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Mexan
(0022)
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Rating:52Neutral
Price Target:
HK$2.00
▲(16.96% Upside)
Action:Reiterated
Date:08/05/26
The score is held back primarily by weak cash flow and questionable earnings quality despite a sharp revenue rebound, while the debt-free balance sheet provides some stability. Technical signals remain bearish over the medium-to-long term, and the very low P/E is treated cautiously because reported profits do not appear to be supported by cash generation.
Positive Factors
Revenue Recovery
The 76% FY2026 revenue rebound indicates a meaningful recovery in demand after prior volatility. If maintained, stronger top-line activity can improve operating leverage, support reinvestment, and provide a broader base for rebuilding recurring profitability over the next several quarters.
Negative Factors
Negative Cash Generation
Negative operating and free cash flow indicate that reported activity is not currently converting into cash, creating execution and liquidity risk if the deterioration persists. Weak cash generation can constrain investment, reduce resilience during downturns, and make future performance more dependent on balance-sheet resources.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Recovery
The 76% FY2026 revenue rebound indicates a meaningful recovery in demand after prior volatility. If maintained, stronger top-line activity can improve operating leverage, support reinvestment, and provide a broader base for rebuilding recurring profitability over the next several quarters.
Read all positive factors
Mexan (0022) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$67.64M
Dividend Yield3.47%
Average Volume (3M)61.51K
Price to Earnings (P/E)<0.1
Beta (1Y)1.71
Revenue GrowthN/A
EPS GrowthN/A
CountryHK
Employees21
SectorBasic Materials
Sector Strength58
IndustryConstruction Materials
Share Statistics
EPS (TTM)466.50
Shares Outstanding39,327,760
10 Day Avg. Volume41,370
30 Day Avg. Volume61,509
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)1.93
Price to Sales (P/S)11.05
P/FCF Ratio-16.72
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
Mexan Business Overview & Revenue Model
Company Description
Mexan Limited is an investment holding company primarily engaged in hotel operations and the building materials sector. The company operates the 'Winland 800 Hotel' in Tsingyi, Hong Kong. It also supplies a range of building materials, including f...
Mexan Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
74
Positive
Cash Flow
34
Negative
| Breakdown | Mar 2026 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 44.14M | 37.59M | 176.94M | 126.36M | 27.52M |
| Gross Profit | 18.05M | 6.93M | 69.00M | 44.32M | 8.66M |
| EBITDA | 1.58M | -12.17M | 13.48M | -2.91M | -23.39M |
| Net Income | 374.90M | -32.02M | -20.16M | -23.77M | -44.41M |
Balance Sheet | |||||
| Total Assets | 263.90M | 546.92M | 555.23M | 602.36M | 536.21M |
| Cash, Cash Equivalents and Short-Term Investments | 197.85M | 40.30M | 46.95M | 50.21M | 21.38M |
| Total Debt | 0.00 | 87.70M | 121.46M | 119.14M | 81.74M |
| Total Liabilities | 15.22M | 199.05M | 176.41M | 203.15M | 113.07M |
| Stockholders Equity | 252.43M | 351.41M | 382.16M | 402.32M | 426.08M |
Cash Flow | |||||
| Free Cash Flow | -29.17M | 28.71M | 16.21M | -26.61M | -25.43M |
| Operating Cash Flow | -29.17M | 29.18M | 18.23M | -22.15M | -16.46M |
| Investing Cash Flow | 752.84M | 518.00K | -1.78M | -6.24M | -8.97M |
| Financing Cash Flow | -561.26M | -36.90M | -24.01M | 57.23M | 20.06M |
Mexan Technical Analysis
Neutral
1.71
Price Trends
1.86
Negative
2.58
Negative
6.17
Negative
Market Momentum
-0.05
Negative
45.09
Neutral
50.15
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0022, the sentiment is Neutral. The current price of 1.71 is below the 20-day moving average (MA) of 1.72, below the 50-day MA of 1.86, and below the 200-day MA of 6.17, indicating a neutral trend. The MACD of -0.05 indicates Negative momentum. The RSI at 45.09 is Neutral, neither overbought nor oversold. The STOCH value of 50.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:0022.
