JNBY Design (3306) AI Stock Analysis

• Market Cap: HK$10.60B
• Dividend Yield: 6.92%
• Average Volume (3M): 968.59K
• Price to Earnings (P/E): 3.4
• Beta (1Y): 0.51
• Revenue Growth: 5.77%
• EPS Growth: 3.95%
• Country: HK
• Employees: 1,678
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Apparel - Manufacturers
• EPS (TTM): 1.47
• Shares Outstanding: 533,285,000
• 10 Day Avg. Volume: 668,176
• 30 Day Avg. Volume: 968,585
• PEG Ratio: 2.21
• Price to Book (P/B): 3.51
• Price to Sales (P/S): 1.49
• P/FCF Ratio: 8.43
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: HK$25.25
• Price Target Upside: 30.78% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): 1.86
• Revenue Forecast (FY): HK$6.01B

• Rating: 83 Outperform
• Price Target: HK$26.00 ▲(34.65% Upside)
• Action: Reiterated Date: 11/11/25
• Date: Action: Reiterated 11/11/25

JNBY Design's strong valuation and technical indicators are the most significant factors contributing to its high score. The stock is attractively priced with a low P/E ratio and high dividend yield, suggesting potential undervaluation and strong income potential. Technical analysis supports a bullish outlook, although caution is advised as indicators approach overbought levels. Financial performance is solid, with consistent revenue growth and profitability, though attention to cash flow trends is recommended.

Positive Factors

Sustained Profitability Margins

High gross and net margins indicate durable pricing power and efficient product sourcing for a designer apparel company. Sustained margins support reinvestment into design, retail expansion and inventory, enabling long-term brand positioning and resilience to cyclical revenue swings.

Strong Return on Equity

A high ROE reflects efficient use of shareholder capital, signalling strong profitability per unit of equity. For a retail designer brand this suggests effective assortment, inventory turnover and capital allocation, supporting long-term shareholder value if maintained.

Consistent Revenue Growth & Multi-Channel Model

Mid-single-digit revenue growth along with a multi-channel mix (owned stores, franchises and e-commerce) indicates steady demand and distribution flexibility. This diversified sales base reduces channel concentration risk and supports sustainable top-line expansion and scale benefits.

Negative Factors

Declining Free Cash Flow Growth

A notable drop in free cash flow growth reduces internal funding for store investments, inventory refreshes and dividend stability. Over several quarters this can force reliance on external financing or cutbacks in growth initiatives, weakening strategic flexibility.

Weak Cash Conversion

OCF generating only 64% of reported net income signals earnings are not fully converting to cash—potentially due to working capital build or receivables. Persistently weak conversion constrains liquidity and raises funding risk during slower sales periods.

Pressure on Operating Margins

Eroding EBIT/EBITDA margins suggest rising operating costs or discounting pressure. If structural, this can compress operating leverage in retail and reduce funds for marketing, design and store upgrades, challenging long-term margin sustainability without efficiency gains.

JNBY Design Business Overview & Revenue Model

Company Description

JNBY Design Limited, together with its subsidiaries, engages in the design, marketing, retail, and sale of fashion apparels, accessory products, and household goods in Mainland China, Hong Kong, Taiwan, and internationally. It offers contemporary apparel, footwear, and accessories for women, men, and children, as well as household products under the JNBY, CROQUIS, jnby by JNBY, less, Pomme de terre, and JNBYHOME brands. As of June 30, 2021, the company operated 1,931 retail stores. It also offers its products through online and social media interactive marketing service platforms. The company was formerly known as Croquis Investment Limited and changed its name to JNBY Design Limited in June 2016. JNBY Design Limited was founded in 1994 and is headquartered in Hangzhou, the People's Republic of China.

How the Company Makes Money

JNBY Design generates revenue primarily through the sale of its fashion products, which include clothing, accessories, and footwear. The company operates a multi-channel retail strategy, utilizing both e-commerce platforms and brick-and-mortar stores to reach a wide customer base. Key revenue streams include direct sales from retail outlets, online sales through their official website, and third-party e-commerce platforms. Additionally, JNBY has established partnerships with various distributors and retailers, enhancing its market reach. The brand's focus on sustainable and innovative designs attracts a loyal customer base, contributing to repeat purchases and brand loyalty, which are crucial for its earnings.

