sales and Market Performance - The geographical sales mix showed that Hong Kong & Macau contributed 77.1% to total sales, while Chinese Mainland and Southeast Asia accounted for 11.4% and 11.3%, respectively[8]. - The number of points of sale increased to 157, with Hong Kong & Macau sales points growing by 8.9% and Southeast Asia by 3.7%[8]. - Offline sales in Hong Kong and Macau reached HK$1,424.9 million, an increase of 8.9% year-on-year, while Southeast Asia's offline sales were HK$168.5 million, up by 3.7%[49]. - Online sales in Hong Kong and Macau grew by 16.3% year-on-year to HK$110.3 million, while online sales in Southeast Asia surged by 43.6% to HK$55.5 million[50]. - Same-store sales in Hong Kong and Macau grew by 11.4% year-on-year, with offline sales performance increasing by 8.9%[76][80]. Operational Insights - The company is actively integrating its physical and online business presence to enhance the customer-centric omni-channel shopping experience[4]. - The Group plans to focus on market expansion and new product development in the upcoming quarters[9]. - The Group plans to strategically expand its store network in Hong Kong and Macau, contingent on reasonable rental costs[73][74]. - The Group's online sales network includes a diverse range of brands and products, enhancing customer engagement through social media platforms[87][88]. - The Group's Buy-Online-Pick-Up-In-Store (BOPIS) service remains popular, enhancing customer interaction and sales[96][100]. Challenges and Market Trends - The ongoing geopolitical conflicts and trade protectionism have led to economic slowdowns, affecting international trade liquidity and increasing volatility in import and export activities[22]. - The shift in travel habits of Chinese Mainland tourists towards experiential travel has created opportunities for the Group to promote exclusive brands, enhancing customer loyalty and profit margins[29]. - The competitive landscape in the beauty retail sector is prompting companies to optimize their operating models between online and offline channels to enhance efficiency[38][42]. - The Group remains cautiously optimistic about the Hong Kong and Macau markets, despite challenges such as labor shortages and high operating costs[35][39]. Visitor Statistics - In the first half of 2025, Hong Kong welcomed 24.2 million visitors, with 18.7 million from the Chinese Mainland, representing a 13.3% increase compared to the previous year[23]. - Macau received 19.8 million visitors, with 14.3 million from the Chinese Mainland, marking a 20.2% increase year-on-year[23]. Inventory and Cash Flow - Group inventories increased to HK$833.5 million, with stock turnover days rising by 21 days to 124 days[138]. - Cash flow from operating activities was negative at HK$42,647, compared to a positive cash flow of HK$54,911 in the previous year[9]. - The Group's total cash balance decreased to HK$251.1 million from HK$371.1 million as of March 31, 2025[65]. Future Outlook - The Group anticipates that further increases in the number of Individual Visit Scheme cities could yield additional positive effects for the tourism and retail sectors in Hong Kong and Macau[27]. - The e-commerce sector in Southeast Asia is projected to grow from USD184 billion in 2024 to USD410 billion by 2030, with a compound annual growth rate of 14%[44][47].

截至月份: 2025年11月30日 狀態: 新提交 FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 致：香港交易及結算所有限公司 公司名稱: Sa Sa International Holdings Limited 莎莎國際控股有限公司 呈交日期: 2025年12月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00178 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 8,000,000,000 | HKD | | 0.1 HKD | | 800,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 8,000,000,000 | HKD | | 0.1 H ...

November 2025 2025 年 11 月 1 Sa Sa International Holdings Limited 莎莎國際控股有限公司 (Stock Code 股份代號：178) 財務表現 財務狀況 財務表現 Financial Performance P.4-6 財務狀況 Financial Position For the six months ended 30 September 2025 截至2025年9月30日止六個月中期業績 業務回顧 Business Review P.10-14 策略及展望 Strategy & Outlook P. 16 2 Financial Performance Financial Position Business Review 業務回顧 Strategy & Outlook 策略及展望 P.8 3 Improved Consumer Sentiment in HK and Macau Drives Group's Offline Sales Up by 8.3% YoY; Online Sales Remained Flat, While Profi ...

