Media OutReach
Best Mart 360 Announces Annual Results, Recorded Significant Growth in Both Revenue and Net Profit
Proposed a Final Dividend of HK10.0 cents per share
Highlights:
- Revenue increased by 8.2% to approximately HK$2,805.1 million.
- Gross profit increased by 10.6% to approximately HK$1,028.0 million.
- Operating profit recorded approximately HK$315.2 million.
- Profit attributable to owners of the Company increased by 5.3% to approximately HK$247.5 million.
- As at 31 December 2024, the Group operated a total of 176 chain retail stores, including 170 retail stores in Hong Kong and 6 retail stores in Macau.
- Basic earnings per share was approximately HK24.8 cents. The Board recommended the payment of final dividend of HK10.0 cents per share.
Financial Highlights:
|
HK$’000 |
Year ended
31 Dec 2024 |
Year ended
31 Dec 2023* |
Change |
| Revenue | 2,805,146 | 2,592,129 | +8.2% |
| Gross profit | 1,027,997 | 929,812 | +10.6% |
| Gross profit margin | 36.6% | 35.9% | +0.7 ppts |
| Profit attributable to owners of
the Company |
247,522 |
234,959 |
+5.3% |
*Unaudited figures
HONG KONG SAR – Media OutReach Newswire – 25 March 2025 – Best Mart 360 Holdings Limited (“Best Mart 360” or the “Company”, together with its subsidiaries, the “Group”; stock code: 2360.HK), a leisure food retailer in Hong Kong, announced its results for the year ended 31 December 2024 (“the Financial Year under Review”). As the Company changes the financial year end date from 31 March to 31 December, which is different from the length of the previous reporting period, the audited comparative figures may not be fully comparable.
During the Financial Year under Review, the revenue recorded by the Group amounted to approximately HK$2,805,146,000, representing an increase of approximately 8.2% as compared with the unaudited revenue of approximately HK$2,592,129,000 for the year ended 31 December 2023, primarily driven by the Group’s stable stores expansion strategy
During the Financial Year under Review, gross profit was approximately HK$1,027,997,000, compared to the unaudited gross profit of approximately HK$929,812,000 for the year ended 31 December 2023. The Group’s gross profit margin for the Financial Year under Review was approximately 36.6%, representing an increase of 0.7 percentage points compared with approximately 35.9% for the unaudited gross profit margin for the year ended 31 December 2023.
Profit attributable to owners of the Company for the Financial Year under Review was approximately HK$247,522,000 (year ended 31 December 2023: approximately HK$234,959,000 (unaudited)), a 5.3% year-on-year increment. The Group’s net profit margin before interest and tax for the year ended 31 December 2024 was approximately 11.2%, while the unaudited net profit margin before interest and tax for the same twelve-month period in 2023 was approximately 11.4%. The decrease was mainly due to the rising operating cost.
During the Financial Year under Review, basic earnings per share was approximately HK24.8 cents. The Board recommended the payment of final dividend of HK10.0 cents per share.
BUSINESS REVIEW
15 New Retail Stores & Kept Broadening Presence in Hong Kong’s Residential Areas
As at 31 December 2024, the Group operated a total of 176 chain retail stores (31 December 2023: 167 stores), including 170 chain retail stores (31 December 2023: 159 stores) in Hong Kong and 6 chain retail stores (31 December 2023: 7 stores) in Macau respectively. During the Financial Year under Review, the Group opened 15 new retail stores, and closed 6 stores upon expiration of their respective lease terms in alignment with the Group’s expansion strategy adjustment.
Rental expense (cash basis) for retail stores was approximately HK$269,493,000 for the year ended 31 December 2024, as compared with that of approximately HK$241,986,000 for the year ended 31 December 2023 (unaudited), representing an increase of approximately 11.4%. The ratio of rental expense (cash basis) to sales revenue of retail stores for the year ended 31 December 2024 was approximately 9.6%, which was higher than that of approximately 9.3% for the year ended 31 December 2023 (unaudited).
Kept Optimising Product Mix & Increased Share of Sales from Private Label Products
During the Financial Year under Review, the Group continued its global procurement policy and mission by sourcing broad spectrum of products worldwide that meet and satisfy market trend and demand. To better cater to the needs of the local community, the Group further strengthened the supply of basic foodstuffs such as cereals, noodles, canned food, milk, chilled and frozen food, daily necessities and basic grocery products. In addition, the Group continued to strengthen its private label sales in retail stores, including nuts and dried fruits, organic grains, wet tissues, canned food, biscuits and snacks, etc., providing consumers with more diversified choices.
