Dynasty Fine Wines Group Limited (0828) AI Stock Analysis

• Market Cap: HK$352.10M
• Dividend Yield: 1.3%
• Average Volume (3M): 197.93K
• Price to Earnings (P/E): 15.2
• Beta (1Y): 0.04
• Revenue Growth: -4.14%
• EPS Growth: -21.15%
• Country: HK
• Employees: 243
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Beverages - Wineries & Distilleries
• EPS (TTM): <0.01
• Shares Outstanding: 1,408,405,900
• 10 Day Avg. Volume: 304,200
• 30 Day Avg. Volume: 197,925
• PEG Ratio: 0.50
• Price to Book (P/B): 2.50
• Price to Sales (P/S): 2.85
• P/FCF Ratio: -19.10
• 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: 54 Neutral
• Price Target: HK$0.26 ▲(0.00% Upside)

The overall stock score of 54 reflects the company's strong profitability and equity growth, offset by significant concerns about cash flow adequacy. Technical indicators suggest bearish momentum, and the valuation is moderate with a fair P/E ratio and low dividend yield.

Positive Factors

Margin Strength

Sustained high gross and operating margins indicate the company captures pricing power and controls cost of goods sold. Durable margin profiles support internal reinvestment, resilience to cost volatility and consistent profitability that can underpin long‑term cash generation if operational cash converts.

Low Leverage and Improving ROE

An extremely low debt load and rising ROE signal financial conservatism and efficient equity use. This structural balance sheet strength lowers refinancing risk, limits interest expense pressure, and provides capacity to fund expansion or absorb shocks without compromising core operations over the medium term.

Diversified Revenue Channels

A multi-channel sales model across retail, branded and third-party product lines plus distributor partnerships diversifies revenue sources. This structural distribution mix reduces dependence on any single channel, supports market penetration, and helps sustain sales through changing consumer or retail dynamics over months to years.

Negative Factors

Zero Operating Cash Flow

Reporting zero operating cash flow in 2024 is a durable red flag: it undermines the firm's ability to fund day‑to‑day operations, capex and working capital from core business activities. If persistent, this necessitates external financing or asset sales and increases liquidity risk over the medium term.

Weak Free Cash Flow History

Zero/negative free cash flow constrains the company's capacity to invest, pay down liabilities or return capital to shareholders. A pattern of limited free cash generation reduces strategic optionality and increases vulnerability to shocks, limiting ability to capitalize on growth opportunities or sustain dividends long term.

Earnings Per Share Contraction

A ~21% decline in EPS signals pressure on per‑share earnings, which can reflect margin variability, share count changes, or non‑operating items. Persistent EPS contraction undermines shareholder returns and may indicate underlying volatility in profitability despite headline margin improvements, posing a medium‑term concern.

Dynasty Fine Wines Group Limited Business Overview & Revenue Model

Company Description

Dynasty Fine Wines Group Limited, an investment holding company, produces and sells grape wine products in the People's Republic of China. It offers approximately 100 types of wine products in five categories, including red wines, white wines, sparkling wines, ice wine, and brandy under the Dynasty brand name. The company also manufactures and sells unprocessed wine; and sells foreign brand wines. It sells its wine products through a network of distributors, as well as through online. Dynasty Fine The company was founded in 1980 and is based in Wanchai, Hong Kong.

How the Company Makes Money

Dynasty Fine Wines generates revenue through multiple channels, including the sale of its own branded wines and third-party wines. The company's primary revenue stream comes from retail sales through supermarkets, wine shops, and its own distribution network, which targets both local and international markets. Additionally, Dynasty Fine Wines engages in partnerships with various wine producers and distributors, enhancing its product offerings and market reach. The company also benefits from promotional activities and strategic marketing efforts aimed at increasing brand awareness and consumer loyalty, contributing to steady sales growth.

Dynasty Fine Wines Group Limited Financial Statement Overview

Summary

Dynasty Fine Wines Group Limited shows strong profitability and equity growth, with improving revenue and profit margins. However, the cash flow statement presents concerns with zero operational cash flow, suggesting potential liquidity issues.

