Major Holdings Ltd. (HK:1389)
:1389
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Major Holdings Ltd.
(1389)
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Rating:43Neutral
Price Target:
HK$0.25
▼(-31.67% Downside)
Action:ReiteratedDate:03/24/26
The score is held down primarily by weak financial performance (loss-making operations, negative gross margin, and negative FY2025 free cash flow) and a technically weak longer-term price trend (below key moving averages). Low leverage helps reduce balance-sheet risk but is not enough to offset deteriorating profitability and cash flow, while valuation is constrained by losses and the absence of a dividend yield.
Positive Factors
Low leverage / conservative balance sheet
The company's extremely low debt-to-equity (~0.01) provides durable financial flexibility and materially reduces near-term refinancing risk. That conservative capital structure gives management optionality to execute restructuring or cost programs without immediate pressure from creditors.
Negative Factors
Negative gross and net margins
A gross loss implies the company’s core product economics are broken. Persistent negative gross and net margins mean the business cannot sustainably cover costs from sales, requiring structural changes to pricing, product mix, or cost base to restore profitability over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / conservative balance sheet
The company's extremely low debt-to-equity (~0.01) provides durable financial flexibility and materially reduces near-term refinancing risk. That conservative capital structure gives management optionality to execute restructuring or cost programs without immediate pressure from creditors.
Read all positive factors
Major Holdings Ltd. (1389) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$138.58M
Dividend YieldN/A
Average Volume (3M)205.62K
Price to Earnings (P/E)―
Beta (1Y)-0.08
Revenue Growth-32.89%
EPS Growth57.23%
CountryHK
Employees15
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Wineries & Distilleries
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding554,333,300
10 Day Avg. Volume98,353
30 Day Avg. Volume205,624
Financial Highlights & Ratios
PEG Ratio0.36
Price to Book (P/B)1.69
Price to Sales (P/S)3.20
P/FCF Ratio-14.27
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
Major Holdings Ltd. Business Overview & Revenue Model
Company Description
Major Holdings Limited, an investment holding company, engages in the sale and distribution of premium wine and spirits in Hong Kong. The company offers red wine, white wine, sparkling wine, sake, wine accessory products, and other products. It al...
Major Holdings Ltd. Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
72
Positive
Cash Flow
34
Negative
| Breakdown | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 58.02M | 63.04M | 74.44M | 107.79M | 114.59M |
| Gross Profit | -8.88M | 5.47M | 7.87M | 13.84M | 17.36M |
| EBITDA | -10.84M | -10.05M | -11.06M | 2.15M | 5.09M |
| Net Income | -13.36M | -15.68M | -16.59M | -8.71M | -5.04M |
Balance Sheet | |||||
| Total Assets | 117.84M | 135.95M | 132.36M | 173.35M | 174.65M |
| Cash, Cash Equivalents and Short-Term Investments | 11.52M | 26.45M | 5.93M | 7.18M | 6.90M |
| Total Debt | 1.23M | 4.79M | 12.13M | 23.65M | 19.73M |
| Total Liabilities | 8.22M | 12.98M | 22.55M | 46.94M | 39.53M |
| Stockholders Equity | 109.61M | 122.97M | 109.81M | 126.41M | 135.12M |
Cash Flow | |||||
| Free Cash Flow | -13.02M | 1.13M | 17.81M | -3.52M | 19.76M |
| Operating Cash Flow | -12.52M | 1.29M | 20.17M | -3.48M | 20.12M |
| Investing Cash Flow | -330.00K | -108.00K | 3.72M | 17.00K | 7.52M |
| Financing Cash Flow | -2.08M | 19.34M | -25.14M | 3.75M | -26.46M |
Major Holdings Ltd. Technical Analysis
Negative
0.36
Price Trends
0.26
Negative
0.36
Negative
0.40
Negative
Market Momentum
>-0.01
Positive
42.52
Neutral
30.74
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1389, the sentiment is Negative. The current price of 0.36 is above the 20-day moving average (MA) of 0.26, above the 50-day MA of 0.26, and below the 200-day MA of 0.40, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 42.52 is Neutral, neither overbought nor oversold. The STOCH value of 30.74 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1389.
Major Holdings Ltd. Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | HK$284.00M | 7.57 | 11.22% | ― | 15.66% | -1.25% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
54 Neutral | HK$309.85M | 16.35 | 4.24% | 1.30% | -4.14% | -21.15% | |
45 Neutral | HK$455.28M | -61.50 | -16.93% | ― | -18.68% | -3305.88% | |
43 Neutral | HK$138.58M | -39.56 | -7.27% | ― | -32.89% | 57.23% | |
40 Underperform | HK$91.98M | 458.76 | -65.18% | ― | ― | ― | |
40 Underperform | HK$84.75M | -1.39 | 19.01% | ― | 3.35% | 17.48% |
* Consumer Defensive Sector Average
HK:1389
Major Holdings Ltd.
0.25
-0.10
-28.57%
HK:0389
China Tontine Wines Group
0.31
-0.13
-29.07%
HK:8057
Madison Holdings Group Limited
0.14
0.05
61.90%
HK:8146
Grace Wine Holdings Limited
0.56
0.38
212.85%
HK:0828
Dynasty Fine Wines Group Limited
0.22
-0.05
-17.29%
HK:8509
Wine's Link International Holdings Limited
0.71
0.33
86.84%
Major Holdings Ltd. Corporate Events
Major Holdings Tightens Governance With Updated Nomination Committee Rules
Feb 26, 2026
Major Holdings has updated the terms of reference for its Nomination Committee, effective 26 February 2026, to formalize its composition, meeting procedures, and decision-making processes. The committee must include at least one director of a diff...
Major Holdings Switches Auditor in Cost-Focused Move Despite Reprimand of New Firm
Jan 19, 2026
Major Holdings Limited has announced a change of auditor, with Beijing Xinghua Caplegend CPA Limited resigning as auditor effective 19 January 2026 after the two parties failed to reach agreement on audit fees for the financial year ending 31 Marc...
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
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