Bonny International Holding Ltd. (1906) AI Stock Analysis

• Market Cap: HK$463.40M
• Dividend Yield: N/A
• Average Volume (3M): 4.81M
• Price to Earnings (P/E): ―
• Beta (1Y): -0.13
• Revenue Growth: 46.93%
• EPS Growth: 63.40%
• Country: HK
• Employees: 777
• Sector: Consumer Cyclical
• Sector Strength: 58
• Industry: Apparel - Manufacturers
• EPS (TTM): -0.02
• Shares Outstanding: 1,471,123,700
• 10 Day Avg. Volume: 3,953,900
• 30 Day Avg. Volume: 4,805,300
• PEG Ratio: 0.32
• Price to Book (P/B): 1.81
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -6.40
• 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

• Rating: 41 Neutral
• Price Target: ―

Bonny International Holding Ltd. has a low overall stock score due to significant financial challenges, including declining revenues, persistent losses, and negative cash flows. The stock shows neutral technical indicators, lacking upward momentum. The negative P/E ratio and absence of a dividend yield further contribute to a weak valuation outlook.

Bonny International Holding Ltd. Business Overview & Revenue Model

Company Description

Bonny International Holding Limited, an investment holding company, manufactures and sells intimate wear products. It operates in two segments, Original Design Manufacture (ODM) Products and Brand Products. The ODM Products segment manufactures and sells underwear or other ODM products to overseas customers or their agents. The Brand Products segment manufactures and sells ladies brassieres, panties, thermal underwear, and functional sportswear under the Bonny brand name. As of December 31, 2021, it operated 133 self-operated retail outlets comprising 124 self-operated concession counters and 9 self-operated standalone stores; and 32 franchised retail outlets covering 18 provinces, municipalities, and autonomous regions in the People's Republic of China. The company operates in Mainland China, the United States, Germany, the Netherlands, Japan, Canada, and internationally. Bonny International Holding Limited was incorporated in 2017 and is based in Kowloon, Hong Kong.

How the Company Makes Money

Bonny International Holding Ltd. generates revenue through the sale of its intimate wear products. The company's key revenue streams include wholesale distribution to retailers, direct-to-consumer sales through online and offline channels, and private label manufacturing for other brands. Additionally, the company benefits from strategic partnerships with retail chains and e-commerce platforms, which help to broaden its market reach and increase sales volumes. Bonny International also invests in marketing and promotional activities to enhance brand recognition and consumer demand, further driving revenue growth.

Bonny International Holding Ltd. Financial Statement Overview

Summary

Bonny International Holding Ltd. faces significant financial challenges, with declining revenues, persistent losses, and negative cash flows indicating operational inefficiencies. While the company's leverage is moderate, the negative trends in profitability and cash flow highlight underlying financial instability.

Income Statement

The company shows a declining trend in revenue and profitability. Gross profit margin decreased from 40.9% in 2020 to 29.6% in 2024, and net income turned negative in recent years, indicating profitability challenges. Despite an improvement in EBIT margin from -29.8% in 2023 to -4.8% in 2024, the overall margins remain negative.

Balance Sheet

The balance sheet reflects moderate leverage with a debt-to-equity ratio of 0.49 in 2024. The equity ratio stands at 55%, indicating a stable capital structure. However, continuous losses have eroded equity over time, posing a potential risk.

