Winox Holdings Limited (HK:6838)
:6838
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Winox Holdings Limited
(6838)
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Rating:47Neutral
Price Target:
HK$0.23
▼(-10.38% Downside)
Action:ReiteratedDate:01/22/26
The score is primarily held back by deteriorating fundamentals (declining revenue, shrinking margins, losses, and zero operating/free cash flow in 2024). Technicals also remain weak with the share price below major moving averages and negative MACD, while valuation is partially supported by a very high dividend yield but offset by negative earnings (negative P/E).
Positive Factors
Strong balance sheet and very low leverage
A very high equity ratio and minimal debt provide durable financial flexibility: the company can absorb near-term losses, fund operations or strategic initiatives from equity, and withstand economic shocks without immediate refinancing pressure, supporting medium-term stability.
Negative Factors
Declining revenue and compressed gross margins
Material margin compression and falling revenue point to structural pressure on pricing or rising costs. Persistently lower gross margins reduce operating leverage, impair ability to invest in product development or talent, and make sustained profitability recovery more difficult over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong balance sheet and very low leverage
A very high equity ratio and minimal debt provide durable financial flexibility: the company can absorb near-term losses, fund operations or strategic initiatives from equity, and withstand economic shocks without immediate refinancing pressure, supporting medium-term stability.
Read all positive factors
Winox Holdings Limited (6838) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$132.00M
Dividend Yield9.26%
Average Volume (3M)21.60K
Price to Earnings (P/E)―
Beta (1Y)0.02
Revenue Growth-4.08%
EPS Growth-196.66%
CountryHK
Employees2,455
SectorConsumer Cyclical
Sector Strength84
IndustryLuxury Goods
Share Statistics
EPS (TTM)-0.08
Shares Outstanding600,000,000
10 Day Avg. Volume47,400
30 Day Avg. Volume21,600
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)0.24
Price to Sales (P/S)0.33
P/FCF Ratio-6.39
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Winox Holdings Limited Business Overview & Revenue Model
Company Description
Winox Holdings Limited, an investment holding company, develops, manufactures, and sells stainless steel products. Its products include watch bracelets, mobile phone cases and parts, smart wearable cases and parts, costume jewelry, and leather and...
How the Company Makes Money
Winox Holdings Limited generates revenue through the sale of its stainless steel products and watch components. The company primarily earns its income by manufacturing and supplying high-quality stainless steel watch bands, cases, and other relate...
Winox Holdings Limited Financial Statement Overview
Summary
Income Statement
35
Negative
Balance Sheet
60
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 683.66M | 681.68M | 774.73M | 1.15B | 1.39B | 1.19B |
| Gross Profit | 98.39M | 109.44M | 224.29M | 305.58M | 297.10M | 247.34M |
| EBITDA | 11.01M | 22.40M | 120.74M | 160.25M | 132.86M | 127.17M |
| Net Income | -43.41M | -20.33M | 63.73M | 112.40M | 94.42M | 96.08M |
Balance Sheet | ||||||
| Total Assets | 1.17B | 1.17B | 1.19B | 1.32B | 1.61B | 1.23B |
| Cash, Cash Equivalents and Short-Term Investments | 200.21M | 222.25M | 317.16M | 270.79M | 207.00M | 174.64M |
| Total Debt | 79.91M | 71.09M | 55.36M | 122.42M | 267.87M | 75.72M |
| Total Liabilities | 209.53M | 227.01M | 184.10M | 304.11M | 608.99M | 334.01M |
| Stockholders Equity | 957.72M | 942.74M | 1.01B | 1.01B | 1.00B | 899.85M |
Cash Flow | ||||||
| Free Cash Flow | -109.68M | -35.21M | 156.45M | 238.49M | -131.02M | 74.94M |
| Operating Cash Flow | 855.00K | -5.08M | 214.76M | 311.34M | -19.40M | 174.08M |
| Investing Cash Flow | -139.26M | -98.41M | -139.66M | -76.29M | -111.78M | -99.44M |
| Financing Cash Flow | 19.18M | -1.90M | -113.28M | -156.83M | 156.25M | -40.82M |
Winox Holdings Limited Technical Analysis
Negative
0.26
Price Trends
0.21
Positive
0.24
Negative
0.26
Negative
Market Momentum
<0.01
Negative
50.78
Neutral
54.81
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6838, the sentiment is Negative. The current price of 0.26 is above the 20-day moving average (MA) of 0.22, above the 50-day MA of 0.21, and above the 200-day MA of 0.26, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 50.78 is Neutral, neither overbought nor oversold. The STOCH value of 54.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:6838.
Winox Holdings Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | HK$2.29B | 3.61 | 5.10% | 4.05% | 6.60% | -14.32% | |
73 Outperform | HK$13.82B | 5.90 | 9.54% | 4.43% | 10.89% | 2.02% | |
70 Outperform | HK$1.60B | 4.06 | 10.00% | 9.67% | -9.00% | -21.55% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
49 Neutral | HK$598.03M | -12.90 | -65.71% | ― | -20.65% | -616.18% | |
48 Neutral | HK$374.26M | -11.47 | -7.92% | ― | -18.07% | -1041.89% | |
47 Neutral | HK$132.00M | -2.64 | -4.57% | 9.26% | -4.08% | -196.66% |
* Consumer Cyclical Sector Average
HK:6838
Winox Holdings Limited
0.22
-0.05
-18.52%
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0.09
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-77.95%
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0.32
0.13
72.13%
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Luk Fook Holdings (International)
23.54
9.84
71.88%
HK:0398
Oriental Watch Holdings
3.29
0.35
11.94%
HK:1856
Ernest Borel Holdings Ltd
1.66
0.49
41.88%
Winox Holdings Limited Corporate Events
Winox Flags Sharply Wider 2025 Loss on Weak Demand and Restructuring Costs
Jan 8, 2026
Winox Holdings has warned shareholders that it expects a significantly wider loss for 2025, with unaudited management accounts showing a loss of about HK$54 million for the 11 months to 30 November 2025, compared with a full-year loss of HK$20.3 m...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.