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CMMB Vision Holdings Ltd. (HK:0471)
:0471
Hong Kong Market

CMMB Vision Holdings (0471) AI Stock Analysis

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HK:0471

CMMB Vision Holdings

(0471)

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Neutral 47 (OpenAI - 5.2)
Rating:47Neutral
Price Target:
HK$0.67
▼(-5.63% Downside)
The score is held down primarily by weak financial performance (declining revenue, persistent losses, and poor cash generation), which outweighs the currently strong technical setup (price above major moving averages with positive MACD). Valuation is also constrained by losses, reflected in a negative P/E.
Positive Factors
Diversified revenue streams
CMMB operates across content production, licensing, advertising and strategic telecom/tech collaborations. This multi-channel model provides durable revenue flexibility and cross-selling potential, reducing single-market exposure and supporting resilience over a 2–6 month horizon.
Healthy gross margin
A ~45% gross margin implies relatively efficient cost of goods sold and scalable content economics. If revenue stabilizes or grows, the company can harness operating leverage to improve profitability over months, making gross margin a durable cushion against revenue volatility.
Moderate leverage and equity base
Moderate debt (D/E ~0.51) and a ~52% equity ratio indicate a conservative-ish capital structure versus highly leveraged peers. This provides runway to fund working capital, content investment or strategic partnerships without immediate solvency strain, supporting medium-term financial flexibility.
Negative Factors
Declining revenue trend
A multi-year revenue decline signals weakening commercial momentum or market share loss. Persistent top-line contraction undermines fixed-cost absorption and makes margin recovery and sustainable profitability much harder, posing a structural headwind to business viability over 2–6 months.
Poor cash generation
Zero FCF in 2024 and past negative operating cash flow indicate the business isn’t self-funding growth or operations. This forces reliance on external financing, increases refinancing and dilution risk, and constrains reinvestment capacity for content and technology over the medium term.
Persistent operating losses
Negative EBIT/EBITDA margins show core operations are not yet profitable despite decent gross margins, implying high SG&A or structural cost inefficiencies. Continued losses erode equity, limit reinvestment, and raise solvency and strategic risk unless margins structurally improve.

CMMB Vision Holdings (0471) vs. iShares MSCI Hong Kong ETF (EWH)

CMMB Vision Holdings Business Overview & Revenue Model

Company DescriptionSilkwave Inc, an investment holding company, engages in the convergent mobile multimedia broadcasting (CMMB) business in the People's Republic of China, the United States, and Taiwan. It operates through CMMB Business and Trading Business segments. The CMMB Business segment is involved in the transmission and broadcasting of television programs. The Trading Business segment engages in trading printed circuit board materials. The company also provides satellite infotainment multimedia technology and services for vehicles and maritime applications; and satellite services. Its customers include LPTV programmers, electronic manufacturers, and satellite communication companies. The company was formerly known as CMMB Vision Holdings Limited and changed its name to Silkwave Inc in August 2022. Silkwave Inc was incorporated in 2005 and is headquartered in Hong Kong, Hong Kong.
How the Company Makes MoneyCMMB Vision Holdings generates revenue through multiple channels, with a significant focus on content creation and distribution. The company earns money by producing original media content and licensing it to various platforms and broadcasters. Additionally, revenue is derived from advertising partnerships, where the company monetizes its media properties through advertisements. Strategic collaborations with telecom operators and technology firms also contribute to its earnings by allowing CMMB to offer bundled services that include media content and telecommunications solutions. The company's ability to adapt to market trends and invest in innovative technologies further enhances its revenue generation capabilities.

