Reported Earnings • May 05
Full year 2025 earnings released: EPS: HK$0.082 (vs HK$2.06 in FY 2024) Full year 2025 results: EPS: HK$0.082 (down from HK$2.06 in FY 2024). Revenue: HK$137.2m (down 42% from FY 2024). Net income: HK$331.7k (down 96% from FY 2024). Profit margin: 0.2% (down from 3.4% in FY 2024). The decrease in margin was driven by lower revenue. Board Change • Apr 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Chairlady & CEO Eva Siu is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. New Risk • Feb 12
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 365% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (72% average weekly change). Shareholders have been substantially diluted in the past year (365% increase in shares outstanding). Minor Risks Profit margins are more than 30% lower than last year (4.0% net profit margin). Market cap is less than US$100m (US$49.9m market cap). Announcement • Feb 12
Neo-Concept International Group Holdings Limited has completed a Follow-on Equity Offering in the amount of $8.09919 million. Neo-Concept International Group Holdings Limited has completed a Follow-on Equity Offering in the amount of $8.09919 million.
Security Name: Class A Ordinary Shares
Security Type: Common Stock
Securities Offered: 14,850,000
Price\Range: $0.5454
Discount Per Security: $0.02727 Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$1.02, the stock trades at a trailing P/E ratio of 3.7x. Average trailing P/E is 20x in the Luxury industry in the US. Total loss to shareholders of 69% over the past year. Valuation Update With 7 Day Price Move • Dec 31
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to US$1.12, the stock trades at a trailing P/E ratio of 4.1x. Average trailing P/E is 20x in the Luxury industry in the US. Total loss to shareholders of 66% over the past year. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to US$1.45, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 22x in the Luxury industry in the US. Total loss to shareholders of 46% over the past year. Reported Earnings • Nov 26
First half 2025 earnings released: EPS: HK$0.50 (vs HK$0.37 in 1H 2024) First half 2025 results: EPS: HK$0.50 (up from HK$0.37 in 1H 2024). Revenue: HK$60.2m (down 24% from 1H 2024). Net income: HK$2.04m (up 44% from 1H 2024). Profit margin: 3.4% (up from 1.8% in 1H 2024). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • Nov 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to US$1.36, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 21x in the Luxury industry in the US. Total loss to shareholders of 62% over the past year. Valuation Update With 7 Day Price Move • Sep 04
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to US$2.03, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 21x in the Luxury industry in the US. Total loss to shareholders of 6.7% over the past year. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to US$1.80, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 17x in the Luxury industry in the US. Total loss to shareholders of 22% over the past year. Announcement • Jul 30
Neo-Concept International Group Holdings Limited, Annual General Meeting, Aug 11, 2025 Neo-Concept International Group Holdings Limited, Annual General Meeting, Aug 11, 2025, at 15:00 China Standard Time. Location: 10/f, seaview centre, 139-141 hoi bun road, kwun tong, kowloon, Hong Kong Announcement • Jul 29
Neo-Concept International Group Holdings Limited has filed a Follow-on Equity Offering. Neo-Concept International Group Holdings Limited has filed a Follow-on Equity Offering.
