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Wing On Co. International Ltd.
(0289)
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Rating:59Neutral
Price Target:
HK$14.00
â–²(6.14% Upside)
Action:Reiterated
Date:08/06/26
The score is held back primarily by weak and volatile operating performance (declining revenue and sizable losses in 2024–2025), partially offset by a very conservative balance sheet and improved 2025 cash generation. Technical indicators are broadly neutral, while valuation is supported by a high dividend yield but tempered by a negative P/E due to losses.
Positive Factors
Conservative balance sheet
The company’s very low leverage and debt-to-equity near zero provide durable financial flexibility and lower refinancing risk. This balance sheet strength lets the firm fund capex or support development cycles from internal resources, improving resilience across cycles.
Negative Factors
Declining revenue trend
Top-line deterioration across consecutive years signals weakening demand or lower portfolio utilization. Sustained revenue decline erodes operating leverage and reduces the base from which margins and cash returns can be rebuilt, threatening long-term earnings stability.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
The company’s very low leverage and debt-to-equity near zero provide durable financial flexibility and lower refinancing risk. This balance sheet strength lets the firm fund capex or support development cycles from internal resources, improving resilience across cycles.
Read all positive factors
Wing On Co. International Ltd. (0289) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$3.79B
Dividend Yield8.89%
Average Volume (3M)15.70K
Price to Earnings (P/E)―
Beta (1Y)0.06
Revenue Growth-1.82%
EPS Growth67.15%
CountryHK
Employees499
SectorConsumer Cyclical
Sector Strength84
IndustryDepartment Stores
Share Statistics
EPS (TTM)-0.94
Shares Outstanding288,259,000
10 Day Avg. Volume23,300
30 Day Avg. Volume15,700
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)0.24
Price to Sales (P/S)4.72
P/FCF Ratio21.98
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
Wing On Co. International Ltd. Business Overview & Revenue Model
Company Description
Wing On Company International Limited conducts its main business through department store operations across Hong Kong, mainland China, Australia, and the United States. The company's activities are broadly categorized into two principal divisions:...
How the Company Makes Money
Wing On Co. International Ltd. makes money primarily through real estate-related cash flows. The core revenue stream is rental and related income earned from leasing investment properties (e.g., commercial and/or other property spaces) to tenants,...
Wing On Co. International Ltd. Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
86
Very Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 866.41M | 851.97M | 946.23M | 1.06B | 1.04B | 1.13B |
| Gross Profit | 453.61M | 450.30M | 578.49M | 662.43M | 667.82M | 738.36M |
| EBITDA | 185.44M | 190.05M | -803.75M | 241.19M | -136.70M | 429.72M |
| Net Income | -271.56M | -330.50M | -919.11M | 123.36M | -300.95M | 552.50M |
Balance Sheet | ||||||
| Total Assets | 17.74B | 17.66B | 18.07B | 19.72B | 19.90B | 20.64B |
| Cash, Cash Equivalents and Short-Term Investments | 4.96B | 4.73B | 4.29B | 4.19B | 4.04B | 4.12B |
| Total Debt | 117.18M | 19.81M | 96.20M | 53.39M | 20.84M | 75.61M |
| Total Liabilities | 1.44B | 1.17B | 1.21B | 1.34B | 1.32B | 1.39B |
| Stockholders Equity | 16.27B | 16.46B | 16.83B | 18.36B | 18.55B | 19.22B |
Cash Flow | ||||||
| Free Cash Flow | 234.02M | 182.86M | 15.84M | 191.84M | -6.25M | 100.42M |
| Operating Cash Flow | 333.59M | 209.77M | 21.68M | 211.40M | -6.25M | 100.42M |
| Investing Cash Flow | -720.99M | 82.98M | 98.01M | 290.68M | -755.33M | 279.71M |
| Financing Cash Flow | -264.60M | -373.84M | -236.37M | -343.60M | -197.03M | -377.50M |
Wing On Co. International Ltd. Technical Analysis
Negative
13.19
Price Trends
13.29
Negative
13.72
Negative
13.43
Negative
Market Momentum
-0.07
Negative
48.03
Neutral
35.56
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0289, the sentiment is Negative. The current price of 13.19 is above the 20-day moving average (MA) of 13.16, below the 50-day MA of 13.29, and below the 200-day MA of 13.43, indicating a bearish trend. The MACD of -0.07 indicates Negative momentum. The RSI at 48.03 is Neutral, neither overbought nor oversold. The STOCH value of 35.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0289.
Wing On Co. International Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
59 Neutral | HK$3.79B | -14.00 | -1.66% | 8.89% | -1.82% | 67.15% | |
57 Neutral | HK$455.26M | 12.16 | 1.06% | 7.70% | -13.36% | 155.17% | |
49 Neutral | HK$864.02M | -67.29 | -0.12% | 56.76% | 2.73% | 84.54% | |
45 Neutral | HK$420.47M | -5.80 | 687.69% | 2.50% | -12.57% | -49.50% | |
41 Neutral | HK$117.25M | -1.03 | -14.50% | 2.86% | 0.84% | -437.97% | |
40 Underperform | HK$67.60M | -0.18 | 32.83% | 5.26% | -3.13% | 9.97% |
* Consumer Cyclical Sector Average
HK:0289
Wing On Co. International Ltd.
13.16
1.11
9.18%
HK:2136
Lifestyle China Group
0.59
0.17
39.81%
HK:0825
New World Department Store China Limited
0.27
-0.03
-11.48%
HK:0984
AEON Stores (Hong Kong) Co., Limited
0.25
-0.19
-43.68%
HK:0244
Sincere Co. Ltd.
0.32
-0.05
-13.51%
HK:0312
Shirble Department Store Holdings (China) Ltd.
0.05
-0.06
-54.90%
Wing On Co. International Ltd. Corporate Events
Wing On Expects Narrowed Interim Loss but Weaker Underlying Profit
Aug 5, 2026
Wing On Company International Ltd. has issued a profit alert indicating a significantly reduced loss for the six months ended 30 June 2026, with loss attributable to shareholders narrowing to about HK$91.4 million from HK$150.3 million a year earl...
Wing On Shareholders Back All AGM Resolutions, Renew Board and Mandates
Jun 15, 2026
Wing On Company International Ltd. reported that all resolutions at its 15 June 2026 annual general meeting were approved by shareholders via poll, with no abstentions or voting restrictions and Tricor Investor Services acting as scrutineer. Share...
Wing On Announces Retirement of Independent Director and Audit Committee Changes
Jun 15, 2026
Wing On Company International Ltd. has announced the retirement of independent non-executive director Miss Tam Wai Chu Maria, who has also stepped down from the Audit Committee at the conclusion of the company’s annual general meeting on 15 ...
Wing On Sets Out Board Line-Up and Committee Roles
Jun 15, 2026
Wing On Company International Ltd., incorporated in Bermuda and listed in Hong Kong under stock code 289, is overseen by a board comprising executive and independent non-executive directors. The company maintains standard governance practices thro...
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.