TOPSPORTS (06110) saw its shares plummet 5.46% in intraday trading, as investors reacted to the company's disappointing mid-term results and ongoing sales pressure. The stock was trading at HKD 3.30, with a transaction volume of HKD 21.84 million.

The sharp decline comes after TOPSPORTS announced its financial results for the six months ending August 31, 2025. The company reported revenue of approximately HKD 12.2986 billion, representing a year-on-year decrease of 5.79%. Profit attributable to equity holders also took a hit, falling 9.69% year-on-year to about HKD 789 million, with earnings per share of 12.72 cents. Adding to investor concerns, TOPSPORTS disclosed a double-digit percentage decline in total sales for its retail and wholesale operations in the second quarter of the 2025/26 fiscal year compared to the previous year.

Despite the weak performance, TOPSPORTS maintained a relatively high interim dividend of 13 cents, only slightly lower than the 14 cents paid in the same period last year. CCB International, while acknowledging the ongoing sales pressure, noted that the company's cost control measures are yielding significant benefits. The firm anticipates clearer signs of recovery in the second half of the fiscal year and maintains its earnings forecast and neutral rating. With an interim payout ratio of 102% and an expected dividend yield approaching 7%, some analysts believe this could provide downside protection for the stock price, even as the company navigates through challenging market conditions.