A & S Group (Holdings) Limited (1737) AI Stock Analysis

• Market Cap: HK$92.00M
• Dividend Yield: 20.41%
• Average Volume (3M): 64.33K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.22
• Revenue Growth: -27.59%
• EPS Growth: -396.23%
• Country: HK
• Employees: 363
• Sector: Industrials
• Sector Strength: 72
• Industry: Integrated Freight & Logistics
• EPS (TTM): -0.01
• Shares Outstanding: 1,000,000,000
• 10 Day Avg. Volume: 7,000
• 30 Day Avg. Volume: 64,333
• PEG Ratio: 0.03
• Price to Book (P/B): 0.69
• Price to Sales (P/S): 0.23
• P/FCF Ratio: 2.43
• 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 ▼(-7.00% Downside)

The overall stock score reflects significant financial challenges, particularly in revenue and profitability, which weigh heavily on the company's outlook. Technical indicators suggest some potential for short-term recovery, but valuation concerns persist due to negative earnings and an unsustainably high dividend yield. Addressing these financial and operational issues is crucial for improving the stock's prospects.

Positive Factors

Cash Generation Ability

A strong free cash flow to net income ratio indicates efficient cash generation, providing financial flexibility to support operations and investments.

Balance Sheet Health

A moderate debt-to-equity ratio suggests a solid capital structure, allowing the company to withstand financial pressures and pursue growth opportunities.

Operational Efficiency

Maintaining a positive EBITDA margin despite revenue challenges indicates operational efficiency, which can support long-term profitability.

Negative Factors

Revenue Decline

A significant decline in revenue growth can impact the company's ability to invest in new opportunities and maintain competitive positioning.

Profitability Challenges

Negative profit margins indicate profitability challenges, which can strain resources and limit the company's ability to reinvest in its business.

Earnings Growth

A significant decline in EPS growth reflects underlying profitability issues and can negatively affect investor confidence and future capital raising efforts.

A & S Group (Holdings) Limited Business Overview & Revenue Model

Company Description

A & S Group (Holdings) Limited, an investment holding company, provides air freight forwarding ground handling, and air cargo terminal operating services in Hong Kong. Its air freight forwarding ground handling services include air cargo X-ray screening services; and warehousing management services, such as supply chain planning, warehousing, and inventory management services, as well as support services in handling import and export services. The company also offers import services comprising warehouse cargo storage, cargo collection and release, cargo de-palletization, empty ULD handling, and cross-docking services; and export services, including warehouse cargo storage, warehouse registration and cargo acceptance, pallet buildup, loose bulk and co-load shipment, empty ULD handling, vulnerable shipment, escort, and manpower support services. In addition, it provides air cargo terminal services, such as import and export cargo handling, and special cargo handling services; transportation services, including general trucking services comprising cool truck, dangerous goods truck, and air suspension truck services; and training services to handle dangerous goods. Further, the company offers value-added services, such as loading/unloading, cargo sorting, survey handling, customs clearance handling, cargo rebuild, document pickup, trade declaration and license application, pick and pack fulfillment, and garment on hanger services, as well as repacking, labeling, and re-labeling services. It serves logistics companies and freight forwarding agents. The company was founded in 2002 and is headquartered in Kwai Chung, Hong Kong. A & S Group (Holdings) Limited is a subsidiary of Dynamic Victor Limited.

How the Company Makes Money

A & S Group generates revenue primarily through the sale of its electronic components to manufacturers in the consumer electronics and telecommunications sectors. The company employs a business-to-business (B2B) model, where it establishes long-term contracts with clients to ensure a steady stream of income. Key revenue streams include direct sales of components, custom manufacturing services, and potentially licensing agreements for its proprietary technologies. Additionally, strategic partnerships with leading technology firms enhance the company's market presence and provide access to new customer bases, contributing to its overall financial performance.

A & S Group (Holdings) Limited Financial Statement Overview

Summary

The company faces challenges with declining revenue and profitability, impacting its income statement. The balance sheet remains stable with moderate leverage, but profitability issues are evident. Cash flow generation is relatively strong, providing some financial flexibility. Overall, the company needs to address revenue and margin pressures to improve its financial health.

Income Statement

The company has experienced a decline in revenue growth, with a significant drop of 14.89% in the latest year. Margins have also deteriorated, with a negative net profit margin of -3.58% and a negative EBIT margin. The gross profit margin has decreased to 7.08%, indicating pressure on profitability. Despite these challenges, the company has maintained a positive EBITDA margin, suggesting some operational efficiency.

