TipRanks
Go Ultimate55% OFF

Top Form International Limited (0333) AI Stock Analysis

HK:0333

Top Form International Limited

(HKEX:0333)

Select Model
Rating:41Neutral
Price Target:HKD 0.18â–¼(-4.76% Downside)
Action:upgraded
Date:10/28/26

Weak financial performance from deteriorating profitability, negative cash flows, and higher leverage is the primary driver. Bearish technicals with price below moving averages add pressure, while negative P/E limits valuation appeal.

Positive Factors
Integrated Manufacturing ModelThe design-to-production model gives Top Form an integrated role across apparel development and manufacturing for branded customers. This breadth can support customer retention and operational relevance over the medium term, provided the company can restore profitability and convert its capabilities into stronger demand.
Negative Factors
Renewed Losses and Revenue DeclineThe return to sizable and deepening losses after near break-even performance in 2024 signals that the core business has not yet achieved durable earnings stability. The accompanying 2026 revenue decline reduces operating leverage and makes a near-term recovery more dependent on reversing demand and margin pressure.

Top Form International Limited (0333) vs. iShares MSCI Hong Kong ETF (EWH)

-50%-40%-30%-20%-10%0%10%20%HK:0333-40.94%EWH+8.19%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
HKD 64.43M
Dividend Yield
―
Average Volume (3M)
79.42K
Price to Earnings (P/E)
-0.7
Beta (1Y)
0.19
Revenue Growth
-17.26%
EPS Growth
-176.64%
Country
Hong Kong
Employees
6,498
Sector
Consumer Cyclical
Sector Strength
61
Industry
Apparel - Manufacturers

Top Form International Limited Business Overview & Revenue Model

Company Description

Top Form International Limited functions as an investment holding entity primarily dedicated to the conceptualization, production, and global sale of women's intimate wear. Its product line encompasses brassieres, ladies' undergarments, and seamless...

Top Form International Limited Financial Statement Overview

Summary

High revenue volatility with sharp decline, shift to large net losses, negative operating and free cash flow, and rising leverage due to accumulated losses signal elevated financial risk.

Income Statement

25Negative

Balance Sheet

38Negative

Cash Flow

22Negative
Financial statement breakdown
BreakdownTTMJun 2025Jun 2024Jun 2023Jun 2022Jun 2021
Income Statement
Total Revenue1.01B1.01B1.22B1.13B1.01B1.48B
Gross Profit184.94M184.94M241.97M255.49M175.34M273.93M
EBITDA-44.00M-51.53M32.66M56.81M-22.15M68.42M
Net Income-90.20M-90.20M-32.61M-2.21M-84.73M3.55M
Balance Sheet
Total Assets738.75M738.75M771.82M803.36M800.53M898.42M
Cash, Cash Equivalents and Short-Term Investments57.29M57.29M90.54M102.26M112.13M136.49M
Total Debt175.57M175.57M120.21M117.23M152.96M141.76M
Total Liabilities441.01M441.01M386.71M407.32M380.71M391.10M
Stockholders Equity266.20M266.20M356.47M374.62M373.00M466.86M
Cash Flow
Free Cash Flow-71.15M-71.15M-1.49M47.96M-7.09M42.59M
Operating Cash Flow-63.91M-63.91M11.55M60.71M23.00M70.12M
Investing Cash Flow-7.12M-7.12M-19.57M-5.21M-29.03M-25.47M
Financing Cash Flow39.09M39.09M-6.94M-64.25M-18.06M4.75M

Top Form International Limited Technical Analysis

Technical Analysis SentimentNegative
Last Price0.19

Price Trends

50DMA0.19Negative
100DMA0.19Negative
200DMA0.21Negative

Market Momentum

MACD-0.00Positive
RSI48.76Neutral
STOCH24.24Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0333, the sentiment is Negative. The current price of 0.19 is below the 20-day moving average (MA) of 0.19, below the 50-day MA of 0.19, and below the 200-day MA of 0.21, indicating a bearish trend. The MACD of -0.00 indicates Positive momentum. The RSI at 48.76 is Neutral, neither overbought nor oversold. The STOCH value of 24.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0333.

Top Form International Limited Peers Comparison

Overall Rating

UnderperformOutperform
Sector (61)

Financial Indicators

HK:0333 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
Sector *61Neutral$18.38B12.79-2.54%3.03%1.52%-15.83%
HK:2199HK:219961NeutralHKD 3.14B11.159.33%6.24%-1.56%53.99%
HK:2298HK:229860NeutralHKD 559.32M3.825.83%6.27%-1.84%29.22%
HK:0311HK:031150NeutralHKD 341.26M3.986.65%7.72%0.41%―
HK:3322HK:332244NeutralHKD 244.04M-1.80-10.95%―-16.20%-324.90%
HK:0333HK:033341NeutralHKD 56.90M-0.71-30.80%―-17.26%-176.64%
HK:1382HK:138240UnderperformHKD 1.09B13.262.83%8.86%-0.86%-50.37%

* Consumer Cyclical Sector Average

Performance Comparison

-25%0%25%50%75%HK:0333HK:1382HK:0311HK:3322HK:2199HK:2298Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
HK:0333 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
HK:0333Top Form International Limited0.19-0.13-40.94%
HK:1382Pacific Textiles Holdings 0.79-0.54-40.82%
HK:0311Luen Thai Holdings Limited0.330.1047.06%
HK:3322Win Hanverky Holdings Limited0.19-0.01-5.00%
HK:2199Regina Miracle International (Holdings) Limited2.560.7037.61%
HK:2298Cosmo Lady (China) Holdings Co. Ltd.0.26-0.08-23.65%

Top Form International Limited Corporate Events

Top Form Calls 2026 AGM, Seeks Fresh Share Issue Mandate

Oct 23, 2026

Top Form International Limited has called its annual general meeting for 26 November 2026 in Hong Kong, where shareholders will review the audited consolidated financial statements for the year ended 30 June 2026 and receive reports from the board an...

Top Form International Posts Sharply Wider Annual Loss as Revenue Declines

Sep 29, 2026

Top Form International reported a sharp deterioration in its financial performance for the year ended 30 June 2026, with revenue falling to HK$1,005.9 million from HK$1,215.7 million and gross profit declining accordingly. The combination of weaker s...

Top Form Secures US$3 Million Shareholder Loan on Exempt Connected Terms

Sep 29, 2026

Top Form International has secured an unsecured loan facility of up to US$3 million from its chairman and substantial shareholder, Mr. Wong, through subsidiary TFB. The facility carries interest at SOFR plus 2 percentage points, is available for draw...

Top Form Schedules Board Meeting to Approve Annual Results and Consider Final Dividend

Sep 15, 2026

Top Form International Limited has scheduled a board meeting for 29 September 2026 to review and approve the Group’s annual results for the financial year ended 30 June 2026. The board will also consider whether to recommend a final dividend, s...

Top Form weighs disposal of Shenzhen property and apparel consultancy subsidiary

Sep 2, 2026

Top Form International Limited has announced that it is exploring a potential disposal of its entire interest in Shenzhen Top Form Underwear Co., Limited, alongside Shenzhen Textile (Holdings) Co., Limited, which together hold 100 percent of the equi...

Top Form flags wider annual loss on weaker orders and impairments

Aug 31, 2026

Top Form International has warned that it expects a net loss of up to HK$90 million for the year ended 30 June 2026, widening sharply from a HK$28 million loss a year earlier. The company attributed the deterioration to a notable revenue decline driv...

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: Oct 28, 2026