Mexan Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | HK$1.81B | 19.00 | 2.28% | 1.92% | 3.53% | -7.65% | |
68 Neutral | HK$826.69M | 2.70 | 8.45% | 5.00% | 6.80% | 67.22% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | HK$1.65B | 4.77 | 3.55% | 6.88% | -4.80% | 585.92% | |
53 Neutral | HK$14.62B | 12.93 | 2.68% | 3.67% | 5.29% | 15.06% | |
52 Neutral | HK$67.64M | <0.01 | 146.53% | 3.47% | ― | ― | |
47 Neutral | HK$395.46M | -0.82 | -7.05% | 3.48% | 49.29% | 79.61% |
* Basic Materials Sector Average
HK:0022
Mexan
1.75
-5.10
-74.45%
HK:0184
Keck Seng Investments (Hong Kong)
2.40
0.02
1.05%
HK:1270
Langham Hospitality Investments
0.47
<0.01
1.75%
HK:0069
Shangri-La Asia
4.09
-0.33
-7.45%
HK:1221
Sino Hotels (Holdings) Ltd.
1.56
0.15
10.33%
HK:0078
Regal Hotels International Holdings Limited
0.45
-0.10
-17.59%
Mexan Corporate Events
Mexan sets AGM to approve accounts, director changes and new share mandates
Sep 8, 2026
Mexan Limited has called its annual general meeting for 30 September 2026 in Hong Kong to review audited financial statements for the year ended 31 March 2026, consider the directors’ and independent auditor’s reports, re-elect retirin...
Mexan Announces Chairman’s Resignation and Board Committee Reshuffle
Jul 22, 2026
Mexan Limited announced the resignation of chairman and executive director Mr. Lun Yiu Kay Edwin, who also stepped down as authorised representative and as chairman or member of several key board committees, effective 22 July 2026, to focus on oth...
Mexan Limited Confirms Board Line-Up and Committee Roles
Jul 22, 2026
Mexan Limited has updated its board structure effective 22 July 2026, confirming two executive directors, Mr. Law Hok Yu and Ms. Miao Xianliu, alongside three independent non-executive directors, Ms. Li Ching Yi, Ms. Zhao Aiyin and Ms. Chan Wai Ya...
Mexan Shareholders Approve Major Share Consolidation at Special General Meeting
Jul 2, 2026
Mexan Limited held a special general meeting in Hong Kong on 2 July 2026, at which all 1,966,387,866 issued shares were eligible to vote on an ordinary resolution. No shareholders were required to abstain, and the company’s directors attende...
Mexan Relocates Principal Hong Kong Office to Jaffe Road
Jun 30, 2026
Mexan Limited has announced a relocation of its principal place of business within Hong Kong, effective 30 June 2026, moving to Unit A B on the 12th Floor of the Kingpower Commercial Building on Jaffe Road. The change, formally approved by the bo...
Mexan Swings to Profit on Strong Core Performance and Discontinued Gain
Jun 30, 2026
Mexan Limited reported a 17.4% rise in revenue from continuing operations to HK$44.1 million for the year ended 31 March 2026, with gross profit surging 171.8% to HK$18.8 million and core profit from continuing operations swinging to HK$3.5 millio...
Mexan Flags Sharply Reduced Annual Loss on Cost Controls and Construction Revenue
Jun 26, 2026
Mexan Limited has warned shareholders that it expects a narrowed loss of about HK$2 million to HK$3 million from continuing operations for the year ended 31 March 2026, compared with a loss of HK$38.9 million a year earlier. The improvement reflec...
Mexan Sets June Board Meeting to Approve Audited Annual Results
Jun 18, 2026
Mexan Limited has scheduled a board meeting for 30 June 2026 in Hong Kong, at which directors will review and approve the audited final results for the financial year ended 31 March 2026. The meeting will cover the performance of the company and i...
Mexan Clarifies Proxy Submission Deadline for Special General Meeting
Jun 10, 2026
Mexan Limited has issued a clarification regarding its circular and notice of special general meeting related to a proposed share consolidation and change in board lot size. The company corrected a typographical error concerning the deadline for l...
Mexan Seeks Shareholders’ Approval for 50-to-1 Share Consolidation
Jun 9, 2026
Mexan Limited has called a special general meeting for 2 July 2026 in Hong Kong, asking shareholders to approve a major share consolidation. The proposal would merge every 50 existing HK$0.02 shares into one HK$1.00 share, maintaining the total au...
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.