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AEON Stores (Hong Kong) Co., Limited
(0984)
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Rating:44Neutral
Price Target:
HK$0.25
â–¼(-38.54% Downside)
Action:Reiterated
Date:07/28/26
The score is weighed down primarily by weak financial performance—persistent losses, a worsening operating outcome in 2025, and negative equity with meaningful debt—despite consistently positive free cash flow. Technicals add pressure as the stock trades below all key moving averages, while valuation signals are limited due to the negative P/E and no dividend yield data.
Positive Factors
Consistent Cash Generation
Positive operating and free cash flow across all reported years shows that the retail model has generated cash despite accounting losses. This supports ongoing operations and provides some funding capacity, although the durability of that conversion depends on stabilizing the underlying business performance.
Negative Factors
Persistent Net Losses
Recurring net losses indicate that sales and operating cash generation have not translated into durable earnings. This weakens internal capital formation, limits the company’s ability to reinvest from profits, and leaves performance vulnerable if cash conversion deteriorates.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent Cash Generation
Positive operating and free cash flow across all reported years shows that the retail model has generated cash despite accounting losses. This supports ongoing operations and provides some funding capacity, although the durability of that conversion depends on stabilizing the underlying business performance.
Read all positive factors
AEON Stores (Hong Kong) Co., Limited (0984) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$64.48M
Dividend Yield5.26%
Average Volume (3M)36.27K
Price to Earnings (P/E)―
Beta (1Y)0.76
Revenue Growth-3.13%
EPS Growth9.97%
CountryHK
Employees4,998
SectorConsumer Cyclical
Sector Strength84
IndustryDepartment Stores
Share Statistics
EPS (TTM)-1.33
Shares Outstanding260,000,000
10 Day Avg. Volume40,100
30 Day Avg. Volume36,266
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)-0.12
Price to Sales (P/S)0.01
P/FCF Ratio0.19
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
AEON Stores (Hong Kong) Co., Limited Business Overview & Revenue Model
Company Description
AEON Stores (Hong Kong) Co., Limited is a prominent retail entity, primarily recognized for its expansive chain of general merchandise stores (GMS). The company provides a comprehensive assortment of products designed to meet diverse customer need...
How the Company Makes Money
The company primarily makes money through retail sales to consumers across its store network. Its core revenue stream is the sale of merchandise, including (i) food and grocery items sold through supermarkets and food halls and (ii) non-food gener...
AEON Stores (Hong Kong) Co., Limited Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
12
Very Negative
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.72B | 7.80B | 8.16B | 8.69B | 9.57B | 9.55B |
| Gross Profit | 420.32M | 574.20M | 2.05B | 675.83M | 805.96M | 684.39M |
| EBITDA | 142.34M | 261.07M | 59.81M | 918.77M | 929.62M | 761.03M |
| Net Income | -345.96M | -324.35M | -338.07M | -188.66M | -219.87M | -469.96M |
Balance Sheet | ||||||
| Total Assets | 4.75B | 4.91B | 5.46B | 5.58B | 6.04B | 7.45B |
| Cash, Cash Equivalents and Short-Term Investments | 629.32M | 621.49M | 830.58M | 1.15B | 1.43B | 1.84B |
| Total Debt | 3.77B | 3.56B | 3.69B | 3.21B | 3.48B | 4.37B |
| Total Liabilities | 6.00B | 5.70B | 5.89B | 5.67B | 5.94B | 7.13B |
| Stockholders Equity | -1.25B | -856.38M | -529.59M | -197.74M | -274.00K | 203.44M |
Cash Flow | ||||||
| Free Cash Flow | 193.60M | 538.26M | 367.28M | 833.49M | 772.17M | 853.90M |
| Operating Cash Flow | 301.71M | 719.59M | 523.72M | 948.36M | 866.80M | 1.02B |
| Investing Cash Flow | 10.21M | -51.90M | -48.52M | -260.42M | -127.29M | -7.24M |
| Financing Cash Flow | -409.13M | -782.95M | -749.84M | -1.04B | -1.08B | -1.04B |
AEON Stores (Hong Kong) Co., Limited Technical Analysis
Positive
0.41
Price Trends
0.23
Positive
0.25
Negative
0.32
Negative
Market Momentum
<0.01
Negative
58.37
Neutral
96.58
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0984, the sentiment is Positive. The current price of 0.41 is above the 20-day moving average (MA) of 0.24, above the 50-day MA of 0.23, and above the 200-day MA of 0.32, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 58.37 is Neutral, neither overbought nor oversold. The STOCH value of 96.58 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0984.
