China Tangshang Holdings Limited. (0674) AI Stock Analysis

• Market Cap: HK$257.14M
• Dividend Yield: N/A
• Average Volume (3M): 257.67K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.28
• Revenue Growth: 10.80%
• EPS Growth: 70.76%
• Country: HK
• Employees: 21
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Services
• EPS (TTM): >-0.01
• Shares Outstanding: 3,428,466,600
• 10 Day Avg. Volume: 88,000
• 30 Day Avg. Volume: 257,666
• PEG Ratio: 0.23
• Price to Book (P/B): 0.80
• Price to Sales (P/S): 0.79
• P/FCF Ratio: -27.90
• 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: 44 Neutral
• Price Target: HK$0.07 ▼(-10.00% Downside)

The score is primarily weighed down by weak financial quality (loss-making operations, negative ROE, and sharply deteriorating free cash flow) and bearish technical signals (below major moving averages with negative MACD). Valuation provides limited support because the company is unprofitable (negative P/E) and no dividend yield is available.

Positive Factors

Strong revenue growth

Sustained top-line expansion at ~24% provides structural capacity to absorb fixed costs and invest in scale. Over months, higher revenue can improve utilization, support margin recovery if cost control continues, and fund strategic initiatives without immediate external funding.

Diversified revenue streams

A multi-stream business model spanning ceramics manufacturing, property development and hospitality reduces single-market dependency. Structural diversification smooths cyclicality in construction demand, supports cross-segment cash flows and offers multiple channels for long-term growth and partner-led distribution.

Improving leverage management

A modest improvement in debt-to-equity indicates management is addressing capital structure, lowering refinancing and solvency risk incrementally. Continued deleveraging would enhance financial flexibility for capex or opportunistic investments and reduce vulnerability to interest-rate or demand shocks.

Negative Factors

Negative profitability

Persistently negative EBIT and net margins signal structural operating inefficiencies or pricing pressure. Over the medium term this erodes retained earnings, limits reinvestment capacity and undermines the ability to generate sustainable shareholder returns without meaningful operational improvement or cost restructuring.

Collapsed free cash flow

A ~71% fall in free cash flow growth materially weakens the company's internal funding ability. Reduced cash conversion constrains capex, debt servicing and dividend capacity, increasing reliance on external financing and raising refinancing and liquidity risk over the next several months absent a cash-flow recovery.

High leverage remains

Despite slight improvement, elevated leverage leaves the company exposed to interest-rate rises and demand volatility. High debt levels restrict strategic flexibility, increase default risk under earnings pressure, and make financing more costly, which can hamper long-term investment and growth plans.

China Tangshang Holdings Limited. Business Overview & Revenue Model

Company Description

China Tangshang Holdings Limited, an investment holding company, engages in the property investment, development, and sub-leasing activities in Hong Kong and the People's Republic of China. The company develops real estate properties; and sub-leases and leases investment properties. It also provides loans to customers, including individuals and corporations. The company was formerly known as Culture Landmark Investment Limited and changed its name to China Tangshang Holdings Limited in August 2017. China Tangshang Holdings Limited is headquartered in Tsim Sha Tsui, Hong Kong.

How the Company Makes Money

China Tangshang Holdings Limited generates revenue through multiple key streams primarily centered around the production and sale of ceramic tiles. The company sells its products to various distributors and retailers, contributing significantly to its income. Additionally, it earns revenue from property development projects and investments in the hospitality sector, which further diversify its income sources. Strategic partnerships with construction firms and real estate developers also play a crucial role in driving sales and expanding market reach. The company benefits from economies of scale in manufacturing and distribution, ensuring competitive pricing and profitability.

China Tangshang Holdings Limited. Financial Statement Overview

Summary

Strong revenue growth (24.09%) is a positive, but negative profitability (net and EBIT margins), negative ROE, high leverage, and a steep decline in free cash flow growth (-71.02%) indicate meaningful operational and cash generation weakness.

Income Statement

The company has shown a positive revenue growth rate of 24.09% in the latest year, indicating a strong top-line performance. However, profitability metrics such as the net profit margin and EBIT margin are negative, reflecting operational challenges and inefficiencies. The gross profit margin has improved compared to the previous year, but the overall profitability remains a concern.

