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Mainland Headwear Holdings
(1100)
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Rating:70Outperform
Price Target:
HK$1.50
â–²(18.11% Upside)
Action:Reiterated
Date:08/04/26
The score is driven primarily by strong valuation (low P/E and high dividend yield) and solid financial positioning (conservative leverage and a 2025 recovery in profitability). Offsetting these positives are weaker technical signals (slightly negative MACD and price below key short-to-mid moving averages) and a history of inconsistent free-cash-flow conversion.
Positive Factors
Conservative leverage
The sustained decline in debt-to-equity indicates a healthier capital structure and gives the company greater flexibility. Lower leverage can reduce financial strain, support investment through business cycles, and improve resilience if apparel demand weakens.
Negative Factors
Choppy revenue history
The latest revenue recovery is encouraging, but the sharp earlier decline shows that demand has not followed a consistently upward path. Uneven sales growth can make capacity planning, cost absorption, and sustained earnings expansion less predictable.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative leverage
The sustained decline in debt-to-equity indicates a healthier capital structure and gives the company greater flexibility. Lower leverage can reduce financial strain, support investment through business cycles, and improve resilience if apparel demand weakens.
Read all positive factors
Mainland Headwear Holdings (1100) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$560.06M
Dividend Yield6.9%
Average Volume (3M)57.23K
Price to Earnings (P/E)4.5
Beta (1Y)-0.12
Revenue Growth9.08%
EPS Growth52.36%
CountryHK
Employees8,606
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Footwear & Accessories
Share Statistics
EPS (TTM)0.28
Shares Outstanding429,164,460
10 Day Avg. Volume74,710
30 Day Avg. Volume57,228
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)0.45
Price to Sales (P/S)0.32
P/FCF Ratio4.71
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
Mainland Headwear Holdings Business Overview & Revenue Model
Company Description
Mainland Headwear Holdings Limited, an investment holding company, designs, manufactures, trades in, and distributes headwear products in the United States, Europe, the People’s Republic of China, Hong Kong, and internationally. The company operat...
How the Company Makes Money
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Mainland Headwear Holdings Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
80
Positive
Cash Flow
58
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.70B | 1.47B | 1.42B | 1.87B | 1.60B |
| Gross Profit | 526.24M | 455.48M | 476.36M | 637.30M | 479.22M |
| EBITDA | 289.12M | 210.98M | 278.82M | 354.76M | 262.86M |
| Net Income | 118.47M | 57.07M | 117.95M | 195.39M | 128.08M |
Balance Sheet | |||||
| Total Assets | 2.00B | 1.94B | 1.79B | 1.96B | 1.67B |
| Cash, Cash Equivalents and Short-Term Investments | 178.95M | 214.72M | 331.02M | 275.28M | 222.80M |
| Total Debt | 188.99M | 259.77M | 215.47M | 310.77M | 317.75M |
| Total Liabilities | 713.72M | 765.58M | 625.42M | 889.33M | 767.40M |
| Stockholders Equity | 1.21B | 1.12B | 1.11B | 1.03B | 876.91M |
Cash Flow | |||||
| Free Cash Flow | 115.70M | -58.13M | 113.80M | 167.91M | 66.22M |
| Operating Cash Flow | 190.25M | 152.66M | 349.29M | 245.98M | 88.16M |
| Investing Cash Flow | -78.64M | -254.90M | -143.23M | -104.30M | -47.11M |
| Financing Cash Flow | -126.42M | -34.80M | -132.93M | -86.34M | -63.14M |
Mainland Headwear Holdings Technical Analysis
Negative
1.27
Price Trends
1.42
Negative
1.46
Negative
1.37
Negative
Market Momentum
-0.03
Positive
31.67
Neutral
<0.01
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1100, the sentiment is Negative. The current price of 1.27 is below the 20-day moving average (MA) of 1.36, below the 50-day MA of 1.42, and below the 200-day MA of 1.37, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 31.67 is Neutral, neither overbought nor oversold. The STOCH value of <0.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1100.
Mainland Headwear Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | HK$21.95B | 6.95 | 6.60% | 9.93% | -3.17% | -24.14% | |
75 Outperform | HK$9.91B | 10.03 | 11.35% | 11.54% | 2.33% | -22.20% | |
74 Outperform | HK$593.55M | 5.68 | 11.96% | 6.06% | 1.49% | -9.08% | |
70 Outperform | HK$560.06M | 4.50 | 10.08% | 6.90% | 9.08% | 52.36% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
52 Neutral | HK$263.10M | -3.75 | -6.97% | 12.61% | -2.99% | -111.29% | |
46 Neutral | HK$246.64M | -3.77 | -13.55% | 25.32% | -38.65% | 41.22% |
* Consumer Cyclical Sector Average
HK:1100
Mainland Headwear Holdings
1.31
-0.11
-7.64%
HK:0210
Daphne International Holdings
0.33
-0.13
-28.10%
HK:1170
Kingmaker Footwear Holdings
0.40
-0.07
-15.79%
HK:0738
Le Saunda Holdings
0.36
0.11
45.16%
HK:1836
Stella International Holdings Limited
11.70
-1.94
-14.20%
HK:0551
Yue Yuen Industrial (Holdings)
13.09
1.04
8.59%
Mainland Headwear Holdings Corporate Events
Mainland Headwear Declares HKD 0.03 Interim Dividend for First Half of 2026
Aug 27, 2026
Mainland Headwear Holdings Limited has declared an interim ordinary dividend of HKD 0.03 per share for the six months ended 30 June 2026, for the financial year ending 31 December 2026. The interim payout underscores the company’s continued ...
Mainland Headwear Delivers Higher Interim Profit on Revenue Growth
Aug 27, 2026
Mainland Headwear Holdings reported higher unaudited interim revenue of HK$925.9 million for the six months ended 30 June 2026, up from HK$845.6 million a year earlier, with gross profit rising to HK$277.9 million. Net profit attributable to share...
Mainland Headwear Sets August Board Meeting to Approve Interim Results and Consider Dividend
Aug 14, 2026
Mainland Headwear Holdings Limited has scheduled a board meeting for 27 August 2026 to approve the interim results for the six months ended 30 June 2026 and to consider the payment of an interim dividend. The upcoming review of financial performan...
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.