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APAC Resources
(1104)
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Rating:67Neutral
Price Target:
HK$2.00
â–²(4.71% Upside)
Action:Reiterated
Date:10/26/26
The score is driven by a strong valuation profile (very low P/E and high dividend yield) and a solid, low-leverage balance sheet, offset by weaker technical momentum and concerns around earnings quality due to historically volatile results and inconsistent cash-flow conversion.
Positive Factors
FY2026 Profit Rebound
The sharp FY2026 revenue and profitability rebound indicates that the business can recover meaningfully when operating conditions improve. A return to solid operating profit strengthens near-term earnings capacity and provides a better base for reinvestment, although consistency remains important.
Negative Factors
Inconsistent Cash Generation
Several consecutive years of negative operating and free cash flow show that reported profitability has not consistently translated into internally generated cash. This weakens funding reliability, may constrain reinvestment, and makes the durability of the latest improvement less certain over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
FY2026 Profit Rebound
The sharp FY2026 revenue and profitability rebound indicates that the business can recover meaningfully when operating conditions improve. A return to solid operating profit strengthens near-term earnings capacity and provides a better base for reinvestment, although consistency remains important.
Read all positive factors
APAC Resources (1104) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$2.45B
Dividend Yield6.11%
Average Volume (3M)2.03M
Price to Earnings (P/E)1.4
Beta (1Y)0.62
Revenue Growth196.58%
EPS Growth577.14%
CountryHK
Employees18
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)1.17
Shares Outstanding1,495,524,900
10 Day Avg. Volume1,436,085
30 Day Avg. Volume2,029,407
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.35
Price to Sales (P/S)0.90
P/FCF Ratio8.31
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
APAC Resources Business Overview & Revenue Model
Company Description
Operating as an investment holding company, APAC Resources Limited focuses its activities on commodity trading and making strategic investments in natural resources. Its business footprint spans Hong Kong, the People's Republic of China, Australia...
APAC Resources Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
83
Very Positive
Cash Flow
41
Neutral
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.21B | 353.13M | 1.19B | 540.04M | 555.30M |
| Gross Profit | 1.53B | 13.83M | 93.38M | 112.16M | 284.24M |
| EBITDA | 1.72B | -82.79M | 408.67M | -50.70M | -438.34M |
| Net Income | 1.71B | 243.86M | 390.03M | -318.55M | -465.99M |
Balance Sheet | |||||
| Total Assets | 6.59B | 4.57B | 4.22B | 3.90B | 4.47B |
| Cash, Cash Equivalents and Short-Term Investments | 1.35B | 2.62B | 2.37B | 1.17B | 560.52M |
| Total Debt | 520.92M | 472.38M | 281.72M | 187.48M | 292.77M |
| Total Liabilities | 849.81M | 546.23M | 360.64M | 316.90M | 421.69M |
| Stockholders Equity | 5.74B | 4.02B | 3.84B | 3.55B | 4.05B |
Cash Flow | |||||
| Free Cash Flow | 240.27M | -211.36M | -337.87M | -75.41M | -15.15M |
| Operating Cash Flow | 240.55M | -211.29M | -336.15M | -73.53M | -14.13M |
| Investing Cash Flow | -430.23M | -4.44M | 352.28M | -34.12M | -139.13M |
| Financing Cash Flow | -26.94M | 103.73M | 6.51M | -234.68M | 128.55M |
APAC Resources Technical Analysis
Negative
1.91
Price Trends
1.82
Negative
1.61
Positive
2.01
Negative
Market Momentum
-0.06
Positive
41.88
Neutral
30.20
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1104, the sentiment is Negative. The current price of 1.91 is above the 20-day moving average (MA) of 1.80, above the 50-day MA of 1.82, and below the 200-day MA of 2.01, indicating a bearish trend. The MACD of -0.06 indicates Positive momentum. The RSI at 41.88 is Neutral, neither overbought nor oversold. The STOCH value of 30.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1104.
