Prinx Chengshan Holdings Limited (HK:1809)
:1809
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Prinx Chengshan Holdings Limited
(1809)
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Rating:74Outperform
Price Target:
HK$9.00
▲(13.35% Upside)
Action:Reiterated
Date:04/09/26
The score is driven primarily by solid fundamentals (multi-year growth and stronger balance sheet into 2024, despite 2025 margin/earnings softening and higher debt) and a very attractive valuation (very low P/E and high dividend yield). Technical indicators are mixed with only modest momentum support, which tempers the overall score.
Positive Factors
Consistent multi-year revenue growth
Sustained top-line growth across 2020–2025 indicates durable demand for the company’s tire products across OEM and replacement channels. Multi-year volume and revenue expansion supports scale economies, long-term manufacturing utilization and the ability to invest in product lines and distribution.
Negative Factors
2025 earnings and margin step-down
A clear deterioration in 2025 profitability versus 2023–2024 undermines margin sustainability and highlights exposure to cost pressures or an unfavorable product mix. If margins remain depressed, it will limit internal cash for reinvestment and weaken cushions built by prior deleveraging.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent multi-year revenue growth
Sustained top-line growth across 2020–2025 indicates durable demand for the company’s tire products across OEM and replacement channels. Multi-year volume and revenue expansion supports scale economies, long-term manufacturing utilization and the ability to invest in product lines and distribution.
Read all positive factors
Prinx Chengshan Holdings Limited (1809) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$4.99B
Dividend Yield8.39%
Average Volume (3M)108.93K
Price to Earnings (P/E)4.1
Beta (1Y)0.30
Revenue Growth7.65%
EPS Growth-16.88%
CountryHK
Employees6,818
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)1.71
Shares Outstanding638,645,000
10 Day Avg. Volume91,700
30 Day Avg. Volume108,933
Financial Highlights & Ratios
PEG Ratio-0.24
Price to Book (P/B)0.62
Price to Sales (P/S)0.38
P/FCF Ratio7.90
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)2.58
Revenue Forecast (FY)HK$12.69B
Prinx Chengshan Holdings Limited Business Overview & Revenue Model
Company Description
Prinx Chengshan Holdings Limited, an investment holding company, together with its subsidiaries, designs, manufactures, trades in, and distributes tires in the People's Republic of China, Thailand, rest of Asia, the Americas, Africa, the Middle Ea...
How the Company Makes Money
The company makes money primarily by selling tires, with revenue generated from (1) OEM sales—supplying tires to vehicle manufacturers for installation on new vehicles, and (2) replacement sales—selling tires to end users through distributors, dea...
Prinx Chengshan Holdings Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
74
Positive
Cash Flow
68
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 11.81B | 10.97B | 9.95B | 8.15B | 7.54B |
| Gross Profit | 2.14B | 2.33B | 2.12B | 1.17B | 1.04B |
| EBITDA | 1.68B | 1.87B | 1.71B | 833.18M | 574.07M |
| Net Income | 1.09B | 1.31B | 1.03B | 393.78M | 276.30M |
Balance Sheet | |||||
| Total Assets | 11.79B | 11.02B | 10.60B | 9.99B | 9.10B |
| Cash, Cash Equivalents and Short-Term Investments | 1.25B | 704.57M | 726.28M | 1.24B | 835.97M |
| Total Debt | 1.74B | 809.26M | 2.14B | 3.12B | 2.79B |
| Total Liabilities | 4.53B | 4.48B | 5.17B | 5.53B | 5.18B |
| Stockholders Equity | 7.19B | 6.54B | 5.43B | 4.45B | 3.92B |
Cash Flow | |||||
| Free Cash Flow | 564.12M | 667.78M | 558.58M | 208.12M | -1.02B |
| Operating Cash Flow | 1.12B | 1.25B | 996.80M | 805.42M | 382.13M |
| Investing Cash Flow | -553.08M | -515.28M | -306.31M | -681.67M | -1.34B |
| Financing Cash Flow | -163.12M | -733.82M | -1.13B | 89.88M | 1.14B |
Prinx Chengshan Holdings Limited Technical Analysis
Neutral
7.94
Price Trends
7.85
Positive
7.95
Negative
7.64
Positive
Market Momentum
>-0.01
Positive
47.80
Neutral
45.45
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1809, the sentiment is Neutral. The current price of 7.94 is below the 20-day moving average (MA) of 7.95, above the 50-day MA of 7.85, and above the 200-day MA of 7.64, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 47.80 is Neutral, neither overbought nor oversold. The STOCH value of 45.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:1809.
