Plover Bay Technologies Ltd. (HK:1523)
:1523
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Plover Bay Technologies Ltd.
(1523)
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Rating:77Outperform
Price Target:
HK$8.50
▲(38.21% Upside)
Action:ReiteratedDate:03/24/26
The score is driven primarily by strong financial performance (high profitability, low leverage, and robust cash generation). Technical signals are mixed, tempering near-term conviction, while valuation is supportive with a moderate P/E and an attractive dividend yield.
Positive Factors
High gross margins
Sustained ~54%+ gross margins indicate durable pricing power and an efficient cost base for its SD‑WAN hardware and software. High gross margins support strong operating profits, fund R&D and product development, and provide a structural buffer in downcycles for multi‑year competitiveness.
Negative Factors
Uneven revenue growth
Irregular top‑line expansion, including near‑flat 2024, creates uncertainty in long‑term demand trajectory and planning. This volatility can complicate capacity, R&D timing, and forecasting, making multi‑period revenue sustainability and forecasting less predictable for investors and management.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins
Sustained ~54%+ gross margins indicate durable pricing power and an efficient cost base for its SD‑WAN hardware and software. High gross margins support strong operating profits, fund R&D and product development, and provide a structural buffer in downcycles for multi‑year competitiveness.
Read all positive factors
Plover Bay Technologies Ltd. (1523) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$8.57B
Dividend Yield5.41%
Average Volume (3M)553.15K
Price to Earnings (P/E)18.6
Beta (1Y)0.43
Revenue Growth11.34%
EPS Growth19.06%
CountryHK
Employees180
SectorTechnology
Sector Strength88
IndustryCommunication Equipment
Share Statistics
EPS (TTM)0.17
Shares Outstanding1,105,774,000
10 Day Avg. Volume686,230
30 Day Avg. Volume553,148
Financial Highlights & Ratios
PEG Ratio0.97
Price to Book (P/B)14.37
Price to Sales (P/S)6.50
P/FCF Ratio15.94
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$9.77Price Target Upside58.86% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.38
Revenue Forecast (FY)HK$1.19B
Plover Bay Technologies Ltd. Business Overview & Revenue Model
Company Description
Plover Bay Technologies Limited, an investment holding company, designs, develops, markets, and sells software defined wide area network routers worldwide. It also provides software licences, and warranty and support services. The company markets ...
Plover Bay Technologies Ltd. Financial Statement Overview
Summary
Income Statement
88
Very Positive
Balance Sheet
86
Very Positive
Cash Flow
84
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 130.34M | 116.79M | 94.26M | 86.76M | 74.13M |
| Gross Profit | 71.41M | 64.15M | 50.91M | 46.51M | 43.16M |
| EBITDA | 55.15M | 48.86M | 33.44M | 29.43M | 27.21M |
| Net Income | 45.53M | 38.05M | 28.10M | 22.66M | 21.20M |
Balance Sheet | |||||
| Total Assets | 118.24M | 110.11M | 85.28M | 83.29M | 71.74M |
| Cash, Cash Equivalents and Short-Term Investments | 67.38M | 65.93M | 36.74M | 28.66M | 33.17M |
| Total Debt | 3.18M | 11.10M | 4.47M | 8.72M | 7.02M |
| Total Liabilities | 59.31M | 53.81M | 35.05M | 40.00M | 31.66M |
| Stockholders Equity | 58.93M | 56.30M | 50.22M | 43.29M | 40.08M |
Cash Flow | |||||
| Free Cash Flow | 53.12M | 54.09M | 35.84M | 16.81M | 18.35M |
| Operating Cash Flow | 53.88M | 55.16M | 37.72M | 17.57M | 18.92M |
| Investing Cash Flow | -1.27M | 754.00K | -956.00K | -1.05M | -1.39M |
| Financing Cash Flow | -53.72M | -26.65M | -28.83M | -19.38M | -16.91M |
Plover Bay Technologies Ltd. Technical Analysis
Negative
6.15
Price Trends
7.84
Negative
6.96
Positive
6.63
Positive
Market Momentum
-0.08
Negative
44.68
Neutral
56.84
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1523, the sentiment is Negative. The current price of 6.15 is below the 20-day moving average (MA) of 7.56, below the 50-day MA of 7.84, and below the 200-day MA of 6.63, indicating a neutral trend. The MACD of -0.08 indicates Negative momentum. The RSI at 44.68 is Neutral, neither overbought nor oversold. The STOCH value of 56.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1523.
Plover Bay Technologies Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | HK$8.57B | 18.60 | 82.39% | 5.41% | 11.34% | 19.06% | |
72 Outperform | HK$275.29B | 44.55 | 6.66% | 0.54% | 17.02% | 20.31% | |
69 Neutral | HK$15.54B | 6.79 | 22.90% | 7.66% | -1.00% | -10.43% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | HK$46.21B | 6.27 | 8.59% | 0.63% | 16.62% | 42.86% | |
54 Neutral | HK$5.11B | -70.76 | -11.77% | 0.24% | 0.94% | ― | |
54 Neutral | HK$624.71M | -58.01 | -0.25% | ― | -7.14% | 85.97% |
* Technology Sector Average
HK:1523
Plover Bay Technologies Ltd.
7.87
2.77
54.22%
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Plover Bay Technologies Ltd. Corporate Events
Plover Bay Sets 2026 AGM to Approve Accounts, Board Mandates and Share Issuance Authority
Mar 18, 2026
Plover Bay Technologies Ltd. has convened its annual general meeting for 28 April 2026 in Kowloon, where shareholders will review and approve the audited consolidated financial statements and related reports for the year ended 31 December 2025. Th...
Plover Bay Technologies Declares Second Interim Dividend for 2025
Feb 26, 2026
Plover Bay Technologies Ltd. has declared a second interim ordinary cash dividend of HKD 0.1654 per share for the financial year ending 31 December 2025. The dividend will be paid in Hong Kong dollars, with no special withholding tax arrangements ...
Plover Bay Technologies Declares Special Dividend for 2025
Feb 26, 2026
Plover Bay Technologies Limited has declared a special cash dividend of HKD 0.0565 per share for the financial year ended 31 December 2025, payable in Hong Kong dollars. The ex-dividend date is set for 11 March 2026, with the record date on 13 Mar...
Plover Bay Technologies Posts Double-Digit Profit Growth and Boosts Dividends for 2025
Feb 26, 2026
Plover Bay Technologies reported a solid set of results for the year ended 31 December 2025, with revenue rising 11.4% to about US$130.1 million and profit attributable to shareholders up 19.5% to roughly US$45.5 million, reflecting improved margi...
Plover Bay Plans Nasdaq Spin-Off of Connectivity Subsidiary SpinCo
Feb 25, 2026
Plover Bay Technologies plans to spin off its wholly owned connectivity subsidiary SpinCo through a distribution in specie to existing shareholders, followed by a separate listing of SpinCo’s ordinary shares on Nasdaq. The company has secure...
Plover Bay Sets February Board Meeting to Approve 2025 Results
Feb 11, 2026
Plover Bay Technologies has scheduled a board meeting for 26 February 2026 to approve its audited annual financial results for the year ended 31 December 2025 and to consider a possible dividend. The timing of the meeting signals the company is mo...
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.