Hong Kong-based hotel-amenities supplier Ming Fai International released an unaudited business update for the three months ended 31 March 2026, reporting revenue of HK$575.30 million, up 13.9% year on year. Gross profit edged up 0.7% to HK$121.30 million, while group gross margin compressed to 21.1% from 23.9%, reflecting intensified competition, external market volatility and higher manufacturing costs in the hospitality supplies segment.
Segment performance • Hospitality Supplies: Revenue grew 4.7% to HK$449.00 million, but gross profit declined 13.9% to HK$86.30 million; margin fell to 19.2% from 23.4%. • Operating Supplies & Equipment (OS&E): Revenue almost doubled to HK$78.50 million; gross profit rose to HK$18.20 million with a stable 23.2% margin versus 23.0% a year earlier. • Health Care & Hygienic Products: Revenue increased 38.7% to HK$47.80 million; gross profit jumped 58.5% to HK$16.80 million, lifting margin to 35.1% from 30.8%.
Liquidity and working-capital profile • Cash and cash equivalents stood at HK$465.00 million at 31 March 2026, up from HK$418.40 million at year-end 2025. • Gross trade and bills receivables declined to HK$699.37 million from HK$726.19 million three months earlier. Receivables aged within 90 days accounted for HK$494.60 million, representing 70.75% of the total, while balances over 180 days amounted to HK$87.04 million.
Management will continue monitoring macroeconomic and geopolitical risks and seek new business opportunities to support growth, according to the announcement dated 8 May 2026.
Comments