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APAC Resources
(1104)
APAC Resources (1104) vs. iShares MSCI Hong Kong ETF (EWH)
APAC Resources Business Overview & Revenue Model
APAC Resources Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 353.13M | ― | 353.13M | 1.19B | 540.04M | 555.30M |
| Gross Profit | 13.83M | ― | 13.83M | 93.38M | 112.16M | 284.24M |
| EBITDA | -84.52M | ― | -84.52M | 408.67M | -50.70M | -438.34M |
| Net Income | 243.86M | ― | 243.86M | 390.03M | -318.55M | -465.99M |
Balance Sheet | ||||||
| Total Assets | 4.57B | ― | 4.57B | 4.22B | 3.90B | 4.47B |
| Cash, Cash Equivalents and Short-Term Investments | 2.62B | ― | 2.62B | 2.37B | 1.17B | 560.52M |
| Total Debt | 472.38M | ― | 472.38M | 281.72M | 187.48M | 292.77M |
| Total Liabilities | 546.23M | ― | 546.23M | 360.64M | 316.90M | 421.69M |
| Stockholders Equity | 4.02B | ― | 4.02B | 3.84B | 3.55B | 4.05B |
Cash Flow | ||||||
| Free Cash Flow | -182.71M | ― | 0.00 | -337.87M | -75.41M | -15.15M |
| Operating Cash Flow | -182.65M | ― | 0.00 | -336.15M | -73.53M | -14.13M |
| Investing Cash Flow | 63.78M | ― | 0.00 | 352.28M | -34.12M | -139.13M |
| Financing Cash Flow | 151.36M | ― | 0.00 | 6.51M | -234.68M | 128.55M |
APAC Resources Technical Analysis
APAC Resources Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | HK$1.86B | 29.91 | 0.95% | 3.28% | 9.64% | ― | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
63 Neutral | HK$1.85B | 27.20 | 2.39% | 2.14% | -20.02% | 10.62% | |
60 Neutral | HK$4.65B | 18.19 | 6.23% | 5.19% | -53.85% | -41.90% | |
53 Neutral | HK$2.29B | -35.80 | -2.44% | ― | -45.13% | 60.10% | |
44 Neutral | HK$1.86B | 92.86 | ― | ― | ― | ― | |
43 Neutral | HK$2.72B | -76.46 | -0.67% | ― | 76.19% | 90.88% |
APAC Resources Corporate Events
APAC Resources has alerted shareholders and investors that it expects to swing to a substantial interim profit for the six months ending 31 December 2025, forecasting attributable earnings of between HK$1.4 billion and HK$1.9 billion compared with a loss of about HK$309.9 million a year earlier. The improvement is mainly driven by a turnaround in its resource investment segment, which moved from a segment loss in the prior period to a profit contribution, and by the expected reversal of an earlier impairment loss on an associate, though the figures remain subject to audit review and possible adjustments, prompting the company to caution investors in trading its securities.
The most recent analyst rating on (HK:1104) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on APAC Resources stock, see the HK:1104 Stock Forecast page.
APAC Resources Limited has secured strong shareholder approval at its special general meeting on 8 January 2026 to change its domicile, adopt a new set of articles of association, and formalise a new Chinese name, signalling a significant corporate reorganisation of its legal and governance framework. Shareholders also overwhelmingly backed the elimination of the company’s contributed surplus balance by transferring it to the profit and loss appropriation account, a move that may provide greater flexibility in future capital management and distribution policies, while the near-unanimous voting support underlines investor alignment with the board’s restructuring strategy.
The most recent analyst rating on (HK:1104) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on APAC Resources stock, see the HK:1104 Stock Forecast page.
APAC Resources Limited has reported an unaudited consolidated net asset value (NAV) per share of HK$3.96 as at 30 November 2025, calculated on the basis of 1,476,350,749 shares in issue and reflecting the market value of its listed investments and associates. The voluntary disclosure provides investors with an updated snapshot of the company’s balance-sheet strength and portfolio valuation between reporting periods, offering additional transparency that may influence market perception of its intrinsic value and support stakeholders’ assessment of its financial position.
The most recent analyst rating on (HK:1104) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on APAC Resources stock, see the HK:1104 Stock Forecast page.
