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Truly International Holdings (0732) AI Stock Analysis

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HK:0732

Truly International Holdings

(HKEX:0732)

Select Model
Rating:62Neutral
Price Target:HKD 0.84â–²(4.07% Upside)
Action:reiterated
Date:09/30/26

The overall score reflects weakening revenue, thin margins, and compressed ROE as key risks, offset by strong and resilient cash flows and an attractive, high-yield valuation, while a weak technical setup with the price below major moving averages keeps near-term sentiment cautious.

Positive Factors
Strong cash generationStrong operating and free cash flow indicate that reported earnings are converting into cash, supporting internal funding for operations and investment. This provides resilience over the next several quarters, although the benefit is moderated by the company’s noted cash-flow volatility and only moderate debt coverage.
Negative Factors
Declining revenueFalling revenue points to weaker demand, shipment volume, product mix, or pricing across the company’s display and module activities. A continuing top-line contraction would reduce scale benefits, limit operating leverage, and make it harder to sustain margins or fund growth solely through the existing business.

Truly International Holdings (0732) vs. iShares MSCI Hong Kong ETF (EWH)

-30%-20%-10%0%10%20%HK:0732-16.15%EWH+10.60%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
HKD 273.54M
Dividend Yield
9.88%
Average Volume (3M)
1.40M
Price to Earnings (P/E)
10.2
Beta (1Y)
0.65
Revenue Growth
-11.48%
EPS Growth
-7.38%
Country
Hong Kong
Employees
13,400
Sector
Technology
Sector Strength
61
Industry
Hardware, Equipment & Parts

Truly International Holdings Business Overview & Revenue Model

Company Description

Truly International Holdings Limited functions as an investment holding company, primarily engaged in the manufacturing, distribution, and trading of liquid crystal display (LCD) solutions and a range of electronic consumer products. Its business ope...

How the Company Makes Money

Truly International Holdings makes money mainly by manufacturing and selling electronic display components and modules to downstream device makers. Its core revenue is generated from (1) sales of display products (such as LCD panels and LCD modules)...

Truly International Holdings Financial Statement Overview

Summary

Revenue decline, margin compression, and weaker ROE weigh on results, but strong operating and free cash flow alongside stable leverage provide a solid financial buffer.

Income Statement

45Neutral

Balance Sheet

65Positive

Cash Flow

75Positive
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue15.36B16.50B17.84B15.59B19.29B22.54B
Gross Profit1.22B1.28B1.39B1.98B2.28B3.42B
EBITDA1.81B1.82B1.91B2.06B2.34B3.04B
Net Income235.14M274.18M302.08M262.80M318.23M1.38B
Balance Sheet
Total Assets26.92B25.87B24.75B24.51B26.49B29.73B
Cash, Cash Equivalents and Short-Term Investments2.99B2.74B1.07B802.29M1.70B1.65B
Total Debt8.53B7.74B6.70B6.68B7.41B6.79B
Total Liabilities16.62B16.22B15.40B14.68B16.15B18.07B
Stockholders Equity9.99B9.58B9.22B9.60B9.99B11.28B
Cash Flow
Free Cash Flow4.36B5.16B6.83B4.77B3.68B5.30B
Operating Cash Flow4.62B5.59B7.40B5.28B4.57B5.83B
Investing Cash Flow-493.06M-391.11M-1.81B-825.53M-1.70B-587.08M
Financing Cash Flow-3.00B-4.09B-5.38B-4.50B-2.80B-4.31B

Truly International Holdings Technical Analysis

Technical Analysis SentimentPositive
Last Price0.81

Price Trends

50DMA0.80Positive
100DMA0.82Negative
200DMA0.88Negative

Market Momentum

MACD0.00Positive
RSI53.09Neutral
STOCH5.56Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0732, the sentiment is Positive. The current price of 0.81 is above the 20-day moving average (MA) of 0.81, above the 50-day MA of 0.80, and below the 200-day MA of 0.88, indicating a neutral trend. The MACD of 0.00 indicates Positive momentum. The RSI at 53.09 is Neutral, neither overbought nor oversold. The STOCH value of 5.56 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0732.

