Asia Commercial Holdings Limited (0104) AI Stock Analysis

• Market Cap: HK$190.52M
• Dividend Yield: 13.65%
• Average Volume (3M): 1.09M
• Price to Earnings (P/E): 7.8
• Beta (1Y): 0.21
• Revenue Growth: 0.56%
• EPS Growth: -6.55%
• Country: HK
• Employees: 106
• Sector: Consumer Cyclical
• Sector Strength: 72
• Industry: Specialty Retail
• EPS (TTM): -0.01
• Shares Outstanding: 747,123,200
• 10 Day Avg. Volume: 1,167,455
• 30 Day Avg. Volume: 1,088,021
• PEG Ratio: -1.07
• Price to Book (P/B): 0.39
• Price to Sales (P/S): 0.24
• P/FCF Ratio: 1.67
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: HK$0.50
• Price Target Upside: 92.31% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 73 Outperform
• Price Target: HK$0.50 ▲(92.31% Upside)

The overall stock score for Asia Commercial Holdings Limited is driven by strong financial performance, particularly in cash flow generation and revenue growth. The valuation is highly attractive with a low P/E ratio and high dividend yield, making it appealing to value and income investors. Technical analysis shows a positive trend, though caution is advised due to potential overbought conditions.

Asia Commercial Holdings Limited Business Overview & Revenue Model

Company Description

Asia Commercial Holdings Limited, an investment holding company, engages in the retail and wholesale of watches in Hong Kong, the People's Republic of China, and Switzerland. The company operates in two segments, Sale of Watches and Properties Leasing. It is also involved in the assembly and marketing of gold and jewelry watches; property holding, development, investment, and leasing activities; and brand development business. The company operates 6 stores in China. Asia Commercial Holdings Limited was incorporated in 1990 and is based in Wan Chai, Hong Kong.

How the Company Makes Money

Asia Commercial Holdings Limited generates revenue through multiple streams. A significant portion comes from its property investment segment, where the company earns rental income from its commercial and residential properties. The trading of consumer goods contributes to revenue as well, with the company involved in importing and exporting various products, thus benefitting from sales margins. Additionally, the financial services sector may provide income through services such as advisory or brokerage, depending on market conditions. The company may also enter into partnerships with other entities for joint ventures or collaborations, further enhancing its income potential.

Asia Commercial Holdings Limited Financial Statement Overview

Summary

Asia Commercial Holdings Limited displays a mixed financial picture. While operational efficiency and cash flow remain strong, profitability has been under pressure. The balance sheet is stable but requires attention due to declining equity. Overall, the company maintains a solid financial base but should focus on improving net profitability to enhance its financial health.

Income Statement

The company has shown a fluctuating revenue trend, with a recent slight decline from 2023 to 2024. The gross profit margin has remained relatively stable, indicating consistent cost management. However, the net profit margin has decreased significantly, suggesting challenges in maintaining profitability. Positive aspects include an improved EBIT margin, reflecting better operational efficiency. Overall, while profitability metrics have shown some weaknesses, the company demonstrates some operational resilience.

Balance Sheet

The balance sheet reflects a moderate debt-to-equity ratio, indicating manageable leverage. ROE has decreased, highlighting a drop in profitability relative to equity. The equity ratio shows a healthy proportion of equity in the asset base, providing financial stability. Despite these strengths, the declining trend in equity and assets warrants monitoring for potential risks.

