Conservative Capital StructureLow leverage and a strong equity ratio imply a solid asset base financed by shareholders, providing durable financial stability. This conservatism enhances resilience in downturns, preserves borrowing capacity for strategic investments, and supports steady dividend policies over the medium term.
Stable Gross MarginsConsistent gross margins near 25-26% and healthy EBIT/EBITDA indicate sustainable pricing power and operating efficiency. This margin stability supports long-term profitability across cycles, cushions margin pressure from raw material swings, and underpins cash generation potential.
Broad Greater China Retail Footprint And ChannelsA diversified retail network across HK, Macau and mainland China plus e-commerce and wholesale distribution provides structural market reach. Multi-channel sales reduce single-channel risk, enable cross-selling, and support scale advantages in sourcing, marketing and brand recognition over time.