The Board of Directors of Symphony Holdings Limited (Group), the Hong Kong-based owner of the Skins apparel brand and a wide range of retail mall assets in China, reported this week that the pace of global economic recovery in the 2026 first half varied across regions, and the PRC (People’s Republic of China) economy sustained a moderate recovery trajectory amid structural adjustments.

“The consumer market maintained overall stable operations, led by outstanding performance in the service retail sector,” the Board noted in its interim (first half, H1) earnings report for the year. “In response to continuously evolving market demand, the Group adhered to a prudent and sound operation strategy, focusing on business portfolio optimization and digital transformation. Leveraging its inherent resilience and strong execution capabilities, the Group achieved high-quality and steady growth.”

Symphony Holdings Limited reports in the Hong Kong dollar (HK$) currency. Conversions to the U.S. dollar ($), where indicated, were calculated at 1 HK$ = 0.1276 U.S. dollars, the average conversion rate for the 2026 first half period as published by Wise.com.

First Half 2026 Summary
The Group’s overall revenue increased ~16.8 percent year-over-year (y/y) to approximately HK$173.1 million (~$xxx mm).

Revenue from the PRC, Hong Kong and other Asian countries comprised ~94.9 percent of revenue in the first half, compared to ~95.2 percent in the year-ago H1 period. The 5.1 percent (2025 H1: 4.8 percent) balance is split between the U.S. and other countries.

The Group reported an unaudited consolidated loss of approximately HK$10.3 million (~$xxx mm) for the first half as compared with an unaudited consolidated loss of approximately HK$12.8 million for the 2025 H1 period.

Total comprehensive income attributable to owners of the company amounted to approximately HK$70.2 million (~$xxx mm) for the first half as compared with approximately HK$45.4 million for the 2025 H1 period.

The Group’s net asset value increased from approximately HK$2,362.3 million at 2025 year-end to approximately HK$2,417.4 million (~$xxx mm) as at 30 June 2026.

Branding Business
The company said the compression sportswear brand Skins continued to optimize its competitive strength during the first half.

In the health care business, leveraging on the comprehensive product system built up with over 100 self-owned and cooperated brands, Supremium Bio-Technology Limited (SBT) reportedly won “high recognition” from the local markets. It also successfully expanded cross-border e-commerce channels, thereby expediting the penetration into the Southeast Asia market. The Board said SBT will continue to explore middle-aged and elderly health management, youth health and other niche markets in the Greater Bay Area and Southeast Asia, in order to further increase its market share.

In the Japanese sake business, the Group said it focused on refining its market strategy.

Revenue for the first half amounted to approximately HK$30.0 million (~$xxx mm), compared to HK$20.2 million in the 2025 H1 period, representing an increase of approximately 48.9 percent y/y. The segment gross profit margin decreased from approximately 62.5 percent of revenue for the 2025 H1 period to approximately 54.3 percent of revenue for the 2026 first half.

Reportable segment loss for the first half amounted to approximately HK$1.7 million (~$xxx mm), compared to a reportable segment loss of approximately HK$2.5 million in the 2025 H1 period.

Retailing Business
The Group reported that its core retail brand Park Outlets gave “full play to the synergetic effect between outlets model and community business.” Against the backdrop of a moderately recovering market, Park Outlets in Xiamen reportedly demonstrated strong growth momentum, achieving the milestone of exceeding RMB 100 million in sales for the first month of the year for four consecutive years and recording, for the first time since its opening, sales of exceeding RMB 100 million for two consecutive months during the first half, which the Board said was a testament to its exceptional operational capability and brand appeal. Park Outlets in Shenyang reportedly continued to optimize its brand portfolio and strengthened its diversification strategy, achieving “remarkable sales performance” during the Spring Festival and May Day Golden Week.

“During the first half, by focusing on necessary household consumption, the community malls located in Chongqing and Tianjin promoted cross-sector collaborations to empower merchants in expanding their customer base, leveraged new-media live-action promotional content to boost online visibility, and actively introduced quality lifestyle service brands while advancing hardware upgrades, significantly improving consumer experience and satisfaction and further gaining momentum in commercial vitality,” the Group highlighted.

Looking ahead, the Retailing segment will reportedly continue to optimize its diversified brand portfolio through the introduction of local and international premium brands, while doubling down on improving in-store experience to create an immersive consumption environment.

“By seizing the high-quality development opportunities and focusing on the residents’ actual needs, the community malls will optimize its lifestyle service offerings, strengthen cross-sector collaboration and regularly provide convenience services,” the Group suggested. “In terms of marketing innovation, the segment will push forward its omni-channel digital transformation and advance the application of new-media promotion and targeted membership outreach mechanism, further enhancing foot traffic, operational efficiency and brand reputation.”

Retailing
The Retailing segment is comprised of: (i) management and operation of outlet malls located in Xiamen, Shenyang and Anyang of the PRC; and (ii) investment properties including commercial premises located in Hong Kong, Beijing and Shanghai of the PRC and community malls located in Chongqing and Tianjin of the PRC.

The investment properties are held under long-term leases and for the purpose of either earning rental income or capital appreciation.

Segment revenue increased ~13.3 percent y/y to ~HK$135.7 million in H1, compared to ~HK$119.8 million in the year-ago H1 period.

Reportable segment profit for the first half amounted to ~HK$26.4 million, compared to reportable segment profit of ~HK$11.3 million in the 2025 first half.

Financial Services Business
The Group said its Financial Services business stuck to the “prudent operation principle,” and made steady progress in expanding a quality customer base while perfecting its risk management system. Benefiting from the structural opportunities arising from the capital market and a stable interest rate environment, the Financial Service business reportedly provided steady revenue stream for the Group, serving as an effective buffer against overall business risks.

Revenue for the first half amounted to ~HK$7.3 million, compared to ~HK$8.3 million in H1 2025, representing a decrease of approximately 11.2 percent y/y.

The reportable segment loss for the first half amounted to ~HK$2.4 million, compared to ~HK$1.9 million in the year-ago H1 period.

Image courtesy Skins Brand/Symphony Holdings Limited