FSM Holdings Limited (HK:1721)
:1721
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FSM Holdings Limited
(1721)
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Rating:46Neutral
Price Target:
HK$0.20
▲(3.16% Upside)
Action:Reiterated
Date:02/03/26
The score is held back primarily by weak financial performance (multi-year revenue decline, ongoing losses, and negative operating/free cash flow) and bearish technicals (price below major moving averages and negative MACD). Valuation does not provide clear support due to a negative P/E and no dividend yield data.
Positive Factors
Conservative leverage
A relatively low debt-to-equity ratio provides a durable financial buffer and preserves borrowing capacity. This conservative leverage profile reduces bankruptcy risk, supports liquidity during downturns, and gives management flexibility to fund strategic investments across its portfolio over the medium term.
Negative Factors
Multi-year revenue decline
Sustained top-line contraction and three consecutive years of negative EBIT and net income signal structural operational weaknesses. Continued revenue erosion undermines margins, reduces reinvestment capacity, and makes returning to sustainable profitability a material medium-term challenge for the business.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative leverage
A relatively low debt-to-equity ratio provides a durable financial buffer and preserves borrowing capacity. This conservative leverage profile reduces bankruptcy risk, supports liquidity during downturns, and gives management flexibility to fund strategic investments across its portfolio over the medium term.
Read all positive factors
FSM Holdings Limited (1721) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$140.00M
Dividend YieldN/A
Average Volume (3M)53.33K
Price to Earnings (P/E)―
Beta (1Y)-0.44
Revenue Growth10.03%
EPS Growth-34.10%
CountryHK
Employees229
SectorIndustrials
Sector Strength72
IndustryManufacturing - Metal Fabrication
Share Statistics
EPS (TTM)0.00
Shares Outstanding1,000,000,000
10 Day Avg. Volume51,500
30 Day Avg. Volume53,333
Financial Highlights & Ratios
PEG Ratio0.79
Price to Book (P/B)2.74
Price to Sales (P/S)5.55
P/FCF Ratio-27.09
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
FSM Holdings Limited Business Overview & Revenue Model
Company Description
FSM Holdings Limited, an investment holding company, operates as a sheet metal fabricator in Singapore, Malaysia, and internationally. It operates in two segments, Manufacturing Business and Online Business. The Manufacturing Business segment enga...
How the Company Makes Money
FSM Holdings generates revenue through a combination of investment returns from its diverse portfolio, which includes technology solutions, healthcare products, and real estate. The company's revenue model is primarily driven by capital appreciati...
FSM Holdings Limited Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
60
Neutral
Cash Flow
50
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 15.81M | 14.88M | 16.07M | 23.30M | 16.08M | 10.34M |
| Gross Profit | 6.76M | 5.97M | 5.94M | 10.71M | 4.98M | 1.44M |
| EBITDA | -2.31M | -2.93M | -1.54M | 5.22M | -202.00K | -558.00K |
| Net Income | -6.97M | -3.41M | -4.88M | 2.06M | -3.14M | -2.60M |
Balance Sheet | ||||||
| Total Assets | 48.22M | 51.89M | 55.19M | 43.85M | 40.20M | 41.71M |
| Cash, Cash Equivalents and Short-Term Investments | 32.90M | 36.35M | 38.98M | 23.48M | 20.99M | 22.99M |
| Total Debt | 14.62M | 15.57M | 14.46M | 1.04M | 1.35M | 1.69M |
| Total Liabilities | 20.35M | 21.73M | 21.07M | 9.33M | 7.52M | 6.01M |
| Stockholders Equity | 27.87M | 30.16M | 34.11M | 34.52M | 32.68M | 35.69M |
Cash Flow | ||||||
| Free Cash Flow | -5.96M | -3.05M | -1.51M | 3.05M | -1.65M | 240.00K |
| Operating Cash Flow | -5.78M | -2.77M | -1.50M | 3.86M | -1.16M | 554.00K |
| Investing Cash Flow | 517.00K | 672.00K | 11.75M | -4.43M | 5.36M | -597.00K |
| Financing Cash Flow | -660.00K | -674.00K | 16.15M | -770.00K | -1.14M | -930.00K |
FSM Holdings Limited Technical Analysis
Negative
0.19
Price Trends
0.14
Negative
0.17
Negative
0.28
Negative
Market Momentum
>-0.01
Negative
23.88
Positive
>-0.01
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1721, the sentiment is Negative. The current price of 0.19 is above the 20-day moving average (MA) of 0.14, above the 50-day MA of 0.14, and below the 200-day MA of 0.28, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 23.88 is Positive, neither overbought nor oversold. The STOCH value of >-0.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1721.
FSM Holdings Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | HK$1.40B | 6.19 | 7.83% | 5.09% | -4.27% | 1.07% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | HK$893.95M | -39.20 | -1.44% | 14.77% | -15.02% | -65.74% | |
59 Neutral | HK$195.00M | 6.53 | 5.76% | ― | -8.96% | -39.22% | |
56 Neutral | HK$303.88M | -10.57 | -4.33% | ― | -1.23% | 54.52% | |
46 Neutral | HK$140.00M | -3.27 | -24.01% | ― | 10.03% | -34.10% |
* Industrials Sector Average
HK:1721
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0.00%
FSM Holdings Limited Corporate Events
FSM Holdings Announces Board Changes with New Independent Director
Nov 13, 2025
FSM Holdings Limited has announced changes in its board composition, with the resignation of Ms. Leung Tze Ying Gwen as an independent non-executive director and the appointment of Ms. Wu Guang Yuan to the same position. Ms. Wu, a lawyer with 22 y...
FSM Holdings Limited Announces Board Composition and Roles
Nov 13, 2025
FSM Holdings Limited, a company incorporated in the Cayman Islands, has announced the composition of its board of directors and their roles within the company. The board includes executive director Wong Yet Lian, who serves as the Chief Executive ...
FSM Holdings Limited Announces Auditor Resignation Amid Sanctions Conflict
Nov 7, 2025
FSM Holdings Limited announced the resignation of PricewaterhouseCoopers (PwC) as its auditor, effective from November 7, 2025. The resignation was due to a conflict arising from the U.S. Department of the Treasury’s Office of Foreign Assets...
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.