1388.Hk
1388.HK operates in the Apparel & Accessories industry, manufacturing and selling clothing and related products to consumers in the Consumer Cyclicals sector.
Business. 1388.HK operates in the Apparel & Accessories industry, manufacturing and selling clothing and related products to consumers in the Consumer Cyclicals sector.
At a glance
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- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
1388.HK operates in the Apparel & Accessories industry, manufacturing and selling clothing and related products to consumers in the Consumer Cyclicals sector.
The company's capital structure shows a debt-to-equity ratio of 0.31, indicating a relatively conservative leverage position compared to industry norms. However, the liquidity position is weak, with only HKD 6.53 million in cash and equivalents and a negative free cash flow of HKD -193.49 million. The current ratio of 1.65 suggests the company has sufficient current assets to cover its short-term liabilities, but the negative operating cash flow of HKD -26.61 million raises concerns about its ability to sustain operations without external financing.
Profitability metrics are alarming, with a return on equity of -16.35% and a return on assets of -10.89%. These figures indicate that the company is not generating returns for its shareholders or effectively utilizing its assets. The operating loss of HKD -247.89 million and a net loss of HKD -253.18 million further underscore the company's financial distress. Gross profit of HKD 818.45 million is insufficient to cover operating expenses, highlighting the need for cost optimization or revenue growth.
The company's revenue concentration is not disclosed in the provided data, but the lack of segment or geographic breakdown suggests a potential risk of over-reliance on a single market or product line. This lack of diversification could expose the company to significant volatility if demand in its primary market declines.
Growth trajectory appears negative, with the company reporting a net loss and negative cash flows. The absence of positive revenue growth or margin expansion in the data indicates a challenging outlook. The company may need to implement strategic changes, such as cost-cutting measures or new product launches, to reverse its current performance.
Risk factors include liquidity constraints and the potential for dilution, although the risk of dilution is currently assessed as low. The company's negative free cash flow and operating cash flow suggest a need for external financing, which could lead to increased debt or equity issuance. The risk assessment also notes that net cash is negative after subtracting total debt, indicating a potential liquidity crisis.
Recent events, such as filings and transcripts, are not detailed in the provided data. However, the financial snapshot indicates a deteriorating financial position, which may have been discussed in recent disclosures. The company's management may need to address these issues through strategic initiatives or restructuring efforts.
- The company is experiencing significant financial distress, with a net loss and negative cash flows.
- The debt-to-equity ratio is relatively low, but the liquidity position is weak.
- Profitability metrics are negative, indicating poor returns for shareholders and inefficient asset utilization.
- The company's growth trajectory is negative, and strategic changes may be necessary to improve performance.
- The risk of dilution is currently low, but the company may need external financing to address liquidity concerns.
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consensus EPS · 26-week trendSell-side observations
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Risk factors
- Net cash is negative after subtracting total debt.
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- Dilution Ratio(shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
- Net Cashcash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
- Capex To Revenuecapital_expenditure / revenue
- Return On Equitynet_income / total_equity
- Debt To Equity(short_term_debt + long_term_debt) / total_equity
- Cash Conversion Ratiooperating_cash_flow / net_income
- 1388.HK Market data — financials · 2026-05-26
Ownership & reference
Leadership
- Liza ChengChief Executive Officer, Executive Director
- Ming Chu NgokExecutive Chairman of the Board