Giordano International Limited · HKEX:709
Giordano International — H1 2026 Earnings Presentation
47 slides from Giordano International's earnings presentation, Aug 26, 2026
Slide 1: Giordano 2026 1H Results - Analyst Day
Giordano 2026 1H Results - Analyst Day 2026 Aug 26
Slide 2: Beyond Boundaries Strategy 2030
BEYOND BOUNDARIES STRATEGY 2030 To transition Giordano into a growth company 「超越界限」5年策略 轉型為一家增長型公司
Slide 3: Beyond Boundaries: second year of five-year strategic cycle
Beyond Boundaries We are in the second year of our strategic 5 year cycle 「超越界限」五年策略週期的第二年 RESET REVITALIZE & RECONNECT 重整 RECALIBRATE 重建連繫 重振及重配 2025 2026-2027 2027+ 2024 Enhancing Fundamentals 鞏固基 Revitalize the brand portfolio A year of 本實力 重振品牌 Regain our position in Strengthening our Go
Slide 4: Beyond Boundaries strategy key levers of growth
Beyond Boundaries strategy has 4 key strategic lever of growth with a focus on brand transition 超越界限策略設有 4 個主要的策略性增長槓桿，並以品牌過渡為重點 Brand Digital Greater Portfolio First China One 品牌組合 數位先導 大中華區 Giordano Men, Women, Junior • Revitalize Giordano • Digital Transformation • Mainland China • Centralized HQ
Slide 5: 2026 1H Results: P&L Overview
2026 1H Results 2026年上半年業績 Stable Revenue amidst challenging market conditions 在充滿挑戰的市場環境下收入維持穩定 P&L Overview – First Half 2026 利潤及成本概覽 – 2026上半年 Group Revenue Gross Profit OPEX to revenue Net Profit (PATs) Interim 6.7 HK slight increase dividend of 本集團收入 Improvement 經營費用 淨溢利 Cents 毛利提升 中期股息 港仙 Inve
Slide 6: 1H Success Markets
(In current rate) (按當前匯率計算) 1H Success Markets 1H 成功市場 Taiwan Singapore Thailand 台灣 新加坡 泰國 +6.4% +8.4% +8.7% vs 1H 2025 vs 1H 2025 vs 1H 2025 對比1H 2025 對比1H 2025 對比1H 2025 Hong Kong Malaysia Vietnam 香港 馬來西亞 越南 FLAT +7. 1% +6.7% vs 1H 2025 vs 1H 2025 vs 1H 2025 對比1H 2025 對比1H 2025 對比1H 2025 6
Slide 7: 1H Success Digital First
1H Success Digital First 上半年成功推進數位先導 +12.5% Mainland China +11.9% 中國內地 Rest of the World 世界其他各地 (Core Business 核心業務) +24.5% Rest of the World世界其他各地 (Non-Core Business非核心業務) -80.0% 7
Slide 8: 1H Challenges in Indonesia and GCC
(In current rate) (按當前匯率計算) 1H Challenges in … 上半年挑戰… Indonesia GCC (Core Business) 海灣阿拉伯國家合作 印尼（核心業務） 委員會地區 -4.2% -7.1% vs 1H 2025 vs 1H 2025 Import License Issue Middle East Crisis 進口限制 中東危機 8 8
Slide 9: Our 2 largest markets GCC and Indonesia
Our 2 largest markets GCC and Indonesia Represent a combined 36% of our revenue and 65% of our PATs in 2025 我們最大的兩個市場海灣阿拉伯國家合作委員會和印尼 在 2025 年共佔我們收入的 36% 及股東應佔溢利的 65% GCC 海灣阿拉伯國家合 作委員會地區 2025 FY 2024 FY Revenue 19% 18% PATs 50% 50% Indonesia 2025 FY 2024 FY Revenue 18% 20% PATs 15% 32% 9
Slide 10: Brand Transformation Progress: Giordano Ladies store
Brand Transformation Progress品牌轉型進展 Launch of our new Giordano Ladies store to engage with a younger female consumer 推出全新Giordano Ladies門市，吸引更年輕的女性顧客群 Since April, our Hong Kong Business has grown 自四月起，香港業務錄得增長 Central Store, Hong Kong +5% Revenue 1H 2026 收入 2026年上半年
Slide 11: Key Achievements since launch of QRC flagship
Key Achievements since launch of QRC flagship (Since Opening 17 April to 30 Jun) 皇后大道中旗艦店開幕以來的關鍵成效 (自4月17日開幕至6月30日) +3pp +17% +15% +20% Sales vs Last Year Performance Gross Profit 毛利 ATV 平均交易金額 ASP 平均售價 銷售額按年表現 Customer Profile 顧客檔案 +15% 12% Under 20 20歲以下 Traffic Conversion 客流量 轉化率 20-29 30 - 39 11
Slide 12: Overview
Overview • Group revenue declined by a modest 1.0% YOY to HK$1,914 million (1H25: HK$1,934 million). Excluding the impact of GCC, revenue +0.4% YOY • Gross margin +1.6pp to 57.2% (1H25: 55.6%) Channel mix; pricing strategy; sourcing execution • OPEX to revenue ratio +1.6pp to 50.5% (1H25: 48.9%)