AEON Stores (Hong Kong) Co., Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | HK$472.12M | 12.61 | 1.06% | 7.70% | -13.36% | 155.17% | |
59 Neutral | HK$3.77B | -13.84 | -1.66% | 8.94% | -1.82% | 67.15% | |
47 Neutral | HK$517.86M | -1.00 | 191.09% | 4.15% | -5.81% | -28.31% | |
44 Neutral | HK$64.48M | -0.19 | 32.83% | 5.26% | -3.13% | 9.97% | |
33 Underperform | HK$10.11B | -34.38 | -1.42% | 16.67% | -9.68% | -180.35% |
* Consumer Cyclical Sector Average
HK:0984
AEON Stores (Hong Kong) Co., Limited
0.26
-0.18
-40.91%
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Wing On Co. International Ltd.
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New World Department Store China Limited
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-52.06%
AEON Stores (Hong Kong) Co., Limited Corporate Events
AEON Stores Signs Very Substantial New Lease in Whampoa Garden
Sep 7, 2026
AEON Stores (Hong Kong) Co., Limited, a Hong Kong-listed retailer, operates sizeable store premises in major commercial developments to support its consumer-facing retail business. Its property strategy involves long-term leases for large lettable...
AEON Stores signs HK$7.2 million tenancy for new Mono Mono department store in North Point
Sep 2, 2026
AEON Stores (Hong Kong) Co., Limited has agreed to lease Shop 101 on the first floor of 101 King’s Road, Hong Kong, to operate a new department store under the trade name “Mono Monoものもの.” The tenancy w...
AEON Stores Renews Connected IT Services Pact With AEON Group Unit ADMC
Aug 28, 2026
AEON Stores (Hong Kong) has conditionally renewed its IT master agreement with AEON Co subsidiary ADMC, allowing group members to continue procuring a wide range of IT services, including consultancy, system design, development, maintenance and re...
AEON Stores Widens Interim Loss as Costs Weigh on Flat Revenue
Aug 27, 2026
AEON Stores (Hong Kong) Co., Limited reported unaudited interim results for the six months ended 30 June 2026, showing revenue of HK$3.86 billion, slightly down from HK$3.93 billion a year earlier, while cost of goods sold and operating expenses r...
AEON Stores Calls September EGM to Approve Renewal Offer
Aug 24, 2026
AEON Stores (Hong Kong) Co., Limited has called an extraordinary general meeting for 29 September 2026 in Tsuen Wan, where shareholders will vote on approving, confirming and ratifying a proposed Renewal Offer and its related transactions. The res...
AEON Stores Reschedules Extraordinary General Meetings and Adjusts Book Closure Dates
Aug 24, 2026
AEON Stores (Hong Kong) Co., Limited, a listed Hong Kong retailer operating general merchandise and related stores, has announced changes affecting its shareholders’ meeting schedule. The company, traded under stock code 984, remains under t...
AEON Stores Delays Dispatch of Circular on Connected Transactions
Aug 19, 2026
AEON Stores (Hong Kong) Co., Limited has announced a further delay in sending a shareholder circular related to revised annual caps for its continuing connected transactions under the 2026 Master Agreement. The circular, originally expected by 19 ...
AEON Stores Sets Book Closure and EGM Date for Major Transactions
Aug 17, 2026
AEON Stores (Hong Kong) Co., Limited has scheduled extraordinary general meetings for 3 September 2026 in Tsuen Wan, Hong Kong, to consider matters including revised annual caps for continuing connected transactions and a very substantial acquisit...
AEON Stores Sets Board Meeting to Approve Interim Results and Consider Dividend
Aug 17, 2026
AEON Stores (Hong Kong) Co., Limited has scheduled a board meeting for 27 August 2026 to approve the unaudited interim results for the six months ended 30 June 2026. The board will also consider the payment of an interim dividend, a decision that ...
