Tiangong International Co. Ltd. (HK:0826)
:0826
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Tiangong International Co. Ltd.
(0826)
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Rating:58Neutral
Price Target:
HK$4.00
▲(26.98% Upside)
Action:Reiterated
Date:05/14/26
The score is held back primarily by weak and volatile cash generation (including negative free cash flow in 2025) and rising leverage alongside normalized margins. These risks are partially offset by constructive price positioning above key moving averages and a relatively modest P/E valuation.
Positive Factors
Specialized product mix
Tiangong’s focus on high-speed steel, alloy/tool steel and downstream cutting tools creates durable product specialization and vertical exposure. That mix supports higher technical barriers, diversified end-market demand and the potential for better value capture across the tooling supply chain over cycles.
Negative Factors
Weak cash conversion
Operating cash flow lagging net income and a negative free cash flow in 2025 highlight poor cash conversion. Persistent working-capital swings or elevated capex undermine internal funding, reducing resilience and increasing reliance on external financing across medium-term cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Specialized product mix
Tiangong’s focus on high-speed steel, alloy/tool steel and downstream cutting tools creates durable product specialization and vertical exposure. That mix supports higher technical barriers, diversified end-market demand and the potential for better value capture across the tooling supply chain over cycles.
Read all positive factors
Tiangong International Co. Ltd. (0826) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$9.97B
Dividend Yield1.9%
Average Volume (3M)30.45M
Price to Earnings (P/E)9.7
Beta (1Y)0.90
Revenue Growth-2.31%
EPS Growth12.27%
CountryHK
Employees3,527
SectorBasic Materials
Sector Strength58
IndustrySteel
Share Statistics
EPS (TTM)0.14
Shares Outstanding2,725,000,000
10 Day Avg. Volume44,114,600
30 Day Avg. Volume30,447,205
Financial Highlights & Ratios
PEG Ratio1.22
Price to Book (P/B)1.01
Price to Sales (P/S)1.60
P/FCF Ratio-219.92
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$5.18Price Target Upside64.34% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)0.24
Revenue Forecast (FY)HK$6.12B
Tiangong International Co. Ltd. Business Overview & Revenue Model
Company Description
Tiangong International Company Limited produces and sells die steel (DS), high speed steel (HSS), cutting tools, and titanium alloys. The company operates in five segments: DS, HSS, Cutting Tools, Titanium Alloy, and Trading of Goods. It researche...
How the Company Makes Money
Tiangong International makes money primarily by manufacturing and selling (1) specialty steel products and (2) cutting tools. Its key revenue streams typically include: (a) sales of high-speed steel and alloy/tool steel products to industrial cust...
Tiangong International Co. Ltd. Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
64
Positive
Cash Flow
34
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.72B | 4.83B | 5.16B | 5.07B | 5.74B |
| Gross Profit | 951.89M | 983.54M | 1.14B | 1.15B | 1.41B |
| EBITDA | 857.04M | 808.09M | 1.05B | 839.85M | 1.15B |
| Net Income | 400.23M | 358.76M | 370.21M | 503.54M | 664.37M |
Balance Sheet | |||||
| Total Assets | 13.80B | 13.29B | 13.56B | 13.36B | 12.56B |
| Cash, Cash Equivalents and Short-Term Investments | 1.80B | 1.74B | 2.06B | 2.56B | 3.11B |
| Total Debt | 4.33B | 3.28B | 2.90B | 2.90B | 2.64B |
| Total Liabilities | 5.83B | 5.83B | 6.18B | 6.22B | 5.67B |
| Stockholders Equity | 7.43B | 7.09B | 7.06B | 6.86B | 6.63B |
Cash Flow | |||||
| Free Cash Flow | -34.28M | 212.47M | -244.03M | -192.75M | 88.83M |
| Operating Cash Flow | 294.44M | 501.76M | 55.13M | 303.55M | 542.30M |
| Investing Cash Flow | -309.50M | 450.41M | -223.41M | -271.29M | -810.92M |
| Financing Cash Flow | 4.89M | -622.01M | -304.42M | -186.41M | 799.56M |
Tiangong International Co. Ltd. Technical Analysis
Positive
3.15
Price Trends
3.50
Positive
3.48
Positive
3.10
Positive
Market Momentum
0.07
Negative
52.85
Neutral
59.09
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0826, the sentiment is Positive. The current price of 3.15 is below the 20-day moving average (MA) of 3.54, below the 50-day MA of 3.50, and above the 200-day MA of 3.10, indicating a bullish trend. The MACD of 0.07 indicates Negative momentum. The RSI at 52.85 is Neutral, neither overbought nor oversold. The STOCH value of 59.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0826.