For the year ended 31 December 2024, the Group offered a total of 3,653 stock keeping units (“SKUs”) of products (for the year ended 31 December 2023: 3,945 SKUs) from suppliers principally from China and overseas markets as well as brand owners or importers in Hong Kong.
For the year ended 31 December 2024, approximately 54.9% of the products were purchased from suppliers and brand owners or importers in Hong Kong (for the year ended 31 December 2023: approximately 54.4%), while imports from Japan, China and Europe accounted for approximately 11.7%, 9.8% and 6.3% of the total purchases respectively (for the year ended 31 December 2023: approximately 13.0%, 6.0% and 8.3% respectively).
As at 31 December 2024, the total amount of inventories of the Group amounted to approximately HK$339,513,000 (31 December 2023: approximately HK$276,691,000), a 22.7% year-on-year increment.
During the Financial Year under Review, the Group continued to actively develop private label products that on one hand allow the Group to capture pricing advantages and exercise higher level of quality control on its products and on the other hand further uplift its brand awareness and strengthen customers’ loyalty. For the Financial Year under Review, sales derived from private label products was approximately HK$477,222,000 (for the year ended 31 December 2023: approximately HK$404,078,000), accounted for approximately 17.0% of the Group’s revenue for the Financial Year under Review (for the year ended 31 December 2023: approximately 15.6%). During the Financial Year under Review, the Group had launched an aggregate of 11 private labels, and the products for sale included nuts and dried fruits, organic grains, wet tissues, canned food, biscuits and snacks, etc.
Expanded the Customer Base & Timely Launched Marketing Activities
To further deepen customer stickiness and expand customers’ coverage, the Group used big data analysis and reformulated its marketing strategy to launch a new three-tier membership scheme and a second-generation mobile app in 2020. The new membership scheme helps to elevate brand positioning and market recognition, and the membership rewards have been fully optimised and enhanced, with more member benefits such as multiple items purchase stamp reward, special offers for selected products and access to latest market information.
Through diversified marketing strategies, the Group aims to internally strengthen the membership core from within and attract new customers through external expansion, so as to effectively and purposefully foster the ties between members and the Group, thereby driving recurring business from members and promoting sustainable growth of the Group’s business.
During the Financial Year under Review, the number of the Group’s members increased from approximately 2,123,365 as at 31 December 2023 to approximately 2,280,418 as at 31 December 2024, representing an increase of approximately 7.4%.
To express our gratitude for our customers’ support, the Group launched various marketing and promotional activities during the Financial Year under Review including the “Best Price” promotional campaign, which provided customers with a series of special offers for selected quality products from time to time to enhance customer loyalty. Meanwhile, the Group continued to advertise through television, newspapers, social media platforms and other media, which successfully obtained repeat customers, attracted new customers and greatly promoted the discussions about the Group in the market.
PROSPECTS
In order to maintain robust operational profitability, the Group will continue to review the regional distribution of its brand stores, and adopt appropriate expansion policies and flexible leasing strategies to look for suitable opportunities to expand the retail network for its major retail brands “Best Mart 360° (優品360° )” and global gourmet brand “FoodVille” in Hong Kong and Macau, with a target of achieving a net increase of 10 retail stores annually under its dual-brand model, catering to the diverse needs of different customer segments for quality food products.
Through global sourcing, the Group remains committed to broadening its product categories and maintaining price competitiveness. The Group will continue to source a diverse range of food products worldwide, intensify efforts to develop its private label products, and proactively explore new products to provide customers with a broader range of choices to meet the needs of various consumer groups.
In addition, the Group has entered into a sales and procurement framework agreement with China Merchants Hoi Tung Trading Company Limited (“CMHT”). In 2025, the Group will expand its product sales to and procurement from CMHT and its subsidiaries, facilitating the introduction of several popular brands from Mainland China. The Board believes that through CMHT’s robust network of food importers and distributors, the Group will strengthen its procurement as well as business-to-business (B2B) operations . In addition, the Group has entered into agreements with China Merchants Bonded Logistics Co., Limited* (招商局保稅物流有限公司) and China Merchants Qian Hai Wan (Shenzhen) Supply Chain Management Co., Ltd.* (招商前海灣(深圳)供應鏈管理有限公司). Since last year, they have provided customs clearance, warehousing and related logistics services as well as land transportation services of goods between Shenzhen and Hong Kong and other ancillary services. These have alleviated the pressure on the Group’s warehouses in Hong Kong and reduce overall goods handling costs.
