Tailam Tech Construction Holdings Limited (6193) AI Stock Analysis

• Market Cap: HK$100.00M
• Dividend Yield: N/A
• Average Volume (3M): 197.27K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.16
• Revenue Growth: 28.86%
• EPS Growth: 98.11%
• Country: HK
• Employees: 49
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Construction Materials
• EPS (TTM): 0.02
• Shares Outstanding: 400,000,000
• 10 Day Avg. Volume: 255,000
• 30 Day Avg. Volume: 197,266
• PEG Ratio: 0.17
• Price to Book (P/B): 0.36
• Price to Sales (P/S): 0.39
• P/FCF Ratio: -4.59
• 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: 53 Neutral
• Price Target: HK$0.25 ▼(-15.33% Downside)

The score is held back primarily by deteriorating fundamentals—declining revenue, negative profitability, and weak/negative operating and free cash flow—despite a relatively stable equity position on the balance sheet. Technicals are a supportive offset with an established uptrend, though overbought signals add near-term risk. Valuation is also constrained by a negative P/E and no provided dividend yield.

Positive Factors

Balance sheet strength

A high equity ratio provides durable financial stability, reducing short-term refinancing risk and giving management room to restructure or invest during recovery. This buffer supports survival through prolonged revenue weakness and limits immediate funding pressure.

Sector exposure

Exposure to construction materials ties the business to long-term infrastructure and building demand cycles. While company-specific execution matters, the sector’s structural role in construction offers persistent end-market demand that can underpin recovery over 2–6 months as projects resume.

Lean operating footprint

A small, lean workforce implies lower fixed overhead and operational flexibility, enabling quicker cost adjustments if volumes remain weak. This structural agility helps preserve cash and can accelerate margin recovery once top-line trends stabilize.

Negative Factors

Declining revenue trend

Sustained and sharp revenue decline erodes scale, increases per-unit costs, and makes turnaround harder. A shrinking top line limits pricing power and investment capacity, putting long-term competitiveness and market position at risk without clear demand or market-share recovery.

Negative profitability

Persistent negative margins indicate the core business fails to cover operating costs, reducing internal funding for capex or growth. Long-term negative EBITDA weakens reinvestment ability, increases reliance on external capital, and pressures equity cushions over time.

Weak cash generation

Negative operating and free cash flow constrain the firm’s ability to fund working capital, maintenance capex, and debt service. Over months, poor cash conversion forces dependence on new financing, which can dilute shareholders or increase leverage and limit strategic options.

Tailam Tech Construction Holdings Limited Business Overview & Revenue Model

Company Description

Tailam Tech Construction Holdings Limited, an investment holding company, manufactures and sells pre-stressed high-strength concrete piles, commercial concrete, and ceramsite concrete blocks in the People's Republic of China. The company sells its products primarily to property developers and construction companies in Jiangsu province. Its products are used in residential, commercial, bridges, railways, ports, public works, and large-scale projects. The company was founded in 2011 and is based in Causeway Bay, Hong Kong.

How the Company Makes Money

Tailam Tech Construction Holdings Limited generates revenue primarily through its construction projects, which include civil engineering works, building construction, and specialized contracting services. The company earns income by bidding for and securing contracts from both public and private sector clients. Key revenue streams include project management fees, construction services, and maintenance contracts. Additionally, Tailam Tech may benefit from partnerships with government agencies and private developers, which can provide a steady pipeline of projects. The company may also explore joint ventures or collaborations with other firms, enhancing its capabilities and market reach, thereby contributing to its overall earnings.

Tailam Tech Construction Holdings Limited Financial Statement Overview

Summary

Income statement and cash flow are weak: revenue has been declining sharply and profitability (EBIT/EBITDA) is negative, while operating cash flow and free cash flow have turned negative/inconsistent. The balance sheet is comparatively steadier with a strong equity ratio, but negative ROE reflects recent losses.

Income Statement

The company's revenue has been declining over the past years, with a sharp decrease from 2021 to 2024. Profitability metrics such as gross profit margin and net profit margin have worsened, indicating operational and cost management challenges. EBIT and EBITDA margins are also negative, highlighting persistent profitability issues.

Balance Sheet

The company maintains a strong equity position with a high equity ratio, suggesting financial stability. However, the debt-to-equity ratio has fluctuated, showing some leverage concerns. The return on equity has turned negative, reflecting recent losses, but overall, the balance sheet remains relatively stable.

Cash Flow

The company has faced significant challenges in generating positive free cash flow, especially in recent years. Operating cash flow turned negative, indicating issues with cash generation from core operations. Free cash flow growth is concerning as it has not been consistent, impacting overall cash flow health.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	243.70M	185.33M	245.03M	326.17M	488.37M	431.02M
Gross Profit	34.95M	18.36M	33.09M	42.87M	51.96M	62.27M
EBITDA	11.11M	1.48M	3.56M	25.69M	17.02M	28.72M
Net Income	-391.00K	-11.02M	-17.64M	8.96M	1.71M	14.59M
Balance Sheet
Total Assets	322.13M	280.53M	289.38M	403.00M	437.71M	357.89M
Cash, Cash Equivalents and Short-Term Investments	39.59M	18.02M	53.38M	44.29M	36.10M	64.57M
Total Debt	49.53M	139.00K	5.35M	52.93M	54.98M	29.50M
Total Liabilities	119.57M	84.58M	82.32M	177.24M	217.53M	132.10M
Stockholders Equity	202.56M	195.95M	207.06M	225.76M	220.17M	225.78M
Cash Flow
Free Cash Flow	-51.87M	-15.55M	50.14M	11.25M	-43.10M	-8.15M
Operating Cash Flow	-49.58M	-15.30M	52.11M	21.99M	-12.89M	59.49M
Investing Cash Flow	14.03M	-245.00K	-1.85M	-9.74M	-30.46M	-67.80M
Financing Cash Flow	31.79M	-22.51M	-49.39M	-5.01M	14.84M	-12.28M

Tailam Tech Construction Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.30
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6193, the sentiment is Negative. The current price of 0.3 is above the 20-day moving average (MA) of 0.27, above the 50-day MA of 0.27, and above the 200-day MA of 0.23, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 42.40 is Neutral, neither overbought nor oversold. The STOCH value of 20.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:6193.

Tailam Tech Construction Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
2233	60 Neutral	HK$20.48B	19.26	7.74%	1.29%	20.56%	254.64%
6193	53 Neutral	HK$100.00M	-207.50	-0.22%	―	28.86%	98.11%
0695	52 Neutral	HK$5.02B	-159.86	-6.75%	―	-11.16%	41.97%
0691	48 Neutral	HK$2.57B	16.38	0.80%	―	-14.85%	―
1252	48 Neutral	HK$801.65M	2.15	2.15%	―	0.18%	―
1847	44 Neutral	HK$64.93M	-1.92	-8.97%	―	-11.49%	-128.11%

Tailam Tech Construction Holdings Limited Corporate Events

Tailam Tech Construction Holdings Limited Announces Auditor Change

Tailam Tech Construction Holdings Limited has announced a change of auditor due to a disagreement with PricewaterhouseCoopers (PwC) over audit fees for the year ending December 2025. PwC has resigned, and BDO Limited has been appointed as the new auditor. The change is expected to enhance cost-effectiveness and reduce operating expenses without impacting the annual audit. The Board and Audit Committee have confirmed no unresolved matters with PwC and expressed gratitude for their past services.