CPM Group Ltd. (HK:1932)
:1932
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CPM Group Ltd.
(1932)
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Rating:45Neutral
Price Target:
HK$0.23
▲(62.14% Upside)
Action:Reiterated
Date:05/16/26
The score is primarily constrained by weak financial performance—sharp revenue contraction, continued losses, and recently negative/unstable cash flow—despite improved gross margin and manageable headline leverage. Technicals add a modest additional drag with the stock trading below key short-term moving averages and subdued momentum. Valuation is largely neutral because the negative P/E (loss-making) and lack of dividend yield data limit clear valuation support.
Positive Factors
Improved gross margin
Gross margin expansion to ~41.7% suggests meaningful improvement in pricing, product mix, or cost control. Sustained higher gross margins provide a durable profitability buffer, improving the company's ability to cover fixed costs and absorb input cost volatility during a multi‑quarter recovery.
Negative Factors
Severe revenue contraction
A collapse in revenue from 842.5M to 241.1M represents a structural loss of scale and/or demand. Reduced top-line volume impairs fixed-cost absorption, diminishes bargaining power with suppliers and customers, and materially increases the difficulty of restoring sustainable operating profitability over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved gross margin
Gross margin expansion to ~41.7% suggests meaningful improvement in pricing, product mix, or cost control. Sustained higher gross margins provide a durable profitability buffer, improving the company's ability to cover fixed costs and absorb input cost volatility during a multi‑quarter recovery.
Read all positive factors
CPM Group Ltd. (1932) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$246.00M
Dividend YieldN/A
Average Volume (3M)2.13K
Price to Earnings (P/E)―
Beta (1Y)0.26
Revenue Growth-24.98%
EPS Growth3.97%
CountryHK
Employees441
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)-0.05
Shares Outstanding1,000,000,000
10 Day Avg. Volume400
30 Day Avg. Volume2,133
Financial Highlights & Ratios
PEG Ratio0.79
Price to Book (P/B)0.41
Price to Sales (P/S)0.60
P/FCF Ratio-49.03
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
CPM Group Ltd. Business Overview & Revenue Model
Company Description
CPM Group Limited, an investment holding company, manufactures and sells paint and coating products in Hong Kong and Mainland China. The company offers industrial paint and coating products used in furniture painting, and manufacturing and surface...
CPM Group Ltd. Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
46
Neutral
Cash Flow
21
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 241.09M | 321.35M | 469.09M | 643.05M | 842.52M |
| Gross Profit | 100.58M | 129.32M | 157.54M | 142.53M | 170.72M |
| EBITDA | -16.46M | -20.94M | -32.99M | -58.15M | -25.22M |
| Net Income | -45.98M | -47.91M | -67.11M | -98.47M | -59.45M |
Balance Sheet | |||||
| Total Assets | 706.67M | 804.00M | 972.86M | 1.15B | 1.20B |
| Cash, Cash Equivalents and Short-Term Investments | 158.29M | 191.46M | 144.94M | 147.52M | 256.43M |
| Total Debt | 215.71M | 205.35M | 222.99M | 246.00M | 219.55M |
| Total Liabilities | 349.52M | 422.93M | 524.22M | 631.89M | 670.37M |
| Stockholders Equity | 353.06M | 377.09M | 444.46M | 518.07M | 529.58M |
Cash Flow | |||||
| Free Cash Flow | -2.94M | -24.09M | 79.65M | -58.87M | 2.52M |
| Operating Cash Flow | -1.31M | -23.36M | 83.64M | -37.13M | 20.75M |
| Investing Cash Flow | 8.88M | 76.28M | -59.79M | -18.50M | -51.92M |
| Financing Cash Flow | -39.90M | -21.09M | -24.66M | 18.05M | -13.23M |
CPM Group Ltd. Technical Analysis
Neutral
0.14
Price Trends
0.26
Negative
0.24
Positive
0.19
Positive
Market Momentum
>-0.01
Positive
46.88
Neutral
8.61
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1932, the sentiment is Neutral. The current price of 0.14 is below the 20-day moving average (MA) of 0.28, below the 50-day MA of 0.26, and below the 200-day MA of 0.19, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 46.88 is Neutral, neither overbought nor oversold. The STOCH value of 8.61 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:1932.
CPM Group Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | HK$345.60M | 9.51 | 6.51% | 2.00% | 12.06% | 12.03% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | HK$118.14M | 15.57 | 1.90% | ― | -0.05% | ― | |
51 Neutral | HK$851.53M | -7.57 | -15.41% | ― | -0.05% | -54.13% | |
47 Neutral | HK$91.44M | -2.57 | 0.39% | ― | 5.95% | -92.48% | |
45 Neutral | HK$246.00M | -2.14 | -12.85% | ― | -24.98% | 3.97% | |
40 Underperform | HK$218.92M | -2.79 | -8.30% | ― | -22.60% | 28.57% |
* Basic Materials Sector Average
HK:1932
CPM Group Ltd.
0.25
0.04
18.57%
HK:0701
CNT Group Limited
0.11
-0.11
-50.45%
HK:1047
Ngai Hing Hong Co. Ltd.
0.33
<0.01
1.56%
HK:1950
Diwang Industrial Holdings Limited
0.13
-0.04
-25.29%
HK:2116
Jiangsu Innovative Ecological New Materials Ltd.
0.72
0.26
56.52%
HK:0301
SANVO Fine Chemicals Group Limited
1.79
0.59
49.17%
CPM Group Ltd. Corporate Events
CNT and CPM Delay Dispatch of Takeover Composite Documents
May 12, 2026
CNT Group and CPM Group have announced delays in sending key composite documents related to ongoing takeover offers, citing the need for additional time to prepare and finalise required information, including an independent financial adviser’...
CPM Group Sets 2026 AGM to Approve Accounts, Board Changes and Share Mandate
Apr 24, 2026
CPM Group Limited has called its annual general meeting for 4 June 2026 in Hong Kong, where shareholders will review the audited consolidated financial statements and reports for the year ended 31 December 2025, and vote on the re-election of one ...
Prime Surplus, SHK Hong Kong Trigger Mandatory Offer for CNT After Stake Increase
Apr 21, 2026
Prime Surplus Limited and SHK Hong Kong Industries Limited have triggered a mandatory conditional cash offer for CNT Group Limited after Prime Surplus acquired an additional 4.66% stake at HK$0.10 per share, lifting their combined interest to abou...
CPM Group Requests Trading Halt Ahead of Possible Takeover Announcement
Apr 13, 2026
CPM Group Limited has requested a halt in trading of its shares on the Main Board of the Hong Kong Stock Exchange, effective from 9:00 a.m. on 13 April 2026. The suspension comes as the company prepares to issue an announcement regarding a possibl...
CPM Group Sets March Board Meeting to Approve 2025 Results and Mull Final Dividend
Mar 17, 2026
CPM Group Limited has scheduled a board meeting for 27 March 2026 to review and approve the annual results for the year ended 31 December 2025, covering the performance of the company and its subsidiaries. The board will also consider the declarat...
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.