Sino Golf Holdings Limited (0361) AI Stock Analysis

• Market Cap: HK$497.36M
• Dividend Yield: N/A
• Average Volume (3M): 47.00M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.01
• Revenue Growth: -5.36%
• EPS Growth: -63.16%
• Country: HK
• Employees: 680
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Leisure
• EPS (TTM): >-0.01
• Shares Outstanding: 5,851,250,000
• 10 Day Avg. Volume: 63,882,000
• 30 Day Avg. Volume: 46,999,333
• PEG Ratio: 1.02
• Price to Book (P/B): 0.93
• Price to Sales (P/S): 0.79
• P/FCF Ratio: 46.03
• 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: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 51 Neutral
• Price Target: HK$0.11 ▲(26.67% Upside)

The overall stock score of 51 reflects a mixed outlook for Sino Golf Holdings Limited. The most significant factor is the company's financial instability, with erratic revenue growth and persistent net losses. Despite this, the stock's technical analysis shows bullish momentum, providing some optimism. However, poor valuation metrics, including a negative P/E ratio and lack of dividend yield, weigh heavily on the stock's attractiveness.

Positive Factors

Strong Manufacturing Capabilities

The company's robust manufacturing capabilities enable it to produce high-quality golf equipment efficiently, supporting long-term competitiveness and market presence.

Established Distribution Networks

Established distribution networks facilitate effective market penetration and customer reach, crucial for sustaining sales and expanding market share over time.

International Market Reach

International partnerships enhance market diversification and revenue potential, reducing reliance on any single market and supporting long-term growth.

Negative Factors

Erratic Revenue Growth

Unstable revenue patterns and ongoing losses suggest challenges in maintaining consistent financial performance, impacting long-term business viability.

Declining Equity and Assets

Decreasing equity and assets reflect potential financial weakness, limiting the company's ability to invest in growth and sustain operations over time.

Cash Flow Volatility

Volatile cash flow and inability to generate positive free cash flow consistently raise concerns about liquidity and financial stability, affecting long-term sustainability.

Sino Golf Holdings Limited Business Overview & Revenue Model

Company Description

Sino Golf Holdings Limited, an investment holding company, designs, develops, manufactures, trades in, and sells golf equipment, and related components and parts in Japan, North America, Europe, rest of Asia, and internationally. The company operates through Golf Equipment, Golf Bags, and Hospitality segments. It offers assembled and packaged golf clubs, club heads, shafts and golf bags, and accessories on an original equipment manufacturing and original design manufacturing basis to golf companies. The company also develops an integrated resort in the Commonwealth of the Northern Mariana Islands; and holds properties. The company was founded in 1988 and is based in Tsuen Wan, Hong Kong.

How the Company Makes Money

Sino Golf Holdings Limited generates revenue through the sale of its golf-related products, which include golf clubs, bags, and various accessories. The company's revenue model is primarily based on direct sales to retailers and wholesalers, as well as online sales through its e-commerce platform. Key revenue streams include bulk orders from golf clubs and sporting goods retailers, as well as partnerships with international distributors to expand its market reach. Additionally, the company may benefit from seasonal sales spikes during peak golfing seasons and tournaments, which contribute to its overall earnings.

Sino Golf Holdings Limited Financial Statement Overview

Summary

Sino Golf Holdings Limited's financial performance is characterized by erratic revenue growth and persistent net losses, indicating financial instability. While the balance sheet shows moderate leverage, declining equity and assets present long-term risks. Cash flow volatility and recent liquidity issues further underscore the need for strategic financial improvements to ensure sustainability in the leisure industry.

Income Statement

The company shows a volatile revenue trend with a significant decline from 2022 to 2023, followed by a recovery in 2024. Gross and net profit margins are weak, with the company registering a net loss in recent years. Despite some recovery in EBIT and EBITDA margins in 2024, the consistent negative net income indicates financial instability.

Balance Sheet

The debt-to-equity ratio is relatively moderate, indicating manageable leverage. However, the company's equity has decreased over the years, and total assets have declined, reflecting potential long-term financial concerns. The equity ratio is moderate but shows a decreasing trend, signaling declining asset financing through equity.

Cash Flow

The company's cash flow is erratic, with a significant drop in operating cash flow from 2023 to 2024 and zero free cash flow reported in 2024. The inability to generate positive free cash flow consistently is concerning and indicates potential liquidity issues. The positive free cash flow in previous years suggests some resilience, but recent trends are worrisome.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	222.60M	262.77M	216.56M	479.42M	418.48M	221.06M
Gross Profit	60.91M	68.59M	48.18M	85.41M	60.04M	35.78M
EBITDA	-169.00K	11.62M	6.15M	23.00M	4.10M	10.17M
Net Income	-16.21M	-2.36M	-18.54M	-15.95M	-23.67M	-19.54M
Balance Sheet
Total Assets	379.46M	399.97M	388.33M	488.61M	557.51M	558.52M
Cash, Cash Equivalents and Short-Term Investments	112.24M	118.98M	111.97M	141.16M	122.73M	113.79M
Total Debt	125.92M	120.35M	117.21M	185.92M	189.03M	192.54M
Total Liabilities	166.46M	172.36M	158.06M	239.25M	289.80M	267.31M
Stockholders Equity	210.27M	224.88M	227.54M	246.64M	264.99M	288.47M
Cash Flow
Free Cash Flow	2.69M	4.52M	40.26M	18.96M	29.08M	-19.26M
Operating Cash Flow	4.21M	8.75M	41.73M	20.67M	30.82M	-13.10M
Investing Cash Flow	-1.45M	-1.86M	674.00K	-1.25M	-1.62M	2.23M
Financing Cash Flow	-15.63M	-3.52M	-71.67M	-9.28M	-29.42M	4.84M

Sino Golf Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.09
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0361, the sentiment is Positive. The current price of 0.09 is below the 20-day moving average (MA) of 0.10, below the 50-day MA of 0.10, and above the 200-day MA of 0.06, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 43.41 is Neutral, neither overbought nor oversold. The STOCH value of 13.48 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0361.