Mr. Hui Chi Kwan, Chief Executive Officer of the Group, said, “As the number of Hong Kong residents traveling abroad continues to rise, along with a shift in the consumption patterns of visitors to Hong Kong, the local retail sector is expected to require additional time to fully recover. In this challenging business environment, the sustained success of our group relies on the steadfast support of our customers and the dedicated efforts of our employees. Looking ahead, the group will persist in implementing timely and adaptive marketing strategies to effectively respond to the dynamic and unpredictable market conditions.”
Hashtag: #BestMart360 #優品360 #AnnualResults #業績 #全年業績
The issuer is solely responsible for the content of this announcement.
Best Mart 360 Holdings Limited
Best Mart 360 Holdings Limited operates chain retail stores under the brand “Best Mart 360˚”, offering wide selection of imported and pre-packaged leisure foods and other grocery products principally from overseas. It is the Group’s business objective to offer “Best Quality” and “Best Price” products to customers through continuous efforts on global procurement with a mission to provide comfortable shopping environment and pleasurable shopping experience to customers. As at 31 December 2024, the Group operated a total of 176 chain retail stores, spanning all of the 18 districts in Hong Kong and strategic locations with heavy pedestrian flow in Macau. Among the chain retail stores, the global gourmet brand “FoodVille” launched in September 2021 is also included, targeting the medium-to-high-end-market.
Media OutReach
SIM and the True Worth of Education: Beyond Tuition Fees
Local Public Universities: Affordable and Prestigious
Singapore’s autonomous universities remain among the most cost-effective options for Singapore citizens, thanks to the Ministry of Education’s Tuition Grant. For example, undergraduate programs at NUS and NTU cost around S$8,250 per year for Singaporeans, while SMU averages S$11,500 annually. Other institutions such as SUTD, SUSS and SIT fall within similar ranges, typically between S$8,000 and S$13,500 per year. Over a three- to four-year degree, this translates to roughly S$25,000 to $54,000 in tuition fees.
The autonomous universities offer strong reputations and excellent graduate outcomes, but entry to some programme is highly competitive, and program flexibility may be limited compared to private or overseas options.
Overseas Universities: Prestige Comes at a Price
For families considering an overseas education, costs escalate dramatically. Tuition at U.S. private universities averages US$50,000 to US$60,000 per year (about S$70,000 to S$84,000), with living expenses adding another US$10,000 to US$15,000 annually. In the UK, fees range from £10,000 to £38,000 per year (approximately S$17,000 to $65,000), while Canada and Australia typically charge S$14,000 to $28,000 for tuition alone. Factoring in accommodation, travel, and insurance, a four-year overseas degree can easily exceed S$150,000.
While these programs offer prestige and cultural immersion, they also involve significant financial, visa, and lifestyle considerations.
SIM Global Education: International Degrees at Local Cost
SIM offers a compelling alternative for students seeking global credentials without the high cost of studying abroad. Through partnerships with leading universities from the UK, Australia, the U.S., Canada, and Europe, SIM delivers more than 140 programs in Singapore, allowing students to earn internationally recognized degrees, essentially the same degree if you studied overseas, but locally at SIM. Tuition fees vary by program, for example, a University of London BSc ranges from S$26,685 to S$42,835, a University of Birmingham top-up degree costs S$42,000 to S$57,100, and a degree from the University at Buffalo falls between S$41,700 and S$74,600 for Singaporeans.
Beyond competitive pricing, SIM emphasizes value. Degrees are awarded by partner universities and aligned with global academic standards. The institution holds EduTrust Star certification and ISO accreditation, ensuring the best quality assurance. Students benefit from bond-free scholarships and bursaries, as well as Career Connect services that provide internships, mentoring, and employer networking. Graduate outcomes are strong, with nearly 80% of SIM graduates securing employment within six months of graduation.
Why Value Matters as Much as Cost
Choosing a degree isn’t just about tuition fees, it’s about the total investment, which includes living costs, global recognition, and career outcomes. Local autonomous universities such as NUS, NTU, and SMU remain highly attractive for their subsidized fees and strong reputations, making them one of the most cost-effective options for Singaporeans. However, entry is competitive, and program flexibility may be limited.