JNBY Design Financial Statement Overview

Summary

JNBY Design exhibits strong financial health with consistent revenue growth and profitability. The balance sheet is stable with manageable leverage, while cash flow generation remains adequate despite recent declines in free cash flow growth. The company is well-positioned in the apparel manufacturing industry, though it should monitor operational efficiencies and cash flow trends closely.

Income Statement

JNBY Design has demonstrated consistent revenue growth over the years, with a notable increase of 2.39% in the latest period. The company maintains strong profitability metrics, including a gross profit margin of 65.59% and a net profit margin of 16.09%. However, there is a slight decline in EBIT and EBITDA margins compared to previous years, indicating potential pressure on operational efficiency.

Balance Sheet

The balance sheet reflects a solid financial position with a manageable debt-to-equity ratio of 0.25, indicating prudent leverage. The return on equity is robust at 37.81%, showcasing effective utilization of shareholder funds. However, the equity ratio stands at 52.13%, suggesting room for improvement in asset financing through equity.

Cash Flow

Cash flow analysis reveals a decline in free cash flow growth by 16.68%, which could impact future liquidity. The operating cash flow to net income ratio is 0.64, indicating moderate cash generation efficiency. The free cash flow to net income ratio of 0.87 suggests a healthy conversion of earnings into cash, though slightly lower than previous periods.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	5.71B	5.55B	5.24B	4.47B	4.09B	4.13B
Gross Profit	3.58B	3.64B	3.47B	2.92B	2.61B	2.60B
EBITDA	1.49B	1.34B	1.67B	961.57M	851.10M	947.34M
Net Income	956.18M	892.65M	849.09M	621.29M	558.88M	647.20M
Balance Sheet
Total Assets	5.25B	4.53B	4.37B	4.07B	3.90B	3.82B
Cash, Cash Equivalents and Short-Term Investments	1.57B	1.18B	1.55B	1.14B	1.08B	1.42B
Total Debt	688.15M	583.57M	359.14M	533.63M	491.53M	490.95M
Total Liabilities	2.57B	2.12B	2.16B	2.08B	2.21B	2.10B
Stockholders Equity	2.63B	2.36B	2.17B	1.98B	1.68B	1.72B
Cash Flow
Free Cash Flow	1.21B	982.72M	1.59B	790.38M	718.43M	1.21B
Operating Cash Flow	1.32B	1.13B	1.60B	939.12M	852.87M	1.34B
Investing Cash Flow	-259.51M	-517.17M	-283.04M	-239.77M	190.18M	-536.46M
Financing Cash Flow	-996.40M	-1.05B	-1.15B	-771.87M	-1.00B	-580.57M

JNBY Design Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 19.31
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3306, the sentiment is Positive. The current price of 19.31 is below the 20-day moving average (MA) of 20.54, below the 50-day MA of 20.01, and above the 200-day MA of 18.19, indicating a bullish trend. The MACD of 0.38 indicates Negative momentum. The RSI at 54.08 is Neutral, neither overbought nor oversold. The STOCH value of 53.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:3306.

JNBY Design Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
3306	83 Outperform	HK$10.60B	3.36	39.46%	6.92%	5.77%	3.95%
2232	76 Outperform	HK$20.28B	4.32	14.24%	5.87%	14.76%	23.04%
1234	69 Neutral	HK$3.92B	4.22	10.67%	8.21%	3.23%	-21.82%
3818	68 Neutral	HK$2.58B	3.44	2.91%	5.01%	-2.56%	―
2030	63 Neutral	HK$942.72M	14.36	2.21%	1.28%	-14.05%	20.05%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
3322	50 Neutral	HK$288.99M	-1.72	-2.35%	―	24.99%	89.24%

JNBY Design Corporate Events

JNBY Design Declares Interim Dividend of HKD 0.52 per Share

JNBY Design Limited has declared an interim ordinary dividend of HKD 0.52 per share for the six months ended 31 December 2025, for the financial year ending 30 June 2026. The dividend will be paid in Hong Kong dollars, with the ex-dividend date set for 24 March 2026.

