Theme International Holdings Limited (0990) AI Stock Analysis

• Market Cap: €12.57B
• Dividend Yield: 2.27%
• Average Volume (3M): 48.30M
• Price to Earnings (P/E): 40.0
• Beta (1Y): 0.80
• Revenue Growth: -26.12%
• EPS Growth: -75.34%
• Country: HK
• Employees: 393
• Sector: Basic Materials
• Sector Strength: 63
• Industry: Steel
• EPS (TTM): 0.00
• Shares Outstanding: 14,286,345,000
• 10 Day Avg. Volume: 65,867,652
• 30 Day Avg. Volume: 48,301,180
• PEG Ratio: -0.72
• Price to Book (P/B): 1.95
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 2.73
• 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

• Rating: 64 Neutral
• Price Target: ―

Theme International Holdings Limited's overall stock score reflects its strong dividend yield and reasonable valuation, which are offset by financial performance challenges and mixed technical indicators. The company's financial stability, due to its low leverage, is a positive aspect, but operational inefficiencies and cash flow issues need addressing to improve its outlook.

Theme International Holdings Limited Business Overview & Revenue Model

Company Description

Theme International Holdings Limited (0990) is an investment holding company primarily engaged in the trading of bulk commodities. The company's key sectors include the trading of commodities such as coal, metals, and other resources. Its core services involve leveraging its expertise in the logistics and supply chain management of these materials to ensure efficient delivery to its clients.

How the Company Makes Money

Theme International Holdings Limited generates revenue through its involvement in the trading of bulk commodities. The company buys commodities like coal and metals from producers and sells them to end-users or other trading firms. Revenue is primarily earned through the margin between the purchase price and the selling price of these commodities. Additionally, the company may engage in strategic partnerships or joint ventures with other firms in the commodities sector to enhance its trading capabilities and expand its market reach. External factors such as commodity prices, demand fluctuations, and logistical efficiencies play a significant role in the company's earnings.

Theme International Holdings Limited Financial Statement Overview

Summary

Theme International Holdings Limited is experiencing financial challenges, with declining revenues and profitability margins. While the company maintains a strong balance sheet with low leverage, operational inefficiencies and cash management issues, such as a lack of free cash flow growth, are concerning.

Income Statement

Theme International Holdings Limited experienced a significant decline in revenue from 2023 to 2024, with a revenue drop of approximately 26%. Gross profit margin also decreased from 3.2% to 2.5%, and the net profit margin fell from 2.2% to 0.7%. The EBIT and EBITDA margins also saw reductions, indicating pressure on profitability. Although historical data shows revenue growth and profitability improvements from 2020 to 2022, recent performance highlights challenges and potential industry headwinds.

Balance Sheet

The company has maintained a strong equity position with an equity ratio of 32% in 2024, even though it experienced a drop from previous years. The debt-to-equity ratio is low, reflecting conservative leverage, which is favorable. However, the return on equity decreased significantly from 19.4% in 2023 to 4.8% in 2024, indicating decreased efficiency in generating returns on shareholders' equity despite maintaining a solid asset base.

Cash Flow

Cash flow statements reveal a concerning trend with operating cash flow failing to cover net income in 2024, leading to a zero free cash flow, a significant drop from previous years. This suggests challenges in cash generation despite maintaining positive free cash flow in prior periods. The absence of growth in free cash flow raises concerns about the company's ability to sustain operations without relying on external financing.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	40.91B	55.38B	39.09B	34.64B	16.00B
Gross Profit	1.03B	1.78B	2.08B	1.47B	627.55M
EBITDA	584.67M	1.55B	1.72B	1.30B	565.51M
Net Income	296.24M	1.20B	1.21B	997.97M	445.98M
Balance Sheet
Total Assets	18.98B	16.33B	13.62B	9.10B	4.01B
Cash, Cash Equivalents and Short-Term Investments	6.40B	5.86B	2.80B	895.89M	307.28M
Total Debt	152.95M	27.98M	191.68M	48.10M	17.38M
Total Liabilities	11.74B	9.06B	7.71B	4.77B	2.17B
Stockholders Equity	6.12B	6.20B	4.58B	3.49B	1.67B
Cash Flow
Free Cash Flow	0.00	3.06B	6.62B	4.73B	6.18B
Operating Cash Flow	4.39B	3.07B	6.65B	4.86B	6.18B
Investing Cash Flow	0.00	-181.44M	-248.66M	-347.42M	-81.83M
Financing Cash Flow	0.00	-2.93B	-4.46B	-3.94B	-6.40B

Theme International Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.87
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0990, the sentiment is Positive. The current price of 0.87 is above the 20-day moving average (MA) of 0.71, above the 50-day MA of 0.56, and above the 200-day MA of 0.44, indicating a bullish trend. The MACD of 0.09 indicates Negative momentum. The RSI at 84.05 is Negative, neither overbought nor oversold. The STOCH value of 96.40 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0990.

Theme International Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2388	78 Outperform	$391.72B	10.25	11.58%	5.37%	8.61%	16.84%
2317	77 Outperform	HK$928.87M	7.42	5.39%	14.59%	-1.88%	129.25%
0998	73 Outperform	$505.43B	6.10		4.73%	-4.36%	-12.66%
0990	64 Neutral	€12.57B	40.00	4.74%	2.27%	-26.12%	-75.34%
Sector *	59 Neutral	HK$16.45B	4.63	-5.52%	4.85%	-3.57%	-61.41%
0332	33 Underperform	HK$137.46M	―	-2465.61%	―	-68.87%	-635.59%

Theme International Holdings Limited Corporate Events

Theme International Holdings Reports Decline in 2024 Financial Results

Theme International Holdings Limited announced its audited financial results for the year ending December 31, 2024. The company reported a significant decline in revenue and profit compared to the previous year, with revenue dropping from HK$55.38 billion in 2023 to HK$40.91 billion in 2024, and profit attributable to owners decreasing from HK$1.20 billion to HK$296.24 million. The decline in financial performance is attributed to increased administrative expenses and a decrease in other income, gains, and losses. This downturn may impact the company’s market positioning and stakeholder confidence.

Theme International Announces New Tenancy Agreements and Asset Acquisition

Theme International Holdings Limited has announced the entry into a new tenancy agreement for 2025-2027 with Green Esteel for leasing new premises, and the assignment of the remaining term of a previous tenancy agreement from BPT to BPI. This move is part of a connected transaction involving a controlling shareholder, and the company will recognize right-of-use assets on its financial statements. The transactions are exempt from certain regulatory requirements but are subject to reporting and annual review obligations.

Theme International Holdings to Announce Annual Results and Consider Dividend

Theme International Holdings Limited has announced that its board of directors will convene on March 31, 2025, to approve the company’s annual results for the year ending December 31, 2024, and to discuss the possibility of declaring a final dividend. This meeting is significant as it will determine the financial performance of the company and potential returns for shareholders, impacting the company’s market positioning and stakeholder interests.

Theme International Holdings Announces Significant Profit Decrease for 2024

Theme International Holdings Limited has issued a profit warning, indicating a significant decrease in net profit for the year ending December 31, 2024. The expected net profit is approximately HK$330 million, down about 76% from the previous year. This decline is attributed to several factors including reduced profit margins in its distribution and trading segment due to a sluggish market, lower gains from financial assets, and losses from suspected fund misappropriation in a Singapore subsidiary. The company’s financial outcomes are based on preliminary assessment and may be subject to adjustments upon further review.