Tycoon Group released its unaudited interim results for the six months ended 30 June 2026 (1H 2026), reporting a return to profitability driven by e-commerce growth and tightened overheads.
Revenue slipped 2.70 % year-on-year to HK$496.10 million, reflecting softer distribution and retail store sales that offset a 45.90 % jump in e-commerce turnover to HK$127.59 million. Distribution remained the largest contributor at HK$306.05 million, down 10.90 %, while retail store revenue fell 21.20 % to HK$62.46 million.
Gross profit declined 5.20 % to HK$122.54 million and margin eased 0.6 percentage points to 24.7 %. Nonetheless, disciplined cost management cut general and administrative expenses by 25.10 % and trimmed selling and distribution costs by 1.90 %. As a result, EBITDA nearly doubled to HK$30.94 million, lifting the EBITDA margin to 6.2 % from 3.1 % a year earlier.
The Group posted a profit attributable to equity holders of HK$7.13 million, reversing the HK$7.98 million loss in 1H 2025. Return on equity improved to 1.3 % from ‑1.5 %.
Mainland China was the standout geography, with revenue rising 45.90 % to HK$127.59 million, driven by the consolidation of subsidiaries reinstated in March 2025. Hong Kong sales contracted 10.50 % to HK$301.23 million amid subdued consumer sentiment, while Southeast Asia revenue fell 45.40 % to HK$23.60 million due to a deliberate shift toward higher-margin products. Macau inched up 1.80 % to HK$43.68 million.
Total assets stood at HK$1.14 billion at end-June, down 2.60 % from December 2025, with cash and cash equivalents decreasing to HK$22.28 million from HK$70.34 million after debt repayments and working-capital movements. Total liabilities declined 5.60 % to HK$590.19 million, producing a gearing ratio of 41.7 % versus 40.0 % six months earlier.
The Board did not declare an interim dividend. Management signalled continued focus on expanding Southeast Asian coverage, enhancing self-owned brands, and sustaining cost discipline to preserve profitability in the second half of 2026.