Bonjour Holdings (0653) AI Stock Analysis

• Market Cap: HK$215.08M
• Dividend Yield: N/A
• Average Volume (3M): 1.66M
• Price to Earnings (P/E): ―
• Beta (1Y): -0.03
• Revenue Growth: -24.71%
• EPS Growth: -20.29%
• Country: HK
• Employees: 78
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Specialty Retail
• EPS (TTM): N/A
• Shares Outstanding: 1,680,306,600
• 10 Day Avg. Volume: 2,229,417
• 30 Day Avg. Volume: 1,657,680
• PEG Ratio: <0.01
• Price to Book (P/B): 2.75
• Price to Sales (P/S): 5.08
• P/FCF Ratio: -6.31
• 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: 45 Neutral
• Price Target: HK$0.12 ▼(-12.14% Downside)

The overall stock score is primarily impacted by the company's poor financial performance, which is the most significant factor. Despite some positive technical indicators suggesting short-term momentum, the negative valuation metrics and lack of profitability weigh heavily on the score. The absence of earnings call data and corporate events means these factors do not influence the score.

Positive Factors

Diversified revenue streams

Bonjour's mix of room rentals, F&B and event hosting creates multiple, recurring revenue channels tied to travel and corporate demand. This service diversification can smooth revenue volatility and supports cross-selling, improving resilience across business and leisure cycles over the medium term.

Asset-backed capital structure

The company's maintained positive equity ratio implies tangible asset backing from property holdings. Real estate assets provide collateral for refinancing, downside protection and strategic optionality, supporting medium-term recovery plans and creditor confidence despite operating weakness.

Evidence of revenue resilience

A revenue rebound from 2022 to 2023 indicates the business can recover demand when market conditions improve. That demonstrated rebound potential suggests operational capacity to scale occupancy and revenues when tourism or corporate travel normalizes, aiding medium-term turnaround prospects.

Negative Factors

Persistent negative operating cash flow

Ongoing negative operating cash flows undermine the firm's ability to fund capex, service debt, or invest without external financing. Over months this heightens liquidity risk, forces reliance on debt or equity raises, and constrains operational investments needed to restore profitability.

High leverage and debt reliance

Substantial debt magnifies interest and refinancing exposure, reducing financial flexibility. In a cyclical hospitality sector, high leverage increases vulnerability to demand downturns and raises the probability of covenant pressure or costly refinancing within the 2–6 month horizon.

Sustained revenue decline and negative margins

Prolonged revenue deterioration and negative EBIT/EBITDA margins point to structural profitability issues. Margins are insufficient to cover fixed costs in hospitality, meaning remediation requires sustained revenue growth or significant cost restructuring to restore durable profitability.

Bonjour Holdings Business Overview & Revenue Model

Company Description

Bonjour Holdings (0653) is a diversified investment holding company based in Hong Kong, focusing on the hospitality and real estate sectors. The company engages in the development and management of hotels, providing a range of services including accommodation, food and beverage, and event hosting. Bonjour Holdings aims to create unique and memorable experiences for its guests while maximizing the value of its properties and investments.

How the Company Makes Money

Bonjour Holdings generates revenue primarily through its hotel operations, which include room rentals, food and beverage sales, and event hosting services. The company leverages its portfolio of properties to attract both business and leisure travelers, contributing to its revenue stream. Additionally, Bonjour Holdings may earn income through strategic partnerships with travel agencies and corporate clients, enhancing its visibility and occupancy rates. The company's ability to effectively manage operational costs and optimize pricing strategies plays a crucial role in sustaining its profitability.

Bonjour Holdings Financial Statement Overview

Summary

Bonjour Holdings faces significant financial challenges, characterized by declining revenues, profitability issues, and high leverage. The company's inability to generate positive cash flows from operations suggests liquidity risks, while high debt levels increase financial vulnerability. Despite some asset stability, the overall financial health is concerning, necessitating strategic changes for improvement.

Income Statement

Bonjour Holdings has experienced significant revenue volatility, with a notable decline from 2019 to 2024. The most recent annual report shows a sharp drop in revenue and a negative net income, indicating challenges in profitability. The EBIT and EBITDA margins are negative, reflecting operational inefficiencies. Despite a recovery in revenue between 2022 and 2023, the overall trend has been negative, impacting financial stability.

Balance Sheet

The company's balance sheet shows high leverage, with a debt-to-equity ratio indicating substantial reliance on debt financing. Stockholders' equity has fluctuated, and the most recent year shows a lower equity base due to accumulated losses. However, the company has managed to maintain a positive equity ratio, suggesting some stability in asset financing. The high level of liabilities relative to assets poses a risk to long-term financial health.

