Anchorstone Holdings Limited (1592) AI Stock Analysis

• Market Cap: HK$46.33M
• Dividend Yield: N/A
• Average Volume (3M): 6.70M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.26
• Revenue Growth: 1.43%
• EPS Growth: -83.97%
• Country: HK
• Employees: 11
• Sector: Industrials
• Sector Strength: 72
• Industry: Construction
• EPS (TTM): -0.04
• Shares Outstanding: 289,555,270
• 10 Day Avg. Volume: 6,757,500
• 30 Day Avg. Volume: 6,703,533
• PEG Ratio: >-0.01
• Price to Book (P/B): -1.02
• Price to Sales (P/S): 0.94
• P/FCF Ratio: 14.90
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 38 Underperform
• Price Target: HK$0.19 ▲(9.41% Upside)

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

A diversified business model across multiple sectors helps mitigate risks associated with market fluctuations in any single industry, providing a stable revenue base.

Strategic Partnerships

Strategic partnerships can lead to cost efficiencies and improved project execution, enhancing profitability and competitive positioning in the market.

Stable Gross Profit Margins

Stable gross profit margins indicate effective cost management and pricing strategies, which are crucial for maintaining profitability despite revenue declines.

Negative Factors

High Leverage and Negative Equity

High leverage and negative equity pose significant financial risks, limiting the company's ability to invest in growth opportunities and increasing vulnerability to economic downturns.

Revenue Decline

Continued revenue decline indicates challenges in maintaining market share and competitiveness, potentially impacting long-term financial health and growth prospects.

Inconsistent Cash Flow

Inconsistent cash flow affects the company's ability to fund operations and invest in future growth, posing a risk to financial stability and operational continuity.

Anchorstone Holdings Limited Business Overview & Revenue Model

Company Description

Anchorstone 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 Money

Anchorstone 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.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	68.75M	58.51M	77.20M	130.39M	91.94M	170.35M
Gross Profit	14.89M	15.38M	23.95M	31.35M	11.17M	19.10M
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 Assets	103.88M	104.59M	190.27M	231.82M	274.64M	333.50M
Cash, Cash Equivalents and Short-Term Investments	628.00K	308.00K	507.00K	1.32M	2.68M	218.00K
Total Debt	45.57M	47.66M	60.08M	99.67M	125.11M	164.18M
Total Liabilities	166.61M	158.69M	155.03M	178.20M	191.61M	209.51M
Stockholders Equity	-62.73M	-54.10M	35.24M	53.62M	83.02M	123.99M
Cash Flow
Free Cash Flow	-3.40M	3.71M	13.65M	9.63M	-2.00M	-18.36M
Operating Cash Flow	-3.40M	3.71M	13.65M	9.66M	1.96M	-18.31M
Investing Cash Flow	1.00K	1.00K	2.00K	-24.00K	30.28M	4.80M
Financing Cash Flow	2.33M	-4.17M	-13.46M	-9.41M	-27.78M	751.00K

Anchorstone Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.17
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

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 0.17 is below the 20-day moving average (MA) of 0.25, below the 50-day MA of 0.26, and below the 200-day MA of 0.31, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 31.36 is Neutral, neither overbought nor oversold. The STOCH value of 8.30 is Positive, 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9938	68 Neutral	HK$128.00M	6.01	10.51%	―	14.65%	―
8646	65 Neutral	HK$165.90M	2.38	11.61%	―	5.34%	43.91%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
1653	55 Neutral	HK$722.29M	-124.47	-3.68%	―	-0.28%	-469.70%
1897	53 Neutral	HK$190.79M	58.75	0.62%	2.34%	-48.30%	-75.98%
3313	45 Neutral	HK$174.21M	-0.50	-46.79%	―	0.26%	69.65%
1592	38 Underperform	HK$46.33M	-0.44	―	―	1.43%	-83.97%

Anchorstone Holdings Limited Corporate Events

Anchorstone Holdings Completes Share Placement to Bolster Financial Position

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.

Anchorstone Holdings Extends Share Placement Deadline

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.

Anchorstone Holdings Extends Share Placement Deadline

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

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

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

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.

Anchorstone Holdings Extends Share Placement Deadline and Announces Share Consolidation

Anchorstone Holdings Limited has announced a supplemental agreement to extend the deadline for the completion of its share placement from October 9, 2025, to October 29, 2025. This extension allows additional time to fulfill the conditions of the Placing Agreement. Additionally, the company is undergoing a share consolidation, which will convert every ten existing shares into one consolidated share, impacting the number and value of shares involved in the placement. Stakeholders are advised to exercise caution as the completion of the placement is not guaranteed.

Anchorstone Holdings Announces Share Consolidation Proposal

Anchorstone Holdings Limited has announced an extraordinary general meeting (EGM) to discuss a proposed share consolidation. The company plans to consolidate every ten issued and unissued ordinary shares into one consolidated share, subject to approval from the Hong Kong Stock Exchange and compliance with Cayman Islands laws. This move is aimed at streamlining the company’s share structure and potentially enhancing its market position.

Anchorstone Holdings Proposes Share Consolidation and Board Lot Change

Anchorstone Holdings Limited, a company incorporated in the Cayman Islands, has announced a proposed share consolidation and change in board lot size. The company plans to consolidate every ten existing shares into one consolidated share, reducing the number of shares from approximately 2.41 billion to 241 million. This move, which is subject to shareholder approval and other conditions, aims to streamline the company’s share structure without affecting its financial position or shareholder rights.

Anchorstone Holdings Announces New Share Placement and Consolidation

Anchorstone Holdings Limited has announced a strategic financial maneuver involving the placement of new shares under a general mandate and a proposed share consolidation. The company plans to place up to 482,590,000 new shares at HK$0.025 each, potentially raising approximately HK$11.47 million in net proceeds. These funds are intended to repay bank loans, settle other debts, and provide general working capital. The move is expected to strengthen the company’s financial position and broaden its shareholder base, although the completion of the placement is not guaranteed.

Anchorstone Holdings Implements Financial Measures to Address 2024 Challenges

Anchorstone Holdings Limited has announced measures to address financial challenges outlined in its 2024 Annual Report. The company has made partial settlements on overdue bank loans and is in discussions to extend borrowings, with a current outstanding balance of HK$33,496,000. Efforts to accelerate receivables collection have been made, and financial support from a substantial shareholder has been secured. The company has also implemented cost-saving measures, including freezing headcount, to improve financial stability.