Asia Standard International Group (0129) AI Stock Analysis

• Market Cap: HK$323.90M
• Dividend Yield: N/A
• Average Volume (3M): 440.97K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.57
• Revenue Growth: 154.99%
• EPS Growth: 32.20%
• Country: HK
• Employees: 240
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): -0.24
• Shares Outstanding: 1,420,635,400
• 10 Day Avg. Volume: 214,591
• 30 Day Avg. Volume: 440,972
• PEG Ratio: <0.01
• Price to Book (P/B): 0.04
• Price to Sales (P/S): 0.30
• P/FCF Ratio: -0.48
• 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: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 42 Neutral
• Price Target: HK$0.22 ▼(-11.20% Downside)

The score is driven primarily by weak financial performance, including steep revenue decline, heavy losses, and high leverage with negative ROE. Technical indicators are also bearish with the price below key moving averages and a negative MACD, though oversold RSI/Stoch slightly temper the downside. Valuation is constrained by negative earnings (negative P/E) and no dividend yield data.

Positive Factors

Diversified Business Model

The group's operations span development, investment, hotels, serviced apartments and property management, creating multiple revenue streams and operational synergies. This diversification helps stabilize cash flows across property cycles and supports cross-selling, enhancing resilience over months.

High Gross Profit Margin

A gross margin of 63.99% implies strong direct profitability on development and asset sales, indicating pricing power or a favorable cost base. This gross-margin cushion can absorb SG&A and financing costs and supports margin recovery as revenue normalizes over several quarters.

Improved Free Cash Flow Generation

Free cash flow growth of 1144% and FCF to net income near parity show markedly improved cash conversion. Stronger cash generation reduces near-term refinancing pressure, supports working capital and selective investment, and provides durable liquidity optionality over the medium term.

Negative Factors

Sharp Revenue Decline

A 42% revenue decline signals material demand shortfall or project timing delays in core segments. Lower top-line scale erodes operating leverage and recurring cash inflows in a capital-intensive real estate business, extending the timeframe needed to restore normalized profitability.

High Leverage and Negative ROE

Debt-to-equity of 1.36 combined with ROE of -32% indicates heavy leverage amid losses. Elevated leverage constrains strategic flexibility, raises refinancing and covenant risk, and increases financing costs, undermining the company's ability to fund developments or absorb downturns over the medium term.

Deep Operating Losses

Net margin of -155.8% and negative EBIT/EBITDA show the business is loss-making at the operating level. Persistent operating losses can deplete equity, force asset sales or restructuring, and impair long-term viability unless operational or strategic fixes restore sustainable profitability.

Asia Standard International Group Business Overview & Revenue Model

Company Description

Asia Standard International Group Limited, an investment holding company, invests in, develops, and manages commercial, residential, retail, and hotel properties in Hong Kong, China, and Canada. It operates through four segments: Property Sales, Property Leasing, Hotel and Travel, and Financial Investments. The company also owns and operates five hotels under the Empire brand name in Hong Kong. In addition, it provides real estate agency, financing, management, project management, securities investment, travel agency, and construction services. The company was founded in 1984 and is based in Wan Chai, Hong Kong. Asia Standard International Group Limited is a subsidiary of Asia Orient Holdings Limited.

How the Company Makes Money

Asia Standard International Group generates revenue through various key streams. The primary source comes from real estate development, where the company develops residential and commercial properties for sale or lease. This includes significant projects in Hong Kong and mainland China, capitalizing on the region's growing demand for housing and commercial space. Another crucial revenue stream is from the hospitality sector, where the company operates hotels and serviced apartments, generating income from room bookings and ancillary services. Additionally, the company earns revenue through property management services, which involve managing and maintaining properties for third-party owners. Strategic partnerships with other real estate firms and financial institutions also contribute to its earnings by providing access to capital and development opportunities.

Asia Standard International Group Financial Statement Overview

Summary

The company is facing significant financial challenges, including declining revenues and substantial losses. High leverage and negative returns on equity further contribute to financial instability. Despite improvements in free cash flow generation, the overall financial health remains concerning.

Income Statement

The income statement reveals a challenging financial situation for Asia Standard International Group. The company has experienced a significant decline in revenue, with a negative revenue growth rate of -42% in the latest year. Gross profit margin remains relatively strong at 63.99%, but the net profit margin is deeply negative at -155.80%, indicating substantial losses. EBIT and EBITDA margins are also negative, reflecting operational inefficiencies and high costs. Overall, the income statement suggests financial instability and a need for strategic improvements.