APAC Resources Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | HK$2.45B | 1.40 | 29.58% | 6.11% | 196.58% | 577.14% | |
61 Neutral | HK$417.31B | 9.88 | 12.77% | 3.97% | 101.98% | 67.41% | |
60 Neutral | HK$16.47B | 27.57 | 4.24% | 2.86% | 35.39% | 111.33% | |
59 Neutral | HK$27.06B | 18.44 | 9.18% | 2.46% | 43.49% | 109.36% | |
54 Neutral | HK$2.93B | 8.07 | 3.68% | 1.53% | 11.45% | -6.65% | |
53 Neutral | HK$10.16B | 15.35 | 33.51% | 22.30% | -1.70% | 8.52% |
* Financial Sector Average
HK:1104
APAC Resources
1.64
>-0.01
-0.06%
HK:6030
CITIC Securities Co
19.88
-8.83
-30.76%
HK:1788
Guotai Junan International Holdings Limited
2.85
-0.93
-24.64%
HK:1428
Bright Smart Securities & Commodities Group Limited
5.99
-3.75
-38.49%
HK:1375
Central China Securities Co., Ltd. Class H
1.37
-1.15
-45.63%
HK:1476
Hengtai Securities Co., Ltd. Class H
1.13
-0.87
-43.58%
APAC Resources Corporate Events
APAC Resources Reports Unaudited Net Asset Value Per Share of HK$5.30
Oct 23, 2026
APAC Resources Limited has reported an unaudited consolidated net asset value per share of approximately HK$5.30 as at 30 September 2026, calculated on 1,495,524,901 shares in issue. The figure is derived from the company’s unaudited consoli...
APAC Resources Sets 2026 AGM to Approve Accounts and Share Issuance Mandate
Oct 22, 2026
APAC Resources Limited has called its annual general meeting for 20 November 2026 in Hong Kong, where shareholders will review and adopt the audited consolidated financial statements and the directors’ and auditor’s reports for the yea...
APAC Resources Posts Unaudited Net Asset Value of HK$5.46 Per Share
Oct 15, 2026
APAC Resources Limited has reported an unaudited consolidated net asset value per share of HK$5.46 as at 31 August 2026, calculated on 1,495,524,901 shares in issue and reflecting the market value of its listed investments and associates. The volu...
APAC Resources Reports Unaudited Net Asset Value Per Share of HK$4.49
Oct 15, 2026
APAC Resources Limited has disclosed that its unaudited consolidated net asset value per share stood at HK$4.49 as at 31 July 2026, based on its management accounts and the market value of its listed investments, including adjustments for the mark...
APAC Resources posts surge in profit on stronger trading and investment gains
Sep 23, 2026
APAC Resources reported a sharp improvement in its financial performance for the year ended 30 June 2026, as revenue more than doubled to HK$744.7 million, driven mainly by growth in trading of goods and interest income. Gross sales proceeds from ...
APAC Resources Declares HKD 0.12 Interim Dividend with Scrip Option for FY2026
Sep 23, 2026
APAC Resources Limited has declared an interim ordinary dividend of HKD 0.12 per share for the financial year ended 30 June 2026, designating it in lieu of a final dividend and offering shareholders a cash payout by default with an option to recei...
APAC Resources Declares Special Interim Dividend with Scrip Option
Sep 23, 2026
APAC Resources Limited declared a special interim dividend of HKD 0.08 per share for the financial year ended 30 June 2026, to be paid in lieu of a final dividend, with shareholders able to receive the payout in cash or elect a scrip share alterna...
APAC Resources Sets Board Meeting to Approve Annual Results and Consider Dividend
Sep 11, 2026
APAC Resources Limited has scheduled a board meeting for 23 September 2026 to approve the final results for the financial year ended 30 June 2026 and to authorize their publication. The board will also consider the payment of a dividend, signaling...
APAC Resources Reshapes Board with New Non-Executive and Independent Directors
Aug 10, 2026
APAC Resources Limited announced changes to its board, including the resignation of non-executive director Lam Lin Chu, effective 10 August 2026, citing personal business commitments, with the company noting there were no disagreements or issues r...
APAC Resources Sets Out Board Composition and Governance Roles
Aug 10, 2026
APAC Resources Limited has updated its disclosure on the composition of its board of directors and their respective roles and functions, underscoring a governance structure centred on a single executive director supported by non-executive and inde...
APAC Resources Flags Sharp Profit Jump on Commodity and Investment Gains
Jul 27, 2026
APAC Resources Limited has issued a positive profit alert, indicating that it expects profit attributable to shareholders for the year ending 30 June 2026 to rise sharply to between HK$1.3 billion and HK$1.9 billion, compared with HK$243.9 million...
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.