Results Snapshot
Figures in Million
Consolidate Annual Results
Dec'25
Dec'24
Dec'23
Dec'22
Dec'21
Dec'20
Dec'19
Net Sales
767.19
919.15
1,068.79
807.98
1,089.58
514.65
750.40
Other Operating Income
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Total Operating income
767.19
919.15
1,068.79
807.98
1,089.58
514.65
750.40
Raw Material Cost
547.43
649.00
744.99
578.75
774.92
374.60
530.66
Purchase of Finished goods
0.00
0.00
0.00
0.00
0.00
0.00
0.00
(Increase) / Decrease In Stocks
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Employee Cost
0.00
0.00
111.56
99.40
110.11
84.63
104.62
Power Cost
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Manufacturing Expenses
0.40
0.45
0.45
0.61
0.74
2.83
5.12
Selling and Distribution Expenses
130.59
158.64
155.77
181.36
149.12
108.02
159.01
Other Expenses
-0.04
-0.05
-11.20
-10.00
-11.09
-8.75
-10.97
Total Expenditure (Excl Depreciation)
678.02
807.64
900.77
760.12
924.03
482.62
689.67
Operating Profit (PBDIT) excl Other Income
89.2
111.5
168
47.9
165.5
32
60.7
Other Income
16.59
14.60
14.08
18.02
14.10
15.08
19.87
Operating Profit (PBDIT)
111.13
131.64
187.84
71.84
187.12
55.00
85.52
Interest
0.40
0.45
0.45
0.61
0.74
2.83
5.12
Exceptional Items
8.06
-0.18
-4.20
-0.88
0.00
-0.37
0.80
Gross Profit (PBDT)
219.75
270.15
323.80
229.22
314.66
140.05
219.74
Depreciation
5.37
5.53
5.74
5.96
7.47
7.89
4.92
Profit Before Tax
113.42
125.47
177.45
64.40
178.91
43.91
76.27
Tax
29.24
35.51
51.23
31.93
50.71
14.97
29.48
Provisions and contingencies
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Profit After Tax
82.42
85.92
119.33
27.48
111.47
26.32
33.98
Extraordinary Items
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Prior Period Expenses
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Other Adjustments
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Net Profit
82.42
85.92
119.33
27.48
111.47
26.32
33.98
Share in Profit of Associates
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Minority Interest
5.52
8.82
11.52
5.36
12.13
2.03
12.36
Other related items
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Consolidated Net Profit
87.95
94.74
130.85
32.84
123.60
28.35
46.34
Equity Capital
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Face Value
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Reserves
381.74
363.28
374.09
377.59
497.03
426.75
66.99
Earnings per share (EPS)
0.11
0.12
0.16
0.04
0.15
0.03
0.04
Diluted Earnings per share
0.11
0.12
0.16
0.04
0.15
0.03
0.04
Operating Profit Margin (Excl OI)
11.62%
12.13%
15.72%
5.92%
15.19%
6.22%
8.09%
Gross Profit Margin
15.48%
14.25%
17.14%
8.71%
17.11%
10.07%
10.82%
PAT Margin
10.74%
9.35%
11.17%
3.4%
10.23%
5.11%
4.53%
Public Share Holdings (%)
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
Pledged Promotor Holding (%)
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
Annual Analysis Highlights
Net Sales
YoY Growth in year ended Dec 2025 is -16.54% vs -14.00% in Dec 2024
Consolidate Net Profit
YoY Growth in year ended Dec 2025 is -7.18% vs -27.65% in Dec 2024
Operating Profit (PBDIT) excl Other Income
YoY Growth in year ended Dec 2025 is -19.23% vs -32.68% in Dec 2024
Interest
YoY Growth in year ended Dec 2025 is -20.00% vs 0.00% in Dec 2024
Operating Profit Margin (Excl OI)
YoY Growth in year ended Dec 2025 has fallen from Dec 2024
Compare Annual Results Of Activation Group Holdings Ltd. With
Figures in Million
Consolidate Annual Results
Change(HKD)
Change(%)
Net Sales
767.19
666.52
100.67
15.10%
Other Operating Income
0.00
0.00
0.00
Total Operating income
767.19
666.52
100.67
15.10%
Raw Material Cost
547.43
398.97
148.46
37.21%
Purchase of Finished goods
0
0
0.00
(Increase) / Decrease In Stocks
0
0
0.00
Employee Cost
0.00
248.09
-248.09
-100.00%
Power Cost
0
0
0.00
Manufacturing Expenses
0.40
2.55
-2.15
-84.31%
Selling and Distribution Expenses
130.59
285.53
-154.94
-54.26%
Other Expenses
-0.04
-25.06
25.02
99.84%
Total Expenditure (Excl Depreciation)
678.02
684.50
-6.48
-0.95%
Operating Profit (PBDIT) excl Other Income
89.17
-17.98
107.15
595.94%
Other Income
16.59
-7.49
24.08
321.50%
Operating Profit (PBDIT)
111.13
6.46
104.67
1,620.28%
Interest
0.40
2.55
-2.15
-84.31%
Exceptional Items
8.06
5.74
2.32
40.42%
Gross Profit (PBDT)
219.75
267.55
-47.80
-17.87%
Depreciation
5.37
31.93
-26.56
-83.18%
Profit Before Tax
113.42
-22.27
135.69
609.30%
Tax
29.24
-1.24
30.48
2,458.06%
Provisions and contingencies
0
0
0.00
Profit After Tax
82.42
-21.03
103.45
491.92%
Extraordinary Items
0.00
0.00
0.00
Prior Period Expenses
0
0
0.00
Other Adjustments
0
0
0.00
Net Profit
82.42
-21.03
103.45
491.92%
Share in Profit of Associates
0
0
0.00
Minority Interest
5.52
0.00
5.52
Other related items
0.00
0.00
0.00
Consolidated Net Profit
87.95
-21.03
108.98
518.21%
Equity Capital
0
0
0.00
Face Value
0.00
0.01
0.00
Reserves
381.74
426.60
-44.86
-10.52%
Earnings per share (EPS)
0.11
-0.01
0.12
1,200.00%
Diluted Earnings per share
0.11
-0.01
0.12
1,200.00%
Operating Profit Margin (Excl OI)
11.62%
-2.70%
0.00
14.32%
Gross Profit Margin
15.48%
1.45%
0.00
14.03%
PAT Margin
10.74%
-3.16%
0.00
13.90%
Public Share Holdings (%)
0%
0%
0.00
0.00%
Pledged Promotor Holding (%)
0%
0%
0.00
0.00%
Annual - Net Sales
Net Sales 76.72 Million
in Dec 2025Figures in Million
YoY Growth in year ended Dec 2025 is -16.54% vs -14.00% in Dec 2024
Annual - Consolidate Net Profit
Consolidate Net Profit 8.79 Million
in Dec 2025Figures in Million
YoY Growth in year ended Dec 2025 is -7.18% vs -27.65% in Dec 2024
Annual - Operating Profit (PBDIT)
Operating Profit (PBDIT) 9.45 Million
in Dec 2025Figures in Million
YoY Growth in year ended Dec 2025 is -19.23% vs -32.68% in Dec 2024
Annual - Interest
Interest 0.04 Million
in Dec 2025Figures in Million
YoY Growth in year ended Dec 2025 is -20.00% vs 0.00% in Dec 2024
Annual - Operating Profit Margin (Excl OI)
Operating Profit Margin (Excl OI) 11.62%
in Dec 2025Figures in %
YoY Growth in year ended Dec 2025 has fallen from Dec 2024