Income Statement

Dynasty Fine Wines Group Limited has demonstrated significant improvement in its income statement metrics over the years. The gross profit margin for 2024 is 38.58%, showing a healthy profitability level. The company has shown positive revenue growth of 3.26% from 2023 to 2024, and a notable improvement from 2022 to 2023 with a growth rate of 8.87%. The net profit margin stands at 12.32% for 2024, which is a positive indicator of profitability. The EBIT margin has increased to 12.04% in 2024 from 7.32% in 2023, and the EBITDA margin is 12.03%. These improvements suggest a robust and growing profitability trend.

Balance Sheet

The balance sheet of Dynasty Fine Wines Group Limited reflects a strong equity position with a debt-to-equity ratio of 0.0043 in 2024, indicating low leverage. The return on equity (ROE) has improved to 10.79% in 2024 from 7.48% in 2023, showcasing effective use of equity capital to generate profits. The equity ratio increased to 53.41% in 2024, showing a strong equity base relative to total assets. Overall, the balance sheet indicates financial stability with low debt levels and steady equity growth.

Cash Flow

The cash flow statement reveals challenges for Dynasty Fine Wines Group Limited, with operating cash flow at zero in 2024. This lack of operational cash generation could pose liquidity challenges if sustained long-term. The free cash flow remains zero in 2024, reflecting potential issues in cash management and operational efficiency. Previous years showed negative free cash flow, although there was an improvement in 2023. The operating cash flow to net income and free cash flow to net income ratios cannot be calculated due to zero values, highlighting potential concerns in cash flow adequacy.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	258.80M	271.37M	262.80M	241.36M	305.95M	238.67M
Gross Profit	103.23M	104.72M	90.67M	92.35M	121.93M	60.12M
EBITDA	19.18M	32.66M	25.15M	20.02M	39.38M	188.61M
Net Income	23.10M	33.44M	21.34M	16.33M	32.81M	116.38M
Balance Sheet
Total Assets	523.81M	580.53M	578.89M	525.59M	598.34M	586.96M
Cash, Cash Equivalents and Short-Term Investments	86.24M	122.59M	166.74M	161.21M	196.81M	182.54M
Total Debt	702.00K	1.33M	2.30M	990.00K	2.58M	4.11M
Total Liabilities	177.49M	256.20M	278.97M	280.01M	340.81M	371.81M
Stockholders Equity	318.49M	310.00M	285.12M	229.82M	239.40M	197.67M
Cash Flow
Free Cash Flow	-20.74M	-40.57M	-28.82M	-18.26M	6.54M	9.53M
Operating Cash Flow	4.48M	-9.92M	-11.08M	-14.76M	12.59M	12.03M
Investing Cash Flow	-316.00K	-29.45M	-10.85M	-3.02M	-4.61M	-2.44M
Financing Cash Flow	-477.00K	-1.04M	29.79M	-1.86M	-2.11M	-2.67M

Dynasty Fine Wines Group Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.26
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0828, the sentiment is Negative. The current price of 0.26 is below the 20-day moving average (MA) of 0.27, below the 50-day MA of 0.27, and below the 200-day MA of 0.29, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 33.45 is Neutral, neither overbought nor oversold. The STOCH value of 34.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0828.

Dynasty Fine Wines Group Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
8509	63 Neutral	HK$212.00M	5.58	11.66%	―	15.66%	-1.25%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
0828	54 Neutral	HK$352.10M	15.24	7.46%	1.30%	-4.14%	-21.15%
8057	45 Neutral	HK$46.73M	-2.60	―	―	3.35%	17.48%
8146	45 Neutral	HK$688.52M	-15.78	-23.19%	―	-18.68%	-3305.88%
0389	40 Underperform	HK$129.67M	-1.98	-50.46%	―	―	―

Dynasty Fine Wines Group Limited Corporate Events

Dynasty Fine Wines Extends Put Option Deadline for Guizhou Joint Venture

Dynasty Fine Wines Group Limited has provided an update on the put option arrangements relating to Dynasty Fine Wines (Renhuai) Co., Ltd., its Guizhou-based joint venture in which the group currently holds 51% and Guowei Company holds 49%. Under a supplemental agreement signed on 5 January 2026, Dynasty Winery and Guowei Company have agreed to extend the period for exercising a put option—under which key distributors or Dynasty Winery itself may acquire Guowei’s 39% interest in the joint venture—to 30 September 2026, signalling the company’s intention to maintain flexibility over the future ownership structure and control of its Guizhou operations.

The most recent analyst rating on (HK:0828) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Dynasty Fine Wines Group Limited stock, see the HK:0828 Stock Forecast page.