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APAC Resources
(1104)
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Rating:55Neutral
Price Target:
HK$1.50
▼(-21.47% Downside)
Action:Reiterated
Date:06/13/26
The score is pulled down most by weak cash flow and volatile/weak core operating performance, reinforced by bearish technical momentum. These are partially offset by a strong valuation profile (very low P/E and high dividend yield) and a relatively solid, low-leverage balance sheet.
Positive Factors
Low leverage / solid balance sheet
Modest debt-to-equity (≈0.05–0.12) and a relatively solid balance sheet give the company durable financial flexibility. This reduces refinancing and solvency risk through commodity cycles, supports margin calls or trading needs, and permits weathering prolonged weak operating periods without forced asset sales.
Negative Factors
Consistently negative operating and free cash flow
Multi-year negative operating and free cash flow undermines the company’s ability to self-fund operations, trading margins, dividends or reinvestment. Persistent cash deficits elevate dependence on asset disposals, associate dividends or external financing, weakening long-term financial flexibility and increasing refinancing and liquidity risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / solid balance sheet
Modest debt-to-equity (≈0.05–0.12) and a relatively solid balance sheet give the company durable financial flexibility. This reduces refinancing and solvency risk through commodity cycles, supports margin calls or trading needs, and permits weathering prolonged weak operating periods without forced asset sales.
Read all positive factors
APAC Resources (1104) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$4.57B
Dividend Yield5.09%
Average Volume (3M)3.03M
Price to Earnings (P/E)1.2
Beta (1Y)0.55
Revenue Growth593.36%
EPS GrowthN/A
CountryHK
Employees18
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)1.69
Shares Outstanding2,240,630,100
10 Day Avg. Volume3,485,800
30 Day Avg. Volume3,033,582
Financial Highlights & Ratios
PEG Ratio-0.18
Price to Book (P/B)0.42
Price to Sales (P/S)4.82
P/FCF Ratio-8.05
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...
How the Company Makes Money
APAC Resources primarily makes money through (1) its share of results from its major investment in a listed associate in the base metals sector, which can contribute earnings via the associate’s operating profits and dividends; (2) gains or losses...
APAC Resources Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
72
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2021 | Jun 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.17B | 353.13M | 1.19B | 540.04M | 555.30M | 476.80M |
| Gross Profit | 1.54B | 13.83M | 93.38M | 112.16M | 284.24M | 85.83M |
| EBITDA | 1.82B | -84.52M | 408.67M | -50.70M | -438.34M | -26.02M |
| Net Income | 2.41B | 243.86M | 390.03M | -318.55M | -465.99M | -429.40M |
Balance Sheet | ||||||
| Total Assets | 6.72B | 4.57B | 4.22B | 3.90B | 4.47B | 3.53B |
| Cash, Cash Equivalents and Short-Term Investments | 675.28M | 2.62B | 2.37B | 1.17B | 560.52M | 652.65M |
| Total Debt | 566.16M | 472.38M | 281.72M | 187.48M | 292.77M | 4.50M |
| Total Liabilities | 889.71M | 546.23M | 360.64M | 316.90M | 421.69M | 90.82M |
| Stockholders Equity | 5.83B | 4.02B | 3.84B | 3.55B | 4.05B | 3.44B |
Cash Flow | ||||||
| Free Cash Flow | 59.63M | -211.36M | -337.87M | -75.41M | -15.15M | 26.92M |
| Operating Cash Flow | 59.91M | -211.29M | -336.15M | -73.53M | -14.13M | 27.10M |
| Investing Cash Flow | -129.81M | -4.44M | 352.28M | -34.12M | -139.13M | -100.63M |
| Financing Cash Flow | -60.10M | 103.73M | 6.51M | -234.68M | 128.55M | -126.03M |
APAC Resources Technical Analysis
Positive
1.91
Price Trends
1.66
Positive
1.84
Positive
2.18
Negative
Market Momentum
0.10
Negative
72.41
Negative
80.75
