Man Shing Global Holdings Limited (8309) AI Stock Analysis

• Market Cap: HK$40.80M
• Dividend Yield: N/A
• Average Volume (3M): 24.00K
• Price to Earnings (P/E): 10.2
• Beta (1Y): 0.26
• Revenue Growth: -57.27%
• EPS Growth: -190.00%
• Country: HK
• Employees: 4,066
• Sector: Industrials
• Sector Strength: 72
• Industry: Waste Management
• EPS (TTM): N/A
• Shares Outstanding: 600,000,000
• 10 Day Avg. Volume: 0
• 30 Day Avg. Volume: 24,000
• PEG Ratio: 0.04
• Price to Book (P/B): 0.29
• Price to Sales (P/S): 0.06
• P/FCF Ratio: -0.91
• 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: 48 Neutral
• Price Target: HK$0.07 ▲(11.67% Upside)
• Action: Reiterated Date: 08/23/25
• Date: Action: Reiterated 08/23/25

The overall stock score is primarily influenced by the company's financial performance, which highlights significant challenges in profitability and cash flow management. Technical analysis suggests potential short-term volatility, while valuation concerns are underscored by the negative P/E ratio. The absence of earnings call data and corporate events means these factors do not influence the score.

Positive Factors

Balance sheet buffer

A stable equity base and moderate leverage provide a durable financial cushion against shocks. Manageable debt levels support the company's ability to meet obligations and access financing for operational needs or restructuring, preserving viability while revenues recover over several quarters.

Gross margin resilience

Relatively stable gross margins amid revenue volatility imply the core operations retain pricing power or cost control. This structural resilience suggests the business can restore profitability by addressing fixed overhead and improving operating efficiency without needing immediate top-line recoveries.

Essential industry demand

Operating in waste management provides stable, structural demand driven by regulatory and municipal needs. Essential services typically exhibit predictable baseline volumes and long-term contract opportunities, supporting recovery prospects and steady revenue floors over multiple months.

Negative Factors

Severe revenue decline

A >50% year decline in revenue is a structural red flag: it weakens operating leverage, strains contribution to fixed costs, and reduces reinvestment capacity. Recovery to prior scale can take multiple quarters and may require new contracts or market share restoration to normalize margins.

Negative cash flow

Negative operating and free cash flow erode liquidity and force reliance on external funding or asset sales. Over a multi-month horizon this limits capex for maintenance or growth, constrains working capital flexibility, and elevates refinancing and solvency risk if cash generation does not improve.

Profitability deterioration

Turning net losses and compressing EBIT/EBITDA margins indicate structural cost or revenue mix issues. Sustained margin deterioration reduces retained earnings, limits internal funding for strategic initiatives, and may necessitate operational restructuring to restore long-term profitability.

Man Shing Global Holdings Limited Business Overview & Revenue Model

Company Description

Man Shing Global Holdings Limited, an investment holding company, provides environmental cleaning and property management services in Hong Kong. The company offers street cleaning solutions; building cleaning services; and bus and ferry cleaning services. It also provides other cleaning services comprising refuse collection and waste disposal services, and sewage management, pest control and fumigation services, as well as external wall and window, and confined space cleaning services. The company serves government and private sector customers. Man Shing Global Holdings Limited was founded in 1987 and is headquartered in Kwai Chung, Hong Kong.

How the Company Makes Money

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Man Shing Global Holdings Limited Financial Statement Overview

Summary

Man Shing Global Holdings Limited faces significant financial challenges, particularly in profitability and cash flow management. While the balance sheet shows moderate leverage, the negative trends in income and cash flow statements highlight potential risks to financial stability and operational efficiency.

Income Statement

The company's revenue has shown volatility, with a significant drop in the latest year compared to previous years. Gross profit margin has remained relatively stable, but the net profit margin has turned negative, indicating challenges in maintaining profitability. EBIT and EBITDA margins have also declined, reflecting operational efficiency issues.

Balance Sheet

The company maintains a stable equity base, with a moderate debt-to-equity ratio indicating manageable leverage. However, the decline in stockholders' equity and total assets suggests potential challenges in asset management. The equity ratio remains solid, providing a buffer against liabilities.

Cash Flow

The cash flow situation is concerning, with a negative free cash flow and operating cash flow in the latest year. The free cash flow growth has turned negative, and the operating cash flow to net income ratio indicates insufficient cash generation relative to earnings.

Breakdown	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020
Income Statement
Total Revenue	677.10M	1.02B	997.03M	663.96M	580.55M
Gross Profit	60.61M	87.70M	95.38M	60.61M	71.66M
EBITDA	18.80M	35.64M	54.29M	20.89M	43.63M
Net Income	-7.23M	16.10M	28.26M	2.25M	28.61M
Balance Sheet
Total Assets	213.56M	345.51M	330.05M	298.47M	198.44M
Cash, Cash Equivalents and Short-Term Investments	75.94M	73.19M	70.98M	73.58M	70.55M
Total Debt	13.91M	38.38M	68.16M	116.16M	37.46M
Total Liabilities	81.56M	206.37M	83.98M	203.71M	96.94M
Stockholders Equity	131.98M	139.13M	123.02M	94.76M	101.51M
Cash Flow
Free Cash Flow	-42.11M	51.47M	56.12M	-6.06M	41.97M
Operating Cash Flow	-31.30M	57.54M	71.31M	-3.35M	42.46M
Investing Cash Flow	62.19M	-25.11M	-9.42M	-31.81M	-1.31M
Financing Cash Flow	-28.15M	-30.21M	-63.13M	38.19M	-10.76M

Man Shing Global Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.06
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:8309, the sentiment is Positive. The current price of 0.06 is below the 20-day moving average (MA) of 0.07, below the 50-day MA of 0.06, and below the 200-day MA of 0.06, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 99.99 is Negative, neither overbought nor oversold. The STOCH value of 85.71 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:8309.

Man Shing Global Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
1397	75 Outperform	HK$464.80M	1.16	21.36%	3.17%	6.12%	78.64%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
8201	59 Neutral	HK$53.46M	2.72	-0.77%	―	2.94%	-56.79%
8472	52 Neutral	HK$46.66M	-6.31	-4.22%	―	-72.66%	-127.43%
8309	48 Neutral	HK$40.80M	10.19	-12.22%	―	-57.27%	-190.00%
0646	46 Neutral	HK$53.46M	-1.06	―	―	4.13%	-5.11%
8320	44 Neutral	HK$63.03M	18.02	-4.04%	―	12.29%	51.28%