Global Sweeteners Holdings Limited (3889) AI Stock Analysis

• Market Cap: HK$162.24M
• Dividend Yield: N/A
• Average Volume (3M): 139.60K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.16
• Revenue Growth: -6.04%
• EPS Growth: -340.00%
• Country: HK
• Employees: 530
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Packaged Foods
• EPS (TTM): -0.03
• Shares Outstanding: 1,931,374,900
• 10 Day Avg. Volume: 232,400
• 30 Day Avg. Volume: 139,600
• PEG Ratio: -0.02
• Price to Book (P/B): -0.96
• Price to Sales (P/S): 0.34
• P/FCF Ratio: -1.09
• 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: 36 Underperform
• Price Target: HK$0.09 ▲(3.33% Upside)

The most significant factor impacting the score is the company's weak financial performance, characterized by negative equity, high leverage, and zero cash flow, which poses substantial risks. Technical analysis indicates a bearish trend, and valuation metrics suggest potential overvaluation with a negative P/E ratio. These factors collectively result in a low overall stock score.

Positive Factors

Revenue Growth

Despite financial challenges, the significant revenue growth from 2022 to 2023 indicates potential for market expansion and increased demand for products.

Product Demand

As a leading supplier in the sweeteners market, the company benefits from sustained demand in the food and beverage industry, supporting long-term revenue.

Market Position

A diverse clientele in a stable industry like food and beverage provides resilience against market fluctuations, supporting long-term business stability.

Negative Factors

Financial Instability

Negative equity and high leverage indicate financial instability, posing risks to long-term sustainability and limiting growth opportunities.

Cash Flow Issues

Zero operating cash flow highlights liquidity issues, threatening the company's ability to fund operations and growth without external financing.

Profitability Challenges

Negative operational margins suggest inefficiencies and challenges in cost management, impacting long-term profitability and competitive positioning.

Global Sweeteners Holdings Limited Business Overview & Revenue Model

Company Description

Global Sweeteners Holdings Limited, an investment holding company, engages in the manufacture and sale of corn refined products and corn sweeteners primarily in the People's Republic of China. Its Corn Refined Products segment offers corn starch, gluten meal, corn oil, and other corn refined products. The company's Corn Sweeteners segment provides glucose, maltose, and high fructose corn syrups, as well as maltodextrin, a corn syrup solid. It also offers general administration services. The company serves customers in various sectors, such as food and beverage, confectionary, daily products, fermentation, and chemical industries, as well as cosmetics and pharmaceutical industries. It also exports its products in Japan, South Korea, Taiwan, the Philippines, Russia, Malaysia, and South Africa. The company was founded in 1998 and is headquartered in Hung Hom, Hong Kong. Global Sweeteners Holdings Limited is a subsidiary of Global Corn Bio-chem Technology Company Limited.

How the Company Makes Money

Global Sweeteners Holdings Limited generates revenue primarily through the production and sale of sweeteners and food additives. The company's core revenue streams include the sale of glucose syrup, fructose syrup, and other corn-derived products to various sectors such as food and beverage, pharmaceuticals, and consumer goods. By establishing strong relationships with food manufacturers and leveraging its production capabilities, the company is able to secure long-term contracts and bulk orders, providing a stable income source. Additionally, the company may benefit from strategic partnerships with major distributors and collaborations that enhance its market reach and operational efficiency, contributing to its overall earnings.

Global Sweeteners Holdings Limited Financial Statement Overview

Summary

Global Sweeteners Holdings Limited is in a financially fragile state. Despite revenue growth, profitability is weak with negative operational margins. The balance sheet is concerning due to negative equity and high leverage. Cash flow issues further exacerbate the risk, with zero operating and free cash flow suggesting liquidity concerns.

Income Statement

The income statement shows a challenging financial situation. The Net Profit Margin is positive at about 10.7%, but this is misleading as it is skewed by a one-time item boosting net income, given prior negative results. Revenue growth is volatile but showed improvement from 2022 to 2023 with a 50.1% increase. However, EBIT and EBITDA margins are negative, indicating operational challenges. Overall, profitability is weak.

Balance Sheet

The balance sheet reflects financial instability. The Debt-to-Equity ratio is negative due to negative equity, highlighting high leverage and risk. The Equity Ratio is also negative, indicating more liabilities than assets. The company's financial structure is precarious, with significant liabilities overshadowing its assets.

Cash Flow

Cash flow analysis indicates severe weaknesses. Operating Cash Flow is zero in the latest year, a decline from positive cash flow in 2023. The Free Cash Flow is also zero, showing a lack of cash available after capital expenditures. This raises concerns about liquidity and the ability to sustain operations without external financing.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	544.63M	623.46M	440.81M	359.57M	728.10M	769.02M
Gross Profit	45.27M	31.30M	36.62M	27.27M	41.59M	77.87M
EBITDA	-94.09M	120.27M	-23.12M	-31.48M	48.22M	201.39M
Net Income	-162.28M	66.62M	289.52M	-212.49M	-96.26M	-8.73M
Balance Sheet
Total Assets	575.25M	568.84M	575.36M	687.11M	935.08M	1.30B
Cash, Cash Equivalents and Short-Term Investments	8.16M	5.10M	13.55M	4.28M	7.83M	21.28M
Total Debt	318.26M	299.74M	441.08M	796.48M	929.61M	996.66M
Total Liabilities	859.66M	787.09M	957.21M	1.37B	1.44B	1.73B
Stockholders Equity	-284.42M	-218.25M	-375.92M	-675.04M	-494.19M	-418.63M
Cash Flow
Free Cash Flow	-173.66M	-192.38M	87.80M	13.14M	-285.45M	-30.01M
Operating Cash Flow	-95.89M	-114.66M	88.39M	13.28M	-283.86M	-20.20M
Investing Cash Flow	-68.03M	-76.51M	-589.00K	19.64M	383.12M	104.34M
Financing Cash Flow	160.78M	182.97M	-78.30M	-36.13M	-112.93M	-94.61M

Global Sweeteners Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.09
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3889, the sentiment is Negative. The current price of 0.09 is above the 20-day moving average (MA) of 0.09, below the 50-day MA of 0.09, and below the 200-day MA of 0.10, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 46.17 is Neutral, neither overbought nor oversold. The STOCH value of 8.00 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:3889.

Global Sweeteners Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2317	72 Outperform	HK$989.78M	8.29	5.08%	10.44%	-1.19%	-9.05%
1767	71 Outperform	HK$310.00M	11.74	5.48%	0.75%	5.43%	-25.42%
1837	68 Neutral	HK$2.41B	10.83	13.72%	3.64%	11.89%	27.80%
3838	63 Neutral	HK$1.07B	2.36	10.38%	5.47%	-6.58%	16.23%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
0809	44 Neutral	HK$1.09B	0.75	―	―	42.14%	-81.25%
3889	36 Underperform	HK$162.24M	―	―	―	-6.04%	-340.00%

Global Sweeteners Holdings Limited Corporate Events

Global Corn Group CEO Resigns Amid Operational Restructuring

Global Corn Group Limited announced the resignation of its CEO, Mr. Wang Hui, effective November 20, 2025, as he plans to focus on other business ventures. The company has decided not to appoint a new CEO until operations at the Jinzhou Production Site resume or a clear business need arises, as the site remains suspended pending loan restructuring negotiations. The Shanghai Production Site continues to operate under its management team. The company’s joint chairmen, Mr. Wang Tieguang and Mr. Kong Zhanpeng, will oversee the restructuring and management of the production sites.