Man Sang International Limited (HK:0938)
:0938
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Man Sang International
(0938)
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Rating:42Neutral
Price Target:
HK$0.40
▲(42.14% Upside)
Action:ReiteratedDate:04/01/26
The score is held down primarily by very weak financial performance (negative equity, heavy losses, and persistent cash burn). Technical indicators are mixed and do not show a clear bullish trend, and valuation support is limited given loss-making earnings and no dividend yield data.
Positive Factors
Diversified Revenue Streams
The company earns from cultured-pearl product sales and property investment/development. This durable mix across product sales and real-estate income can smooth cash flows versus a single-product jeweller, providing alternative liquidity and upside over the medium term if property assets are monetized or leased.
Negative Factors
Negative Shareholder Equity
Negative equity across multiple years is a severe solvency indicator. It materially reduces financial flexibility, elevates refinancing and covenant risk, and constrains the firm’s ability to absorb future losses or fund operations organically, making capital raises or restructuring likely necessary medium-term.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified Revenue Streams
The company earns from cultured-pearl product sales and property investment/development. This durable mix across product sales and real-estate income can smooth cash flows versus a single-product jeweller, providing alternative liquidity and upside over the medium term if property assets are monetized or leased.
Read all positive factors
Man Sang International (0938) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$275.06M
Dividend YieldN/A
Average Volume (3M)266.53K
Price to Earnings (P/E)―
Beta (1Y)-0.84
Revenue Growth-15.59%
EPS Growth24.48%
CountryHK
Employees274
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)-0.03
Shares Outstanding647,198,600
10 Day Avg. Volume526,581
30 Day Avg. Volume266,527
Financial Highlights & Ratios
PEG Ratio-0.08
Price to Book (P/B)-0.64
Price to Sales (P/S)4.65
P/FCF Ratio-12.79
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Man Sang International Business Overview & Revenue Model
Company Description
Man Sang International Limited, an investment holding company, engages in the development, leasing, and sale of properties in the People's Republic of China. The company sells residential apartments; and leases serviced apartments and shopping mal...
How the Company Makes Money
Man Sang International makes money primarily through the sale of cultured pearls and pearl-related jewelry to retailers, wholesalers, and individual customers globally. The company generates revenue by leveraging its expertise in processing and ma...
Man Sang International Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
6
Very Negative
Cash Flow
12
Very Negative
| Breakdown | TTM | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 112.36M | 138.05M | 137.14M | 116.66M | 158.73M | 124.85M |
| Gross Profit | 33.22M | 25.48M | 10.44M | -8.39M | -24.28M | 63.04M |
| EBITDA | -37.07M | -359.34M | -75.70M | -68.12M | -107.98M | -58.16M |
| Net Income | -431.29M | -592.21M | -482.92M | -371.74M | -521.82M | -190.84M |
Balance Sheet | ||||||
| Total Assets | 252.00M | 2.03B | 2.82B | 3.35B | 3.50B | 4.60B |
| Cash, Cash Equivalents and Short-Term Investments | 14.31M | 23.42M | 32.87M | 31.77M | 153.79M | 1.38B |
| Total Debt | 743.66M | 3.16B | 2.86B | 2.82B | 2.92B | 3.77B |
| Total Liabilities | 839.49M | 3.52B | 3.21B | 3.16B | 3.31B | 4.13B |
| Stockholders Equity | -586.74M | -1.49B | -396.33M | 191.27M | 186.42M | 470.48M |
Cash Flow | ||||||
| Free Cash Flow | 7.67M | -6.02M | -6.27M | -97.40M | -101.75M | -164.32M |
| Operating Cash Flow | 7.94M | -5.85M | -2.64M | -93.91M | -98.36M | -60.69M |
| Investing Cash Flow | -18.96M | -4.07M | -9.39M | -10.19M | -54.53M | -157.35M |
| Financing Cash Flow | 4.95M | 14.72M | 17.63M | -29.61M | -1.09B | 1.44B |
Man Sang International Technical Analysis
Positive
0.28
Price Trends
0.40
Positive
0.40
Positive
0.51
Negative
Market Momentum
<0.01
Positive
51.43
Neutral
25.99
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0938, the sentiment is Positive. The current price of 0.28 is below the 20-day moving average (MA) of 0.42, below the 50-day MA of 0.40, and below the 200-day MA of 0.51, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 51.43 is Neutral, neither overbought nor oversold. The STOCH value of 25.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0938.
Man Sang International Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | HK$679.00M | 3.24 | 5.28% | 4.14% | -5.08% | 27.33% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
61 Neutral | HK$251.27M | 2.51 | 2.29% | ― | 5.32% | 9.79% | |
52 Neutral | HK$258.39M | -2.67 | -4.29% | ― | 1303.01% | -45.00% | |
50 Neutral | HK$540.13M | -5.55 | 242.95% | ― | 19.34% | 18.13% | |
43 Neutral | HK$203.52M | 7.72 | 2.10% | ― | 0.88% | -25.81% | |
42 Neutral | HK$275.06M | -5.04 | ― | ― | -15.59% | 24.48% |
* Real Estate Sector Average
HK:0938
Man Sang International
0.43
<0.01
1.19%
HK:9608
Sundy Service Group Co. Ltd
0.05
-0.05
-48.54%
HK:9982
Central China Management Company Limited
0.07
-0.05
-40.91%
HK:0021
Great China Holdings (Hong Kong) Limited
0.07
-0.04
-38.10%
HK:2205
Kangqiao Service Group Limited
0.97
0.39
67.24%
HK:0432
Pacific Century Premium Developments Limited
0.27
0.08
39.47%
Man Sang International Corporate Events
Man Sang International Plans Capital Reorganisation and HK$594 Million Connected Convertible Bond Issue
Mar 25, 2026
Man Sang International has proposed a capital reorganisation that will reduce the par value of its existing shares from HK$0.50 to HK$0.10 and subdivide authorised but unissued shares, aligning all new shares to rank equally. The move is designed ...
Man Sang International Plans Major Connected Disposal of Subsidiary and Loan
Mar 12, 2026
Man Sang International has entered into a conditional sale and purchase agreement to dispose of the entire issued share capital of a wholly owned target company and to assign an associated shareholder loan to a purchaser wholly owned by its chairm...
Man Sang International Signs Connected Lease for New Lijiang Hotel Premises
Jan 28, 2026
Man Sang International’s subsidiary Lijiang Hotel has entered into a two-year connected lease agreement with Lijiang Doof to rent approximately 7,554 square metres of premises in Lijiang, Yunnan, for hotel use starting 1 February 2026, or a ...
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.