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Dickson Concepts (International) Limited (HK:0113)
:0113
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Dickson Concepts (International) (0113) AI Stock Analysis

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HK:0113

Dickson Concepts (International)

(OTC:0113)

Rating:67Neutral
Price Target:
HK$5.50
▼(-1.61%Downside)
Dickson Concepts' overall stock score is primarily driven by its strong valuation and solid balance sheet, which are major strengths. However, challenges such as declining revenues and negative cash flow weigh down the score. The technical indicators suggest bearish momentum, which also contributes to a lower overall score.

Dickson Concepts (International) (0113) vs. iShares MSCI Hong Kong ETF (EWH)

Dickson Concepts (International) Business Overview & Revenue Model

Company DescriptionDickson Concepts (International) Limited is a Hong Kong-based company specializing in the retail and distribution of luxury goods. The company operates in the high-end retail sector, offering a wide range of premium products including fashion, cosmetics, and watches. Dickson Concepts is known for holding exclusive distribution rights for several prestigious international brands in Asia, with a strong retail presence in markets such as Hong Kong, China, and Taiwan.
How the Company Makes MoneyDickson Concepts makes money primarily through the retail and distribution of luxury goods. Its revenue model is based on operating upscale department stores and boutiques that sell high-margin products such as high-fashion apparel, luxury skincare and cosmetics, and premium watches. The company holds exclusive distribution agreements with renowned international brands, allowing it to be the sole distributor for these brands in certain Asian markets. This exclusivity ensures a steady stream of income from brand-loyal customers. Additionally, Dickson Concepts engages in strategic partnerships with luxury brands to enhance its product offerings and expand its market reach, thus contributing to its revenue growth.

Dickson Concepts (International) Financial Statement Overview

Summary
Dickson Concepts exhibits strong operational efficiency with solid profit margins, but faces challenges due to declining revenues and negative free cash flow. The balance sheet is robust with low leverage, but the cash flow issues highlight a need for improved cash management.
Income Statement
72
Positive
Dickson Concepts showed a decline in revenue from $2.4 billion to $1.9 billion, leading to a negative revenue growth rate. However, the company maintained a solid gross profit margin of 44.7% and a net profit margin of 10.3% for the latest year. Both EBIT and EBITDA margins are reasonably strong at 14.0% and 19.5%, respectively, indicating efficient operations despite the revenue downturn. Overall, the income statement reflects operational efficiency but a need to reverse the revenue decline.
Balance Sheet
78
Positive
The company exhibits a strong equity position with a debt-to-equity ratio of 0.27 and a high equity ratio of 72.4%. The return on equity stands at 5.6%, showing modest profitability from equity. The balance sheet is robust, with significant cash reserves and a low leverage profile, suggesting financial stability and resilience.
Cash Flow
60
Neutral
The company's free cash flow turned negative in the latest year, dropping from $361.2 million to -$213.8 million, indicating cash management challenges. The operating cash flow to net income ratio is negative, highlighting issues in converting income into cash flow. Despite past strong cash flow performance, the latest figures suggest a need for improved cash management strategies.
BreakdownMar 2025Mar 2024Mar 2023Mar 2022Mar 2021
Income Statement
Total Revenue1.92B2.40B2.13B2.02B2.28B
Gross Profit859.10M1.10B996.11M947.04M975.93M
EBITDA374.08M553.97M453.35M398.04M660.15M
Net Income198.01M350.77M252.64M200.94M461.82M
Balance Sheet
Total Assets4.88B5.36B5.60B5.81B5.44B
Cash, Cash Equivalents and Short-Term Investments4.02B4.12B3.55B3.36B3.48B
Total Debt963.33M1.31B1.70B1.95B1.64B
Total Liabilities1.35B1.79B2.21B2.51B2.20B
Stockholders Equity3.53B3.57B3.39B3.30B3.24B
Cash Flow
Free Cash Flow-213.83M361.22M378.15M426.54M765.01M
Operating Cash Flow-188.90M385.64M426.56M467.20M787.63M
Investing Cash Flow623.04M606.44M104.31M-585.53M-74.19M
Financing Cash Flow-618.14M-666.91M-591.63M-107.50M-774.98M

