Hands Form Holdings Limited (1920) AI Stock Analysis

• Market Cap: HK$155.38M
• Dividend Yield: N/A
• Average Volume (3M): 597.17K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.25
• Revenue Growth: 62.98%
• EPS Growth: 67.20%
• Country: HK
• Employees: 13
• Sector: Industrials
• Sector Strength: 72
• Industry: Engineering & Construction
• EPS (TTM): 0.00
• Shares Outstanding: 374,400,000
• 10 Day Avg. Volume: 796,900
• 30 Day Avg. Volume: 597,166
• PEG Ratio: 0.35
• Price to Book (P/B): 27.61
• Price to Sales (P/S): 2.47
• P/FCF Ratio: -76.53
• 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
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: HK$0.50 ▲(25.00% Upside)

The overall stock score is heavily impacted by the company's poor financial performance, with severe challenges in profitability and cash flow. Technical analysis provides mixed signals, while valuation metrics highlight ongoing financial difficulties. The absence of earnings call data and corporate events further limits positive factors.

Positive Factors

Revenue Growth

Strong revenue growth indicates the company's ability to expand its market presence and improve sales, which is crucial for long-term sustainability.

Earnings Growth

Significant earnings growth suggests effective cost management and operational efficiency, enhancing profitability potential over time.

Conservative Leverage

A low debt-to-equity ratio reflects conservative financial management, reducing risk and providing flexibility for future growth investments.

Negative Factors

Financial Instability

Ongoing financial instability with negative revenue and profitability trends poses risks to the company's long-term operational viability.

Cash Flow Concerns

Inability to generate positive cash flow from operations indicates liquidity challenges, potentially hindering investment and growth opportunities.

Declining Equity

Decreasing equity and assets suggest weakening financial health, which could impact the company's ability to secure financing and sustain operations.

Hands Form Holdings Limited Business Overview & Revenue Model

Company Description

Hands Form Holdings Limited, an investment holding company, operates as a subcontractor in Hong Kong. The company undertakes wet trades' works, including plastering on floors, walls, and ceilings; tile laying on internal and external walls and floors; brick laying; and laying of marble tiles to the floor. It also provides other wet trades related ancillary works, such as touch-ups, chiseling, smoothing, cleaning, applying sealant, washed granolithic screed, on-site logistics services, etc. The company primarily serves main contractors and subcontractors of various building construction projects; government customers; and property developers. Hands Form Holdings Limited was founded in 1989 and is headquartered in Jordan, Hong Kong.

How the Company Makes Money

Hands Form Holdings Limited generates revenue through multiple streams. The manufacturing and trading segment accounts for a significant portion of its income, as the company produces consumer goods that are sold both domestically and internationally. The real estate division contributes revenue through property sales, leasing, and management services, capitalizing on the growing demand for commercial and residential properties in Hong Kong. Key partnerships with suppliers and distributors enhance the company's market reach, while strategic investments in high-potential real estate projects provide additional cash flow and profit opportunities.

Hands Form Holdings Limited Financial Statement Overview

Summary

Hands Form Holdings Limited is experiencing severe financial challenges, as reflected in its income statement, balance sheet, and cash flow metrics. The company struggles with profitability and cash generation, raising concerns about its operational sustainability and financial health.

Income Statement

The company has faced a significant decline in revenue, with a negative growth trend from 2019 to 2024. Profitability metrics such as gross profit margin and net profit margin are negative, indicating operational challenges. Consistent losses and decreasing revenue highlight financial instability.

Balance Sheet

The company maintains a relatively low debt-to-equity ratio, indicating conservative leverage. However, the declining stockholders' equity and total assets suggest a weakening financial position. The equity ratio has decreased, pointing to potential risks in financial stability.

Cash Flow

Cash flow metrics are concerning, with negative operating cash flow and free cash flow in most years. The inability to generate positive cash flow from operations poses liquidity risks. Lack of free cash flow growth indicates financial strain.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	136.64M	109.95M	86.70M	122.52M	117.46M	304.96M
Gross Profit	9.08M	-12.88M	-21.49M	-28.63M	-63.46M	3.80M
EBITDA	-15.71M	-40.66M	-48.63M	-53.79M	-81.00M	9.22M
Net Income	-17.75M	-43.34M	-51.62M	-56.20M	-83.19M	7.37M
Balance Sheet
Total Assets	56.48M	42.26M	71.76M	123.94M	191.25M	253.52M
Cash, Cash Equivalents and Short-Term Investments	23.13M	10.54M	18.60M	14.01M	9.56M	5.95M
Total Debt	14.45M	5.31M	9.62M	9.70M	16.28M	17.81M
Total Liabilities	32.33M	32.43M	18.59M	19.15M	45.63M	24.71M
Stockholders Equity	24.15M	9.83M	53.17M	104.79M	145.62M	228.81M
Cash Flow
Free Cash Flow	10.55M	-3.55M	-197.00K	-13.15M	8.50M	-27.71M
Operating Cash Flow	10.55M	-3.55M	-197.00K	-5.40M	8.50M	-27.71M
Investing Cash Flow	0.00	16.00K	5.21M	1.32M	-3.00M	-4.69M
Financing Cash Flow	0.00	-4.53M	-414.00K	8.52M	-1.88M	13.65M