APAC Resources Limited has renewed its existing services arrangement with major shareholder Allied Group Limited by entering into a new 2026 Agreement, effective from 1 January 2026 to 31 December 2028, under which APAC will reimburse AGL for administrative and management services on a cost basis. The transaction is classified as a continuing connected transaction under Hong Kong Listing Rules but, given that the relevant percentage ratios exceed 0.1% and are below 5% and that administrative services sharing is fully exempt, it will be subject only to reporting, announcement and annual review requirements, avoiding the need for independent shareholders’ approval while formalising ongoing cost-sharing of management resources between the parties.
The most recent analyst rating on (HK:1104) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on APAC Resources stock, see the HK:1104 Stock Forecast page.
APAC Resources Limited has announced its intention to change its domicile from Bermuda to Hong Kong by obtaining relevant regulatory approvals and re-registering as a public company under Hong Kong’s Companies Ordinance. This move also includes adopting a new set of company articles, a Chinese company name, and transferring its contributed surplus account to the profit and loss account. The redomiciliation reflects the company’s efforts to align its operational base with Hong Kong’s regulatory framework, which may enhance its regional business positioning and streamline compliance.
The most recent analyst rating on (HK:1104) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on APAC Resources stock, see the HK:1104 Stock Forecast page.
APAC Resources Limited has announced that as of October 31, 2025, its unaudited consolidated net asset value per share is approximately HK$4.01. The company believes its current share price does not accurately reflect its true value and plans to issue regular monthly announcements to provide shareholders and potential investors with additional information to better evaluate their investments.
The most recent analyst rating on (HK:1104) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on APAC Resources stock, see the HK:1104 Stock Forecast page.
APAC Resources Limited has announced its intention to change its domicile from Bermuda to Hong Kong, in line with the Companies (Amendment) (No. 2) Ordinance 2025. This strategic move includes adopting new Articles of Association compliant with Hong Kong laws, officially registering a Chinese name, and reallocating its contributed surplus to its profit and loss appropriation account. These changes are subject to shareholder approval at a forthcoming special general meeting, reflecting the company’s efforts to streamline operations and strengthen its market presence in Hong Kong.
The most recent analyst rating on (HK:1104) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on APAC Resources stock, see the HK:1104 Stock Forecast page.
APAC Resources Limited held its Annual General Meeting on November 21, 2025, where all proposed resolutions were approved by shareholders. These resolutions included the adoption of financial statements, declaration of a final dividend, re-election of directors, reappointment of the auditor, and granting of mandates for issuing and repurchasing securities. The approval of these resolutions allows the company to issue up to 286,343,588 shares and repurchase up to 143,171,794 shares and 19,624,641 units of warrants, reflecting strong shareholder support and positioning the company for strategic financial maneuvers.
The most recent analyst rating on (HK:1104) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on APAC Resources stock, see the HK:1104 Stock Forecast page.
APAC Resources Limited has announced changes in its board of directors, with the retirement of Dr. Wong Wing Kuen, Albert as an independent non-executive director, and the appointment of Mr. Li Chak Hung to the same position. Mr. Li brings over 30 years of experience in accounting, auditing, taxation, and financial management, which is expected to strengthen the company’s governance and strategic oversight.
The most recent analyst rating on (HK:1104) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on APAC Resources stock, see the HK:1104 Stock Forecast page.
APAC Resources Limited has announced the composition and roles of its board of directors, effective from November 21, 2025. The board includes executive, non-executive, and independent non-executive directors, with specific members assigned to various board committees. This announcement provides clarity on the governance structure and may impact the company’s strategic direction and stakeholder relations.
The most recent analyst rating on (HK:1104) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on APAC Resources stock, see the HK:1104 Stock Forecast page.
APAC Resources Limited has announced its upcoming annual general meeting scheduled for November 21, 2025, in Hong Kong. Key agenda items include the adoption of financial statements, declaration of a final dividend, re-election of directors, and re-appointment of auditors. Additionally, the company seeks shareholder approval to authorize the board to issue new shares, which could impact the company’s capital structure and shareholder value.
The most recent analyst rating on (HK:1104) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on APAC Resources stock, see the HK:1104 Stock Forecast page.