Dickson Concepts (International) Technical Analysis

Technical Analysis Sentiment
Negative
Last Price5.59
Price Trends
50DMA
6.76
Negative
100DMA
5.97
Negative
200DMA
5.39
Positive
Market Momentum
MACD
-0.28
Positive
RSI
29.85
Positive
STOCH
30.12
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0113, the sentiment is Negative. The current price of 5.59 is below the 20-day moving average (MA) of 6.59, below the 50-day MA of 6.76, and above the 200-day MA of 5.39, indicating a neutral trend. The MACD of -0.28 indicates Positive momentum. The RSI at 29.85 is Positive, neither overbought nor oversold. The STOCH value of 30.12 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0113.

Dickson Concepts (International) Peers Comparison

Overall Rating
UnderperformOutperform
Sector (57)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
78
Outperform
$12.45B11.328.44%5.61%-4.33%-19.79%
76
Outperform
$135.35B23.1622.73%3.64%-17.53%-8.90%
75
Outperform
$5.71B7.146.25%10.71%-15.34%-20.36%
74
Outperform
$3.19B11.614.99%2.50%8.44%-14.06%
67
Neutral
$2.16B11.095.58%8.05%-19.93%-43.35%
57
Neutral
HK$26.04B4.10-2.03%5.50%-0.23%-68.02%
43
Neutral
$1.85B62.16-6.53%-8.30%-661.54%
* Consumer Cyclical Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
HK:0113
Dickson Concepts (International)
5.59
0.72
14.71%
HK:0590
Luk Fook Holdings (International)
21.20
7.23
51.80%
HK:0887
Emperor Watch & Jewellery
0.44
0.29
195.30%
HK:0256
Citychamp Watch & Jewellery Group
0.41
-0.58
-58.59%
HK:1929
Chow Tai Fook Jewellery Group
13.72
6.92
101.82%
HK:0116
Chow Sang Sang Holdings International
8.50
2.41
39.66%

Dickson Concepts (International) Corporate Events

Dickson Concepts Privatization Proposal Lapses
Jul 18, 2025

Dickson Concepts (International) Limited, a company listed on the Stock Exchange of Hong Kong, was involved in a proposal for privatization through a scheme of arrangement by Bestcity Assets Limited. However, the proposal did not receive the necessary approval from the Scheme Shareholders at the Court Meeting, resulting in the lapse of the proposal and the scheme. Consequently, the company’s shares will remain listed, and no changes will be made to its issued share capital. This outcome maintains the status quo for the company’s stakeholders and ensures continued trading of its shares on the stock exchange.

Dickson Concepts Announces Trading Halt Pending Major Announcement
Jul 18, 2025

Dickson Concepts (International) Limited announced a trading halt on its shares on the Hong Kong Stock Exchange, effective from 1:00 p.m. on July 18, 2025. This halt is pending the release of an announcement related to The Code on Takeovers and Mergers, indicating significant inside information that could impact the company’s operations and its stakeholders.

Dickson Concepts Updates Nomination Committee Terms
Jul 2, 2025

Dickson Concepts (International) Limited has updated the terms of reference for its Nomination Committee, effective from July 1, 2025. The committee, primarily composed of Independent Non-Executive Directors, is tasked with overseeing board nominations, assessing board composition, and ensuring the independence of directors. These changes aim to enhance corporate governance and strategic alignment, potentially impacting the company’s leadership structure and stakeholder confidence.

Dickson Concepts Set for Privatization and Delisting
Jun 25, 2025

Dickson Concepts (International) Limited is undergoing a proposed privatization by Bestcity Assets Limited through a scheme of arrangement, which will result in the withdrawal of its listing. The Scheme Document, detailing the proposal and the scheme, will be dispatched to shareholders, with the Independent Board Committee and Independent Financial Adviser recommending shareholders vote in favor of the proposal.

Dickson Concepts Announces Court Meeting for Scheme of Arrangement
Jun 24, 2025

Dickson Concepts (International) Limited has announced a Court Meeting to be held on July 18, 2025, in Hong Kong, as directed by the Supreme Court of Bermuda. The meeting aims to consider and potentially approve a scheme of arrangement between the company and its shareholders. This development could significantly impact the company’s corporate structure and shareholder relations, as the scheme requires court sanction and shareholder approval.

