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Hong Kong Economic Times Holdings
(0423)
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Rating:47Neutral
Price Target:
HK$0.60
▼(-8.46% Downside)
Action:Reiterated
Date:10/07/26
The score is held down primarily by weakening financial performance (revenue declines, losses, and recent negative free cash flow). Technicals also remain bearish with the price below major moving averages and negative MACD, despite oversold signals. A high dividend yield provides some valuation support, while the very low leverage balance sheet reduces financial risk but does not offset the operational and cash flow deterioration.
Positive Factors
Very low leverage
Extremely low leverage and substantial equity reduce refinancing and solvency pressure, giving the company flexibility to withstand operating weakness. This financial cushion can preserve strategic options and support continued investment while management works to restore earnings.
Negative Factors
Persistent revenue decline
Repeated annual revenue contraction signals sustained pressure on the company’s audience monetisation and commercial base rather than a one-period fluctuation. Continued top-line erosion can reduce operating leverage, weaken investment capacity and make a return to profitability more difficult.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage
Extremely low leverage and substantial equity reduce refinancing and solvency pressure, giving the company flexibility to withstand operating weakness. This financial cushion can preserve strategic options and support continued investment while management works to restore earnings.
Read all positive factors
Hong Kong Economic Times Holdings (0423) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$261.12M
Dividend Yield11.57%
Average Volume (3M)57.80K
Price to Earnings (P/E)―
Beta (1Y)0.16
Revenue Growth-10.33%
EPS Growth-20.44%
CountryHK
Employees958
SectorCommunication Services
Sector Strength97
IndustryPublishing
Share Statistics
EPS (TTM)-0.10
Shares Outstanding431,600,000
10 Day Avg. Volume58,400
30 Day Avg. Volume57,800
Financial Highlights & Ratios
PEG Ratio-0.38
Price to Book (P/B)0.46
Price to Sales (P/S)0.47
P/FCF Ratio-72.88
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
Hong Kong Economic Times Holdings Business Overview & Revenue Model
Company Description
Hong Kong Economic Times Holdings Limited operates primarily in Hong Kong as a diversified multimedia enterprise and an investment holding company. Its operations are structured into two principal divisions: Media, and Financial News Agency, Infor...
How the Company Makes Money
The company generates revenue primarily from monetising its media content and related services. Key revenue streams typically include: (1) Advertising and sponsorship sales across its media platforms (e.g., print publications and online/digital pr...
Hong Kong Economic Times Holdings Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
78
Positive
Cash Flow
29
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 720.68M | 803.73M | 923.89M | 1.02B | 1.04B |
| Gross Profit | 313.94M | 336.70M | 371.99M | 422.81M | 461.81M |
| EBITDA | -7.94M | -1.35M | 124.52M | 81.55M | 94.40M |
| Net Income | -42.97M | -35.69M | 54.22M | 27.46M | 33.02M |
Balance Sheet | |||||
| Total Assets | 967.92M | 1.07B | 1.17B | 1.20B | 1.20B |
| Cash, Cash Equivalents and Short-Term Investments | 413.31M | 459.78M | 526.47M | 464.16M | 460.95M |
| Total Debt | 1.32M | 8.70M | 2.14M | 11.97M | 3.16M |
| Total Liabilities | 215.43M | 238.68M | 260.44M | 304.80M | 292.70M |
| Stockholders Equity | 729.72M | 807.79M | 886.19M | 871.20M | 885.34M |
Cash Flow | |||||
| Free Cash Flow | -4.62M | -31.00M | -27.52M | 56.94M | 47.15M |
| Operating Cash Flow | 2.52M | -17.59M | -2.59M | 82.97M | 100.56M |
| Investing Cash Flow | 8.25M | 108.25M | 53.42M | -176.47M | 91.03M |
| Financing Cash Flow | -42.57M | -51.46M | -53.80M | -53.12M | -57.16M |
Hong Kong Economic Times Holdings Technical Analysis
Negative
0.65
Price Trends
0.64
Negative
0.66
Negative
0.69
Negative
Market Momentum
-0.01
Positive
29.67
Positive
17.86
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0423, the sentiment is Negative. The current price of 0.65 is above the 20-day moving average (MA) of 0.63, above the 50-day MA of 0.64, and below the 200-day MA of 0.69, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 29.67 is Positive, neither overbought nor oversold. The STOCH value of 17.86 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0423.
Hong Kong Economic Times Holdings Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | HK$21.13B | 18.88 | 8.94% | 8.69% | -3.92% | -16.02% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
57 Neutral | HK$924.58M | 9.93 | 4.06% | 5.03% | -8.97% | ― | |
47 Neutral | HK$649.18M | -4.79 | -4.76% | 1.45% | 9.66% | 52.77% | |
47 Neutral | HK$261.12M | -6.07 | -5.76% | 11.57% | -10.33% | -20.44% | |
45 Neutral | HK$163.78M | -2.09 | -5.10% | 2.15% | -8.36% | 5.41% | |
41 Neutral | HK$435.21M | -0.77 | 21.89% | ― | -13.54% | -6.79% |
* Communication Services Sector Average
HK:0423
Hong Kong Economic Times Holdings
0.61
-0.13
-17.80%
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0.06
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Phoenix Media Investment (Holdings)
1.30
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-24.86%
HK:0811
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7.93
-1.96
-19.84%
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0.19
-0.07
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HK:0511
Television Broadcasts Limited
1.98
-1.42
-41.76%
Hong Kong Economic Times Holdings Corporate Events
Hong Kong Economic Times Holdings Wins Strong Shareholder Backing at 2026 AGM
Aug 6, 2026
Shareholders of Hong Kong Economic Times Holdings Limited overwhelmingly approved all resolutions at the annual general meeting held on 6 August 2026, including adoption of the audited financial statements and a final dividend of HK4.0 cents per s...
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.