Man King Holdings Limited (2193) AI Stock Analysis

• Market Cap: HK$88.95M
• Dividend Yield: N/A
• Average Volume (3M): 16.53K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.08
• Revenue Growth: -1.91%
• EPS Growth: 18.30%
• Country: HK
• Employees: 170
• Sector: Industrials
• Sector Strength: 72
• Industry: Engineering & Construction
• EPS (TTM): 0.02
• Shares Outstanding: 419,594,000
• 10 Day Avg. Volume: 30,000
• 30 Day Avg. Volume: 16,533
• PEG Ratio: 0.54
• Price to Book (P/B): 0.33
• Price to Sales (P/S): 0.25
• P/FCF Ratio: -2.69
• 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: 45 Neutral
• Price Target: HK$0.20 ▼(-8.18% Downside)

The overall stock score is primarily impacted by the company's poor financial performance, characterized by declining revenues and negative profitability. Technical analysis indicates a lack of strong momentum, while valuation metrics are unattractive due to a negative P/E ratio and no dividend yield. The absence of earnings call and corporate events data limits further insights.

Positive Factors

Low Leverage

The company's low leverage ratio suggests conservative financial management, which can provide stability and flexibility in uncertain economic conditions.

Positive Free Cash Flow Growth

Despite being from a negative base, positive free cash flow growth indicates potential for improved cash management and operational efficiency over time.

Diverse Revenue Streams

Diverse revenue channels, including wholesale and retail, help mitigate risks associated with market fluctuations and enhance revenue stability.

Negative Factors

Declining Revenue

Consistent revenue decline indicates challenges in market demand or competitive positioning, potentially impacting long-term growth prospects.

Negative Profitability

Negative profitability metrics highlight operational inefficiencies and could strain resources, affecting the company's ability to invest in growth initiatives.

Negative Cash Flow

Negative operating cash flow suggests difficulties in generating sufficient cash from core operations, potentially leading to liquidity issues.

Man King Holdings Limited Business Overview & Revenue Model

Company Description

Man King Holdings Limited, an investment holding company, provides construction and civil engineering services to the public and private sectors in Hong Kong. It undertakes road and bridge, drainage and sewage, port work, site formation, public filling management, environmental, water work, electrical and mechanical, and building projects. The company was founded in 1995 and is based in Kowloon, Hong Kong. Man King Holdings Limited is a subsidiary of Jade Vantage Holdings Limited.

How the Company Makes Money

Man King Holdings Limited generates revenue primarily through the sale of its furniture products, which includes office and home furnishings. The company operates a business model that encompasses both wholesale and retail channels, catering to a diverse range of customers, from individual consumers to corporate clients. Key revenue streams are derived from direct sales to retailers, bulk orders from corporations, and bespoke furniture solutions for specific projects. Additionally, partnerships with distribution networks and collaborations with interior design firms enhance its market reach and contribute to its earnings. The company also benefits from economies of scale in production, allowing it to maintain competitive pricing while ensuring profitability.

Man King Holdings Limited Financial Statement Overview

Summary

Man King Holdings Limited faces significant financial challenges, with declining revenues and negative profitability metrics across the board. While the company maintains a low leverage ratio, its negative return on equity and cash flow issues highlight operational inefficiencies and potential liquidity concerns.

Income Statement

The company has experienced declining revenue over the past year, with a negative revenue growth rate of -3.11%. Margins have also deteriorated significantly, with gross profit margin at -3.36% and net profit margin at -6.29%, indicating operational challenges and inefficiencies. The negative EBIT and EBITDA margins further highlight profitability issues.

Balance Sheet

The balance sheet shows a relatively low debt-to-equity ratio of 0.048, suggesting conservative leverage. However, the return on equity is negative at -8.41%, reflecting poor profitability and returns for shareholders. The equity ratio is not explicitly calculated, but the company maintains a stable equity base relative to its assets.

