Dalipal Holdings Limited (1921) AI Stock Analysis

• Market Cap: HK$9.72B
• Dividend Yield: N/A
• Average Volume (3M): 1.46M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.26
• Revenue Growth: 4.66%
• EPS Growth: -432.65%
• Country: HK
• Employees: 1,795
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Equipment & Services
• EPS (TTM): -0.01
• Shares Outstanding: 1,506,468,000
• 10 Day Avg. Volume: 1,104,440
• 30 Day Avg. Volume: 1,460,213
• PEG Ratio: 1.02
• Price to Book (P/B): 9.43
• Price to Sales (P/S): 3.77
• P/FCF Ratio: -39.01
• 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: 43 Neutral
• Price Target: HK$6.00 ▼(-19.25% Downside)

Overall score is constrained primarily by weak financial performance, including revenue decline, net losses, and severe cash flow deterioration (no operating cash flow in 2024). Technicals add modest additional pressure as the stock trades below key moving averages with low RSI, while valuation is also unfavorable due to loss-driven negative P/E and no dividend yield data.

Positive Factors

Diversified business model

Operating across manufacturing, real estate and trading gives durable revenue diversification, reducing reliance on any single cyclical market. This structural mix supports resilience over 2-6 months by allowing capital and management focus to shift toward stronger segments as conditions change.

Strategic supplier and distributor partnerships

Established partnerships broaden distribution channels and secure supply, lowering go-to-market friction and unit costs. These relationships are structural advantages that help sustain sales and margins over time and can support quicker recovery in revenue following industry slowdowns.

Established exposure to electronics and building-materials markets

Manufacturing electronic components and building materials gives exposure to multiple end markets (consumer electronics, telecom, construction). Such industrial end-markets provide enduring demand drivers and potential for long-term supply agreements, supporting stable baseline revenue.

Negative Factors

Operating cash flow collapse in 2024

No operating cash flow in 2024 is a critical structural weakness: it undermines the company’s ability to fund working capital, capex and debt service internally. Over months this forces reliance on external financing, increasing liquidity risk and reducing strategic flexibility.

Net loss and deteriorating margins

Sustained net losses and shrinking gross/EBITDA margins erode equity and limit reinvestment capacity. Persisting margin pressure weakens competitiveness and profitability prospects over 2-6 months, making recovery harder without structural cost or pricing improvements.

Moderately leveraged balance sheet

A relatively high debt load combined with negative cash flow elevates default and refinancing risk and constrains capital allocation. Over the medium term, leverage limits ability to fund growth or weather downturns and increases sensitivity to interest and credit-market shifts.

Dalipal Holdings Limited Business Overview & Revenue Model

Company Description

Dalipal Holdings Limited, an investment holding company, develops, manufactures, and sells oil country tubular goods, other oil pipes, and pipe billets in the People's Republic of China and internationally. The company was founded in 1998 and is headquartered in Cangzhou, the People's Republic of China.

How the Company Makes Money

Dalipal Holdings Limited generates revenue through multiple key streams. The company earns a significant portion of its income from the manufacturing and sale of electronic components, which are supplied to various industries, including consumer electronics and telecommunications. Additionally, Dalipal's real estate segment contributes to its earnings through property development projects and rental income from commercial and residential properties. The company also engages in trading activities, where it imports and distributes various products. Strategic partnerships with suppliers and distributors enhance its market reach and operational capabilities, contributing to consistent revenue growth. Overall, Dalipal's diversified portfolio allows it to mitigate risks and capitalize on emerging market opportunities.

Dalipal Holdings Limited Financial Statement Overview

Summary

Dalipal Holdings Limited is facing challenges with declining revenues and profitability. The company's leverage is a concern, and cash flow issues need urgent attention. Stability in equity is a positive aspect, but the negative trends in income and cash flow highlight the need for strategic improvements.

