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Chow Sang Sang Holdings International
(0116)
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Rating:76Outperform
Price Target:
HK$17.00
▲(2.41% Upside)
Action:Reiterated
Date:08/28/26
The score is driven primarily by strong technical momentum and an attractive valuation (low P/E and high dividend yield). Financial performance is mixed: profitability improved materially, but cash-flow volatility and a sharp 2025 operating cash flow decline reduce confidence in earnings quality and sustainability.
Positive Factors
Revenue and earnings rebound
Revenue growth and the 2025 profitability rebound indicate renewed demand and improved operating execution. If sustained, stronger sales can support scale benefits and provide a broader base for future earnings.
Negative Factors
Sharp deterioration in cash conversion
The steep decline in operating cash flow and free cash flow, despite higher profits, raises concerns about working-capital absorption and earnings quality. Persistent weak conversion could constrain reinvestment and shareholder distributions.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and earnings rebound
Revenue growth and the 2025 profitability rebound indicate renewed demand and improved operating execution. If sustained, stronger sales can support scale benefits and provide a broader base for future earnings.
Read all positive factors
Chow Sang Sang Holdings International (0116) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$9.63B
Dividend Yield7.58%
Average Volume (3M)2.04M
Price to Earnings (P/E)3.3
Beta (1Y)0.78
Revenue Growth16.22%
EPS Growth151.59%
CountryHK
Employees9,974
SectorConsumer Cyclical
Sector Strength84
IndustryLuxury Goods
Share Statistics
EPS (TTM)4.32
Shares Outstanding671,712,000
10 Day Avg. Volume2,702,465
30 Day Avg. Volume2,037,268
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)0.57
Price to Sales (P/S)0.37
P/FCF Ratio17.63
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$22.37Price Target Upside34.73% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)3.68
Revenue Forecast (FY)HK$25.34B
Chow Sang Sang Holdings International Business Overview & Revenue Model
Company Description
As an investment holding company, Chow Sang Sang Holdings International Limited specializes in the creation and sale of jewelry. Its business activities are structured across four principal divisions: Retail of Jewellery and Watches, Wholesale of ...
How the Company Makes Money
The company generates revenue mainly through the sale of jewelry and precious metal products via multiple channels. (1) Retail jewelry sales: A core earnings driver comes from selling branded jewelry directly to consumers through its store network...
Chow Sang Sang Holdings International Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
71
Positive
Cash Flow
46
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 24.29B | 22.45B | 21.18B | 25.01B | 20.56B | 21.99B |
| Gross Profit | 7.89B | 7.32B | 5.99B | 6.60B | 5.54B | 5.52B |
| EBITDA | 3.66B | 5.15B | 2.10B | 2.42B | 1.55B | 1.88B |
| Net Income | 2.97B | 1.72B | 805.58M | 1.01B | 452.33M | 643.26M |
Balance Sheet | ||||||
| Total Assets | 25.43B | 24.54B | 19.65B | 19.16B | 18.65B | 18.09B |
| Cash, Cash Equivalents and Short-Term Investments | 1.61B | 994.86M | 1.35B | 1.11B | 762.96M | 681.75M |
| Total Debt | 7.16B | 8.27B | 5.96B | 5.62B | 5.62B | 4.12B |
| Total Liabilities | 9.15B | 10.08B | 7.27B | 6.99B | 6.78B | 5.35B |
| Stockholders Equity | 16.28B | 14.46B | 12.43B | 12.20B | 11.89B | 12.75B |
Cash Flow | ||||||
| Free Cash Flow | -640.29M | 464.77M | 1.56B | 1.71B | -396.95M | -1.18B |
| Operating Cash Flow | -556.84M | 592.17M | 1.78B | 2.16B | 9.40M | -732.41M |
| Investing Cash Flow | -76.41M | -120.77M | -175.15M | -409.07M | -347.44M | -401.18M |
| Financing Cash Flow | 305.55M | -835.65M | -1.34B | -1.39B | 417.98M | 133.61M |
Chow Sang Sang Holdings International Technical Analysis
Positive
16.60
Price Trends
12.31
Positive
11.80
Positive
12.07
Positive
Market Momentum
0.62
Positive
55.90
Neutral
24.07
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0116, the sentiment is Positive. The current price of 16.6 is above the 20-day moving average (MA) of 14.19, above the 50-day MA of 12.31, and above the 200-day MA of 12.07, indicating a bullish trend. The MACD of 0.62 indicates Positive momentum. The RSI at 55.90 is Neutral, neither overbought nor oversold. The STOCH value of 24.07 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0116.
