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Carote Ltd logo

Carote Ltd

2549.HK

HKSEConsumer CyclicalFurnishings, Fixtures & Appliances

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Latest quote

HK$3.75

+HK$0.065 · +1.72%

Aug 21, 3:55 PM HKTData delayed

2549.HK company overview

Regular session · HKT · Market data may be delayed.

Company profile

Company website

Carote Ltd, an investment holding entity, is a supplier of a wide array of kitchenware products for brand-owners and retailers, marketed primarily under its CAROTE brand. Its comprehensive product line features cookware, including non-stick pots and pans, cast iron pots, and curated sets, alongside kitchen tools such as organizers, storage containers, knives, cutting boards, spatulas, and ladles. The company also offers drinkware like water bottles, glasses, and mugs, as well as other household items including tableware and small kitchen appliances such as air fryers and electric cooking pots. Carote Ltd distributes its merchandise exclusively through online retail channels. Established in 2007 and headquartered in Hangzhou City, China, the company maintains an international operational footprint spanning Mainland China, the United States, Western Europe, Japan, and Southeast Asia. Carote Ltd operates as a subsidiary of Yili Investment Holdings Ltd.

Industry
Furnishings, Fixtures & Appliances
Sector
Consumer Cyclical
Headquarters
CN
CEO
Guodong Zhang
Listed since
Oct 2, 2024
Employees
257

Market position

Volume
23.5K
0.13× average
Average volume
175.15K
Average daily volume
Market cap
2.12B HKD
Beta
-0.09
Market reference 1

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
2.21B CNY
P/E (TTM)
7.06×
P/B (TTM)
1.29×
P/S (TTM)
0.84×
EV / EBITDA
7.83×
Earnings yield
11.36%
Free cash flow yield
-1.13%
Dividend yield
3.69%

Profitability & efficiency

Gross margin
31.78%
Operating margin
17.68%
Net margin
11.95%
Return on equity
18.31%
Return on assets
13.58%
Return on invested capital
13.29%

Financial health

Debt / equity
0×
Current ratio
3.31×
Altman Z-score
5.17
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 trends44%30%15%1%Gross margin, FY2021: 18.73%Gross margin, FY2022: 35.82%Gross margin, FY2023: 35.70%Gross margin, FY2024: 40.29%Gross margin, FY2025: 31.78%Operating margin, FY2021: 4.84%Operating margin, FY2022: 16.15%Operating margin, FY2023: 17.13%Operating margin, FY2024: 19.21%Operating margin, FY2025: 12.37%Net margin, FY2021: 4.70%Net margin, FY2022: 14.15%Net margin, FY2023: 14.98%Net margin, FY2024: 17.17%Net margin, FY2025: 11.95%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 18.73%. Gross margin FY2022 35.82%. Gross margin FY2023 35.70%. Gross margin FY2024 40.29%. Gross margin FY2025 31.78%. Operating margin FY2021 4.84%. Operating margin FY2022 16.15%. Operating margin FY2023 17.13%. Operating margin FY2024 19.21%. Operating margin FY2025 12.37%. Net margin FY2021 4.70%. Net margin FY2022 14.15%. Net margin FY2023 14.98%. Net margin FY2024 17.17%. Net margin FY2025 11.95%.

Income trends

Revenue

2.16B CNY+4.02%

Operating income

266.68M CNY-33.06%

Net income

257.81M CNY-27.58%
Income trends across reported periods2.37B CNY1.52B CNY669.2M CNY−180.78M CNYRevenue, FY2021: 675.35M CNYRevenue, FY2022: 768.48M CNYRevenue, FY2023: 1.58B CNYRevenue, FY2024: 2.07B CNYRevenue, FY2025: 2.16B CNYOperating income, FY2021: 32.7M CNYOperating income, FY2022: 124.14M CNYOperating income, FY2023: 271.19M CNYOperating income, FY2024: 398.36M CNYOperating income, FY2025: 266.68M CNYNet income, FY2021: 31.72M CNYNet income, FY2022: 108.77M CNYNet income, FY2023: 237.13M CNYNet income, FY2024: 355.99M CNYNet income, FY2025: 257.81M CNYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 675.35M CNY. Revenue FY2022 768.48M CNY. Revenue FY2023 1.58B CNY. Revenue FY2024 2.07B CNY. Revenue FY2025 2.16B CNY. Operating income FY2021 32.7M CNY. Operating income FY2022 124.14M CNY. Operating income FY2023 271.19M CNY. Operating income FY2024 398.36M CNY. Operating income FY2025 266.68M CNY. Net income FY2021 31.72M CNY. Net income FY2022 108.77M CNY. Net income FY2023 237.13M CNY. Net income FY2024 355.99M CNY. Net income FY2025 257.81M CNY.
Metric (CNY)FY2025FY2024FY2023FY2022FY2021
Revenue2.16B CNY2.07B CNY1.58B CNY768.48M CNY675.35M CNY
Cost of goods sold1.47B CNY1.24B CNY1.02B CNY493.2M CNY548.8M CNY
Gross profit685.42M CNY835.4M CNY565.14M CNY275.29M CNY126.52M CNY
Research and development39.57M CNY41.36M CNY35.89M CNY20.82M CNY18.12M CNY
Selling, general, and administrative368.07M CNY437.9M CNY277.04M CNY111.3M CNY62.9M CNY
Operating expenses418.74M CNY437.04M CNY293.95M CNY151.14M CNY93.85M CNY
Interest income47.27M CNY19.16M CNY7.45M CNY5.57M CNY4.86M CNY
Interest expense70.14K CNY258K CNY297K CNY3.21M CNY1.74M CNY
Depreciation and amortization3.79M CNY6.26M CNY4.54M CNY4.39M CNY5.7M CNY
Operating income266.68M CNY398.36M CNY271.19M CNY124.14M CNY32.7M CNY
Net income257.81M CNY355.99M CNY237.13M CNY108.77M CNY31.72M CNY

Company facts updated Aug 24, 2026.

Earnings

Latest EPS result
0.16

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly EPS actual values compared with estimates0.250.190.140.08Q1 '25Q3 '25Q1 '26
Q1 2025, reported Mar 26, 2025: actual 0.099, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 28, 2025: actual 0.208, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Mar 26, 2026: actual 0.156, estimate —, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly Revenue actual values compared with estimates954.75M772.8M590.85M408.9MQ1 '25Q3 '25Q1 '26
Q1 2025, reported Mar 26, 2025: actual 446.55M HKD, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 28, 2025: actual 917.1M HKD, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Mar 26, 2026: actual 733.86M HKD, estimate —, surprise —, Comparison unavailable.

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