Jolimark Holdings (2028) AI Stock Analysis

• Market Cap: HK$53.93M
• Dividend Yield: N/A
• Average Volume (3M): 288.40K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.13
• Revenue Growth: -20.25%
• EPS Growth: 46.77%
• Country: HK
• Employees: 572
• Sector: Technology
• Sector Strength: 88
• Industry: Computer Hardware
• EPS (TTM): -0.05
• Shares Outstanding: 612,881,500
• 10 Day Avg. Volume: 240,800
• 30 Day Avg. Volume: 288,400
• PEG Ratio: 0.02
• Price to Book (P/B): 3.07
• Price to Sales (P/S): 0.23
• P/FCF Ratio: -0.75
• 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: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: HK$0.09 ▲(21.43% Upside)

The score is primarily constrained by weak financial performance (declining revenue, ongoing losses, high leverage, and negative free cash flow). Technical indicators show some near-term momentum, but valuation remains challenged due to negative earnings and no stated dividend yield.

Positive Factors

Diversified product & service mix

Jolimark combines hardware, software and support services, which creates cross-sell opportunities and product stickiness. This integrated model can sustain revenue per customer, support higher lifetime value, and differentiate versus pure-play hardware vendors over the medium term.

Recurring revenue streams

Recurring maintenance, support and software licenses provide more predictable cash flows and customer retention than one-off hardware sales. Over 2–6 months this revenue mix supports steadier revenue recovery and gives management levers to improve margin mix through higher-margin services.

Diversified end-market exposure

Exposure across retail, logistics and healthcare reduces reliance on any single cyclical end market. Structural demand for printing and labeling in logistics and healthcare supports stable long-term volume even if one sector slows, aiding revenue resilience and portfolio allocation.

Negative Factors

Persistent revenue decline

Two consecutive steep revenue declines indicate structural demand loss or competitive share erosion. Shrinking scale undermines fixed-cost absorption, reduces funds available for R&D and go-to-market investment, and heightens execution risk for any turnaround efforts.

Negative profitability and margins

Sustained negative net, EBIT and EBITDA margins show the business is currently not generating operating profits. This limits internal reinvestment, weakens resilience to supply or demand shocks, and signals potential structural issues in pricing, cost control, or product mix.

High leverage and weak cash flow

Very high leverage combined with negative free cash flow and no 2024 operating cash inflow increases refinancing and liquidity risk. This constrains capital for product development or market expansion and makes the company vulnerable to interest or macroeconomic stress.

Jolimark Holdings Business Overview & Revenue Model

Company Description

Jolimark Holdings Limited, an investment holding company, manufactures and sells printers and other electronic products in the People's Republic of China. The company offers rolling and flatbed dot matrix printers, passbook printers, thermal and dot matrix POS solutions, POS terminals, mini printers, tax control ECRs, DLP projectors, and other electronic products under the Jolimark brand name. It also designs, manufactures, and sells business equipment, tax control equipment, and other electronic products on EMS/ODM/OEM basis. In addition, the company is involved in the distribution of EPSON branded SIDM printers; research and development of the inkjet print heads and Internet of Things; and provision of import and export service for electronic business. Further, it operates as a logistics agent. The company was founded in 1986 and is headquartered in Jiangmen, the People's Republic of China. Jolimark Holdings Limited is a subsidiary of Kytronics Holdings Limited.

How the Company Makes Money

Jolimark Holdings generates revenue primarily through the sale of its printing hardware and software solutions. The company has established key revenue streams from direct sales to businesses across various industries, as well as through partnerships with distributors and resellers. Additionally, Jolimark earns recurring income from maintenance and support services, along with software licensing fees. Significant collaborations with technology firms and integration into larger enterprise solutions further enhance its earnings potential, allowing it to tap into new markets and customer segments.

Jolimark Holdings Financial Statement Overview

Summary

Jolimark Holdings faces significant financial challenges with declining revenues, persistent losses, and high leverage. The company's financial health is under pressure, requiring strategic adjustments to stabilize operations and improve cash flow.

Income Statement

Jolimark Holdings has been experiencing a declining revenue trend with a -26% revenue growth from 2022 to 2023 and -26% from 2023 to 2024. The company has negative profit margins, with the net profit margin consistently negative, indicating a lack of profitability. EBIT and EBITDA margins are also negative, suggesting operational inefficiencies.

Balance Sheet

The company's balance sheet shows high leverage with a debt-to-equity ratio of 12.77 in 2024. Stockholders' equity has decreased significantly, impacting the equity ratio negatively and indicating financial instability. The return on equity is negative, reflecting ongoing losses.

Cash Flow

Jolimark Holdings has negative free cash flow over recent years, with no operating cash inflow in 2024. The free cash flow to net income ratio is undefined due to negative net income and free cash flow, indicating poor cash management and sustainability issues.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	135.69M	149.74M	203.48M	279.19M	344.61M	275.97M
Gross Profit	25.32M	18.37M	22.52M	65.10M	95.61M	84.90M
EBITDA	-30.53M	-40.37M	-53.45M	-17.98M	-7.65M	-9.08M
Net Income	-47.36M	-59.83M	-79.47M	-40.01M	-25.18M	-25.11M
Balance Sheet
Total Assets	159.07M	206.14M	254.19M	356.60M	457.13M	398.43M
Cash, Cash Equivalents and Short-Term Investments	11.84M	24.43M	37.29M	68.97M	125.50M	104.43M
Total Debt	116.09M	143.05M	111.44M	123.28M	114.31M	87.25M
Total Liabilities	182.46M	196.81M	177.41M	200.52M	251.25M	182.31M
Stockholders Equity	-21.42M	11.20M	77.85M	156.85M	206.01M	216.99M
Cash Flow
Free Cash Flow	-25.33M	-46.02M	-23.85M	-74.46M	-6.00M	-13.09M
Operating Cash Flow	-25.54M	-44.22M	-19.60M	-69.70M	6.58M	957.00K
Investing Cash Flow	526.00K	-1.31M	-2.36M	60.61M	-69.13M	-16.34M
Financing Cash Flow	21.92M	32.68M	-9.86M	14.66M	21.51M	-1.40M

Jolimark Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.07
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2028, the sentiment is Positive. The current price of 0.07 is below the 20-day moving average (MA) of 0.08, below the 50-day MA of 0.08, and below the 200-day MA of 0.08, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 60.74 is Neutral, neither overbought nor oversold. The STOCH value of 87.50 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:2028.

Jolimark Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
6939	57 Neutral	HK$389.06M	-12.40	-8.35%	2.94%	2.22%	-434.25%
2436	48 Neutral	HK$4.15B	-356.36	-1.60%	―	32.83%	90.24%
2028	44 Neutral	HK$53.93M	-1.06	-948.40%	―	-20.25%	46.77%
1079	43 Neutral	HK$470.81M	-25.58	-23.45%	―	29.21%	-137.50%
8159	42 Neutral	HK$57.02M	-1.32	-58.39%	―	2.76%	-141.34%
3638	40 Underperform	HK$474.42M	-13.56	-32.47%	―	-52.55%	-262.35%