Kin Shing Holdings Ltd. (1630) AI Stock Analysis

• Market Cap: HK$130.50M
• Dividend Yield: N/A
• Average Volume (3M): 710.20K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.75
• Revenue Growth: -28.21%
• EPS Growth: 34.59%
• Country: HK
• Employees: 1,578
• Sector: Industrials
• Sector Strength: 72
• Industry: Engineering & Construction
• EPS (TTM): 0.00
• Shares Outstanding: 1,500,000,000
• 10 Day Avg. Volume: 38,400
• 30 Day Avg. Volume: 710,200
• PEG Ratio: 0.09
• Price to Book (P/B): 0.58
• Price to Sales (P/S): 0.08
• P/FCF Ratio: -0.86
• 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: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 53 Neutral
• Price Target: HK$0.09 ▲(132.50% Upside)

The score is primarily held back by weak financial performance (revenue contraction, losses, and negative operating cash flow). Technicals are a meaningful offset due to strong price strength above major moving averages and positive MACD, though overbought RSI adds risk. Valuation remains unattractive/unclear given losses and no dividend data.

Positive Factors

Conservative leverage

Low debt levels provide durable financial flexibility, lowering refinancing and interest burdens during downturns. This conservative capital structure supports the firm's ability to fund working capital or capex, and reduces bankruptcy risk, preserving optionality over next several quarters.

Recurring contracts & rental income

Long-term contracts and equipment rental create recurring, contractually backed revenue and higher visibility into future cash flows. This durability reduces revenue volatility versus spot sales, supports customer stickiness, and underpins predictable utilization and maintenance planning over months.

Improving free cash flow metrics

A positive FCF-to-net-income ratio and rising free cash flow indicate improving cash conversion despite headline losses. This trend suggests management is generating incremental cash from operations or working-capital gains, which can sustainably fund operations or reduce reliance on external financing.

Negative Factors

Revenue decline & negative profitability

A >20% revenue drop and persistent negative EBIT/net profit margins signal structural demand or competitive issues. Loss-making operations erode scale economics, force tough pricing or cost choices, and make reinvestment or margin recovery difficult without strategic changes to products or markets.

Negative operating cash flow

Sustained negative operating cash flow constrains the firm's ability to fund working capital and capex internally. Over months this raises financing needs, increases vulnerability to credit cycles, and can force asset sales or dilutive capital raises that weaken long-term competitiveness.

Very low gross profit margin

An extremely low gross margin limits the firm's capacity to absorb fixed costs, invest in product development, or sustain SG&A. Without structural uplift in pricing, product mix, or cost base, margin compression will persist, making long-term profitability and return on equity recovery difficult.

Kin Shing Holdings Ltd. Business Overview & Revenue Model

Company Description

Kin Shing Holdings Limited, together with its subsidiaries, engages in erecting formworks for construction works in private residential and commercial buildings primarily in Hong Kong. The company primarily provides timber formworks by using timber and plywood; and metal formwork system by using aluminum and other metals. It also engages in building construction works; and securities investment business. The company was founded in 1994 and is headquartered in Cheung Sha Wan, Hong Kong. Kin Shing Holdings Limited is a subsidiary of Five Continental Enterprise Limited.

How the Company Makes Money

Kin Shing Holdings generates revenue through the sale of construction materials, primarily precast concrete products and scaffolding systems, to contractors and developers involved in both public and private sector projects. The company's revenue model is driven by direct sales to construction firms and long-term contracts for ongoing projects. Key revenue streams include bulk sales of precast components for large-scale developments and rental income from scaffolding equipment. Additionally, strategic partnerships with construction companies and involvement in government projects significantly contribute to its earnings, as these collaborations often lead to repeat business and larger contracts.

Kin Shing Holdings Ltd. Financial Statement Overview

Summary

Weak operating performance with a sharp revenue decline (down 22.42%) and negative profitability (negative net profit and EBIT margins). Low leverage supports the balance sheet, but negative ROE and negative operating cash flow keep the overall financial profile pressured.

Income Statement

Kin Shing Holdings Ltd. has experienced a significant decline in revenue, with a 22.42% drop in the latest year. The company is struggling with profitability, as indicated by negative net profit and EBIT margins. The gross profit margin is extremely low, suggesting challenges in cost management. However, the company has shown some resilience in EBITDA margin, which is slightly positive.

Balance Sheet

The balance sheet shows a relatively low debt-to-equity ratio, indicating conservative leverage. However, the return on equity is negative, reflecting ongoing losses and inefficiencies in generating returns for shareholders. The equity ratio is not explicitly calculated, but the company maintains a reasonable level of equity relative to its assets.

