Anxian Yuan China Holdings Limited (0922) AI Stock Analysis

• Market Cap: HK$284.33M
• Dividend Yield: 9.17%
• Average Volume (3M): 1.44M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.16
• Revenue Growth: -7.05%
• EPS Growth: -43.44%
• Country: HK
• Employees: 226
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Personal Products & Services
• EPS (TTM): >-0.01
• Shares Outstanding: 2,221,363,000
• 10 Day Avg. Volume: 1,315,276
• 30 Day Avg. Volume: 1,439,892
• PEG Ratio: -0.58
• Price to Book (P/B): 0.37
• Price to Sales (P/S): 1.46
• P/FCF Ratio: 5.10
• 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: 62 Neutral
• Price Target: HK$0.12 ▲(10.91% Upside)
• Action: Reiterated Date: 12/02/25
• Date: Action: Reiterated 12/02/25

The overall stock score of 62 reflects a mix of strong financial stability and favorable valuation, offset by weak technical indicators. The company's solid balance sheet and attractive dividend yield are significant positives. However, declining profitability and bearish technical signals pose challenges. The absence of earnings call data and notable corporate events limits further insights.

Positive Factors

Very low leverage

Exceptionally low debt levels give the company durable financial flexibility to fund capex, pursue new waste-treatment projects or absorb regulatory/lifecycle costs without refinancing risk. This strengthens its ability to win government contracts and sustain operations through downturns.

High gross profit margins

Sustained gross margins above 70% indicate structural cost advantages or pricing power in waste management and energy-saving product lines. High underlying margins provide a buffer for SG&A or investment needs and support long-term reinvestment and resilience to commodity or input cost swings.

Positive free cash flow growth

Improving free cash flow growth demonstrates the business can generate cash beyond accounting profits, enabling sustained capex for facility upkeep, dividends, or strategic investments. Reliable FCF underpins financial stability and long-term project execution capacity.

Negative Factors

Declining revenue trend

Two consecutive years of revenue decline erode scale advantages and reduce operating leverage. Persistent top-line contraction risks underutilized capacity in treatment facilities, weaker bargaining power with customers, and limits on reinvestment needed to maintain market position.

Falling profitability and ROE

Material declines in net margin and ROE signal weakening efficiency in converting revenue into shareholder returns. Over time this can reduce retained earnings for growth, make the stock less attractive to capital providers, and constrain strategic investments or dividend sustainability.

Weakened operating cash conversion

A sharp drop in cash conversion quality raises concern about the reliability of reported earnings and the firm's ability to self-fund working capital and capex. Persistently lower conversion increases reliance on external funding and limits agility to invest in long-term facility upgrades.

Anxian Yuan China Holdings Limited Business Overview & Revenue Model

Company Description

Anxian Yuan China Holdings Limited, an investment holding company, engages in the cemetery business in the People's Republic of China. It provides funeral and burial services; sells tombs and niches; and operates the Bai Nian Ju building covering an area of approximately 30,000 square meters. The company was formerly known as China Boon Holdings Limited and changed its name to Anxian Yuan China Holdings Limited in July 2013. Anxian Yuan China Holdings Limited was incorporated in 1999 and is headquartered in Causeway Bay, Hong Kong.

How the Company Makes Money

Anxian Yuan generates revenue through multiple streams, primarily from the operation of its waste treatment facilities, which charge fees for waste disposal and management services. The company also earns income from the sale of energy-saving products, which cater to both industrial and commercial sectors. Additionally, Anxian Yuan benefits from government contracts and subsidies related to environmental initiatives, further bolstering its revenue. Strategic partnerships with local government bodies and private enterprises enhance its market reach and service capacity, contributing significantly to its earnings.

Anxian Yuan China Holdings Limited Financial Statement Overview

Summary

Anxian Yuan China Holdings Limited demonstrates strong gross profit margins and a solid balance sheet with low leverage. However, declining revenue growth and net profit margins, along with reduced return on equity, highlight challenges in maintaining profitability and growth. The cash flow position is stable, but efficiency in cash generation has shown some decline. Overall, the company is financially stable but faces challenges in sustaining growth and profitability.

Income Statement

The company has maintained a strong gross profit margin over the years, consistently above 70%, indicating efficient cost management. However, the net profit margin has shown a declining trend from 30.8% in 2023 to 21.6% in 2025, reflecting potential challenges in maintaining profitability. The revenue growth rate has been negative in the last two years, with a significant drop of 5.5% in 2025, which is a concern for future revenue generation.