Cash Flow

Cash flow analysis reveals consistent negative operating cash flows, indicating challenges in generating cash from core operations. Free cash flow has been negative, impacted by negative operating cash flows, undermining the ability to invest without additional financing. The cash flow to net income ratios reflect inefficiencies in translating income into cash, highlighting liquidity constraints.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	115.82M	80.55M	950.27M	185.66M	626.99M	538.79M
Gross Profit	52.86M	32.80M	63.05M	33.75M	49.96M	173.09M
EBITDA	-123.90M	-54.32M	66.86M	226.73M	-102.81M	-22.91M
Net Income	-185.57M	-134.37M	53.97M	167.22M	-216.74M	-255.73M
Balance Sheet
Total Assets	255.77M	421.69M	504.11M	505.41M	711.42M	1.03B
Cash, Cash Equivalents and Short-Term Investments	3.91M	6.45M	16.11M	41.95M	41.95M	20.29M
Total Debt	142.10M	207.92M	116.51M	138.29M	512.27M	639.32M
Total Liabilities	204.31M	273.04M	221.87M	350.02M	701.13M	859.00M
Stockholders Equity	51.46M	148.65M	282.24M	155.39M	2.79M	172.17M
Cash Flow
Free Cash Flow	0.00	-64.79M	-58.97M	-130.97M	-108.42M	30.30M
Operating Cash Flow	6.04M	-64.79M	-58.95M	-126.01M	-108.42M	49.83M
Investing Cash Flow	147.00K	-1.49M	6.73M	459.99M	144.48M	1.36M
Financing Cash Flow	-8.72M	56.62M	50.40M	-358.00M	-10.13M	-133.28M

Bonjour Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.14
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0653, the sentiment is Positive. The current price of 0.14 is above the 20-day moving average (MA) of 0.11, above the 50-day MA of 0.09, and above the 200-day MA of 0.09, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 63.90 is Neutral, neither overbought nor oversold. The STOCH value of 76.47 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0653.

Bonjour Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2101	64 Neutral	HK$514.89M	34.62	1.04%	―	-36.58%	-84.25%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
0178	56 Neutral	HK$1.83B	19.34	8.44%	4.75%	-3.18%	-36.46%
0653	45 Neutral	HK$215.08M	-0.24	―	―	-24.71%	-20.29%
1939	45 Neutral	HK$409.50M	-22.35	-7.74%	―	85.29%	39.63%
1280	38 Underperform	HK$5.68B	-1.11	―	―	27.68%	-973.10%

Bonjour Holdings Corporate Events

Bonjour Holdings and Ziyuanyuan Explore Strategic Cooperation

Bonjour Holdings Limited has announced a non-binding memorandum of understanding with Ziyuanyuan Holdings Group Limited to explore a strategic cooperation plan. The collaboration aims to leverage Bonjour’s position in the cosmetics retail industry and Ziyuanyuan’s operational experience in China to develop a cross-border new retail business model in the Greater Bay Area. This partnership is expected to enhance Bonjour’s diversification and global reach, promoting sustainable development and offering significant opportunities for innovation and growth.

The most recent analyst rating on (HK:0653) stock is a Sell with a HK$0.07 price target. To see the full list of analyst forecasts on Bonjour Holdings stock, see the HK:0653 Stock Forecast page.

Bonjour Holdings Announces Strategic Cooperation with Ziyuanyuan

Bonjour Holdings Limited has announced a potential strategic cooperation plan with Ziyuanyuan Holdings Group Limited, focusing on cross-border new retail business. The collaboration aims to leverage Bonjour’s position in the cosmetics retail industry and Ziyuanyuan’s operational experience in China to explore market development, product collaboration, and regional cooperation in the Greater Bay Area. This partnership is expected to foster innovative business models and enhance the sustainable development and growth of both companies, providing significant opportunities and returns for stakeholders.

The most recent analyst rating on (HK:0653) stock is a Sell with a HK$0.07 price target. To see the full list of analyst forecasts on Bonjour Holdings stock, see the HK:0653 Stock Forecast page.

Bonjour Holdings Secures Shareholder Approval at 2025 AGM

Bonjour Holdings Limited announced that all resolutions proposed at the 2025 Annual General Meeting were approved by shareholders. The resolutions included the adoption of financial statements, re-election of directors, reappointment of auditors, and granting mandates for share issuance and repurchase. This successful AGM reflects strong shareholder support and positions the company for continued strategic actions in the market.

The most recent analyst rating on (HK:0653) stock is a Sell with a HK$0.07 price target. To see the full list of analyst forecasts on Bonjour Holdings stock, see the HK:0653 Stock Forecast page.

Bonjour Holdings Announces Annual General Meeting and Key Resolutions

Bonjour Holdings Limited has announced its upcoming annual general meeting scheduled for November 28, 2025. Key agenda items include the adoption of financial statements, re-election of directors, and reappointment of the auditor. Additionally, the meeting will consider resolutions to authorize directors to manage the company’s share capital, including allotting new shares and handling treasury shares, which could impact the company’s financial strategy and shareholder value.

Bonjour Holdings Proposes Amendments to Enhance Governance and Flexibility

Bonjour Holdings Limited has announced proposed amendments to its memorandum and articles of association to align with applicable laws, the Listing Rules, and international best practices. These amendments aim to enhance corporate governance, facilitate electronic communication and participation in meetings, and provide flexibility in managing share capital. The proposed changes are subject to shareholder approval at the upcoming annual general meeting, with the goal of improving operational flexibility and ensuring compliance with modern standards.