Cash Flow

Cash flow analysis reveals a substantial negative operating cash flow, which is concerning. However, the free cash flow to net income ratio is positive, suggesting some ability to generate cash relative to net income. The free cash flow growth rate is positive, indicating improvement, but the overall cash flow situation remains challenging.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	878.76M	878.76M	1.24B	474.77M	600.86M	523.95M
Gross Profit	311.00K	311.00K	31.62M	15.27M	8.54M	4.28M
EBITDA	3.39M	3.39M	-27.57M	30.29M	9.21M	22.05M
Net Income	-9.46M	-9.46M	-43.81M	11.89M	-12.50M	2.63M
Balance Sheet
Total Assets	417.60M	417.60M	483.88M	425.96M	379.28M	391.13M
Cash, Cash Equivalents and Short-Term Investments	111.89M	111.89M	219.90M	155.62M	72.29M	186.62M
Total Debt	10.35M	10.35M	153.34M	153.66M	151.81M	1.74M
Total Liabilities	304.76M	304.76M	361.58M	259.85M	225.05M	224.41M
Stockholders Equity	112.84M	112.84M	122.30M	166.11M	154.22M	166.72M
Cash Flow
Free Cash Flow	-76.69M	-76.69M	15.79M	48.28M	-47.65M	2.05M
Operating Cash Flow	-76.15M	-76.15M	27.98M	57.26M	-42.90M	24.44M
Investing Cash Flow	6.08M	6.08M	-5.93M	-40.88M	-4.47M	-21.57M
Financing Cash Flow	9.17M	9.17M	-3.19M	-2.35M	-2.83M	-3.77M

Kin Shing Holdings Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.04
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1630, the sentiment is Positive. The current price of 0.04 is below the 20-day moving average (MA) of 0.07, below the 50-day MA of 0.05, and below the 200-day MA of 0.05, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 59.69 is Neutral, neither overbought nor oversold. The STOCH value of 36.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1630.

Kin Shing Holdings Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
1630	53 Neutral	HK$130.50M	-7.19	-14.78%	―	-28.21%	34.59%
1546	52 Neutral	HK$195.20M	-3.63	-41.65%	―	54.20%	-833.33%
1557	49 Neutral	HK$206.40M	-9.00	―	―	-52.58%	69.44%
3789	49 Neutral	HK$117.60M	196.00	0.18%	―	-2.05%	―
1826	44 Neutral	HK$259.74M	-487.50	―	―	11.52%	98.72%
2195	43 Neutral	HK$76.96M	-2.41	-19.00%	―	48.86%	54.49%

Kin Shing Holdings Ltd. Corporate Events

Kin Shing Holdings Strengthens Board with Appointment of Veteran Executive Eric Todd

Kin Shing Holdings Limited has appointed veteran finance professional Eric Todd as an executive director and member of its investment committee, effective 6 January 2026. Todd brings more than three decades of experience in auditing, financial management, investment and the media industry, including prior roles at KPMG, Standard Chartered Bank and as a director of two other Hong Kong-listed companies. Under a three-year, automatically renewable service agreement, he will receive an annual salary of HK$240,000, subject to regular review by the board and remuneration committee. The appointment strengthens the company’s financial and investment oversight capabilities and modestly reshapes its board composition, potentially enhancing governance and strategic decision-making for shareholders and other stakeholders.

The most recent analyst rating on (HK:1630) stock is a Hold with a HK$0.04 price target. To see the full list of analyst forecasts on Kin Shing Holdings Ltd. stock, see the HK:1630 Stock Forecast page.

Kin Shing Holdings Updates Board and Committee Structure

Kin Shing Holdings Limited has announced an updated composition of its board of directors, effective 6 January 2026, listing both executive and independent non-executive directors. The company has also clarified the membership and chairmanship of its four standing board committees — Audit, Nomination, Remuneration and Investment — signaling a defined governance structure and clearer allocation of oversight responsibilities, which may enhance transparency and corporate oversight for shareholders and other stakeholders.

The most recent analyst rating on (HK:1630) stock is a Hold with a HK$0.04 price target. To see the full list of analyst forecasts on Kin Shing Holdings Ltd. stock, see the HK:1630 Stock Forecast page.

Kin Shing Holdings Reports Decline in Interim Revenue but Improved Gross Profit

Kin Shing Holdings Ltd. announced its interim results for the six months ended 30 September 2025, reporting a significant decrease in revenue from HK$432,088,000 in 2024 to HK$366,561,000 in 2025. Despite the drop in revenue, the company managed to achieve a gross profit of HK$5,478,000, up from HK$1,496,000 in the previous year, indicating improved cost management. However, the profit before tax fell sharply to HK$782,000 from HK$9,453,000, largely due to increased impairment losses. The financial position of the company remains stable with total assets slightly decreasing to HK$413,303,000 from HK$417,597,000, and net assets increasing marginally to HK$113,623,000.

The most recent analyst rating on (HK:1630) stock is a Hold with a HK$0.04 price target. To see the full list of analyst forecasts on Kin Shing Holdings Ltd. stock, see the HK:1630 Stock Forecast page.

Kin Shing Holdings Issues Profit Warning Amid Rising Impairment Losses

Kin Shing Holdings Limited has issued a profit warning, indicating a significant decline in its consolidated profit after tax for the six months ending September 2025. The anticipated profit is not expected to exceed HK$1.0 million, a stark decrease from the HK$9.5 million recorded in the same period last year. This downturn is primarily attributed to an increase in impairment losses under the expected credit loss model, which rose to approximately HK$13.2 million from HK$1.1 million in 2024. The company’s interim results are yet to be finalized and will be published on November 28, 2025.

Kin Shing Holdings Schedules Board Meeting to Review Interim Results

Kin Shing Holdings Limited has announced a board meeting scheduled for November 28, 2025, to review and approve the unaudited interim results for the six months ending September 30, 2025. The meeting will also consider the potential payment of a dividend, which could impact shareholder returns and reflect the company’s financial health.