Crystal International Group Limited (2232) AI Stock Analysis

• Market Cap: HK$16.92B
• Dividend Yield: 4.3%
• Average Volume (3M): 6.54M
• Price to Earnings (P/E): 10.8
• Beta (1Y): 0.37
• Revenue Growth: 13.03%
• EPS Growth: 22.23%
• Country: HK
• Employees: 75,000
• Sector: Consumer Cyclical
• Sector Strength: 72
• Industry: Apparel - Manufacturers
• EPS (TTM): 0.32
• Shares Outstanding: 2,852,822,000
• 10 Day Avg. Volume: 4,339,010
• 30 Day Avg. Volume: 6,542,779
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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$5.65
• Price Target Upside: -4.72% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 81 Outperform
• Price Target: HK$6.00 ▲(1.18% Upside)

Crystal International Group Limited is rated highly due to strong market momentum and attractive valuation metrics, including a low P/E ratio and high dividend yield. While financial performance is robust, minor concerns over cash flow management slightly reduce the overall 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	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.47B	2.18B	2.49B	2.34B	1.99B
Gross Profit	486.22M	417.78M	477.62M	447.61M	385.87M
EBITDA	300.88M	248.03M	295.71M	260.81M	202.19M
Net Income	200.50M	163.48M	172.73M	163.11M	108.08M
Balance Sheet
Total Assets	2.25B	1.97B	1.89B	1.96B	1.78B
Cash, Cash Equivalents and Short-Term Investments	573.46M	607.14M	455.06M	401.27M	383.43M
Total Debt	174.70M	89.89M	132.52M	198.43M	202.49M
Total Liabilities	719.01M	535.66M	549.67M	666.18M	618.13M
Stockholders Equity	1.53B	1.43B	1.34B	1.29B	1.16B
Cash Flow
Free Cash Flow	-3.25M	269.05M	257.40M	124.46M	265.88M
Operating Cash Flow	105.54M	312.97M	349.15M	189.86M	323.85M
Investing Cash Flow	-167.93M	-88.42M	-135.48M	-84.99M	-43.39M
Financing Cash Flow	-53.85M	-134.74M	-144.58M	-93.71M	-161.06M

Crystal International Group Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 5.93
• 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:2232, the sentiment is Positive. The current price of 5.93 is above the 20-day moving average (MA) of 5.69, above the 50-day MA of 5.16, and above the 200-day MA of 4.62, indicating a bullish trend. The MACD of 0.23 indicates Negative momentum. The RSI at 71.10 is Negative, neither overbought nor oversold. The STOCH value of 73.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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
2232	81 Outperform	HK$16.92B	10.81	13.55%	4.30%	13.03%	22.23%
3998	75 Outperform	HK$51.63B	13.20	22.98%	5.87%	10.50%	10.34%
2313	75 Outperform	$84.93B	12.55	18.17%	4.03%	12.76%	34.50%
1234	74 Outperform	€4.59B	9.17	11.40%	9.19%	1.38%	-14.80%
1382	71 Outperform	HK$2.06B	12.32	5.75%	8.11%	8.41%	0.84%
2299	65 Neutral	HK$9.29B	11.49	7.06%	―	14.35%	107.03%
Sector *	56 Neutral	HK$25.31B	4.75	-2.69%	5.60%	-0.46%	-53.17%

Crystal International Group Limited Corporate Events

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.

Crystal International Delays Circular Dispatch for Factoring Transactions

Crystal International Group Limited has announced a delay in the dispatch of a circular related to major transactions involving factoring programs for customers’ receivables. The circular, initially expected by July 22, 2025, will now be dispatched by August 12, 2025, due to the need for additional time to finalize certain information.

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 Forms Nomination Committee for Board Oversight

Crystal International Group Limited has established a nomination committee to oversee the appointment and structure of its board of directors. The committee, consisting mainly of independent non-executive directors, will meet at least once a year to ensure effective governance and decision-making processes within the company.

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 Joins Factoring Programs to Mitigate Customer Default Risks

Crystal International Group Limited has announced its participation in non-recourse factoring programs for customers’ receivables with various financial institutions, including Citibank and HSBC. This strategic move aims to mitigate potential default risks associated with customer payments, thereby enhancing the company’s financial stability and operational efficiency.

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.

Crystal International’s AGM Resolutions Passed with Strong Shareholder Support

Crystal International Group Limited held its Annual General Meeting on May 30, 2025, where all proposed resolutions were passed. Key resolutions included the approval of financial statements, declaration of dividends, re-election of directors, and granting of mandates for share repurchase and issuance. The successful passage of these resolutions reflects strong shareholder support and positions the company for continued operational and strategic initiatives.

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.