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Anchorstone Holdings Limited (HK:1592)
:1592
Hong Kong Market

Anchorstone Holdings Limited (1592) AI Stock Analysis

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HK:1592

Anchorstone Holdings Limited

(1592)

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Underperform 38 (OpenAI - 5.2)
Rating:38Underperform
Price Target:
HK$0.14
▼(-2.14% Downside)
The overall stock score of 38 reflects significant financial challenges, including negative equity and ongoing losses. Technical indicators suggest bearish momentum, and valuation metrics indicate poor profitability with no dividend yield. These factors collectively contribute to a low score, highlighting the need for strategic improvements.
Positive Factors
Diversified business model
Anchorstone's exposure across residential, commercial, hospitality and infrastructure creates multiple durable revenue channels (sales, leasing, hospitality income). This diversification reduces reliance on a single market cycle, enabling cross-segment cash generation and asset reallocation over the next several months.
Stable gross profit margins
Stable gross margins suggest the company retains pricing power or consistent construction/project cost control despite sales volatility. Over a multi-month horizon this margin resilience supports recovery efforts, preserves project-level economics, and limits the pace at which revenue declines translate into deeper operating losses.
Positive recent free cash flow
Positive free cash flow in recent periods indicates the firm can generate cash after capex, supporting debt servicing, project funding or restructuring without immediate external equity. This cash generation durability improves short- to medium-term flexibility amid operational headwinds.
Negative Factors
Negative shareholders' equity
Negative equity signals liabilities exceed assets, creating structural solvency risk. Over a 2-6 month horizon this undermines access to conventional financing, increases creditor and counterparty scrutiny, and may force asset sales or recapitalization, constraining strategic options and growth.
Persistent operational losses
Sustained negative EBIT and net margins erode retained capital and restrict reinvestment into development pipelines. Without a credible path to consistent profitability, the company faces increased need for external funding and may be unable to execute projects or capture market opportunities over the medium term.
Weak and declining operating cash flow
Variable and declining operating cash flow reduces the firm's ability to fund working capital and meet debt obligations from operations. Over several months this increases reliance on external financing, heightens refinancing and liquidity risk, and can delay or disrupt project delivery and revenue recognition.

Anchorstone Holdings Limited (1592) vs. iShares MSCI Hong Kong ETF (EWH)

Anchorstone Holdings Limited Business Overview & Revenue Model

Company DescriptionAnchorstone Holdings Limited, an investment holding company, engages in the supply and installation of marble and granite products for construction projects in Hong Kong and Macau. The company undertakes marble and granite works for a range of building and property types, including commercial buildings, residential buildings, hotels, and public infrastructures. It also sells stones, such as marble and granite on project and wholesale basis. Anchorstone Holdings Limited was founded in 1991 and is based in Sha Tin, Hong Kong. Anchorstone Holdings Limited is a subsidiary of PMG Investments Limited.
How the Company Makes MoneyAnchorstone Holdings generates revenue primarily through the sale and leasing of its real estate properties, which includes both residential and commercial units. The company profits from property development by purchasing land, constructing buildings, and subsequently selling or renting these properties at a premium. Key revenue streams include rental income from long-term leases, income from property sales, and development fees. Additionally, partnerships with local contractors and development firms enhance project efficiency and profitability. The company also benefits from favorable market conditions and strategic acquisitions, which contribute to its overall financial performance.

Anchorstone Holdings Limited Financial Statement Overview

Summary
Anchorstone Holdings Limited faces significant financial challenges. The income statement reveals ongoing revenue decline and operational inefficiencies. The balance sheet reflects high leverage and negative equity, raising concerns about long-term solvency. Cash flow is inconsistent, with difficulty translating income into sustainable cash flow. Immediate strategic adjustments are needed to stabilize the financial health of the company.
Income Statement
The company has experienced significant revenue declines, with a sharp drop from 2020 to 2024. Gross profit margins have remained relatively stable, but EBIT and net profit margins are negative, indicating operational and net losses over multiple years. Both EBIT and EBITDA margins reflect ongoing losses, raising concerns about operational efficiency.
Balance Sheet
The balance sheet shows a troubling picture with negative stockholders' equity in 2024, indicating more liabilities than assets. The debt-to-equity ratio is not meaningful due to negative equity, and the company's leverage is high. The declining equity ratio suggests diminished financial stability and increased financial risk.
Cash Flow
The cash flow statement shows variability in operating cash flow, with a decline in 2024. Despite free cash flow being positive in recent years, the operating cash flow to net income ratio is weak due to ongoing net losses. The company struggles to generate sustainable cash flow relative to its income.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue68.75M58.51M77.20M130.39M91.94M170.35M
Gross Profit14.89M15.38M23.95M31.35M11.17M19.10M
EBITDA-80.29M-79.42M-31.91M-21.94M-31.05M-22.75M
Net Income-86.57M-86.37M-40.45M-32.34M-46.75M-34.10M
Balance Sheet
Total Assets103.88M104.59M190.27M231.82M274.64M333.50M
Cash, Cash Equivalents and Short-Term Investments628.00K308.00K507.00K1.32M2.68M218.00K
Total Debt45.57M47.66M60.08M99.67M125.11M164.18M
Total Liabilities166.61M158.69M155.03M178.20M191.61M209.51M
Stockholders Equity-62.73M-54.10M35.24M53.62M83.02M123.99M
Cash Flow
Free Cash Flow-3.40M3.71M13.65M9.63M-2.00M-18.36M
Operating Cash Flow-3.40M3.71M13.65M9.66M1.96M-18.31M
Investing Cash Flow1.00K1.00K2.00K-24.00K30.28M4.80M
Financing Cash Flow2.33M-4.17M-13.46M-9.41M-27.78M751.00K

