Man Shun Group (Holdings) Ltd. (1746) AI Stock Analysis

• Market Cap: HK$320.00M
• Dividend Yield: N/A
• Average Volume (3M): 1.30M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.09
• Revenue Growth: -30.56%
• EPS Growth: -160.00%
• Country: HK
• Employees: 71
• Sector: Industrials
• Sector Strength: 72
• Industry: Engineering & Construction
• EPS (TTM): >-0.01
• Shares Outstanding: 1,000,000,000
• 10 Day Avg. Volume: 2,077,200
• 30 Day Avg. Volume: 1,303,892
• PEG Ratio: 0.03
• Price to Book (P/B): 1.66
• Price to Sales (P/S): 1.53
• P/FCF Ratio: -520.36
• 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: Hold
• Number of Analyst Covering: 0

• Rating: 47 Neutral
• Price Target: HK$0.50 ▲(56.25% Upside)

The overall stock score of 47 reflects significant financial challenges, including declining revenue and profitability, negative profit margins, and cash flow issues. Technical indicators suggest a neutral to slightly bearish trend, while valuation metrics indicate potential overvaluation due to negative earnings. The lack of earnings call data and corporate events further limits positive influences on the score.

Man Shun Group (Holdings) Ltd. Business Overview & Revenue Model

Company Description

Man Shun Group (Holdings) Ltd. (1746) is a Hong Kong-based company engaged in the construction and engineering industry. The company specializes in the provision of electrical and mechanical engineering services, primarily focusing on the installation of electrical and mechanical systems in buildings and infrastructure projects. Their services include electrical systems installation, air-conditioning and ventilation systems installation, fire services systems installation, and plumbing and drainage systems installation.

How the Company Makes Money

Man Shun Group (Holdings) Ltd. generates revenue through contracts for their engineering services in the construction sector. The company's primary revenue streams come from providing electrical and mechanical installation services for various types of buildings, including residential, commercial, industrial, and institutional buildings. They earn money by securing contracts for these services, either as a main contractor or subcontractor, depending on the project requirements. The company may also engage in collaborative projects or partnerships with other construction firms to expand their service offerings and project portfolio. The demand for construction and engineering services in the region, as well as their ability to maintain strong client relationships and secure repeat business, are significant factors contributing to their earnings.

Man Shun Group (Holdings) Ltd. Financial Statement Overview

Summary

Man Shun Group exhibits worrying financial trends. Revenue and profitability are declining, with negative profit margins and cash flow issues. Despite the company's strong equity position and low leverage, the negative return on equity and zero operating cash flow pose significant risks.

Income Statement

The company shows a declining revenue trend with a negative revenue growth rate from 2023 to 2024. Gross profit margin has decreased from 12.55% in 2023 to 10.19% in 2024, indicating reduced profitability. The net profit margin shifted from a positive 0.44% in 2023 to a negative -5.23% in 2024, showing a significant deterioration in net income. EBIT and EBITDA margins are also negative, reflecting operational inefficiencies.

Balance Sheet

The company maintains a strong equity position with an equity ratio of 88.61% in 2024. The debt-to-equity ratio is low at 0.007, indicating low leverage. However, the return on equity has turned negative at -5.67%, primarily due to negative net income, which raises concerns about the company's ability to generate returns for shareholders.

Cash Flow

Cash flow analysis reveals significant challenges, with operating cash flow dropping to zero in 2024 from a positive $21.6M in 2023. There is no free cash flow growth, and both operating cash flow to net income and free cash flow to net income ratios are undefined due to zero cash flow, indicating cash generation issues.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	105.89M	131.26M	152.95M	125.09M	121.67M	127.59M
Gross Profit	16.45M	13.38M	19.21M	18.71M	20.96M	10.27M
EBITDA	-11.54M	-14.22M	2.89M	2.35M	-293.00K	-6.70M
Net Income	-6.47M	-6.86M	680.00K	238.00K	-2.23M	-8.46M
Balance Sheet
Total Assets	132.90M	136.50M	172.71M	164.37M	171.50M	168.38M
Cash, Cash Equivalents and Short-Term Investments	80.47M	66.81M	88.37M	68.99M	90.05M	96.86M
Total Debt	818.00K	854.00K	1.51M	1.29M	2.01M	3.10M
Total Liabilities	13.38M	15.53M	20.89M	13.22M	20.59M	15.25M
Stockholders Equity	119.52M	120.97M	151.83M	151.15M	150.91M	153.13M
Cash Flow
Free Cash Flow	22.71M	-386.00K	21.42M	-19.72M	-4.95M	-1.25M
Operating Cash Flow	22.72M	193.00K	19.16M	-19.17M	-4.87M	-870.00K
Investing Cash Flow	-11.00K	1.94M	6.13M	35.40M	19.92M	-55.38M
Financing Cash Flow	-25.49M	-25.48M	-1.51M	-1.90M	-1.87M	-1.62M

Man Shun Group (Holdings) Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.32
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1746, the sentiment is Negative. The current price of 0.32 is below the 20-day moving average (MA) of 0.33, below the 50-day MA of 0.35, and below the 200-day MA of 0.41, indicating a bearish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 45.74 is Neutral, neither overbought nor oversold. The STOCH value of 20.74 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1746.

Man Shun Group (Holdings) Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
8188	69 Neutral	HK$493.80M	6.08	45.61%	4.76%	-6.68%	-25.58%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
8305	55 Neutral	HK$771.12M	―	-8.56%	―	-0.84%	72.06%
6063	54 Neutral	HK$418.00M	130.63	2.51%	―	7.08%	-5.88%
1746	47 Neutral	HK$320.00M	-49.23	-4.80%	―	-30.56%	-160.00%
0406	46 Neutral	HK$297.88M	-3.01	-6.86%	7.35%	23.19%	-247.32%

Man Shun Group (Holdings) Ltd. Corporate Events

Man Shun Group Reports Decreased Revenue but Lower Losses in H1 2025

Man Shun Group (Holdings) Ltd. reported a revenue of approximately HK$44,017,000 for the six months ending June 30, 2025, a decrease from the HK$69,388,000 recorded in the same period in 2024. Despite a reduction in revenue, the company’s loss attributable to equity shareholders decreased to approximately HK$1,446,000 from HK$1,840,000 in the previous year, indicating a potential improvement in cost management or operational efficiency.

The most recent analyst rating on (HK:1746) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Man Shun Group (Holdings) Ltd. stock, see the HK:1746 Stock Forecast page.

Man Shun Group Announces Board Meeting for Interim Results

Man Shun Group (Holdings) Limited has announced that its Board of Directors will meet on 27 August 2025 to approve the company’s unaudited interim results for the first half of 2025 and 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 stakeholders’ expectations and the company’s market positioning.