Hands Form Holdings Limited (HK:1920)
:1920
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Hands Form Holdings Limited
(1920)
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Rating:42Neutral
Price Target:
HK$0.64
▲(60.75% Upside)
Action:Reiterated
Date:05/11/26
The score is held down primarily by weak financial performance (continued losses, uneven revenue, and an eroded equity base) and bearish technical momentum (below key moving averages with negative MACD). A solid 2025 cash-flow improvement provides some support, but negative earnings and lack of dividend/yield support limit the valuation profile.
Positive Factors
Improved cash generation
The company delivered materially positive operating cash flow (12.6M) and free cash flow (10.4M) in 2025, a sharp turnaround versus prior negative years. Durable positive FCF, if sustained, strengthens liquidity, funds capex/debt servicing, and reduces reliance on external financing over months.
Negative Factors
Still loss-making
Despite improvement, the company remains loss-making with negative operating and net margins (net margin ~-8.1% in 2025). Continued losses constrain retained earnings, limit reinvestment capacity, and require sustained margin recovery before earnings become a reliable source of capital over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved cash generation
The company delivered materially positive operating cash flow (12.6M) and free cash flow (10.4M) in 2025, a sharp turnaround versus prior negative years. Durable positive FCF, if sustained, strengthens liquidity, funds capex/debt servicing, and reduces reliance on external financing over months.
Read all positive factors
Hands Form Holdings Limited (1920) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$343.52M
Dividend YieldN/A
Average Volume (3M)597.17K
Price to Earnings (P/E)―
Beta (1Y)0.40
Revenue Growth13.64%
EPS Growth80.63%
CountryHK
Employees13
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)-0.06
Shares Outstanding512,720,000
10 Day Avg. Volume796,900
30 Day Avg. Volume597,166
Financial Highlights & Ratios
PEG Ratio0.18
Price to Book (P/B)7.67
Price to Sales (P/S)1.14
P/FCF Ratio13.70
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
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 flo...
Hands Form Holdings Limited Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
38
Negative
Cash Flow
45
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 136.64M | 124.94M | 109.95M | 86.70M | 122.52M | 117.46M |
| Gross Profit | 9.08M | 9.61M | -12.88M | -21.49M | -28.63M | -63.46M |
| EBITDA | -15.71M | -9.90M | -40.66M | -48.63M | -53.79M | -81.00M |
| Net Income | -17.75M | -10.09M | -43.34M | -51.62M | -56.20M | -83.19M |
Balance Sheet | ||||||
| Total Assets | 56.48M | 62.80M | 42.26M | 71.76M | 123.94M | 191.25M |
| Cash, Cash Equivalents and Short-Term Investments | 23.13M | 31.12M | 10.54M | 18.60M | 14.01M | 9.56M |
| Total Debt | 14.45M | 8.09M | 5.31M | 9.62M | 9.70M | 16.28M |
| Total Liabilities | 32.33M | 48.60M | 32.43M | 18.59M | 19.15M | 45.63M |
| Stockholders Equity | 24.15M | 18.65M | 9.83M | 53.17M | 104.79M | 145.62M |
Cash Flow | ||||||
| Free Cash Flow | 10.55M | 10.44M | -3.55M | -197.00K | -13.15M | 8.50M |
| Operating Cash Flow | 10.55M | 12.58M | -3.55M | -197.00K | -5.40M | 8.50M |
| Investing Cash Flow | 0.00 | -2.14M | 16.00K | 5.21M | 1.32M | -3.00M |
| Financing Cash Flow | 0.00 | 9.55M | -4.53M | -414.00K | 8.52M | -1.88M |
Hands Form Holdings Limited Technical Analysis
Negative
0.40
Price Trends
0.95
Negative
0.79
Negative
0.61
Positive
Market Momentum
-0.09
Positive
33.43
Neutral
12.70
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1920, the sentiment is Negative. The current price of 0.4 is below the 20-day moving average (MA) of 0.81, below the 50-day MA of 0.95, and below the 200-day MA of 0.61, indicating a neutral trend. The MACD of -0.09 indicates Positive momentum. The RSI at 33.43 is Neutral, neither overbought nor oversold. The STOCH value of 12.70 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1920.
Hands Form Holdings Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
55 Neutral | HK$216.00M | 6.09 | 3.15% | 5.63% | -9.62% | -2.68% | |
43 Neutral | HK$199.49M | -2.28 | -25.76% | ― | 38.15% | -1533.02% | |
42 Neutral | HK$343.52M | -14.18 | -45.47% | ― | 13.64% | 80.63% |
* Industrials Sector Average
HK:1920
Hands Form Holdings Limited
0.67
0.27
65.43%
HK:1615
AB Builders Group Limited
0.38
0.15
64.47%
HK:1793
Wecon Holdings Ltd.
0.27
0.12
78.81%
HK:2221
New Concepts Holdings Ltd
0.87
0.52
148.57%
HK:2266
Lai Si Enterprise Holding Ltd.
0.39
0.10
37.50%
HK:0589
Jianzhong Construction Development Limited
0.19
0.00
0.00%
Hands Form Holdings Limited Corporate Events
China Wacan Shareholders Approve Corporate Name Change to Junwea Group (China)
Apr 29, 2026
China Wacan Group Company Limited, a Cayman Islands–incorporated issuer listed in Hong Kong, maintains a standard governance structure with three executive and three independent non-executive directors overseeing more than 509 million issued...
China Wacan Calls EGM to Approve Junwea Group (China) Name Change
Apr 14, 2026
China Wacan Group Company Limited has called an extraordinary general meeting for 29 April 2026 in Shenzhen to seek shareholder approval for a change of its English name to Junwea Group (China) Company Limited and adoption of a new Chinese name. T...
China Wacan Completes Connected Share Subscription, Chairman Tightens Control
Apr 14, 2026
China Wacan Group Company Limited has completed a connected transaction involving the subscription and issue of 112,320,000 new shares under a specific mandate, following the fulfillment of all conditions in the subscription agreement. The new sha...
China Wacan Plans Rebrand to JUNWEA Group to Reflect Core Services
Apr 1, 2026
China Wacan Group Company Limited plans to change its English name to JUNWEA Group (China) Company Limited and adopt a new Chinese name, aligning its branding more closely with its beauty and health services and construction services businesses. T...
China Wacan Narrows Annual Loss as Revenue Rises and Impairments Reverse
Mar 31, 2026
China Wacan Group Company Limited reported a marked improvement in operating performance for the year ended 31 December 2025, as revenue rose to HK$124.9 million from HK$110.0 million and gross profit swung to HK$10.0 million from a gross loss a y...
China Wacan Schedules Board Meeting to Approve 2025 Results and Consider Final Dividend
Mar 13, 2026
China Wacan Group Company Limited has scheduled a board meeting for 31 March 2026 to review and approve the annual results for the year ended 31 December 2025 and to consider their release to the market. The board will also deliberate on the poten...
China Wacan Wins Shareholder Backing for Capital Expansion and Option Grant
Feb 26, 2026
China Wacan Group Company Limited reported that all resolutions at its extraordinary general meeting on 26 February 2026 were approved by shareholders through poll voting. The company secured mandates for a new subscription of shares, the grant of...
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.