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National Electronics Holdings
(0213)
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Rating:53Neutral
Price Target:
HK$0.40
▲(10.00% Upside)
Action:Reiterated
Date:03/24/26
The score is held back primarily by weak and volatile cash generation and elevated leverage with modest returns on equity. These risks outweigh the improved recent profitability, while neutral-to-slightly positive technicals and a very low P/E provide partial support.
Positive Factors
Improved Profitability / Margins
The sharp net margin improvement to ~19% suggests durable gains from better pricing, product mix, or cost control. If sustained, higher margins materially increase cash retained per unit of revenue, enhancing the firm's ability to service debt, invest in projects, and rebuild liquidity without relying solely on external financing.
Negative Factors
Weak and Volatile Cash Generation
Persistent negative operating and free cash flow across multiple years is a structural concern: it limits internal funding for capex, dividends, and debt repayment. Continued cash shortfalls force reliance on external financing or asset disposals, increasing liquidity risk and constraining strategic flexibility over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Profitability / Margins
The sharp net margin improvement to ~19% suggests durable gains from better pricing, product mix, or cost control. If sustained, higher margins materially increase cash retained per unit of revenue, enhancing the firm's ability to service debt, invest in projects, and rebuild liquidity without relying solely on external financing.
Read all positive factors
National Electronics Holdings (0213) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$328.55M
Dividend Yield1.47%
Average Volume (3M)60.15K
Price to Earnings (P/E)3.3
Beta (1Y)0.26
Revenue Growth705.99%
EPS Growth-56.00%
CountryHK
Employees180
SectorConsumer Cyclical
Sector Strength84
IndustryPersonal Products & Services
Share Statistics
EPS (TTM)0.10
Shares Outstanding912,634,950
10 Day Avg. Volume63,900
30 Day Avg. Volume60,149
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)0.14
Price to Sales (P/S)0.74
P/FCF Ratio-0.89
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
National Electronics Holdings Business Overview & Revenue Model
Company Description
National Electronics Holdings Limited, an investment holding company, manufactures, assembles, and sells electronic watches and watch parts in the People's Republic of China, Hong Kong, North America, Europe, and internationally. It operates throu...
National Electronics Holdings Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
44
Neutral
Cash Flow
28
Negative
| Breakdown | TTM | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 536.06M | 502.31M | 578.22M | 501.31M | 694.56M | 1.44B |
| Gross Profit | 134.22M | 127.02M | 120.93M | 107.80M | 87.82M | 160.60M |
| EBITDA | 176.12M | 294.59M | 280.49M | 9.61M | 96.69M | 223.66M |
| Net Income | 96.13M | 93.90M | 41.13M | 48.87M | 91.36M | 116.26M |
Balance Sheet | ||||||
| Total Assets | 9.55B | 9.51B | 8.58B | 8.51B | 8.34B | 7.36B |
| Cash, Cash Equivalents and Short-Term Investments | 478.11M | 316.00M | 568.33M | 1.00B | 1.30B | 1.33B |
| Total Debt | 5.45B | 5.67B | 4.94B | 4.91B | 4.70B | 4.14B |
| Total Liabilities | 6.93B | 6.93B | 6.03B | 5.96B | 5.72B | 4.80B |
| Stockholders Equity | 2.62B | 2.58B | 2.55B | 2.54B | 2.62B | 2.56B |
Cash Flow | ||||||
| Free Cash Flow | -140.16M | -415.64M | -229.32M | -291.20M | -369.58M | 529.59M |
| Operating Cash Flow | -129.90M | -405.37M | -220.81M | -289.59M | -368.36M | 534.93M |
| Investing Cash Flow | 72.91M | 32.27M | 115.75M | -155.69M | -69.65M | -396.79M |
| Financing Cash Flow | -33.28M | 437.45M | -275.74M | 167.74M | 451.12M | -81.06M |
National Electronics Holdings Technical Analysis
Neutral
0.36
Price Trends
0.39
Negative
0.39
Negative
0.38
Negative
Market Momentum
-0.01
Positive
42.14
Neutral
16.67
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0213, the sentiment is Neutral. The current price of 0.36 is below the 20-day moving average (MA) of 0.37, below the 50-day MA of 0.39, and below the 200-day MA of 0.38, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 42.14 is Neutral, neither overbought nor oversold. The STOCH value of 16.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:0213.
National Electronics Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | HK$1.81B | 3.87 | 5.10% | 4.05% | 10.23% | 66.75% | |
70 Outperform | HK$1.60B | 8.86 | 10.00% | 9.67% | -0.78% | -10.18% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
53 Neutral | HK$328.55M | 3.29 | 3.69% | 1.47% | 705.99% | -56.00% | |
53 Neutral | HK$1.23B | -39.01 | -1.15% | ― | -37.78% | 57.76% | |
46 Neutral | HK$71.04M | -1.49 | -10.07% | ― | 0.91% | 55.74% | |
41 Neutral | HK$471.94M | -8.65 | -68.76% | ― | -20.08% | -9.47% |
* Consumer Cyclical Sector Average
HK:0213
National Electronics Holdings
0.36
0.00
0.00%
HK:0887
Emperor Watch & Jewellery
0.25
-0.11
-30.17%
HK:3389
Hengdeli Holdings
0.28
0.17
145.61%
HK:0398
Oriental Watch Holdings
3.30
0.26
8.62%
HK:0084
Stelux Holdings International Limited
0.07
<0.01
11.67%
HK:1856
Ernest Borel Holdings Ltd
1.31
0.32
32.32%
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.