Wong's Kong King International (Holdings) Limited (0532) AI Stock Analysis

• Market Cap: HK$215.32M
• Dividend Yield: N/A
• Average Volume (3M): 69.13K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.12
• Revenue Growth: 6.32%
• EPS Growth: 28.39%
• Country: HK
• Employees: 3,880
• Sector: Technology
• Sector Strength: 88
• Industry: Hardware, Equipment & Parts
• EPS (TTM): -0.01
• Shares Outstanding: 729,897,950
• 10 Day Avg. Volume: 96,800
• 30 Day Avg. Volume: 69,133
• PEG Ratio: -0.03
• Price to Book (P/B): 0.16
• Price to Sales (P/S): 0.06
• P/FCF Ratio: 2.17
• 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: 48 Neutral
• Price Target: HK$0.29 ▼(-8.75% Downside)

The overall stock score is primarily impacted by weak financial performance, with declining revenues and profitability, increased leverage, and negative cash flows. Technical analysis shows some positive momentum, but the overbought RSI suggests caution. Valuation concerns due to negative earnings and lack of dividends further weigh down the score.

Positive Factors

Diversified revenue streams and manufacturing base

The company sells manufactured electronic products via direct wholesale/retail sales and bulk contracts, plus distributor partnerships. This multi-channel manufacturing and contract mix supports steadier order flow and reduces single-customer concentration risk, aiding mid-term revenue stability.

Economies of scale in production

Established production capacity and scale lower unit costs and support competitive pricing across product lines. Over 2–6 months this structural cost advantage can protect margins versus smaller competitors and enable margin recovery if volume trends stabilize, supporting durable competitiveness.

Stable equity base provides financial buffer

A stable equity base offers a capital cushion to withstand industry cyclicality and fund operational adjustments. This structural balance-sheet strength helps preserve access to supplier credit and financing, providing the company runway to execute strategic fixes without immediate dilution or distressed asset sales.

Negative Factors

Declining revenues and squeezed profitability

Sustained revenue decline and falling gross margins erode scale economics and reduce reinvestable cash. Over several months this trend undermines bargaining power with suppliers and customers, compresses operating leverage, and makes it harder to reverse losses without structural product or market changes.

Negative operating cash flow and volatile free cash flow

Negative and inconsistent cash generation limits the firm's ability to fund working capital, capex, or service debt from operations. This structural liquidity weakness increases reliance on external financing, raising refinancing risk and constraining strategic investments over the medium term.

Rising leverage amid negative net income

Higher leverage combined with negative net income reduces financial flexibility and increases interest burdens. Over the coming months this combination can pressure covenants, limit ability to invest or pursue growth, and force defensive measures if operational performance does not improve.

Wong's Kong King International (Holdings) Limited Business Overview & Revenue Model

Company Description

Wong's Kong King International (Holdings) Limited, an investment holding company, trades in and distributes chemicals, materials, and equipment for use in the manufacture of printed circuit boards and electronic products. It operates in two segments, Trading and Manufacturing. The company is involved in trading and distributing plastic and industrial products, semiconductor equipment, electronics components, printed circuit boards, and other related products; trading, distributing, and installing turnkey production facilities; and provision of designing, producing, testing, distributing, and return/repairing services for electronics components. It also manufactures and sells electrical and electronic products for original equipment manufacturers, as well as produces film and plastic products. In addition, the company provides marketing, engineering, travel ticketing, and maintenance and after-sales services. It operates in North America, Europe, Hong Kong, Mainland China, Taiwan, and internationally. Wong's Kong King International (Holdings) Limited was founded in 1975 and is headquartered in Kowloon Bay, Hong Kong.

How the Company Makes Money

Wong's Kong King International generates revenue through multiple streams, primarily from the manufacturing and sale of electronic products. The company capitalizes on its production capabilities by supplying high-quality electronic toys and components to various international markets. Key revenue streams include direct sales to wholesalers and retailers, as well as contracts with larger corporations for bulk orders. Additionally, strategic partnerships with suppliers and distributors enhance its market reach and operational efficiency, contributing significantly to its earnings. The company also benefits from economies of scale in production, which helps to maintain competitive pricing and profitability.

Wong's Kong King International (Holdings) Limited Financial Statement Overview

Summary

Wong's Kong King International is facing financial headwinds, characterized by declining revenues and profitability. The company's balance sheet remains relatively stable, but increased leverage and negative earnings raise red flags. Cash flow difficulties further stress the financial position, suggesting the need for strategic realignment to improve financial health.

Income Statement

The company's revenue has been on a declining trend over recent years, with a significant drop from 2020 to 2024. The gross profit margin has decreased, indicating a squeeze in profitability. Net income has turned negative, leading to weak net profit margins. However, EBITDA margin shows some resilience, albeit still negative, suggesting challenges in operational efficiency.

Balance Sheet

The balance sheet reflects a stable equity base, but the debt-to-equity ratio has increased, presenting potential leverage concerns. Return on equity has turned unfavorable due to negative net income. The equity ratio remains stable, indicating a balanced asset financing structure.

