Chinese/HK maker of lace fabric and dyeing services for lingerie, plus a casual and sports footwear business.
Chinese/HK maker of lace fabric and dyeing services for lingerie, plus a casual and sports footwear business.
Moat: none (scale). Commodity textile/footwear OEM work; customers can resource lace and footwear orders elsewhere.
Headquarters: Putian, China · Founded: 2002 · Employees: 485
Size Star Shine (1440.HK) is a Hong Kong Consumer Discretionary company (Apparel/Footwear) with a market value of $2.85B, the 347th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$17.76 on 6 Nov 2026.
Performance Over six months the shares gained 34.0%, against +1.8% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue fell 33.3% over the last twelve months (peer median +4.1%); the operating margin is -2.8% (peer median 9.1%).
Valuation It trades at 51.3× enterprise value to sales against a peer median of 1.1× (most expensive of 21).
Capital Return on invested capital runs 25.1 points below its cost of capital (8.3% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$432M | HK$557M | HK$634M | HK$351M | HK$156M |
| Revenue growth | — | -12% | +81% | +125% | — |
| Gross profit | HK$59.7M | HK$53.3M | HK$59.2M | HK$25.0M | -HK$5.51M |
| EBITDA | HK$5.26M | -HK$9.09M | -HK$1.80M | HK$6.22M | -HK$3.20M |
| Net income | -HK$55.3M | -HK$107M | -HK$13.8M | -HK$11.2M | -HK$10.4M |
| Free cash flow | -HK$5.05M | -HK$23.4M | -HK$11.5M | HK$49.3M | HK$6.51M |
| Capital expenditure | HK$2.98M | HK$7.16M | HK$1.80M | HK$1.79M | HK$12.4M |
| Total debt | n/a | HK$116M | HK$62.6M | HK$44.8M | HK$0 |
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| Measure | 1440.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -11.2% | +6.6% | lowest of 21 |
| 6-month return | +34.0% | +1.8% | 4th highest of 21 |
| Distance from 52-week high | -24.4% | -14.7% | 7th lowest of 21 |
| Revenue growth (TTM) | -33.3% | +4.1% | lowest of 21 |
| Operating margin | -2.8% | 9.1% | lowest of 21 |
| EV / Sales | 51.3× | 1.1× | most expensive of 21 |
| ROIC minus cost of capital | -25.1 pp | +7.2 pp | lowest of 21 |
| Net debt / EBITDA | -38.4× | 0.4× | least indebted of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Star Shine 1440.HK | Hong Kong | $2.85B | +34% | -33% | -3% | 51.3× | n/a | n/a |
| Eclat Textile 1476.TW | Taiwan | $2.88B | +3% | 0% | 20% | 2.1× | -8.9% | +6.2% |
| Steven Madden SHOO | United States | $2.89B | -3% | +18% | 9% | 1.2× | 5.9% | +16.1% |
| Hugo Boss BOSS.DE | Germany | $2.90B | +8% | -5% | 8% | 0.8× | -6.6% | +17.0% |
| Crystal International 2232.HK | Hong Kong | $2.92B | +23% | +4% | 10% | 0.9× | -5.3% | +6.0% |
| Yue Yuen Industrial (Holdings) 0551.HK | Hong Kong | $2.75B | -7% | -3% | 3% | 0.5× | 2.4% | -0.9% |
| FIGS FIGS | United States | $3.29B | +37% | +25% | 10% | 4.3× | 25.5% | +19.1% |
| BIEM.L.FDLKK Garment 002832.SZ | China | $2.46B | +42% | +23% | 15% | 2.9× | 0.0% | +13.3% |
| Zhejiang Semir Garment 002563.SZ | China | $2.42B | -1% | +4% | 7% | 0.8× | -8.1% | -0.1% |
| Pou Chen 9904.TW | Taiwan | $2.29B | 0% | -7% | 3% | 0.8× | 5.9% | +0.1% |
| Youngone 111770.KS | South Korea | $2.27B | -13% | +15% | 14% | 0.5× | n/a | n/a |
| Columbia Sportswear COLM | United States | $3.61B | +12% | 0% | 8% | 1.1× | 4.6% | +6.3% |
| Under Armour UA | United States | $2.23B | -19% | -3% | 1% | 0.7× | n/a | n/a |
| Mizuno 8022.T | Japan | $2.10B | +27% | +10% | 9% | 1.1× | 4.9% | +11.5% |
| Feng Tay Enterprise 9910.TW | Taiwan | $2.08B | 0% | -4% | 7% | 0.9× | -5.9% | +3.9% |
| PVH PVH | United States | $4.15B | +1% | +2% | 8% | 0.8× | 2.5% | +4.6% |
| K.P.R. Mill KPRMILL.NS | India | $4.21B | +19% | +6% | 18% | 5.3× | 29.9% | +13.3% |
| Kontoor Brands KTB | United States | $4.21B | +5% | +16% | 13% | 1.8× | 1.1% | +8.5% |
| Goldwin 8111.T | Japan | $1.93B | -1% | +4% | 18% | 1.8× | -6.3% | +8.7% |
| Page Industries PAGEIND.NS | India | $4.22B | -4% | +8% | 19% | 7.5× | 27.7% | +13.1% |
| Vestis VSTS | United States | $1.88B | +54% | 0% | 4% | 1.2× | 15.8% | +1.3% |