Come Sure Group (Holdings) Limited released audited results for the year ended 31 March 2026, recording a net loss attributable to shareholders of HK$6.81 million, reversing the prior year’s HK$2.25 million profit. Basic and diluted loss per share stood at HK$2.06 cents versus earnings of HK$0.68 cents in FY25.
Revenue slipped 2.4 % to HK$742.20 million (FY25: HK$760.44 million) as demand in China’s paper-based packaging sector remained subdued. Paper-based packaging contributed 98.4 % of turnover, while property leasing generated HK$12.09 million.
Gross profit eased 2.0 % to HK$139.25 million, yet the gross margin held firm at 18.8 % (FY25: 18.7 %), reflecting a higher share of printed corrugated packaging and ongoing cost controls. Segment-wise, corrugated products earned HK$14.94 million, offset-printed corrugated products HK$5.49 million and property leasing HK$6.06 million; corporate costs and other items pushed the Group into loss.
Key non-operating movements weighed on the bottom line: • Other income fell to HK$5.36 million (FY25: HK$13.48 million) after the absence of prior-year relocation compensation and lower VAT refunds. • Other gains and losses swung to a HK$5.57 million loss (FY25: HK$2.22 million gain), driven by a HK$4.34 million fair-value drop in investment properties and a HK$1.76 million exchange loss amid Renminbi appreciation. • Finance costs declined 22.6 % to HK$16.59 million, reflecting reduced lease-liability interest and lower borrowing costs.
The Group’s associate in Thailand contributed a HK$3.21 million profit, versus a HK$1.50 million loss a year earlier, following the plant’s ramp-up in December 2024.
Balance-sheet indicators remained stable. At 31 March 2026, cash and pledged deposits totalled HK$125.82 million and net assets were HK$516.02 million. The current ratio edged up to 1.24 (FY25: 1.23), while the gearing ratio (total borrowings/total assets) increased to 12.9 % (FY25: 11.5 %). Outstanding bank borrowings were HK$128.81 million, all secured.
Working-capital metrics showed trade-and-bills receivable days at 119 (FY25: 109), inventory days at 25 (FY25: 27) and trade-and-bills payable days steady at 120, resulting in a cash-conversion cycle of 24 days (FY25: 16 days).
The Board proposed no final dividend for FY26.
Subsequent to year-end, an indirect subsidiary agreed on 12 June 2026 to sell certain corrugated-packaging machinery to an associate for RMB6.30 million (approximately HK$7.16 million); the transaction qualifies as a discloseable transaction under Hong Kong listing rules.