NCINasdaqApparel & Other Finishd Prods of Fabrics & Similar MatlFiscal year ends December 31
Neo-Concept International Group Holdings Ltd
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 30, 2026
$0.65+0.04 (+6.20%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2020 to 2025
Gross margin
36.9%
Operating margin
1.3%
Net margin
0.2%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -41.8% | -26.6% | – | – | |
| Gross profit | +2.5% | +6.6% | – | – | |
| Operating income | -84.4% | -54.3% | – | – | |
| Net income | -95.9% | -70.1% | – | – | |
| EPS, diluted | -96.1% | -71.5% | – | – |
Returns and balance sheet
6 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2020 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | 0.6% | |
| Return on assets | – | – | 0.3% | |
| Current ratio | – | – | 2.61 | |
| Inventory turnover | – | – | 11.0× | |
| Capex to revenue | – | – | 2.9% | |
| Diluted shares | – | – | 4M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Neo-Concept International Group generated 123.85M HKD from operations and spent 9.58M HKD on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
123.85M HKD
Used
9.58M HKD
Capital expenditure9.58M HKD100%Dividends0 HKD0%Share buybacks0 HKD0%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin0.2%
×Asset turnover1.09×
×Equity multiplier2.22×
=Return on equity, FY20250.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 0.2% | 1.09× | 2.22× | 0.6% |
| FY2024 | 3.4% | 2.08× | 4.16× | 29.6% |
| FY2023 | 2.5% | 2.63× | -2.10× | -14.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero331.68K HKD
- Cash generatingOperating cash flow above zero21.37M HKD
- Return on assets improvedROA up on the prior year8.9% → 0.2%
- Earnings backed by cashOperating cash flow above net income21.37M HKD vs 331.68K HKD
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.84 → 2.61
- No dilutionShare count did not rise4M → 4M
- Gross margin improvedGross margin up on the prior year20.98% → 36.93%
- More efficientAsset turnover rose2.60 → 1.01