Slide 13: Revenue by market
Revenue by market (EX GCC) (EX GCC) GROUP REVENUE RETAIL REVENUE GROUP REVENUE RETAIL REVENUE -1.0% +0.5% +0.4% +2.9% Greater China -0.6% (excl. wholesales: +4.2%) Positive growth: MC+5.0% ; TW +6.4% Strong growth ecommerce in MC +11.9% Southeast Asia and Australia +1.6% Growth driver markets: MY +7
Slide 14: Revenue by channel
Revenue by channel Offline -1.8% (excl. GCC: +0.7%) Greater China +0.7% (TW rebound +7.9%) SEA+ 0.8% (MY +3.7%; TH +4.9%; SG+7.7%; VN+7.1%) GCC -10.1% (Intensified geopolitical tensions) Online +12.5% Mainland China +11.9% Core business (excl. non-Giordano brands) : +14.2% Rest of the world online b
Slide 15: Gross profit margin
Gross profit margin 1H26Gross profit margin +1.6pp YOY at 57.2% (1H25: 55.6%) Channel mix shift, structured pricing framework, stronger sourcing execution August 26, 2026 Giordano 2026 Interim Results Announcement 15
Slide 16: Operating expense
Operating expense Operating expense-to-revenue ratio +1.6pp Higher e-platform charges and logistics costs align with “Digital-First” strategy August 26, 2026 Giordano 2026 Interim Results Announcement 16
Slide 17: Net profit attributable to shareholders (PATS)
Net profit attributable to shareholders (“PATS“) • PATS at HK$108 million (1H25: HK$121 million), net margin -0.7pp at 5.6% (1H25 : 6.3%). Excluding impact of GCC, net margin -0.1pp 1H2025 1H2026 PATS HK$121 million HK$108 million Net Margin 6.3% 5.6% August 26, 2026 Giordano 2026 Interim Results An
Slide 18: Market update: Greater China
Market update: Greater China Mainland China +5.0% • Online business +11.9% • Offline business -8.2% due to reset initiatives Hong Kong and Macau’s retail Flat • Newly relaunched “gl” flagship store in Central • Giordano Ladies revenue in HK +5% • Giordano 2.0 programme Taiwan +6.4% • Refreshed leade
Slide 19: Market update: Southeast Asia and Australia
Market update: Southeast Asia and Australia (“SEA”) SEA +1.6% • Indonesia: -5.1% Importation issue • Market benefited from improvement in product assortment and storytelling effectiveness again with "Beyond Boundaries" five- year strategy Singapore: +8.4% Thailand: +8.7% Malaysia: +7.1% Vietnam: +
Slide 20: Market update: Gulf Cooperation Council
Market update: Gulf Cooperation Council (“GCC”) (In HK$ million) 1H2026 1H2025 Change Revenue 342 368 (7.1%) Franchised stores 48 44 4 Direct-operated stores 143 142 1 Store at period-end 191 186 5 • Escalation of regional tensions in late February and the ongoing Middle East crisis • Confident in G
Slide 21: Inventories
Inventories At June 30 December 31 June 30 (In HK$ million) 2026 2025 2025 Inventories owned by the Group 580 556 513 Inventories held by 48.5% South Korea joint venture 235 273 293 Inventories held by franchisees in Mainland China 30 34 34 Finished goods at suppliers 9 18 6 Inventories not owned by
Slide 22: Brand Transformation Progress
BRAND TRANSFORMATION PROGRESS 品牌轉型進展 22
Slide 23: Brand Portfolio Relaunch
Brand Portfolio 品牌組合 1 Reposition重新定位 2 Relaunch 重新發佈 Giordano Ladies Giordano 2.0
Slide 24: Brand Transformation Progress: 2nd Flagship Manson House
Brand Transformation Progress 品牌轉型進展 2nd Flagship: Manson House, Tsim Sha Tsui 2Q2027 第二間旗艦店：尖沙咀文遜大廈 2027年第二季
Slide 25: Giordano Ladies rollout by market
