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China Apex Group Ltd. (HK:2011)
:2011
Hong Kong Market

China Apex Group Ltd. (2011) AI Stock Analysis

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HK:2011

China Apex Group Ltd.

(2011)

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Neutral 65 (OpenAI - 5.2)
Rating:65Neutral
Price Target:
HK$1.50
▲(0.67% Upside)
China Apex Group Ltd. has shown strong financial performance with improved profitability and cash flow metrics, which is the most significant factor in the overall score. Technical analysis indicates strong momentum but warns of potential overbought conditions. Valuation is fair, though the lack of a dividend yield may deter some investors. The absence of earnings call data and corporate events does not impact the score.
Positive Factors
Revenue and margin recovery
Sustained double-digit revenue growth and a turnaround to positive net margins indicate the company has regained pricing power and demand. This supports durable cash generation and reinvestment capacity, strengthening long-term competitiveness across product lines and markets.
Improved cash generation
A swing to material positive free cash flow demonstrates the business now converts earnings into cash reliably. That improves funding for capex, reduces reliance on external financing, and provides a buffer for cyclical pressures, enhancing financial resilience over months.
Diversified business model
Operations across manufacturing, trading and logistics create multiple revenue streams and reduce single-market dependence. Structural diversification helps smooth cyclical volatility, supports cross-selling, and preserves core operations if one segment softens over a multi-month horizon.
Negative Factors
Historical volatility in performance
Past swings in profitability and financial results indicate earnings are not yet fully stable. Continued volatility undermines forecasting, capital allocation, and investor confidence, making it harder to commit to long-term investments or strategic initiatives over coming quarters.
Moderate leverage and limited equity cushion
A debt-to-equity above 1.0 with a modest equity ratio reduces balance sheet flexibility. In a slowdown higher leverage increases interest and refinancing risk, constraining the company’s ability to pursue large investments or absorb shocks without deleveraging actions over the medium term.
Limited investor engagement / guidance
Absence of earnings calls and formal guidance limits transparency into strategy and near-term expectations. For investors and counterparties this reduces visibility on execution and management priorities, increasing uncertainty about future operational decisions and capital allocation.

China Apex Group Ltd. (2011) vs. iShares MSCI Hong Kong ETF (EWH)

China Apex Group Ltd. Business Overview & Revenue Model

Company DescriptionChina Apex Group Limited, an investment holding company, designs, manufactures, sells, and trades in finished zippers and sliders, and other garment accessories for the original equipment manufacturers of clothing brands. It operates in the People's Republic of China, Hong Kong, Switzerland, Italy, India, Indonesia, Bangladesh, Germany, Korea, Vietnam, Tunisia, and Jordan. The company was formerly known as KEE Holdings Company Limited and changed its name to China Apex Group Limited in November 2019. China Apex Group Limited was founded in 1992 and is headquartered in Central, Hong Kong.
How the Company Makes MoneyChina Apex Group Ltd. generates revenue through multiple streams, primarily by manufacturing and selling various products across different sectors. Their core revenue comes from the sale of consumer electronics and machinery components, which are distributed both in domestic markets and exported internationally. Additionally, the company engages in trading activities, facilitating the purchase and distribution of goods, thereby earning commission-based income. Strategic partnerships with suppliers and distributors enhance their market reach, while their logistics services provide additional revenue through shipping and handling fees. Overall, the company's diversified product portfolio and its ability to adapt to market demands play a crucial role in sustaining its earnings.

