Top Form International Limited (0333) AI Stock Analysis

• Market Cap: HK$81.28M
• Dividend Yield: N/A
• Average Volume (3M): 11.46K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.29
• Revenue Growth: 20.02%
• EPS Growth: 90.55%
• Country: HK
• Employees: 6,690
• Sector: Consumer Cyclical
• Sector Strength: 58
• Industry: Apparel - Manufacturers
• EPS (TTM): -0.02
• Shares Outstanding: 301,052,670
• 10 Day Avg. Volume: 19,948
• 30 Day Avg. Volume: 11,458
• PEG Ratio: 0.04
• Price to Book (P/B): 0.18
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 7.06
• 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

• Rating: 47 Neutral
• Price Target: HK$0.50 ▲(85.19%Upside)

Top Form International faces challenges with profitability and valuation, significantly impacting its overall score. Short-term technical indicators show bullish signals, but the stock appears overbought, adding risk. The lack of earnings call data prevents further sentiment analysis.

Top Form International Limited Business Overview & Revenue Model

Company Description

Top Form International Limited is a renowned manufacturer in the apparel industry, specializing in the design, production, and distribution of intimate apparel. The company operates primarily in the manufacturing sector, with a strong focus on providing high-quality lingerie products to a global clientele. With a commitment to innovation and excellence, Top Form International serves various markets, catering to both private labels and its brand customers.

How the Company Makes Money

Top Form International Limited generates revenue primarily through the manufacturing and sale of intimate apparel. The company's key revenue streams include direct sales to private labels and branded customers who outsource their production needs to Top Form. The company leverages its extensive manufacturing capabilities and expertise to deliver high-quality products, which are then sold to retailers and directly to brands that market these products under their own labels. Strategic partnerships with major global brands and retailers enhance the company's market reach and revenue potential. Additionally, Top Form's focus on innovation and efficient production processes ensures competitive pricing and profitability.

Top Form International Limited Financial Statement Overview

Summary

Top Form International shows revenue growth and improved cost management, but struggles with profitability. The balance sheet indicates stable equity and better leverage management, yet negative ROE impacts shareholder returns. Cash flow improvements are noted, but consistent profitability is needed.

Income Statement

Top Form International's revenue grew by 12.2% in 2024, showcasing a positive trend compared to 2023. However, the company has struggled with profitability, reporting a negative net income in recent years. The gross profit margin improved from 17.4% in 2023 to 22.6% in 2024, indicating better cost management. Nevertheless, the negative net profit margin and fluctuating EBIT and EBITDA margins highlight ongoing challenges in achieving consistent profitability.

Balance Sheet

The balance sheet shows a relatively stable equity position with a slight increase in stockholders' equity from 2023 to 2024. The debt-to-equity ratio decreased to 0.31 in 2024, reflecting better leverage management. However, the return on equity remains negative, indicating that profitability issues are impacting shareholder returns. The equity ratio slightly improved to 46.6% in 2024, suggesting a moderate financial stability.

Cash Flow

Operating cash flow significantly improved in 2024, nearly doubling from 2023, which is a positive sign of operational efficiency. The free cash flow turned positive, reflecting better cash management and reduced capital expenditures. The free cash flow to net income ratio is unfavorable due to negative net income, but the positive operating cash flow is a highlight in an otherwise challenging financial picture.

Breakdown
TTM	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2020
Income Statement		Total Revenue
1.26B	1.13B	1.01B	1.48B	1.43B	1.24B
	Gross Profit
265.46M	255.49M	175.34M	273.93M	237.98M	180.35M
	EBIT
7.18M	19.27M	-66.69M	23.05M	15.17M	-71.04M
	EBITDA
51.49M	56.81M	-22.15M	68.42M	66.38M	-31.15M
	Net Income Common Stockholders
-7.00M	-2.21M	-84.73M	3.55M	2.80M	-77.23M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
47.09M	102.26M	112.13M	136.49M	92.22M	122.90M
	Total Assets
798.59M	803.36M	800.53M	898.42M	936.48M	844.06M
	Total Debt
110.57M	117.23M	152.96M	141.76M	117.57M	133.36M
	Net Debt
63.48M	14.97M	40.83M	5.28M	25.35M	10.46M
	Total Liabilities
408.55M	407.32M	380.71M	391.10M	425.96M	395.39M
	Stockholders Equity
367.41M	374.62M	373.00M	466.86M	475.54M	425.75M
Cash Flow		Free Cash Flow
9.38M	47.96M	-7.09M	42.59M	-56.28M	-15.37M
	Operating Cash Flow
21.48M	60.71M	23.00M	70.12M	-23.75M	52.67M
	Investing Cash Flow
-14.29M	-5.21M	-29.03M	-25.47M	-22.56M	-79.67M
	Financing Cash Flow
-59.10M	-64.25M	-18.06M	4.75M	16.22M	55.34M

Top Form International Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.27
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0333, the sentiment is Positive. The current price of 0.27 is above the 20-day moving average (MA) of 0.24, above the 50-day MA of 0.24, and below the 200-day MA of 0.27, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 81.87 is Negative, neither overbought nor oversold. The STOCH value of 104.39 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0333.

Top Form International Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2388	78 Outperform	$367.40B	9.61	11.58%	3.35%	8.61%	16.84%
1336	75 Outperform	HK$163.86B	4.14	26.08%	2.47%	-43.77%	―
1910	70 Outperform	$19.55B	8.49	20.15%	7.41%	-4.83%	-27.83%
1177	66 Neutral	$94.43B	49.76	6.14%	2.17%	7.63%	-24.23%
Sector *	62 Neutral	$6.88B	11.07	2.77%	4.28%	2.67%	-24.94%
2298	60 Neutral	HK$454.04M	3.30	6.38%	2.42%	7.08%	190.74%
0333	47 Neutral	HK$81.28M	―	-1.92%	―	20.02%	90.55%

Top Form International Limited Corporate Events

Top Form International Sees Sales Growth Amid Global Trade Challenges

Top Form International Limited reported a 2.5% increase in sales for the third quarter of fiscal 2025, driven by higher demand from the U.S. and European markets. Despite a lower gross profit margin due to changes in customer and product mix, the company remains resilient, focusing on innovation, cost control, and operational efficiency to navigate the challenges posed by volatile global trade conditions and shifting U.S. trade policies.