Ten Pao Group Holdings Limited (HK:1979)
:1979
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Ten Pao Group Holdings Limited
(1979)
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Rating:64Neutral
Price Target:
HK$2.50
▲(15.21% Upside)
Action:Downgraded
Date:05/27/26
The score is held back primarily by weaker financial quality—especially the sharp deterioration in operating and free cash flow alongside higher leverage and declining revenue. These risks are partly offset by constructive technical positioning (price above major moving averages with positive MACD) and attractive valuation (low P/E and solid dividend yield).
Positive Factors
OEM/ODM recurring revenue model
The OEM/ODM model creates durable contract-driven revenue from brand owners and retailers. Long-term tech/formulation support and product development value-add increase client stickiness, improving order visibility and protecting margins through repeat programs and scale over 2–6 months.
Negative Factors
Sharp cash flow deterioration
A dramatic fall in operating cash flow and near-elimination of free cash flow materially reduces internal funding for capex, working capital and dividends. If sustained, weak cash conversion will constrain financial flexibility and increase reliance on external financing for strategic needs.
Read all positive and negative factors
Positive Factors
Negative Factors
OEM/ODM recurring revenue model
The OEM/ODM model creates durable contract-driven revenue from brand owners and retailers. Long-term tech/formulation support and product development value-add increase client stickiness, improving order visibility and protecting margins through repeat programs and scale over 2–6 months.
Read all positive factors
Ten Pao Group Holdings Limited (1979) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$2.22B
Dividend Yield5.75%
Average Volume (3M)773.70K
Price to Earnings (P/E)5.7
Beta (1Y)0.82
Revenue Growth3.21%
EPS Growth-0.86%
CountryHK
Employees7,600
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)0.37
Shares Outstanding1,030,388,900
10 Day Avg. Volume363,300
30 Day Avg. Volume773,697
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)1.02
Price to Sales (P/S)0.40
P/FCF Ratio115.19
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)0.5
Revenue Forecast (FY)HK$6.84B
Ten Pao Group Holdings Limited Business Overview & Revenue Model
Company Description
Ten Pao Group Holdings Limited functions as an investment holding company, specializing in the global design, manufacturing, and sale of electrical charging solutions. Its extensive market presence spans mainland China, other Asian countries, the ...
How the Company Makes Money
Ten Pao Group Holdings Limited makes money primarily by selling manufactured consumer products to customers (typically brand owners, importers/wholesalers, and retailers) under OEM/ODM arrangements. Under this model, revenue is recognized from ful...
Ten Pao Group Holdings Limited Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
58
Neutral
Cash Flow
35
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 5.56B | 5.39B | 4.82B | 5.48B | 6.36B |
| Gross Profit | 1.01B | 1.05B | 907.20M | 841.93M | 1.01B |
| EBITDA | 537.89M | 554.37M | 567.51M | 520.78M | 595.25M |
| Net Income | 380.63M | 383.90M | 328.86M | 296.90M | 378.62M |
Balance Sheet | |||||
| Total Assets | 5.52B | 5.41B | 4.32B | 3.89B | 4.17B |
| Cash, Cash Equivalents and Short-Term Investments | 984.47M | 345.03M | 828.03M | 511.97M | 351.70M |
| Total Debt | 839.81M | 705.14M | 713.29M | 476.61M | 611.50M |
| Total Liabilities | 3.35B | 3.56B | 2.67B | 2.48B | 2.86B |
| Stockholders Equity | 2.18B | 1.86B | 1.66B | 1.41B | 1.30B |
Cash Flow | |||||
| Free Cash Flow | 19.23M | 420.91M | 177.02M | 359.69M | -326.76M |
| Operating Cash Flow | 353.41M | 813.65M | 484.70M | 595.93M | 245.16M |
| Investing Cash Flow | -385.73M | -358.76M | -294.97M | -230.02M | -607.42M |
| Financing Cash Flow | -12.18M | -276.43M | -377.27M | -191.03M | 220.38M |
Ten Pao Group Holdings Limited Technical Analysis
Negative
2.17
Price Trends
2.49
Negative
2.52
Negative
2.32
Negative
Market Momentum
-0.09
Positive
31.27
Neutral
-3.59
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1979, the sentiment is Negative. The current price of 2.17 is below the 20-day moving average (MA) of 2.57, below the 50-day MA of 2.49, and below the 200-day MA of 2.32, indicating a bearish trend. The MACD of -0.09 indicates Positive momentum. The RSI at 31.27 is Neutral, neither overbought nor oversold. The STOCH value of -3.59 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1979.
Ten Pao Group Holdings Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | HK$2.27T | 22.42 | 22.82% | 0.21% | 30.08% | ― | |
64 Neutral | HK$2.22B | 5.70 | 18.00% | 5.75% | 3.21% | -0.86% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
54 Neutral | HK$46.61B | 23.83 | 4.52% | ― | 60.41% | 150.51% | |
53 Neutral | HK$1.59B | -8.04 | -3.73% | 6.40% | -34.79% | -130.42% | |
51 Neutral | HK$392.77M | -6.89 | -16.83% | ― | -15.04% | 71.02% | |
42 Neutral | HK$31.49M | -124.24 | 0.11% | ― | 4.96% | 97.33% |
* Industrials Sector Average
HK:1979
Ten Pao Group Holdings Limited
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Ten Pao Group Holdings Limited Corporate Events
Ten Pao Revamps Board Governance After Shareholders Back All AGM Resolutions
Jun 12, 2026
Ten Pao Group Holdings reported that all resolutions at its 2026 annual general meeting on June 12 were approved by shareholders, including adoption of the 2025 financial statements, a final dividend of HK6.6 cents per share, re-election of execut...
Ten Pao Reshapes Board and Committees to Strengthen Governance
Jun 12, 2026
Ten Pao Group Holdings Limited has updated its board structure effective 12 June 2026, confirming Hung Kwong Yee as executive director, chairman and chief executive officer, with Tse Chung Shing serving as executive director, company secretary and...
Ten Pao Plans Spin-Off and Mainland A-Share Listing for Huizhou Electronics Unit
May 14, 2026
Ten Pao Group Holdings Limited has announced plans for a proposed spin-off and separate A-share listing of its indirect subsidiary, Ten Pao Electronics (Huizhou) Co., Ltd., on a stock exchange in mainland China. The Huizhou-based unit, which manuf...
Ten Pao Sets 2026 AGM to Approve Dividend, Board Changes and Buyback Mandate
Apr 27, 2026
Ten Pao Group Holdings Limited has convened its 2026 annual general meeting for 12 June 2026 in Hong Kong, where shareholders will review the audited consolidated financial statements for the year ended 31 December 2025 and vote on a proposed fina...
Ten Pao Group Overhauls Independent Board Line-Up and Committees
Apr 27, 2026
Ten Pao Group Holdings has announced a series of board and committee changes to comply with Hong Kong listing rules on the tenure of independent non-executive directors. Long-serving independent non-executive directors Mr. Chu Yat Pang Terry and M...
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.