Bonny International Holding Limited

Bonny International Holding Limited

HHKEX:1906
1.20
HKD
-0.08
(-6.25%)
691.43MMarket Cap
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
0.26
0.25
0.26
0.24
0.22
0.19
0.13
0.14
0.2
0.16
- -
Basic EPS, GAAP
0.02
0.01
0.02
-0.01
0.04
-0.01
-0.06
-0.04
-0.01
-0.04
- -
Free Cash Flow per Basic Share
0.03
0.02
- -
-0.07
-0.03
-0.04
-0.01
-0.01
-0.04
-0.02
- -
Dividend per Share
- -
0.04
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
0.12
-0.02
0.13
0.23
0.27
0.27
0.23
0.24
0.24
0.2
0.2
Tangible Book Value per Share
0.1
-0.04
0.11
0.21
0.25
0.27
0.23
0.24
0.24
0.2
0.2
Basic Weighted Avg Shares
1,279
1,279
1,279
1,179
1,279
1,279
1,279
1,279
1,310
1,471
1,471
Sales/Revenue/Turnover
327
315
334
284
288
249
161
178
267
232
- -
Operating Margin (%)
8.99
10.45
17.47
3.53
16.75
-5.36
-21.4
-12.66
3.07
-1.43
- -
Depreciation Expense
17
15
15
17
21
16
18
16
15
15
- -
Net Income, GAAP
19
18
27
-12
48
-7
-71
-45
-17
-57
- -
Effective Tax Rate (%)
9.8
11.7
13.07
- -
11.33
- -
- -
- -
- -
- -
- -
Profit Margin (%)
5.9
5.85
8
-4.29
16.78
-2.63
-44.08
-25.48
-6.27
-24.5
- -
Working Capital
-43
-220
-53
9
78
75
-26
-59
-60
-74
-74
LT Debt
- -
- -
4
1
- -
85
84
43
56
89
89
Total Equity
160
-22
171
298
346
346
290
313
356
298
298
Return on Invested Capital (%)
- -
9.18
15.08
- -
17.31
- -
- -
- -
- -
- -
- -
Return on Capital (%)
- -
9.34
11.71
- -
11.53
- -
- -
- -
- -
- -
- -
Return on Common Equity (%)
- -
- -
- -
-5.22
15.05
-1.9
-22.39
-15.08
-5.02
-17.44
- -

Capital Structure

CNY

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
ST Debt
112
111
138
LT Borrowings
54
- -
88
LT Finance Leases
2
- -
2
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,471
1,471
1,471
Market Capitalization
380
443
621

Working Capital

CNY

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
Total Current Assets
155
130
143
Cash, Cash Equivalents & STI
8
8
21
Accounts Receivable, Net
46
36
40
Inventories
92
62
63
Total Current Liabilities
215
193
217
Payables & Accruals
- -
- -
- -
ST Debt
112
111
138
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
- -
-16.18%
Free Cash Flow
- -
123.81%
-52.47%
Net Income, GAAP
- -
202%
239.45%
Sales/Revenue/Turnover
- -
-0.28%
-13.08%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

CNY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
178
2024
- -
- -
267
2025
- -
- -
232

Semi-annual Earnings Per Share

CNY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
-0.04
2024
- -
- -
-0.01
2025
- -
- -
-0.04

Semi-annual Dividends Per Share

CNY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
- -
2024
- -
- -
- -
2025
- -
- -
- -

Company Description

CEO
Guo Jun Jin
Full Time Employees
709
Sector
Consumer non-durables
Industry
Apparel/Footwear
Address
157 Johnston Road Yiwu City China
IPO Date
Apr 26, 2019
Business
Bonny International Holding Limited engages primarily in the design, research, development, production, and sale of intimate wear products. The company operates through two main segments: Original Design Manufacture (ODM) Products and Brand Products. The ODM segment focuses on manufacturing and selling seamless underwear and other ODM intimate wear products to overseas customers or their agents. The Brand Products segment produces and markets ladies' brassieres, panties, thermal underwear, and functional sportswear under the "Bonny" and "U+Bonny" brand names. Bonny International is recognized as the third largest seamless underwear manufacturer in China, operating over 200 seamless circular knitting machines sourced from Santoni, a global leader in seamless garment machinery. Its product portfolio includes high-end underwear, sportswear, homewear, pajamas, and thermal clothing. The company's sales and distribution encompass self-operated and franchised retail outlets across multiple provinces in China and it exports to more than 20 countries including the United States, Germany, the Netherlands, Mexico, Korea, Canada, and the United Kingdom. Founded in 2017, Bonny International is headquartered in Hong Kong. In recent years, Bonny International has undergone key strategic developments including expanding and strengthening its franchise business particularly in second- and third-tier cities in China while enhancing e-commerce brand presence to elevate its market position domestically. The company has focused on broadening its product lines to include sports and functional underwear to meet diversified consumer demands. Financially, the company faced challenges in the first half of 2025 with profit declines attributed to international trade tensions and weak market conditions which slowed both the ODM and brand businesses. Despite this, Bonny International continues to pursue collaborations with renowned international underwear brands to sustain and grow its export business. Governance updates include board changes, with new appointments to the board reported in mid-2025. Bonny International’s strategic orientation remains focused on leveraging its advanced seamless garment technology and expanding its brand influence on the domestic and international markets. Overall, Bonny International Holding Limited stands as a leading global manufacturer in seamless underwear and intimate wear, leveraging proprietary manufacturing technology, a diversified brand portfolio, and a combined domestic and international sales network to compete in the global intimate apparel industry.