Cash Flow

The cash flow position is concerning, with operating cash flow turning negative in recent periods. Free cash flow shows volatility and lacks consistency, impacting financial flexibility. The lack of positive cash flow metrics highlights potential liquidity risks.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.59B	3.45B	3.65B	4.61B	5.41B	4.72B
Gross Profit	815.71M	761.36M	177.81M	1.07B	1.09B	999.50M
EBITDA	5.17M	-74.48M	44.06M	222.76M	206.42M	221.59M
Net Income	-117.11M	-190.16M	-132.78M	71.76M	72.01M	101.19M
Balance Sheet
Total Assets	3.14B	2.91B	3.15B	3.72B	3.75B	3.29B
Cash, Cash Equivalents and Short-Term Investments	682.81M	572.52M	561.76M	748.13M	713.93M	637.75M
Total Debt	746.77M	639.01M	664.42M	923.39M	613.45M	406.20M
Total Liabilities	1.67B	1.42B	1.48B	1.86B	1.89B	1.49B
Stockholders Equity	1.39B	1.40B	1.58B	1.75B	1.76B	1.71B
Cash Flow
Free Cash Flow	108.48M	101.02M	217.03M	-171.40M	-21.99M	432.94M
Operating Cash Flow	137.21M	135.11M	245.24M	-149.66M	22.86M	485.16M
Investing Cash Flow	-7.44M	-13.01M	-3.60M	-48.07M	-26.16M	-30.89M
Financing Cash Flow	-300.79M	-120.08M	-410.30M	241.50M	91.45M	-316.18M

Wong's Kong King International (Holdings) Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.32
• 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:0532, the sentiment is Negative. The current price of 0.32 is above the 20-day moving average (MA) of 0.30, above the 50-day MA of 0.31, and above the 200-day MA of 0.28, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 35.76 is Neutral, neither overbought nor oversold. The STOCH value of 25.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0532.

Wong's Kong King International (Holdings) Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
1480	77 Outperform	HK$268.80M	6.44	5.64%	5.22%	-16.27%	-36.15%
0833	72 Outperform	HK$293.30M	4.32	9.83%	9.09%	0.64%	-26.43%
1305	67 Neutral	HK$162.60M	3.22	5.63%	―	1.72%	41.27%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
0894	54 Neutral	HK$397.84M	41.71	0.63%	0.63%	5.72%	-57.39%
0532	48 Neutral	HK$215.32M	-1.84	-8.12%	―	6.32%	28.39%

Wong's Kong King International (Holdings) Limited Corporate Events

Taiwan Kong King Posts 60% December Sales Slump but Full-Year Revenue Climbs Nearly 39%

Taiwan Kong King Company Limited, a subsidiary of Wong’s Kong King International (Holdings) Limited, reported a sharp year-on-year decline of 60.26% in consolidated net sales revenue for December 2025 to NT$101.996 million, primarily due to weaker machinery and equipment sales. Despite the weak December performance, accumulated revenue for 2025 rose 38.76% from the prior year to NT$1.865 billion, indicating that the group’s overall annual sales remained significantly higher than in 2024, though the latest monthly data may raise concerns about softening demand in its core machinery segment and potential pressure on near-term operating performance.

The most recent analyst rating on (HK:0532) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Wong’s Kong King International (Holdings) Limited stock, see the HK:0532 Stock Forecast page.

Wong’s Kong King to Liquidate Loss-Making PRC Plastic Manufacturing Unit

Wong’s Kong King International (Holdings) Limited has announced the voluntary liquidation and deregistration of Dongguan Nissin Plastic Products Co., Ltd., an indirect wholly owned PRC subsidiary engaged in manufacturing plastic products mainly for export, after years of continuous losses. The company expects a one-off restructuring charge covering severance, shutdown-related expenses and inventory write-offs, but notes that Dongguan Nissin represents less than 5% of the Group’s total assets and revenue and therefore its exit will not materially affect overall operations; instead, the move is aimed at cutting losses, reallocating resources and management attention to stronger existing businesses, and positioning the Group to pursue new opportunities, with the subsidiary’s financials to be deconsolidated upon completion of the liquidation.

The most recent analyst rating on (HK:0532) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Wong’s Kong King International (Holdings) Limited stock, see the HK:0532 Stock Forecast page.

Wong’s Kong King Reports Strong Annual Revenue Growth Despite Monthly Decline

Wong’s Kong King International (Holdings) Limited announced a significant increase in cumulative operating income for the year, attributed to a rise in sales of machinery and equipment. Despite a decrease in net sales revenue for November 2025 compared to the previous year, the company’s overall revenue has increased by 62.13%, highlighting a strong performance in the machinery sector.

The most recent analyst rating on (HK:0532) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Wong’s Kong King International (Holdings) Limited stock, see the HK:0532 Stock Forecast page.

Wong’s Kong King Reports Robust Profit Growth for Taiwan Subsidiary

Wong’s Kong King International (Holdings) Limited announced a significant financial performance for its subsidiary, Taiwan Kong King Company Limited (TKK), for the nine months ending September 30, 2025. The unaudited consolidated profit after tax for TKK Group surged by approximately 99.3% compared to the same period in 2024, reaching NT$150,820,000 (HK$37,825,656). This substantial growth in profit highlights TKK’s strong market positioning and operational efficiency, potentially enhancing stakeholder confidence and reinforcing its competitive stance in the electronics market.

The most recent analyst rating on (HK:0532) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Wong’s Kong King International (Holdings) Limited stock, see the HK:0532 Stock Forecast page.

Wong’s Kong King Reports Mixed Revenue Results for October 2025

Wong’s Kong King International (Holdings) Limited, through its subsidiary Taiwan Kong King Company Limited, reported a decrease in net sales revenue for October 2025 compared to the same month last year, with a drop of 7.81%. However, the cumulative revenue for the year showed a significant increase of 78.53% due to a rise in machinery and equipment sales, indicating a strong year-over-year growth and positive market response.

The most recent analyst rating on (HK:0532) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Wong’s Kong King International (Holdings) Limited stock, see the HK:0532 Stock Forecast page.