Core Viewpoint - Citi's research report indicates that Sa Sa International's performance for the first half of the fiscal year ending September 2026 exceeded expectations, with a net profit of HKD 50 million, reaching the upper limit of its profit forecast [1] Financial Performance - Net profit growth was primarily driven by a 7% year-on-year increase in sales due to a rebound in tourist numbers, improved consumer sentiment, and optimized market strategies [1] - Gross margin decreased by 0.9 percentage points to 37.9% due to the impact of product mix [1] - The dividend payout ratio remained stable at 71%, with expectations for continuity in the future [1] Future Outlook - Despite uncertainties in the macro environment, the company is prioritizing sales and gross margin improvements, and the decision to close offline operations in mainland China has begun to show results [1] - Net profit forecasts for the fiscal years 2026 to 2028 have been raised by 11% to 15% to reflect improved sales prospects and enhanced operating leverage, leading to upward adjustments in revenue and profit margin predictions [1] Investment Rating - Based on attractive valuations, Citi maintains a "Buy" rating for the company, with a slight increase in the target price from HKD 1 to HKD 1.02 [1]

Core Viewpoint - Sasa International (00178.HK) reported a revenue of HKD 1.9906 billion for the six months ending September 30, 2025, representing a year-on-year increase of 6.6% [1] - The gross profit reached HKD 755 million, up 4.2% year-on-year, driven by an increase in tourist numbers from Hong Kong and Macau and successful marketing strategies [1] Group 1 - The group's revenue growth is attributed to the rising number of visitors from its core markets [1] - Effective marketing strategies have successfully increased foot traffic and transaction volume, contributing to overall revenue growth [1] - The increase in gross profit indicates improved operational efficiency and sales performance [1]

Group 1 - The company, Sa Sa International (00178), announced a mid-term dividend of HKD 0.0115 per share, which will be distributed on December 19, 2025 [1] - The dividend pertains to the six-month period ending on September 30, 2025 [1]

Group 1 - The core viewpoint of the article highlights that Sa Sa International (00178) reported a revenue of HKD 1.991 billion for the six months ending September 30, 2025, representing a year-on-year increase of 6.6% [1] - The company's profit attributable to shareholders reached HKD 50.157 million, marking a significant year-on-year increase of 54.77% [1] - Basic earnings per share were reported at HKD 0.016, with a proposed interim dividend of HKD 0.0115 per share [1] Group 2 - The group's revenue for the period was HKD 1.9906 billion, reflecting a 6.6% year-on-year growth [1] - Gross profit amounted to HKD 755 million, which is a 4.2% increase compared to the previous year [1] - The growth in revenue is attributed to the rising number of travelers in the core markets of Hong Kong and Macau, along with successful marketing strategies that boosted customer traffic and sales [1]

莎莎国际(00178)发布公告，该公司将于2025年12月19日派发截至2025年9月30日止6个月的中期股息每 股0.0115港元。 ...

Core Insights - Sasa International (00178) reported a revenue of HKD 1.991 billion for the six months ending September 30, 2025, representing a year-on-year increase of 6.6% [1] - The profit attributable to shareholders was HKD 50.157 million, marking a significant year-on-year increase of 54.77% [1] - Basic earnings per share were HKD 0.016, with a proposed interim dividend of HKD 0.0115 per share [1] Revenue and Profit Analysis - The group's revenue for the period was HKD 1.9906 billion, reflecting a 6.6% year-on-year growth [1] - Gross profit reached HKD 755 million, which is a 4.2% increase compared to the previous year [1] - The growth in revenue and profit was primarily driven by an increase in tourist numbers in the core markets of Hong Kong and Macau, along with successful marketing strategies that boosted customer traffic and sales [1]