Tokyo Chuo Auction Holdings Ltd. (HK:1939)
:1939
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Tokyo Chuo Auction Holdings Ltd.
(1939)
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Rating:48Neutral
Price Target:
HK$0.57
▼(-47.34% Downside)
Action:ReiteratedDate:02/14/26
The score is held back primarily by ongoing profitability issues (negative EBIT and net margins) and a bearish technical setup (price below key moving averages with negative MACD). Low leverage and improving operating cash flow provide partial support, but negative earnings also weaken the valuation signal.
Positive Factors
High gross margin
A 78.14% gross profit margin indicates the auction business captures significant spread on transactions. That structural margin advantage gives room to cover operating costs, supports pricing power for core services, and provides long-term resilience if volume normalizes.
Negative Factors
Negative EBIT and net margins
Persistent negative EBIT and net margins indicate core operations and overhead are not yet profitable. Over the coming months this threatens equity erosion, constrains reinvestment, and requires sustained margin improvement (cost reductions or higher fee capture) to reach durable profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margin
A 78.14% gross profit margin indicates the auction business captures significant spread on transactions. That structural margin advantage gives room to cover operating costs, supports pricing power for core services, and provides long-term resilience if volume normalizes.
Read all positive factors
Tokyo Chuo Auction Holdings Ltd. (1939) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$296.89M
Dividend YieldN/A
Average Volume (3M)3.57M
Price to Earnings (P/E)2693.2
Beta (1Y)0.39
Revenue Growth85.29%
EPS Growth39.63%
CountryHK
Employees36
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Retail
Share Statistics
EPS (TTM)<0.01
Shares Outstanding511,880,000
10 Day Avg. Volume2,781,310
30 Day Avg. Volume3,570,523
Financial Highlights & Ratios
PEG Ratio0.43
Price to Book (P/B)1.04
Price to Sales (P/S)3.71
P/FCF Ratio6.21
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
Tokyo Chuo Auction Holdings Ltd. Business Overview & Revenue Model
Company Description
Shangshan Gold International Holdings Limited, an investment holding company, provides auction and related services, and artwork sales services in Hong Kong and Japan. The company provides auctions for Chinese and Japanese artworks, such as painti...
How the Company Makes Money
The company makes money primarily through revenues generated by its auction operations and related services conducted by its subsidiaries. Typical earnings in an auction-operator model come from fees charged to sellers (consignment/commission fees...
Tokyo Chuo Auction Holdings Ltd. Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
60
Neutral
Cash Flow
50
Neutral
| Breakdown | TTM | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 106.63M | 62.05M | 57.85M | 72.76M | 79.60M | 80.75M |
| Gross Profit | 49.29M | 48.48M | 46.78M | 53.32M | 68.97M | 70.02M |
| EBITDA | -7.81M | -11.68M | -18.60M | -541.00K | 22.26M | 23.52M |
| Net Income | -17.89M | -19.46M | -26.89M | -8.29M | 8.43M | 8.36M |
Balance Sheet | ||||||
| Total Assets | 453.61M | 394.96M | 396.64M | 466.00M | 581.08M | 594.65M |
| Cash, Cash Equivalents and Short-Term Investments | 78.58M | 76.46M | 69.05M | 67.28M | 108.70M | 153.63M |
| Total Debt | 42.16M | 43.80M | 52.25M | 53.44M | 68.99M | 85.47M |
| Total Liabilities | 227.02M | 170.38M | 157.69M | 202.91M | 297.06M | 308.19M |
| Stockholders Equity | 223.01M | 221.30M | 235.64M | 259.32M | 279.94M | 282.24M |
Cash Flow | ||||||
| Free Cash Flow | 22.99M | 37.05M | -10.93M | -17.25M | -24.19M | 51.60M |
| Operating Cash Flow | 23.10M | 37.16M | -6.16M | -16.52M | -23.29M | 60.79M |
| Investing Cash Flow | -110.00K | 590.00K | -4.55M | -549.00K | 1.69M | -7.36M |
| Financing Cash Flow | -7.71M | -9.56M | -6.88M | -18.65M | -18.74M | 20.01M |
Tokyo Chuo Auction Holdings Ltd. Technical Analysis
Negative
1.09
Price Trends
0.78
Negative
2.53
Negative
4.56
Negative
Market Momentum
-0.08
Negative
35.14
Neutral
29.26
Neutral
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 1.09 is above the 20-day moving average (MA) of 0.65, above the 50-day MA of 0.78, and below the 200-day MA of 4.56, indicating a bearish trend. The MACD of -0.08 indicates Negative momentum. The RSI at 35.14 is Neutral, neither overbought nor oversold. The STOCH value of 29.26 is Neutral, 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
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | HK$444.44M | 7.79 | 15.49% | 2.76% | 17.38% | 15.93% | |
64 Neutral | HK$490.37M | 9.90 | 1.04% | ― | -36.58% | -84.25% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
54 Neutral | HK$155.53M | -316.22 | -0.06% | ― | -14.12% | -104.76% | |
48 Neutral | HK$296.89M | 2,693.21 | -8.05% | ― | 85.29% | 39.63% | |
44 Neutral | HK$218.16M | -18.89 | -3.17% | ― | 50.72% | -434.09% | |
41 Neutral | HK$240.31M | -3.69 | -3.12% | ― | -33.28% | 91.18% |
* Consumer Cyclical Sector Average
HK:1939
Tokyo Chuo Auction Holdings Ltd.
0.58
0.13
28.89%
HK:1572
China Art Financial Holdings Ltd
0.09
0.02
31.43%
HK:1759
Sino Gas Holdings Group Limited
1.01
0.31
44.29%
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Precious Dragon Technology Holdings Ltd.
1.90
1.03
118.39%
HK:2101
Fulu Holdings Limited
1.20
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-13.04%
HK:0620
DTXS Silk Road Investment Holdings Company Limited
0.30
0.06
25.00%
Tokyo Chuo Auction Holdings Ltd. Corporate Events
Shangshan Gold International Overhauls Board Leadership as Chairman and Executive Directors Resign
Feb 27, 2026
Shangshan Gold International Holdings announced the resignation of executive directors Huang Shikun and Huang Shifeng, who also stepped down from key committee roles, including chairman of the board, nomination, remuneration and corporate governan...
Shangshan Gold Outlines Board and Committee Structure in Governance Update
Feb 27, 2026
Shangshan Gold International Holdings Limited has announced the current composition of its board of directors, led by executive director and chairman Mr. Tong Jun, alongside two non-executive directors and three independent non-executive directors...
Shangshan Gold Adds Clarification on 5 Million Share Options in 2025 Annual Report
Feb 3, 2026
Shangshan Gold International Holdings Limited has issued a supplemental announcement to its annual report for the year ended 31 March 2025, providing additional disclosure on its 2023 Share Option Scheme in line with Hong Kong listing requirements...
Shangshan Gold International Revamps Board and Governance Roles
Dec 31, 2025
Shangshan Gold International Holdings Limited, incorporated in Hong Kong and listed on the Stock Exchange of Hong Kong, announced a series of senior management and board changes that will take effect on 31 December 2025, reshaping its governance s...
Shangshan Gold International Outlines Board and Committee Structure
Dec 31, 2025
Shangshan Gold International Holdings Limited, incorporated in Hong Kong and listed on the Stock Exchange of Hong Kong, operates under a board structure that separates executive, non-executive and independent non-executive oversight, reflecting st...
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.