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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Sa Sa International
Sa Sa International (178) investor relations material
Sa Sa International H2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H2 25/26 earnings summary25 Jun, 2026
Executive summary
Turnover increased by 14.2% year-over-year to HK$4,383M for the year ended 31 March 2026, with group profit rising 160.5% to HK$201M, driven by strong Hong Kong and Macao performance and closure of offline Chinese Mainland operations.
Gross profit margin declined by 1.3 ppt to 38.2%, while basic EPS rose to 6.5 HK cents from 2.5 HK cents year-over-year.
Final dividend per share doubled to 3.4 HK cents, with a special dividend of 1.9 HK cents declared, totaling 6.45 HK cents per share and a payout ratio near 100%.
First quarter FY2026/27 turnover up 24.0% year-over-year, with offline sales in Hong Kong and Macao up 32.5%.
Financial highlights
Offline sales grew 15.7% year-over-year to HK$3,613M, while online sales increased 7.6% to HK$770M.
Hong Kong & Macao contributed 79.7% of turnover, Mainland China 9.0%, and Southeast Asia & others 11.3%.
Net profit from continuing operations reached HK$202.7M, up from HK$130.9M last year.
Cash and cash equivalents increased 36% to HK$505M; total available funds of HK$820M as of 31 March 2026.
Inventories rose to HK$767M, with stock turnover days steady at 103.
Outlook and guidance
Plans to open 6–7 new stores in Hong Kong and Macao in the first half of FY2026/27.
Focus on optimizing product portfolio, expanding store network in HK & Macao, and strengthening APAC presence.
Continued emphasis on online growth in Chinese Mainland and Southeast Asia, leveraging social media and e-commerce platforms.
Prudent approach to growth amid global economic and geopolitical uncertainties.
Incubation of potential brands to enhance the brand ecosystem is a key growth driver.
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Latest events from Sa Sa International
- Profit surged 54.8% on 6.6% turnover growth, led by Hong Kong, Macau, and online focus.178
H1 25/26 - Turnover fell 9.7% YoY, with all Mainland China stores set to close by June 2025.178H2 24/25
- Turnover and profit fell, while online sales surged and HK and Macau trends improved.178H1 24/25
- Turnover up 24.8% to HK$4.37B, profit rebounds, 70% payout, strong online and cash flow.178H2 23/24
Next Sa Sa International earnings date
H1 26/2720 Nov, 2026
Sa Sa International
Next Sa Sa International earnings date
H1 26/2720 Nov, 2026
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Frequently asked questions
Sa Sa International Holdings Limited is a Hong Kong-based retail company specializing in beauty and personal care products. The company operates an extensive network of retail stores across Hong Kong, Macau, Mainland China, and Southeast Asia, offering a variety of skincare, fragrance, makeup, and health supplements. In addition to its brick-and-mortar stores, Sa Sa has a growing e-commerce presence, providing online shopping options for its customers. Sa Sa sources products from international brands as well as its own private labels, catering to a wide range of beauty needs and preferences. The company is headquartered in Hong Kong, and its shares are listed on the HKEX.