Tai Ping Carpets International (0146) AI Stock Analysis

• Market Cap: HK$388.30M
• Dividend Yield: 6.49%
• Average Volume (3M): 38.03K
• Price to Earnings (P/E): 8.9
• Beta (1Y): 0.03
• Revenue Growth: 2.90%
• EPS Growth: 3.93%
• Country: HK
• Employees: 746
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Apparel - Manufacturers
• EPS (TTM): 0.10
• Shares Outstanding: 212,187,480
• 10 Day Avg. Volume: 7,700
• 30 Day Avg. Volume: 38,035
• PEG Ratio: 1.41
• Price to Book (P/B): 0.64
• Price to Sales (P/S): 0.47
• P/FCF Ratio: 0.00
• 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: 75 Outperform
• Price Target: HK$1.50 ▼(-20.63% Downside)

Tai Ping Carpets International is well-positioned with strong financial performance, particularly in cash flow generation and efficient operations. The stock's technical indicators show bullish momentum despite an overbought RSI, suggesting potential caution. The company's valuation is compelling with a low P/E ratio and high dividend yield, making it attractive for value and income-focused investors.

Positive Factors

Cash Generation

Strong cash generation supports operational needs and growth opportunities, ensuring financial flexibility and resilience.

Financial Stability

A strong equity position and low debt-to-equity ratio indicate financial stability and prudent leverage, enhancing long-term viability.

Governance Enhancement

Improved governance and diversity through a new committee can strengthen strategic direction and stakeholder confidence, benefiting long-term growth.

Negative Factors

Profitability Concerns

Moderate return on equity suggests limited profitability relative to shareholder investment, which may hinder long-term value creation.

Revenue Growth Slowdown

Moderate revenue growth may indicate market saturation or competitive pressures, potentially limiting expansion and affecting long-term performance.

EPS Decline

A significant decline in EPS growth suggests challenges in profitability, potentially impacting investor confidence and future earnings potential.

Tai Ping Carpets International Business Overview & Revenue Model

Company Description

Tai Ping Carpets International Limited designs, manufactures, imports, exports, and sells carpets in Asia, Europe, the Middle East, the United States, and Africa. The company also manufactures and sells yarns; and provides yarn dyeing activities. It offers its products for luxury residential, private yachts and jets, boutique stores, corporate offices, and luxury hotels and resorts. The company was founded in 1956 and is headquartered in Cheung Sha Wan, Hong Kong.

How the Company Makes Money

Tai Ping Carpets International generates revenue through the design, production, and sale of bespoke carpet solutions. Its primary revenue streams include sales to luxury residences, commercial installations, and the hospitality industry, where custom designs are commissioned for hotels and resorts. The company also collaborates with designers and architects to create exclusive collections, enhancing its offerings and appeal in the high-end market. Additionally, Tai Ping benefits from its global distribution network, enabling it to reach a broad clientele, supported by its reputation for quality and innovation in carpet design.

Tai Ping Carpets International Financial Statement Overview

Summary

Tai Ping Carpets International exhibits solid financial health across all key areas. The income statement reflects positive growth and efficient operations, the balance sheet demonstrates sound financial management with low leverage, and the cash flow statement highlights strong cash generation capabilities. The company is well-positioned for sustained growth with a balanced financial structure.

Income Statement

The company demonstrated strong growth in revenue with a 6.59% increase from the previous year and an improving net profit margin of 6.58%. Gross profit margin is robust at 61.70%, signaling efficient cost management. Both EBIT and EBITDA margins are healthy, at 7.11% and 15.37% respectively, showing operational efficiency improvements. Overall, the income statement reflects a positive growth trajectory with stable profitability.

Balance Sheet

The company maintains a healthy equity position with an equity ratio of 54.63%, suggesting financial stability. The debt-to-equity ratio is low at 0.25, indicating prudent leverage usage. Return on equity is 9.26%, reflecting moderate profitability relative to shareholder investment. The balance sheet is stable with strong equity and manageable debt levels, though there is room for improvement in asset utilization.

Cash Flow

Cash flow generation is strong, with a significant 63.87% growth in free cash flow. The operating cash flow to net income ratio is 2.59, indicating robust cash generation from operations. The free cash flow to net income ratio of 2.15 showcases effective cash conversion. Overall, cash flows are healthy, supporting operational needs and potential growth opportunities.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	658.81M	640.22M	600.60M	583.66M	481.38M
Gross Profit	401.65M	395.01M	359.91M	330.82M	280.10M
EBITDA	68.87M	96.57M	90.80M	81.07M	78.18M
Net Income	43.78M	42.11M	38.42M	25.27M	16.63M
Balance Sheet
Total Assets	874.29M	832.57M	792.87M	788.01M	784.88M
Cash, Cash Equivalents and Short-Term Investments	300.01M	263.32M	217.66M	195.96M	178.17M
Total Debt	138.89M	114.26M	124.12M	107.22M	129.37M
Total Liabilities	394.65M	377.63M	364.27M	358.88M	360.09M
Stockholders Equity	479.64M	454.94M	428.59M	429.13M	424.78M
Cash Flow
Free Cash Flow	0.00	93.48M	55.31M	71.94M	82.36M
Operating Cash Flow	0.00	109.16M	68.76M	85.48M	98.23M
Investing Cash Flow	0.00	-141.55M	26.30M	-42.40M	-14.20M
Financing Cash Flow	0.00	-49.82M	-42.03M	-51.17M	-48.85M

