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Top Form International Limited logo

Top Form International Limited

0333.HK

HKSEConsumer CyclicalApparel - Manufacturers

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Latest quote

HK$0.204

HK$0.00 · 0.00%

Aug 21, 2:45 PM HKTData delayed

0333.HK company overview

Regular session · HKT · Market data may be delayed.

Company profile

Company website

Top Form International Limited functions as an investment holding entity primarily dedicated to the conceptualization, production, and global sale of women's intimate wear. Its product line encompasses brassieres, ladies' undergarments, and seamless apparel. Furthermore, the company diversifies its activities through molding and laminating services, property management and investment endeavors, and by offering specialized consultancy for intimate apparel and accessories. The firm boasts a broad international operational footprint, extending across territories including Hong Kong, the United States, Belgium, the Netherlands, Spain, France, Sri Lanka, Canada, mainland China, Germany, Italy, and Mexico, among other worldwide locations. Founded in 1963, Top Form International Limited maintains its corporate headquarters in Kowloon, Hong Kong.

Industry
Apparel - Manufacturers
Sector
Consumer Cyclical
Headquarters
HK
CEO
Kai Chung Wong
Listed since
Dec 16, 1991
Employees
6,727

Market position

Volume
62K
3.57× average
Average volume
17.39K
Average daily volume
Market cap
61.41M HKD
Beta
0.31
Market reference 1

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
109.45M HKD
P/E (TTM)
-1.08×
P/B (TTM)
0.19×
P/S (TTM)
0.06×
EV / EBITDA
5.63×
Earnings yield
-40.87%
Free cash flow yield
-1.86%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
19.89%
Operating margin
2.57%
Net margin
-5.24%
Return on equity
-9.15%
Return on assets
-4.22%
Return on invested capital
-1.49%

Financial health

Debt / equity
0.49×
Current ratio
1.3×
Altman Z-score
3.16
Piotroski F-score
4 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends26%13%1%-12%Gross margin, FY2020: 16.66%Gross margin, FY2021: 18.49%Gross margin, FY2022: 17.41%Gross margin, FY2023: 22.61%Gross margin, FY2024: 19.90%Operating margin, FY2020: 1.06%Operating margin, FY2021: 1.56%Operating margin, FY2022: -6.62%Operating margin, FY2023: 1.71%Operating margin, FY2024: -0.68%Net margin, FY2020: 0.20%Net margin, FY2021: 0.24%Net margin, FY2022: -8.41%Net margin, FY2023: -0.20%Net margin, FY2024: -2.68%FY2020FY2021FY2022FY2023FY2024
Gross margin FY2020 16.66%. Gross margin FY2021 18.49%. Gross margin FY2022 17.41%. Gross margin FY2023 22.61%. Gross margin FY2024 19.90%. Operating margin FY2020 1.06%. Operating margin FY2021 1.56%. Operating margin FY2022 -6.62%. Operating margin FY2023 1.71%. Operating margin FY2024 -0.68%. Net margin FY2020 0.20%. Net margin FY2021 0.24%. Net margin FY2022 -8.41%. Net margin FY2023 -0.20%. Net margin FY2024 -2.68%.

