Asia Cassava Resources Holdings Limited (0841) AI Stock Analysis

Asia Cassava Resources Holdings Limited

(HKEX:0841)

Select Model

Rating:48Neutral

Price Target:HKD 0.15▲(0.66% Upside)

Action:reiterated

Date:10/23/26

The score is primarily held back by weak technicals (price below key moving averages) and limited valuation support due to negative earnings. Financial performance is improving—especially the sharp rebound in operating and free cash flow and better leverage—but ongoing revenue decline, thin margins, and an inconsistent multi-year profit/cash-flow profile keep the overall outlook modest.

Positive Factors

Cash Flow RecoveryThe sharp return to positive operating and free cash flow improves near-term liquidity and provides internal funding capacity. If sustained, stronger cash conversion can support working capital, reduce reliance on external financing, and give management more flexibility despite weak reported earnings.

Negative Factors

Revenue ContractionOngoing revenue contraction signals pressure on product demand, sales volume, or realized trading spreads. For a cassava products business whose revenue depends on volumes and commodity pricing, continued top-line weakness could limit operating leverage and make the recent earnings recovery difficult to sustain.

Asia Cassava Resources Holdings Limited (0841) vs. iShares MSCI Hong Kong ETF (EWH)

Market Cap: HKD 87.71M
Dividend Yield: ―
Average Volume (3M): 161.28K
Price to Earnings (P/E): -34.5
Beta (1Y): 0.57
Revenue Growth: 30.41%
EPS Growth: 98.08%
Country: Hong Kong
Employees: 200
Sector: Consumer Defensive
Sector Strength: 62
Industry: Packaged Foods

Asia Cassava Resources Holdings Limited Business Overview & Revenue Model

Company Description

Asia Cassava Resources Holdings Limited operates as an investment holding company with a primary focus on the acquisition, processing, storage, and distribution of dried cassava chips. These core activities serve markets in Mainland China, Hong Kong,...

How the Company Makes Money

Asia Cassava Resources Holdings Limited primarily makes money through the sale and trading of cassava-related products. Its revenue model is typically driven by (1) product sales volume (i.e., the quantity of cassava products sold to customers) and (...

Asia Cassava Resources Holdings Limited Financial Statement Overview

Summary

Financials are improving but still mixed. Cash flow rebounded strongly in 2026 with positive operating and free cash flow, and leverage improved (debt-to-equity ~1.0 vs. much higher in prior years). However, revenue is still contracting year over year, margins remain thin (gross margin ~7.7%), and profitability is only near break-even with an uneven multi-year earnings/cash-flow history.

Income Statement

42Neutral

Balance Sheet

55Neutral

Cash Flow

66Positive

Financial statement breakdown
Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2022
Income Statement
Total Revenue	1.28B	1.28B	977.90M	1.19B	3.59B	3.97B
Gross Profit	97.87M	97.87M	81.15M	152.04M	437.90M	450.69M
EBITDA	16.88M	16.88M	-97.21M	-83.33M	90.39M	-61.22M
Net Income	-2.53M	-2.53M	-130.72M	-111.36M	44.97M	-94.71M
Balance Sheet
Total Assets	1.43B	1.43B	1.70B	1.47B	2.92B	2.04B
Cash, Cash Equivalents and Short-Term Investments	39.99M	39.99M	63.65M	59.56M	109.50M	271.52M
Total Debt	524.39M	524.39M	879.44M	571.90M	1.69B	961.29M
Total Liabilities	1.03B	1.03B	1.35B	983.59M	2.09B	1.38B
Stockholders Equity	528.65M	528.65M	504.57M	610.74M	872.16M	751.68M
Cash Flow
Free Cash Flow	252.77M	230.69M	-240.09M	248.94M	-157.45M	669.97M
Operating Cash Flow	289.98M	267.89M	-204.29M	251.04M	-153.37M	675.55M
Investing Cash Flow	4.24M	62.77M	-79.31M	-55.52M	-2.90M	-4.32M
Financing Cash Flow	-329.31M	-356.63M	289.85M	-408.22M	191.36M	-506.49M

Asia Cassava Resources Holdings Limited Technical Analysis

Technical Analysis SentimentNegative

Last Price0.15

Price Trends

50DMA0.17Negative

100DMA0.16Negative

200DMA0.18Negative

Market Momentum

MACD-0.00Positive

RSI33.53Neutral

STOCH30.71Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0841, the sentiment is Negative. The current price of 0.15 is below the 20-day moving average (MA) of 0.16, below the 50-day MA of 0.17, and below the 200-day MA of 0.18, indicating a bearish trend. The MACD of -0.00 indicates Positive momentum. The RSI at 33.53 is Neutral, neither overbought nor oversold. The STOCH value of 30.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0841.

Asia Cassava Resources Holdings Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (62)

Financial Indicators

HK:0841 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HK:2317	81Outperform	HKD 1.01B	7.06	6.00%	15.80%	4.72%	20.03%
Sector *	62Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
HK:3999	59Neutral	HKD 563.98M	14.36	1.54%	―	4.12%	―
HK:3889	48Neutral	HKD 96.57M	-0.64	38.51%	―	-7.04%	8.69%
HK:0841	48Neutral	HKD 88.88M	-34.55	-0.49%	―	30.41%	98.08%
HK:3838	47Neutral	HKD 1.03B	48.72	0.45%	5.51%	-5.24%	-95.65%
HK:0809	40Underperform	HKD 565.36M	1.73	-15.63%	―	-8.40%	-77.49%

* Consumer Defensive Sector Average

Performance Comparison

HK:0841 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
HK:0841	Asia Cassava Resources Holdings Limited	0.15	0.02	16.92%
HK:3889	Global Sweeteners Holdings Limited	0.05	-0.04	-43.82%
HK:3999	Dachan Food (Asia) Limited	0.56	-0.06	-10.48%
HK:2317	Vedan International (Holdings) Ltd.	0.67	0.10	17.49%
HK:3838	China Starch Holdings Limited	0.18	0.00	0.00%
HK:0809	Global Bio-chem Technology Group Co. Ltd.	0.34	-0.45	-56.33%

Asia Cassava Resources Holdings Limited Corporate Events

Asia Cassava Wins Unanimous Shareholder Backing at 2026 AGM

Sep 30, 2026

Asia Cassava Resources Holdings Limited announced that shareholders at its 30 September 2026 annual general meeting unanimously approved all ordinary resolutions, including the receipt of audited financial statements for the year ended 31 March 2026...

Asia Cassava Resources Sets 2026 AGM to Approve Results and Share Issue Mandate

Sep 4, 2026

Asia Cassava Resources Holdings Limited has called its annual general meeting for 30 September 2026 in Hong Kong, where shareholders will be asked to receive and approve the audited consolidated financial statements and directors’ and auditors&...

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 23, 2026

Asia Cassava Resources Holdings Limited AI Stock Analysis