On the other end of the spectrum, overseas universities offer prestige and cultural immersion but often come with six-figure costs and additional living expenses. This is where SIM provides a strategic middle ground, delivering internationally recognized degrees from leading global universities at local cost. Students gain access to global curricula, industry-ready skills, and career networks without the financial burden of relocating overseas. For families seeking international exposure at sustainable costs, SIM combines affordability with the value of global education
References:
- NUS Fees for Undergraduate Programmes – https://www.nus.edu.sg/registrar/docs/info/administrative-policies-procedures/ugtuitioncurrent.pdf
- NTU Fees for Undergraduate Programmes – https://www.ntu.edu.sg/docs/default-source/onestop@sac/2025/tuition-fees-ft-ay2025_12mar25.pdf?sfvrsn=b8c5474_1
- SMU Fees for Undergraduate Programmes – https://admissions.smu.edu.sg/financial-matters/tuition-fees-grant
- SUTD Fees for Undergraduate Programmes – https://www.sutd.edu.sg/admissions/undergraduate/education-expenses/fees/tuition-fees/
- SUSS Fees for Undergraduate Programmes – https://www.suss.edu.sg/admissions/financial-matters/tuition-fee-subsidy/full-time-undergraduate
- SIT Fees from Undergraduate Programmes – https://www.suss.edu.sg/admissions/financial-matters/tuition-fee-subsidy/full-time-undergraduate
- Comparison of Tuition Fees in US, UK, Canada and Australia – https://uninist.com/blog/financial-planning/comparison-of-tuition-fees-guide
- How much does college cost in 2025 – https://research.com/universities-colleges/how-much-does-college-cost
- Price of attending undergraduate institutions – https://nces.ed.gov/programs/coe/indicator/cua
- University of London Bachelor Degree – https://www.sim.edu.sg/degrees-diplomas/programmes/programme-listing?academic=2%7C&programmetype=1%7C3&university=1%7C
- University of Brimingham Bachelor Degree – https://www.sim.edu.sg/degrees-diplomas/programmes/programme-listing?academic=2%7C&programmetype=1%7C3&university=10%7C
Hashtag: #SIMGlobalEducation #SIMGE #GlobalEducation #InternationalDegree #CareerReady #FutureSkills
The issuer is solely responsible for the content of this announcement.
About SIM Global Education
SIM Global Education (SIM GE) is a leading private education institution in Singapore and the region. We offer more than 140 academic programmes ranging from diplomas and graduate diploma programmes to bachelor’s and master’s degree programmes with some of the world’s most reputable universities from Australia, Canada, Europe, United Kingdom, and the United States. SIM GE’s cohort is made up of 16,000 full- and part-time students and adult learners, of which approximately 36% are international students hailing from over 50 countries.
SIM GE’s holistic learning approach and culturally diverse learning environment aim to equip students with knowledge, industry skills and employability competencies, as well as a global perspective to succeed as future leaders in a fast-changing, technologically driven world.
For more information on SIM Global Education, visit sim.edu.sg
Media OutReach
A-Level vs Polytechnic: Understanding different pathways offer competitive edge at SIM
Conversely, Polytechnic programmes emphasize applied learning, incorporating projects and industry attachments, and culminate in a diploma after three years. Understanding how these distinct approaches translate into admission considerations at SIM, one of Singapore’s leading private education institutions, is essential.
For students and parents, evaluating these options is critical to determining which pathway offers the greatest advantage in today’s competitive education landscape.
Applying with A-Levels
For students who have completed A-Levels, SIM requires applicants to meet the academic and English language criteria specified for each degree programme. According to SIM’s admissions process, candidates must submit their GCE A-Level certificates and transcripts along with other supporting documents. Entry is subject to programme-specific requirements set by SIM and its universities partner from Australia, Canada, Europe, the United Kingdom, and the United States. This pathway allows applicants to begin their degree studies immediately after junior college, provided they meet the specific entry requirements for their chosen programme.
Applying with a Polytechnic Diploma
Polytechnic graduates may be eligible for advanced standing and credit exemptions when applying to SIM’s degree programmes. The amount of exemption depends on the relevance of the diploma and the chosen degree. For example, IT-related diplomas from local polytechnics can receive up to two years of credit exemptions for certain programmes, such as those offered by the University of Wollongong, provided the applicant meets GPA requirements (typically 2.0 or above). Other diplomas may receive partial exemptions on a case-by-case basis. These exemptions reduce both time and cost, making SIM an attractive option for Polytechnic graduates who want to build on their applied learning experience.
Why It Matters
According to the Ministry of Education (MOE) statistics in 2021, roughly one in three Polytechnic graduates progress to local autonomous universities, compared to about four in five A‑Level and International Baccalaureate graduates. This gap underscores the importance of additional pathways such as SIM, which enable Polytechnic graduates to earn globally recognised degrees and expand their career prospects.
