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Playmates Holdings
(0635)
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Rating:56Neutral
Price Target:
HK$0.52
â–²(3.00% Upside)
Action:Reiterated
Date:08/04/26
The score is driven primarily by mixed financial performance: a strong, low-debt balance sheet and positive free cash flow provide resilience, but a sharp revenue decline and continued large net losses materially weaken the investment profile. Technicals are neutral-to-soft with the stock below key longer-term moving averages and slightly negative momentum. Valuation gets some support from a high dividend yield, though negative earnings (negative P/E) limit confidence.
Positive Factors
Low Financial Leverage
Very low leverage reduces refinancing and solvency risk, giving Playmates greater resilience during weak toy demand. The sizeable equity cushion also preserves flexibility to sustain operations, fund selective initiatives, and manage volatility without depending heavily on creditors.
Negative Factors
Material Revenue Contraction
A sharp and continuing revenue decline signals weakening demand, product timing, or market execution across the toy business. Lower scale can pressure fixed-cost absorption, reduce marketing efficiency, and make it harder for the company to convert its established product economics into sustainable growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Financial Leverage
Very low leverage reduces refinancing and solvency risk, giving Playmates greater resilience during weak toy demand. The sizeable equity cushion also preserves flexibility to sustain operations, fund selective initiatives, and manage volatility without depending heavily on creditors.
Read all positive factors
Playmates Holdings (0635) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.03B
Dividend Yield9%
Average Volume (3M)154.32K
Price to Earnings (P/E)―
Beta (1Y)0.20
Revenue Growth-18.78%
EPS Growth42.15%
CountryHK
Employees86
SectorConsumer Cyclical
Sector Strength84
IndustryLeisure
Share Statistics
EPS (TTM)-0.18
Shares Outstanding2,068,000,000
10 Day Avg. Volume368,509
30 Day Avg. Volume154,323
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)0.22
Price to Sales (P/S)1.54
P/FCF Ratio11.54
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
Playmates Holdings Business Overview & Revenue Model
Company Description
Playmates Holdings Limited functions as an investment holding enterprise, predominantly centered on the ideation, manufacturing, promotion, and worldwide distribution of playthings. Its operational footprint extends across Hong Kong, the Americas,...
How the Company Makes Money
Playmates Holdings makes money mainly through (1) its toy and related products business and (2) returns from investment and property-related interests.
1) Toys and related products (operating revenue)
- Product sales: The core operating revenue i...
Playmates Holdings Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
76
Positive
Cash Flow
62
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 665.23M | 1.09B | 1.27B | 719.63M | 860.76M |
| Gross Profit | 384.43M | 645.48M | 784.08M | 438.06M | 523.88M |
| EBITDA | 64.93M | -231.73M | 337.73M | -146.63M | 23.57M |
| Net Income | -362.19M | -382.28M | 10.34M | -212.78M | -49.43M |
Balance Sheet | |||||
| Total Assets | 5.49B | 6.07B | 6.78B | 6.65B | 7.54B |
| Cash, Cash Equivalents and Short-Term Investments | 1.12B | 1.21B | 1.19B | 1.22B | 1.63B |
| Total Debt | 115.12M | 181.65M | 237.81M | 349.08M | 798.94M |
| Total Liabilities | 383.96M | 472.56M | 711.52M | 592.86M | 1.13B |
| Stockholders Equity | 4.56B | 5.00B | 5.49B | 5.57B | 5.92B |
Cash Flow | |||||
| Free Cash Flow | 88.73M | 222.12M | 170.55M | 192.26M | 127.52M |
| Operating Cash Flow | 94.11M | 225.71M | 172.88M | 211.09M | 159.87M |
| Investing Cash Flow | 210.93M | 120.40M | -551.23M | -23.21M | -44.20M |
| Financing Cash Flow | -203.83M | -197.27M | -229.76M | -568.26M | -122.71M |
Playmates Holdings Technical Analysis
Positive
0.50
Price Trends
0.46
Positive
0.47
Positive
0.47
Positive
Market Momentum
0.01
Negative
75.25
Negative
59.43
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0635, the sentiment is Positive. The current price of 0.5 is above the 20-day moving average (MA) of 0.47, above the 50-day MA of 0.46, and above the 200-day MA of 0.47, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 75.25 is Negative, neither overbought nor oversold. The STOCH value of 59.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0635.
Playmates Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | HK$202.82B | 13.51 | 57.49% | 1.74% | 86.78% | 101.48% | |
71 Outperform | HK$1.86B | 4.87 | 6.09% | 22.94% | 0.34% | 40.53% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | HK$1.03B | -4.18 | -5.52% | 9.00% | -18.78% | 42.15% | |
53 Neutral | HK$539.12M | -74.22 | -0.68% | 14.74% | -23.66% | -152.03% | |
50 Neutral | HK$194.00M | -31.29 | -36.67% | 92.02% | 1.90% | 11.43% | |
45 Neutral | HK$186.32M | -0.73 | -14.23% | 1.22% | 4.04% | -16.43% |
* Consumer Cyclical Sector Average
HK:0635
Playmates Holdings
0.50
0.02
5.04%
HK:1086
Goodbaby International Holdings
1.10
-0.14
-11.41%
HK:0869
Playmates Toys
0.47
-0.12
-20.34%
HK:0180
Kader Holdings Co. Ltd.
0.20
-0.03
-11.71%
HK:9992
Pop Mart International Group Limited
156.20
-126.39
-44.73%
HK:3830
Kiddieland International Ltd.
0.20
0.12
163.51%
Playmates Holdings Corporate Events
Playmates Holdings Declares Interim Dividend for First Half of 2026
Aug 21, 2026
Playmates Holdings Limited has declared an interim ordinary dividend of HKD 0.015 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 practice of retur...
Playmates Holdings Narrows Loss as Property Revenue Rises but Revaluation Deficit Persists
Aug 21, 2026
Playmates Holdings reported group revenue of HK$267.3 million for the six months ended 30 June 2026, up slightly year-on-year, with toy business sales stable at HK$186.1 million and property investments and management revenue rising 8.0% to HK$80....
Playmates Holdings Sets Board Meeting to Approve Interim Results and Consider Dividend
Aug 7, 2026
Playmates Holdings has scheduled a board meeting in Hong Kong on 21 August 2026 to review and approve the interim results for the six months ended 30 June 2026 and to authorise their publication. The board will also consider the declaration of an ...
Playmates Holdings to Relocate Bermuda Registered Office and Share Registrar
Jul 24, 2026
Playmates Holdings will change the address of its registered office and its principal share registrar and transfer office in Bermuda to Richmond House, 12 Par-la-Ville Road, Hamilton HM 08, effective 3 August 2026. The company emphasized that its ...
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.