Symphony Holdings Limited (1223) AI Stock Analysis

• Market Cap: HK$4.46B
• Dividend Yield: 0.32%
• Average Volume (3M): 2.99M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.11
• Revenue Growth: 1.21%
• EPS Growth: -5.68%
• Country: HK
• Employees: 217
• Sector: Real Estate
• Sector Strength: 53
• Industry: Apparel - Retail
• EPS (TTM): >-0.01
• Shares Outstanding: 2,974,225,000
• 10 Day Avg. Volume: 3,343,014
• 30 Day Avg. Volume: 2,992,037
• PEG Ratio: 0.55
• Price to Book (P/B): 1.04
• Price to Sales (P/S): 7.83
• P/FCF Ratio: 10.07
• 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
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 42 Neutral
• Price Target: HK$1.50 ▼(-4.46% Downside)

Symphony Holdings Limited's overall stock score is primarily impacted by its weak financial performance, characterized by declining revenues and consistent net losses. The technical analysis indicates a bearish trend, with the stock trading below key moving averages and nearing oversold conditions. The valuation is poor, with a negative P/E ratio and low dividend yield, further weighing down the score.

Positive Factors

Diversified business model

Symphony's portfolio spanning retail, property investment and logistics provides multiple structurally different revenue streams. Over 2-6 months this diversification reduces reliance on any single market cycle, supports cashflow smoothing and increases strategic optionality for reallocating capital.

Strategic partnerships and asset focus

A corporate emphasis on partnerships and asset optimization can permanently lower customer acquisition and operating costs while unlocking property or retail synergies. Structurally, effective partnerships expand distribution, improve margins and accelerate monetization of underutilized assets over the medium term.

Moderate leverage management

A moderate debt profile and controlled leverage preserve financial flexibility and reduce refinancing strain. Over the coming months this improves resilience to cash flow volatility, allows selective investment or working capital support, and lowers the probability of short-term solvency pressure.

Negative Factors

Declining revenues and recurring losses

Sustained top-line declines and repeated net losses indicate persistent demand or competitive challenges. Over a 2-6 month horizon, continued contraction limits operating leverage, reduces retained earnings, and hampers the company's ability to invest in turnaround initiatives or defend market share without structural change.

Volatile operating cash flow and negative FCF

Erratic operating cash flow and recurring negative free cash flow degrade the firm's capacity to self-finance operations and growth. Structurally, this forces reliance on external funding or asset disposals, raising execution and refinancing risk and constraining sustainable reinvestment into core businesses.

Negative operating margins and inefficiencies

The combination of healthy gross margins but negative EBIT/EBITDA suggests structural cost or SG&A inefficiencies and scale shortfalls. Over months this erodes cash reserves and limits capacity to absorb shocks, making durable profitability unlikely without meaningful cost restructuring or revenue recovery.

Symphony Holdings Limited Business Overview & Revenue Model

Company Description

Symphony Holdings Limited, an investment holding company, primarily operates as a retailing company. It operates through Branding, Retailing, and Financial Services segments. The company is involved in the retailing and provision of sourcing services for branded apparel, swimwear, and accessories; manufacturing and trading of healthcare products; and development and management of PONY and SKINS trademarks. It also manages and operates outlet malls, duty free shops, and fashion stores; and provides securities brokerage, margin financing, underwriting and placing, financial consulting, and money lending services. In addition, the company offers information, technology, corporate, and portfolio management services; accountancy, legal, secretarial, and cruiser services; and online trading platform support services. Further, it engages in the trading, retailing, and distribution of swimming apparel and accessories; property investment and holding activities; holding of club debentures; sub-licensing of trademark rights; and trading and wholesaling of sportswear. It operates in the People's Republic of China, Hong Kong, other Asian countries, the United States, the United Kingdom, and internationally. The company was formerly known as Liang Shing (Holdings) Limited and changed its name to Symphony Holdings Limited in 1997. Symphony Holdings Limited was incorporated in 1993 and is based in North Point, Hong Kong.

How the Company Makes Money

Symphony Holdings generates revenue through multiple streams, primarily from its investments in retail operations, property management, and logistics services. The retail segment focuses on the sale of consumer goods, leveraging both physical and online marketplaces to reach customers. In property investment, the company earns income from leasing and managing commercial and residential properties. Furthermore, the logistics division contributes to earnings by providing supply chain management solutions and distribution services. Key partnerships with local businesses and international brands enhance its market reach and facilitate collaborative ventures, thereby driving additional revenue growth.

