Nayuki Holdings Ltd. (2150) AI Stock Analysis

• Market Cap: HK$1.96B
• Dividend Yield: N/A
• Average Volume (3M): 5.24M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.31
• Revenue Growth: -11.19%
• EPS Growth: -22.98%
• Country: HK
• Employees: 6,122
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Restaurants
• EPS (TTM): -0.08
• Shares Outstanding: 1,707,588,100
• 10 Day Avg. Volume: 5,345,300
• 30 Day Avg. Volume: 5,237,056
• PEG Ratio: <0.01
• Price to Book (P/B): 0.56
• Price to Sales (P/S): 0.44
• P/FCF Ratio: -22.24
• 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: HK$0.90
• Price Target Upside: -18.18% Downside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: HK$1.00 ▼(-9.09% Downside)

The score is held back primarily by weak financial performance—shrinking margins, a swing to losses, and heightened cash-flow uncertainty—despite reasonable balance-sheet leverage. Technical indicators are moderately constructive in the near term (price above 20/50DMA and positive MACD), but the longer-term trend remains soft (below 100/200DMA). Valuation is also constrained by negative earnings and the absence of dividend yield data.

Positive Factors

Brand Positioning

Nayuki's strong brand positioning in the premium tea market helps maintain customer loyalty and supports long-term revenue potential.

Strategic Partnerships

Partnerships with suppliers enhance product quality, reinforcing Nayuki's competitive edge and supporting its premium market positioning.

Equity Financing

A strong equity ratio indicates financial stability and reduces reliance on debt, providing flexibility for future investments.

Negative Factors

Revenue Decline

Declining revenues indicate potential market challenges and could impact long-term profitability and business sustainability.

Liquidity Issues

Lack of cash flow generation raises concerns about liquidity, potentially affecting the company's ability to fund operations and growth.

Profitability Challenges

Negative profit margins highlight cost management issues and could hinder the company's ability to reinvest in growth initiatives.

Nayuki Holdings Ltd. Business Overview & Revenue Model

Company Description

Nayuki Holdings Limited, an investment holding company, operates a chain of teahouses in China. The company operates teahouses under the flagship brand Nayuki that offers a range of tea drinks and handcrafted baked goods, as well as sub-brand Tai Gai. As of December 31, 2021, it operated 817 Nayuki teahouses covering 80 cities across Mainland China. The company was formerly known as Pindao Holdings Limited. Nayuki Holdings Limited was founded in 2014 and is headquartered in Shenzhen, the People's Republic of China.

How the Company Makes Money

Nayuki Holdings generates revenue primarily through the sale of its tea beverages and bakery products in its retail stores. The company's revenue model is based on direct sales to consumers, with a growing emphasis on digital sales channels through its mobile app and online delivery platforms. Key revenue streams include in-store purchases, online orders, and seasonal product promotions. Nayuki also benefits from strategic partnerships with delivery services, enhancing its market reach and convenience for customers. Additionally, the company may engage in brand collaborations and promotional events that further boost sales and brand visibility.

Nayuki Holdings Ltd. Financial Statement Overview

Summary

Nayuki Holdings Ltd. is facing financial difficulties with declining revenues and profitability. The income statement shows negative revenue growth and net profit margin. The balance sheet indicates stable leverage but negative ROE due to net losses. The cash flow statement highlights liquidity issues with no operating or free cash flow reported for 2024.

Income Statement

The income statement shows a challenging financial performance with declining total revenue and net income over the years. The gross profit margin has decreased from 30.76% in 2023 to 23.47% in 2024, indicating potential cost control issues. Net profit margin has turned negative at -18.64% in 2024, down from 0.26% in 2023, signaling profitability challenges. Revenue growth has been negative recently, at -4.70% in 2024. The EBIT margin deteriorated from 17.63% in 2023 to 10.22% in 2024, while the EBITDA margin is not meaningful due to negative EBITDA. Overall, the company is facing headwinds in maintaining revenue and profitability.

Balance Sheet

The balance sheet reveals a mixed picture with strengths and weaknesses. The debt-to-equity ratio has improved slightly to 0.37 in 2024 from 0.37 in 2023, indicating stable leverage. Return on Equity (ROE) is negative, reflecting the company's net losses, but the equity ratio remains strong at 63.73% in 2024, showing reliance on equity financing. However, the declining stockholders' equity from 2023 to 2024 points to potential concerns about financial health. Overall, the company has controlled leverage but needs to address profitability to improve ROE.

Cash Flow

The cash flow statement indicates significant challenges. There is no operating or free cash flow reported for 2024, highlighting potential liquidity issues. Previously, free cash flow was positive in 2023, but the absence of cash flow figures in 2024 suggests potential operational difficulties. The operating cash flow to net income ratio and free cash flow to net income ratio cannot be assessed due to missing data. The cash position, although previously strong, may be under pressure without sufficient operational cash generation.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	4.56B	4.92B	5.16B	4.29B	4.30B	3.06B
Gross Profit	1.12B	1.68B	1.59B	1.51B	1.47B	978.76M
EBITDA	20.16M	-138.48M	788.01M	261.92M	-3.81B	447.19M
Net Income	-599.16M	-917.29M	13.22M	-469.33M	-4.53B	-201.87M
Balance Sheet
Total Assets	5.83B	6.17B	7.54B	6.94B	7.33B	3.31B
Cash, Cash Equivalents and Short-Term Investments	2.80B	2.49B	2.66B	3.37B	4.10B	501.75M
Total Debt	1.29B	1.45B	1.77B	1.42B	1.45B	1.64B
Total Liabilities	2.04B	2.25B	2.72B	2.17B	2.39B	3.74B
Stockholders Equity	3.80B	3.93B	4.82B	4.77B	4.94B	-424.42M
Cash Flow
Free Cash Flow	15.38M	-98.10M	287.57M	-141.69M	-243.02M	330.85M
Operating Cash Flow	97.81M	201.61M	828.49M	306.63M	506.08M	574.35M
Investing Cash Flow	250.47M	319.84M	-1.33B	-2.63B	-794.98M	-243.85M
Financing Cash Flow	-133.46M	-387.98M	-446.35M	-478.00M	3.89B	91.92M

Nayuki Holdings Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 1.10
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2150, the sentiment is Neutral. The current price of 1.1 is above the 20-day moving average (MA) of 1.08, above the 50-day MA of 1.09, and below the 200-day MA of 1.24, indicating a neutral trend. The MACD of 0.01 indicates Negative momentum. The RSI at 63.22 is Neutral, neither overbought nor oversold. The STOCH value of 83.49 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:2150.

Nayuki Holdings Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
6811	68 Neutral	HK$1.05B	11.53	10.47%	5.56%	4.16%	59.08%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
9869	52 Neutral	HK$1.21B	-11.40	-7.85%	25.19%	-36.08%	-206.05%
2150	47 Neutral	HK$1.96B	-3.03	-14.61%	―	-11.19%	-22.98%
0538	47 Neutral	HK$993.30M	83.49	0.38%	7.11%	0.26%	-73.09%
1488	41 Neutral	HK$978.77M	-3.94	―	―	-23.57%	-22.19%