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Wing On Co. International Ltd.
(0289)
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Rating:54Neutral
Price Target:
HK$13.50
▲(2.35% Upside)
Action:Reiterated
Date:04/26/26
The score is primarily held back by weak and volatile financial performance (declining revenue and significant losses in 2024–2025) despite a very conservative balance sheet. Technicals are supportive but overbought, and valuation is mixed—an attractive dividend yield offset by loss-making results (negative P/E).
Positive Factors
Conservative balance sheet
A near-zero debt-to-equity profile provides durable financial flexibility and materially lowers refinancing and interest-rate risk. This conservative capital structure lets the company fund operations, support dividends or invest selectively during downturns without relying on external borrowing.
Negative Factors
Declining revenue trend
A multi-year top-line decline weakens scale economics and erodes competitive positioning in the department-store segment. Sustained revenue erosion pressures fixed-cost absorption, reduces bargaining power with suppliers, and makes long-term investment in omnichannel or store refreshes harder to justify.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
A near-zero debt-to-equity profile provides durable financial flexibility and materially lowers refinancing and interest-rate risk. This conservative capital structure lets the company fund operations, support dividends or invest selectively during downturns without relying on external borrowing.
Read all positive factors
Wing On Co. International Ltd. (0289) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$3.75B
Dividend Yield6.92%
Average Volume (3M)36.68K
Price to Earnings (P/E)―
Beta (1Y)0.07
Revenue Growth-9.96%
EPS Growth63.93%
CountryHK
Employees531
SectorConsumer Cyclical
Sector Strength84
IndustryDepartment Stores
Share Statistics
EPS (TTM)-1.14
Shares Outstanding288,318,000
10 Day Avg. Volume54,101
30 Day Avg. Volume36,680
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)0.24
Price to Sales (P/S)4.72
P/FCF Ratio21.98
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Wing On Co. International Ltd. Business Overview & Revenue Model
Company Description
Wing On Company International Limited conducts its main business through department store operations across Hong Kong, mainland China, Australia, and the United States. The company's activities are broadly categorized into two principal divisions:...
How the Company Makes Money
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Wing On Co. International Ltd. Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
86
Very Positive
Cash Flow
62
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 851.97M | 946.23M | 1.06B | 1.04B | 1.13B |
| Gross Profit | 450.30M | 578.49M | 662.43M | 667.82M | 738.36M |
| EBITDA | 190.05M | -803.75M | 241.19M | -136.70M | 429.72M |
| Net Income | -330.50M | -919.11M | 123.36M | -300.95M | 552.50M |
Balance Sheet | |||||
| Total Assets | 17.66B | 18.07B | 19.72B | 19.90B | 20.64B |
| Cash, Cash Equivalents and Short-Term Investments | 4.73B | 4.29B | 4.19B | 4.04B | 4.12B |
| Total Debt | 19.81M | 96.20M | 53.39M | 20.84M | 75.61M |
| Total Liabilities | 1.17B | 1.21B | 1.34B | 1.32B | 1.39B |
| Stockholders Equity | 16.46B | 16.83B | 18.36B | 18.55B | 19.22B |
Cash Flow | |||||
| Free Cash Flow | 182.86M | 15.84M | 191.84M | -6.25M | 100.42M |
| Operating Cash Flow | 209.77M | 21.68M | 211.40M | -6.25M | 100.42M |
| Investing Cash Flow | 82.98M | 98.01M | 290.68M | -755.33M | 279.71M |
| Financing Cash Flow | -373.84M | -236.37M | -343.60M | -197.03M | -377.50M |
Wing On Co. International Ltd. Technical Analysis
Negative
13.19
Price Trends
14.16
Negative
13.78
Negative
13.18
Negative
Market Momentum
-0.30
Positive
33.18
Neutral
15.06
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0289, the sentiment is Negative. The current price of 13.19 is below the 20-day moving average (MA) of 13.63, below the 50-day MA of 14.16, and above the 200-day MA of 13.18, indicating a bearish trend. The MACD of -0.30 indicates Positive momentum. The RSI at 33.18 is Neutral, neither overbought nor oversold. The STOCH value of 15.06 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0289.
Wing On Co. International Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
57 Neutral | HK$480.55M | 12.84 | 1.06% | ― | -13.36% | 155.17% | |
54 Neutral | HK$3.75B | -11.70 | -1.99% | 6.92% | -9.96% | 63.93% | |
51 Neutral | HK$864.02M | -24.08 | -0.33% | ― | -3.35% | -55.70% | |
44 Neutral | HK$149.68M | -1.37 | -2.44% | ― | -4.58% | -187.76% | |
43 Neutral | HK$59.80M | -0.18 | 60.23% | ― | -3.71% | 4.06% |
* Consumer Cyclical Sector Average
HK:0289
Wing On Co. International Ltd.
13.01
1.75
15.51%
HK:2136
Lifestyle China Group
0.59
0.18
43.90%
HK:0825
New World Department Store China Limited
0.28
0.00
0.00%
HK:0984
AEON Stores (Hong Kong) Co., Limited
0.24
-0.15
-38.46%
HK:0244
Sincere Co. Ltd.
0.28
0.03
12.00%
HK:0312
Shirble Department Store Holdings (China) Ltd.
0.06
-0.05
-41.67%
Wing On Co. International Ltd. Corporate Events
Wing On Shareholders Back All AGM Resolutions, Renew Board and Mandates
Jun 15, 2026
Wing On Company International Ltd. reported that all resolutions at its 15 June 2026 annual general meeting were approved by shareholders via poll, with no abstentions or voting restrictions and Tricor Investor Services acting as scrutineer. Share...
Wing On Announces Retirement of Independent Director and Audit Committee Changes
Jun 15, 2026
Wing On Company International Ltd. has announced the retirement of independent non-executive director Miss Tam Wai Chu Maria, who has also stepped down from the Audit Committee at the conclusion of the company’s annual general meeting on 15 ...
Wing On Sets Out Board Line-Up and Committee Roles
Jun 15, 2026
Wing On Company International Ltd., incorporated in Bermuda and listed in Hong Kong under stock code 289, is overseen by a board comprising executive and independent non-executive directors. The company maintains standard governance practices thro...
Wing On sets 2026 AGM to seek shareholder approval on dividend, board changes and capital mandates
Apr 23, 2026
Wing On Company International Limited has convened its thirty-fifth annual general meeting for 15 June 2026 in Hong Kong, with a contingency date set for 26 June 2026 in case of severe weather or extreme conditions. Shareholders will review the au...
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.