Crystal International Group Limited (2232) AI Stock Analysis

• Market Cap: HK$19.88B
• Dividend Yield: 5.97%
• Average Volume (3M): 2.82M
• Price to Earnings (P/E): 11.9
• Beta (1Y): 0.44
• Revenue Growth: 14.76%
• EPS Growth: 23.04%
• Country: HK
• Employees: 75,000
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Apparel - Manufacturers
• EPS (TTM): 0.26
• Shares Outstanding: 2,852,822,000
• 10 Day Avg. Volume: 3,665,922
• 30 Day Avg. Volume: 2,820,043
• PEG Ratio: 0.35
• Price to Book (P/B): 1.05
• Price to Sales (P/S): 0.65
• P/FCF Ratio: -493.76
• 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$7.25
• Price Target Upside: 14.17% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 6
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 71 Outperform
• Price Target: HK$7.50 ▲(18.11% Upside)

Crystal International Group Limited demonstrates strong financial performance with solid profitability and a healthy balance sheet, though cash flow management needs attention. The stock's valuation is attractive with a reasonable P/E ratio and a high dividend yield. Technical indicators show a positive price trend, although momentum may be slowing. These factors collectively contribute to a favorable stock score.

Crystal International Group Limited Business Overview & Revenue Model

Company Description

Crystal International Group Limited (2232) is a leading global apparel manufacturer headquartered in Hong Kong. The company operates in the garment manufacturing sector, specializing in the design, development, and production of a wide range of apparel products. Crystal International serves well-known international brands, offering a diverse portfolio that includes casual wear, denim, intimate wear, sportswear, outdoor apparel, and knitwear.

How the Company Makes Money

Crystal International Group Limited generates revenue primarily through the manufacturing and sale of apparel products to major global fashion brands and retailers. The company collaborates closely with its clients to deliver high-quality garments that meet specific brand requirements and consumer expectations. Key revenue streams include the production and sale of denim, casual knitwear, intimate wear, and sportswear. Crystal International also leverages strategic partnerships and long-term relationships with prominent fashion retailers, ensuring consistent demand for its manufacturing services. The company's ability to maintain competitive pricing, efficient production processes, and a strong supply chain network further supports its earnings.

Crystal International Group Limited Financial Statement Overview

Summary

Crystal International Group Limited exhibits strong profitability and a solid balance sheet with significant revenue and profit growth. However, cash flow management presents potential concerns, which slightly detract from the overall financial performance.

Income Statement

Crystal International Group Limited shows a stable financial performance with a gross profit margin of 19.69% and a net profit margin of 8.12% for the latest year. The company has demonstrated revenue growth of 13.42% from the previous year, indicating a positive trajectory. EBIT and EBITDA margins at 9.31% and 12.18% respectively reflect a healthy operating efficiency.

Balance Sheet

The company maintains a strong financial position with a low debt-to-equity ratio of 0.11, suggesting minimal leverage risk. The return on equity is 13.10%, indicating effective use of equity to generate profits. An equity ratio of 67.89% highlights a solid financial structure with substantial assets funded by equity.

Cash Flow

Cash flow metrics indicate some challenges, with operating cash flow to net income ratio not calculable due to zero operating cash flow reported. The free cash flow has not shown growth, and the free cash flow to net income ratio is also not calculable for the latest period, suggesting potential concerns in cash management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.61B	2.47B	2.18B	2.49B	2.34B	1.99B
Gross Profit	515.37M	486.22M	417.78M	477.62M	447.61M	385.87M
EBITDA	317.28M	300.88M	248.03M	295.71M	260.81M	202.19M
Net Income	214.75M	200.50M	163.48M	172.73M	163.11M	108.08M
Balance Sheet
Total Assets	2.34B	2.25B	1.97B	1.89B	1.96B	1.78B
Cash, Cash Equivalents and Short-Term Investments	638.03M	573.46M	607.14M	455.06M	401.27M	383.43M
Total Debt	146.38M	174.70M	89.89M	132.52M	198.43M	202.49M
Total Liabilities	797.28M	719.01M	535.66M	549.67M	666.18M	618.13M
Stockholders Equity	1.54B	1.53B	1.43B	1.34B	1.29B	1.16B
Cash Flow
Free Cash Flow	930.00K	-3.25M	269.05M	257.40M	124.46M	265.88M
Operating Cash Flow	61.92M	105.54M	312.97M	349.15M	189.86M	323.85M
Investing Cash Flow	-192.30M	-167.93M	-88.42M	-135.48M	-84.99M	-43.39M
Financing Cash Flow	12.92M	-53.85M	-134.74M	-144.58M	-93.71M	-161.06M

Crystal International Group Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 6.35
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2232, the sentiment is Neutral. The current price of 6.35 is below the 20-day moving average (MA) of 6.73, below the 50-day MA of 6.83, and above the 200-day MA of 5.32, indicating a neutral trend. The MACD of 0.03 indicates Negative momentum. The RSI at 47.53 is Neutral, neither overbought nor oversold. The STOCH value of 51.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:2232.