Security Name: Class A Ordinary Shares
Security Type: Common Stock
Securities Offered: 10,000,000 Announcement • May 01
Neo-Concept International Group Holdings Limited announced delayed 20-F filing On 04/30/2025, Neo-Concept International Group Holdings Limited announced that they will be unable to file their next 20-F by the deadline required by the SEC. Announcement • Apr 28
Neo-Concept International Group Holdings Limited, Annual General Meeting, May 09, 2025 Neo-Concept International Group Holdings Limited, Annual General Meeting, May 09, 2025, at 09:00 China Standard Time. Location: 10/f, seaview centre, 139-141 hoi bun road, kwun tong, kowloon, Hong Kong New Risk • Feb 19
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.86m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Market cap is less than US$10m (US$9.86m market cap). Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). Announcement • Jan 24
Neo-Concept International Group Holdings Limited Announces Demise of to Wai Suen, an Independent Director, the Chairman of the Audit Committee, and A Member of Each of the Compensation Committee and Nominating and Corporate Governance Committee of the Board of Directors Neo-Concept International Group Holdings Ltd. saddened to announce that, on January 22, 2025, it became aware of the passing away of Mr. To Wai Suen (“Mr. Suen”), an independent director, the Chairman of the audit committee, and a member of each of the compensation committee and nominating and corporate governance committee of the Board of Directors (the “Board”) of the Company . As a result of Mr. Suen’s passing, the Company has appointed Mr. Billy Chun Fai Tang as an independent director, and a member of each of the audit committee, compensation committee, and nominating and corporate governance committee of the Board, effective from January 22, 2025. The Board determined that Mr. Tang qualifies as independent director in accordance with the published listing requirements of NASDAQ. Mr. Tang, aged 50, is an executive Director of Lego Financial Group (3938.hk), a company of which is listed on the Hong Kong Stock Exchange. He was appointed as the executive Director on 1 April 2020. Mr. Tang joined Lego Financial Group in December 2018 and is currently the managing director of Lego Corporate Finance Limited. Since June 2019, Mr. Tang has acted as a Responsible Officer of Lego Corporate Finance Limited for Type 6 (advising on corporate finance) regulated activity under the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong) (“SFO”) and a Licensed Representative of Lego Securities Limited for Type 1 (dealing in securities) regulated activity under the SFO. Mr. Tang has over 25 years of experience in the accounting and investment banking profession. Prior to joining the Group, he worked at Goldin Financial Limited from July 2009 to December 2018 and his last position was the director of investment banking division and a Responsible Officer for Type 6 (advising on corporate finance) regulated activity. Prior to that, he had worked at Optima Capital Limited as a Responsible Officer for Type 6 (advising on corporate finance) regulated activity. He had also worked at BOCOM International Holdings Company Limited, Deloitte & Touche Corporate Finance Limited and PricewaterhouseCoopers. Mr. Tang obtained a bachelor’s degree in business administration from The University of Massachusetts at Amherst, United States, in May 1996. Reported Earnings • Dec 20
First half 2024 earnings released: EPS: HK$0.075 (vs HK$0.29 loss in 1H 2023) First half 2024 results: EPS: HK$0.075 (up from HK$0.29 loss in 1H 2023). Revenue: HK$79.3m (up 1.7% from 1H 2023). Net income: HK$1.41m (up HK$6.59m from 1H 2023). Profit margin: 1.8% (up from net loss in 1H 2023). The move to profitability was primarily driven by lower expenses. New Risk • Dec 19
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.97m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.6x net interest cover). Share price has been highly volatile over the past 3 months (31% average weekly change). Negative equity (-HK$2.4m). Revenue has declined by 50% over the past year. High level of non-cash earnings (292% accrual ratio). Market cap is less than US$10m (US$9.97m market cap). Minor Risk Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). New Risk • Dec 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.6x net interest cover). Share price has been highly volatile over the past 3 months (37% average weekly change). Negative equity (-HK$2.4m). Revenue has declined by 50% over the past year. High level of non-cash earnings (292% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Market cap is less than US$100m (US$11.2m market cap). Board Change • Jul 30
High number of new directors Independent Director Eric Suen was the last director to join the board, commencing their role in 2024. Announcement • May 01
Neo-Concept International Group Holdings Limited announced delayed 20-F filing On 04/30/2024, Neo-Concept International Group Holdings Limited announced that they will be unable to file their next 20-F by the deadline required by the SEC. Announcement • Apr 24
Neo-Concept International Group Holdings Limited has completed an IPO in the amount of $9.28 million. Neo-Concept International Group Holdings Limited has completed an IPO in the amount of $9.28 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,320,000
Price\Range: $4
Discount Per Security: $0.28 
