Hengan International Group Co Ltd (HK:1044)
:1044
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Hengan International Group Co
(1044)
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Rating:60Neutral
Price Target:
HK$28.00
▲(7.86% Upside)
Action:DowngradedDate:04/17/26
The score is driven primarily by steady (but low-growth) financial performance with solid cash generation and manageable leverage, supported by a reasonable P/E and high dividend yield. This is partially offset by weak near-term technical momentum (below key moving averages with negative MACD and low RSI).
Positive Factors
Consistent free cash flow generation
Meaningful free cash flow (~2.2B in 2025) provides durable funding for dividends, working capital and selective reinvestment. Over 2-6 months this underpins financial flexibility, ability to sustain payouts and absorb cyclical cost swings despite some year-to-year volatility.
Negative Factors
Stagnant to declining top-line
Persistent flat-to-declining revenue reduces operating leverage and constrains long-term growth prospects. Without durable top-line momentum, margins and returns are harder to expand and the company may need sustained investment to defend share in competitive FMCG channels.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent free cash flow generation
Meaningful free cash flow (~2.2B in 2025) provides durable funding for dividends, working capital and selective reinvestment. Over 2-6 months this underpins financial flexibility, ability to sustain payouts and absorb cyclical cost swings despite some year-to-year volatility.
Read all positive factors
Hengan International Group Co (1044) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$31.09B
Dividend Yield5.36%
Average Volume (3M)2.04M
Price to Earnings (P/E)11.6
Beta (1Y)0.70
Revenue Growth1.76%
EPS Growth10.34%
CountryHK
Employees24,000
SectorConsumer Defensive
Sector Strength42
IndustryHousehold & Personal Products
Share Statistics
EPS (TTM)1.10
Shares Outstanding1,162,121,000
10 Day Avg. Volume1,895,839
30 Day Avg. Volume2,040,272
Financial Highlights & Ratios
PEG Ratio1.45
Price to Book (P/B)1.31
Price to Sales (P/S)1.27
P/FCF Ratio13.01
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$30.45Price Target Upside17.30% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)2.21
Revenue Forecast (FY)HK$23.67B
Hengan International Group Co Business Overview & Revenue Model
Company Description
Hengan International Group Company Limited, an investment holding company, manufactures, distributes, and sells personal hygiene products in the People's Republic of China and internationally. The company offers pocket handkerchiefs, box and soft ...
How the Company Makes Money
Hengan makes money mainly by selling fast-moving consumer goods (FMCG) in the personal hygiene and household paper categories. Its core revenue streams come from (1) personal hygiene products—particularly sanitary napkins and diapers (including ba...
Hengan International Group Co Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
58
Neutral
Cash Flow
66
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 22.47B | 22.67B | 23.77B | 22.62B | 20.79B |
| Gross Profit | 7.60B | 7.32B | 8.01B | 7.69B | 7.77B |
| EBITDA | 3.39B | 4.43B | 5.14B | 4.12B | 4.55B |
| Net Income | 2.47B | 2.30B | 2.80B | 1.93B | 3.27B |
Balance Sheet | |||||
| Total Assets | 43.20B | 39.80B | 40.22B | 42.34B | 42.29B |
| Cash, Cash Equivalents and Short-Term Investments | 15.62B | 14.32B | 18.22B | 18.70B | 18.26B |
| Total Debt | 15.77B | 13.11B | 14.27B | 17.07B | 18.26B |
| Total Liabilities | 21.22B | 18.66B | 19.59B | 22.56B | 23.01B |
| Stockholders Equity | 21.76B | 20.92B | 20.40B | 19.52B | 19.04B |
Cash Flow | |||||
| Free Cash Flow | 2.19B | 1.52B | 2.35B | 2.57B | 3.82B |
| Operating Cash Flow | 3.24B | 3.07B | 3.88B | 3.81B | 4.60B |
| Investing Cash Flow | -5.68B | -110.26M | 3.58B | -6.07B | 2.68B |
| Financing Cash Flow | 769.03M | -3.59B | -5.55B | -4.14B | -6.49B |
Hengan International Group Co Technical Analysis
Negative
25.96
Price Trends
28.22
Negative
28.13
Negative
26.43
Negative
Market Momentum
-0.27
Positive
27.17
Positive
11.92
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1044, the sentiment is Negative. The current price of 25.96 is below the 20-day moving average (MA) of 27.60, below the 50-day MA of 28.22, and below the 200-day MA of 26.43, indicating a bearish trend. The MACD of -0.27 indicates Positive momentum. The RSI at 27.17 is Positive, neither overbought nor oversold. The STOCH value of 11.92 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1044.