Prinx Chengshan Holdings Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | HK$4.99B | 4.10 | 15.47% | 8.39% | 7.65% | -16.88% | |
73 Outperform | HK$159.52B | 19.54 | 24.34% | 4.35% | 16.74% | 24.19% | |
65 Neutral | HK$43.03B | 12.26 | 12.26% | 1.39% | 11.26% | 15.82% | |
62 Neutral | HK$11.92B | 20.26 | 4.89% | 1.02% | 7.11% | 65.26% | |
62 Neutral | HK$10.31B | 28.99 | 8.17% | ― | 11.61% | -12.63% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | HK$13.73B | 24.10 | 8.45% | 1.37% | 24.97% | 0.39% |
* Consumer Cyclical Sector Average
HK:1809
Prinx Chengshan Holdings Limited
7.82
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4.97%
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Prinx Chengshan Holdings Limited Corporate Events
Prinx Chengshan Strengthens Governance With Overhaul of Audit and Risk Committee
Mar 30, 2026
Prinx Chengshan Holdings has updated its governance structure by formalizing and amending the terms of reference for its Audit and Risk Management Committee, effective 30 March 2026. The committee, renamed from the Audit Committee, will comprise o...
Prinx Chengshan Elevates ESG Role in Board-Level Strategy Committee
Mar 30, 2026
Prinx Chengshan Holdings has updated the governance framework for its board-level committee overseeing corporate development by renaming the Development Strategy and Risk Management Committee as the Development Strategy and ESG Committee, effectiv...
Prinx Chengshan Publishes Audited 2025 Annual Results and Report Timetable
Mar 30, 2026
Prinx Chengshan Holdings Limited has released its audited annual results for the year ended 31 December 2025, along with the full 2025 annual report. The report, which complies with Hong Kong listing requirements, will be accessible on the company...
Prinx Chengshan Declares HK$0.50 Final Dividend and Outlines Tax Treatment for Non-Resident Shareholders
Mar 30, 2026
Prinx Chengshan Holdings Limited has declared a final ordinary cash dividend of HKD 0.5 per share for the financial year ended 31 December 2025, payable in Hong Kong dollars on 7 August 2026 to shareholders on record as of 30 July 2026. The timeta...
Prinx Chengshan Sets March 2026 Board Meeting to Approve 2025 Results and Consider Dividend
Mar 18, 2026
Prinx Chengshan Holdings Limited has scheduled a board meeting for 30 March 2026 to review and approve the annual results for the year ended 31 December 2025, along with their release to the market. The board will also consider whether to recommen...
Prinx Chengshan Updates Board and Committee Roles to Strengthen Governance
Feb 27, 2026
Prinx Chengshan Holdings Limited has updated the composition and role allocation of its board of directors and board committees, effective 1 March 2026, refining responsibilities across audit, nomination and remuneration, and development strategy ...
Prinx Chengshan Confirms Independence of Newly Appointed Board Member
Feb 13, 2026
Prinx Chengshan Holdings has issued a supplemental announcement regarding the appointment of Mr. Chan Chi Fung, Leo as an independent non-executive director. The company disclosed that Mr. Chan has no financial or other interests in the group̵...
Prinx Chengshan Revamps Board With Independent Director Change Effective 2026
Feb 12, 2026
Prinx Chengshan Holdings Limited has announced that independent non-executive director Mr. Choi Tze Kit, Sammy will resign from the board, as well as from his roles as chairman of the audit committee and member of the nomination and remuneration c...
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.