State Innovation Holdings Limited (HK:8275)
:8275
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State Innovation Holdings Limited
(8275)
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Rating:43Neutral
Price Target:
HK$0.09
▼(-14.55% Downside)
Action:ReiteratedDate:03/24/26
The score is held down primarily by weak financial performance—especially the 2025 loss, sharp margin deterioration, and ongoing cash burn. Technical indicators also point to a bearish trend (price below key moving averages with negative MACD). Valuation offers limited support because earnings are negative and no dividend yield is available.
Positive Factors
Conservative balance sheet / low leverage
The company carries minimal debt relative to equity (HK$1.3m debt vs HK$115.5m equity). This structural low leverage materially reduces refinancing risk and gives management time and flexibility to restructure operations or absorb losses without immediate solvency pressure, supporting multi-month resilience.
Negative Factors
Sharp 2025 loss and margin collapse
A swing to a sizable 2025 loss with gross margin collapsing to ~8.6% and net margin ~-19.6% reflects structural pressure on project pricing or cost control. Sustained margin deterioration erodes return on capital, undermines reinvestment capacity, and makes long-term earnings recoveries more difficult without operational change.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet / low leverage
The company carries minimal debt relative to equity (HK$1.3m debt vs HK$115.5m equity). This structural low leverage materially reduces refinancing risk and gives management time and flexibility to restructure operations or absorb losses without immediate solvency pressure, supporting multi-month resilience.
Read all positive factors
State Innovation Holdings Limited (8275) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$96.96M
Dividend YieldN/A
Average Volume (3M)5.18M
Price to Earnings (P/E)―
Beta (1Y)0.14
Revenue Growth-65.22%
EPS Growth-480.37%
CountryHK
Employees27
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)-0.01
Shares Outstanding959,985,530
10 Day Avg. Volume3,812,100
30 Day Avg. Volume5,179,429
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.92
Price to Sales (P/S)0.67
P/FCF Ratio-3.52
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
State Innovation Holdings Limited Business Overview & Revenue Model
Company Description
State Innovation Holdings Limited, an investment holding company, provides foundation work services in Hong Kong. The company undertakes bored piling and other foundation works. It also offers management services for construction works; and machin...
State Innovation Holdings Limited Financial Statement Overview
Summary
Income Statement
36
Negative
Balance Sheet
72
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 91.11M | 158.55M | 139.97M | 135.10M | 146.74M | 141.79M |
| Gross Profit | -28.85M | 13.57M | 34.93M | -6.97M | -23.40M | 15.16M |
| EBITDA | -49.32M | -22.08M | 17.09M | -17.45M | -30.00M | -1.62M |
| Net Income | -52.95M | -31.15M | 8.35M | -26.76M | -37.80M | -14.71M |
Balance Sheet | ||||||
| Total Assets | 135.16M | 137.13M | 168.70M | 128.47M | 112.59M | 132.69M |
| Cash, Cash Equivalents and Short-Term Investments | 43.96M | 30.14M | 66.24M | 12.16M | 4.34M | 7.53M |
| Total Debt | 192.00K | 1.27M | 4.03M | 7.47M | 15.95M | 35.44M |
| Total Liabilities | 17.04M | 21.61M | 45.32M | 56.17M | 62.07M | 77.93M |
| Stockholders Equity | 118.12M | 115.53M | 123.38M | 72.62M | 50.53M | 54.77M |
Cash Flow | ||||||
| Free Cash Flow | -38.72M | -30.04M | -4.13M | -37.77M | -17.30M | 1.12M |
| Operating Cash Flow | -38.69M | -26.69M | -2.35M | -19.84M | -9.65M | 6.44M |
| Investing Cash Flow | -9.24M | -20.80M | -6.38M | -18.52M | -7.17M | 3.31M |
| Financing Cash Flow | 40.87M | 19.58M | 44.71M | 39.55M | 13.63M | -7.67M |
State Innovation Holdings Limited Technical Analysis
Negative
0.11
Price Trends
0.11
Negative
0.11
Negative
0.12
Negative
Market Momentum
>-0.01
Negative
34.97
Neutral
45.83
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:8275, the sentiment is Negative. The current price of 0.11 is above the 20-day moving average (MA) of 0.10, above the 50-day MA of 0.11, and below the 200-day MA of 0.12, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 34.97 is Neutral, neither overbought nor oversold. The STOCH value of 45.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:8275.
State Innovation Holdings Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | HK$1.96B | -104.26 | 2.74% | ― | ― | ― | |
47 Neutral | HK$129.96M | -3.28 | -9.59% | ― | -9.82% | -309.09% | |
43 Neutral | HK$96.96M | -2.79 | -45.49% | ― | -65.22% | -480.37% | |
43 Neutral | HK$134.40M | -14.63 | -47.44% | ― | -34.70% | -388.24% | |
43 Neutral | HK$215.55M | -2.28 | -25.76% | ― | 38.15% | -1533.02% |
* Industrials Sector Average
HK:8275
State Innovation Holdings Limited
0.10
-0.07
-39.88%
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0.98
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Ri Ying Holdings Ltd.
0.17
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40.00%
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New Concepts Holdings Ltd
0.94
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118.60%
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Lai Si Enterprise Holding Ltd.
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42.59%
HK:6080
Wing Chi Holdings Limited
0.12
0.06
103.51%
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.