Quali-Smart Holdings Ltd. (HK:1348)
:1348
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Quali-Smart Holdings Ltd.
(1348)
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Rating:47Neutral
Price Target:
HK$0.19
▲(33.57% Upside)
Action:ReiteratedDate:03/24/26
The score is primarily held back by weak financial performance—persistent losses, shrinking revenue, and higher leverage from equity erosion—despite improved gross margin and positive recent free cash flow. Technicals are mixed with mildly weak momentum, and valuation support is limited due to negative earnings and no dividend yield.
Positive Factors
Cash generation
Sustained positive operating and free cash flow in 2024–2025 provides durable liquidity to fund operations and modest investment without immediate external financing. Over the next 2–6 months this reduces refinancing pressure, supports working capital needs and gives management time to execute a turnaround.
Negative Factors
Persistent net losses
Chronic net losses and negative operating profit imply the core business lacks scale or sustainable demand. Continued revenue contraction reduces fixed-cost absorption and limits margin recovery potential; absent a clear, durable revenue turnaround, losses will continue to erode capital and strategic optionality.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Sustained positive operating and free cash flow in 2024–2025 provides durable liquidity to fund operations and modest investment without immediate external financing. Over the next 2–6 months this reduces refinancing pressure, supports working capital needs and gives management time to execute a turnaround.
Read all positive factors
Quali-Smart Holdings Ltd. (1348) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$275.68M
Dividend YieldN/A
Average Volume (3M)5.79M
Price to Earnings (P/E)―
Beta (1Y)0.08
Revenue Growth-61.76%
EPS Growth75.15%
CountryHK
Employees47
SectorConsumer Cyclical
Sector Strength84
IndustryLeisure
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding1,474,232,000
10 Day Avg. Volume13,394,800
30 Day Avg. Volume5,793,666
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)2.47
Price to Sales (P/S)1.31
P/FCF Ratio7.91
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
Quali-Smart Holdings Ltd. Business Overview & Revenue Model
Company Description
Quali-Smart Holdings Limited, an investment holding company, engages in the manufacture and trading of toys and other products. The company operates through Manufacturing and Sales of Toys; and Financial Services segments. It offers securities bro...
Quali-Smart Holdings Ltd. Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
34
Negative
Cash Flow
55
Neutral
| Breakdown | TTM | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 41.46M | 71.93M | 177.26M | 341.80M | 448.65M | 485.79M |
| Gross Profit | 15.78M | 23.48M | 28.00M | 44.93M | 54.44M | 71.59M |
| EBITDA | -7.09M | -5.55M | -59.61M | -50.01M | -75.13M | -7.62M |
| Net Income | -18.43M | -17.87M | -73.94M | -72.32M | -94.37M | -35.63M |
Balance Sheet | ||||||
| Total Assets | 67.65M | 164.65M | 176.55M | 243.88M | 381.51M | 438.84M |
| Cash, Cash Equivalents and Short-Term Investments | 44.19M | 84.03M | 78.02M | 61.95M | 60.48M | 98.55M |
| Total Debt | 27.41M | 43.55M | 38.86M | 45.26M | 74.70M | 58.48M |
| Total Liabilities | 40.20M | 126.36M | 120.38M | 117.41M | 182.80M | 145.76M |
| Stockholders Equity | 27.45M | 38.24M | 56.11M | 126.39M | 198.71M | 293.08M |
Cash Flow | ||||||
| Free Cash Flow | 18.36M | 11.93M | 23.47M | 29.42M | -48.28M | 12.08M |
| Operating Cash Flow | 18.40M | 11.95M | 23.68M | 35.10M | -42.12M | 13.41M |
| Investing Cash Flow | -13.76M | -36.00M | -19.86M | 13.39M | 13.20M | -16.02M |
| Financing Cash Flow | -19.16M | -7.92M | -8.23M | -47.02M | 10.21M | -40.55M |
Quali-Smart Holdings Ltd. Technical Analysis
Positive
0.14
Price Trends
0.18
Positive
0.17
Positive
0.13
Positive
Market Momentum
<0.01
Negative
57.38
Neutral
66.73
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1348, the sentiment is Positive. The current price of 0.14 is below the 20-day moving average (MA) of 0.18, below the 50-day MA of 0.18, and above the 200-day MA of 0.13, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 57.38 is Neutral, neither overbought nor oversold. The STOCH value of 66.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1348.
Quali-Smart Holdings Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
55 Neutral | HK$163.00M | 4.03 | -42.82% | ― | -6.48% | -38.10% | |
51 Neutral | HK$41.73M | -16.67 | -1.88% | ― | 0.47% | -195.45% | |
50 Neutral | HK$325.17M | -2.22 | -37.46% | 4.17% | -13.08% | -21.27% | |
47 Neutral | HK$275.68M | -5.54 | -56.09% | ― | -61.76% | 75.15% | |
42 Neutral | HK$139.90M | -2.22 | -18.16% | ― | 84.26% | 44.41% | |
40 Neutral | HK$125.05M | -14.08 | -41.62% | ― | -13.96% | 64.58% |
* Consumer Cyclical Sector Average
HK:1348
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Quali-Smart Holdings Ltd. Corporate Events
Quali-Smart Wins Temporary Waiver as It Moves to Restore Public Float
Feb 27, 2026
Quali-Smart Holdings Limited, listed in Hong Kong under stock code 1348 and incorporated in the Cayman Islands, operates within the manufacturing sector and maintains a diversified shareholder base that includes Yael Capital Management Limited as ...
Quali-Smart Moves to Restore Public Float After Takeover Tightens Free Float
Feb 24, 2026
Quali-Smart Holdings has disclosed that its public float currently stands at approximately 24.87%, below the 25% minimum required under Hong Kong Listing Rules, after Yael Capital Management Limited, Chairman Liu Chong and their concert parties ac...
Quali-Smart revamps governance roles and relocates Hong Kong office
Feb 10, 2026
Quali-Smart Holdings Limited has appointed solicitor Michael Ngai as joint company secretary, while retaining incumbent Irene Tang in the role, and has named Ngai as its authorised representative under Hong Kong listing rules and the Companies Ord...
Quali-Smart Announces Major Board Shake-Up After Takeover Offer
Jan 30, 2026
Quali-Smart Holdings Limited has announced a sweeping overhaul of its board and governance structure, with multiple resignations among executive and independent non-executive directors, including the chairman and various committee heads. The compa...
Quali-Smart Reshapes Board and Committees to Strengthen Governance
Jan 30, 2026
Quali-Smart Holdings Limited, listed on the Hong Kong Stock Exchange (stock code: 1348), has announced an updated composition of its board of directors and board committees effective 30 January 2026. The company has confirmed a streamlined two-mem...
Yael Capital Lifts Stake in Quali-Smart to 75.13% as Mandatory Offers Close
Jan 29, 2026
Yael Capital Management Limited has closed its mandatory unconditional cash offers for all issued shares and outstanding options of Quali-Smart Holdings Limited that it did not already own or had agreed to acquire, with the offers expiring at 4:00...
Yael Capital Launches Mandatory Unconditional Cash Offers for Quali-Smart Holdings
Jan 7, 2026
Yael Capital Management Limited and Quali-Smart Holdings Limited have jointly announced the despatch of a composite document detailing mandatory unconditional cash offers for all issued shares of Quali-Smart and for the cancellation of all outstan...
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.