Wing On Co. International Ltd. (0289) AI Stock Analysis

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Wing On Co. International Ltd.

(HKEX:0289)

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Rating:51Neutral

Price Target:HKD 12.50▲(1.21% Upside)

Action:reiterated

Date:11/07/26

The score is primarily constrained by declining revenue, volatile profitability, and inconsistent cash generation. The low-debt balance sheet and high dividend yield provide support, but weak technical momentum and negative earnings reduce the overall rating.

Positive Factors

Very low leverageA debt-to-equity ratio consistently near zero gives Wing On substantial financial flexibility and limits refinancing pressure. This conservative structure can help the company withstand weaker property conditions, preserve capital for investment, and avoid interest burdens that could further damage earnings.

Negative Factors

Declining revenueRevenue declines across 2024 and 2025 point to a sustained top-line challenge rather than a single-period fluctuation. Continued contraction can reduce the income generated by the property portfolio, weaken operating leverage, and make it harder to absorb fixed costs over the next several quarters.

Wing On Co. International Ltd. (0289) vs. iShares MSCI Hong Kong ETF (EWH)

Market Cap: HKD 3.55B
Dividend Yield: 8.02%
Average Volume (3M): 26.16K
Price to Earnings (P/E): -13.1
Beta (1Y): 0.09
Revenue Growth: -1.82%
EPS Growth: 67.15%
Country: Hong Kong
Employees: 499
Sector: Consumer Cyclical
Sector Strength: 61
Industry: Department Stores

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: re...

Wing On Co. International Ltd. Financial Statement Overview

Summary

A strong, minimally leveraged balance sheet supports the score, but persistent revenue declines, large profit swings, and inconsistent cash-flow growth materially weaken financial performance.

Income Statement

35Negative

Balance Sheet

75Positive

Cash Flow

55Neutral

Financial statement breakdown
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	216.46M	-774.97M	241.19M	-108.76M	459.40M
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

Technical Analysis SentimentNegative

Last Price12.35

Price Trends

50DMA12.74Negative

100DMA12.89Negative

200DMA13.20Negative

Market Momentum

MACD-0.12Positive

RSI35.21Neutral

STOCH23.13Neutral

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 12.35 is below the 20-day moving average (MA) of 12.54, below the 50-day MA of 12.74, and below the 200-day MA of 13.20, indicating a bearish trend. The MACD of -0.12 indicates Positive momentum. The RSI at 35.21 is Neutral, neither overbought nor oversold. The STOCH value of 23.13 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

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

HK:0289 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
HK:0289	51Neutral	HKD 3.56B	-13.14	-1.66%	8.02%	-1.82%	67.15%
HK:2136	50Neutral	HKD 710.26M	-54.39	-0.12%	―	2.73%	84.54%
HK:0244	47Neutral	HKD 420.47M	-7.76	230.49%	―	-12.57%	-49.50%
HK:0984	42Neutral	HKD 59.54M	-0.17	32.83%	―	-3.13%	9.97%
HK:0312	42Neutral	HKD 82.32M	-0.71	-14.50%	―	0.84%	-437.97%
HK:0825	41Neutral	HKD 404.67M	-0.52	-23.92%	―	-10.14%	-3168.67%

* Consumer Cyclical Sector Average

Performance Comparison

HK:0289 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
HK:0289	Wing On Co. International Ltd.	12.35	0.20	1.68%
HK:2136	Lifestyle China Group	0.48	0.06	15.38%
HK:0825	New World Department Store China Limited	0.24	-0.08	-25.00%
HK:0984	AEON Stores (Hong Kong) Co., Limited	0.23	-0.18	-44.15%
HK:0244	Sincere Co. Ltd.	0.34	0.03	8.06%
HK:0312	Shirble Department Store Holdings (China) Ltd.	0.03	-0.05	-60.49%

Wing On Co. International Ltd. Corporate Events

Wing On Narrows Interim Loss Despite Property Valuation Hit

Aug 26, 2026

Wing On Company International Ltd. reported unaudited interim results for the six months ended 30 June 2026, with revenue rising to HK$430.7 million from HK$416.2 million on steady department store and property leasing activities. Profit from operati...

Wing On Co. Declares Interim HKD 0.25 Dividend for First Half of 2026

Aug 26, 2026

Wing On Company International Limited has declared an interim ordinary cash dividend of HKD 0.25 per share for the six months ended 30 June 2026, for the financial year ending 31 December 2026. The move underscores the company’s continued commitment...

Wing On Schedules August Board Meeting to Approve Interim Results and Consider Dividend

Aug 12, 2026

Wing On Company International Ltd. has scheduled a board meeting for 26 August 2026 to review and approve its interim financial results for the six months ended 30 June 2026. The board will also decide on the publication of these results, signaling f...

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.

Date of analysis: Nov 07, 2026

Wing On Co. International Ltd. AI Stock Analysis