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Sa Sa International Holdings shares climbed in Hong Kong on Thursday, October 8, after the cosmetics retailer reported sharply higher second-quarter revenue and a further surge in sales during China’s National Day holiday week. The company’s October 7 update showed revenue of HK$1.414 billion for the three months ended September 30, up 37.2% from a year earlier, while offline sales in Hong Kong and Macao rose 52%.
Sa Sa’s shares rose as much as 8.8% to HK$1.23 by the midday trading break, according to Bamboo Works; Investing.com separately reported an earlier gain of 6.7% to HK$1.28. The intraday figures differ by time and report, but both accounts describe a strong session following the sales disclosures. The company’s holiday update added that Hong Kong and Macao offline sales increased by more than 60% year over year from October 1 to 7, with same-store sales up more than 50%.
Hong Kong and Macao lead quarterly growth
The second-quarter sales update, published by Sa Sa on the Hong Kong Stock Exchange, put Hong Kong and Macao turnover at HK$1.121 billion, 52% higher than a year earlier. Same-store sales in those markets rose 46.9%, while transaction numbers, average sales per transaction and items per transaction all increased, according to the company.
Sa Sa said large marketing campaigns and popular beauty products helped attract visitors from mainland China. It also identified Tsim Sha Tsui, Mong Kok and Causeway Bay as particularly active tourist districts, with store performance supported by positive foot traffic and consumer sentiment despite rainy and typhoon conditions.
Offline sales in Southeast Asia increased 11.4% to HK$98.9 million. The company operated 162 offline stores at September 30, compared with 157 a year earlier, including 90 in Hong Kong and Macao and 72 in Southeast Asia. It said five stores opened in Hong Kong during the first half of its current financial year.
Online sales mix shifts toward direct customers
Not all sales channels grew at the same pace. Consumer-facing online, or B2C, sales rose 22.5% to HK$154.3 million, but business-to-business online sales fell 49.1% to HK$39.9 million. The result was a 5% decline in total online turnover, to HK$194.2 million.
Sa Sa said it deliberately reduced lower-margin bulk B2B orders to prioritize inventory for its higher-margin offline retail and B2C e-commerce operations. It also said it monitored supplies of best-selling products to keep them available across sales channels. These choices help explain why total revenue growth outpaced online turnover, while also making the reported channel mix relevant to interpreting the headline increase.
Golden Week adds a second sales signal
The October 1–7 holiday figures extend the strong performance reported for the quarter, but cover a shorter period and a specific geographic segment. The company said offline sales in Hong Kong and Macao rose more than 60% year over year and same-store sales rose more than 50%. In its filing, Sa Sa linked the gains to promotions and customer demand; reporting by Bamboo Works also noted new concept stores in Mong Kok and Tsim Sha Tsui.
Sa Sa cautioned that its quarterly sales information was drawn from unaudited management accounts and had not been reviewed or audited by the company’s auditors. It also warned investors not to rely unduly on the operating update, noting that performance during the period could not necessarily represent results for a complete reporting period. The Golden Week disclosure likewise describes a limited holiday window rather than a full-quarter or full-year result.
Profit alert preceded the sales updates
The revenue announcement followed a positive profit alert issued on September 21. Based on a preliminary review of unaudited management accounts for the five months ended August 31, Sa Sa said it expected profit attributable to owners to exceed HK$150 million for the six months ended September 30, against HK$50.2 million in the comparable prior-year period.
The company attributed the expected improvement mainly to stronger same-store sales and customer activity in Hong Kong and Macao, as well as faster growth in B2C online sales and profitability. That figure remains guidance, not a finalized interim result. Sa Sa said the full six-month results would be set out in an interim results announcement scheduled for publication by the end of November 2026.
Trading resumed after the mainland holiday
Investing.com also pointed to mainland Chinese financial markets and the Stock Connect mechanism reopening on October 8 after the National Day break as a possible trading backdrop for Hong Kong-listed shares. That context does not establish how much of Sa Sa’s share move came from market flows; the company’s own filings identify its sales data, not a cause for the stock’s daily price change.
For now, investors have an unaudited quarterly turnover update, a separate week-long holiday sales report and a preliminary profit estimate. The next substantial company milestone identified in its alert is the interim results release by the end of November, when the reported six-month earnings figure can be assessed against the earlier estimate.
