Tokyo Chuo Auction Holdings Ltd. (1939) AI Stock Analysis

• Market Cap: HK$4.19B
• Dividend Yield: N/A
• Average Volume (3M): 3.57M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.19
• Revenue Growth: 7.26%
• EPS Growth: 27.70%
• Country: HK
• Employees: 36
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Specialty Retail
• EPS (TTM): -0.04
• Shares Outstanding: 500,000,000
• 10 Day Avg. Volume: 2,781,310
• 30 Day Avg. Volume: 3,570,523
• PEG Ratio: 0.43
• Price to Book (P/B): 1.04
• Price to Sales (P/S): 3.71
• P/FCF Ratio: 6.21
• 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: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 45 Neutral
• Price Target: HK$7.50 ▲(0.00% Upside)

The overall stock score is primarily impacted by the company's financial performance and technical analysis. While there is some revenue growth and improved cash flow, profitability issues and bearish technical indicators weigh heavily on the score. The negative P/E ratio and lack of dividend yield further contribute to a low valuation score.

Tokyo Chuo Auction Holdings Ltd. Business Overview & Revenue Model

Company Description

Tokyo Chuo Auction Holdings Ltd. (1939) is a prominent auction house based in Japan, specializing in the sale of fine art, antiques, and collectibles. The company operates in the auction sector, offering a platform for both buyers and sellers to engage in the trading of valuable items. With a strong reputation for curating high-quality auctions, Tokyo Chuo Auction Holdings provides services that include appraisals, cataloging, and marketing of items, as well as hosting live and online auction events.

How the Company Makes Money

Tokyo Chuo Auction Holdings generates revenue primarily through commissions earned on sales during its auctions. When an item is sold, the company charges a seller's commission, which is a percentage of the final sale price, as well as a buyer's premium, an additional fee charged to the buyer on top of the winning bid. These commission structures provide a significant portion of the company's income. Additionally, the company may earn revenue through specialized appraisal services and consultations for high-value items. Partnerships with museums, galleries, and art institutions enhance its credibility and expand its client base, contributing to increased sales and auction participation.

Tokyo Chuo Auction Holdings Ltd. Financial Statement Overview

Summary

The company shows mixed financial performance. Revenue growth is positive, but profitability is a concern with negative net profit and EBIT margins. The balance sheet is stable with low leverage, but cash flow improvements are needed for stronger financial health.

Income Statement

The company shows a mixed performance in its income statement. Revenue growth is positive at 7.82% for the latest period, indicating some recovery. However, the company is struggling with profitability, as evidenced by negative net profit and EBIT margins. The gross profit margin remains strong at 78.14%, but the negative EBIT and net profit margins highlight ongoing operational challenges.

Balance Sheet

The balance sheet reflects a stable financial position with a manageable debt-to-equity ratio of 0.20, indicating low leverage. However, the return on equity is negative, suggesting inefficiencies in generating returns from equity. The equity ratio is healthy, showing a strong equity base relative to total assets.

Cash Flow

Cash flow analysis reveals a significant improvement in operating cash flow, turning positive in the latest period. However, free cash flow growth is negative, and the free cash flow to net income ratio is close to 1, indicating that cash generation is not yet robust. The operating cash flow to net income ratio is also positive, showing some improvement in cash conversion.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	57.55M	62.05M	57.85M	72.76M	79.60M	80.75M
Gross Profit	44.23M	48.48M	46.78M	53.32M	68.97M	70.02M
EBITDA	-26.07M	-11.68M	-18.60M	-541.00K	22.26M	23.52M
Net Income	-29.64M	-19.46M	-26.89M	-8.29M	8.43M	8.36M
Balance Sheet
Total Assets	432.27M	394.96M	396.64M	466.00M	581.08M	594.65M
Cash, Cash Equivalents and Short-Term Investments	73.77M	76.46M	69.05M	67.28M	108.70M	153.63M
Total Debt	49.44M	43.80M	52.25M	53.44M	68.99M	85.47M
Total Liabilities	189.66M	170.38M	157.69M	202.91M	297.06M	308.19M
Stockholders Equity	239.10M	221.30M	235.64M	259.32M	279.94M	282.24M
Cash Flow
Free Cash Flow	-32.55M	37.05M	-10.93M	-17.25M	-24.19M	51.60M
Operating Cash Flow	-30.09M	37.16M	-6.16M	-16.52M	-23.29M	60.79M
Investing Cash Flow	-2.24M	590.00K	-4.55M	-549.00K	1.69M	-7.36M
Financing Cash Flow	577.00K	-9.56M	-6.88M	-18.65M	-18.74M	20.01M

Tokyo Chuo Auction Holdings Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 7.50
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1939, the sentiment is Negative. The current price of 7.5 is below the 20-day moving average (MA) of 8.32, below the 50-day MA of 8.25, and above the 200-day MA of 4.35, indicating a neutral trend. The MACD of -0.30 indicates Positive momentum. The RSI at 29.10 is Positive, neither overbought nor oversold. The STOCH value of 16.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1939.

