Neo-Concept International Group Holdings Limited (NCI) Income Statement
NCI 2025 at a glance
Fiscal year ended December 31, 2025 · Hong Kong dollarsNCI revenue and net income
Where NCI's revenue goes
2025Each bar shows an amount and its share of revenue. NCI kept 0.2% of revenue as net income.
NCI profit margins
NCI growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −41.8% | −26.6% | −5.5% | — |
| Gross profit | +2.5% | +6.6% | +34.2% | — |
| Operating income | −84.4% | −54.3% | — | — |
| Net income | −95.9% | −70.1% | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
NCI income statement in Hong Kong dollars
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Revenue | HK$137.2M | HK$235.7M | HK$174.2M | HK$347.5M | HK$240.5M | HK$182.6M |
| Cost of revenue | HK$86.6M | HK$186.2M | HK$139.2M | HK$305.6M | HK$217.9M | HK$170.9M |
| Gross profit | HK$50.7M | HK$49.4M | HK$35.0M | HK$41.8M | HK$22.6M | HK$11.7M |
| Sales, general & admin | HK$46.8M | HK$30.6M | HK$21.4M | HK$22.8M | HK$14.7M | HK$14.6M |
| Total operating expenses | HK$48.9M | HK$37.9M | HK$26.0M | HK$22.9M | HK$12.9M | HK$15.3M |
| Operating income | HK$1.8M | HK$11.6M | HK$9.0M | HK$18.9M | HK$9.7M | −HK$3.7M |
| Interest income | HK$0 | HK$31,954 | HK$92,951 | HK$1 | HK$1 | HK$0 |
| Interest expense | HK$1.3M | HK$3.8M | HK$5.8M | HK$6.1M | HK$2.5M | HK$2.9M |
| Income before taxes | HK$1.8M | HK$9.1M | HK$5.7M | HK$15.4M | HK$7.2M | −HK$3.2M |
| Income taxes | HK$1.4M | HK$1.1M | HK$1.3M | HK$3.0M | HK$1.7M | HK$133,476 |
| Net income | HK$331,679 | HK$8.1M | HK$4.4M | HK$12.4M | HK$5.5M | −HK$3.3M |
| EBITDA | HK$7.4M | HK$15.1M | HK$14.9M | HK$21.7M | HK$10.0M | −HK$4,936 |
| Gross margin | 36.9% | 21.0% | 20.1% | 12.0% | 9.4% | 6.4% |
| Operating margin | 1.3% | 4.9% | 5.2% | 5.4% | 4.0% | −2.0% |
| Net margin | 0.2% | 3.4% | 2.5% | 3.6% | 2.3% | −1.8% |
| Mar '26 | Sep '25 | Jun '25 | Mar '25 | Sep '24 | Jun '24 | Mar '24 | Sep '23 | Jun '23 | Mar '23 | Dec '22 | Sep '22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$76.8M | HK$38.5M | HK$60.7M | HK$30.1M | HK$78.2M | HK$79.2M | HK$39.6M | HK$48.1M | HK$39.0M | HK$39.0M | HK$77.6M | HK$77.6M |
| Cost of revenue | HK$54.2M | HK$26.1M | HK$36.8M | HK$17.2M | HK$61.7M | HK$62.8M | HK$31.4M | HK$36.7M | HK$32.9M | HK$32.9M | HK$69.2M | HK$69.2M |
| Gross profit | HK$22.7M | HK$12.4M | HK$23.9M | HK$12.9M | HK$16.5M | HK$16.3M | HK$8.2M | HK$11.4M | HK$6.1M | HK$6.1M | HK$8.4M | HK$8.4M |
| Sales, general & admin | — | HK$11.6M | — | HK$4.8M | HK$3.5M | — | HK$2.6M | HK$4.8M | HK$5.5M | HK$5.5M | HK$2.9M | HK$2.8M |
| Total operating expenses | HK$23.1M | HK$12.7M | HK$21.6M | HK$11.8M | HK$11.0M | HK$15.9M | HK$7.9M | HK$6.1M | HK$6.9M | HK$6.9M | HK$6.1M | HK$6.1M |
| Operating income | −HK$453,617 | −HK$227,293 | HK$2.3M | HK$1.1M | HK$5.5M | HK$486,144 | HK$243,355 | HK$5.4M | −HK$844,600 | −HK$844,600 | HK$2.3M | HK$2.3M |
| Interest expense | HK$725,802 | HK$363,674 | HK$626,663 | HK$366,651 | — | HK$1.5M | — | — | — | — | — | — |
| Income before taxes | −HK$1.1M | −HK$571,773 | HK$2.9M | HK$1.5M | HK$3.9M | HK$1.4M | HK$706,304 | HK$5.5M | −HK$2.6M | −HK$2.6M | HK$1.6M | HK$1.6M |
| Income taxes | HK$559,843 | HK$280,522 | HK$892,027 | HK$442,794 | HK$542,955 | — | HK$662,568 | HK$662,569 | — | — | HK$266,715 | HK$266,714 |
| Net income | −HK$1.7M | −HK$852,294 | HK$2.1M | HK$833,855 | HK$3.3M | HK$1.4M | HK$706,304 | HK$4.8M | −HK$2.6M | −HK$2.6M | HK$1.4M | HK$1.4M |
| EBITDA | HK$1.7M | HK$857,902 | HK$5.6M | HK$2.2M | HK$6.5M | HK$2.9M | HK$381,376 | HK$5.4M | −HK$799,289 | −HK$799,289 | HK$2.4M | HK$2.3M |
| Gross margin | 29.5% | 32.3% | 39.4% | 42.8% | 21.2% | 20.6% | 20.6% | 23.8% | 15.6% | 15.6% | 10.9% | 10.9% |
| Operating margin | −0.6% | −0.6% | 3.8% | 3.8% | 7.1% | 0.6% | 0.6% | 11.1% | −2.2% | −2.2% | 3.0% | 3.0% |
| Net margin | −2.2% | −2.2% | 3.4% | 2.8% | 4.3% | 1.8% | 1.8% | 10.0% | −6.6% | −6.6% | 1.8% | 1.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in Hong Kong dollars as reported in NCI's financial statements (latest annual report filed April 30, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
NCI financial results
In fiscal year 2025 (ended December 31, 2025), Neo-Concept International reported revenue of HK$137.2 million, down 41.8% from the year before. It had net income of HK$0.3 million (down 95.9%), a net profit margin of 0.2%. Over five years revenue grew at an average rate of −5.5% a year. Figures are in Hong Kong dollars, the currency of its financial statements.
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NCI income statement FAQ
What is Neo-Concept International's annual revenue?
Neo-Concept International reported total revenue of HK$137.2 million for fiscal year 2025, which ended on December 31, 2025. That was down 41.8% from HK$235.7 million the previous year.
Is Neo-Concept International profitable?
Yes. Neo-Concept International reported net income of HK$0.3 million in fiscal 2025, a net profit margin of 0.2%; its operating margin was 1.3%.
What is Neo-Concept International's gross margin?
Neo-Concept International's gross margin was 36.9% in fiscal 2025: for every $100 of revenue, Neo-Concept International kept $37 after the direct cost of its products and services.
How fast is Neo-Concept International growing?
Revenue grew −5.5% a year on average over the last five fiscal years, from HK$182.6 million to HK$137.2 million.
When does Neo-Concept International's fiscal year end?
Neo-Concept International's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 30, 2026.