Bonny International Holding Ltd. (1906) AI Stock Analysis

• Market Cap: HK$492.83M
• Dividend Yield: N/A
• Average Volume (3M): 3.97M
• Price to Earnings (P/E): ―
• Beta (1Y): -0.22
• Revenue Growth: 46.93%
• EPS Growth: 63.40%
• Country: HK
• Employees: 777
• Sector: Consumer Cyclical
• Sector Strength: 60
• Industry: Apparel - Manufacturers
• EPS (TTM): -0.02
• Shares Outstanding: 1,471,123,700
• 10 Day Avg. Volume: 2,893,000
• 30 Day Avg. Volume: 3,967,633
• PEG Ratio: -0.54
• Price to Book (P/B): 1.21
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -31.98
• 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: 43 Neutral
• Price Target: HK$0.50 ▲(47.06%Upside)

The most significant factor affecting the score is the company's poor financial performance, marked by declining revenues and persistent losses. Valuation further exacerbates concerns with a negative P/E ratio, indicating financial distress. Technical analysis adds a neutral view with slight bearish tendencies, contributing moderately to the score. The absence of earnings call and corporate events data limits additional insights.

Bonny International Holding Ltd. Business Overview & Revenue Model

Company Description

Bonny International Holding Ltd. (1906) is a company engaged primarily in the design, manufacturing, and sale of intimate wear. Based in China, the company offers a wide variety of products including bras, panties, shapewear, and loungewear, catering to both domestic and international markets. The company is known for its emphasis on quality, comfort, and innovative design in the intimate apparel sector.

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
EBITDA	17.43M	-17.93M	-48.84M	-29.05M	4.30M
Net Income	-16.73M	-45.27M	-70.94M	-6.55M	48.28M
Balance Sheet
Total Assets	644.80M	588.08M	571.50M	593.73M	658.54M
Cash, Cash Equivalents and Short-Term Investments	14.15M	3.65M	10.73M	12.76M	54.13M
Total Debt	172.71M	133.59M	144.24M	144.79M	124.52M
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	-56.57M	-6.73M	-7.32M	-52.63M	-41.15M
Operating Cash Flow	5.21M	9.56M	28.89M	27.27M	53.03M
Investing Cash Flow	-57.63M	-10.10M	-36.37M	-71.88M	57.43M
Financing Cash Flow	56.42M	-2.29M	5.11M	5.06M	-121.24M

Bonny International Holding Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.34
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• 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 Positive. The current price of 0.34 is above the 20-day moving average (MA) of 0.33, below the 50-day MA of 0.35, and below the 200-day MA of 0.35, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 50.85 is Neutral, neither overbought nor oversold. The STOCH value of 53.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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
2298	69 Neutral	HK$526.42M	3.82	6.38%	2.08%	7.08%	190.74%
1433	67 Neutral	HK$162.00M	2.61	28.06%	9.26%	48.01%	―
Sector *	56 Neutral	$3.37B	4.05	-1.30%	6.64%	0.16%	-63.79%
1247	51 Neutral	HK$382.53M	―	-20.60%	―	154.67%	-81.13%
3778	45 Neutral	HK$463.37M	―	-1.72%	―	14.05%	56.22%
1906	43 Neutral	HK$492.83M	―	-5.04%	―	46.93%	63.40%

Bonny International Holding Ltd. Corporate Events

Bonny International Appoints New Nomination Committee Members

Bonny International Holding Limited, a company incorporated in the Cayman Islands, has announced the appointment of Ms. Gong Lijin and Mr. Chow Chi Hang Tony to its Nomination Committee. This move is in compliance with upcoming amendments to the Corporate Governance Code of the Hong Kong Stock Exchange, effective from July 1, 2025. The appointments are effective from June 27, 2025, and are part of the company’s efforts to align with regulatory requirements, potentially impacting its governance structure positively.

Bonny International Updates Nomination Committee Terms

Bonny International Holding Limited has revised the terms of reference for its Nomination Committee, which is responsible for nominating directors to the Board. The committee will consist of at least three members, with a majority being independent non-executive directors and at least one member of a different gender. This revision aims to enhance the governance structure of the company by ensuring diversity and independence in its board nominations, potentially impacting the company’s strategic direction and stakeholder confidence.

Bonny International Announces Board Composition and Committee Roles

Bonny International Holding Ltd. has announced the composition of its board of directors, which includes executive, non-executive, and independent non-executive directors. The company has also established three standing board committees: the Audit Committee, the Remuneration Committee, and the Nomination Committee, with specific directors assigned as members or chairpersons of these committees.

Bonny International Announces Lease Agreement for Zhejiang Factory

Bonny International Holding Ltd. announced a connected transaction involving a lease agreement between its subsidiary, Zhejiang Bonny, and Zhejiang Hongliu, a company indirectly owned by the son of Bonny’s controlling shareholder. The lease agreement, effective from December 2025 to November 2028, involves a factory in Yiwu City, Zhejiang, to be used as a printing and dyeing facility. The transaction, valued at approximately RMB4,070,000, is recognized as a right-of-use asset under HKFRS 16 and is subject to reporting and announcement requirements under Hong Kong’s Listing Rules.

Bonny International’s AGM Resolutions Unanimously Approved

Bonny International Holding Limited successfully held its Annual General Meeting on May 29, 2025, where all proposed resolutions were approved unanimously by the shareholders. The resolutions included the re-election of directors, re-appointment of auditors, and granting of general mandates to the board, reflecting strong shareholder support and confidence in the company’s governance and strategic direction.

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.