Cash Flow

Free cash flow has been consistently negative, indicating operational and investment challenges. Operating cash flow to net income ratio is not calculable due to negative net income, reflecting cash flow difficulties stemming from weak operational performance.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
266.74M	177.67M	160.91M	248.78M	287.81M
	Gross Profit
78.86M	41.67M	31.64M	65.66M	117.72M
	EBIT
-12.69M	-52.98M	-73.65M	-41.18M	-10.97M
	EBITDA
17.43M	-17.93M	-48.84M	-29.05M	4.30M
	Net Income Common Stockholders
-16.73M	-45.27M	-70.94M	-6.55M	48.28M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
14.15M	3.65M	10.73M	12.76M	54.13M
	Total Assets
644.80M	588.08M	571.50M	593.73M	658.54M
	Total Debt
172.71M	133.59M	144.24M	144.79M	124.52M
	Net Debt
165.04M	129.94M	137.79M	136.09M	76.26M
	Total Liabilities
289.27M	275.40M	281.56M	248.00M	312.82M
	Stockholders Equity
354.41M	311.55M	288.88M	344.66M	344.65M
Cash Flow		Free Cash Flow
0.00	-6.73M	-7.32M	-52.63M	-41.15M
	Operating Cash Flow
0.00	9.56M	28.89M	27.27M	53.03M
	Investing Cash Flow
0.00	-10.10M	-36.37M	-71.88M	57.43M
	Financing Cash Flow
0.00	-2.29M	5.11M	5.06M	-121.24M

Bonny International Holding 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:1906, the sentiment is Negative. The current price of 0.32 is below the 20-day moving average (MA) of 0.36, below the 50-day MA of 0.37, and below the 200-day MA of 0.35, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 32.80 is Neutral, neither overbought nor oversold. The STOCH value of 21.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1906.

Bonny International Holding Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
1810	80 Outperform	$1.35T	39.56	14.98%	―	38.46%	72.44%
1234	76 Outperform	HK$4.38B	8.77	11.39%	19.67%	1.38%	-14.80%
2299	72 Outperform	HK$9.73B	12.01	7.06%	―	14.35%	107.03%
Sector *	62 Neutral	$6.82B	11.05	2.80%	4.32%	2.67%	-24.92%
1778	56 Neutral	HK$312.38M	12.17	0.44%	―	23.25%	-22.03%
1912	45 Neutral	HK$83.46M	―	-42.18%	―	-6.19%	18.71%
1906	41 Neutral	HK$463.40M	―	-5.04%	―	46.93%	63.40%

Bonny International Holding Ltd. Corporate Events

Bonny International Announces 2025 AGM with Key Resolutions

Bonny International Holding Limited has announced its upcoming annual general meeting scheduled for May 29, 2025, in Yiwu City, Zhejiang Province, PRC. Key agenda items include the consideration of the company’s audited financial statements for 2024, re-election of directors, and re-appointment of Ernst & Young as the company’s auditor. Additionally, the meeting will address resolutions to authorize the board to manage share capital activities, potentially impacting the company’s strategic financial operations and shareholder value.

Bonny International Reports Revenue Growth Amidst Reduced Losses for 2024

Bonny International Holding Ltd. announced its annual results for the year ended December 31, 2024, reporting a revenue increase from RMB 177,671,000 in 2023 to RMB 266,737,000 in 2024. Despite the revenue growth, the company faced a loss of RMB 16,733,000 for the year, which is an improvement from the previous year’s loss of RMB 45,210,000. This financial performance indicates a challenging yet progressive year for the company, with implications for its market positioning and stakeholder confidence.

Bonny International Issues Profit Warning Amid Improved Revenue

Bonny International Holding Limited has issued a profit warning, indicating an expected loss of approximately RMB16.7 million for the year 2024, an improvement from the RMB45.3 million loss in 2023. This loss is mainly due to a decrease in the fair value of investment properties and a bad debt provision. Excluding these factors, the company nearly broke even with a slight profit, driven by a significant increase in revenue from its principal activities.

Bonny International Schedules Board Meeting to Approve Annual Results

Bonny International Holding Ltd. has announced that its board of directors will convene on March 28, 2025, to review and approve the company’s annual financial results for the year ending December 31, 2024. The meeting will also consider the recommendation of a final dividend payment, which could impact the company’s financial strategy and shareholder returns.

Bonny International’s Controlling Shareholder Pledges Shares as Loan Guarantee

Bonny International Holding Limited, listed on the Hong Kong Stock Exchange, announced that its controlling shareholder, Maximax Holding Corporation, has pledged 550,099,285 ordinary shares as a guarantee for a loan provided to a company controlled by Mr. Jin Guojun. This pledge represents approximately 37.39% of the issued share capital and is not intended to provide any guarantees for Bonny International’s debts or obligations.