Crystal International Group Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
3998	78 Outperform	$55.62B	14.14	22.98%	5.88%	10.50%	10.34%
2313	78 Outperform	$99.36B	14.19	18.24%	4.02%	15.93%	20.70%
2299	72 Outperform	HK$10.06B	11.70	7.26%	―	-6.79%	66.07%
2232	71 Outperform	HK$19.88B	11.89	14.24%	5.97%	14.76%	23.04%
1234	69 Neutral	€4.07B	8.91	10.67%	8.24%	3.23%	-21.82%
1382	63 Neutral	HK$1.97B	11.82	5.75%	8.57%	8.41%	0.84%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%

Crystal International Group Limited Corporate Events

Crystal International Granted Waiver for Circular Dispatch Delay

Crystal International Group Limited has announced that it has received a waiver from the Hong Kong Stock Exchange to extend the dispatch date of a Circular related to major transactions involving factoring programs for customer receivables. This extension, now set for on or before September 30, 2025, allows the company additional time to prepare and finalize necessary information. The waiver is conditional, with the Hong Kong Stock Exchange retaining the right to withdraw or change it if the company’s circumstances change.

The most recent analyst rating on (HK:2232) stock is a Buy with a HK$8.50 price target. To see the full list of analyst forecasts on Crystal International Group Limited stock, see the HK:2232 Stock Forecast page.

Crystal International Announces Further Delay in Circular Dispatch

Crystal International Group Limited, a company involved in major transactions related to factoring programs for customers’ receivables, has announced a further delay in the dispatch of a circular. The company has been granted a waiver by the Hong Kong Stock Exchange to extend the dispatch date to on or before 30 September 2025, as more time is needed to prepare and finalize the necessary information.

The most recent analyst rating on (HK:2232) stock is a Buy with a HK$8.50 price target. To see the full list of analyst forecasts on Crystal International Group Limited stock, see the HK:2232 Stock Forecast page.

Crystal International Reports Strong Interim Financial Performance

Crystal International Group Limited reported a revenue of US$1,229 million for the first half of 2025, marking an increase from US$1,094 million in the same period of 2024. The company’s net profit also rose to US$98 million from US$84 million, and it declared an interim dividend of HK16.3 cents per share. These results indicate a positive financial performance and suggest a strong market position, benefiting stakeholders with increased profitability and dividends.

The most recent analyst rating on (HK:2232) stock is a Buy with a HK$6.00 price target. To see the full list of analyst forecasts on Crystal International Group Limited stock, see the HK:2232 Stock Forecast page.

Crystal International Declares Interim Dividend for 2025

Crystal International Group Limited has announced an interim cash dividend of HKD 0.163 per share for the six months ending June 30, 2025. This announcement reflects the company’s financial performance and commitment to returning value to its shareholders, with the payment scheduled for September 18, 2025.

The most recent analyst rating on (HK:2232) stock is a Buy with a HK$6.00 price target. To see the full list of analyst forecasts on Crystal International Group Limited stock, see the HK:2232 Stock Forecast page.

Crystal International Announces Further Delay in Circular Dispatch

Crystal International Group Limited has announced a further delay in the dispatch of its Circular related to major transactions concerning factoring programmes for customers’ receivables. The company, which had initially extended the dispatch date to on or before August 12, 2025, now expects the Circular to be dispatched by August 29, 2025, due to the need for additional time to finalize certain information. This delay, granted a waiver by the Hong Kong Stock Exchange, may impact stakeholders awaiting these details.

The most recent analyst rating on (HK:2232) stock is a Hold with a HK$5.30 price target. To see the full list of analyst forecasts on Crystal International Group Limited stock, see the HK:2232 Stock Forecast page.

Crystal International Schedules Board Meeting to Discuss Interim Results and Dividend

Crystal International Group Limited has announced that its board of directors will meet on August 20, 2025, to approve the interim results for the first half of the year and consider the payment of an interim dividend. This meeting is significant as it could impact the company’s financial strategy and shareholder returns, reflecting its ongoing commitment to transparency and stakeholder engagement.

The most recent analyst rating on (HK:2232) stock is a Buy with a HK$6.25 price target. To see the full list of analyst forecasts on Crystal International Group Limited stock, see the HK:2232 Stock Forecast page.