TSL Forecasts a Return to Profit for Fiscal 2026

Hong Kong jeweler Tse Sui Luen (TSL) expects to report a profit for fiscal 2026, thanks to the group’s implementation of business-transformation initiatives.

The company believes its earning will be a minimum of HKD 100 million ($12.8 million) for the 12 months that ended March 31, it said last week. In the first half, which ended September 30, the company’s revenue dropped amid rising gold prices and the challenging market in China. Skyrocketing prices for the yellow metal initially led to lower sales. However, recently, as consumers have adapted to the situation, spending on jewelry has rebounded.

In fiscal 2025, TSL recorded a loss of approximately HKD 197.8 million ($25.2 million).

The group’s expected return to profit received a boost from stronger same-store sales and higher profit contributions from its franchise operations on the mainland. Favorable international economic developments, including higher gold prices, also contributed to the positive results, as did lower selling, distribution, and administrative expenses, it added.

TSL expects to publish its full fiscal-year results at the end of June.

Image: A Tse Sui Luen store in Hong Kong. (Shutterstock)