Minshang Creative Technology Holdings Limited (1632) AI Stock Analysis

• Market Cap: HK$91.51M
• Dividend Yield: N/A
• Average Volume (3M): 104.77K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.03
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: HK
• Employees: 28
• Sector: Technology
• Sector Strength: 88
• Industry: Technology Distributors
• EPS (TTM): -0.01
• Shares Outstanding: 953,274,900
• 10 Day Avg. Volume: 147,200
• 30 Day Avg. Volume: 104,766
• PEG Ratio: -0.04
• Price to Book (P/B): 1.39
• Price to Sales (P/S): 756.53
• P/FCF Ratio: -6.14
• 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: 43 Neutral
• Price Target: HK$0.09 ▼(-15.45% Downside)

The score is primarily weighed down by very weak financial performance (deeply negative margins, negative ROE, and poor operating/free cash flow). Technical indicators are largely neutral but not supportive of a strong uptrend, and valuation is not compelling given the loss-making profile and lack of dividend data.

Positive Factors

Very low leverage

Extremely low debt gives the company financial flexibility and a low interest burden, allowing management time to restructure operations or pursue strategic investments without heavy interest costs. This reduces short-to-medium-term solvency risk and preserves optionality for financing choices.

Diverse revenue model with recurring potential

A mix of project work, retainer agreements and subscription maintenance creates potential for recurring revenue and client stickiness. Strategic partnerships expand distribution and service scope, supporting more predictable mid-term cash generation and upsell opportunities if execution stabilizes.

Lean operating structure

A small headcount implies lower fixed overheads and greater operational agility, enabling faster product iterations and client customization. If management leverages partnerships and platform scalability, the lean structure can translate into durable cost control and efficient scaling over the next several quarters.

Negative Factors

Deeply negative profitability

Severely negative gross and net margins indicate the core service economics are loss-making and unsustainable. Without structural changes to pricing, cost base, or product mix, the company cannot generate operating profits, undermining medium-term viability and limiting reinvestment capacity.

Severe cash flow deterioration

Massive FCF decline and negative operating cash flows point to persistent cash burn that will force external financing, asset sales, or dilution unless reversed. This materially constrains strategic options, capital expenditures and ability to fund growth or stabilize operations in the medium term.

Revenue volatility and operational instability

Extreme swings in revenue suggest unstable demand or single-event contracts rather than steady pipeline, complicating forecasting and margin recovery. Such volatility, coupled with poor operational efficiency, impedes strategic planning and sustainable customer base development over the next several quarters.

Minshang Creative Technology Holdings Limited Business Overview & Revenue Model

Company Description

Minshang Creative Technology Holdings Limited, an investment holding company, operates a chain of restaurants. It operates through Vietnamese-Style Restaurant Business, Trading Business, and Other Business segments. The company also trades in 3C electronic products, frozen foods, and grain & oil products; and provides software customization services and technology solutions in the People's Republic of China. In addition, the company is involved in the provision of catering management and other management services, as well as owns trademarks. As of March 31, 2022, it operated 9 Vietnamese-style casual dining restaurants in Hong Kong. The company was formerly known as Food Wise Holdings Limited and changed its name to Minshang Creative Technology Holdings Limited in October 2018. The company was founded in 2003 and is headquartered in Admiralty, Hong Kong. Minshang Creative Technology Holdings Limited is a subsidiary of MSEC Holdings Limited.

How the Company Makes Money

Minshang Creative Technology Holdings Limited generates revenue through multiple streams, primarily by providing customized technology solutions and digital services to a diverse client base. The company earns money from project-based contracts, where it charges clients for the development of bespoke software and applications tailored to their specific needs. Additionally, revenue is generated through retainer agreements for ongoing digital marketing and support services. Key partnerships with other technology providers and platforms enhance its service offerings, allowing Minshang to tap into additional markets and client segments. Furthermore, the company may benefit from recurring revenue through subscription models for ongoing service maintenance or updates, contributing to its overall financial performance.

Minshang Creative Technology Holdings Limited Financial Statement Overview

Summary

Very weak fundamentals: sharply negative profitability (net margin -297.14%, gross margin -70.78%), negative operating and free cash flow with extreme deterioration (FCF growth -774.84%), and negative ROE (-54.65%). Low leverage (debt-to-equity 0.0042) is a positive but does not offset losses and cash burn.

Income Statement

The income statement reveals significant challenges, with negative margins across all key metrics. The company has experienced a dramatic decline in revenue and profitability, with a net profit margin of -297.14% and a gross profit margin of -70.78% in the latest period. Revenue growth is highly volatile, with a recent spike of 2287.5% following a previous decline. These figures indicate instability and poor operational efficiency.

