S.A.S. Dragon Holdings Limited (HK:1184)
:1184
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S.A.S. Dragon Holdings Limited
(1184)
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Rating:74Outperform
Price Target:
HK$5.50
▲(24.43% Upside)
Action:ReiteratedDate:04/19/26
The score is driven primarily by attractive valuation (low P/E and high dividend yield) and supportive technical trend (price above key moving averages with positive MACD). Offsetting these positives, financial performance is only moderate due to very thin margins, higher leverage versus 2023, and volatile cash generation highlighted by the sharp 2025 free-cash-flow decline.
Positive Factors
Revenue Recovery
A clear revenue rebound (+14.3% in 2025) with improving net income signals renewed demand and operational traction. Over a 2–6 month horizon this suggests a stronger revenue base and less cyclical downside, supporting more predictable cash flows and planning for reinvestment.
Negative Factors
Thin Margins
Very low gross and net margins imply minimal buffer for cost inflation or pricing pressure typical in technology distribution. Structurally thin margins increase earnings sensitivity to volume swings and raise the risk that small adverse changes materially erode profitability and free cash flow.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Recovery
A clear revenue rebound (+14.3% in 2025) with improving net income signals renewed demand and operational traction. Over a 2–6 month horizon this suggests a stronger revenue base and less cyclical downside, supporting more predictable cash flows and planning for reinvestment.
Read all positive factors
S.A.S. Dragon Holdings Limited (1184) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$3.42B
Dividend Yield8.89%
Average Volume (3M)135.20K
Price to Earnings (P/E)5.1
Beta (1Y)0.31
Revenue Growth10.01%
EPS Growth11.08%
CountryHK
Employees510
SectorTechnology
Sector Strength88
IndustryTechnology Distributors
Share Statistics
EPS (TTM)0.47
Shares Outstanding625,837,460
10 Day Avg. Volume125,600
30 Day Avg. Volume135,200
Financial Highlights & Ratios
PEG Ratio0.45
Price to Book (P/B)0.89
Price to Sales (P/S)0.09
P/FCF Ratio3.55
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
S.A.S. Dragon Holdings Limited Business Overview & Revenue Model
Company Description
S.A.S. Dragon Holdings Limited, an investment holding company, distributes electronic components and semiconductor products in Hong Kong, Mainland China, Taiwan, Singapore, the United States, Vietnam, Macao, India, and internationally. The company...
S.A.S. Dragon Holdings Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
66
Positive
Cash Flow
58
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 30.54B | 27.76B | 22.37B | 24.97B | 35.30B |
| Gross Profit | 1.33B | 1.43B | 1.32B | 1.29B | 1.59B |
| EBITDA | 970.59M | 909.90M | 847.44M | 804.71M | 1.21B |
| Net Income | 556.72M | 501.24M | 403.80M | 400.34M | 713.19M |
Balance Sheet | |||||
| Total Assets | 10.90B | 10.25B | 7.83B | 8.14B | 9.33B |
| Cash, Cash Equivalents and Short-Term Investments | 3.91B | 3.05B | 1.67B | 1.54B | 1.89B |
| Total Debt | 2.68B | 2.39B | 1.06B | 1.60B | 2.52B |
| Total Liabilities | 7.34B | 7.16B | 5.00B | 5.13B | 6.49B |
| Stockholders Equity | 3.18B | 2.86B | 2.64B | 2.46B | 2.39B |
Cash Flow | |||||
| Free Cash Flow | 795.84M | 549.33M | 1.03B | 938.10M | 363.46M |
| Operating Cash Flow | 809.80M | 552.81M | 1.04B | 954.23M | 373.96M |
| Investing Cash Flow | 106.56M | 12.91M | 38.22M | -5.80M | 17.83M |
| Financing Cash Flow | -79.77M | 781.74M | -928.46M | -1.29B | 223.90M |
S.A.S. Dragon Holdings Limited Technical Analysis
Positive
4.42
Price Trends
4.74
Positive
4.64
Positive
4.56
Positive
Market Momentum
0.10
Negative
71.17
Negative
79.28
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1184, the sentiment is Positive. The current price of 4.42 is below the 20-day moving average (MA) of 4.76, below the 50-day MA of 4.74, and below the 200-day MA of 4.56, indicating a bullish trend. The MACD of 0.10 indicates Negative momentum. The RSI at 71.17 is Negative, neither overbought nor oversold. The STOCH value of 79.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1184.
S.A.S. Dragon Holdings Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | HK$3.42B | 5.07 | 18.01% | 8.89% | 10.01% | 11.08% | |
65 Neutral | HK$2.62B | 4.14 | 16.24% | 4.42% | 9.60% | 5.62% | |
63 Neutral | HK$1.76B | 1.42 | 3.40% | 4.94% | 17.39% | -55.26% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | HK$3.71B | 13.38 | 5.16% | ― | 50.32% | -1.54% | |
60 Neutral | HK$1.40B | 6.04 | 15.86% | 6.74% | 41.79% | 62.77% | |
56 Neutral | HK$623.56M | 6.65 | 20.37% | ― | 87.51% | 901.59% |
* Technology Sector Average
HK:1184
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S.A.S. Dragon Holdings Limited Corporate Events
S.A.S. Dragon Calls 2026 AGM, Proposes Dividend and Share Buyback Mandate
Apr 15, 2026
S.A.S. Dragon Holdings Limited has called its annual general meeting for 19 May 2026 in Shenzhen, where shareholders will review and adopt the audited financial statements and directors’ and auditors’ reports for the year ended 31 Dece...
S.A.S. Dragon Proposes New Bye-Laws to Align With Paperless and Uncertificated Regimes
Apr 15, 2026
S.A.S. Dragon Holdings Limited plans to replace its existing amended and restated bye-laws with a new set of second amended and restated bye-laws, subject to shareholder approval by special resolution at its annual general meeting scheduled for 19...
S.A.S. Dragon Lifts 2025 Profit and Revenue, Holds Dividend Steady
Mar 26, 2026
S.A.S. Dragon Holdings Limited reported strong audited results for the year ended 31 December 2025, with revenue rising 10.0% to HK$30.54 billion and profit attributable to shareholders increasing 11.1% to HK$556.7 million. Basic earnings per shar...
S.A.S. Dragon Declares Final HK$0.25 Dividend for 2025
Mar 26, 2026
S.A.S. Dragon Holdings Limited has declared a final ordinary cash dividend of HKD 0.25 per share for the financial year ended 31 December 2025, with payment scheduled for 10 June 2026 following shareholder approval on 19 May 2026. The ex-dividend ...
S.A.S. Dragon Exceeds Connected Transaction Cap, Tightens Controls
Mar 25, 2026
S.A.S. Dragon Holdings Limited has disclosed that its sale transactions with Hon Hai Group under a conditional master agreement for 2025 reached approximately HK$2.35 billion, exceeding the approved annual cap of HK$2.3 billion by 2.2%. This breac...
S.A.S. Dragon Sets March Board Meeting to Approve 2025 Results and Consider Final Dividend
Mar 16, 2026
S.A.S. Dragon Holdings Limited has scheduled a board meeting for 26 March 2026 to review and approve the annual financial results for the year ended 31 December 2025, along with authorising their publication. The board will also consider whether t...
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.