Balance Sheet

The balance sheet shows a moderate debt-to-equity ratio of 0.39, indicating manageable leverage. However, the return on equity has turned negative, reflecting recent losses. The equity ratio remains stable, suggesting a solid capital structure despite profitability challenges.

Cash Flow

Cash flow analysis reveals a decline in free cash flow growth, but the company maintains a healthy operating cash flow to net income ratio of 0.79. The free cash flow to net income ratio is also strong at 0.72, indicating efficient cash generation relative to earnings.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	650.44M	553.59M	649.57M	508.46M	520.20M	408.50M
Gross Profit	64.61M	39.21M	74.13M	45.85M	79.42M	59.31M
EBITDA	20.92M	32.52M	78.95M	68.10M	87.73M	93.15M
Net Income	10.55M	-19.80M	17.63M	8.59M	32.52M	40.52M
Balance Sheet
Total Assets	363.67M	319.98M	310.35M	329.20M	316.23M	310.12M
Cash, Cash Equivalents and Short-Term Investments	106.65M	79.22M	84.99M	82.69M	128.73M	101.86M
Total Debt	64.93M	71.50M	11.02M	60.14M	36.94M	54.04M
Total Liabilities	159.48M	135.66M	86.22M	122.71M	93.32M	89.73M
Stockholders Equity	204.19M	184.32M	224.13M	206.49M	222.91M	220.39M
Cash Flow
Free Cash Flow	61.70M	52.30M	52.08M	47.16M	83.15M	65.58M
Operating Cash Flow	72.74M	72.88M	54.81M	54.62M	90.37M	74.93M
Investing Cash Flow	-10.64M	-20.14M	-2.34M	-6.98M	-7.22M	-8.26M
Financing Cash Flow	-53.53M	-58.51M	-50.18M	-93.68M	-56.28M	-55.10M

A & S Group (Holdings) Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.10
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1737, the sentiment is Positive. The current price of 0.1 is above the 20-day moving average (MA) of 0.09, above the 50-day MA of 0.10, and below the 200-day MA of 0.11, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 76.87 is Negative, neither overbought nor oversold. The STOCH value of 84.62 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1737.

A & S Group (Holdings) Limited 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%
1442	60 Neutral	HK$701.76M	14.85	7.59%	―	13.85%	37.13%
1732	53 Neutral	HK$288.00M	-50.00	-2.51%	―	-1.40%	-128.66%
1737	53 Neutral	HK$92.00M	―	-16.65%	20.41%	-27.59%	-396.23%
6123	45 Neutral	HK$455.61M	―	-4.97%	2.21%	-35.13%	-11.52%
8489	45 Neutral	HK$42.60M	―	-25.91%	―	3.45%	-339.07%
8482	41 Neutral	HK$21.41M	-0.71	-48.39%	―	-15.52%	38.11%

A & S Group (Holdings) Limited Corporate Events

A & S Group Reports Interim Loss Amid Revenue Decline

A & S Group (Holdings) Limited reported its unaudited interim results for the six months ending September 30, 2025, showing a significant decline in revenue and profit compared to the same period in 2024. The company experienced a loss of HK$11.6 million, attributed to decreased gross profit and increased administrative expenses, impacting its financial position and potentially affecting stakeholders’ confidence.

A & S Group Schedules Board Meeting to Review Interim Results

A & S Group (Holdings) Limited has announced a board meeting scheduled for November 21, 2025, to review and approve the unaudited interim results for the six months ending September 30, 2025. The meeting will also consider the payment of an interim dividend, which could impact shareholder returns and reflect the company’s financial health.

A & S Group Issues Profit Warning Amid Market Challenges

A & S Group (Holdings) Limited has issued a profit warning, indicating a significant shift from a net profit of approximately HK$70 thousand in the previous year to an anticipated net loss between HK$11.0 million and HK$15.0 million for the six months ending September 2025. This downturn is attributed to a decrease in cargo volume and challenges in reducing labor costs proportionately, as the company maintained its workforce amid uncertain market conditions.

A & S Group Successfully Passes All Resolutions at AGM

A & S Group (Holdings) Limited announced the successful passing of all proposed resolutions during its annual general meeting held on September 15, 2025. The resolutions included the adoption of financial statements, reappointment of auditors, re-election of directors, and granting of mandates for share issuance and repurchase. This outcome reflects strong shareholder support and positions the company to continue its strategic initiatives with renewed governance and financial oversight.