CMMB Vision Holdings Financial Statement Overview

Summary
Financial statements indicate material weakness: revenue has declined over time, profitability is deeply negative with negative EBIT/EBITDA margins, and cash generation is poor (zero free cash flow in 2024 and negative operating cash flow in prior years). The balance sheet is only moderately leveraged (debt-to-equity ~0.51; equity ratio ~52%), but ongoing losses and weak cash flows raise sustainability risk.
Income Statement
25
Negative
CMMB Vision Holdings has been facing declining revenue with negative growth, as revenue decreased from $7.1M in 2019 to $6.39M in 2024. The gross profit margin for 2024 is approximately 45.4%, indicating some cost control, but the net profit margin is severely negative due to significant net losses. EBIT and EBITDA margins are also negative, reflecting operational inefficiencies and high expenses relative to revenue.
Balance Sheet
30
Negative
The company's financial stability is concerning, with a debt-to-equity ratio of 0.51 in 2024, which is moderate but has increased from previous years. The equity ratio stands at about 52%, indicating a reasonable portion of assets funded by equity. However, the return on equity is negative due to consistent net losses, raising concerns about shareholder returns.
Cash Flow
15
Very Negative
The cash flow position of the company is weak, with zero free cash flow in 2024 and negative operating cash flow in previous years. The operating cash flow to net income ratio is not calculable due to negative earnings and operating cash flow, indicating cash management challenges and insufficient cash generation from operations.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue6.20M6.39M7.34M8.55M5.72M3.88M
Gross Profit2.58M2.90M2.52M2.46M1.51M602.00K
EBITDA-3.22M-2.67M-73.27M-3.16M-1.43M-2.40M
Net Income-8.74M-8.92M-66.81M-27.97M-35.44M-127.70M
Balance Sheet
Total Assets36.42M36.39M44.78M114.82M135.88M185.61M
Cash, Cash Equivalents and Short-Term Investments335.00K889.00K727.00K1.72M1.04M447.00K
Total Debt10.00M9.65M9.23M14.23M35.63M53.72M
Total Liabilities12.97M12.73M11.67M17.81M42.20M61.98M
Stockholders Equity18.86M18.92M27.84M83.58M78.69M106.10M
Cash Flow
Free Cash Flow3.63M4.14M-2.58M-6.65M-2.54M-10.33M
Operating Cash Flow3.63M4.14M-2.58M-6.65M-2.54M-10.33M
Investing Cash Flow-3.68M-3.68M-2.15M-1.18M1.00M0.00
Financing Cash Flow213.00K-303.00K3.73M8.50M2.14M10.53M

CMMB Vision Holdings Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.71
Price Trends
50DMA
0.53
Positive
100DMA
0.55
Positive
200DMA
0.51
Positive
Market Momentum
MACD
0.03
Negative
RSI
60.02
Neutral
STOCH
43.15
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0471, the sentiment is Positive. The current price of 0.71 is above the 20-day moving average (MA) of 0.55, above the 50-day MA of 0.53, and above the 200-day MA of 0.51, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 60.02 is Neutral, neither overbought nor oversold. The STOCH value of 43.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0471.

CMMB Vision Holdings Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$37.18B12.37-10.20%1.83%8.50%-7.62%
56
Neutral
HK$151.20M63.531.44%3.06%4.82%-71.76%
50
Neutral
HK$102.00M-10.45-8.13%0.94%-8.83%-28.76%
47
Neutral
HK$74.36M-1.08-38.82%-10.29%86.69%
44
Neutral
HK$151.96M103.452.91%62.31%
44
Neutral
HK$50.00M-5.4485.37%73.25%
41
Neutral
HK$33.91M-0.14-48.20%-25.27%53.14%
* Technology Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
HK:0471
CMMB Vision Holdings
0.62
-0.06
-9.22%
HK:8106
Shenghua Lande Scitech Limited Class H
0.30
0.22
275.00%
HK:0997
Chinlink International Holdings Limited
0.03
<0.01
20.83%
HK:1013
Wai Chun Group Holdings Limited
0.19
0.09
87.00%
HK:1213
Mobicon Group Limited
0.51
0.25
96.15%
HK:1362
SiS Mobile Holdings Limited
0.54
0.20
58.82%

CMMB Vision Holdings Corporate Events

Silkwave Wins Minority Backing for Major Three-for-One Rights Issue
Jan 21, 2026

Independent shareholders of Silkwave Inc have approved a substantial rights issue on a non-underwritten basis, allowing the company to offer three new rights shares for every existing share held on the record date, potentially more than doubling its share capital and providing additional funding flexibility. The resolution passed after scrutiny of voting irregularities involving Chi Capital, the controlling shareholder, whose votes were invalidated due to broker miscommunication, with the final valid tally showing 8,326 shares in favour and 22 against, underscoring regulatory compliance with Hong Kong Listing Rules and paving the way for the rights issue to proceed while ensuring minority shareholder approval was properly obtained.