Dickson Concepts Announces Special General Meeting for Share Restructuring
Jun 24, 2025

Dickson Concepts (International) Limited has announced a special general meeting to discuss a special resolution related to a scheme of arrangement. The resolution involves the cancellation and reissuance of shares, maintaining the company’s share capital, and potentially delisting from the Hong Kong Stock Exchange. This move could significantly impact the company’s market presence and shareholder value.

Dickson Concepts Proposes Privatization and Delisting
Jun 18, 2025

Dickson Concepts (International) Limited is undergoing a proposed privatization by Bestcity Assets Limited through a scheme of arrangement, with plans to withdraw its listing from the stock exchange. The company and the offeror are finalizing the Scheme Document, expected to be dispatched by June 25, 2025. The announcement clarifies the shareholding structure, indicating that the offeror and its concert parties hold approximately 65.77% of the shares, while disinterested scheme shares account for 34.23%. This move could significantly impact shareholders and the company’s market positioning.

Dickson Concepts Reports Decline in Annual Profits
Jun 2, 2025

Dickson Concepts (International) Limited reported its financial results for the year ending March 31, 2025, revealing a decline in revenue and profit compared to the previous year. The company experienced a decrease in gross profit and operating profit, attributed to higher administrative expenses and lower other income, impacting its overall financial performance.

Dickson Concepts Schedules Board Meeting for Final Results Approval
May 21, 2025

Dickson Concepts (International) Limited has announced a board meeting scheduled for June 2, 2025, to approve the publication of its final results for the fiscal year ending March 31, 2025. This announcement is crucial for stakeholders as it will provide insights into the company’s financial performance and strategic direction.

Delay in Privatization Scheme for Dickson Concepts
May 20, 2025

Dickson Concepts (International) Limited and Bestcity Assets Limited announced a delay in the dispatch of the scheme document related to the proposed privatization of Dickson Concepts by way of a scheme of arrangement. The delay is due to the need for additional time to finalize the document and accommodate the Supreme Court of Bermuda’s timetable. The scheme’s effectiveness is contingent upon approval at a court meeting, and stakeholders are advised to exercise caution as the proposal’s implementation is uncertain.

Dickson Concepts Issues Profit Warning Amidst Hong Kong Retail Challenges
May 15, 2025

Dickson Concepts (International) Limited has issued a profit warning, anticipating a 20% decrease in sales turnover and a 42% drop in net profit for the year ending March 31, 2025, compared to the previous year. This decline is attributed to weakened consumer sentiment in Hong Kong, driven by changing travel and shopping preferences, and the extension of China’s tax refund policy for foreign visitors, which has made Hong Kong a less attractive shopping destination. The company’s announcement highlights challenges in the retail landscape and advises caution among shareholders and investors.

Dickson Concepts Appoints Adviser for Privatization Proposal
May 7, 2025

Dickson Concepts (International) Limited has announced the appointment of Platinum Securities Company Limited as the Independent Financial Adviser for its proposed privatization by Bestcity Assets Limited. This appointment, approved by the Independent Board Committee, is part of a scheme of arrangement under section 99 of the Companies Act. The adviser will evaluate the fairness and reasonableness of the proposal and guide disinterested shareholders on voting. Shareholders are cautioned that the proposal’s implementation is conditional, and they should seek professional advice if uncertain.

Dickson Concepts Proposes Privatization and Delisting
Apr 29, 2025

Dickson Concepts (International) Limited is undergoing a proposed privatization by Bestcity Assets Limited through a scheme of arrangement under section 99 of the Companies Act. This proposal includes the cancellation of shares with a cash payment of HK$7.20 per share and the withdrawal of the company’s listing from the Stock Exchange. An independent board committee has been established, and trading in the shares has resumed. The proposal’s effectiveness is contingent upon meeting certain conditions, including shareholder approval. The offeror has stated that the cancellation price will not be increased.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jul 22, 2025