Balance Sheet

The company has a very low debt-to-equity ratio, decreasing from 0.146 in 2021 to 0.048 in 2025, indicating strong financial stability and low leverage risk. However, the return on equity has decreased from 10.8% in 2023 to 5.4% in 2025, suggesting reduced efficiency in generating profits from shareholders' equity. The equity ratio remains strong, indicating a solid capital structure.

Cash Flow

The free cash flow growth rate has been positive in 2025 at 8.6%, showing improvement in cash generation. However, the operating cash flow to net income ratio has decreased from 1.17 in 2023 to 0.44 in 2025, indicating a potential decline in cash flow efficiency. The free cash flow to net income ratio remains strong, suggesting good cash conversion from profits.

Breakdown	TTM	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020
Income Statement
Total Revenue	232.62M	236.43M	284.43M	340.53M	310.95M	298.74M
Gross Profit	159.32M	172.98M	207.73M	251.41M	220.18M	212.94M
EBITDA	69.33M	98.85M	109.34M	169.84M	135.67M	139.97M
Net Income	27.69M	51.08M	57.82M	104.92M	73.13M	80.30M
Balance Sheet
Total Assets	1.31B	1.28B	1.28B	1.33B	1.34B	1.34B
Cash, Cash Equivalents and Short-Term Investments	227.62M	329.70M	339.43M	340.53M	209.87M	255.94M
Total Debt	56.22M	44.59M	17.74M	45.27M	49.45M	131.43M
Total Liabilities	359.15M	309.91M	296.46M	325.89M	335.74M	405.37M
Stockholders Equity	917.44M	937.65M	942.97M	970.33M	965.29M	897.19M
Cash Flow
Free Cash Flow	27.26M	67.51M	84.81M	184.43M	66.84M	104.58M
Operating Cash Flow	85.38M	72.45M	91.64M	186.51M	69.14M	109.02M
Investing Cash Flow	-158.38M	-129.85M	57.77M	-60.79M	-2.63M	-7.41M
Financing Cash Flow	-18.57M	-12.69M	-79.74M	-33.65M	-131.30M	63.93M

Anxian Yuan China Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.11
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0922, the sentiment is Positive. The current price of 0.11 is below the 20-day moving average (MA) of 0.12, below the 50-day MA of 0.12, and below the 200-day MA of 0.14, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 73.56 is Negative, neither overbought nor oversold. The STOCH value of 69.93 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0922.

Anxian Yuan China Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
0922	62 Neutral	HK$284.33M	-14.14	2.99%	9.17%	-7.05%	-43.44%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
1448	61 Neutral	HK$6.44B	-7.37	-3.58%	19.70%	-28.00%	-129.57%
6966	55 Neutral	HK$475.00M	-10.93	-3.06%	1.10%	-38.66%	-161.86%
8296	48 Neutral	HK$30.24M	-4.31	-3.96%	―	15.60%	62.35%

Anxian Yuan China Holdings Limited Corporate Events

Anxian Yuan China Holdings Reports Interim Loss Amid Rising Expenses

Anxian Yuan China Holdings Limited announced its interim results for the six months ending September 30, 2025, reporting a decrease in revenue to HK$98,499,000 compared to HK$102,307,000 in the same period of 2024. The company experienced a loss of HK$10,121,000, a significant decline from a profit of HK$18,236,000 in the previous year, mainly due to increased selling and distribution expenses. This financial performance may impact the company’s market positioning and stakeholder confidence.

Anxian Yuan China Holdings to Review Interim Results and Dividend Proposal

Anxian Yuan China Holdings Limited has announced a board meeting scheduled for November 21, 2025, to review and approve the unaudited interim results for the six months ending September 30, 2025. The meeting will also consider the recommendation of an interim dividend, which could impact shareholders and the company’s financial strategy.

Anxian Yuan China Holdings Issues Profit Warning for 2025

Anxian Yuan China Holdings Limited has issued a profit warning indicating an expected loss for the period ending September 30, 2025, compared to a profit in the previous year. This anticipated loss is primarily due to additional revaluation of Value Added Tax and PRC Income Tax amounting to approximately HK$15.6 million, which were paid by its PRC subsidiaries for prior periods. Despite this, the company does not foresee a material adverse effect on its operations, although the interim results are still being finalized and may differ from current assessments.