The most recent analyst rating on (HK:0471) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on CMMB Vision Holdings stock, see the HK:0471 Stock Forecast page.

Silkwave Explains Delayed Company Secretary Removal Amid Fee Dispute
Jan 21, 2026

Silkwave Inc has clarified the circumstances surrounding the removal of its company secretary, Mr. Wei, explaining that although he stopped providing services and tendered his resignation in September 2024, a dispute over service fee settlement delayed completion of the handover and associated administrative and regulatory filings. The board stated that, despite the delay in formal dismissal procedures and announcement until October 2025, other experienced staff performed the duties of the company secretary to maintain compliance with listing and legal requirements, and confirmed there were no disagreements with Mr. Wei beyond the fee dispute and no further issues requiring shareholder or exchange attention.

The most recent analyst rating on (HK:0471) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on CMMB Vision Holdings stock, see the HK:0471 Stock Forecast page.

Silkwave Reshuffles Company Secretary and Compliance Roles in Governance Transition
Jan 9, 2026

Silkwave Inc. has announced a change in key governance roles, with the resignation of Mr. Kwong Chun Chung as company secretary, authorised representative under the Hong Kong Listing Rules, and process agent in Hong Kong, effective 9 January 2026. The board stated that Mr. Kwong has no disagreements with the directors and that there are no matters relating to his departure that need to be brought to shareholders’ or the exchange’s attention, signalling a routine transition rather than a contentious exit. He will be succeeded in all three roles by Mr. Tam Sik Wai, a qualified corporate governance professional holding a Master of Corporate Governance and memberships in The Chartered Governance Institute and The Hong Kong Chartered Governance Institute, with prior experience serving listed and non-listed companies and as a company secretary of another Hong Kong-listed firm. The appointment underscores Silkwave’s emphasis on maintaining regulatory compliance and robust corporate governance, which is critical for its listing status and for reassuring investors about continuity in its corporate administration.

The most recent analyst rating on (HK:0471) stock is a Sell with a HK$0.50 price target. To see the full list of analyst forecasts on CMMB Vision Holdings stock, see the HK:0471 Stock Forecast page.

Silkwave Inc Adds Experienced Investor Hu Manqiu as Non-Executive Director
Jan 7, 2026

Silkwave Inc has appointed Ms. Hu Manqiu as a non-executive director, effective 7 January 2026, adding a seasoned corporate management and investment professional to its board. Ms. Hu, 40, brings extensive leadership experience from serving as chairwoman of Qiligang (Group) Co., Ltd. and as executive director and legal representative of multiple Shanghai-based enterprises, as well as an investor in property and city development companies. Under a one-year service contract renewable by notice, she will receive an annual director’s fee of HK$240,000 and be subject to retirement by rotation and re-election in line with the company’s articles and Hong Kong listing rules. The board highlighted that Ms. Hu has no prior public company directorships in the last three years, no relationships with existing directors or major shareholders, and no disclosable interests in the company’s shares, underscoring her independence as the firm adjusts its board composition.

The most recent analyst rating on (HK:0471) stock is a Sell with a HK$0.50 price target. To see the full list of analyst forecasts on CMMB Vision Holdings stock, see the HK:0471 Stock Forecast page.

Silkwave Inc Announces Board and Committee Structure
Jan 7, 2026

Silkwave Inc has announced the composition of its board of directors, comprising three executive directors, one non-executive director and three independent non-executive directors, with Wong Chau Chi serving as chairman and chief executive and Woo Lan Ying as vice chairperson. The company has also outlined the membership of its three key board committees—Audit, Nomination and Remuneration—clarifying that the independent non-executive directors hold the chair roles on these committees, a governance move that reinforces oversight and aligns with corporate governance best practices for listed companies in Hong Kong.

The most recent analyst rating on (HK:0471) stock is a Sell with a HK$0.50 price target. To see the full list of analyst forecasts on CMMB Vision Holdings stock, see the HK:0471 Stock Forecast page.

