VSTECS Holdings Limited (HK:0856)
:0856
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VSTECS Holdings Limited
(0856)
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Rating:73Outperform
Price Target:
HK$11.00
▲(18.28% Upside)
Action:UpgradedDate:04/25/26
The score is driven mainly by improved 2025 financial performance and solid earnings-quality signals, supported by a clear uptrend in price action and an attractive low P/E with a moderate dividend. The main constraints are structurally thin margins and historically volatile cash flow tied to working-capital swings, which can increase downside sensitivity in weaker demand cycles.
Positive Factors
2025 revenue and net income rebound
A clear re-acceleration in 2025 after softer 2022–2024 demonstrates recovery in core demand and execution. Durable impact: sustained revenue and profit improvement supports reinvestment in distribution capabilities and reduces near-term downside from the prior weak cycle.
Negative Factors
Structurally thin margins
Gross and net margins are inherently slim, leaving earnings highly sensitive to price competition, vendor incentives and cost inflation. Over the medium term this constrains cash flow buffers and magnifies the impact of any volume or pricing shocks on profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
2025 revenue and net income rebound
A clear re-acceleration in 2025 after softer 2022–2024 demonstrates recovery in core demand and execution. Durable impact: sustained revenue and profit improvement supports reinvestment in distribution capabilities and reduces near-term downside from the prior weak cycle.
Read all positive factors
VSTECS Holdings Limited (0856) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$14.11B
Dividend Yield3.21%
Average Volume (3M)10.08M
Price to Earnings (P/E)8.0
Beta (1Y)1.15
Revenue Growth9.59%
EPS Growth29.11%
CountryHK
Employees5,622
SectorTechnology
Sector Strength88
IndustryTechnology Distributors
Share Statistics
EPS (TTM)0.52
Shares Outstanding1,436,452,000
10 Day Avg. Volume6,639,702
30 Day Avg. Volume10,079,877
Financial Highlights & Ratios
PEG Ratio0.28
Price to Book (P/B)1.07
Price to Sales (P/S)0.11
P/FCF Ratio6.72
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$13.26Price Target Upside42.61% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)1.11
Revenue Forecast (FY)HK$110.51B
VSTECS Holdings Limited Business Overview & Revenue Model
Company Description
VSTECS Holdings Limited, an investment holding company, develops information technology (IT) product channel and provides technical solution integration services in North Asia and South East Asia. It operates through three segments: Enterprise Sys...
How the Company Makes Money
VSTECS primarily makes money through ICT product distribution and related value-added services. Its core revenue stream comes from selling third-party technology products (hardware, software, and cloud/IT solutions) sourced from upstream vendors t...
VSTECS Holdings Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
66
Positive
Cash Flow
70
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 97.63B | 89.09B | 73.89B | 77.32B | 78.34B |
| Gross Profit | 4.35B | 3.93B | 3.50B | 3.37B | 3.64B |
| EBITDA | 1.85B | 1.75B | 1.62B | 1.47B | 1.79B |
| Net Income | 1.35B | 1.05B | 922.03M | 823.07M | 1.31B |
Balance Sheet | |||||
| Total Assets | 43.02B | 38.39B | 35.02B | 34.77B | 32.18B |
| Cash, Cash Equivalents and Short-Term Investments | 7.89B | 5.44B | 4.13B | 8.23B | 4.13B |
| Total Debt | 9.24B | 9.68B | 8.44B | 8.65B | 6.53B |
| Total Liabilities | 32.60B | 29.52B | 26.80B | 27.11B | 24.27B |
| Stockholders Equity | 10.14B | 8.64B | 8.22B | 7.66B | 7.91B |
Cash Flow | |||||
| Free Cash Flow | 1.61B | 1.69B | 601.41M | -171.90M | 527.57M |
| Operating Cash Flow | 1.65B | 1.82B | 640.23M | -147.87M | 580.07M |
| Investing Cash Flow | -46.13M | -300.93M | 137.76M | -517.66M | -47.04M |
| Financing Cash Flow | -833.91M | -837.13M | -1.37B | 1.57B | -942.10M |
VSTECS Holdings Limited Technical Analysis
Positive
9.30
Price Trends
8.35
Positive
8.23
Positive
8.93
Positive
Market Momentum
0.25
Positive
56.84
Neutral
52.76
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0856, the sentiment is Positive. The current price of 9.3 is above the 20-day moving average (MA) of 8.99, above the 50-day MA of 8.35, and above the 200-day MA of 8.93, indicating a bullish trend. The MACD of 0.25 indicates Positive momentum. The RSI at 56.84 is Neutral, neither overbought nor oversold. The STOCH value of 52.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0856.
VSTECS Holdings Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | HK$3.29B | 5.07 | 18.01% | 8.89% | 10.01% | 11.08% | |
73 Outperform | HK$14.11B | 7.99 | 13.91% | 3.21% | 9.59% | 29.11% | |
65 Neutral | HK$2.62B | 4.14 | 16.24% | 4.42% | 9.60% | 5.62% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | HK$3.61B | 13.38 | 5.16% | ― | 50.32% | -1.54% | |
60 Neutral | HK$1.38B | 6.04 | 15.86% | 6.74% | 41.79% | 62.77% | |
56 Neutral | HK$510.68M | 6.65 | 20.37% | ― | 87.51% | 901.59% |
* Technology Sector Average
HK:0856
VSTECS Holdings Limited
9.79
4.17
74.20%
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2.27
1.03
83.06%
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S.A.S. Dragon Holdings Limited
5.47
1.84
50.69%
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2.86
1.20
72.29%
HK:3991
Changhong Jiahua Holdings Ltd.
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0.28
37.84%
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0.58
0.12
27.47%
VSTECS Holdings Limited Corporate Events
VSTECS Sets 2026 AGM to Approve Dividend, Board Mandates and Auditor
Apr 23, 2026
VSTECS Holdings Limited has called its annual general meeting for 26 May 2026 in Hong Kong, where shareholders will review the audited consolidated financial statements and directors’ and auditors’ reports for the year ended 31 Decembe...
VSTECS Plans New Articles to Allow Treasury Shares and Embrace Paperless Regime
Apr 21, 2026
VSTECS Holdings Limited is a Hong Kong-listed company incorporated in the Cayman Islands and governed by the Listing Rules of The Stock Exchange of Hong Kong Limited. Its board includes executive, non-executive and independent non-executive direct...
VSTECS Declares Final HK$0.4177 Dividend for 2025
Mar 19, 2026
VSTECS Holdings Limited has declared a final ordinary cash dividend of HKD 0.4177 per share for the financial year ended 31 December 2025, payable in Hong Kong dollars. The dividend is subject to shareholder approval on 26 May 2026, with an ex-div...
VSTECS Posts Higher 2025 Profit and Proposes Increased Final Dividend
Mar 19, 2026
VSTECS Holdings Limited reported strong financial results for the year ended 31 December 2025, with revenue rising to HK$97.63 billion from HK$89.09 billion a year earlier. Gross profit increased to HK$4.35 billion and operating profit reached HK$...
VSTECS Sets March 2026 Board Meeting to Approve 2025 Final Results
Feb 23, 2026
VSTECS Holdings Limited has scheduled a board meeting for 19 March 2026 in Hong Kong to review and approve the company’s final results for the financial year ended 31 December 2025. The board will also consider recommending a final dividend,...
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.