China Apex Group Ltd. Financial Statement Overview

Summary
China Apex Group Ltd. has demonstrated a commendable recovery in its financial performance, with significant improvements in profitability, leverage, and cash flow metrics. The income statement shows strong revenue growth and improved margins, while the balance sheet reflects a stable financial structure with manageable leverage. Cash flow generation has been robust, supporting the company's operational and strategic initiatives. However, historical volatility in financial performance suggests the need for continued focus on stability and risk management.
Income Statement
75
Positive
China Apex Group Ltd. has shown a strong recovery in its income statement metrics. The gross profit margin improved significantly to 52.66% in 2024 from 41.47% in 2023, indicating better cost management or pricing strategies. The net profit margin also turned positive to 9.69% in 2024 from a negative margin in 2023, reflecting improved profitability. Revenue growth rate was impressive at 25.08% from 2023 to 2024. EBIT and EBITDA margins improved to 10.67% and 25.02% respectively, showing enhanced operational efficiency. However, historical volatility in profitability remains a concern.
Balance Sheet
70
Positive
The balance sheet of China Apex Group Ltd. reflects a stable financial position with a debt-to-equity ratio of 1.14 in 2024, indicating moderate leverage. The return on equity (ROE) improved to 17.85%, showcasing effective use of equity to generate profits. The equity ratio stands at 32.77%, suggesting a balanced capital structure. However, the company has experienced fluctuations in equity and liabilities over the years, which may pose risks if not managed properly.
Cash Flow
80
Positive
Cash flow metrics for China Apex Group Ltd. are strong, with a significant improvement in free cash flow from -13.33 million in 2023 to 42.36 million in 2024, indicating robust cash generation capabilities. The operating cash flow to net income ratio is 1.31, suggesting healthy cash conversion from earnings. The free cash flow to net income ratio is also favorable at 1.31, highlighting efficient cash management. The company has shown resilience in improving cash flows despite past challenges.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue367.61M333.38M266.55M215.58M239.72M170.09M
Gross Profit185.95M175.51M110.54M69.71M71.91M34.23M
EBITDA101.62M83.42M-34.46M37.97M20.10M-16.74M
Net Income47.83M32.30M-69.04M-1.89M-17.50M-46.91M
Balance Sheet
Total Assets597.06M551.79M278.10M305.71M275.78M290.70M
Cash, Cash Equivalents and Short-Term Investments120.58M141.48M63.90M105.27M59.87M60.93M
Total Debt207.72M206.10M80.61M50.48M52.53M68.91M
Total Liabilities366.58M359.19M144.64M99.30M111.01M117.66M
Stockholders Equity213.83M180.87M123.38M184.91M141.67M151.87M
Cash Flow
Free Cash Flow33.77M42.36M-13.33M276.00K15.72M-2.02M
Operating Cash Flow32.57M42.36M1.30M15.65M35.59M18.67M
Investing Cash Flow40.12M40.16M-8.36M-13.65M-18.25M3.02M
Financing Cash Flow-11.76M12.33M-33.38M50.53M-20.81M-56.59M

China Apex Group Ltd. Technical Analysis

Technical Analysis Sentiment
Negative
Last Price1.49
Price Trends
50DMA
1.56
Negative
100DMA
1.52
Negative
200DMA
1.44
Positive
Market Momentum
MACD
-0.02
Negative
RSI
33.17
Neutral
STOCH
45.71
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2011, the sentiment is Negative. The current price of 1.49 is above the 20-day moving average (MA) of 1.49, below the 50-day MA of 1.56, and above the 200-day MA of 1.44, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 33.17 is Neutral, neither overbought nor oversold. The STOCH value of 45.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2011.

China Apex Group Ltd. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
71
Outperform
HK$901.13M6.3331.67%6.76%7.12%28.89%
65
Neutral
HK$850.26M17.7725.73%21.10%
61
Neutral
$18.38B12.79-2.54%3.03%1.52%-15.83%
52
Neutral
HK$171.60M-2.11-8.49%2.08%-6.96%-32.24%
45
Neutral
HK$1.52B-4.40-74.13%2.67%-54.41%
45
Neutral
HK$166.85M-0.48-18.57%-6.47%-118.56%
* Consumer Cyclical Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
HK:2011
China Apex Group Ltd.
1.48
0.09
6.47%
HK:2668
Pak Tak International Limited
0.27
-0.17
-38.64%
HK:0294
Yangtzekiang Garment Co. Ltd.
0.83
-0.25
-23.15%
HK:1388
Embry Holdings Limited
0.40
0.02
3.95%
HK:1346
Lever Style Corp.
1.41
0.40
39.60%

China Apex Group Ltd. Corporate Events

Gilston Group Names New Company Secretary and Authorised Representative
Jan 23, 2026

Gilston Group Limited has announced a change in key corporate governance roles, with company secretary, authorised representative and process agent Yu Sin Ting resigning effective 23 January 2026. The company said Yu had no disagreement with the board and that there were no issues arising from her departure that needed to be brought to the attention of shareholders or the exchange. On the same date, the board appointed Chan Kam Fuk, a Hong Kong Institute of Certified Public Accountants member and Certified Practising Accountant in Australia with extensive experience in accounting, auditing and company secretarial work, to assume all three roles, a move that is expected to maintain continuity in compliance, regulatory communication and corporate administration for the Hong Kong–listed group.

The most recent analyst rating on (HK:2011) stock is a Buy with a HK$1.50 price target. To see the full list of analyst forecasts on China Apex Group Ltd. stock, see the HK:2011 Stock Forecast page.