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1104, the sentiment is Positive. The current price of 1.91 is above the 20-day moving average (MA) of 1.84, above the 50-day MA of 1.66, and below the 200-day MA of 2.18, indicating a neutral trend. The MACD of 0.10 indicates Negative momentum. The RSI at 72.41 is Negative, neither overbought nor oversold. The STOCH value of 80.75 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 | HK$492.27B | 10.48 | 13.81% | 2.94% | 101.98% | 67.41% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | HK$3.26B | 9.05 | 3.68% | 1.43% | 11.45% | -6.65% | |
60 Neutral | HK$18.82B | 31.27 | 4.24% | 1.95% | 35.39% | 111.33% | |
59 Neutral | HK$27.35B | 18.63 | 9.18% | 2.43% | 43.49% | 109.36% | |
58 Neutral | HK$12.42B | 18.77 | 33.51% | 22.30% | -1.70% | 8.52% | |
55 Neutral | HK$4.57B | 1.21 | 49.02% | 5.09% | 593.36% | ― |
* Financial Sector Average
HK:1104
APAC Resources
2.14
0.64
42.76%
HK:6030
CITIC Securities Co
26.78
-1.23
-4.40%
HK:1788
Guotai Junan International Holdings Limited
2.88
-2.44
-45.88%
HK:1428
Bright Smart Securities & Commodities Group Limited
7.33
-4.43
-37.67%
HK:1375
Central China Securities Co., Ltd. Class H
1.75
-0.96
-35.40%
HK:1476
Hengtai Securities Co., Ltd. Class H
1.20
-0.74
-38.27%
APAC Resources Corporate Events
APAC Resources Launches Up to HK$1.18 Billion Rights Issue to Fund Resource Investments and Cut Debt
May 28, 2026
APAC Resources plans to raise up to about HK$1.18 billion through a rights issue of up to 813.98 million new shares at HK$1.45 each, offered on the basis of one rights share for every two existing shares. The offer, which is not fully underwritten...
APAC Resources Reports Unaudited NAV Per Share of HK$5.06
May 26, 2026
APAC Resources Limited has disclosed that its unaudited consolidated net asset value per share stood at approximately HK$5.06 as of 30 April 2026, calculated on 1,493,536,972 shares in issue. The figure incorporates the market value of the company...
APAC Resources to Maintain 46.3% Stake in Tanami Gold with AUD32.6 Million Rights Issue Subscription
May 8, 2026
APAC Resources has agreed to fully subscribe to its entitlement in a rights issue by Australian-listed Tanami Gold, committing about AUD32.6 million for 544,021,444 new shares at AUD0.06 each. The move, funded through internal resources and borrow...
APAC Resources Switches Auditor to Deloitte to Align with Controlling Shareholder
Apr 27, 2026
APAC Resources Limited has replaced BDO Limited with Deloitte Touche Tohmatsu as its external auditor, effective 27 April 2026, after BDO completed the interim review for the six months ended 31 December 2025 and subsequently resigned. The board, ...
APAC Resources Reports Unaudited Net Asset Value of HK$4.85 Per Share
Apr 26, 2026
APAC Resources Limited has disclosed that its unaudited consolidated net asset value per share stood at approximately HK$4.85 as of 31 March 2026. The figure is derived from its unaudited consolidated management accounts and the market value of it...
APAC Resources Reports Unaudited Net Asset Value of HK$5.84 Per Share
Apr 12, 2026
APAC Resources Limited has disclosed an unaudited consolidated net asset value of HK$5.84 per share as at 28 February 2026, calculated based on its management accounts and the market value of its listed investments and associates. The update provi...
APAC Resources Completes Move of Corporate Domicile From Bermuda to Hong Kong
Mar 26, 2026
APAC Resources Limited has completed its corporate re-domiciliation from Bermuda to Hong Kong, with the Hong Kong re-domicile effective on 19 March 2026 and formal discontinuance as a Bermuda exempted company certified on 25 March 2026. Following ...
APAC Resources Announces Unaudited Net Asset Value Per Share of HK$5.33
Mar 22, 2026
APAC Resources Limited has reported an unaudited consolidated net asset value per share of HK$5.33 as at 31 January 2026, based on its management accounts and the market value of its listed investments and associates. The figure, calculated over 1...
APAC Resources Finalises Re-Domiciliation to Hong Kong and Shifts Registered Office
Mar 19, 2026
APAC Resources Limited has completed its re-domiciliation from Bermuda to Hong Kong, with the change of domicile, adoption of new articles of association and a Chinese name, and the elimination and application of contributed surplus all becoming e...
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.