Sino Golf Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
0869	63 Neutral	HK$601.80M	41.46	1.28%	13.73%	-44.36%	-93.64%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
0635	55 Neutral	HK$1.05B	-2.39	-8.58%	9.09%	-39.71%	-74.16%
0361	51 Neutral	HK$497.36M	-27.74	-7.42%	―	-5.36%	-63.16%
1005	50 Neutral	HK$362.98M	-1.60	-37.46%	4.17%	-13.08%	-21.27%
1123	50 Neutral	HK$137.50M	-193.33	-0.11%	8.62%	-8.31%	-108.70%
6918	43 Neutral	HK$117.67M	-1.63	-19.89%	―	84.26%	44.41%

Sino Golf Holdings Limited Corporate Events

Sino Golf Holdings Limited Announces Major Board Restructuring

Sino Golf Holdings Limited has announced significant changes in its board of directors and company structure. The company has appointed Mr. Liu Jincheng as the new executive director and chairman of the board, along with other new appointments and redesignations in non-executive and independent non-executive director roles. These changes are part of a strategic move to enhance the company’s leadership and governance, potentially impacting its market positioning and stakeholder relationships.

Sino Golf Holdings Limited Announces Board Composition and Committee Roles

Sino Golf Holdings Limited has announced the composition of its board of directors, which includes executive, non-executive, and independent non-executive directors. The announcement also details the membership of the board committees, highlighting the roles and functions of each director. This update on the board’s structure may impact the company’s governance and strategic direction, potentially influencing stakeholder confidence and operational efficiency.

Sino Golf Holdings Announces Mandatory Cash Offer for Share Acquisition

Sino Golf Holdings Limited, in conjunction with DoThink Investment Limited, has announced the dispatch of a Composite Document related to a mandatory unconditional cash offer. This offer, facilitated by CCBI on behalf of the Offeror, aims to acquire all issued shares not already owned by the Offeror’s concert group. The document includes details of the offer, recommendations from the Independent Board Committee, and advice from the Independent Financial Adviser. The offer is open for acceptance starting December 3, 2025, with a closing date set for December 24, 2025.

Sino Golf Holdings Faces Further Delay in Share Acquisition Document Dispatch

Sino Golf Holdings Limited and DoThink Investment Limited have announced a further delay in the dispatch of the Composite Document related to a mandatory unconditional cash offer by DoThink to acquire all issued shares of Sino Golf Holdings. The delay, now extended to December 3, 2025, is necessary to finalize the document’s content, including input from the Independent Financial Adviser. This extension may impact stakeholders as it prolongs the timeline for the acquisition process, requiring shareholders and potential investors to exercise caution.

Sino Golf Holdings Issues New Shares and Updates on Securities

Sino Golf Holdings Limited has announced the issuance of 650,000,000 new shares to DoThink Investment Limited following the exercise of conversion rights. This development increases the total number of shares in issue to 5,851,250,000. The announcement also serves as a reminder for associates to disclose their dealings in the company’s securities during the offer period, as per the Hong Kong Code on Takeovers and Mergers.

Sino Golf Holdings Completes Major Share Acquisition by DoThink Investment

Sino Golf Holdings Limited has completed a significant transaction involving the sale and purchase of shares and convertible bonds with DoThink Investment Limited. This transaction has resulted in DoThink Investment Limited acquiring a majority stake in Sino Golf Holdings, holding approximately 55.564% of the company’s shares post-conversion. This acquisition could potentially impact Sino Golf’s market positioning and influence its strategic direction, affecting stakeholders and future operations.

Sino Golf Holdings Announces Acquisition of Hio Pro Vietnam

Sino Golf Holdings Limited has announced a significant acquisition involving its subsidiary, Sino Golf Manufacturing Company Limited, which has entered into an agreement to acquire 100% of Hio Pro (Vietnam) Sporting Goods Company Limited for US$2,500,000. This transaction, categorized as both a discloseable and connected transaction under Hong Kong’s Listing Rules, is subject to certain conditions and regulatory requirements but does not require shareholder approval due to prior consent obtained from the Offeror.

Sino Golf Holdings Faces Delay in Share Acquisition Offer

Sino Golf Holdings Limited and DoThink Investment Limited have announced a delay in the dispatch of the Composite Document related to a possible mandatory unconditional cash offer by DoThink to acquire all issued shares in Sino Golf Holdings. The delay is due to the need for additional time to obtain necessary approvals from Chinese authorities. The extension has been applied for, with the Executive indicating a willingness to grant consent for the delay. Stakeholders are advised to exercise caution as the offer is contingent upon the completion of certain conditions.

Sino Golf Holdings Announces Share Sale and Mandatory Cash Offer

Sino Golf Holdings Limited has entered into a conditional agreement with DoThink Investment Limited for the sale and purchase of shares and convertible bonds in the company. Following the completion of this transaction, DoThink Investment Limited will own approximately 50.011% of the company’s total issued share capital, triggering a mandatory unconditional cash offer for the remaining shares at a price of HK$0.029 per share, as per the Takeovers Code.