Major Holdings Ltd. (HK:1389)
:1389
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Major Holdings Ltd.
(1389)
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Rating:43Neutral
Price Target:
HK$0.28
▼(-22.22% 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
Very low debt and a conservative balance sheet materially reduce refinancing and interest-rate risk, preserving financial optionality during a turnaround. This cushion gives management time to execute strategic fixes, supports supplier and lender confidence, and limits near-term solvency pressure.
Negative Factors
Negative gross margin
A negative gross margin means the company is selling below direct cost, indicating fundamental pricing or cost-structure issues. This undermines any operating- or scale-driven recovery because each incremental sale destroys value until product margins or input costs are structurally fixed.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / conservative balance sheet
Very low debt and a conservative balance sheet materially reduce refinancing and interest-rate risk, preserving financial optionality during a turnaround. This cushion gives management time to execute strategic fixes, supports supplier and lender confidence, and limits near-term solvency pressure.
Read all positive factors
Major Holdings Ltd. (1389) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$157.98M
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...
How the Company Makes Money
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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
Positive
0.36
Price Trends
0.26
Positive
0.36
Negative
0.40
Negative
Market Momentum
>-0.01
Negative
63.20
Neutral
51.14
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1389, the sentiment is Positive. 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 neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 63.20 is Neutral, neither overbought nor oversold. The STOCH value of 51.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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$284.50M | 26.24 | 4.24% | 1.30% | -4.14% | -21.15% | |
45 Neutral | HK$463.41M | -61.50 | -16.93% | ― | -18.68% | -3305.88% | |
43 Neutral | HK$157.98M | -39.56 | -7.27% | ― | -32.89% | 57.23% | |
40 Underperform | HK$84.44M | 458.76 | -65.18% | ― | ― | ― | |
40 Underperform | HK$80.38M | -1.39 | 19.01% | ― | 3.35% | 17.48% |
* Consumer Defensive Sector Average
HK:1389
Major Holdings Ltd.
0.29
-0.10
-25.64%
HK:0389
China Tontine Wines Group
0.29
-0.14
-32.56%
HK:8057
Madison Holdings Group Limited
0.11
0.03
31.33%
HK:8146
Grace Wine Holdings Limited
0.55
0.34
160.66%
HK:0828
Dynasty Fine Wines Group Limited
0.22
-0.06
-21.01%
HK:8509
Wine's Link International Holdings Limited
0.72
0.32
80.00%
Major Holdings Ltd. Corporate Events
Major Holdings Names Lead Independent Director to Strengthen Governance
Mar 30, 2026
Major Holdings Limited has designated existing independent non-executive director Siu Shing Tak as its lead independent non-executive director, effective 26 February 2026. Siu currently chairs the audit committee and serves on both the nomination ...
Major Holdings Clarifies Share Option Capacity After Share Consolidation
Mar 25, 2026
Major Holdings Limited has issued a supplemental announcement to clarify details of its share option scheme for the year ended 31 March 2025. The company is addressing disclosure requirements under Hong Kong listing rules by specifying the scheme ...
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
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.