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Mulsanne Group Holding Limited logo

Mulsanne Group Holding Limited

1817.HK

HKSEConsumer CyclicalApparel - Retail

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Latest quote

HK$0.255

+HK$0.015 · +6.25%

Aug 24, 1:17 PM HKT

1817.HK company overview

Regular session · HKT · Market data may be delayed.

Company profile

Company website

Mulsanne Group Holding Limited functions as an investment holding company, primarily involved in the creation, promotion, and sale of clothing for men, women, and children throughout Mainland China and Macau. Its product range also encompasses sportswear. The company boasts a portfolio of brands, including GXG, gxg jeans, gxg.kids, Yatlas, Mode Commuter, and 2XU, among others. Beyond its core apparel business, Mulsanne Group offers advisory services and undertakes equity investments. Goods are distributed to end consumers via a diverse network comprising self-owned stores, partnership outlets, and independent distributors, complemented by a robust online presence on major e-commerce platforms like Tmall.com, Taobao, VIPshop, TikTok, and WeChat mini programs. By December 31, 2021, the company managed a substantial retail footprint of 1,198 stores. Established in 2007, its corporate headquarters are situated in Ningbo, People's Republic of China.

Industry
Apparel - Retail
Sector
Consumer Cyclical
Headquarters
CN
CEO
Yong Yu
Listed since
May 27, 2019
Employees
404

Market position

52-week range

Current HK$0.255

Open
HK$0.255
Previous close
HK$0.24
Volume
0
0× average
Average volume
11.09K
Average daily volume
Market cap
235.37M HKD
Beta
-0.51
Market reference 1
50-day average
HK$0.2338
+9.05% above average
200-day average
HK$0.2725
-6.44% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
748.19M CNY
P/E (TTM)
6.32×
P/B (TTM)
0.26×
P/S (TTM)
0.1×
EV / EBITDA
7.18×
Earnings yield
12.65%
Free cash flow yield
93.13%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
50.99%
Operating margin
2.68%
Net margin
1.54%
Return on equity
4.11%
Return on assets
1.62%
Return on invested capital
3.09%

Financial health

Debt / equity
0.88×
Current ratio
0.98×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends58%36%14%-9%Gross margin, FY2021: 49.27%Gross margin, FY2022: 48.92%Gross margin, FY2023: 52.05%Gross margin, FY2024: 52.82%Gross margin, FY2025: 50.99%Operating margin, FY2021: 1.29%Operating margin, FY2022: 1.80%Operating margin, FY2023: 3.31%Operating margin, FY2024: 2.80%Operating margin, FY2025: 2.68%Net margin, FY2021: -3.33%Net margin, FY2022: 0.53%Net margin, FY2023: 1.70%Net margin, FY2024: 1.36%Net margin, FY2025: 1.54%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 49.27%. Gross margin FY2022 48.92%. Gross margin FY2023 52.05%. Gross margin FY2024 52.82%. Gross margin FY2025 50.99%. Operating margin FY2021 1.29%. Operating margin FY2022 1.80%. Operating margin FY2023 3.31%. Operating margin FY2024 2.80%. Operating margin FY2025 2.68%. Net margin FY2021 -3.33%. Net margin FY2022 0.53%. Net margin FY2023 1.70%. Net margin FY2024 1.36%. Net margin FY2025 1.54%.

