Associated International Hotels Limited (0105) AI Stock Analysis

• Market Cap: HK$1.89B
• Dividend Yield: 7.31%
• Average Volume (3M): 4.87K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.10
• Revenue Growth: -2.39%
• EPS Growth: 61.81%
• Country: HK
• Employees: 36
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Services
• EPS (TTM): -0.41
• Shares Outstanding: 360,000,000
• 10 Day Avg. Volume: 8,200
• 30 Day Avg. Volume: 4,866
• PEG Ratio: 0.01
• Price to Book (P/B): 0.25
• Price to Sales (P/S): 5.96
• P/FCF Ratio: 12.69
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 49 Neutral
• Price Target: HK$5.00 ▼(-3.85% Downside)

The overall stock score is primarily influenced by the company's financial performance and technical analysis. Significant financial challenges, including negative profitability metrics and limited cash flow improvements, weigh heavily on the score. Technical indicators further suggest bearish momentum. While the high dividend yield is a positive aspect, it is overshadowed by the negative P/E ratio and overall financial difficulties.

Positive Factors

Strong Gross Profit Margin

A strong gross profit margin indicates effective cost management and pricing power, which can support long-term profitability despite current challenges.

Low Leverage

Low leverage provides financial flexibility and reduces risk, allowing the company to navigate economic downturns and invest in growth opportunities.

Cash Generation Ability

Good cash generation relative to net income indicates the company's ability to sustain operations and invest in future growth, despite profitability issues.

Negative Factors

Negative Net Profit Margin

A deeply negative net profit margin reflects substantial losses, which can hinder reinvestment in the business and affect long-term viability.

Negative Return on Equity

Negative return on equity suggests inefficient use of shareholder funds, which can deter investment and impact future growth potential.

Negative Free Cash Flow Growth

Negative free cash flow growth limits the company's ability to fund new projects, pay down debt, or return capital to shareholders, impacting long-term strategic flexibility.

Associated International Hotels Limited Business Overview & Revenue Model

Company Description

Associated International Hotels Limited (0105) is a hospitality management company focused on the development and operation of hotels and resorts across various international markets. The company operates in the hospitality sector, offering a range of services including hotel management, consultancy, and development services. Its portfolio comprises a mix of owned, leased, and managed properties, catering to both leisure and business travelers with premium accommodations and amenities.

How the Company Makes Money

The company generates revenue primarily through hotel management fees, which are earned from managing properties on behalf of owners. These fees typically include base management fees, which are a percentage of the hotel's gross revenue, and incentive fees based on the hotel's performance. Additionally, Associated International Hotels Limited earns income from leasing its owned properties, as well as from consultancy services provided to other hotel owners and developers. The company may also benefit from partnerships with travel agencies, online booking platforms, and tour operators, which can drive occupancy rates and enhance revenue through increased bookings. Seasonal promotions and loyalty programs further contribute to revenue by encouraging repeat business and attracting new customers.

Associated International Hotels Limited Financial Statement Overview

Summary

The company faces significant financial challenges, with a deeply negative net profit margin and negative EBIT and EBITDA margins, indicating operational difficulties. Despite a strong gross profit margin and low leverage, the negative return on equity and limited cash flow improvements highlight profitability and liquidity concerns.

Income Statement

The company has experienced significant volatility in its income statement metrics. Despite a strong gross profit margin of 68.4% in the latest year, the net profit margin is deeply negative at -187.5%, indicating substantial losses. Revenue growth is positive at 0.75%, but the EBIT and EBITDA margins are also negative, reflecting operational challenges.

Balance Sheet

The balance sheet shows a strong equity position with a low debt-to-equity ratio of 0.028, suggesting low leverage. However, the return on equity is negative, indicating that the company is not generating positive returns on its equity base. The equity ratio is healthy, reflecting a solid capital structure.

Cash Flow

Cash flow metrics reveal a mixed picture. The operating cash flow to net income ratio is above 1, indicating good cash generation relative to net income. However, free cash flow growth is negative, and the free cash flow to net income ratio is close to 1, suggesting limited cash flow improvements.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	296.78M	299.01M	292.14M	299.28M	301.32M	434.18M
Gross Profit	203.24M	204.53M	197.84M	213.93M	212.15M	341.82M
EBITDA	-47.34M	-520.03M	417.74M	192.03M	-1.09B	-1.47B
Net Income	-571.20M	-560.63M	376.76M	-1.58B	-1.12B	-1.53B
Balance Sheet
Total Assets	7.84B	7.61B	8.32B	8.07B	9.80B	11.06B
Cash, Cash Equivalents and Short-Term Investments	591.12M	510.84M	506.52M	452.42M	440.76M	373.70M
Total Debt	200.00M	200.00M	201.41M	201.49M	200.00M	201.65M
Total Liabilities	561.11M	465.80M	461.53M	449.54M	482.93M	481.00M
Stockholders Equity	7.28B	7.15B	7.86B	7.62B	9.32B	10.58B
Cash Flow
Free Cash Flow	160.29M	140.43M	181.96M	132.26M	185.82M	145.93M
Operating Cash Flow	160.82M	143.24M	183.69M	137.19M	187.99M	147.63M
Investing Cash Flow	24.69M	20.10M	22.55M	-4.31M	18.80M	-12.71M
Financing Cash Flow	-276.09M	-159.03M	-152.15M	-121.22M	-139.72M	-183.13M

Associated International Hotels Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 5.20
• 50DMA: Negative
• 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:0105, the sentiment is Neutral. The current price of 5.2 is below the 20-day moving average (MA) of 5.24, below the 50-day MA of 5.27, and above the 200-day MA of 5.03, indicating a neutral trend. The MACD of -0.01 indicates Positive momentum. The RSI at 31.89 is Neutral, neither overbought nor oversold. The STOCH value of 34.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:0105.

Associated International Hotels Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
0071	69 Neutral	$6.67B	9.60	3.35%	5.22%	-2.09%	-28.30%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
0014	61 Neutral	$16.57B	-52.25	-0.48%	6.09%	2.60%	50.07%
1686	60 Neutral	€13.62B	13.82	18.68%	2.33%	9.90%	7.68%
2602	58 Neutral	HK$26.21B	20.66	7.08%	1.63%	5.75%	-31.63%
0105	49 Neutral	HK$1.89B	-3.37	-3.07%	7.31%	-2.39%	61.81%

Associated International Hotels Limited Corporate Events

Associated International Hotels Limited AGM Results: Resolutions Approved

Associated International Hotels Limited successfully held its Annual General Meeting on September 5, 2025, where all proposed resolutions were approved by shareholders. Key resolutions included the adoption of financial statements, declaration of a final dividend, re-election of directors, and amendments to the Articles of Association, indicating strong shareholder support and stable governance.

The most recent analyst rating on (HK:0105) stock is a Hold with a HK$5.50 price target. To see the full list of analyst forecasts on Associated International Hotels Limited stock, see the HK:0105 Stock Forecast page.