Winson Holdings Hong Kong Ltd (6812) AI Stock Analysis

• Market Cap: HK$183.00M
• Dividend Yield: 3.65%
• Average Volume (3M): 32.33K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.55
• Revenue Growth: 0.25%
• EPS Growth: 18.87%
• Country: HK
• Employees: 1,589
• Sector: Industrials
• Sector Strength: 72
• Industry: Waste Management
• EPS (TTM): >-0.01
• Shares Outstanding: 600,000,000
• 10 Day Avg. Volume: 20,500
• 30 Day Avg. Volume: 32,333
• PEG Ratio: 0.03
• Price to Book (P/B): 0.37
• Price to Sales (P/S): 0.15
• P/FCF Ratio: 2.58
• 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: 55 Neutral
• Price Target: HK$0.31 ▲(49.05% Upside)

The score is held back mainly by weak financial performance (declining revenue and current losses). Technicals are supportive with price above major moving averages and positive MACD, but overbought RSI/Stoch readings raise near-term risk. Valuation is mixed: a moderate dividend is a positive, while negative earnings (negative P/E) are a key constraint.

Positive Factors

Low leverage / strong balance sheet

A low debt-to-equity structure and strong equity position provide durable financial flexibility, reducing refinancing risk and enabling the firm to fund development or weather property market cycles without excessive leverage. This supports long-term strategic options and credit resilience.

Stable rental income base

A business model anchored in rental income and long-term leases yields recurring, predictable cash flows that support operations, maintenance, and capital allocation. Over a multi-month horizon this stability underpins dividends, debt servicing capacity, and measured development pacing.

Moderate dividend yield

A moderate recurring dividend provides a steady return component for shareholders and signals management intent to distribute cash. If underpinned by rental cash flows and a conservative balance sheet, this dividend can be a durable element of investor returns over the medium term.

Negative Factors

Declining revenue and negative margins

Sustained revenue decline combined with negative operating margins undermines the firm's ability to generate internal funds for development or maintenance. Persistently weak margins can force asset disposals, cutbacks, or capital raises, impairing long-term growth and operational resilience.

Inconsistent cash flow conversion

Weak and inconsistent conversion of accounting income into cash constrains reinvestment and increases reliance on external financing or asset sales. Over months this raises execution risk for projects, threatens dividend sustainability, and reduces the company's buffer against market disruptions.

Negative return on equity

A negative ROE indicates the business is destroying shareholder capital rather than creating it, signaling structural profitability issues. Over the medium term this can deter investors, limit access to capital, and force strategic shifts such as asset disposals or cost restructuring.

Winson Holdings Hong Kong Ltd Business Overview & Revenue Model

Company Description

Winson Holdings Hong Kong Limited, an investment holding company, provides environmental hygiene and related, and airline catering support services in Hong Kong. The company offers environmental hygiene and related services, including public area and office cleaning, and waste management, as well as specialized services, such as external curtain wall and window cleaning, marble floor maintenance and restoration, intensive cleaning and pest control services, etc. for residential, commercial and shopping complexes, public utilities, transportation systems, and government bodies. It also provides waste recovery, transportation, and disposal solutions; mist disinfection services; robotic cleaning services; and pest management services, including indoor pest management, and rodent prevention and control services for government departments, educational institutes, public utilities, and transportation systems, as well as residential, commercial, and shopping complexes. In addition, the company offers airline catering support services, such as food plating, tray-setting, packaging, and internal logistic for equipment flow, etc. to airline catering operators. Further, it provides property holding services. The company was incorporated in 1983 and is headquartered in Tsuen Wan, Hong Kong. Winson Holdings Hong Kong Limited is a subsidiary of Sze's Holdings Limited.

How the Company Makes Money

Winson Holdings generates revenue primarily through rental income from its property investments and sales proceeds from property development projects. The company may also earn income from other investments in financial assets or joint ventures. Key revenue streams include long-term leases with tenants, which provide stable cash flow, and profits from the sale of developed properties when market conditions are favorable. Additionally, strategic partnerships with other real estate developers or investors can enhance its operational efficiency and contribute to its earnings.

