Great Harvest Maeta Holdings Limited (3683) AI Stock Analysis

• Market Cap: HK$78.11M
• Dividend Yield: N/A
• Average Volume (3M): 49.00K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.29
• Revenue Growth: -74.22%
• EPS Growth: 23.27%
• Country: HK
• Employees: 79
• Sector: Industrials
• Sector Strength: 72
• Industry: Marine Shipping
• EPS (TTM): -0.03
• Shares Outstanding: 952,613,500
• 10 Day Avg. Volume: 61,250
• 30 Day Avg. Volume: 49,000
• PEG Ratio: -0.03
• Price to Book (P/B): 1.95
• Price to Sales (P/S): 0.91
• P/FCF Ratio: -303.11
• 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: 39 Underperform
• Price Target: HK$0.08 ▼(-6.25% Downside)

The score is primarily weighed down by weak financial performance (persistent losses, high leverage, and poor cash flow), with technicals also showing a broadly bearish trend. Valuation provides limited support due to negative earnings and no indicated dividend yield.

Positive Factors

Diverse revenue streams (retail, wholesale, private label)

Multiple sales channels and private-label manufacturing reduce customer concentration risk and create recurring contract revenue. Strategic supplier and distributor partnerships can lock in cost advantages and shelf presence, supporting stable top-line access and margin resilience over months.

Product diversity and innovation focus

A broad product portfolio and stated emphasis on quality/innovation help maintain consumer relevance and enable quicker responses to changing tastes. This supports repeat purchase behavior and shelf space, aiding revenue stability and brand strength across retail and wholesale channels over a medium-term horizon.

Reported EPS growth

Positive EPS growth suggests some improvement in per-share earnings, which can indicate operational leverage, cost control, or favorable mix shifts. If sustained, rising EPS can support balance-sheet repair and investor confidence; it warrants monitoring for convertibility into cash flow.

Negative Factors

Severe revenue decline

A steep, persistent top-line contraction materially reduces scale economics, bargaining power with retailers, and capacity utilization. Over months this undermines ability to cover fixed costs, reinvest in product development, and maintain distribution relationships, worsening competitive position.

Weak cash generation and negative FCF growth

Poor operating cash conversion and negative free cash flow indicate reliance on external financing to fund operations and capex. This reduces financial flexibility, raises refinancing risk, and limits the company's ability to invest in marketing, innovation, or supply-chain improvements over the medium term.

High leverage and fragile balance sheet

Elevated and rising leverage with low equity cushions increases solvency risk and interest burden. A fragile balance sheet constrains strategic choices, raises default risk in downturns, and makes sustained recovery harder without deleveraging or fresh capital, affecting long-term viability.

Great Harvest Maeta Holdings Limited Business Overview & Revenue Model

Company Description

Great Harvest Maeta Holdings Limited, an investment holding company, engages in chartering dry bulk vessels worldwide. It operates through Chartering of Vessels; and Property Investment and Development segments. The company owns four vessels with total carrying capacity of 319,923 deadweight tonnage. It also provides marine transportation and agency services. The company was formerly known as Great Harvest Maeta Group Holdings Limited and changed its name to Great Harvest Maeta Holdings Limited in September 2021. Great Harvest Maeta Holdings Limited was incorporated in 2010 and is headquartered in Wan Chai, Hong Kong.

How the Company Makes Money

Great Harvest Maeta Holdings Limited generates revenue through multiple streams, primarily from the sales of its food products, which include freshly baked goods, packaged snacks, and other processed items. The company leverages a combination of direct-to-consumer sales through its retail outlets and partnerships with supermarkets and distributors to expand its market reach. Additionally, Great Harvest may engage in private label manufacturing for other food brands, providing a steady source of income. Strategic partnerships with local suppliers and distributors also enhance its supply chain efficiency, helping to reduce costs and increase profit margins. The company's focus on quality and innovation, along with effective marketing strategies, contributes significantly to its overall earnings.

Great Harvest Maeta Holdings Limited Financial Statement Overview

Summary

Financial statements indicate significant stress: declining revenue, consistently negative margins and losses, high and rising leverage with negative ROE, and weak cash generation with negative free cash flow trends—raising liquidity and sustainability risks.

Income Statement

The income statement shows a concerning trend with declining revenue and negative profit margins over the years. The gross profit margin turned negative in the latest year, and net profit margin has been consistently negative, indicating ongoing losses. Revenue growth has been negative, reflecting a shrinking top line. These factors suggest significant challenges in generating profits and managing costs.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio, which has increased significantly, indicating high leverage and potential financial risk. Return on equity is negative, reflecting losses and poor returns for shareholders. The equity ratio is low, suggesting limited equity financing relative to total assets. Overall, the balance sheet indicates financial instability and high reliance on debt.

