Truly International Holdings (0732) AI Stock Analysis

• Market Cap: HK$3.31B
• Dividend Yield: 9.26%
• Average Volume (3M): 2.22M
• Price to Earnings (P/E): 12.9
• Beta (1Y): 0.89
• Revenue Growth: 2.59%
• EPS Growth: 0.23%
• Country: HK
• Employees: 14,840
• Sector: Technology
• Sector Strength: 88
• Industry: Hardware, Equipment & Parts
• EPS (TTM): 0.04
• Shares Outstanding: 3,011,555,400
• 10 Day Avg. Volume: 2,360,930
• 30 Day Avg. Volume: 2,218,878
• PEG Ratio: 0.79
• Price to Book (P/B): 0.39
• Price to Sales (P/S): 0.20
• P/FCF Ratio: 0.53
• 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: 64 Neutral
• Price Target: HK$1.50 ▲(41.51% Upside)

Truly International Holdings' overall stock score is driven primarily by its mixed financial performance, with strong cash flow generation offsetting declining revenues and profitability challenges. The technical analysis suggests potential short-term weakness, but the valuation is attractive with a reasonable P/E ratio and high dividend yield. The absence of earnings call data and corporate events limits additional insights.

Positive Factors

Cash Generation

Strong cash generation provides financial flexibility, allowing the company to invest in growth opportunities, reduce debt, or return capital to shareholders.

Diversified Client Base

A diversified client base helps stabilize revenue against market fluctuations, reducing dependency on any single customer or industry.

Stable EBITDA Margins

Stable EBITDA margins indicate the company's ability to maintain profitability despite revenue challenges, reflecting operational efficiency.

Negative Factors

Declining Revenue

Declining revenue suggests challenges in maintaining market share or product demand, which could impact long-term growth prospects.

Low Net Profit Margin

A low net profit margin indicates limited profitability, which may constrain the company's ability to reinvest in the business or weather economic downturns.

Declining Equity

Declining equity can signal weakening financial health, potentially limiting the company's ability to secure financing or invest in growth initiatives.

Truly International Holdings Business Overview & Revenue Model

Company Description

Truly International Holdings Limited (0732) is a Hong Kong-based investment holding company primarily engaged in the manufacturing and distribution of electronic products, notably focusing on the production of eyewear, including optical glasses and sunglasses. The company operates within the broader consumer electronics sector and is known for its commitment to innovation and quality, catering to both retail and wholesale markets. Additionally, Truly International Holdings is involved in the research and development of new technologies to enhance its product offerings in various segments.

How the Company Makes Money

Truly International Holdings generates revenue primarily through the sale of its eyewear products to global retailers and distributors. The company has established a strong network of partnerships with various brands, allowing it to leverage these relationships to expand its market reach. Key revenue streams include direct sales of eyewear and accessories, as well as licensing agreements for its proprietary technologies. The company may also benefit from economies of scale in its manufacturing processes, which can lead to lower production costs and increased profit margins. Additionally, Truly International Holdings invests in research and development to innovate and diversify its product range, which can lead to new revenue opportunities.

Truly International Holdings Financial Statement Overview

Summary

Truly International Holdings exhibits mixed financial health. The income statement shows declining revenue and profitability challenges, albeit with stable EBITDA margins. The balance sheet reflects moderate leverage and financial stability, but declining equity poses a potential risk. The cash flow statement is a strong point, with substantial operating and free cash flow growth, providing a cushion for the company's financial operations.

Income Statement

Truly International Holdings shows a concerning trend with declining revenues over the past years, dropping from 22.5 billion to 17.8 billion between 2019 and 2024. Although there was a small revenue increase from 2023 to 2024, the net profit margin remains low at 1.69% in 2024. The company experienced a negative EBIT margin in 2024, which indicates operational challenges. However, EBITDA margins remain relatively stable, suggesting some resilience in operational cash generation.

Balance Sheet

The balance sheet is relatively stable with a debt-to-equity ratio of 0.73 in 2024, showing a manageable level of leverage. Stockholders' equity has declined slightly, suggesting potential risk. The equity ratio of 37.25% indicates a moderate level of financial stability. However, the declining trend in total assets and equity since 2020 may pose future risks.

Cash Flow

Operating cash flow has increased significantly to over 7.7 billion in 2024, reflecting strong cash generation capabilities. Free cash flow also shows robust growth, indicating efficient capital expenditure management. The free cash flow to net income ratio is high, suggesting that the company's cash flow generation significantly exceeds its net income, which is a positive indicator of financial health.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	17.35B	17.84B	15.59B	19.29B	22.54B	22.17B
Gross Profit	1.33B	1.39B	1.98B	2.28B	3.42B	2.92B
EBITDA	1.93B	1.97B	2.06B	2.34B	3.04B	2.48B
Net Income	268.62M	302.08M	262.80M	318.23M	1.38B	502.29M
Balance Sheet
Total Assets	25.19B	24.75B	24.51B	26.49B	29.73B	26.54B
Cash, Cash Equivalents and Short-Term Investments	1.23B	1.07B	802.29M	1.70B	1.65B	1.40B
Total Debt	6.93B	6.70B	6.68B	7.41B	6.79B	6.30B
Total Liabilities	15.64B	15.40B	14.68B	16.15B	18.07B	16.06B
Stockholders Equity	9.44B	9.22B	9.60B	9.99B	11.28B	9.37B
Cash Flow
Free Cash Flow	6.62B	6.83B	4.77B	3.68B	5.30B	1.23B
Operating Cash Flow	7.03B	7.40B	5.28B	4.57B	5.83B	2.29B
Investing Cash Flow	-1.62B	-1.81B	-825.53M	-1.70B	-587.08M	-1.08B
Financing Cash Flow	-5.40B	-5.38B	-4.50B	-2.80B	-4.31B	-506.00M