Winson Holdings Hong Kong Ltd Financial Statement Overview

Summary

Financial performance is weak overall: revenue has been declining, the company is operating at a net loss with negative EBIT/EBITDA margins, and cash flow conversion is challenged. The balance sheet is a relative strength with low leverage and a healthy equity ratio, partially offsetting profitability pressure.

Income Statement

Winson Holdings has experienced declining revenue over recent years, with a significant drop in the latest period. The company is currently operating at a net loss, and its profit margins have deteriorated. The negative EBIT and EBITDA margins indicate operational challenges, impacting overall profitability.

Balance Sheet

The company maintains a strong equity position with a low debt-to-equity ratio, indicating financial stability. However, the return on equity has turned negative, reflecting recent losses. The equity ratio remains healthy, suggesting a solid capital structure.

Cash Flow

Winson Holdings has shown inconsistent cash flow performance, with a significant decline in free cash flow growth. The operating cash flow to net income ratio is below 1, indicating challenges in converting income into cash. However, the free cash flow to net income ratio remains relatively strong, suggesting some resilience in cash generation.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	478.62M	478.62M	470.71M	462.20M	473.69M	529.99M
Gross Profit	42.66M	42.66M	66.56M	77.48M	76.35M	74.82M
EBITDA	-4.59M	-3.61M	19.69M	35.19M	33.18M	82.42M
Net Income	-10.92M	-10.92M	10.90M	24.75M	22.10M	73.81M
Balance Sheet
Total Assets	278.02M	278.02M	282.03M	275.01M	264.23M	276.46M
Cash, Cash Equivalents and Short-Term Investments	99.11M	99.11M	93.56M	154.37M	117.66M	122.38M
Total Debt	950.00K	950.00K	2.40M	2.59M	4.53M	6.00M
Total Liabilities	79.52M	79.52M	70.73M	63.73M	68.86M	67.78M
Stockholders Equity	198.50M	198.50M	211.30M	211.28M	195.38M	208.68M
Cash Flow
Free Cash Flow	28.36M	28.36M	-51.13M	47.53M	33.25M	84.40M
Operating Cash Flow	31.98M	31.98M	-23.89M	51.09M	38.51M	93.82M
Investing Cash Flow	-20.54M	-20.54M	-24.81M	-3.56M	-5.27M	-9.35M
Financing Cash Flow	-5.87M	-5.87M	-11.70M	-10.79M	-37.71M	-3.27M

Winson Holdings Hong Kong Ltd Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.21
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6812, the sentiment is Positive. The current price of 0.21 is below the 20-day moving average (MA) of 0.23, above the 50-day MA of 0.21, and above the 200-day MA of 0.17, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 79.03 is Negative, neither overbought nor oversold. The STOCH value of 93.43 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:6812.

Winson Holdings Hong Kong Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
8201	59 Neutral	HK$61.02M	-8.90	-3.59%	―	2.94%	-56.79%
6812	55 Neutral	HK$183.00M	-23.64	-3.94%	3.65%	0.25%	18.87%
8309	48 Neutral	HK$39.00M	-3.01	-9.31%	―	-57.27%	-190.00%
0923	47 Neutral	HK$91.64M	-0.19	-107.25%	―	-2.08%	-647.01%
0646	46 Neutral	HK$52.43M	-0.94	―	―	4.13%	-5.11%
8320	44 Neutral	HK$81.87M	-29.74	-4.04%	―	12.29%	51.28%

Winson Holdings Hong Kong Ltd Corporate Events

Winson Holdings Announces Interim Results for 2025

Winson Holdings Hong Kong Ltd has released its unaudited condensed consolidated results for the six months ending September 30, 2025. This interim report complies with the relevant listing rules of the Hong Kong Stock Exchange, providing stakeholders with insights into the company’s financial performance during this period.

Winson Holdings Schedules Board Meeting for Interim Results Review

Winson Holdings Hong Kong Limited has scheduled a board meeting for November 24, 2025, to review and approve the unaudited interim results for the six months ending September 30, 2025. The meeting will also consider the declaration of an interim dividend, reflecting the company’s ongoing financial management and potential shareholder returns.