Chow Sang Sang Holdings International Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | HK$2.18B | 3.72 | 9.96% | 6.92% | 8.83% | 109.28% | |
76 Outperform | HK$9.63B | 3.27 | 19.31% | 7.58% | 16.22% | 151.59% | |
69 Neutral | HK$12.67B | 6.30 | 14.28% | 7.16% | 28.96% | 86.00% | |
68 Neutral | HK$118.10B | 13.35 | 33.61% | 5.46% | 5.29% | 53.87% | |
65 Neutral | HK$5.90B | 5.22 | 22.49% | 7.52% | ― | ― | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | HK$181.90M | 1.57 | 27.01% | 1.77% | -1.93% | ― |
* Consumer Cyclical Sector Average
HK:0116
Chow Sang Sang Holdings International
14.11
0.75
5.61%
HK:1929
Chow Tai Fook Jewellery Group
12.28
-3.05
-19.90%
HK:0887
Emperor Watch & Jewellery
0.30
0.02
7.66%
HK:0590
Luk Fook Holdings (International)
21.92
-3.82
-14.85%
HK:0417
Tse Sui Luen Jewellery (International) Ltd
0.72
-0.85
-54.14%
HK:6168
Zhou Liu Fu Jewellery Co., Ltd. Class H
13.43
-34.13
-71.76%
Chow Sang Sang Holdings International Corporate Events
Chow Sang Sang Declares First Interim Dividend for 2026
Aug 26, 2026
Chow Sang Sang Holdings International Limited has declared a first interim ordinary dividend of HKD 0.28 per share for the financial year ending 31 December 2026, based on its results for the period ended 30 June 2026. The dividend will be paid in...
Chow Sang Sang Delivers Strong Profit Surge in 2026 Interim Results
Aug 26, 2026
Chow Sang Sang Holdings International reported a strong first-half performance for 2026, with total turnover from continuing operations rising 17% to HK$12.88 billion, driven mainly by an 18% increase in retail sales. Other businesses saw a 40% de...
Chow Sang Sang flags sharp interim profit surge on stronger sales and bullion gains
Aug 17, 2026
Chow Sang Sang Holdings International expects a sharp rise in interim profit from continuing operations for the six months ended 30 June 2026, projecting HKD2.1 billion to HKD2.2 billion versus HKD910 million a year earlier. The increase is driven...
Chow Sang Sang Sets Board Meeting to Approve Interim Results and Consider Dividend
Aug 13, 2026
Chow Sang Sang Holdings International has scheduled a board meeting for 26 August 2026 to review and approve the group’s interim results for the six months ended 30 June 2026. The board will also consider the declaration of an interim divide...
Chow Sang Sang posts strong Q2 jewellery sales on resilient gold demand
Jul 17, 2026
Chow Sang Sang Holdings International Limited reported solid operational momentum for the three months ended 30 June 2026, driven by its extensive jewellery retail footprint in the Chinese Mainland, Hong Kong and Macau and a diversified portfolio ...
Chow Sang Sang Updates Registered Office Address in Bermuda
Jul 17, 2026
Chow Sang Sang Holdings International Limited announced a change of its registered office address in Bermuda, effective 3 August 2026. The new registered office will be located at Richmond House, 12 Par-la-Ville Road, Hamilton HM 08, Bermuda.This ...
Chow Sang Sang Shareholders Back All Resolutions at 2026 AGM
May 29, 2026
Shareholders of Chow Sang Sang Holdings International Limited approved all resolutions at the 29 May 2026 annual general meeting, including adoption of the 2025 audited accounts and re‑election of four directors, with each motion receiving w...
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.