Tokyo Chuo Auction Holdings Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
1861	79 Outperform	HK$388.30M	6.18	17.60%	3.05%	17.38%	15.93%
2101	64 Neutral	HK$670.17M	45.05	1.04%	―	-36.58%	-84.25%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
1572	54 Neutral	HK$169.05M	-250.00	-0.06%	―	-14.12%	-104.76%
1759	52 Neutral	HK$231.12M	-18.20	-3.11%	―	50.72%	-434.09%
1939	45 Neutral	HK$4.19B	-215.42	-8.52%	―	7.26%	27.70%
0620	39 Underperform	HK$552.71M	-17.34	-3.08%	―	-33.28%	91.18%

Tokyo Chuo Auction Holdings Ltd. Corporate Events

Shangshan Gold Adjusts Share Placement Terms Amid Market Conditions

Shangshan Gold International Holdings Limited has announced a supplemental agreement to its previous placing agreement, which involves the issuance of new shares under a general mandate. The company has extended the long stop date to fulfill conditions precedent to November 10, 2025, reduced the number of placing shares from 37,825,421 to 11,880,000, and adjusted the placing price to HK$7.71 per share. These changes reflect the company’s response to prevailing market conditions and aim to optimize the share placement process, potentially impacting its market positioning and stakeholder interests.

The most recent analyst rating on (HK:1939) stock is a Hold with a HK$10.50 price target. To see the full list of analyst forecasts on Tokyo Chuo Auction Holdings Ltd. stock, see the HK:1939 Stock Forecast page.

Tokyo Chuo Auction Holdings Announces New Share Placement

Tokyo Chuo Auction Holdings Ltd., incorporated in Hong Kong, has announced the placement of new shares under a general mandate. The company has entered into an agreement with a placing agent to issue up to 37,825,421 shares at a price of HK$6.53 per share, representing approximately 7.57% of the total issued shares. The gross proceeds from this placement are expected to be around HK$247 million, with net proceeds estimated at HK$245.8 million. This strategic move aims to strengthen the company’s financial position, although the completion of the placement is subject to certain conditions.

The most recent analyst rating on (HK:1939) stock is a Hold with a HK$6.50 price target. To see the full list of analyst forecasts on Tokyo Chuo Auction Holdings Ltd. stock, see the HK:1939 Stock Forecast page.

Shangshan Gold Expands Global Reach with Kinghood Trademark Licensing

Shangshan Gold International Holdings Limited has announced a trademarks licensing agreement with Shenzhen Kinghood Holding Group Company Limited, allowing its subsidiary, Shangshan Technology, to use Kinghood’s trademarks outside mainland China. This strategic move aims to expand Shangshan’s overseas market presence and leverage Kinghood’s brand influence in the international jewelry and gold industries, potentially accelerating the application of relevant technologies and products and creating new growth opportunities for the company.

The most recent analyst rating on (HK:1939) stock is a Hold with a HK$6.50 price target. To see the full list of analyst forecasts on Tokyo Chuo Auction Holdings Ltd. stock, see the HK:1939 Stock Forecast page.

Shangshan Gold Expands Global Reach with New Licensing and Sales Agreements

Shangshan Gold International Holdings Limited announced a strategic move involving an intellectual property rights licensing agreement with its subsidiary, Hong Kong Shangshan Technology Development Co., Limited. This agreement allows Shangshan Technology to utilize patents and proprietary technologies for intelligent terminal devices outside of mainland China, enhancing its global market presence. Additionally, a sales contract was established with Smart Gold Management Limited, marking a significant step in expanding its gold-related business operations. These developments are poised to strengthen the company’s position in the gold and jewelry industry by leveraging advanced technological solutions.

The most recent analyst rating on (HK:1939) stock is a Hold with a HK$9.50 price target. To see the full list of analyst forecasts on Tokyo Chuo Auction Holdings Ltd. stock, see the HK:1939 Stock Forecast page.

Shangshan Gold International Holdings Unveils New Identity

Shangshan Gold International Holdings Limited, formerly known as Tokyo Chuo Auction Holdings Limited, has announced a series of changes including its company name, stock short name, logo, and website. These changes, effective from August 2025, reflect the company’s new identity and branding strategy. The stock code remains unchanged, and the changes will not affect shareholders’ rights or the company’s daily operations.

The most recent analyst rating on (HK:1939) stock is a Hold with a HK$9.50 price target. To see the full list of analyst forecasts on Tokyo Chuo Auction Holdings Ltd. stock, see the HK:1939 Stock Forecast page.

Tokyo Chuo Auction Expands into Gold and Intelligent Equipment Market

Tokyo Chuo Auction Holdings Ltd. has established a wholly-owned subsidiary, Hong Kong Shangshan Technology Development Co., Limited, to enter the gold and intelligent equipment market. This strategic move aims to diversify the company’s business, reduce reliance on a single revenue stream, and enhance its global market presence. The initiative aligns with the company’s long-term development strategy and is expected to improve operational performance and attract international investors, although it may not significantly impact financial results in the short term.

Tokyo Chuo Auction Holdings Ltd. Reports Unanimous Approval of AGM Resolutions

Tokyo Chuo Auction Holdings Ltd. announced the successful passing of all proposed resolutions at their Annual General Meeting held on August 13, 2025. The meeting saw full participation with 500,000,000 shares entitled to vote, and all resolutions, including the re-election of directors, were unanimously approved without any opposition. This outcome reflects strong shareholder support and stability within the company’s governance structure.