Income trends

Revenue

2.06B CNY-9.42%

Operating income

55.05M CNY-13.31%

Net income

31.62M CNY+2.16%
Income trends across reported periods2.97B CNY1.86B CNY745.79M CNY−368.18M CNYRevenue, FY2021: 2.7B CNYRevenue, FY2022: 2.33B CNYRevenue, FY2023: 2.33B CNYRevenue, FY2024: 2.27B CNYRevenue, FY2025: 2.06B CNYOperating income, FY2021: 34.83M CNYOperating income, FY2022: 41.78M CNYOperating income, FY2023: 77.03M CNYOperating income, FY2024: 63.5M CNYOperating income, FY2025: 55.05M CNYNet income, FY2021: −89.68M CNYNet income, FY2022: 12.43M CNYNet income, FY2023: 39.57M CNYNet income, FY2024: 30.95M CNYNet income, FY2025: 31.62M CNYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 2.7B CNY. Revenue FY2022 2.33B CNY. Revenue FY2023 2.33B CNY. Revenue FY2024 2.27B CNY. Revenue FY2025 2.06B CNY. Operating income FY2021 34.83M CNY. Operating income FY2022 41.78M CNY. Operating income FY2023 77.03M CNY. Operating income FY2024 63.5M CNY. Operating income FY2025 55.05M CNY. Net income FY2021 −89.68M CNY. Net income FY2022 12.43M CNY. Net income FY2023 39.57M CNY. Net income FY2024 30.95M CNY. Net income FY2025 31.62M CNY.
Metric (CNY)FY2025FY2024FY2023FY2022FY2021
Revenue2.06B CNY2.27B CNY2.33B CNY2.33B CNY2.7B CNY
Cost of goods sold1.01B CNY1.07B CNY1.12B CNY1.19B CNY1.37B CNY
Gross profit1.05B CNY1.2B CNY1.21B CNY1.14B CNY1.33B CNY
Selling, general, and administrative993.36M CNY1.14B CNY1.13B CNY1.09B CNY1.15B CNY
Operating expenses993.36M CNY1.14B CNY1.14B CNY1.1B CNY1.29B CNY
Interest income2.16M CNY20.29M CNY25.26M CNY32M CNY2.43M CNY
Interest expense25.92M CNY53.22M CNY67.79M CNY63.08M CNY59.41M CNY
Depreciation and amortization59.53M CNY65.36M CNY179.91M CNY63.59M CNY184.81M CNY
Operating income55.05M CNY63.5M CNY77.03M CNY41.78M CNY34.83M CNY
Net income31.62M CNY30.95M CNY39.57M CNY12.43M CNY−89.68M CNY

Company facts updated Aug 24, 2026.

Earnings

Latest EPS result
0.03

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly EPS actual values compared with estimates0.1-0.01-0.12-0.23Q2 '21Q4 '21Q3 '22Q1 '23Q3 '23Q1 '24Q3 '24Q1 '25
Q2 2021, reported Jun 30, 2021: actual 0.063, estimate —, surprise —, Comparison unavailable. Q4 2021, reported Dec 31, 2021: actual -0.185, estimate —, surprise —, Comparison unavailable. Q3 2022, reported Aug 26, 2022: actual 0.007, estimate —, surprise —, Comparison unavailable. Q1 2023, reported Mar 31, 2023: actual 0.008, estimate —, surprise —, Comparison unavailable. Q3 2023, reported Aug 31, 2023: actual 0.035, estimate —, surprise —, Comparison unavailable. Q1 2024, reported Mar 29, 2024: actual 0.012, estimate —, surprise —, Comparison unavailable. Q3 2024, reported Aug 23, 2024: actual 0.008, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Mar 27, 2025: actual 0.028, estimate —, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly Revenue actual values compared with estimates1.9B1.63B1.36B1.1BQ2 '21Q4 '21Q3 '22Q1 '23Q3 '23Q1 '24Q3 '24Q1 '25
Q2 2021, reported Jun 30, 2021: actual 1.45B HKD, estimate —, surprise —, Comparison unavailable. Q4 2021, reported Dec 31, 2021: actual 1.83B HKD, estimate —, surprise —, Comparison unavailable. Q3 2022, reported Aug 26, 2022: actual 1.23B HKD, estimate —, surprise —, Comparison unavailable. Q1 2023, reported Mar 31, 2023: actual 1.46B HKD, estimate —, surprise —, Comparison unavailable. Q3 2023, reported Aug 31, 2023: actual 1.17B HKD, estimate —, surprise —, Comparison unavailable. Q1 2024, reported Mar 29, 2024: actual 1.38B HKD, estimate —, surprise —, Comparison unavailable. Q3 2024, reported Aug 23, 2024: actual 1.17B HKD, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Mar 27, 2025: actual 1.26B HKD, estimate —, surprise —, Comparison unavailable.

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