Giordano Ladies Brand Transformation Progress 品牌轉型進展 Hong Kong 香港 In Progress 進行中 Mainland China 中國內地 2027 Singapore 新加坡 Q4 2026 Thailand 泰國 2027 Malaysia 馬來西亞 2027 Indonesia 印尼 2027/2028 GCC 海灣阿拉伯國家 合作委員會地區 2027 25
Slide 26: Giordano 2.0 Brand Relaunch in 2H / 1Q 2027
2.0 Brand Relaunch in 2H / 1Q 2027 2026年下半年／2027年第一季 重新推出品牌 26
Slide 27: Become an Iconic Brand Again
BECOME AN ICONIC BRAND AGAIN 重塑經典品牌 27
Slide 28: Target Audience
Target Audience 目標受眾 INCLUSIVITY CORE ACROSS ALL CONSUMER SEGMENTS 包容性貫穿所有消費群體 All Races: diverse presentation in design & campaigns 所有族裔：在設計與宣傳活動中呈現多元面貌 All Genders: gender-neutral basics plus tailored fits 所有性別：無性別日常基本款及量體裁衣的版型 All Ages: timeless staples for young & mature shoppers alike 所有年齡：適合年輕
Slide 29: Giordano
~~ , GIORDANO 29
Slide 30: Global Proprietary Website
Global Launch Q4 2026 2026年第四季全球發布 Mainland Indonesia Taiwan China 印尼 台灣 GCC 中國內地 海灣阿拉伯 國家合作委 員會地區 Global Proprietary Website Singapore Thailand Malaysia 全球自營網站 新加坡 泰國 馬來西亞
Slide 31: Giordano 2.0 retail experience launches in Singapore
Giordano 2.0 retail experience launches in Singapore @Ngee Ann City, Takashimaya Giordano 2.0 零售新體驗登陸新加坡 @ 義安城高島屋
Slide 32: Giordano 2.0 retail experience launches in Malaysia
Giordano 2.0 retail experience launches in Malaysia @118 Mall Giordano 2.0 零售新體驗登陸馬來西亞 @ 118 Mall
Slide 33: Giordano 2.0 Global Flagship Relaunch in 2027 Q2
Giordano 2.0 Global Flagship Relaunch in 2027 Q2 Giordano 2.0 將於2027年第二季全球旗艦店重塑推出 Manson House, Hong Kong
Slide 34: Winning in Mainland China
Winning in Mainland China 於中國內地取勝 Resetting Resetting current portfolio Relaunch in 2027 Closing under-performing stores 2027年重塑登場 重組現有店舖網絡; 關閉表現欠佳店舖
Slide 35: We're going global
We're going global – more markets, better execution, bigger impact. 我們正走向全球—開拓更多市場、展現更佳執行力、發 揮更大影響。 Taiwan台灣 Thailand泰國 Malaysia馬來西亞 Indonesia印尼 GCC 海灣阿拉伯國家合作 委員會地區 35
Slide 36: Driving Digital Commerce Beyond Boundaries
NEW MARKETS新市場 Driving Digital Commerce Beyond Boundaries 全面驅動數位電子商務 North America 北美洲 Europe歐洲
Slide 37: Relaunching in India
Relaunching in India 重啟印度業務
Slide 38: 2H Outlook
2H Outlook 下半年展望 38
Slide 39: August, we see improvement in our underlying business
(In current rate) (以當前匯率計算) Hong Kong 香港 +12.1% Taiwan台灣 +5.3% August, we see Thailand泰國 +1.4% improvement in Singapore 新加坡 +7.6% our underlying Malaysia 馬來西亞 +5.4% business 八月，我們的基礎業 Vietnam 越南 +8.5% 務呈現改善 Cambodia 柬埔寨 +1.6% UAE 阿聯酋 +0.2% Saudi Arabia 沙特阿拉伯 +6.8% Indonesia (Core Business) -1.8% As
Slide 40: A deeper look into Hong Kong in August
Flagship Cluster A A deeper look into our Home Market, Hong Kong in Aug (Comp Store) 進一步檢視我們的本土市場香港 八月份的同店表現 +31% +16% Cluster B Cluster C Sales + Outlet +31% +25% +19%
Slide 41: Continue to Elevate Product Launches
Continue to Elevate Product Launches 持續提升產品 發布水平 42
Slide 42: New Product Launched: Chiikawa
New Product Launched 全新產品推出 Chiikawa Launched in July 於7月底發佈 Units Sold銷售數量 79,000 Sell Through售罄率 56.8% 43
Slide 43: Giordano
GB TORDANO ’
Slide 44: Outlook
Outlook 展望 1. Uncertainty in Middle East 中東局勢的不確定性 2. Macro-economic challenges 宏觀經濟挑戰 45
Slide 45: Beyond Boundaries is a growth & investment strategy
Beyond Boundaries is a growth & investment strategy 超越界限為一項增長及投資策略 2030 OUR AMBITIONS SET IN 2025 我們為2025設立的願景 2025 PROFIT AFTER TAX NET SALES GROWTH 除所得税後溢利 淨銷售額增長 Strive to achieve revenue at a Endeavour to achieve profit after tax high single to low double-digit margins trending towards compound
Slide 46: Q&A
Q&A
Slide 47: Thank You
GIORDANO THANK YOU.
Giordano International — H1 2026 Earnings Presentation on 6ix