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GHW International (HK:9933)
:9933
Hong Kong Market
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GHW International (9933) AI Stock Analysis

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HK:9933

GHW International

(9933)

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Neutral 42 (OpenAI - 5.2)
Rating:42Neutral
Price Target:
HK$1.50
▼(-14.29% Downside)
Action:ReiteratedDate:04/19/26
The score is held down primarily by compressed profitability and a leveraged balance sheet (near break-even net margin with debt-to-equity ~1.43x). Technicals also remain weak with the stock trading below major moving averages and negative MACD. Valuation is a further headwind given the high P/E (~68) without a dividend yield.
Positive Factors
Revenue Growth
The company's accelerating top-line in 2025 demonstrates sustained demand and scaling across its industrial customer base. Durable revenue growth provides operating leverage potential, funding for reinvestment, and a larger base to restore margins if management crystallizes cost or pricing improvements.
Negative Factors
Compressed Profitability
Margins have materially contracted, leaving near break-even economics. Persistently thin gross and net margins constrain the firm's ability to absorb input cost volatility, reduce reinvestment capacity, and limit room to service debt or build buffers, making earnings fragile over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
The company's accelerating top-line in 2025 demonstrates sustained demand and scaling across its industrial customer base. Durable revenue growth provides operating leverage potential, funding for reinvestment, and a larger base to restore margins if management crystallizes cost or pricing improvements.
Read all positive factors

GHW International (9933) vs. iShares MSCI Hong Kong ETF (EWH)

GHW International Business Overview & Revenue Model

Company Description
GHW International, an investment holding company, manufactures and sells chemical and pharmaceutical products in the People's Republic of China, Europe, Vietnam, rest of Asia, and internationally. It operates through four segments: Polyurethane Ma...
How the Company Makes Money
null...

GHW International Financial Statement Overview

Summary
Strong revenue growth is offset by sharply weaker profitability: gross margin has fallen to ~8.8% (2025 annual) and net margin is ~0.3%, leaving near break-even economics. Leverage is meaningful (debt-to-equity ~1.43x), which looks riskier with thin returns (ROE ~2% in 2024–2025). Cash flow improved in 2025 with positive FCF, but multi-year volatility and inconsistent conversion keep overall financial strength below average.
Income Statement
46
Neutral
Balance Sheet
45
Neutral
Cash Flow
41
Neutral
BreakdownDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue4.01B3.86B3.22B3.38B2.83B
Gross Profit351.53M391.02M336.98M657.90M476.12M
EBITDA57.71M39.42M17.34M329.44M176.11M
Net Income12.39M12.75M2.72M274.63M130.71M
Balance Sheet
Total Assets2.07B2.05B1.74B1.68B1.37B
Cash, Cash Equivalents and Short-Term Investments167.57M101.73M77.84M103.30M58.02M
Total Debt859.52M862.35M718.32M663.43M700.00M
Total Liabilities1.43B1.42B1.16B1.08B1.03B
Stockholders Equity599.45M585.78M581.42M602.62M339.08M
Cash Flow
Free Cash Flow95.31M-63.40M-19.81M-40.29M-337.51M
Operating Cash Flow240.47M61.04M120.07M234.08M-122.53M
Investing Cash Flow-149.35M-158.51M-140.43M-197.72M-164.18M
Financing Cash Flow-79.27M126.98M-4.97M9.07M284.99M

GHW International Technical Analysis

Technical Analysis Sentiment
Negative
Last Price1.75
Price Trends
50DMA
1.68
Negative
100DMA
1.71
Negative
200DMA
1.78
Negative
Market Momentum
MACD
>-0.01
Positive
RSI
40.95
Neutral
STOCH
18.52
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9933, the sentiment is Negative. The current price of 1.75 is above the 20-day moving average (MA) of 1.70, above the 50-day MA of 1.68, and below the 200-day MA of 1.78, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 40.95 is Neutral, neither overbought nor oversold. The STOCH value of 18.52 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:9933.

GHW International Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
60
Neutral
HK$1.12B18.522.55%3.52%1.20%-7.22%
59
Neutral
HK$1.24B7.697.36%2.20%-7.41%65.65%
55
Neutral
HK$6.24B8.077.70%-5.68%-25.13%
45
Neutral
HK$309.23M-0.214154.05%-16.83%-45.43%
42
Neutral
HK$1.64B123.242.60%6.20%-0.68%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
HK:9933
GHW International
1.62
0.15
10.20%
HK:0827
Ko Yo Chemical (Group) Limited
0.04
<0.01
29.41%
HK:0609
Tiande Chemical Holdings Limited
1.27
0.24
23.30%
HK:1702
Dongguang Chemical Ltd.
1.99
0.47
30.92%
HK:2198
China Sanjiang Fine Chemicals Co., Ltd.
5.32
3.53
197.21%

GHW International Corporate Events

GHW International Sets 2026 AGM to Renew Share Issuance Mandate and Board Authority
Apr 16, 2026
GHW International has called its annual general meeting for 12 May 2026 in Nanjing, where shareholders will review the audited consolidated financial statements for the year ended 31 December 2025 and consider the reports of the board and independ...
GHW International Grows Revenue in 2025 but Margin Squeeze Hits Profitability
Mar 30, 2026
GHW International reported a 6.5% rise in 2025 revenue to about RMB4.11 billion, but gross profit fell 7.7% to roughly RMB360.9 million as cost pressures weighed on margins. Net profit edged up 3.9% to approximately RMB13.4 million and other gains...
GHW International Sets Board Meeting to Approve 2025 Results and Consider Dividend
Mar 18, 2026
GHW International has scheduled a board meeting for 30 March 2026 to review and approve the annual results of the company and its subsidiaries for the financial year ended 31 December 2025. The board will also consider recommending a final dividen...
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.Date of analysis: Apr 19, 2026