Anchorstone Holdings Limited Technical Analysis

Technical Analysis Sentiment
Negative
Last Price0.14
Price Trends
50DMA
0.23
Negative
100DMA
0.26
Negative
200DMA
0.29
Negative
Market Momentum
MACD
-0.03
Negative
RSI
32.92
Neutral
STOCH
37.63
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1592, the sentiment is Negative. The current price of 0.14 is below the 20-day moving average (MA) of 0.16, below the 50-day MA of 0.23, and below the 200-day MA of 0.29, indicating a bearish trend. The MACD of -0.03 indicates Negative momentum. The RSI at 32.92 is Neutral, neither overbought nor oversold. The STOCH value of 37.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1592.

Anchorstone Holdings Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
72
Outperform
HK$127.00M5.9610.51%14.65%
63
Neutral
$10.79B15.437.44%2.01%2.89%-14.66%
62
Neutral
HK$130.45M1.9211.61%5.34%43.91%
53
Neutral
HK$192.82M59.380.62%2.34%-48.30%-75.98%
49
Neutral
HK$690.51M-138.30-3.68%-0.28%-469.70%
45
Neutral
HK$228.96M-0.50-46.79%0.26%69.65%
38
Underperform
HK$42.28M-0.381.43%-83.97%
* Industrials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
HK:1592
Anchorstone Holdings Limited
0.15
-0.12
-45.56%
HK:9938
Wah Wo Holdings Group Limited
0.13
0.06
76.39%
HK:1653
MOS House Group Limited
2.60
2.22
584.21%
HK:1897
Million Hope Industries Holdings Ltd.
0.48
0.03
7.95%
HK:3313
ArtGo Holdings Ltd.
0.15
-0.07
-32.73%
HK:8646
China Hongguang Holdings Limited
0.18
-0.13
-40.65%

Anchorstone Holdings Limited Corporate Events

Anchorstone Subsidiary Faces Winding-Up Petition Over HK$9 Million Judgment Debt
Jan 7, 2026

Anchorstone Holdings Limited has disclosed that a winding-up petition has been filed by Hang Chin Marble Engineering Limited against its indirectly wholly owned subsidiary, Pacific Marble and Granite Limited, alleging insolvency over an unpaid judgment debt of about HK$9 million arising from prior construction and arbitration proceedings. The petition is scheduled to be heard on 11 February 2026, and while the company is currently seeking legal advice, its board maintains that the disputed amount is not expected to have a material adverse impact on the group’s overall operations or financial position, though shareholders and potential investors are urged to exercise caution pending further updates.

The most recent analyst rating on (HK:1592) stock is a Sell with a HK$0.19 price target. To see the full list of analyst forecasts on Anchorstone Holdings Limited stock, see the HK:1592 Stock Forecast page.

Anchorstone Replaces Resigning Auditor with Guangshen Hong Kong CPA
Dec 29, 2025

Anchorstone Holdings Limited has announced a change of auditors, following the resignation of Rongcheng (Hong Kong) CPA Limited, which cited considerations such as professional risks, internal resources and audit fees in deciding not to continue its engagement. The board, upon the recommendation of the audit committee, has appointed Guangshen (Hong Kong) CPA Limited as the new auditor with effect from 29 December 2025, filling the casual vacancy until the next annual general meeting; the company emphasized that there are no other matters related to the change requiring shareholders’ attention, signaling an orderly transition in its audit oversight rather than a dispute-driven departure.

The most recent analyst rating on (HK:1592) stock is a Sell with a HK$0.19 price target. To see the full list of analyst forecasts on Anchorstone Holdings Limited stock, see the HK:1592 Stock Forecast page.

Anchorstone Holdings Clarifies Director Appointment Details
Dec 11, 2025

Anchorstone Holdings Limited has announced a clarification regarding the appointment of Prof. Jiang Zhihong as an Independent Non-Executive Director and a member of the audit committee. The company corrected a clerical error in the previous announcement, specifying that Prof. Jiang has been serving as an independent non-executive director of Shanghai Haohai Biological Technology Co., Ltd since May 2020. This appointment is expected to enhance the company’s governance and oversight capabilities.

The most recent analyst rating on (HK:1592) stock is a Hold with a HK$0.25 price target. To see the full list of analyst forecasts on Anchorstone Holdings Limited stock, see the HK:1592 Stock Forecast page.

