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Mexan
(0022)
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Rating:62Neutral
Price Target:
HK$3.00
▲(75.44% Upside)
Action:Reiterated
Date:09/17/26
The score is held back mainly by weak cash flow and concerns about the quality/sustainability of FY2026 earnings despite a stronger balance sheet. Technicals are supportive with strong momentum, but overbought conditions increase near-term risk. Valuation looks optically very attractive on P/E, though confidence is tempered by the earnings/cash flow mismatch.
Positive Factors
Revenue Recovery
The sharp FY2026 revenue rebound indicates renewed top-line traction after volatility in prior years. If the recovery persists, greater scale could improve operating leverage, support reinvestment, and strengthen the company’s position over the next several quarters.
Negative Factors
Negative Cash Generation
Negative operating and free cash flow means reported activity is not currently converting into cash, creating execution and liquidity pressure. If this deterioration persists, Mexan may have less internally generated funding for operations, investment, and unexpected obligations.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Recovery
The sharp FY2026 revenue rebound indicates renewed top-line traction after volatility in prior years. If the recovery persists, greater scale could improve operating leverage, support reinvestment, and strengthen the company’s position over the next several quarters.
Read all positive factors
Mexan (0022) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$102.84M
Dividend Yield3.47%
Average Volume (3M)281.71K
Price to Earnings (P/E)<0.1
Beta (1Y)1.95
Revenue GrowthN/A
EPS GrowthN/A
CountryHK
Employees21
SectorBasic Materials
Sector Strength58
IndustryConstruction Materials
Share Statistics
EPS (TTM)475.00
Shares Outstanding39,327,760
10 Day Avg. Volume277,140
30 Day Avg. Volume281,711
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 | 102.50M | 126.36M | 27.52M |
| Gross Profit | 18.05M | 6.93M | 28.65M | 44.32M | 8.66M |
| EBITDA | 1.58M | -12.17M | 13.48M | -2.91M | -19.89M |
| 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
Negative
1.71
Price Trends
2.14
Positive
2.24
Positive
5.72
Negative
Market Momentum
0.14
Positive
52.49
Neutral
17.22
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0022, the sentiment is Negative. The current price of 1.71 is below the 20-day moving average (MA) of 2.66, below the 50-day MA of 2.14, and below the 200-day MA of 5.72, indicating a neutral trend. The MACD of 0.14 indicates Positive momentum. The RSI at 52.49 is Neutral, neither overbought nor oversold. The STOCH value of 17.22 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
69 Neutral | HK$1.67B | 16.93 | 2.28% | 2.16% | 3.53% | -7.42% | |
68 Neutral | HK$772.25M | 2.58 | 8.45% | 5.47% | 6.80% | 67.22% | |
62 Neutral | HK$102.84M | <0.01 | 146.53% | 3.47% | ― | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | HK$1.60B | 4.51 | 3.55% | 7.27% | 5.13% | 585.92% | |
57 Neutral | HK$13.60B | 11.98 | 2.68% | 3.96% | 5.29% | 15.06% | |
47 Neutral | HK$377.49M | -0.78 | -7.36% | 3.48% | 49.29% | 79.61% |
* Basic Materials Sector Average
HK:0022
Mexan
2.55
-3.90
-60.47%
HK:0184
Keck Seng Investments (Hong Kong)
2.30
0.07
3.05%
HK:1270
Langham Hospitality Investments
0.44
-0.02
-4.76%
HK:0069
Shangri-La Asia
3.79
-0.62
-13.96%
HK:1221
Sino Hotels (Holdings) Ltd.
1.39
<0.01
0.36%
HK:0078
Regal Hotels International Holdings Limited
0.42
-0.25
-37.31%
Mexan Corporate Events
Mexan lifts stake in nickel player Lygend Resources in discloseable Hong Kong deal
Oct 2, 2026
Mexan has acquired 491,000 shares of Lygend Resources Technology on the Hong Kong market for about HK$9.97 million, paying the prevailing market price and funding the purchase from internal resources. Together with 283,200 shares bought over the ...
Mexan Shareholders Back Board, Auditor and Capital Mandates at AGM
Sep 30, 2026
Shareholders of Mexan Limited approved all resolutions at the annual general meeting held on 30 September 2026, including the receipt of audited financial statements for the year ended 31 March 2026 and the re-election of executive and independent...
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...
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.