Gilston Group Delays Dispatch of Circular on Major Disposal and Connected Transaction
Jan 14, 2026

Gilston Group Limited has announced a delay in sending to shareholders a circular relating to a proposed major disposal and a connected transaction at the subsidiary level. The circular, which will set out details of the equity transfer agreement, a valuation report, other required information and the notice of an extraordinary general meeting, was originally expected by 14 January 2026 but is now scheduled for dispatch on or before 27 February 2026, as the company needs more time to finalize certain information. Completion of the disposal remains conditional on satisfaction or waiver of the agreed conditions precedent, meaning the transaction may not proceed, and the company has urged shareholders and potential investors to exercise caution when dealing in its shares.

The most recent analyst rating on (HK:2011) stock is a Buy with a HK$2.00 price target. To see the full list of analyst forecasts on China Apex Group Ltd. stock, see the HK:2011 Stock Forecast page.

Gilston Group Announces Auditor’s Change of Name
Jan 12, 2026

Gilston Group Limited, a Cayman Islands-incorporated company listed in Hong Kong under stock code 2011, announced an administrative change involving its external auditor. The company’s board reported that its Hong Kong auditor has officially changed its English name from SFAI (HK) CPA Limited to ZSZH (HK) Fuson CPA Limited, with a corresponding change in its Chinese name, effective 9 January 2026. The announcement indicates a rebranding of the audit firm rather than a change of auditor, suggesting no immediate impact on Gilston Group’s audit arrangements or governance structure, while reaffirming the current composition of its board of executive, non-executive and independent non-executive directors.

The most recent analyst rating on (HK:2011) stock is a Hold with a HK$2.00 price target. To see the full list of analyst forecasts on China Apex Group Ltd. stock, see the HK:2011 Stock Forecast page.

Gilston Group Restructures Major Shareholding After Court-Approved Inheritance
Jan 9, 2026

Gilston Group Limited has announced a change in its substantial shareholding structure following the inheritance of shares previously held by the late major shareholder, Mr. Wu Jingming. The Eastern Caribbean Supreme Court of the British Virgin Islands has approved the inheritance application of executive director and nephew, Mr. Cody Wu Zhuo‑xuan, who has now inherited all the issued shares in Central Eagle, a holding vehicle that directly owns about 139.2 million Gilston shares, representing roughly 24.23% of the company’s issued share capital. As a result, Mr. Cody Wu has become the sole shareholder of Central Eagle and is now a substantial shareholder of Gilston under Hong Kong listing rules. The board has stated that this transfer of control over a large equity block will not adversely affect the group’s operations or overall development, though it has advised shareholders and potential investors to exercise caution when dealing in the company’s securities.

The most recent analyst rating on (HK:2011) stock is a Hold with a HK$2.00 price target. To see the full list of analyst forecasts on China Apex Group Ltd. stock, see the HK:2011 Stock Forecast page.

China Apex to Sell KEE Hubei for RMB40 Million and Ink Three‑Year Zipper Supply Deal
Dec 19, 2025

China Apex Group Ltd. has agreed to dispose of its entire equity interest in its wholly owned subsidiary KEE Hubei for RMB40 million (about HK$44 million) to a purchaser ultimately controlled by Mr. Xu, a director of certain group subsidiaries. Although this constitutes a major and connected transaction at the subsidiary level, the board, including independent non-executive directors, has deemed the terms fair, reasonable and on normal commercial terms, triggering shareholder approval and disclosure obligations but exempting the deal from certain independent advice and approval requirements under Hong Kong’s Listing Rules. Following completion, China Apex’s KEE Guangdong unit will enter into a three‑year procurement framework with KEE Hubei for the continued supply of zipper products, forming continuing connected transactions that will be subject only to annual reporting, review and announcement requirements, thereby allowing the group to monetise the asset while maintaining a stable supply relationship under a regulated connected‑party framework.

The most recent analyst rating on (HK:2011) stock is a Hold with a HK$2.00 price target. To see the full list of analyst forecasts on China Apex Group Ltd. stock, see the HK:2011 Stock Forecast page.

Gilston Group Limited Announces Key Personnel Changes
Dec 1, 2025

Gilston Group Limited, a company listed on the Hong Kong Stock Exchange, has announced a change in its key personnel. Mr. Chan Kam Fuk has resigned from his roles as company secretary, authorized representative, and process agent, effective December 1, 2025. He will be succeeded by Ms. Yu Sin Ting, who brings extensive experience in auditing and financial reporting for listed companies. This transition is expected to maintain the company’s compliance with regulatory requirements and support its financial operations.

The most recent analyst rating on (HK:2011) stock is a Hold with a HK$2.00 price target. To see the full list of analyst forecasts on China Apex Group Ltd. stock, see the HK:2011 Stock Forecast page.

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.Date of analysis: Nov 15, 2025