QPL International Holdings (0243) AI Stock Analysis

• Market Cap: HK$129.93M
• Dividend Yield: N/A
• Average Volume (3M): 1.04M
• Price to Earnings (P/E): 0.4
• Beta (1Y): 0.96
• Revenue Growth: 8.26%
• EPS Growth: N/A
• Country: HK
• Employees: 706
• Sector: Technology
• Sector Strength: 88
• Industry: Semiconductors
• EPS (TTM): 0.25
• Shares Outstanding: 346,490,540
• 10 Day Avg. Volume: 717,674
• 30 Day Avg. Volume: 1,040,629
• PEG Ratio: 0.50
• Price to Book (P/B): 0.16
• Price to Sales (P/S): 0.17
• P/FCF Ratio: 5.09
• 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: 54 Neutral
• Price Target: HK$0.39 ▲(4.86% Upside)
• Action: Reiterated Date: 02/04/26
• Date: Action: Reiterated 02/04/26

The score is held back primarily by weak profitability and cash-flow deterioration despite revenue growth and low leverage. Technicals are supportive (price above key moving averages with positive MACD and moderate RSI), and valuation appears inexpensive on P/E, but fundamentals remain the key constraint.

Positive Factors

High gross margin

A gross margin above 50% indicates the distribution model captures meaningful markups on components. Structurally this margin provides a durable buffer versus supplier price moves and supports the ability to cover fixed costs and restore operating profits if SG&A and cash conversion trends improve.

Low financial leverage

A debt-to-equity near 0.18 reflects a conservative capital structure that preserves flexibility to fund working capital and manage cyclical demand in semiconductors. Low leverage reduces refinancing risk and supports resilience to supply shocks or seasonal inventory needs over the medium term.

Stable revenue growth

Consistent mid-single-digit revenue growth signals steady demand for electronic components across the company's markets. Durable top-line expansion supports scale benefits, strengthens supplier/customer relationships, and provides a foundation to improve margins through operating leverage and tighter inventory management.

Negative Factors

Negative operating profitability

Net margin below zero and negative EBIT/EBITDA indicate the company currently fails to cover operating costs despite healthy gross margins. Persisting operating losses erode retained capital, limit reinvestment, and imply structural issues in cost control, pricing, or business mix that must be resolved for lasting profitability.

Weak cash conversion

Severely negative FCF growth and an operating-cash-to-income ratio near 0.1 show earnings are not translating into cash. For a distributor, poor cash conversion stresses inventory procurement and supplier terms, raises the need for external funding, and reduces financial resilience across 2–6 months.

Low/negative return on equity

A negative ROE means capital employed is not generating adequate returns, signaling weak value creation for shareholders. Over time this constrains the company’s ability to attract investment, finance growth organically, and negotiate favorable commercial terms that depend on visible, sustained returns.

QPL International Holdings Business Overview & Revenue Model

Company Description

QPL International Holdings Limited, an investment holding company, manufactures and sells integrated circuit leadframes, heatsinks, stiffeners, and related products for semiconductor industry companies. Its products include small outline integrated circuits, quad flat packages, thin quad flat packages, plastic dual in line packages, plastic leaded chip carriers, lead on chips, and thermal enhanced products, as well as HD-BU, HDL, and quad flat non-lead package products. The company also trades in securities; and invests in properties, as well as provides financial assistance and advance services. It primarily serves customers in the United States, Hong Kong, Europe, the People's Republic of China, the Philippines, Malaysia, Singapore, and Thailand. The company was founded in 1982 and is headquartered in Tsuen Wan, Hong Kong.

How the Company Makes Money

QPL International Holdings generates revenue primarily through the sale of its packaging products across various sectors. The company has established key revenue streams from its flexible packaging solutions, which cater to the growing demand for sustainable and innovative packaging in multiple industries. Additionally, revenue is bolstered by the production of labels and custom packaging solutions, which offer higher margins. Strategic partnerships with major clients in the food, beverage, and personal care sectors further enhance its market presence and contribute to consistent earnings. The company's commitment to quality and customer service fosters repeat business and long-term contracts, contributing significantly to its overall financial performance.

QPL International Holdings Financial Statement Overview

Summary

Mixed fundamentals: modest revenue growth (+5.94%) and strong gross margin (52.42%) are offset by negative profitability (net margin -0.35% with negative EBIT/EBITDA margins) and weak cash generation (free cash flow growth -204.89%, low operating cash flow to net income at 0.10). Balance sheet leverage is conservative (debt-to-equity 0.18), but ROE is negative (-0.33%).