Cash Flow

Cash flow analysis shows negative free cash flow growth and a low free cash flow to net income ratio, indicating challenges in generating cash from operations. The operating cash flow to net income ratio is low, further highlighting inefficiencies in converting income to cash. These factors suggest liquidity issues and difficulties in sustaining operations without external financing.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	4.76M	14.04M	13.45M	18.23M	21.56M	12.45M
Gross Profit	-765.05K	-1.10M	510.00K	2.05M	10.57M	1.15M
EBITDA	3.78M	-2.23M	4.63M	-3.44M	31.25M	2.24M
Net Income	-5.91M	-10.38M	-7.13M	-17.09M	24.72M	-3.26M
Balance Sheet
Total Assets	92.18M	92.74M	115.21M	132.99M	153.73M	131.03M
Cash, Cash Equivalents and Short-Term Investments	2.78M	167.00K	1.10M	2.06M	2.88M	316.00K
Total Debt	58.38M	57.08M	63.07M	72.49M	74.51M	80.62M
Total Liabilities	83.68M	81.92M	92.75M	102.25M	102.00M	105.73M
Stockholders Equity	4.13M	6.52M	18.05M	26.51M	47.14M	20.84M
Cash Flow
Free Cash Flow	-1.07M	-42.00K	2.19M	4.47M	10.37M	-353.00K
Operating Cash Flow	-1.07M	1.43M	2.86M	6.12M	12.06M	2.55M
Investing Cash Flow	4.47M	4.49M	10.33M	-1.55M	-1.77M	-2.90M
Financing Cash Flow	-2.36M	-6.81M	-14.18M	-5.21M	-7.82M	307.00K

Great Harvest Maeta Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.08
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3683, the sentiment is Negative. The current price of 0.08 is below the 20-day moving average (MA) of 0.08, below the 50-day MA of 0.08, and below the 200-day MA of 0.10, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 47.28 is Neutral, neither overbought nor oversold. The STOCH value of 46.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:3683.

Great Harvest Maeta Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2682	72 Outperform	HK$147.00M	6.26	8.64%	6.71%	2.81%	23.68%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
1719	62 Neutral	HK$586.52M	50.00	1.52%	―	19.79%	-33.33%
1145	53 Neutral	HK$173.44M	-17.36	-2.23%	―	-11.79%	25.41%
1549	43 Neutral	HK$153.45M	20.20	3.67%	―	17.91%	―
0351	41 Neutral	HK$598.49M	-25.86	-20.27%	―	-37.93%	-152.17%
3683	39 Underperform	HK$78.11M	-1.65	-83.05%	―	-74.22%	23.27%

Great Harvest Maeta Holdings Limited Corporate Events

Great Harvest Maeta Holdings Reports Significant Revenue Drop in Interim Results

Great Harvest Maeta Holdings Limited reported its unaudited consolidated interim results for the six months ending September 30, 2025, revealing a significant decrease in revenue from US$11,560,000 in 2024 to US$2,270,000 in 2025. Despite a reduction in operating loss compared to the previous year, the company still faced a net loss of US$3,179,000, highlighting ongoing financial challenges. The results indicate a tough operating environment and suggest potential implications for stakeholders regarding the company’s financial health and future strategies.

The most recent analyst rating on (HK:3683) stock is a Sell with a HK$0.08 price target. To see the full list of analyst forecasts on Great Harvest Maeta Holdings Limited stock, see the HK:3683 Stock Forecast page.

Great Harvest Maeta Holdings Takes Steps to Resolve Financial Disclaimer

Great Harvest Maeta Holdings Limited has implemented several strategic measures to address a disclaimer of opinion in its financial report for the year ending March 2025. The company is actively negotiating with bondholders for alternative settlement proposals, seeking financial support from its ultimate holding company, and exploring financing opportunities through banks and capital markets. These actions aim to improve the company’s financial position and liquidity, which could positively impact its operations and stakeholder confidence.

The most recent analyst rating on (HK:3683) stock is a Sell with a HK$0.08 price target. To see the full list of analyst forecasts on Great Harvest Maeta Holdings Limited stock, see the HK:3683 Stock Forecast page.

Great Harvest Maeta Holdings Faces Forced Share Sale Amid Compliance Concerns

Great Harvest Maeta Holdings Limited announced the forced sale of 17,412,500 shares, approximately 1.83% of its total issued shares, due to a margin call failure. This sale, involving shares owned by Ablaze Rich Investments Limited, a company partially owned by former director Ms. Lam Kwan, occurred between April 2023 and July 2025. The transaction reduced Ms. Lam’s and Ablaze Rich’s ownership to 67.13% and 62.77%, respectively. Some sales occurred during restricted periods, potentially impacting compliance with securities regulations.

Great Harvest Maeta Holdings Projects Significant Loss Reduction

Great Harvest Maeta Holdings Limited announced an expected significant decrease in its loss for the six months ending September 2025, with a projected loss of not less than US$3.1 million, marking a 58.7% reduction compared to the same period in 2024. This improvement is primarily attributed to a decrease in loss on disposal of property, plant, and equipment, and a reversal of impairment losses. The final results are pending and will be confirmed in the upcoming interim results announcement.

Great Harvest Maeta Holdings Schedules Board Meeting for Interim Results

Great Harvest Maeta Holdings Limited has announced a board meeting scheduled for November 26, 2025, to approve the unaudited interim results for the six months ending September 30, 2025. The meeting will also consider the potential payment of an interim dividend, which could impact shareholder returns and reflect the company’s financial health.