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Tiangong International Co. Ltd.
(0826)
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Rating:60Neutral
Price Target:
HK$3.50
▲(11.11% Upside)
Action:Reiterated
Date:06/17/26
The score is held back primarily by financial performance—especially volatile cash conversion and negative 2025 free cash flow alongside rising leverage—partly offset by constructive technical momentum. Valuation is a secondary headwind due to a higher P/E and modest dividend yield.
Positive Factors
Specialized product mix: specialty steel & cutting tools
Tiangong's focus on specialty steels and cutting tools represents a durable, higher-value business model that serves machining and industrial customers. This engineered product mix supports repeat demand, stronger customer relationships and pricing resilience versus commodity steel exposure.
Negative Factors
Volatile cash generation; negative free cash flow in 2025
Cash conversion is inconsistent: operating cash flow lagged net income and free cash flow went negative in 2025. Persistent volatility in OCF and FCF reduces ability to fund capex, pay down debt, or return capital, increasing structural financing and reinvestment risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Specialized product mix: specialty steel & cutting tools
Tiangong's focus on specialty steels and cutting tools represents a durable, higher-value business model that serves machining and industrial customers. This engineered product mix supports repeat demand, stronger customer relationships and pricing resilience versus commodity steel exposure.
Read all positive factors
Tiangong International Co. Ltd. (0826) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$9.62B
Dividend Yield1.9%
Average Volume (3M)30.45M
Price to Earnings (P/E)20.8
Beta (1Y)0.90
Revenue Growth-2.31%
EPS Growth12.27%
CountryHK
Employees3,527
SectorBasic Materials
Sector Strength58
IndustrySteel
Share Statistics
EPS (TTM)0.15
Shares Outstanding2,725,000,000
10 Day Avg. Volume44,114,600
30 Day Avg. Volume30,447,205
Financial Highlights & Ratios
PEG Ratio1.20
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$5.04Price Target Upside59.92% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.23
Revenue Forecast (FY)HK$6.05B
Tiangong International Co. Ltd. Business Overview & Revenue Model
Company Description
Tiangong International Company Limited focuses on the fabrication and supply of specialty metallic materials and tools. Its core product lines feature die steel (DS), high-speed steel (HSS), various cutting implements, and titanium alloys. The ent...
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
Neutral
3.15
Price Trends
3.57
Negative
3.56
Negative
3.25
Positive
Market Momentum
0.06
Positive
45.85
Neutral
16.87
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0826, the sentiment is Neutral. The current price of 3.15 is below the 20-day moving average (MA) of 3.60, below the 50-day MA of 3.57, and below the 200-day MA of 3.25, indicating a neutral trend. The MACD of 0.06 indicates Positive momentum. The RSI at 45.85 is Neutral, neither overbought nor oversold. The STOCH value of 16.87 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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$572.62M | 3.57 | 11.64% | 7.84% | -13.96% | -1.91% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | HK$9.62B | 20.80 | 5.45% | 1.90% | -2.31% | 12.27% | |
53 Neutral | HK$230.54M | 0.81 | 16.71% | ― | -20.11% | 15.44% | |
47 Neutral | HK$20.06B | -865.52 | -0.09% | ― | -4.43% | 99.48% | |
44 Neutral | HK$12.40B | -3.66 | -18.53% | ― | -13.27% | 4.42% | |
43 Neutral | HK$18.51B | -3.45 | -11.13% | ― | -7.68% | 15.78% |
* Basic Materials Sector Average
HK:0826
Tiangong International Co. Ltd.
3.53
1.56
79.01%
HK:0347
Angang Steel Co
1.10
-0.55
-33.33%
HK:0323
Maanshan Iron & Steel Co
1.61
-0.34
-17.44%
HK:1053
Chongqing Iron & Steel Co., Ltd. Class H
0.88
-0.02
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Maike Tube Industry Holdings Limited
1.32
-0.08
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HK:1938
Chu Kong Petroleum & Natural Gas Steel Pipe Holdings Ltd.
0.23
>-0.01
-0.87%
Tiangong International Co. Ltd. Corporate Events
Tiangong International Sets Final 2025 Dividend and HKD Payout Terms
Jun 17, 2026
Tiangong International Company Limited has announced a proposed final ordinary dividend for the financial year ended 31 December 2025, set at RMB 0.0253 per share, with shareholder approval obtained on 16 June 2026. The company updated the exchang...
Tiangong International Wins Shareholder Backing for Dividend, Board Changes and Capital Mandates
Jun 16, 2026
Shareholders of Tiangong International Company Limited approved all resolutions at the 16 June 2026 annual general meeting, including the 2025 audited accounts, re-appointment and election of directors, and re-appointment of KPMG as auditors. The ...
Tiangong International Sets Out Board and Committee Composition
Jun 16, 2026
Tiangong International Company Limited has announced the current composition of its board of directors, listing four executive directors, including Chairman Zhu Xiaokun and Chief Executive Officer Zhu Zefeng, alongside three independent non‑...
Tiangong International Declares Final 2025 Cash Dividend and Sets Key Dates
Jun 16, 2026
Tiangong International Company Limited has announced a proposed final ordinary cash dividend of RMB 0.0253 per share for the financial year ended 31 December 2025, equivalent to HKD 0.0291 per share based on an exchange rate of RMB 1 to HKD 1.1502...
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...
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.