Hengan International Group Co Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | HK$19.71B | 24.23 | 42.05% | 2.53% | 35.28% | 41.20% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
60 Neutral | HK$31.09B | 11.55 | 11.65% | 5.36% | 1.76% | 10.34% | |
52 Neutral | HK$88.55M | 27.02 | 2.58% | ― | 8.10% | -36.36% | |
48 Neutral | HK$951.00M | 92.72 | -12.38% | ― | 52.36% | ― | |
44 Neutral | HK$18.35B | -43.19 | -4.30% | 5.00% | -1.71% | 53.04% |
* Consumer Defensive Sector Average
HK:1044
Hengan International Group Co
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Hengan International Group Co Corporate Events
Hengan International Clarifies AGM Date After Clerical Error in Circular
Apr 15, 2026
Hengan International Group Company Limited has issued a clarification regarding its previously distributed circular and notice of annual general meeting to shareholders. The company, whose shares trade on the Hong Kong Stock Exchange, remains focu...
Hengan Sets 2026 AGM to Vote on Dividend, Director Slate and Share Buyback Mandate
Apr 15, 2026
Hengan International Group Company Limited has called its annual general meeting for 18 May 2026 in Hong Kong, where shareholders will review the audited consolidated accounts and reports for the year ended 31 December 2025 and vote on a proposed ...
Hengan International Reassigns Veteran Executive Xu Wenmo to Non-Executive Board Role
Apr 15, 2026
Hengan International Group has proposed the re-designation of Xu Wenmo from executive director to non-executive director, effective after his expected re-election at the 18 May 2026 annual general meeting. Xu, currently vice president overseeing l...
Hengan International Outlines Board and Committee Structure
Mar 31, 2026
Hengan International Group Company Limited has announced the current composition of its board of directors, led by executive director and chairman Mr. Sze Man Bok and executive director and chief executive officer Mr. Hui Ching Lau, alongside seve...
Hengan International Announces CFO and Company Secretary Transition Effective April 2026
Mar 31, 2026
Hengan International Group has announced that Mr. Li Wai Leung will resign as executive director, chief financial officer, company secretary, and authorised representative with effect from 1 April 2026, to pursue other career opportunities. The bo...
Hengan Raises RMB2 Billion in Third Tranche of Super Short-Term Commercial Papers
Mar 31, 2026
Hengan International Group Company Limited has completed the issuance of the third tranche of its super short-term commercial papers, raising RMB2 billion with a 1.68% annual coupon and a 183-day term. This issue forms part of a broader RMB7.5 bil...
Hengan International Lifts 2025 Profit on Higher Margins and Efficiency Gains
Mar 17, 2026
Hengan International reported a modest 1.8% rise in 2025 revenue to RMB23.07 billion, driven by a 1.9% increase in its core tissue and hygiene products business, while gross margin improved to 33.8% from 32.3%. Profit attributable to shareholders ...
Hengan International Declares Final 2025 Dividend in Cash
Mar 17, 2026
Hengan International Group Company Limited has declared a final ordinary dividend of RMB 0.7 per share for the financial year ended 31 December 2025, subject to shareholder approval on 18 May 2026. The payout, to be settled in Hong Kong dollars at...
Hengan Sets March Board Meeting to Approve 2025 Results and Consider Final Dividend
Mar 2, 2026
Hengan International Group Company Limited has scheduled a board meeting for 17 March 2026 to review and approve the audited final results for the financial year ended 31 December 2025. The board will also consider the declaration and payment of a...
Hengan Issues RMB2 Billion Second Tranche of Super Short-Term Commercial Papers
Feb 9, 2026
Hengan International Group Company Limited has issued the second tranche of its super short-term commercial papers in mainland China’s interbank bond market. The company completed the RMB2 billion issuance on 9 February 2026, setting a coupo...
Hengan International Issues First RMB1 Billion Tranche of Super Short-Term Commercial Paper
Jan 19, 2026
Hengan International has completed the issuance of its first tranche of super short-term commercial papers under a previously approved RMB7.5 billion debt financing program, raising RMB1 billion at a 1.72% coupon for 179 days. The proceeds will be...
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.