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Bonny International Holding Ltd.
(1906)
Select Model
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Rating:46Neutral
Price Target:
HK$0.48
▲(0.00% Upside)
Action:Reiterated
Date:04/27/26
The score is held back primarily by weak and worsening profitability and persistent negative free cash flow, despite a notable improvement in operating cash flow. Technical indicators are broadly neutral and do not provide a strong momentum tailwind. Valuation is also constrained by loss-making results (negative P/E) and no dividend yield data.
Positive Factors
Vertical integration
Owning production and product design provides durable control over costs, quality and lead times. This vertical integration supports repeatable product lines, faster product iterations and supply reliability, which strengthen gross-margin preservation and go-to-market resilience.
Negative Factors
Worsening profitability
A sharp swing to a -24% net margin indicates operating costs and non-operating items are overwhelming gross profit. Persistent losses erode equity, limit reinvestment capacity and make it harder to fund a turnaround without external capital or sustained margin improvement.
Read all positive and negative factors
Positive Factors
Negative Factors
Vertical integration
Owning production and product design provides durable control over costs, quality and lead times. This vertical integration supports repeatable product lines, faster product iterations and supply reliability, which strengthen gross-margin preservation and go-to-market resilience.
Read all positive factors
Bonny International Holding Ltd. (1906) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$720.85M
Dividend YieldN/A
Average Volume (3M)6.34M
Price to Earnings (P/E)―
Beta (1Y)-0.31
Revenue Growth-13.06%
EPS Growth-197.89%
CountryHK
Employees777
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Manufacturers
Share Statistics
EPS (TTM)-0.04
Shares Outstanding1,471,123,700
10 Day Avg. Volume7,071,000
30 Day Avg. Volume6,344,750
Financial Highlights & Ratios
PEG Ratio-0.05
Price to Book (P/B)2.09
Price to Sales (P/S)2.68
P/FCF Ratio-23.09
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)N/A
Revenue Forecast (FY)N/A
Bonny International Holding Ltd. Business Overview & Revenue Model
Company Description
As an investment holding company, Bonny International Holding Limited specializes in the production and sale of intimate apparel. Its operations are divided into two main divisions: Original Design Manufacture (ODM) and proprietary Brand Products....
How the Company Makes Money
Bonny International Holding Ltd. makes money primarily by selling lingerie and related apparel products. Its revenue model is centered on (1) product sales under its own brands through various distribution channels (data on specific channel mix no...
Bonny International Holding Ltd. Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
46
Neutral
Cash Flow
34
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 231.84M | 266.74M | 177.67M | 160.91M | 248.78M |
| Gross Profit | 67.17M | 78.86M | 41.67M | 31.64M | 65.66M |
| EBITDA | -10.04M | 17.43M | -17.93M | -48.84M | -29.05M |
| Net Income | -56.79M | -16.73M | -45.27M | -70.94M | -6.55M |
Balance Sheet | |||||
| Total Assets | 623.27M | 644.80M | 588.08M | 571.50M | 593.73M |
| Cash, Cash Equivalents and Short-Term Investments | 21.05M | 14.15M | 3.65M | 10.73M | 12.76M |
| Total Debt | 227.57M | 172.71M | 133.59M | 144.24M | 144.79M |
| Total Liabilities | 325.15M | 289.27M | 275.40M | 281.56M | 248.00M |
| Stockholders Equity | 297.00M | 354.41M | 311.55M | 288.88M | 344.66M |
Cash Flow | |||||
| Free Cash Flow | -26.89M | -56.57M | -6.73M | -7.32M | -52.63M |
| Operating Cash Flow | 31.13M | 5.21M | 9.56M | 28.89M | 27.27M |
| Investing Cash Flow | -57.68M | -57.63M | -10.10M | -36.37M | -71.88M |
| Financing Cash Flow | 39.34M | 56.42M | -2.29M | 5.11M | 5.06M |
Bonny International Holding Ltd. Technical Analysis
Positive
0.48
Price Trends
0.50
