Company DescriptionSUNeVision Holdings Ltd., an investment holding company, provides data center business in Hong Kong. The company is involved in the provision of facilities management and value-added services. It also engages in the design, installation, operation, laying, and cabling of extra-low voltage and information technology systems, as well as building access, voice, data, power supply systems and network, and other infrastructure networks; and provision of related repair and maintenance services. In addition, the company offers IT and optical fiber network, and related maintenance services; treasury services; and financing, management, and company secretary services. Further, it is involved in property and trademark holding activities. The company is headquartered in Kwun Tong, Hong Kong. SUNeVision Holdings Ltd. is a subsidiary of Sunco Resources Limited.

How the Company Makes Money

Sunevision Holdings Ltd. Financial Statement Overview

Summary

Sunevision Holdings Ltd. shows strong revenue growth, robust profit margins, and efficient operations. The high debt-to-equity ratio suggests potential leverage risk, although a stable equity base and decent ROE mitigate this. Positive operating cash flow indicates strong cash generation, but negative free cash flow due to high capital expenditures is a concern.

Income Statement

Very Positive

Sunevision Holdings Ltd. has shown strong revenue growth, increasing from HK$1.56 billion in 2019 to HK$2.67 billion in 2024, with a consistent upward trend. The gross profit margin remains robust, exceeding 50% each year, highlighting efficient cost management. Net profit margin is healthy, averaging around 35% over the years, indicating good profitability. The EBIT and EBITDA margins are also strong, reflecting solid operational efficiency.

Balance Sheet

Positive

The company's debt-to-equity ratio has been relatively high, standing at approximately 3.25 in 2024, which could suggest potential leverage risk. However, the equity ratio has been stable around 20-25%, indicating a balanced capital structure. Return on equity (ROE) has been decent, hovering around 18-20%, demonstrating effective use of shareholder funds.

Cash Flow

Positive

Operating cash flow has been consistently positive, with a steady increase over the years, indicating strong cash generation capability. However, free cash flow has been negative in recent years due to high capital expenditures, which could be a concern if this trend continues. The operating cash flow to net income ratio is above 1, showing efficient conversion of net income into cash.

TTM	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2020
Breakdown
Income Statement		Total Revenue
2.85B	2.67B	2.35B	2.09B	1.87B	1.71B
	Gross Profit
1.56B	1.41B	1.32B	1.20B	1.10B	991.84M
	EBIT
1.41B	1.26B	1.17B	1.04B	960.33M	856.03M
	EBITDA
1.78B	1.86B	1.70B	1.50B	1.36B	1.19B
	Net Income Common Stockholders
955.74M	907.19M	905.37M	846.83M	787.73M	783.25M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
488.50M	498.74M	237.28M	309.67M	387.32M	401.95M
	Total Assets
14.57B	24.07B	20.78B	18.14B	16.47B	15.18B
	Total Debt
9.13B	16.60B	13.75B	11.90B	10.57B	9.12B
	Net Debt
8.64B	16.10B	13.52B	11.59B	10.18B	8.72B
	Total Liabilities
10.63B	18.95B	16.12B	13.55B	12.02B	10.86B
	Stockholders Equity
3.93B	5.12B	4.65B	4.58B	4.44B	4.31B
Cash Flow		Free Cash Flow
-648.30M	-1.39B	-472.33M	-415.25M	-552.28M	238.77M
	Operating Cash Flow
1.55B	1.59B	1.47B	1.33B	1.27B	1.18B
	Investing Cash Flow
-2.18B	-2.96B	-1.94B	-1.74B	-1.82B	-1.38B
	Financing Cash Flow
798.26M	1.64B	394.31M	336.67M	536.78M	140.12M

Sunevision Holdings Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VI6		€1.91B	15.91	19.23%	1.72%	―	―
Sector *	61 Neutral	$2.83B	10.92	0.41%	8438.90%	5.75%	-21.03%
PIAIF		$122.85B	6.00		6.13%	―	―
CHLLF		$3.79B	27.70	-1.14%	―	―	―
SNPTF		$8.65B	22.33	11.45%	0.36%	―	―
XIACF		$175.59B	40.59	14.98%	―	―	―
ZTCOF		$20.39B	12.36	11.39%	2.96%	―	―

* Real Estate Sector Average

Performance Comparison

DE:VI6

Sunevision Holdings Ltd.

0.77

0.48

165.52%

PIAIF

Ping An Insurance Company of China

5.82

1.44

32.88%

CHLLF

China Literature

3.48

0.08

2.35%

SNPTF

Sunny Optical Technology (Group) Co

7.70

1.65

27.27%

XIACF

Xiaomi

6.84

4.59

204.00%

ZTCOF

ZTE

2.91

0.93

46.97%

Glossary

OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.

NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.

UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

Disclaimer

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