Cash Flow

Cash flow analysis reveals negative operating cash flow, indicating cash management issues. The free cash flow to net income ratio is slightly above 1, suggesting that free cash flow is aligned with net income, albeit both are negative. The free cash flow growth rate is positive at 9.05%, but this is from a negative base, which limits its positive impact.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	346.48M	335.70M	338.49M	452.78M	408.20M	276.55M
Gross Profit	-18.01M	-11.26M	-26.64M	69.62M	51.41M	29.40M
EBITDA	-30.30M	-10.84M	-14.47M	46.49M	34.54M	9.28M
Net Income	-22.71M	-21.13M	-22.74M	42.13M	36.92M	15.74M
Balance Sheet
Total Assets	396.44M	371.34M	412.77M	461.53M	415.89M	315.84M
Cash, Cash Equivalents and Short-Term Investments	196.92M	186.26M	180.83M	239.92M	158.43M	117.96M
Total Debt	14.57M	12.24M	10.48M	16.29M	19.79M	3.64M
Total Liabilities	117.91M	120.10M	140.34M	150.69M	136.76M	62.28M
Stockholders Equity	278.53M	251.24M	272.43M	310.84M	279.12M	253.56M
Cash Flow
Free Cash Flow	-28.01M	-30.54M	-58.18M	104.61M	52.66M	51.90M
Operating Cash Flow	-23.80M	-30.29M	-52.21M	108.07M	66.50M	56.63M
Investing Cash Flow	-26.66M	21.99M	-6.63M	-4.59M	-11.62M	-1.36M
Financing Cash Flow	-1.45M	-1.94M	-22.63M	-21.42M	-13.92M	-2.67M

Man King Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.22
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2193, the sentiment is Positive. The current price of 0.22 is above the 20-day moving average (MA) of 0.21, above the 50-day MA of 0.21, and above the 200-day MA of 0.21, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 97.81 is Negative, neither overbought nor oversold. The STOCH value of 63.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:2193.

Man King Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
3878	63 Neutral	HK$95.92M	19.80	1.45%	―	-19.27%	-47.47%
1486	58 Neutral	HK$250.79M	4.49	11.15%	―	4.56%	―
1741	48 Neutral	HK$150.40M	-3.78	-47.66%	―	-34.70%	-388.24%
2193	45 Neutral	HK$88.95M	―	-6.89%	―	-1.91%	18.30%
1429	44 Neutral	HK$139.20M	-1.32	-27.98%	―	-8.31%	-56.88%
8262	40 Underperform	HK$49.86M	-4.35	-12.85%	―	8.74%	48.76%

Man King Holdings Limited Corporate Events

Man King Holdings to Review Interim Results and Dividend

Man King Holdings Limited has announced a board meeting scheduled for November 26, 2025, to discuss and approve the interim results for the six months ending September 30, 2025, and consider the payment of an interim dividend. This meeting is significant as it will provide insights into the company’s financial performance and potential returns for shareholders, impacting its market positioning and stakeholder interests.

Man King Holdings Limited Successfully Passes All AGM Resolutions

Man King Holdings Limited announced that all proposed resolutions were successfully passed during its Annual General Meeting held on 28 August 2025. Key resolutions included the re-election of directors, authorization of director remuneration, re-appointment of auditors, and granting of mandates for share issuance and buybacks, reflecting strong shareholder support and strategic alignment for future growth.

Man King Holdings Limited Announces Annual General Meeting and Key Resolutions

Man King Holdings Limited has announced its Annual General Meeting to be held on August 28, 2025, in Hong Kong. The meeting will address several key resolutions, including the re-election of directors, approval of directors’ remuneration, and re-appointment of auditors. Additionally, the company seeks approval to authorize its directors to allot and issue shares, with a cap set at 20% of the total shares in issue. This meeting is significant for stakeholders as it outlines the company’s governance and strategic decisions for the coming year.