Income Statement

QPL International Holdings has shown a mixed performance in its income statement. The company experienced a revenue growth of 5.94% in the most recent year, indicating a positive trend. However, the net profit margin remains negative at -0.35%, reflecting ongoing profitability challenges. The gross profit margin is relatively strong at 52.42%, suggesting efficient production processes. Despite these strengths, the negative EBIT and EBITDA margins highlight operational inefficiencies that need addressing.

Balance Sheet

The balance sheet of QPL International Holdings shows a stable financial position with a debt-to-equity ratio of 0.18, indicating low leverage and a conservative capital structure. However, the return on equity is negative at -0.33%, which is a concern for shareholder returns. The equity ratio stands at a healthy level, suggesting a strong asset base relative to liabilities.

Cash Flow

The cash flow statement reveals some challenges, with a significant decline in free cash flow growth at -204.89%. The operating cash flow to net income ratio is low at 0.10, indicating potential issues in converting income into cash. However, the free cash flow to net income ratio is relatively high at 0.72, suggesting some ability to generate cash despite net losses.

Breakdown	Apr 2024	Apr 2023	Apr 2022	Apr 2021	Apr 2021
Income Statement
Total Revenue	301.45M	262.70M	312.93M	488.05M	368.32M
Gross Profit	158.01M	49.29M	158.77M	86.75M	206.86M
EBITDA	-2.67M	-46.91M	-9.90M	34.21M	9.13M
Net Income	-1.06M	-61.39M	-34.32M	10.10M	-12.21M
Balance Sheet
Total Assets	465.07M	461.29M	529.76M	629.62M	611.21M
Cash, Cash Equivalents and Short-Term Investments	144.23M	121.12M	150.90M	177.17M	248.75M
Total Debt	58.76M	52.34M	58.77M	113.58M	124.59M
Total Liabilities	141.97M	136.82M	142.33M	219.12M	219.29M
Stockholders Equity	323.10M	324.46M	387.44M	410.50M	391.92M
Cash Flow
Free Cash Flow	10.17M	-1.31M	26.04M	-68.18M	-16.14M
Operating Cash Flow	14.16M	2.94M	34.79M	-51.42M	-8.25M
Investing Cash Flow	703.00K	-3.63M	-8.28M	-48.34M	-16.18M
Financing Cash Flow	4.69M	-10.72M	-43.12M	-4.48M	57.24M

QPL International Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.37
• 50DMA: Negative
• 100DMA: Negative
• 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:0243, the sentiment is Negative. The current price of 0.37 is below the 20-day moving average (MA) of 0.41, below the 50-day MA of 0.40, and above the 200-day MA of 0.35, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 43.01 is Neutral, neither overbought nor oversold. The STOCH value of 28.57 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0243.

QPL International Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
8257	59 Neutral	HK$244.00M	2.44	3.83%	―	-13.07%	-34.88%
1967	57 Neutral	HK$117.00M	47.44	-2.54%	―	-6.45%	-596.43%
0243	54 Neutral	HK$129.93M	0.40	17.56%	―	8.26%	―
1912	46 Neutral	HK$65.23M	-0.60	―	―	―	―
1679	45 Neutral	HK$114.38M	-3.94	―	―	37.63%	56.51%
8490	41 Neutral	HK$88.19M	-1.39	-41.46%	―	-26.02%	-4977.27%

QPL International Holdings Corporate Events

QPL International Releases Unaudited Interim Results for Six Months Ended October 2025

QPL International Holdings Limited has released its unaudited consolidated interim results for the six months ended 31 October 2025, covering the performance of the company and its subsidiaries. The interim report, which complies with Hong Kong listing requirements, has been published online and will be sent in printed form to shareholders in due course, signalling continued regulatory compliance and transparency in financial reporting for investors and market participants.

The most recent analyst rating on (HK:0243) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on QPL International Holdings stock, see the HK:0243 Stock Forecast page.

QPL International Holdings Projects Significant Profit Surge

QPL International Holdings Limited has announced a positive profit alert, indicating a significant increase in its expected consolidated profit for the six months ended 31 October 2025, ranging from HK$74.0 million to HK$78.0 million, compared to HK$11.3 million in the previous year. This substantial growth is primarily attributed to an unaudited net fair value gain on financial assets, highlighting a strong financial performance and potentially enhancing the company’s market position.

The most recent analyst rating on (HK:0243) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on QPL International Holdings stock, see the HK:0243 Stock Forecast page.