Income Statement

Dalipal Holdings Limited shows a declining revenue trend, with a significant drop in total revenue from 2022 to 2024. The company reported negative net income in 2024, indicating a net loss. Gross profit margin has decreased over the years, and the EBIT and EBITDA margins have also diminished, reflecting declining profitability.

Balance Sheet

The debt-to-equity ratio indicates a moderately leveraged position, with total debt remaining high relative to stockholders' equity. Return on equity has been negative in 2024 due to net losses, which is concerning. The equity ratio is steady, but the overall financial health shows some strain due to ongoing liabilities and declining equity.

Cash Flow

Operating cash flow has significantly deteriorated, with a complete absence of operating cash flow in 2024. The free cash flow has been negative in recent years, showing potential liquidity issues. The company needs to address cash flow generation to stabilize its financial position.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.60B	3.29B	3.85B	4.23B	3.76B	2.26B
Gross Profit	215.27M	263.36M	528.18M	610.93M	417.51M	104.40M
EBITDA	136.11M	133.26M	368.23M	396.66M	322.36M	65.85M
Net Income	-14.87M	-77.07M	134.52M	151.58M	82.94M	-116.42M
Balance Sheet
Total Assets	4.74B	4.51B	4.13B	4.19B	4.75B	3.69B
Cash, Cash Equivalents and Short-Term Investments	355.49M	412.14M	432.59M	464.89M	551.61M	416.17M
Total Debt	2.53B	2.22B	1.78B	1.95B	2.47B	1.92B
Total Liabilities	3.44B	3.19B	2.67B	2.78B	3.40B	2.43B
Stockholders Equity	1.30B	1.32B	1.46B	1.40B	1.35B	1.26B
Cash Flow
Free Cash Flow	-56.35M	-318.04M	308.24M	681.20M	-370.97M	270.18M
Operating Cash Flow	32.99M	10.92M	434.97M	764.14M	-286.31M	376.30M
Investing Cash Flow	-73.61M	-292.54M	-147.98M	-79.10M	-26.33M	-100.94M
Financing Cash Flow	50.62M	271.89M	-318.36M	-739.51M	431.50M	-533.62M

Dalipal Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 7.43
• 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:1921, the sentiment is Negative. The current price of 7.43 is above the 20-day moving average (MA) of 7.43, above the 50-day MA of 6.88, and above the 200-day MA of 6.66, indicating a bearish trend. The MACD of 0.15 indicates Positive momentum. The RSI at 34.29 is Neutral, neither overbought nor oversold. The STOCH value of 77.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1921.

Dalipal Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2883	77 Outperform	HK$65.95B	10.01	8.58%	3.59%	2.58%	7.10%
3337	68 Neutral	HK$2.28B	6.88	8.78%	3.59%	10.16%	49.48%
3303	66 Neutral	HK$1.11B	16.15	2.87%	2.83%	-59.96%	-83.53%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
0568	50 Neutral	HK$6.40B	-29.57	-20.65%	―	17.21%	59.09%
1623	48 Neutral	HK$339.29M	-0.93	-11.09%	―	-2.11%	-779.00%
1921	43 Neutral	HK$9.72B	-381.60	-1.68%	―	4.66%	-432.65%

Dalipal Holdings Limited Corporate Events

Dalipal Sells 40% of Saudi Subsidiary and Commits Up to USD144 Million to Dammam Expansion

Dalipal Holdings Limited has agreed to sell a 40% stake in its Saudi Arabian subsidiary, Dalipal International, to independent third party Zumar for SAR3.0 million, reducing its holding in the unit to 60% as it advances a major project in Dammam. Under a new shareholders’ agreement, Dalipal and Zumar plan to increase Dalipal International’s share capital to between USD150 million and USD240 million, with Dalipal contributing up to USD144 million, to help fund the first phase of a USD600 million project to build R&D and intelligent manufacturing facilities with a designed production capacity of 1.1 million tons per year, with the remaining financing to come from debt, shareholder loans or additional cash contributions; the deal is classified as a discloseable transaction under Hong Kong listing rules, underscoring the project’s materiality for the group’s Middle East expansion strategy.