Tiangong International Co. Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | HK$646.36M | 2.80 | 11.64% | 7.84% | -13.96% | -1.91% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | HK$9.97B | 9.75 | 5.40% | 1.90% | -2.31% | 12.27% | |
53 Neutral | HK$323.57M | 0.90 | 16.63% | ― | -20.11% | 15.44% | |
48 Neutral | HK$26.93B | 101.23 | -0.09% | ― | -4.43% | 99.48% | |
44 Neutral | HK$13.71B | -12.31 | -18.53% | ― | -13.27% | 4.42% | |
43 Neutral | HK$20.97B | -2.14 | -11.13% | ― | -7.68% | 15.78% |
* Basic Materials Sector Average
HK:0826
Tiangong International Co. Ltd.
3.63
1.77
95.06%
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0.67
41.87%
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Chongqing Iron & Steel Co., Ltd. Class H
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0.25
29.76%
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Chu Kong Petroleum & Natural Gas Steel Pipe Holdings Ltd.
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63.16%
Tiangong International Co. Ltd. Corporate Events
Tiangong International Sets 2026 AGM to Approve Dividend, Board Changes and Share Issue Mandate
Apr 29, 2026
Tiangong International Company Limited has called its annual general meeting for 16 June 2026 in Hong Kong, where shareholders will vote on approving the audited financial statements for the year ended 31 December 2025 and a proposed final dividen...
Tiangong Subsidiary TG Tech Affirms Integrity of 2026 Q1 Report and Highlights Disclosure Channels
Apr 29, 2026
Jiangsu Tiangong Technology Company Limited, the 67.63% owned Beijing Stock Exchange-listed subsidiary of Tiangong International, released highlights of its First Quarterly Report 2026, stressing governance discipline and regulatory compliance. Th...
Tiangong International Plans Board Succession as Veteran Executive Retires
Apr 29, 2026
Tiangong International Company Limited has announced that executive director Jiang Guangqing will retire and resign from the board following the company’s annual general meeting scheduled for June 16, 2026. The board noted that Jiang, who ha...
TG Tech Announces 2025 Annual Report Highlights and Dividend Plan
Mar 30, 2026
Jiangsu Tiangong Technology Company Limited, a 67.63%-owned subsidiary of Hong Kong–listed Tiangong International, released highlights of its 2025 annual report, confirming full board participation and approval as well as an unqualified audi...
Tiangong International Proposes Final Dividend for 2025 Financial Year
Mar 30, 2026
Tiangong International Company Limited has proposed a final ordinary cash dividend of RMB 0.0253 per share for the financial year ended 31 December 2025, with shareholder approval scheduled for 16 June 2026. The dividend, to be paid in Hong Kong d...
Tiangong International Lifts 2025 Earnings Despite Slight Revenue Decline
Mar 30, 2026
Tiangong International reported 2025 revenue of RMB4.72 billion, down 2.3% year on year, while gross profit slipped 3.2% to RMB951.9 million and gross margin edged slightly lower to 20.2%. Despite softer top-line performance, net profit attributab...
Tiangong International Sets March 30 Board Meeting to Approve 2025 Results
Mar 18, 2026
Tiangong International Company Limited has scheduled a board meeting for 30 March 2026 to review and approve its audited financial results for the year ended 31 December 2025. At the same meeting, the board will also consider whether to recommend ...
Tiangong International Doubles Stake in Chinese Laser Tech Firm Shanghai Gaize
Mar 3, 2026
Tiangong International has increased its stake in Shanghai Gaize Laser Technology, a Chinese laser technology company, through a further cash subscription of RMB3 million for 293,869 new shares. This move raises Tiangong’s indirect equity in...
Tiangong Subsidiary TG Tech Sees 2025 Profit Drop Amid Rising Assets
Mar 1, 2026
Tiangong International announced the 2025 preliminary annual results of its Beijing Stock Exchange-listed subsidiary Jiangsu Tiangong Technology Co., Ltd., showing a notable decline in profitability despite balance sheet expansion. TG Tech’s...
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.