Income trends

Revenue

1.22B HKD+7.57%

Operating income

−8.31M HKD−27.59M HKD

Net income

−32.61M HKD-1377.53%
Income trends across reported periods1.64B HKD1.01B HKD385.17M HKD−241.36M HKDRevenue, FY2020: 1.43B HKDRevenue, FY2021: 1.48B HKDRevenue, FY2022: 1.01B HKDRevenue, FY2023: 1.13B HKDRevenue, FY2024: 1.22B HKDOperating income, FY2020: 15.17M HKDOperating income, FY2021: 23.05M HKDOperating income, FY2022: −66.69M HKDOperating income, FY2023: 19.27M HKDOperating income, FY2024: −8.31M HKDNet income, FY2020: 2.8M HKDNet income, FY2021: 3.55M HKDNet income, FY2022: −84.73M HKDNet income, FY2023: −2.21M HKDNet income, FY2024: −32.61M HKDFY2020FY2021FY2022FY2023FY2024
Revenue FY2020 1.43B HKD. Revenue FY2021 1.48B HKD. Revenue FY2022 1.01B HKD. Revenue FY2023 1.13B HKD. Revenue FY2024 1.22B HKD. Operating income FY2020 15.17M HKD. Operating income FY2021 23.05M HKD. Operating income FY2022 −66.69M HKD. Operating income FY2023 19.27M HKD. Operating income FY2024 −8.31M HKD. Net income FY2020 2.8M HKD. Net income FY2021 3.55M HKD. Net income FY2022 −84.73M HKD. Net income FY2023 −2.21M HKD. Net income FY2024 −32.61M HKD.
Metric (HKD)FY2024FY2023FY2022FY2021FY2020
Revenue1.22B HKD1.13B HKD1.01B HKD1.48B HKD1.43B HKD
Cost of goods sold973.76M HKD874.67M HKD831.68M HKD1.21B HKD1.19B HKD
Gross profit241.97M HKD255.49M HKD175.34M HKD273.93M HKD237.98M HKD
Selling, general, and administrative266.21M HKD258.04M HKD257.42M HKD268.68M HKD279.42M HKD
Operating expenses250.29M HKD236.22M HKD242.03M HKD250.88M HKD222.81M HKD
Interest income263K HKD1.06M HKD519K HKD1.18M HKD559K HKD
Interest expense21.46M HKD19.04M HKD12.37M HKD7.88M HKD6.85M HKD
Depreciation and amortization27.09M HKD42.59M HKD44.54M HKD45.37M HKD51.21M HKD
Operating income−8.31M HKD19.27M HKD−66.69M HKD23.05M HKD15.17M HKD
Net income−32.61M HKD−2.21M HKD−84.73M HKD3.55M HKD2.8M HKD

Company facts updated Aug 24, 2026.

Earnings

Latest EPS result
-0.06

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly EPS actual values compared with estimates0.08-0.03-0.14-0.24Q2 '21Q4 '21Q2 '22Q1 '23Q3 '23Q1 '24Q3 '24Q1 '25
Q2 2021, reported Jun 30, 2021: actual -0.073, estimate —, surprise —, Comparison unavailable. Q4 2021, reported Dec 31, 2021: actual 0.001, estimate —, surprise —, Comparison unavailable. Q2 2022, reported Jun 30, 2022: actual 0.01, estimate —, surprise —, Comparison unavailable. Q1 2023, reported Feb 23, 2023: actual -0.079, estimate —, surprise —, Comparison unavailable. Q3 2023, reported Sep 29, 2023: actual -0.202, estimate —, surprise —, Comparison unavailable. Q1 2024, reported Feb 22, 2024: actual -0.043, estimate —, surprise —, Comparison unavailable. Q3 2024, reported Sep 26, 2024: actual 0.036, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Feb 25, 2025: actual -0.059, estimate —, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly Revenue actual values compared with estimates821.4M694.37M567.35M440.32MQ2 '21Q4 '21Q2 '22Q1 '23Q3 '23Q1 '24Q3 '24Q1 '25
Q2 2021, reported Jun 30, 2021: actual 789.81M HKD, estimate —, surprise —, Comparison unavailable. Q4 2021, reported Dec 31, 2021: actual 713.65M HKD, estimate —, surprise —, Comparison unavailable. Q2 2022, reported Jun 30, 2022: actual 767.94M HKD, estimate —, surprise —, Comparison unavailable. Q1 2023, reported Feb 23, 2023: actual 471.91M HKD, estimate —, surprise —, Comparison unavailable. Q3 2023, reported Sep 29, 2023: actual 535.1M HKD, estimate —, surprise —, Comparison unavailable. Q1 2024, reported Feb 22, 2024: actual 513.75M HKD, estimate —, surprise —, Comparison unavailable. Q3 2024, reported Sep 26, 2024: actual 616.42M HKD, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Feb 25, 2025: actual 642.39M HKD, estimate —, surprise —, Comparison unavailable.

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

HK$0.0891

2018 complete year-0.0% since 2014

Corporate action history

Dividend

Ex-dividend Nov 9, 2018

HK$0.05

Special

Record Nov 12, 2018 · Payment Nov 29, 2018

Dividend

Ex-dividend Mar 9, 2018

HK$0.05

Quarterly

Record Mar 12, 2018 · Payment Mar 28, 2018

Dividend

Ex-dividend Nov 9, 2017

HK$0.05

Special

Record Nov 10, 2017 · Payment Nov 29, 2017

Dividend

Ex-dividend Mar 10, 2017

HK$0.05

Quarterly

Record Mar 13, 2017 · Payment Mar 29, 2017

Dividend

Ex-dividend Nov 10, 2016

HK$0.05

Special

Dividend

Ex-dividend Mar 7, 2016

HK$0.05

Special

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