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New Concepts Holdings Ltd
(2221)
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Rating:43Neutral
Price Target:
HK$0.91
▼(-12.79% Downside)
Action:Reiterated
Date:03/24/26
The score is held back mainly by weak and volatile profitability (return to losses, falling margins, negative ROE) despite improved cash generation and a less-stressed balance sheet. Technicals are mixed with a weak short-term trend, and valuation support is limited because the company is loss-making and no dividend yield is provided.
Positive Factors
Revenue Growth
Revenue rebounded ~36% in FY2025, showing the company can win and execute contracts. Durable contract-driven top-line growth increases scale and backlog visibility, helping spread fixed costs across projects and supporting potential operating leverage if margins stabilize.
Negative Factors
Weak Profitability
Gross margin compressed to ~6.3% and the company reported a sizable net loss (net margin ~-8.7%) in FY2025. Persistent weak margins and losses point to structurally challenged project economics, limiting the firm's ability to reinvest, service stakeholders, and build retained earnings without improving pricing or cost control.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Revenue rebounded ~36% in FY2025, showing the company can win and execute contracts. Durable contract-driven top-line growth increases scale and backlog visibility, helping spread fixed costs across projects and supporting potential operating leverage if margins stabilize.
Read all positive factors
New Concepts Holdings Ltd (2221) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$142.17M
Dividend YieldN/A
Average Volume (3M)597.88K
Price to Earnings (P/E)―
Beta (1Y)0.74
Revenue Growth-20.67%
EPS Growth37.35%
CountryHK
Employees280
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)-0.28
Shares Outstanding229,303,200
10 Day Avg. Volume315,760
30 Day Avg. Volume597,880
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)0.51
Price to Sales (P/S)0.25
P/FCF Ratio0.00
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
New Concepts Holdings Ltd Business Overview & Revenue Model
Company Description
New Concepts Holdings Limited functions as an investment holding enterprise with core operations in the construction industry across both Hong Kong and Mainland China. The company's business is divided into two primary divisions: Construction Work...
How the Company Makes Money
The company generates revenue predominantly through contractual agreements for foundation work, construction engineering, and project management services. New Concepts Holdings Ltd undertakes infrastructure-building projects that include excavatio...
New Concepts Holdings Ltd Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
46
Neutral
Cash Flow
52
Neutral
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 737.13M | 929.24M | 628.24M | 545.19M | 654.85M |
| Gross Profit | 83.85M | 58.99M | 61.09M | 53.56M | 82.80M |
| EBITDA | -15.31M | -48.97M | 73.86M | 23.18M | 78.98M |
| Net Income | -58.36M | -80.71M | 2.86M | -20.80M | 5.50M |
Balance Sheet | |||||
| Total Assets | 1.04B | 1.21B | 1.10B | 1.03B | 812.60M |
| Cash, Cash Equivalents and Short-Term Investments | 33.30M | 115.17M | 37.32M | 134.54M | 117.46M |
| Total Debt | 276.15M | 254.30M | 204.50M | 218.87M | 80.75M |
| Total Liabilities | 644.28M | 833.93M | 637.59M | 626.99M | 573.16M |
| Stockholders Equity | 352.84M | 319.77M | 399.25M | 359.38M | 191.04M |
Cash Flow | |||||
| Free Cash Flow | 0.00 | 20.16M | -53.94M | -252.41M | 86.19M |
| Operating Cash Flow | 0.00 | 36.14M | -33.75M | -14.14M | 102.70M |
| Investing Cash Flow | 0.00 | -60.86M | -49.57M | -263.89M | -9.04M |
| Financing Cash Flow | 0.00 | 102.69M | 5.03M | 307.58M | -43.76M |
New Concepts Holdings Ltd Technical Analysis
Negative
1.04
Price Trends
0.71
Negative
0.82
Negative
0.92
Negative
Market Momentum
-0.04
Positive
40.81
Neutral
49.21
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2221, the sentiment is Negative. The current price of 1.04 is above the 20-day moving average (MA) of 0.64, above the 50-day MA of 0.71, and above the 200-day MA of 0.92, indicating a bearish trend. The MACD of -0.04 indicates Positive momentum. The RSI at 40.81 is Neutral, neither overbought nor oversold. The STOCH value of 49.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2221.
New Concepts Holdings Ltd Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | HK$990.00M | 3.44 | 15.75% | 9.09% | 15.16% | 25.81% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
56 Neutral | HK$104.68M | 18.10 | 10.96% | 25.00% | 126.51% | ― | |
54 Neutral | HK$559.29M | 50.00 | 3.56% | ― | 14.96% | 512.50% | |
51 Neutral | HK$1.28B | -4,463.58 | -0.11% | ― | -2.02% | -101.97% | |
46 Neutral | HK$232.17M | -1.15 | -15.28% | 7.35% | 13.50% | -106.11% | |
43 Neutral | HK$142.17M | -2.21 | -16.86% | ― | -20.67% | 37.35% |
* Industrials Sector Average
HK:2221
New Concepts Holdings Ltd
0.62
-0.13
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New Concepts Holdings Ltd Corporate Events
New Concepts Holdings Calls EGM to Approve Finance Lease Deal
Jul 24, 2026
New Concepts Holdings Ltd has called an extraordinary general meeting for 31 August 2026 in Hong Kong, seeking shareholder approval for a finance lease arrangement and related documentation. The board is asking investors to endorse both the transa...
New Concepts Holdings Delays Circular on Major Finance Lease Deal
Jul 17, 2026
New Concepts Holdings Ltd, a Cayman Islands-incorporated investment holding company listed on the Hong Kong Stock Exchange under stock code 2221, engages in finance lease-related activities and is overseen by a board that includes both executive a...
New Concepts Tightens Loan Controls After Independent Review Flags Deficiencies
Jul 3, 2026
New Concepts Holdings Limited has completed an independent internal control review following a discloseable transaction involving the provision of financial assistance. The company engaged PRO-WIS Risk Advisory Services as its consultant to assess...
New Concepts Holdings Narrows Annual Loss Amid Revenue Decline and Rising Gearing
Jun 29, 2026
New Concepts Holdings reported a 20.7% year-on-year decline in revenue to HK$737.1 million for the year ended 31 March 2026, reflecting softer business volumes, but gross profit rose 42.1% to HK$83.9 million, indicating improved margins. The group...
New Concepts Holdings Flags Narrowed Annual Loss on Stronger Construction Margin
Jun 25, 2026
New Concepts Holdings Limited has warned that it expects to post a reduced net loss attributable to shareholders of not more than HK$60 million for the year ended 31 March 2026, narrowing from a loss of about HK$80.7 million a year earlier. The im...
New Concepts Updates Market on Chairman’s Role in China Water Winding-Up
Jun 18, 2026
New Concepts Holdings has disclosed an update on the personal regulatory information of its chairman and executive director, Zhu Yongjun, following a winding-up order issued against another listed company where he also serves as chairman. The move...
New Concepts Holdings Sets June Board Meeting to Approve 2026 Annual Results
Jun 16, 2026
New Concepts Holdings Limited has scheduled a board meeting for 29 June 2026 to review and approve the annual results for the financial year ended 31 March 2026. The board will also consider whether to recommend a final dividend, a decision that c...
New Concepts Holdings Restructures Major Finance Lease with Wanjiang Leasing
May 29, 2026
New Concepts Holdings has moved to replace a previous finance lease by arranging a new sale-and-leaseback of certain assets with Wanjiang Leasing, under which its subsidiary will sell leased assets for RMB70 million and lease them back over six ye...
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.