Truly International Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.06
• 50DMA: Positive
• 100DMA: Negative
• 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:0732, the sentiment is Positive. The current price of 1.06 is below the 20-day moving average (MA) of 1.08, below the 50-day MA of 1.08, and above the 200-day MA of 1.06, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 59.54 is Neutral, neither overbought nor oversold. The STOCH value of 66.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0732.

Truly International Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
0710	78 Outperform	HK$3.92B	9.78	8.91%	3.25%	19.25%	-10.14%
0259	74 Outperform	HK$3.45B	0.88	108.05%	46.02%	12.26%	2497.49%
0040	69 Neutral	HK$685.89M	16.96	3.78%	3.73%	2.10%	―
0580	67 Neutral	HK$3.20B	18.17	8.36%	1.01%	46.98%	130.04%
0732	64 Neutral	HK$3.31B	12.88	2.87%	9.26%	2.59%	0.23%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
0894	54 Neutral	HK$393.04M	41.21	0.63%	0.63%	5.72%	-57.39%

Truly International Holdings Corporate Events

Truly International’s 2025 Turnover Declines on Weaker Monthly and Annual Sales

Truly International Holdings reported unaudited net consolidated turnover of approximately HK$1,275 million for December 2025, a 19.2% decline from the restated HK$1,577 million recorded in December 2024. For the full year ended 31 December 2025, the group’s unaudited net accumulative consolidated turnover fell 7.3% year on year to about HK$16,534 million from HK$17,840 million, signalling softer demand or pricing pressure across its business lines. The company said the update is intended to keep shareholders and potential investors informed of its latest business developments and cautioned investors to exercise care when dealing in its shares, underscoring ongoing operational headwinds and potential volatility in its stock performance.

The most recent analyst rating on (HK:0732) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on Truly International Holdings stock, see the HK:0732 Stock Forecast page.

Truly International Approves Acquisition Mandate for High-End Display Investments

Truly International Holdings Limited announced the successful approval of a resolution during its Extraordinary General Meeting (EGM) held on December 17, 2025. The resolution includes granting a mandate to bid for an 11.43% equity interest in Truly (Renshou) High-end Display Technology Limited for a consideration of up to RMB 1,050 million. This decision aims to strengthen the company’s portfolio in high-end display technologies, reaffirming its strategic efforts to expand operations in this advanced technology market.

The most recent analyst rating on (HK:0732) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on Truly International Holdings stock, see the HK:0732 Stock Forecast page.

Truly International Reports Decline in November 2025 Turnover

Truly International Holdings Limited reported a decrease in its unaudited net consolidated turnover for November 2025, amounting to approximately HK$1,278 million, which is a 14.9% decline compared to November 2024. The company’s accumulative turnover for the eleven months ending November 2025 was approximately HK$15,259 million, marking a 6.2% decrease from the same period in 2024. This announcement aims to inform shareholders and potential investors about the company’s recent business developments, advising caution in dealing with its shares.

The most recent analyst rating on (HK:0732) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on Truly International Holdings stock, see the HK:0732 Stock Forecast page.

Truly International Seeks Approval for Strategic Acquisition

Truly International Holdings Limited has announced an extraordinary general meeting to seek approval for a mandate allowing its directors to bid for approximately 11.43% of the equity interests in Truly (Renshou) High-end Display Technology Limited. The acquisition, valued at no more than RMB1,050 million, aims to strengthen the company’s position in the high-end display technology market.

The most recent analyst rating on (HK:0732) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on Truly International Holdings stock, see the HK:0732 Stock Forecast page.

Truly International Holdings Reports Decline in Turnover for October 2025

Truly International Holdings Limited, a company listed on the Hong Kong Stock Exchange, reported its unaudited net consolidated turnover for October 2025 as HK$1,457 million, marking a 6.4% decrease compared to the same month in 2024. The company’s accumulative turnover for the first ten months of 2025 was HK$13,981 million, a 5.3% decline from the previous year. This announcement aims to inform shareholders and potential investors about the company’s latest business developments, urging them to exercise caution when dealing with its shares.

The most recent analyst rating on (HK:0732) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on Truly International Holdings stock, see the HK:0732 Stock Forecast page.

Truly International Seeks Major Stake in Truly RS Through Public Tender

Truly International Holdings Limited has announced its intention to acquire approximately 11.43% of the equity interests in Truly RS through public tenders, with a total consideration of no more than RMB1,050 million. This acquisition, if successful, will be aggregated with a previous acquisition and will constitute a major transaction under the Listing Rules. The company is seeking shareholder approval in advance to expedite the process, and the outcome of the acquisition will depend on the results of the public tenders and subsequent agreements.

The most recent analyst rating on (HK:0732) stock is a Hold with a HK$1.00 price target. To see the full list of analyst forecasts on Truly International Holdings stock, see the HK:0732 Stock Forecast page.