Student Stories: Two Potential Paths to Success at SIM
At SIM, students have the flexibility to shape their academic journey based on their background and career goals. For some, it’s about gaining a head start; for others, it’s about leveraging credit exemptions to fast-track progress. Ashley Ong and Violet Weng exemplify these two pathways, each leading to success in its own way.
Ashley Ong, an A-Level graduate, chose to begin her degree journey with the University at Buffalo Bachelor of Science in Business Administration. She embraced every opportunity SIM offered such as internships, hackathons, and networking events, building practical skills and global perspectives that prepared her for a competitive business world.
Meanwhile, Violet Weng, a Singapore Polytechnic graduate, opted for a different approach. While pursuing her RMIT Bachelor of Business (Economics and Finance), Violet leveraged SIM’s credit exemptions to shorten her study duration and reduce costs, all while working full-time. This flexibility allowed her to balance work and study, accelerate graduation, and advance her career without compromise.
Both stories highlight SIM’s commitment to offering customized pathways for students whether you’re starting fresh or building on prior learning.
Conclusion
Whether you come from an academic route like A-Levels or an applied learning path through Polytechnic, the journey to a degree can look very different. A-Level graduates often enjoy a head start with direct entry, while Polytechnic graduates benefit from credit exemptions that recognize their practical skills. Both pathways reflect Singapore’s evolving education landscape where flexibility and global opportunities matter more than ever.
References:
- MOE Post-Secondary – https://www.moe.gov.sg/post-secondary/
- SIM Application Process – https://www.sim.edu.sg/degrees-diplomas/admissions/application-process
- SIM-UOW Credit Exemption Table – https://www.sim.edu.sg/getmedia/9c0ad90d-5910-4d47-b044-f815188a4b16/sim002856.pdf
- MOE Education Statistics Digest – https://www.moe.gov.sg/about-us/publications/education-statistics-digest
- Polytechnic graduates progression and subsidies for PEIs – https://www.moe.gov.sg/news/parliamentary-replies/20210510-polytechnic-graduates-progression-and-subsidies-for-peis
- askST: How many uni places are there for Singaporeans? Is there a quota for poly grads? – https://www.straitstimes.com/singapore/how-many-uni-places-for-locals-any-quota-for-poly-grads
- How 6 internships, 4 hackathons, and CCAs paved the way for Ashley – https://www.sim.edu.sg/articles-inspirations/how-6-internships-4-hackathons-and-ccas-paved-the-way-for-ashley
- How this graduate pivoted her career by pursuing a degree while working full time – https://www.sim.edu.sg/articles-inspirations/how-this-graduate-pivoted-her-career-by-pursuing-a-degree-while-working-full-time
Hashtag: #SIMGlobalEducation #SIMGE
The issuer is solely responsible for the content of this announcement.
About SIM Global Education
SIM Global Education (SIM GE) is a leading private education institution in Singapore and the region. We offer more than 140 academic programmes ranging from diplomas and graduate diploma programmes to bachelor’s and master’s degree programmes with some of the world’s most reputable universities from Australia, Canada, Europe, United Kingdom, and the United States. SIM GE’s cohort is made up of 16,000 full- and part-time students and adult learners, of which approximately 36% are international students hailing from over 50 countries.
SIM GE’s holistic learning approach and culturally diverse learning environment aim to equip students with knowledge, industry skills and employability competencies, as well as a global perspective to succeed as future leaders in a fast-changing, technologically driven world.
For more information on SIM Global Education, visit sim.edu.sg
Media OutReach
K. Wah Group Donates Additional HK$12.07 Million for Tai Po Recovery
Chairman Mr. Francis Lui Urges Public to Turn Compassion into Action and Vote 7 December
HONG KONG SAR – Wechat: 嘉华集团 K. Wah Group
https://www.youtube.com/@kwahgroup
The issuer is solely responsible for the content of this announcement.
About K. Wah Group
K. Wah Group was founded in 1955 by Dr. Lui Che Woo and has since grown into a diversified multinational corporation. Its core businesses span property development and investment, integrated resort and entertainment, hospitality, and construction materials.
The Group has a strong presence in Mainland China, Hong Kong, Macau, Southeast Asia, and key international markets. Its major subsidiaries include two Hong Kong-listed flagships: K. Wah International Holdings Limited (HKEX: 00173), focused on premium property development and investment; and Galaxy Entertainment Group Limited (HKEX: 00027), a constituent of the Hang Seng Index and a leading gaming and entertainment operator in Macau. Other key members of the Group include Stanford Hotels International and K. Wah Construction Materials Limited. Today, K. Wah Group comprises over 200 subsidiaries worldwide.
Website:
http://www.kwah.com
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