AEON Stores Secures Major Lease Renewal for Key Hong Kong Retail Premises
Aug 14, 2026
AEON Stores (Hong Kong) Co., Limited has secured a renewal offer to extend the lease of its retail premises and the licence for associated car parking spaces in Hong Kong for five years from 5 September 2026 to 4 September 2031. These facilities h...
AEON Stores to Sell Minor AEON Credit Stake in Connected Transaction
Aug 12, 2026
AEON Stores (Hong Kong) Co., Limited has agreed to dispose of 683,500 shares in AEON Credit, representing about 0.16% of AEON Credit’s issued share capital, for HK$6,035,305 at HK$8.83 per share, equal to the latest closing market price. The...
AEON Stores Delays Circular on Revised Connected Transaction Caps
Aug 10, 2026
AEON Stores (Hong Kong) Co., Limited, a Hong Kong-listed retail operator under the AEON group, runs department stores and supermarkets that provide a broad range of consumer goods to local customers. The company leverages its market presence in Ho...
AEON Stores Clarifies Landlord Ownership in PRC Lease Deal
Aug 4, 2026
AEON Stores (Hong Kong) Co., Limited has issued a supplemental announcement clarifying the ownership structure of the landlord involved in a previously disclosed supplemental lease agreement in the PRC. The landlord is fully owned by Guangdong Gua...
AEON Stores Revises Foshan Lease, Cutting Costs and Extending Term
Jul 28, 2026
AEON Stores (Hong Kong) Co., Limited has announced that its wholly owned subsidiary AEON GD has entered into a supplemental lease agreement with the landlord of its Foshan retail premises, extending the fixed lease term and reducing the monthly re...
AEON Stores Seeks Higher Transaction Caps on Connected Supply Deal
Jul 27, 2026
AEON Stores (Hong Kong) Co., Limited is a Hong Kong‑incorporated retailer that sells general merchandise and branded products through its store network, serving local consumers across the territory. As part of the AEON Group, it relies on in...
AEON Stores Gains Listing Rules Waiver for Major Tenancy Transaction Circular
Jul 22, 2026
AEON Stores (Hong Kong) Co., Limited, a Hong Kong-based listed retailer operating general merchandise and specialty stores, serves local consumers under the regulatory framework of the Stock Exchange of Hong Kong. Its governance structure of execu...
AEON Stores Delays Circular on Major Tenancy Termination Deal
Jul 13, 2026
AEON Stores (Hong Kong) Co., Limited has announced a further delay in sending a shareholder circular related to a major transaction involving the early termination of tenancy agreements. The company, which had originally scheduled dispatch by mid-...
AEON Stores Signs 10-Year Guangzhou Lease in Discloseable Transaction
Jul 3, 2026
AEON Stores (Hong Kong) Co., Limited has disclosed that its wholly owned subsidiary AEON GD has signed a 10-year lease for multiple retail units in a commercial centre on Guangming Road North in Guangzhou’s Panyu District, to operate its ret...
AEON Stores Wins Deadline Waiver for Tenancy Termination Circular
Jun 17, 2026
AEON Stores (Hong Kong) Co., Limited has obtained a waiver from the Stock Exchange of Hong Kong regarding the deadline for issuing a shareholder circular on a major transaction involving the early termination of a tenancy agreement. The circular, ...
AEON Stores Wins Time-Limited Waiver to Finalise Warehouse Lease Circular
Jun 17, 2026
AEON Stores (Hong Kong) Co., Limited has obtained a waiver from strict compliance with Rule 14.41(a) of the Hong Kong Listing Rules, allowing additional time to send a shareholder circular on a major warehouse lease transaction. The circular, orig...
AEON Stores Finalises Major Acquisition of Equity Interest in AEON GD
Jun 15, 2026
AEON Stores (Hong Kong) Co., Limited, a retail and department store operator serving mass-market consumers in Hong Kong and Greater China, continues to pursue strategic expansion through acquisitions that strengthen its regional presence. The comp...
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.