Truly International Holdings Peers Comparison

Overall Rating

UnderperformOutperform
Sector (61)

Financial Indicators

HK:0732 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
HK:2382HK:238275OutperformHKD 67.78B12.5616.45%1.89%20.36%51.70%
HK:0334HK:033467NeutralHKD 566.17M3.8110.46%―42.66%22.75%
HK:0285HK:028566NeutralHKD 46.28B18.376.40%0.85%4.29%-49.39%
HK:1478HK:147866NeutralHKD 5.08B3.0622.89%12.51%31.14%215.73%
HK:0732HK:073262NeutralHKD 2.35B10.232.40%9.88%-11.48%-7.38%
Sector *61Neutral$37.18B12.37-10.20%1.83%8.50%-7.62%
HK:0710HK:071060NeutralHKD 2.57B8.726.11%4.62%2.78%-25.10%

* Technology Sector Average

Performance Comparison

-50%-25%0%25%HK:0732HK:0285HK:1478HK:2382HK:0710HK:0334Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
HK:0732 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
HK:0732Truly International Holdings 0.81-0.19-19.24%
HK:0285BYD Electronic (International) Co 21.18-14.23-40.19%
HK:1478Q Technology (Group) Co 4.39-7.45-62.93%
HK:2382Sunny Optical Technology (Group) Co 63.80-5.52-7.96%
HK:0710BOE Varitronix 3.31-1.56-32.03%
HK:0334China Display Optoelectronics Technology Holdings Ltd0.28-0.07-20.00%

Truly International Holdings Corporate Events

Truly International Posts Turnover Decline for August and Year-to-Date 2026

Sep 4, 2026

Truly International Holdings Limited reported unaudited net consolidated turnover of approximately HK$1,344 million for August 2026, down about 7.0% from HK$1,445 million a year earlier. For the eight months ended 31 August 2026, unaudited net accumu...

Truly International Posts Lower Interim Profit and Cuts Dividend Amid Revenue Decline

Aug 26, 2026

Truly International Holdings reported unaudited interim results for the six months ended 30 June 2026 showing a notable downturn in performance. Revenue fell 14.1% year-on-year to HK$6.96 billion, while gross profit declined 9.4% to HK$577.3 million,...

Truly International Declares Interim Dividend for First Half of 2026

Aug 26, 2026

Truly International Holdings Limited has declared an interim ordinary cash dividend of HKD 0.03 per share for the six months ended 30 June 2026, for the financial year ending 31 December 2026. The dividend will be paid in Hong Kong dollars, with the...

Truly International Sets August Board Meeting to Approve Interim Results

Aug 11, 2026

Truly International Holdings Limited has scheduled a board meeting in Hong Kong on 26 August 2026 to review and approve the unaudited interim financial results for the six months ended 30 June 2026. The session will take place at the company’s...

Truly International Turnover Falls 14% in July and Year-to-Date

Aug 4, 2026

Truly International Holdings reported unaudited net consolidated turnover of approximately HK$1,259 million for July 2026, down about 14.2% from HK$1,468 million a year earlier. For the first seven months of 2026, accumulative turnover fell around 14...

Truly International Announces Planned Resignation of Executive Director

Jul 30, 2026

Truly International Holdings Limited, a Cayman Islands-incorporated company listed in Hong Kong under stock code 00732, operates through a group structure and is governed by a board that includes executive, non-executive and independent non-executive...

Truly International Updates Board and Committee Line-Up Effective July 2026

Jul 30, 2026

Truly International Holdings Limited has announced the latest composition of its board of directors, effective 31 July 2026, confirming a mix of executive, non-executive and independent non-executive directors. Chairman and Chief Executive Officer La...

Truly International Posts 14% Drop in First-Half 2026 Turnover

Jul 7, 2026

Truly International Holdings Limited reported unaudited net consolidated turnover of about HK$1,419 million for June 2026, a 1.5% decline from June 2025. The group’s unaudited net accumulative consolidated turnover for the first half of 2026 ca...

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: Sep 30, 2026