Negative
0.54
Negative
0.52
Negative
Market Momentum
-0.01
Positive
51.92
Neutral
47.54
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 0.48 is above the 20-day moving average (MA) of 0.48, below the 50-day MA of 0.50, and below the 200-day MA of 0.52, indicating a neutral trend. The MACD of -0.01 indicates Positive momentum. The RSI at 51.92 is Neutral, neither overbought nor oversold. The STOCH value of 47.54 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
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | HK$15.83B | 9.27 | 14.29% | 5.87% | 6.88% | 11.98% | |
67 Neutral | HK$2.15B | 8.05 | 8.52% | 4.00% | -1.56% | 53.93% | |
63 Neutral | HK$1.78B | 5.95 | 15.21% | 12.14% | 6.23% | -12.18% | |
62 Neutral | HK$756.73M | 5.35 | 5.84% | 6.04% | -1.81% | -2.23% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
53 Neutral | HK$2.05B | -8.84 | -60.62% | ― | 14.00% | 13.29% | |
46 Neutral | HK$720.85M | -11.00 | -17.47% | ― | -13.06% | -197.89% |
* Consumer Cyclical Sector Average
HK:1906
Bonny International Holding Ltd.
0.49
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14.29%
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Cosmo Lady (China) Holdings Co. Ltd.
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53.85%
Bonny International Holding Ltd. Corporate Events
Bonny International Wins Unanimous Shareholder Backing at 2026 AGM
Jun 18, 2026
Bonny International Holding Ltd. reported that all resolutions at its 18 June 2026 annual general meeting were passed by poll with 100% of votes cast in favour. Shareholders approved the 2025 audited financial statements, re-elected key board memb...
Bonny International Shareholders Approve Asset Disposal and Intra‑Group Lease at EGM
May 26, 2026
Bonny International Holding Ltd. announced that all resolutions proposed at its 26 May 2026 extraordinary general meeting were approved by independent shareholders via poll, after the controlling shareholder, chairman Jin Guojun, and his associate...
Bonny International Calls EGM to Approve Disposal and Intra-Group Lease
May 8, 2026
Bonny International Holding Ltd. has called an extraordinary general meeting for 26 May 2026 in Yiwu City to seek shareholder approval for a share purchase agreement to dispose of the entire issued shares of Hongkong Bonny Limited. The board is al...
Bonny International Plans Reappointment of Ernst & Young as Auditor
May 7, 2026
Bonny International Holding Ltd. has issued a supplemental announcement to its AGM circular detailing arrangements for its external audit. The board, following the audit committee’s recommendation, plans to seek shareholder approval to reapp...
Bonny International Sets May EGM and Book Closure for Key Disposal Vote
May 4, 2026
Bonny International Holding Ltd. has scheduled an extraordinary general meeting for 26 May 2026 in Yiwu City, Zhejiang Province, where shareholders will consider matters related to the proposed disposal of the entire issued shares of Hongkong Bonn...
Bonny International Delays Circular on Major Disposal of Hongkong Bonny Unit
Apr 27, 2026
Bonny International Holding Limited has postponed the despatch of a shareholder circular related to a very substantial disposal and connected transaction involving the sale of its entire equity interest in Hongkong Bonny Limited, as well as a post...
Bonny International Sets 2026 AGM to Renew Mandates and Share Issuance Authority
Apr 23, 2026
Bonny International Holding Limited has called its annual general meeting for 18 June 2026 in Yiwu City, Zhejiang Province, where shareholders will review the audited consolidated financial statements and directors’ and auditor’s repor...
Bonny International to Divest Loss-Making Brand Unit in Major Connected Deal
Apr 10, 2026
Bonny International Holding Ltd., a maker of seamless and traditional intimate wear that serves both OEM clients and Chinese retail consumers, has long relied on a dual model of original design manufacturing and branded sales under its “Bonn...
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.