The most recent analyst rating on (HK:1921) stock is a Sell with a HK$6.00 price target. To see the full list of analyst forecasts on Dalipal Holdings Limited stock, see the HK:1921 Stock Forecast page.

Dalipal Requests Trading Halt Ahead of Inside-Information Transaction Announcement

Dalipal Holdings Limited has requested a halt in trading of its shares on the Hong Kong Stock Exchange, effective from 9:00 a.m. on 12 January 2026, pending the publication of an announcement regarding a discloseable transaction that qualifies as inside information. The trading suspension signals that a potentially significant corporate transaction is underway, which could materially affect the company’s valuation and is of interest to investors and other stakeholders once full details are released.

The most recent analyst rating on (HK:1921) stock is a Hold with a HK$6.50 price target. To see the full list of analyst forecasts on Dalipal Holdings Limited stock, see the HK:1921 Stock Forecast page.

Dalipal Nears Qualified Supplier Status with Aramco, Bolstering Middle East Strategy

Dalipal Holdings Limited announced that its products have successfully completed a trial order for Saudi Arabian Oil Company (Aramco), meeting all test indicators and moving into the final internal procedures for supplier qualification, after which Dalipal will be officially recognized as a qualified Aramco supplier. The company said this milestone is strategically significant as it paves the way for long-term cooperation with Aramco, supports sales growth and market share expansion in the Middle East, validates its R&D and manufacturing standards for entry into core regional energy markets, and complements its plan to establish a production base in Dammam to enable localized production and supply, improve supply chain efficiency, reduce costs, and strengthen its competitive position in the region.

The most recent analyst rating on (HK:1921) stock is a Hold with a HK$6.50 price target. To see the full list of analyst forecasts on Dalipal Holdings Limited stock, see the HK:1921 Stock Forecast page.

Dalipal Wins Key Saudi Licenses for Energy Equipment Project Under Vision 2030

Dalipal Holdings Limited has secured an Initial Industrial License from Saudi Arabia’s Ministry of Industry and Mineral Resources for its wholly owned subsidiary Dalipal International for Industry, a key regulatory milestone that grants administrative approval to construct an energy equipment manufacturing project in the kingdom and positions the group within the framework of Saudi Vision 2030. The project has also received a 60-megawatt power allocation from the Saudi Ministry of Energy, clearing a critical infrastructure requirement for high-consumption industrial operations and enabling Dalipal to move ahead with engineering and construction work, with further scheduling details to be disclosed as the project progresses.

The most recent analyst rating on (HK:1921) stock is a Hold with a HK$6.50 price target. To see the full list of analyst forecasts on Dalipal Holdings Limited stock, see the HK:1921 Stock Forecast page.

Dalipal Holdings Updates CEO Compensation Details

Dalipal Holdings Limited has issued a supplemental announcement regarding the emoluments of its former CEO, Mr. Bai Gongli, for the years 2019 to 2022. This update provides detailed information on his compensation, including salaries, benefits, and share-based payments, reflecting the company’s transparency in financial disclosures.

The most recent analyst rating on (HK:1921) stock is a Hold with a HK$6.50 price target. To see the full list of analyst forecasts on Dalipal Holdings Limited stock, see the HK:1921 Stock Forecast page.

Dalipal Holdings Commissions New Intelligent Production Line

Dalipal Holdings Limited has commissioned a new ‘Intelligent Production Line for High-End Energy Equipment Piping’ at its production base in Cangzhou, Hebei Province, China. This development is expected to enhance production efficiency, optimize cost structures, improve product quality, and support the company’s project in Saudi Arabia. The move marks a significant step in Dalipal’s efforts towards intelligent manufacturing and capacity upgrading, aiming to deliver higher quality products and create sustainable value for shareholders.

The most recent analyst rating on (HK:1921) stock is a Hold with a HK$6.50 price target. To see the full list of analyst forecasts on Dalipal Holdings Limited stock, see the HK:1921 Stock Forecast page.