Balance Sheet

The debt-to-equity ratio has improved slightly, indicating better leverage management, but it remains relatively high, suggesting potential financial risk. The return on equity is negative, highlighting the company's struggle to generate profits from shareholders' equity. The equity ratio is stable, indicating a balanced asset structure.

Cash Flow

The company experienced a significant decline in free cash flow growth, with a negative growth rate of -71.02%. The operating cash flow to net income ratio is negative, indicating cash flow challenges. Despite these issues, the free cash flow to net income ratio remains stable at 1.0, suggesting that the company is managing its cash flow relative to its net income effectively.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	580.82M	580.82M	877.47M	650.77M	256.89M	56.16M
Gross Profit	110.53M	110.53M	103.96M	198.77M	101.27M	31.91M
EBITDA	-80.26M	-80.26M	-130.82M	157.46M	84.28M	-24.04M
Net Income	-89.06M	-89.06M	-115.06M	30.37M	8.02M	-13.35M
Balance Sheet
Total Assets	2.30B	2.30B	3.12B	4.29B	1.96B	1.90B
Cash, Cash Equivalents and Short-Term Investments	39.08M	39.08M	152.66M	429.09M	213.78M	175.94M
Total Debt	497.92M	497.92M	619.03M	652.36M	639.11M	839.46M
Total Liabilities	1.47B	1.47B	2.21B	3.25B	1.36B	1.33B
Stockholders Equity	570.64M	570.64M	665.52M	801.83M	386.46M	364.95M
Cash Flow
Free Cash Flow	-16.34M	-16.34M	-221.84M	357.21M	354.86M	-38.03M
Operating Cash Flow	-16.34M	-16.34M	-221.84M	357.21M	355.10M	-31.18M
Investing Cash Flow	1.10K	1.10K	25.66M	69.54M	6.77M	-236.51M
Financing Cash Flow	-86.54M	-86.54M	-59.97M	-154.35M	-280.89M	174.79M

China Tangshang Holdings Limited. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.08
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0674, the sentiment is Neutral. The current price of 0.08 is above the 20-day moving average (MA) of 0.08, below the 50-day MA of 0.08, and below the 200-day MA of 0.09, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 54.11 is Neutral, neither overbought nor oversold. The STOCH value of 56.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:0674.

China Tangshang Holdings Limited. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2165	74 Outperform	HK$514.23M	6.57	11.46%	―	5.01%	-31.83%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
3662	63 Neutral	HK$305.02M	7.24	3.28%	6.60%	-14.43%	-77.55%
2107	51 Neutral	HK$266.81M	-12.53	-4.06%	15.45%	6.30%	-128.34%
0674	44 Neutral	HK$257.14M	-4.14	-11.63%	―	10.80%	70.76%
9608	43 Neutral	HK$199.68M	22.61	2.06%	―	0.88%	-25.81%

China Tangshang Holdings Limited. Corporate Events

China Tangshang Holdings Reports Improved Interim Results Amid Revenue Decline

China Tangshang Holdings Limited reported its unaudited interim results for the six months ending September 30, 2025, revealing a significant decrease in revenue from HK$328.2 million in 2024 to HK$205.3 million in 2025. The company also reported a reduced loss of HK$10.1 million compared to a loss of HK$41.8 million in the previous year, attributed to lower costs and a favorable income tax credit, indicating some improvement in financial performance despite ongoing challenges.

The most recent analyst rating on (HK:0674) stock is a Hold with a HK$0.10 price target. To see the full list of analyst forecasts on China Tangshang Holdings Limited. stock, see the HK:0674 Stock Forecast page.

China Tangshang Holdings to Review Interim Results and Dividend

China Tangshang Holdings Limited has announced that its Board of Directors will hold a meeting on November 28, 2025, to review and approve the unaudited interim results for the six months ending September 30, 2025. The meeting will also consider the declaration of an interim dividend, if applicable. This announcement is significant as it highlights the company’s ongoing financial assessment and potential shareholder returns, which could impact investor confidence and market positioning.