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Tat Hong Equipment Service Co. Ltd.
(2153)
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Rating:42Neutral
Price Target:
HK$0.81
▼(-13.33% Downside)
Action:Reiterated
Date:07/14/26
The score is held down primarily by weak financial performance—multi-year revenue decline, sharp margin compression, and sustained net losses alongside rising leverage. Technicals also lean negative with the price below key moving averages and slightly negative MACD. Valuation is difficult to support using P/E because the company is loss-making, and no dividend yield data is available.
Positive Factors
Stable operating cash generation
Consistent positive operating cash flow and the return to positive free cash flow indicate the core business can produce liquidity despite earnings losses. Over months this supports working capital, maintenance capex and reduces immediate refinancing pressure, underpinning operational continuity.
Negative Factors
Multi-year revenue decline
A persistent drop in top-line over multiple years erodes scale, weakens pricing leverage and reduces fixed-cost absorption. Structural revenue contraction increases pressure on margins and cash conversion, making recovery more dependent on successful market share or end-market improvements over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable operating cash generation
Consistent positive operating cash flow and the return to positive free cash flow indicate the core business can produce liquidity despite earnings losses. Over months this supports working capital, maintenance capex and reduces immediate refinancing pressure, underpinning operational continuity.
Read all positive factors
Tat Hong Equipment Service Co. Ltd. (2153) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$980.17M
Dividend YieldN/A
Average Volume (3M)199.67K
Price to Earnings (P/E)―
Beta (1Y)0.54
Revenue Growth-6.74%
EPS Growth-2.06%
CountryHK
Employees730
SectorIndustrials
Sector Strength72
IndustryFinancial - Credit Services
Share Statistics
EPS (TTM)-0.10
Shares Outstanding1,166,871,200
10 Day Avg. Volume158,000
30 Day Avg. Volume199,666
Financial Highlights & Ratios
PEG Ratio2.52
Price to Book (P/B)0.82
Price to Sales (P/S)1.72
P/FCF Ratio18.97
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)N/A
Revenue Forecast (FY)N/A
Tat Hong Equipment Service Co. Ltd. Business Overview & Revenue Model
Company Description
Tat Hong Equipment Service Co., Ltd. provides tower crane solution services in the People's Republic of China. The company offers consultation, technical design, commissioning, construction, and after-sales services to infrastructure, clean energy...
How the Company Makes Money
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Tat Hong Equipment Service Co. Ltd. Financial Statement Overview
Summary
Income Statement
26
Negative
Balance Sheet
44
Neutral
Cash Flow
53
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 561.28M | 634.56M | 682.29M | 770.75M | 867.02M |
| Gross Profit | 54.02M | 71.10M | 80.76M | 173.23M | 234.14M |
| EBITDA | 194.89M | 231.88M | 244.75M | 284.95M | 308.39M |
| Net Income | -116.39M | -120.55M | -95.64M | -35.81M | 47.63M |
Balance Sheet | |||||
| Total Assets | 2.88B | 3.11B | 3.08B | 3.15B | 2.92B |
| Cash, Cash Equivalents and Short-Term Investments | 155.86M | 158.56M | 154.51M | 177.48M | 195.22M |
| Total Debt | 1.22B | 1.26B | 1.18B | 1.07B | 700.69M |
| Total Liabilities | 1.70B | 1.80B | 1.66B | 1.64B | 1.35B |
| Stockholders Equity | 1.18B | 1.30B | 1.42B | 1.52B | 1.57B |
Cash Flow | |||||
| Free Cash Flow | 50.85M | 22.18M | -104.33M | -253.33M | -355.15M |
| Operating Cash Flow | 195.78M | 310.83M | 90.67M | 231.58M | 223.97M |
| Investing Cash Flow | -48.67M | -253.61M | -158.58M | -464.23M | -313.90M |
| Financing Cash Flow | -158.41M | -51.31M | 51.33M | 219.00M | 110.73M |
Tat Hong Equipment Service Co. Ltd. Technical Analysis
Neutral
0.93
Price Trends
0.86
Negative
0.90
Negative
0.95
Negative
Market Momentum
>-0.01
Negative
49.61
Neutral
40.74
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2153, the sentiment is Neutral. The current price of 0.93 is above the 20-day moving average (MA) of 0.83, above the 50-day MA of 0.86, and below the 200-day MA of 0.95, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 49.61 is Neutral, neither overbought nor oversold. The STOCH value of 40.74 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:2153.
