Neo-Concept announces 5-for-1 share cosolidation
Share Consolidation Approval: Neo-Concept's Extraordinary General Meeting on May 9 approved a share consolidation, converting every five shares into one, changing the authorized share capital to $50,000 with 160,000,000 shares of par value $0.0003125 each.
Effective Date and Trading Information: The consolidation will take effect by July 1, 2025, and will be reflected in the Nasdaq Capital Market starting June 16, 2025, with Class A Ordinary Shares continuing to trade under the symbol "NCI."
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Neo-Concept International Reports Decreased Revenue and Increased Net Income for First Half of 2025
Revenue Decline: Neo-Concept International Group Holdings reported a 24% decrease in revenue to HK$60.2 million for the first half of 2025, primarily due to a 51.7% drop in private-label apparel sales linked to U.S.-China customs issues.
Growth in Owned-Brand Sales: The decline in overall revenue was partially offset by a 138.8% increase in owned-brand retail sales, reaching HK$27.5 million, attributed to new store openings.
Net Income Increase: The company's net income rose to HK$2.0 million from HK$1.4 million, supported by higher gross profit, with earnings per share increasing to HK$0.50 from HK$0.37.
Rising Expenses and Tax: Selling, general, and administrative expenses increased by 48.33% to HK$23.5 million, while other income fell by 47.1% to HK$1.2 million, and income tax expenses were reported at HK$0.9 million compared to none the previous year.
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