Hands Form Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.40
• 50DMA: Positive
• 100DMA: Positive
• 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:1920, the sentiment is Positive. The current price of 0.4 is below the 20-day moving average (MA) of 0.40, below the 50-day MA of 0.40, and below the 200-day MA of 0.43, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 55.49 is Neutral, neither overbought nor oversold. The STOCH value of 52.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1920.

Hands Form Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
1793	54 Neutral	HK$176.00M	20.18	3.17%	5.63%	-9.62%	-2.68%
2221	48 Neutral	HK$202.87M	-1.98	-23.21%	―	38.15%	-1533.02%
1920	44 Neutral	HK$155.38M	-7.29	-68.45%	―	62.98%	67.20%

Hands Form Holdings Limited Corporate Events

China Wacan Further Delays Dispatch of Circular on Share Subscription

China Wacan Group Company Limited, a Cayman Islands-incorporated company listed in Hong Kong, has announced a further delay in sending a shareholder circular related to a subscription agreement and a proposed specific mandate to issue subscription shares. The company now expects to dispatch the circular on or before 28 January 2026, later than the previously indicated date of 1 December 2025, citing the need for additional time to prepare and finalise information, a development that may extend the timeline for shareholders’ review and approval of the contemplated transactions.

The most recent analyst rating on (HK:1920) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Hands Form Holdings Limited stock, see the HK:1920 Stock Forecast page.

China Wacan Group Announces Auditor Change to Enhance Audit Efficiency

China Wacan Group Company Limited, a company listed on the Hong Kong Stock Exchange, announced a change in its auditing firm. Wilson & Partners CPA Limited resigned due to a disagreement over audit fees, and HLB Hodgson Impey Cheng Limited has been appointed as the new auditor. The Board believes this change will enhance the cost-effectiveness and efficiency of the company’s annual audit process, benefiting the company and its shareholders.

The most recent analyst rating on (HK:1920) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Hands Form Holdings Limited stock, see the HK:1920 Stock Forecast page.

China Wacan Group Delays Circular Dispatch for Subscription Agreement

China Wacan Group Company Limited has announced a delay in the dispatch of a circular related to its Subscription Agreement and associated transactions. Initially expected by December 1, 2025, the circular will now be dispatched by December 29, 2025, due to the need for additional time to finalize certain information.

The most recent analyst rating on (HK:1920) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Hands Form Holdings Limited stock, see the HK:1920 Stock Forecast page.

China Wacan Group Proposes Share Capital Increase and New Share Scheme

China Wacan Group Company Limited, incorporated in the Cayman Islands, has announced a proposal to increase its authorized share capital from HK$40,000,000 to HK$120,000,000. This move aims to provide greater flexibility for future business growth and requires shareholder approval at an Extraordinary General Meeting (EGM). Additionally, the company plans to adopt a new share scheme in line with recent amendments to Chapter 17 of the Listing Rules, which will replace the 2019 Share Option Scheme. This change is also subject to shareholder approval at the EGM.

The most recent analyst rating on (HK:1920) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Hands Form Holdings Limited stock, see the HK:1920 Stock Forecast page.

Hands Form Holdings Announces Share Subscription Agreement with Major Shareholder

Hands Form Holdings Limited has entered into a Subscription Agreement with its controlling shareholder, China Wacan Group Company Limited, to issue 112,320,000 new shares at a price of HK$0.3965 per share, raising approximately HK$44.5 million. This transaction, which constitutes a connected transaction under Hong Kong’s Listing Rules, will increase the company’s issued share capital by about 23.08% and is subject to approval at an Extraordinary General Meeting.

The most recent analyst rating on (HK:1920) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Hands Form Holdings Limited stock, see the HK:1920 Stock Forecast page.

China Wacan Group Secures New Office Lease in Hong Kong

China Wacan Group Company Limited has entered into a lease agreement to rent a new office space in Hong Kong for its principal place of business. The lease, which begins on April 16, 2025, is for a term of three years at a monthly rental fee of HK$332,541. This transaction is classified as a discloseable transaction under the Listing Rules, as it exceeds 5% but is less than 25% of the applicable percentage ratios. Due to an inadvertent misunderstanding, the agreement was not announced in a timely manner.

The most recent analyst rating on (HK:1920) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Hands Form Holdings Limited stock, see the HK:1920 Stock Forecast page.