Shareholders whose holdings are recorded by 27 March 2026 will be entitled to receive the dividend, which is scheduled for payment on 15 April 2026. The announcement underscores the company’s continued capital return to investors and provides clarity on key timetable dates for income-focused shareholders.

The most recent analyst rating on (HK:3306) stock is a Buy with a HK$23.50 price target. To see the full list of analyst forecasts on JNBY Design stock, see the HK:3306 Stock Forecast page.

JNBY Design Delivers Higher Profit and Cash Flow in First-Half 2026

JNBY Design Limited reported solid interim results for the six months ended December 31, 2025, with revenue rising 7.0% year-on-year to RMB3,375.9 million and gross profit increasing 9.2% to RMB2,245.5 million, lifting gross margin to 66.5%. Net profit climbed 11.9% to RMB676.0 million, underpinned by stronger profitability and cost discipline.

The group’s operating cash inflow expanded 21.1% to RMB996.0 million, highlighting improved cash generation and operational efficiency. Reflecting confidence in its financial health and earnings quality, the board declared an interim dividend of HK$0.52 per share, signaling continued commitment to shareholder returns amid steady growth in its core fashion business.

The most recent analyst rating on (HK:3306) stock is a Buy with a HK$23.50 price target. To see the full list of analyst forecasts on JNBY Design stock, see the HK:3306 Stock Forecast page.

JNBY Design Schedules Board Meeting to Review Interim Results and Dividend

JNBY Design has scheduled a board meeting for 26 February 2026 to review and approve the interim financial results for the six months ended 31 December 2025, along with their public release. The board will also consider the declaration of an interim dividend, a decision that could affect shareholder returns and signal management’s confidence in the company’s financial performance and outlook.

The notice also confirms the current composition of the board, listing executive, non-executive and independent non-executive directors, which reflects the company’s governance structure. This mix of management and independent oversight is important for investors monitoring corporate governance standards and decision-making around financial reporting and capital allocation, including potential dividends.

The most recent analyst rating on (HK:3306) stock is a Buy with a HK$21.50 price target. To see the full list of analyst forecasts on JNBY Design stock, see the HK:3306 Stock Forecast page.

JNBY Design Raises HK$270 Million Through Share Placing to Fund Brand and R&D Expansion

JNBY Design Limited has completed a placing of new shares under its general mandate, issuing 14,535,000 shares at HK$18.78 each to at least six independent investors, representing about 2.73% of its enlarged share capital. The transaction raised approximately HK$270 million in net proceeds, which the company plans to deploy mainly towards brand business development and research and development to enhance its market competitiveness, with a smaller portion earmarked for general corporate purposes, all targeted to be fully utilized by December 2026, potentially strengthening its growth prospects and positioning in the fashion market.

The most recent analyst rating on (HK:3306) stock is a Buy with a HK$21.50 price target. To see the full list of analyst forecasts on JNBY Design stock, see the HK:3306 Stock Forecast page.

JNBY Design Launches Discounted Share Placement to Raise About HK$270 Million

JNBY Design Limited has entered into a placing agreement to issue 14,535,000 new shares under its existing general mandate at HK$18.78 per share, representing about 2.80% of its current issued share capital and 2.73% of its enlarged share capital. The placing price reflects a discount of roughly 9.01% to the last closing price and 6.50% to the recent five-day average, and is expected to raise approximately HK$272.97 million in gross proceeds, or HK$269.99 million net, to be applied as outlined in the company’s stated use of proceeds; the transaction is subject to standard conditions and may not complete, prompting the company to caution shareholders and investors about dealing in its securities pending finalisation.

The most recent analyst rating on (HK:3306) stock is a Buy with a HK$21.50 price target. To see the full list of analyst forecasts on JNBY Design stock, see the HK:3306 Stock Forecast page.