1. Hong Kong Stocks

  2. •

    Consumer non-durables

  3. •

    Apparel/Footwear
Mainland Headwear Holdings Limited

Mainland Headwear Holdings Limited

HHKEX:1100
1.28
HKD
+0.02
(+1.19%)
545.04MMarket Cap
Mainland Headwear Holdings Limited
HKEX:1100
(Hong Kong Exchange)

Recent

price

1.28

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
HKD
1.71
1.79
1.83
2.2
2.19
2.08
2.08
2.09
2.08
2.69
2.46
3.76
4.4
3.31
3.44
3.96
- -
Revenue per Share
0.01
0.05
0.02
0.02
0.08
0.13
0.17
0.18
0.15
0.14
0.11
0.3
0.46
0.28
0.13
0.28
- -
Basic EPS, GAAP
0.04
0.05
- -
0.1
-0.04
0.07
0.12
-0.06
-0.26
0.04
0.23
0.16
0.39
0.27
-0.1
0.27
- -
Free Cash Flow per Basic Share
0.03
0.03
0.05
0.03
0.02
0.03
0.04
0.05
0.05
0.05
0.05
0.06
0.09
0.09
0.09
0.08
- -
Dividend per Share
1.16
1.19
1.17
1.17
1.24
1.33
1.42
1.57
1.66
1.74
1.81
2.06
2.41
2.59
2.6
2.83
2.83
Book Value per Share
1.14
1.03
1
1.02
1.11
1.21
1.31
1.46
1.55
1.63
1.68
1.94
2.33
2.55
2.36
2.57
2.57
Tangible Book Value per Share
396
418
419
419
419
419
419
425
426
426
426
426
426
428
429
429
429
Basic Weighted Avg Shares
679
751
767
923
918
871
870
891
886
1,147
1,048
1,600
1,874
1,419
1,474
1,701
- -
Sales/Revenue/Turnover
1.5
3.79
1.59
0.7
2.92
5.16
8.17
7.9
8.13
5.43
5.46
9.55
13.96
8.05
5.6
8.05
- -
Operating Margin (%)
31
41
40
41
34
29
30
29
32
55
75
81
90
87
95
112
- -
Depreciation Expense
6
21
9
7
33
53
72
77
63
58
46
128
195
118
57
118
- -
Net Income, GAAP
50.5
17.28
38.81
39.1
15.39
8.34
10.3
5.09
4.02
13.11
7.07
20.74
14.97
27.86
38.93
22.95
- -
Effective Tax Rate (%)
0.84
2.82
1.13
0.8
3.6
6.03
8.23
8.67
7.06
5.08
4.38
8
10.42
8.31
3.87
6.96
- -
Profit Margin (%)
359
345
305
267
276
286
345
296
234
236
276
354
466
513
343
460
460
Working Capital
- -
- -
- -
- -
- -
- -
- -
- -
1
16
27
24
69
48
46
31
31
LT Debt
489
499
491
490
514
551
605
674
714
756
788
902
1,069
1,161
1,179
1,284
1,284
Total Equity
1.05
4.53
1.65
1.27
5.34
8.43
11.51
10.91
9.51
6.99
5.42
12.14
16.91
9.71
4.81
9.03
- -
Return on Invested Capital (%)
1.18
4.87
2.28
1.99
6.91
9.42
10.83
10.23
7.02
6.39
4.78
10.66
14.55
8.64
4.35
8.31
- -
Return on Capital (%)
1.21
4.31
1.75
1.5
6.55
9.79
12.33
12.13
9.1
8.04
6.07
15.55
20.53
11.04
5.12
10.16
- -
Return on Common Equity (%)

Capital Structure

HKD

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
ST Debt
214
209
158
LT Borrowings
- -
- -
- -
LT Finance Leases
46
47
31
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
429
429
429
Market Capitalization
700
601
545

Working Capital

HKD

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
Total Current Assets
1,005
1,032
1,074
Cash, Cash Equivalents & STI
215
261
217
Accounts Receivable, Net
376
402
432
Inventories
396
351
399
Total Current Liabilities
662
637
614
Payables & Accruals
- -
- -
- -
ST Debt
214
209
158
Deferred Revenue
- -
- -
- -

Growth Rates

HKD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
8.93%
10.4%
8.88%
Free Cash Flow
24.16%
-83.36%
-366.22%
Net Income, GAAP
24.49%
49.59%
107.57%
Sales/Revenue/Turnover
8.74%
12.96%
15.37%
Total Cash Common Dividend
- -
13.11%
-11.12%

Semi-annual Revenue

HKD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
1,419
2024
- -
- -
1,474
2025
- -
- -
1,701

Semi-annual Earnings Per Share

HKD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
0.28
2024
- -
- -
0.13
2025
- -
- -
0.28

Semi-annual Dividends Per Share

HKD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
0.09
2024
- -
- -
0.09
2025
- -
- -
0.08
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Business
Mainland Headwear Holdings Limited, an investment holding company founded in 1986 and headquartered in Kowloon Bay, Hong Kong, primarily engages in the design, manufacture, trading, and distribution of casual headwear and accessories worldwide. The company operates through Manufacturing and Trading segments, producing licensed and fashion headwear such as baseball caps, bucket hats, knitted hats, Gatsby hats, dress hats, headbands, and sun visors at facilities in Bangladesh, Mexico, and the People's Republic of China (PRC); it also trades headwear, apparel, small leather goods, bags, belts, and accessories via subsidiaries including H3 Sportgear LLC and San Diego Hat Co. in the USA, Aquarius Ltd., Drew Pearson International (Europe) Ltd. in Europe, and the recently acquired Dutch company Difuzed B.V. serving Europe, the Middle East, and Africa. Products target global retailers in the United States, Europe, PRC, Hong Kong, and other international markets, with approximately 8,200 employees supporting operations. Recent developments include the completion of a new plant in Bangladesh and staged production commencement at a new Mexico factory in 2023, acquisition of Difuzed B.V. to bolster licensed product trading and expand into emerging markets, preparation for a Cambodia production line targeting 10 million pieces annually in 2025, and plans for a duty-free zone warehouse in Mexico alongside Shenzhen's transformation into a cross-border e-commerce park; for the six months ended 30 June 2025, revenue rose 23.1% year-on-year to HK$845.6 million, driven by manufacturing growth amid US tariff adjustments and trading integration efforts.