Silkwave Issues Circular and Revises Timetable for Three-for-One Rights Issue
Dec 31, 2025

Silkwave Inc has issued a circular to shareholders detailing its proposed rights issue, under which investors would be entitled to subscribe for three new rights shares for every existing share held on the record date, on a non-underwritten basis. Alongside the circular, the company has set out a revised timetable covering key dates for share transfers, book closure, proxy lodgement, and the extraordinary general meeting at which shareholders will vote on the transaction, signalling that the capital-raising process is moving into its formal approval phase and providing clearer visibility on participation logistics for existing investors.

The most recent analyst rating on (HK:0471) stock is a Sell with a HK$0.50 price target. To see the full list of analyst forecasts on CMMB Vision Holdings stock, see the HK:0471 Stock Forecast page.

Silkroad Inc Calls January EGM to Approve Deeply Discounted Rights Issue
Dec 31, 2025

Silkroad Inc has called an extraordinary general meeting in Hong Kong on 21 January 2026 for shareholders to vote on a proposed rights issue that could raise new equity by issuing up to 383.2 million new shares at HK$0.455 per share on the basis of three rights shares for every existing share held on 15 January 2026. The board is seeking authority to proceed with the capital-raising plan, including flexibility to adjust for the potential full conversion of an existing convertible note and to exclude or make special arrangements for shareholders in jurisdictions outside Hong Kong, a move that would significantly expand the company’s share capital and potentially strengthen its balance sheet but also dilute existing holdings for investors who do not subscribe.

The most recent analyst rating on (HK:0471) stock is a Sell with a HK$0.50 price target. To see the full list of analyst forecasts on CMMB Vision Holdings stock, see the HK:0471 Stock Forecast page.

Silkwave Inc Delays Circular Dispatch for Rights Issue
Dec 11, 2025

Silkwave Inc, a company incorporated in the Cayman Islands, has announced a delay in the dispatch of its circular related to a proposed rights issue. The circular, which was initially expected to be sent to shareholders by December 11, 2025, will now be postponed to on or before December 31, 2025, to allow additional time for preparation and finalization. This delay may impact the company’s timetable for the rights issue and the closure of its register of members, with further announcements expected to clarify the revised schedule.

The most recent analyst rating on (HK:0471) stock is a Sell with a HK$0.50 price target. To see the full list of analyst forecasts on CMMB Vision Holdings stock, see the HK:0471 Stock Forecast page.

Silkwave Inc Announces Resignation of Non-Executive Director
Nov 26, 2025

Silkwave Inc, a company incorporated in the Cayman Islands, announced the resignation of Mr. Lui Chun Pong from his role as a non-executive director, effective November 26, 2025. Mr. Lui’s departure is due to his decision to focus more on other business commitments, and he has confirmed no disagreements with the board or the company. The board expressed gratitude for his contributions during his tenure.

The most recent analyst rating on (HK:0471) stock is a Sell with a HK$0.50 price target. To see the full list of analyst forecasts on CMMB Vision Holdings stock, see the HK:0471 Stock Forecast page.

CMMB Vision Holdings Announces Rights Issue to Raise HK$174.34 Million
Nov 19, 2025

CMMB Vision Holdings, through its subsidiary Silkwave Inc, has announced a proposed rights issue to raise up to approximately HK$174.34 million. This initiative aims to bolster technology development, infrastructure enhancement, and business operations, with funds allocated for technology development, trading business, operational team strengthening, marketing, and potential investment opportunities.

The most recent analyst rating on (HK:0471) stock is a Sell with a HK$0.50 price target. To see the full list of analyst forecasts on CMMB Vision Holdings stock, see the HK:0471 Stock Forecast page.

Silkwave Inc. Announces Changes in Company Secretary Position
Oct 30, 2025

Silkwave Inc., a company listed on the Hong Kong Stock Exchange, has announced the removal of Mr. Wei Hon Sum from his position as company secretary and authorized representative, effective October 30, 2025. This decision follows Mr. Wei’s resignation from the company in September 2024, which he did not complete formally. To safeguard the company’s interests, the board has appointed Mr. Kwong Chun Chung as the new company secretary and authorized representative. Mr. Kwong brings extensive experience in company secretarial, accounting, and financial operations for Hong Kong listed companies.

The most recent analyst rating on (HK:0471) stock is a Sell with a HK$0.50 price target. To see the full list of analyst forecasts on CMMB Vision Holdings stock, see the HK:0471 Stock Forecast page.

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.Date of analysis: Jan 25, 2026