Anchorstone Holdings Limited Announces Board Composition and Roles
Dec 11, 2025

Anchorstone Holdings Limited has announced the composition of its board of directors and their respective roles. The board consists of executive directors and independent non-executive directors, with specific members chairing the Audit, Remuneration, and Nomination Committees. This announcement provides clarity on the governance structure of the company, potentially impacting its strategic decision-making and stakeholder confidence.

The most recent analyst rating on (HK:1592) stock is a Hold with a HK$0.25 price target. To see the full list of analyst forecasts on Anchorstone Holdings Limited stock, see the HK:1592 Stock Forecast page.

Anchorstone Holdings Limited Announces Board Composition and Roles
Dec 10, 2025

Anchorstone Holdings Limited has announced the composition of its board of directors and the roles of each member. The board consists of executive directors, including Chairman Lui Yue Yun Gary, and independent non-executive directors. The company has also detailed the members of its three board committees: Audit, Remuneration, and Nomination. This announcement provides clarity on the governance structure of the company, potentially impacting its strategic decision-making and offering insights into its corporate governance practices.

The most recent analyst rating on (HK:1592) stock is a Hold with a HK$0.33 price target. To see the full list of analyst forecasts on Anchorstone Holdings Limited stock, see the HK:1592 Stock Forecast page.

Anchorstone Holdings Appoints New Independent Non-Executive Director
Dec 10, 2025

Anchorstone Holdings Limited has announced the appointment of Prof. Jiang Zhihong as an independent non-executive director, effective from December 10, 2025. Prof. Jiang brings over 30 years of experience in natural product chemistry and Chinese medicine quality research, which could enhance the company’s strategic direction and industry positioning. His extensive academic and professional background, including his roles at Macau University of Science and Technology, is expected to provide valuable insights and leadership to the board.

The most recent analyst rating on (HK:1592) stock is a Hold with a HK$0.33 price target. To see the full list of analyst forecasts on Anchorstone Holdings Limited stock, see the HK:1592 Stock Forecast page.

Anchorstone Holdings Completes Share Placement to Bolster Financial Position
Nov 28, 2025

Anchorstone Holdings Limited has successfully completed the placement of 48,259,000 new shares, representing approximately 16.67% of its enlarged share capital, at a price of HK$0.25 per share. The placement raised gross proceeds of approximately HK$12.06 million, with net proceeds estimated at HK$11.78 million. The funds will be allocated towards repaying bank loans, settling other debts, and general working capital. This strategic move is expected to strengthen the company’s financial position and support its operational needs.

The most recent analyst rating on (HK:1592) stock is a Hold with a HK$0.33 price target. To see the full list of analyst forecasts on Anchorstone Holdings Limited stock, see the HK:1592 Stock Forecast page.

Anchorstone Holdings Extends Share Placement Deadline
Nov 17, 2025

Anchorstone Holdings Limited, along with its subsidiaries, has entered into a third supplemental placing agreement to extend the date for the completion of the placing of new shares under a general mandate. The new extended date is set for 5 December 2025, allowing more time for the fulfillment of conditions under the placing agreement. This extension indicates the company’s efforts to ensure the successful completion of the share placement, which may impact its financial strategy and market positioning.

The most recent analyst rating on (HK:1592) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Anchorstone Holdings Limited stock, see the HK:1592 Stock Forecast page.

Anchorstone Holdings Extends Share Placement Deadline
Oct 28, 2025

Anchorstone Holdings Limited has entered into a second supplemental placing agreement to extend the deadline for the completion of a share placement under a general mandate. The new extended long stop date is now set for 17 November 2025, allowing more time for the fulfillment of conditions necessary for the placement’s completion. This extension indicates the company’s ongoing efforts to manage its capital structure and may impact shareholder and investor decisions regarding the company’s securities.

Anchorstone Holdings Approves Share Consolidation
Oct 22, 2025

Anchorstone Holdings Limited has announced the results of its Extraordinary General Meeting (EGM) held on 22 October 2025, where a resolution for share consolidation was approved by an overwhelming majority of shareholders. The share consolidation will become effective on 24 October 2025, and trading of the consolidated shares will begin on the same day. This move is expected to streamline the company’s share structure and potentially enhance the marketability and trading liquidity of its shares.

Anchorstone Holdings Faces Governance Challenge Following Director Resignation
Oct 22, 2025

Anchorstone Holdings Limited announced the resignation of Ms. Ching Wan Wah Kitty as an independent non-executive director, effective October 22, 2025, due to her pursuit of other business and personal commitments. This resignation leaves the company with only two independent non-executive directors, falling below the minimum required by the Hong Kong Stock Exchange’s listing rules, which may impact the company’s compliance and governance structure.

Anchorstone Holdings Announces Board and Committee Structure
Oct 22, 2025

Anchorstone Holdings Limited has announced the composition of its board of directors, which includes both executive and independent non-executive directors. The company has also outlined the structure of its three board committees: the Audit Committee, Remuneration Committee, and Nomination Committee, detailing the roles of each board member within these committees.

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.Date of analysis: Dec 13, 2025