Stella International Holdings, the CHINESE Hong Kong-headquartered developer and manufacturer of footwear and leather goods, has reported first-half 2026 performance in line with expectations, with consolidated revenue increasing 1.5% year-on-year to US$786.7 million.

Revenue from its footwear manufacturing business rose 1.7% to US$766.6 million, while shipment volumes remained flat at 27.5 million pairs. The average selling price increased 1.8% to US$27.9 per pair, reflecting a higher-value product mix within its sports segment and increased raw material costs.

The company said forward order visibility remains solid despite heightened geopolitical and economic uncertainty, supported by customer demand for its diversified manufacturing base and ability to deliver high-quality products. As part of its Three-Year Plan (2026–2028), Stella is progressing with the commissioning of three new factories in Indonesia, Bangladesh and Vietnam, which are expected to begin operations in the second half of 2026. Together with its existing solo facility in Indonesia, the expansion will add around 20 million pairs of production capacity over the coming years.

Stella reiterated that 2026 will be an investment year, with most of the profit growth from its expansion strategy expected to materialise in the latter stages of the 2026–2028 plan. The group also reaffirmed its commitment to return up to US$60 million in additional cash to shareholders during 2026 through share repurchases and special dividends, alongside maintaining a regular dividend payout ratio of around 70%.

审核：雒霞