Tai Ping Carpets International Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.89
• 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:0146, the sentiment is Positive. The current price of 1.89 is above the 20-day moving average (MA) of 1.84, above the 50-day MA of 1.79, and above the 200-day MA of 1.46, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 53.01 is Neutral, neither overbought nor oversold. The STOCH value of 38.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0146.

Tai Ping Carpets International Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
0146	75 Outperform	HK$388.30M	8.87	9.37%	6.49%	2.90%	3.93%
1749	65 Neutral	HK$104.05M	3.01	11.95%	12.12%	-7.88%	-4.49%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
3778	51 Neutral	HK$351.91M	-17.36	-2.76%	4.55%	-1.24%	5.98%
1825	48 Neutral	HK$36.29M	-2.14	-59.04%	―	-26.68%	-60.46%
2223	48 Neutral	HK$201.13M	-15.20	-3.62%	―	-9.34%	-177.30%
1906	46 Neutral	HK$647.29M	-24.72	-6.24%	―	5.88%	16.82%

Tai Ping Carpets International Corporate Events

Tai Ping Carpets Renews Supply Agreement with HSH

Tai Ping Carpets International Limited has announced the renewal of its Products and Services Supply Agreement with HSH, extending the partnership until December 2028. This renewal, which maintains similar terms to the previous agreement, is part of the company’s strategy to ensure continuity in its business operations and strengthen its market position. The agreement is classified as a continuing connected transaction under Hong Kong’s Listing Rules, requiring reporting and annual review but exempt from independent shareholders’ approval due to the applicable percentage ratio.

The most recent analyst rating on (HK:0146) stock is a Buy with a HK$1.50 price target. To see the full list of analyst forecasts on Tai Ping Carpets International stock, see the HK:0146 Stock Forecast page.

Tai Ping Carpets Announces AGM Results and Leadership Changes

Tai Ping Carpets International Limited held its Annual General Meeting on December 5, 2025, where all proposed resolutions were approved by shareholders. Key outcomes include the distribution of a final dividend, the appointment of Mr. Lung Chi Sing Alex as an executive director, and the retirement of non-executive directors Mr. John Jeffrey Ying and Mr. Leong Kwok Fai Nelson. The company also addressed non-compliance with a listing rule, but all resolutions passed smoothly, indicating stable governance and shareholder satisfaction.

The most recent analyst rating on (HK:0146) stock is a Buy with a HK$1.50 price target. To see the full list of analyst forecasts on Tai Ping Carpets International stock, see the HK:0146 Stock Forecast page.

Tai Ping Carpets Announces Board and Committee Structure

Tai Ping Carpets International Limited announced the composition of its board of directors and the roles within its committees. The announcement highlights the leadership structure, which includes executive, non-executive, and independent non-executive directors, along with the establishment of four key committees: Executive, Audit, Remuneration, and Nomination. This organizational structure is crucial for the company’s governance and strategic decision-making, potentially impacting its operational efficiency and stakeholder confidence.

The most recent analyst rating on (HK:0146) stock is a Buy with a HK$1.50 price target. To see the full list of analyst forecasts on Tai Ping Carpets International stock, see the HK:0146 Stock Forecast page.

Tai Ping Carpets Announces 2025 AGM Agenda

Tai Ping Carpets International Limited has announced its upcoming Annual General Meeting (AGM) scheduled for December 5, 2025, in Hong Kong. Key agenda items include the consideration of the company’s audited financial statements, the declaration of a final dividend, re-election of directors, and the appointment of a new executive director. The AGM will also address the re-appointment of KPMG as the company’s auditor. Shareholders are encouraged to participate in the meeting, with provisions for proxy voting available.

The most recent analyst rating on (HK:0146) stock is a Buy with a HK$1.50 price target. To see the full list of analyst forecasts on Tai Ping Carpets International stock, see the HK:0146 Stock Forecast page.

Tai Ping Carpets Proposes Election of New Executive Director

Tai Ping Carpets International Limited has announced the proposed election of Mr. Lung Chi Sing Alex as an executive director at its upcoming annual general meeting on December 5, 2025. Mr. Lung, currently the Chief Financial Officer and Company Secretary, brings extensive experience from previous roles in finance and management, and his appointment is expected to strengthen the company’s leadership team.

The most recent analyst rating on (HK:0146) stock is a Buy with a HK$1.50 price target. To see the full list of analyst forecasts on Tai Ping Carpets International stock, see the HK:0146 Stock Forecast page.