E. Bon Holdings Limited Issues Significant Profit Warning for FY2026
E. Bon Holdings Limited (Stock Code: 599) has issued a profit warning, alerting shareholders and potential investors to a substantial increase in its anticipated loss before tax for the financial year ended 31 March 2026. The company expects its loss before tax to widen to a range of approximately HK\$23.0 million to HK\$25.0 million, compared to HK\$11.9 million in the previous year. This announcement is made in accordance with the Hong Kong Stock Exchange Listing Rules and Inside Information Provisions.
Key Financial Highlights
- Expected Loss Before Tax: The Group forecasts a loss before tax of HK\$23.0 million to HK\$25.0 million for FY2026, which is an increase of HK\$11.1 million (93.7%) to HK\$13.1 million (110.5%) over the previous year.
- Major Contributing Factors:
- Non-Cash Impact from Property Revaluation: The main driver behind the increased loss is a total non-cash impact of approximately HK\$17.8 million, stemming from a revaluation loss of around HK\$12.3 million and related depreciation of HK\$5.5 million. By comparison, last year saw a fair value loss of HK\$13.3 million and associated depreciation of HK\$6.1 million.
- Revenue Decline: Revenue fell sharply by 25.7% to HK\$340.1 million from HK\$457.8 million last year, reflecting continued weak market demand and fewer project orders.
- Gross Profit: Gross profit decreased by 19.8% to HK\$128.4 million, although the gross profit margin saw a slight improvement compared to the previous year.
- Cost Controls: The company managed to control operating expenses through ongoing cost measures, partially offsetting the negative effects of the lower gross profit.
- Underlying Performance: Excluding the non-cash revaluation impact, the underlying loss before tax would have been around HK\$4.9 million, compared to an underlying profit of HK\$7.6 million last year.
Market Environment and Outlook
- Weak Market Demand: The drop in revenue and gross profit is attributed to a persistently soft market, with fewer project orders and continued cautious customer spending.
- Hong Kong Property Market Recovery: While the property market in Hong Kong has shown signs of recovery in early 2026, this has been driven mainly by investment-oriented transactions, not by renovation or project-based demand relevant to E. Bon’s business.
- RMB Appreciation: The renminbi appreciated by approximately 5.2% against the Hong Kong dollar over the past six months, making Hong Kong assets more attractive to Mainland investors and spurring investment activity. However, this has not yet translated into more project-based demand for the Group.
- Government Policy: The Hong Kong Government’s relaxation of property purchase stamp duties has further encouraged investment, especially from Mainland buyers, but again, not in a way that benefits E. Bon’s core operations.
- Continued Risks: These external factors are expected to keep pressure on the Group’s sales performance and may affect future financial results.
Board Statement and Caution to Investors
The Board has deemed it necessary to issue this profit warning due to the significant deterioration in the Group’s expected results compared to last year. It is important to note that the financial information provided is based on preliminary unaudited management accounts and may differ from the final audited figures to be announced in June 2026.
Shareholders and potential investors are advised to exercise caution when dealing in shares of the Company, as these developments may have a material impact on the company’s share price.
Board Composition
- Chairman: Tse Sun Fat, Henry
- Other Executive Directors: Tse Sun Wai, Albert; Tse Sun Po, Tony; Tse Hon Kit, Kevin; Lau Shiu Sun
- Independent Non-Executive Directors: Wong Wah, Dominic; Wan Sze Chung; Dr. Luk Wang Kwong; Ms. Man Yuk Fan
Disclaimer: This article is based on preliminary unaudited financial information and forward-looking statements issued by E. Bon Holdings Limited. Actual results may differ. This article does not constitute investment advice. Readers should exercise caution and consult their own professional advisers before making investment decisions.
依邦控股有限公司（E. Bon Holdings）發佈重大盈警，2026財年虧損大幅擴大
依邦控股有限公司（股份代號：599）發出盈警，警示股東及潛在投資者，截至2026年3月31日止財政年度之除稅前虧損預計將大幅擴大至約港幣2,300萬元至2,500萬元，對比去年同期虧損港幣1,190萬元，增幅顯著。本公告根據香港聯交所上市規則及內幕消息條文發出。
財務重點摘要
- 預期除稅前虧損： 集團預計2026財年除稅前虧損為港幣2,300萬元至2,500萬元，較去年增加港幣1,110萬元（93.7%）至港幣1,310萬元（110.5%）。
- 主要虧損原因：
- 自用物業重估之非現金影響： 主要來自約港幣1,780萬元的非現金損失，包括約港幣1,230萬元的重估損失及港幣550萬元的相關折舊。相比上年度，分別為港幣1,330萬元及610萬元。
- 收入顯著下滑： 收入按年大跌25.7%，由去年港幣4.578億元減至今年港幣3.401億元，乃因市場需求疲弱及項目訂單減少。
- 毛利： 毛利下跌19.8%至港幣1.284億元，雖然毛利率略有改善。
- 成本控制： 透過持續成本控制措施，有效管理營運開支，部分抵銷毛利下降的負面影響。
- 基礎業績： 如撇除非現金重估影響，基礎除稅前虧損約港幣490萬元，而去年同期為盈利約港幣760萬元。
市場環境及前景
- 市場需求疲弱： 收入及毛利下滑主因是市場持續疲弱、項目訂單減少及客戶消費謹慎。
- 香港樓市回暖： 2026年首季樓市回暖主要由投資型成交帶動，並未惠及依邦核心裝修及項目業務。
- 人民幣升值： 人民幣於過去六個月兌港元升值約5.2%，吸引內地投資者入市，惟對依邦裝修產品需求未見明顯拉動。
- 政府政策： 政府去年放寬印花稅，雖促進內地買家投資，但暫未轉化為集團項目需求。
- 持續風險： 外部因素預計會持續壓力集團銷售表現，未來財務結果或受影響。
董事會聲明及投資者警示
董事會認為，有必要發出盈警，因預期今年業績較去年大幅下滑。需留意，以上數據來自初步未經審核管理賬目，最終經審核業績將於2026年6月公佈，或有出入。
公司股東及潛在投資者應審慎處理公司股份，上述情況或對公司股價構成重大影響。
董事會組成
- 主席：謝新發
- 其他執行董事：謝新偉、謝新寶、謝漢傑、劉紹新
- 獨立非執行董事：黃華、溫思聰、陸宏光博士、文玉芬女士
免責聲明： 本文內容基於依邦控股有限公司初步未經審核財務資料及前瞻性聲明，實際結果或有差異。本文不構成任何投資建議，投資者應自行審慎判斷並諮詢專業顧問。