Symphony Holdings Limited Financial Statement Overview

Summary

Symphony Holdings Limited faces significant financial challenges, including declining revenues and consistent net losses, impacting profitability and growth. The balance sheet shows a cautious but declining equity position, with moderate leverage. Cash flow volatility and negative free cash flow indicate liquidity issues that need addressing for future sustainability.

Income Statement

Symphony Holdings Limited has seen a consistent decline in revenue over recent years, with a notable decrease from 2019 to 2024. The company reported negative net income for most of the periods, indicating struggles in achieving profitability. The gross profit margin remains relatively high, suggesting efficient cost management despite declining revenues. However, the negative EBIT and EBITDA margins highlight operational inefficiencies and challenges in covering operational costs.

Balance Sheet

The company maintains a moderate debt-to-equity ratio, reflecting a balanced approach to leveraging. However, the overall trend shows decreasing stockholders' equity, which may pose a risk to financial stability. The equity ratio indicates a stable but declining ownership stake in assets, which could affect long-term financial health. Despite these challenges, the debt level is being managed without excessive increases, maintaining some financial stability.

Cash Flow

Operating cash flow has shown volatility, with significant fluctuations year-over-year. The free cash flow position has been negative in several periods, indicating cash management issues. The company's inability to generate consistent positive free cash flow to net income ratio signals potential liquidity concerns and constraints in reinvesting for growth without increasing debt levels.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	305.47M	307.56M	304.73M	279.15M	323.50M	352.16M
Gross Profit	281.40M	281.23M	275.60M	156.05M	188.83M	145.93M
EBITDA	56.35M	63.13M	-22.99M	80.58M	183.25M	-46.19M
Net Income	-128.07M	-143.12M	-205.91M	-81.66M	36.50M	-216.33M
Balance Sheet
Total Assets	4.44B	4.42B	4.88B	5.14B	5.77B	5.32B
Cash, Cash Equivalents and Short-Term Investments	164.98M	158.95M	235.62M	228.81M	436.44M	348.50M
Total Debt	1.38B	1.39B	1.58B	1.63B	1.83B	1.81B
Total Liabilities	2.10B	2.10B	2.34B	2.29B	2.60B	2.42B
Stockholders Equity	2.33B	2.31B	2.53B	2.83B	3.14B	2.89B
Cash Flow
Free Cash Flow	159.78M	239.22M	157.14M	-59.49M	-28.55M	-91.01M
Operating Cash Flow	163.76M	243.03M	183.35M	16.14M	78.50M	46.48M
Investing Cash Flow	70.48M	49.88M	-18.02M	60.08M	-102.70M	-129.05M
Financing Cash Flow	-258.41M	-347.02M	-136.13M	-240.88M	-76.56M	92.48M

Symphony Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 1.57
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1223, the sentiment is Neutral. The current price of 1.57 is above the 20-day moving average (MA) of 1.52, above the 50-day MA of 1.47, and above the 200-day MA of 1.16, indicating a neutral trend. The MACD of 0.01 indicates Positive momentum. The RSI at 49.68 is Neutral, neither overbought nor oversold. The STOCH value of 35.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:1223.

Symphony Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
3709	80 Outperform	HK$5.15B	9.90	10.59%	4.83%	-7.34%	-28.66%
0709	67 Neutral	HK$2.31B	10.65	10.57%	9.18%	3.78%	-21.19%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
1817	54 Neutral	HK$285.00M	7.89	4.51%	―	-7.95%	98.95%
1657	44 Neutral	HK$419.20M	-149.37	-7.01%	―	25.11%	64.76%
1223	42 Neutral	HK$4.46B	-28.60	-5.37%	0.32%	1.21%	-5.68%
0330	37 Underperform	HK$311.39M	―	―	―	―	―

Symphony Holdings Limited Corporate Events

Symphony Holdings Announces Change in Share Registrar

Symphony Holdings Limited has announced a change in its Hong Kong branch share registrar and transfer office, effective from January 1, 2026. The new registrar will be Tricor Investor Services Limited, and all share transfer applications should be directed to them from January 2, 2026. This change is expected to streamline the company’s share management processes and improve operational efficiency.

The most recent analyst rating on (HK:1223) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on Symphony Holdings Limited stock, see the HK:1223 Stock Forecast page.