Cash Flow

The cash flow statement reveals strong free cash flow generation, although growth has slowed. The operating cash flow to net income ratio is favorable, indicating efficient conversion of income into cash. Free cash flow to net income ratio suggests the company is generating cash beyond its net income, providing a buffer for investments and debt servicing. The overall cash flow position is robust, supporting the company's financial flexibility.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	705.24M	709.37M	705.40M	710.59M	784.82M	1.16B
Gross Profit	232.27M	232.51M	234.37M	228.86M	225.08M	232.14M
EBITDA	97.24M	95.99M	105.49M	124.98M	164.98M	138.29M
Net Income	31.30M	24.46M	26.20M	43.65M	83.82M	58.54M
Balance Sheet
Total Assets	736.58M	712.98M	772.61M	820.98M	869.88M	814.73M
Cash, Cash Equivalents and Short-Term Investments	126.43M	179.32M	164.96M	194.47M	207.66M	131.17M
Total Debt	156.14M	165.49M	205.66M	229.57M	259.10M	260.33M
Total Liabilities	274.49M	271.01M	328.09M	360.28M	401.41M	405.99M
Stockholders Equity	462.10M	441.97M	444.52M	460.71M	468.48M	413.60M
Cash Flow
Free Cash Flow	84.53M	102.97M	67.67M	80.27M	148.00M	129.98M
Operating Cash Flow	84.86M	103.31M	70.49M	92.15M	167.34M	133.27M
Investing Cash Flow	-7.20M	-12.18M	-9.10M	-22.54M	6.96M	-1.28M
Financing Cash Flow	-67.91M	-80.38M	-82.39M	-67.80M	-103.80M	-71.52M

Asia Commercial Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.26
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0104, the sentiment is Positive. The current price of 0.26 is above the 20-day moving average (MA) of 0.25, above the 50-day MA of 0.24, and above the 200-day MA of 0.23, indicating a bullish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 51.91 is Neutral, neither overbought nor oversold. The STOCH value of 43.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0104.

Asia Commercial Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
0104	73 Outperform	HK$190.52M	7.77	5.52%	13.65%	0.56%	-6.55%
Sector *	61 Neutral	C$4.60B	8.21	13.40%	3.76%	3.56%	-0.43%
LMR3	―		―	17.88%	―	―	―
1861	75 Outperform	HK$371.93M	10.92	10.74%	2.27%	10.00%	-40.16%
1572	53 Neutral	HK$157.22M	32.07	0.41%	―	16.97%	-59.72%
1020	45 Neutral	HK$257.13M	―	-108.05%	―	-17.29%	-114.00%
0620	―	HK$455.22M	―	-2.73%	―	―	―

Asia Commercial Holdings Limited Corporate Events

Asia Commercial Holdings Limited Announces Key AGM Agenda and Share Repurchase Plan

Asia Commercial Holdings Limited has announced its upcoming Annual General Meeting scheduled for August 27, 2025, where it will address several key business matters. These include the consideration of audited financial statements, the declaration of a final dividend, re-election of directors, and authorization of directors’ and auditor’s remuneration. Additionally, the company seeks approval for a share repurchase program, allowing the repurchase of up to 10% of its issued shares, which could impact its market positioning by potentially increasing shareholder value.

Asia Commercial Holdings Limited Reports Annual Results for 2025

Asia Commercial Holdings Limited reported its annual results for the year ending March 31, 2025, showing a slight increase in revenue to HK$709 million, up 1% from the previous year. However, the company experienced an 8% decrease in profit attributable to owners, totaling HK$24 million. The financial results indicate a challenging year with a decrease in total assets by 8% and a reduction in the proposed final dividend by 23%, reflecting the company’s cautious approach amidst market uncertainties.

Asia Commercial Holdings Declares Final Dividend for FY 2025

Asia Commercial Holdings Limited has announced a final ordinary cash dividend of HKD 0.02677 per share for the financial year ending March 31, 2025. The dividend will be paid on September 16, 2025, following shareholder approval on August 27, 2025. This announcement reflects the company’s ongoing commitment to returning value to its shareholders.

Asia Commercial Holdings Schedules Board Meeting for Financial Results Approval

Asia Commercial Holdings Limited has announced a board meeting scheduled for June 26, 2025, to approve the final results for the fiscal year ending March 31, 2025. This meeting is significant as it will determine the company’s financial performance and could impact its market positioning and stakeholder interests.

Asia Commercial Holdings Issues Profit Warning Amid Market Challenges

Asia Commercial Holdings Limited has issued a profit warning, indicating a projected net profit of not less than HK$18 million for the year ended 31 March 2025, a decrease of approximately 31% from the previous year. The decline is attributed to increased revaluation losses on investment properties and higher income tax expenses, although these were partially offset by a government subsidy. Despite these challenges, the company’s core business operations have remained stable, maintaining a satisfactory financial position.