Man King Holdings Limited (2193) AI Stock Analysis

• Market Cap: HK$85.60M
• Dividend Yield: 17.86%
• Average Volume (3M): 50.27K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.06
• Revenue Growth: -0.82%
• EPS Growth: 7.20%
• Country: HK
• Employees: 170
• Sector: Industrials
• Sector Strength: 70
• Industry: Engineering & Construction
• EPS (TTM): -0.07
• Shares Outstanding: 419,594,000
• 10 Day Avg. Volume: 64,000
• 30 Day Avg. Volume: 50,266
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• 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: Hold
• Number of Analyst Covering: 0

• Rating: 44 Neutral
• Price Target: HK$0.00 ▼(-100.00% Downside)

The overall stock score of 44 reflects significant financial challenges, including declining revenues and negative profitability, which are the most impactful factors. The technical analysis suggests a neutral outlook, while the valuation is unattractive due to a negative P/E ratio and lack of dividends. No earnings call or corporate events data were provided to influence the score.

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	-34.53M	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: 0.21
• 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:2193, the sentiment is Positive. The current price of 0.21 is above the 20-day moving average (MA) of 0.20, 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 59.74 is Neutral, neither overbought nor oversold. The STOCH value of 91.11 is Negative, 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	$10.73B	15.32	7.37%	2.01%	2.86%	-14.57%
3878	61 Neutral	HK$80.57M	17.43	1.80%	―	-37.55%	-41.28%
1486	51 Neutral	HK$134.04M	2.40	11.15%	―	4.56%	―
1741	48 Neutral	HK$320.00M	―	-47.66%	―	-34.70%	-388.24%
2193	44 Neutral	HK$85.60M	―	-8.07%	17.86%	-0.82%	7.20%
1429	44 Neutral	HK$62.40M	―	-34.49%	―	-33.74%	-226.24%
8262	40 Underperform	HK$58.17M	―	-11.75%	―	33.77%	56.47%

Man King Holdings Limited Corporate Events

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.

Man King Holdings Reports HK$21.1 Million Loss for FY2025

Man King Holdings Limited reported its financial results for the year ended 31 March 2025, revealing a revenue of HK$335.7 million and a loss attributable to owners of HK$21.1 million. The company experienced a gross loss of HK$11.3 million, with administrative expenses amounting to HK$26.4 million. Despite a slight improvement in operating loss compared to the previous year, the company continues to face financial challenges, impacting its market positioning and stakeholder confidence.

Man King Holdings Proposes Amendments to Align with HKEX Rules

Man King Holdings Limited has announced a proposal to adopt a fourth amended and restated memorandum and articles of association. This move aims to align with recent changes to the Hong Kong Stock Exchange’s Listing Rules, particularly regarding paperless listing and electronic voting. The proposed amendments are subject to shareholder approval at the annual general meeting scheduled for August 28, 2025. This update is expected to enhance the company’s operational efficiency and compliance with modern regulatory standards.

Man King Holdings Limited Updates Nomination Committee Guidelines

Man King Holdings Limited has amended the terms of reference and modus operandi for its Nomination Committee, which is responsible for formulating and implementing the nomination policy for the company’s board of directors. The Committee will focus on maintaining board diversity and skills, identifying qualified candidates for board positions, and ensuring effective succession planning for key roles. This move is aimed at enhancing the company’s corporate governance and aligning its board composition with its strategic goals.

Man King Holdings Limited Announces Board Meeting for Annual Results

Man King Holdings Limited has announced a board meeting scheduled for June 26, 2025, to discuss and approve the annual results for the year ending March 31, 2025, and to consider the payment of a final dividend. This meeting is significant as it will provide insights into the company’s financial performance and potential returns for shareholders.