Balance Sheet

The balance sheet shows a relatively low debt-to-equity ratio of 0.0042, suggesting minimal leverage. However, the return on equity is negative at -54.65%, indicating that the company is not generating sufficient returns on its equity. The equity ratio is not provided, but the overall financial health appears weak due to poor profitability.

Cash Flow

Cash flow analysis highlights severe issues, with negative operating and free cash flows. The free cash flow growth rate is -774.84%, and the operating cash flow to net income ratio is -0.13, indicating cash flow challenges. Despite a high free cash flow to net income ratio of 4.62, the overall cash flow situation is concerning.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	191.00K	191.00K	7.95M	106.59M	910.33M	1.59B
Gross Profit	-14.26M	-13.52M	-4.17M	22.05M	28.76M	53.97M
EBITDA	-45.70M	-60.79M	-36.09M	-9.38M	483.00K	38.99M
Net Income	-56.75M	-56.75M	-35.79M	-1.36M	-6.03M	25.55M
Balance Sheet
Total Assets	142.56M	142.56M	163.10M	224.28M	198.64M	559.76M
Cash, Cash Equivalents and Short-Term Investments	22.36M	22.36M	10.49M	9.74M	23.79M	57.45M
Total Debt	438.00K	438.00K	1.05M	8.60M	14.47M	34.18M
Total Liabilities	42.68M	42.68M	31.00M	53.09M	40.23M	396.36M
Stockholders Equity	103.84M	103.84M	132.21M	171.31M	158.51M	163.47M
Cash Flow
Free Cash Flow	-18.52M	-23.55M	-14.15M	4.45M	6.65M	52.47M
Operating Cash Flow	-5.09M	-5.09M	-14.14M	5.30M	6.65M	52.50M
Investing Cash Flow	-11.61M	-11.61M	16.81M	-5.88M	15.00M	-6.03M
Financing Cash Flow	28.37M	28.37M	-874.00K	-13.46M	-30.51M	-41.89M

Minshang Creative Technology Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.11
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1632, the sentiment is Positive. The current price of 0.11 is above the 20-day moving average (MA) of 0.10, above the 50-day MA of 0.09, and below the 200-day MA of 0.14, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 53.71 is Neutral, neither overbought nor oversold. The STOCH value of 37.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1632.

Minshang Creative Technology Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
0529	73 Outperform	HK$586.51M	3.02	5.52%	0.98%	9.73%	90.98%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
0595	58 Neutral	HK$358.92M	5.99	3.38%	4.94%	17.39%	-55.26%
1362	56 Neutral	HK$151.20M	63.53	1.44%	3.06%	4.82%	-71.76%
6036	53 Neutral	HK$478.42M	32.01	5.11%	―	14.50%	247.50%
1213	50 Neutral	HK$102.00M	-10.45	-8.13%	0.94%	-8.83%	-28.76%
1632	43 Neutral	HK$91.51M	-1.58	-51.57%	―	―	―

Minshang Creative Technology Holdings Limited Corporate Events

Minshang Creative Technology Relocates Hong Kong Headquarters

Minshang Creative Technology Holdings Limited has announced a change in the location of its headquarters and principal place of business in Hong Kong. The new address will be effective from December 15, 2025, while the company’s telephone numbers will remain unchanged. This relocation could potentially impact the company’s operational logistics and stakeholder interactions in Hong Kong.

The most recent analyst rating on (HK:1632) stock is a Hold with a HK$0.10 price target. To see the full list of analyst forecasts on Minshang Creative Technology Holdings Limited stock, see the HK:1632 Stock Forecast page.

Minshang Creative Technology Reports Increased Revenue but Faces Comprehensive Loss

Minshang Creative Technology Holdings Limited announced its unaudited consolidated results for the six months ending September 30, 2025, revealing a revenue increase to HK$19,360,000 compared to HK$8,000 in the previous year. Despite the revenue growth, the company reported a comprehensive loss of HK$9,536,000, indicating challenges in managing costs and losses from associates, impacting its financial performance and market positioning.

The most recent analyst rating on (HK:1632) stock is a Hold with a HK$0.07 price target. To see the full list of analyst forecasts on Minshang Creative Technology Holdings Limited stock, see the HK:1632 Stock Forecast page.

Minshang Creative Technology Schedules Board Meeting for Interim Results

Minshang Creative Technology Holdings Limited has announced a board meeting scheduled for November 27, 2025, to discuss and approve the interim results for the six months ending September 30, 2025, and to consider the payment of an interim dividend. This meeting is significant as it will provide insights into the company’s financial performance and potential shareholder returns, impacting its market positioning and stakeholder interests.