Man Wah Holdings Limited (HK:1999)
:1999
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Man Wah Holdings
(1999)
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Rating:69Neutral
Price Target:
HK$4.50
▼(-5.26% Downside)
Action:DowngradedDate:12/20/25
Man Wah Holdings' overall stock score is driven by its stable financial performance and attractive valuation, with a low P/E ratio and high dividend yield. However, technical indicators suggest a cautious outlook due to potential bearish momentum.
Positive Factors
Margin Sustainability
A gross profit margin near 40.5% indicates durable cost competitiveness in manufacturing and sourcing. Sustained high gross margins provide a buffer against volume swings, support operating profitability, and enable reinvestment or shareholder distributions even if top-line growth softens.
Negative Factors
Declining Revenue
Negative revenue growth (~-6.4%) reflects weakening demand or order volumes. If this trend persists, it erodes scale economies, pressures fixed-cost absorption and curtails room for margin expansion, making long-term profit improvement and strategic investment more difficult.
Read all positive and negative factors
Positive Factors
Negative Factors
Margin Sustainability
A gross profit margin near 40.5% indicates durable cost competitiveness in manufacturing and sourcing. Sustained high gross margins provide a buffer against volume swings, support operating profitability, and enable reinvestment or shareholder distributions even if top-line growth softens.
Read all positive factors
Man Wah Holdings (1999) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$16.52B
Dividend Yield5.53%
Average Volume (3M)5.49M
Price to Earnings (P/E)3.6
Beta (1Y)1.27
Revenue Growth-6.39%
EPS Growth-10.18%
CountryHK
Employees27,246
SectorConsumer Cyclical
Sector Strength84
IndustryFurnishings, Fixtures & Appliances
Share Statistics
EPS (TTM)0.29
Shares Outstanding3,878,083,300
10 Day Avg. Volume5,835,650
30 Day Avg. Volume5,486,657
Financial Highlights & Ratios
PEG Ratio-0.83
Price to Book (P/B)1.37
Price to Sales (P/S)1.03
P/FCF Ratio7.63
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$6.50Price Target Upside36.84% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.58
Revenue Forecast (FY)HK$16.60B
Man Wah Holdings Business Overview & Revenue Model
Company Description
Man Wah Holdings Limited, an investment holding company, engages in the manufacture, wholesale, trading, and distribution of sofas and ancillary products in the People's Republic of China, North America, Europe, and internationally. The company op...
How the Company Makes Money
Man Wah makes money primarily by selling furniture products—most importantly upholstered seating (including motion/reclining sofas)—that it designs and manufactures and then distributes through multiple channels. Key revenue streams typically incl...
Man Wah Holdings Financial Statement Overview
Summary
Income Statement
65
Positive
Balance Sheet
75
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Mar 2025 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 16.64B | 16.90B | 18.41B | 17.35B | 21.50B | 16.43B |
| Gross Profit | 6.81B | 6.84B | 7.25B | 6.68B | 7.89B | 5.93B |
| EBITDA | 3.39B | 3.36B | 3.64B | 3.00B | 3.57B | 2.68B |
| Net Income | 2.07B | 2.06B | 2.30B | 1.91B | 2.25B | 1.92B |
Balance Sheet | ||||||
| Total Assets | 20.99B | 20.02B | 19.81B | 19.64B | 20.52B | 17.44B |
| Cash, Cash Equivalents and Short-Term Investments | 3.95B | 4.08B | 3.52B | 4.09B | 3.22B | 3.68B |
| Total Debt | 4.12B | 4.39B | 4.33B | 4.40B | 4.61B | 3.64B |
| Total Liabilities | 6.33B | 6.37B | 6.73B | 7.11B | 7.77B | 6.03B |
| Stockholders Equity | 13.65B | 12.71B | 12.08B | 11.56B | 11.71B | 10.74B |
Cash Flow | ||||||
| Free Cash Flow | 1.93B | 2.28B | 985.45M | 2.50B | 363.28M | 655.85M |
| Operating Cash Flow | 3.42B | 3.32B | 2.55B | 4.06B | 2.32B | 1.92B |
| Investing Cash Flow | -863.62M | -1.55B | -1.54B | -1.59B | -995.57M | -2.73B |
| Financing Cash Flow | -2.11B | -1.50B | -1.28B | -1.41B | -956.19M | 1.11B |
Man Wah Holdings Technical Analysis
Negative
4.75
Price Trends
4.63
Negative
4.64
Negative
4.54
Negative
Market Momentum
-0.10
Positive
35.22
Neutral
18.52
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1999, the sentiment is Negative. The current price of 4.75 is above the 20-day moving average (MA) of 4.36, above the 50-day MA of 4.63, and above the 200-day MA of 4.54, indicating a bearish trend. The MACD of -0.10 indicates Positive momentum. The RSI at 35.22 is Neutral, neither overbought nor oversold. The STOCH value of 18.52 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1999.
Man Wah Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | HK$267.75M | 6.76 | 6.01% | 7.76% | 14.80% | -56.27% | |
71 Outperform | HK$441.17M | 10.15 | 6.19% | 12.90% | 0.71% | 2.66% | |
69 Neutral | HK$16.52B | 3.65 | 15.70% | 5.53% | -6.39% | -10.18% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
44 Neutral | HK$163.20M | -2.52 | -11.99% | 31.48% | 4.60% | -9.42% | |
39 Underperform | HK$181.64M | -0.57 | 32.54% | ― | -45.11% | 16.34% | |
39 Underperform | HK$259.86M | -0.21 | -40.16% | ― | -27.42% | -80.52% |
* Consumer Cyclical Sector Average
HK:1999
Man Wah Holdings
4.26
0.17
4.23%
HK:0684
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0.49
-0.14
-22.22%
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0.88
0.07
8.64%
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Royale Home Holdings Limited
0.10
-0.18
-63.64%
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Sinomax Group Ltd.
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0.05
<0.01
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Man Wah Holdings Corporate Events
Man Wah Subsidiary RMT Posts Profit Decline but Stronger Balance Sheet in 2025
Apr 28, 2026
Man Wah subsidiary Remacro Technology Co., Ltd. has reported a slight decline in revenue and a sharper drop in profitability for 2025, with revenue edging down 2.3% year on year to RMB 2.25 billion and net profit attributable to shareholders falli...
Man Wah’s Remacro Technology Wins NEEQ Approval Without New Share Issuance
Mar 30, 2026
Man Wah Holdings has confirmed that its subsidiary Remacro Technology Co., Ltd. (RMT) has received regulatory approval for the public transfer and quotation of its shares on China’s National Equities Exchange and Quotations, with trading to ...
Man Wah Holdings Sets May Board Meeting to Approve Annual Results and Consider Dividend
Mar 30, 2026
Man Wah Holdings has scheduled a board meeting for 15 May 2026 to review and approve the audited financial results for the year ended 31 March 2026. The board will also consider the declaration of a final dividend and address other corporate matte...
Man Wah grants time-vested share awards to 24 employees
Mar 2, 2026
Man Wah Holdings has granted share awards involving 2,898,000 new shares, or about 0.07% of its issued share capital, to 24 employees under its 2024 Share Award Scheme. The grants are subject to acceptance and are structured so that staff pay a pu...
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.