Tat Hong Equipment Service Co. Ltd. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | HK$12.24B | 8.22 | 11.67% | 4.26% | 9.84% | 27.75% | |
74 Outperform | HK$280.00M | 10.51 | 6.29% | 12.96% | 10.18% | 119.05% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | HK$24.54B | 12.02 | 13.81% | 3.41% | 11.08% | 59.37% | |
57 Neutral | HK$70.61B | 14.38 | 7.49% | 7.28% | 14.66% | 30.39% | |
42 Neutral | HK$1.69B | -52.26 | -1.07% | ― | 5.97% | 53.11% | |
42 Neutral | HK$980.17M | -7.12 | -10.95% | ― | -6.74% | -2.06% |
* Industrials Sector Average
HK:2153
Tat Hong Equipment Service Co. Ltd.
0.84
-0.25
-22.94%
HK:3339
Lonking Holdings
2.85
0.62
28.03%
HK:1122
Qingling Motors Co
0.64
-0.18
-21.95%
HK:0631
Sany Heavy Equipment International Holdings Co
7.50
0.38
5.41%
HK:1157
Zoomlion Heavy Industry Science & Technology Co
6.81
1.14
20.15%
HK:2102
Tak Lee Machinery Holdings Limited
0.29
0.10
52.63%
Tat Hong Equipment Service Co. Ltd. Corporate Events
Tat Hong Launches Tenth Digital Commercial Paper Issue to Boost Working Capital
Jul 9, 2026
Tat Hong Equipment Service Co., Ltd. has expanded its use of digital capital markets by launching the tenth issue of commercial papers in the form of Singapore dollar-denominated digital securities under its SDAX Multicurrency Commercial Paper Fac...
Tat Hong Equipment Service Narrows Annual Loss as Revenue Declines and Dividend Held Back
Jun 12, 2026
Tat Hong Equipment Service Co., Ltd., a crane and construction equipment service provider focused on the Chinese infrastructure and industrial markets, reported a decline in revenue and continued losses for the year ended 31 March 2026. The compan...
Tat Hong reshuffles company secretary and authorized representative roles
Jun 12, 2026
Tat Hong Equipment Service Co. Ltd. announced the resignation of Ms. Oh Sim Yee as company secretary, authorized representative under Hong Kong listing rules, and process agent for service of legal documents, effective 12 June 2026. The company st...
Tat Hong sets June 2026 board meeting to approve annual results and consider dividend
Jun 2, 2026
Tat Hong Equipment Service Co., Ltd. has scheduled a board meeting for 12 June 2026 to review and approve the annual results for the financial year ended 31 March 2026, and to authorize their publication. The board will also consider whether to re...
Tat Hong Shareholders Back Renewal of Yongmao Connected Transaction
Apr 15, 2026
Independent shareholders of Tat Hong Equipment Service Co., Ltd. have overwhelmingly approved the renewal of a continuing connected transaction under a new Yongmao master agreement at an extraordinary general meeting held on 15 April 2026. With 81...
Tat Hong Clarifies Share Option Capacity in 2025 Annual Report Addendum
Apr 14, 2026
Tat Hong Equipment Service Co., Ltd. has issued a supplemental announcement to its annual report for the year ended 31 March 2025, clarifying details of its share option scheme. As of the report date, 116,687,125 shares, representing 10% of its is...
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.