Tse Sui Luen Jewellery (International) Ltd

Tse Sui Luen Jewellery (International) Ltd

HHKEX:417
0.67
HKD
+0.04
(+5.51%)
164.46MMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
14.52
16.53
15.77
14.42
13.9
16.4
11.71
10.63
11.11
10.4
10.65
6.87
6.74
- -
Basic EPS, GAAP
0.28
0.3
0.16
0.1
0.09
0.22
-0.36
-0.18
0.06
-0.29
-1.5
-0.79
0.46
- -
Free Cash Flow per Basic Share
-0.06
-0.93
0.64
0.5
0.67
0.73
0.77
1.36
1.02
-0.17
0.27
0.84
0.34
- -
Dividend per Share
0.12
0.08
0.07
0.04
0.04
0.11
0.05
- -
- -
0.02
- -
- -
- -
- -
Book Value per Share
4.03
4.36
4.46
4.2
3.97
4.37
3.61
3.78
4.21
3.59
2.22
1.42
2.06
2.06
Tangible Book Value per Share
4.03
4.36
4.46
4.2
3.97
4.37
3.3
3.47
3.9
3.21
1.87
1.09
1.83
1.83
Basic Weighted Avg Shares
245
245
245
245
245
248
249
249
249
249
249
249
249
249
Sales/Revenue/Turnover
3,563
4,057
3,871
3,539
3,411
4,065
2,914
2,649
2,768
2,591
2,655
1,712
1,679
- -
Operating Margin (%)
3.88
3.67
3.14
3.09
3.3
3.75
0.22
1.52
3.12
-0.19
-10.23
-5.48
7.36
- -
Depreciation Expense
55
48
53
62
60
58
259
211
156
155
142
82
21
- -
Net Income, GAAP
68
75
40
24
23
54
-90
-44
16
-71
-374
-198
114
- -
Effective Tax Rate (%)
28.4
26.66
37.07
48.57
55.28
45.53
- -
- -
74.52
- -
- -
- -
10.63
- -
Profit Margin (%)
1.91
1.84
1.03
0.67
0.68
1.33
-3.08
-1.66
0.56
-2.76
-14.1
-11.55
6.81
- -
Working Capital
1,097
1,178
1,220
1,102
1,469
827
1,078
1,116
765
1,088
639
79
646
646
LT Debt
257
279
307
336
710
- -
652
463
61
661
535
69
543
543
Total Equity
989
1,070
1,094
1,031
974
1,086
900
942
1,048
893
553
353
513
513
Return on Invested Capital (%)
6.8
6.26
3.87
2.7
2.51
4.19
- -
- -
1.19
- -
- -
- -
12.76
- -
Return on Capital (%)
6.93
6.32
3.92
2.71
2.51
3.92
- -
- -
1.14
- -
- -
- -
12.39
- -
Return on Common Equity (%)
7.07
7.24
3.67
2.22
2.31
5.26
-9.03
-4.77
1.56
-7.35
-51.69
-43.57
26.37
- -

Capital Structure

HKD

•

in mil. unless spec.
Mar'25
Sep'26
Mar'26
ST Debt
738
654
156
LT Borrowings
43
52
516
LT Finance Leases
25
15
28
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
249
249
249
Market Capitalization
174
341
164

Working Capital

HKD

•

in mil. unless spec.
Mar'25
Sep'26
Mar'26
Total Current Assets
1,315
1,211
1,201
Cash, Cash Equivalents & STI
129
89
83
Accounts Receivable, Net
38
23
27
Inventories
1,044
1,052
1,051
Total Current Liabilities
1,236
1,139
555
Payables & Accruals
- -
- -
- -
ST Debt
738
654
156
Deferred Revenue
- -
- -
- -

Growth Rates

HKD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-4.49%
-6.52%
45.11%
Free Cash Flow
-14.78%
-50.46%
-60.21%
Net Income, GAAP
-70.13%
-95.21%
-157.85%
Sales/Revenue/Turnover
-6.73%
-7.37%
-1.93%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

HKD

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
2,655
2025
- -
- -
1,712
2026
- -
- -
1,679

Semi-annual Earnings Per Share

HKD

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
-1.5
2025
- -
- -
-0.79
2026
- -
- -
0.46

Semi-annual Dividends Per Share

HKD

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
- -
2025
- -
- -
- -
2026
- -
- -
- -

Company Description

CEO
On Yee Yau
Full Time Employees
898
Sector
Consumer durables
Industry
Other consumer specialties
Address
Summit Building Hong Kong Hong Kong
IPO Date
Jun 30, 1987
Website
tslj.com
Business
Tse Sui Luen Jewellery (International) Limited is a Hong Kong-based investment holding company principally engaged in the design, manufacture, retail, wholesale, and marketing of jewelry products. The company offers a comprehensive range of fine jewelry including rings, necklaces, pendants, earrings, bangles, bracelets, diamond and colored gemstone timepieces, cufflinks, and wedding jewelry such as engagement rings, bridal sets, and wedding bands. Tse Sui Luen markets various brands including Estrella, Saxx, Snoopy, Atelier, Moments of Love, Love Sonata, Aura, Amazon, Eclipse, and Farfalla among others. Its business segments include retail, wholesale, e-business, and other services, with a network spanning Hong Kong, Macau, Mainland China, Malaysia, and Southeast Asia. Tse Sui Luen operates over 400 jewelry boutiques with a mix of self-operated and franchised stores and also engages in property holding and investment. Founded in 1971 and headquartered in Hong Kong, the company was listed on the Hong Kong Stock Exchange in 1987. Recent strategic changes focus on operational efficiency and business transformation in response to challenges such as weak demand and gold price volatility. Tse Sui Luen has implemented cost-saving measures including closing loss-making and non-performing retail stores in Hong Kong and Mainland China while expanding its franchised store network in Mainland China. The company is shifting product assortment toward 24-karat gold jewelry and improving inventory management to balance 24-karat gold and gem-set pieces. It continues to develop its e-commerce platforms and strengthen partnerships with popular online sales channels in Mainland China. Additionally, Tse Sui Luen secured a three-year extension of HK$496 million banking facilities to enhance financial flexibility. Despite a decline in turnover and increased operational losses in the first half of 2025, the company aims to achieve a sustainable and profitable business model through product innovation, store network optimization, and market expansion efforts. This combination of traditional retail presence, growing franchising, and digital commerce reflects Tse Sui Luen Jewellery's commitment to adapting to market dynamics while maintaining its reputation for craftsmanship and high-quality jewelry products.