Balance Sheet

The balance sheet shows a high debt-to-equity ratio of 1.36, indicating significant leverage and potential financial risk. The return on equity is negative at -32.09%, highlighting the company's inability to generate profits from shareholders' equity. The equity ratio stands at 37.79%, suggesting a moderate level of equity financing. While the company has a substantial asset base, the high leverage and negative ROE are concerning and suggest financial vulnerability.

Cash Flow

The cash flow statement presents a mixed picture. The company has achieved a remarkable free cash flow growth rate of 1144.26%, indicating improved cash generation capabilities. However, the operating cash flow to net income ratio is low at 0.26, suggesting that operating cash flows are not sufficient to cover net income losses. The free cash flow to net income ratio is relatively strong at 0.98, indicating that the company is generating cash flow close to its net income. Overall, while cash flow generation has improved, the company still faces challenges in aligning cash flows with profitability.

Breakdown	TTM	Dec 2024	Dec 2024	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.29B	1.74B	2.41B	2.07B	2.51B	2.38B
Gross Profit	1.54B	1.58B	1.54B	1.82B	2.28B	1.99B
EBITDA	887.58M	-5.47B	-2.73B	1.67B	-649.49M	1.88B
Net Income	-3.75B	-5.79B	-3.75B	801.41M	-883.58M	727.98M
Balance Sheet
Total Assets	30.93B	34.14B	30.93B	37.90B	35.02B	38.24B
Cash, Cash Equivalents and Short-Term Investments	2.01B	3.43B	2.01B	7.05B	6.55B	15.04B
Total Debt	15.94B	17.76B	15.94B	16.55B	17.33B	18.29B
Total Liabilities	19.23B	19.46B	19.23B	17.93B	18.61B	19.38B
Stockholders Equity	11.69B	14.45B	11.69B	19.44B	16.01B	18.23B
Cash Flow
Free Cash Flow	1.90B	-1.06B	2.11B	-912.57M	-997.64M	997.16M
Operating Cash Flow	1.96B	-1.02B	2.16B	-858.21M	-721.65M	1.07B
Investing Cash Flow	-90.97M	-193.44M	-351.54M	41.28M	-309.13M	-1.61B
Financing Cash Flow	-1.89B	1.22B	-1.91B	-758.77M	31.02M	1.74B

Asia Standard International Group Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.25
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0129, the sentiment is Negative. The current price of 0.25 is below the 20-day moving average (MA) of 0.25, below the 50-day MA of 0.28, and below the 200-day MA of 0.31, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 41.49 is Neutral, neither overbought nor oversold. The STOCH value of 33.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0129.

Asia Standard International Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
1226	47 Neutral	HK$309.45M	2.05	65.83%	―	35.11%	―
0129	42 Neutral	HK$323.90M	-0.09	-28.90%	―	154.99%	32.20%
0612	42 Neutral	HK$523.08M	-4.65	-20.26%	―	-166.78%	85.53%
1835	40 Underperform	HK$222.34M	-27.74	-2.82%	―	78.92%	75.20%

Asia Standard International Group Corporate Events

Asia Standard International Sees Revenue Surge Despite Losses

Asia Standard International Group Limited reported a significant increase in revenue for the six months ended September 30, 2025, with a 237% rise compared to the same period in 2024. Despite this revenue growth, the company still recorded a loss attributable to shareholders, although this loss decreased by 11% from the previous year. The company’s underlying profit showed a positive turnaround, moving from a loss to a profit. The financial results reflect a decrease in total assets and net debt, indicating improved financial management. The revaluation of hotel properties also showed a slight increase in net assets and shareholders’ equity, suggesting a stable position in the market.

The most recent analyst rating on (HK:0129) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Asia Standard International Group stock, see the HK:0129 Stock Forecast page.

Asia Standard International Announces Board Meeting for Interim Results

Asia Standard International Group Limited has announced an upcoming board meeting scheduled for November 26, 2025. The meeting will focus on approving the interim results for the six months ending September 30, 2025, and considering the recommendation of an interim dividend. This announcement indicates the company’s ongoing commitment to transparency and shareholder engagement, potentially impacting investor confidence and market positioning.

The most recent analyst rating on (HK:0129) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Asia Standard International Group stock, see the HK:0129 Stock Forecast page.

Asia Standard International Streamlines Holdings with Strategic Share Acquisition

Asia Standard International Group Limited has entered into a Sale and Purchase Agreement to acquire the remaining 1.031% of Asia Standard Hotel Group Limited shares, aiming to streamline its corporate structure and reduce administrative costs. This reorganization, involving connected persons, is subject to reporting and announcement requirements but is exempt from shareholders’ approval, indicating a strategic move to consolidate its holdings and enhance operational efficiency.

The most recent analyst rating on (HK:0129) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Asia Standard International Group stock, see the HK:0129 Stock Forecast page.