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China-Hongkong Photo Products Holdings Limited
(1123)
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Rating:63Neutral
Price Target:
HK$0.15
▲(28.33% Upside)
Action:Reiterated
Date:09/06/26
The score is primarily supported by a conservative, low-debt balance sheet and consistently positive free cash flow, which reduce downside risk. Offsetting this are inconsistent profitability and flat revenue trends, plus technically overbought signals that raise near-term pullback risk. Valuation is also only moderate, with a ~22.7 P/E and a modest ~2.21% dividend yield.
Positive Factors
Conservative Balance Sheet
Very low leverage reduces balance-sheet stress and limits the burden of interest and refinancing obligations. A capital structure dominated by equity gives the company greater flexibility to withstand uneven trading conditions and preserve funding capacity for ongoing operations.
Negative Factors
Weak Revenue Growth
A flat multi-year revenue trend suggests limited expansion in customer demand, retail activity, or distribution volumes. The 2025 decline and modest recovery in 2026 also indicate that the company lacks a clear growth engine capable of consistently increasing its operating scale.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Very low leverage reduces balance-sheet stress and limits the burden of interest and refinancing obligations. A capital structure dominated by equity gives the company greater flexibility to withstand uneven trading conditions and preserve funding capacity for ongoing operations.
Read all positive factors
China-Hongkong Photo Products Holdings Limited (1123) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$161.20M
Dividend Yield2.35%
Average Volume (3M)760.67K
Price to Earnings (P/E)21.3
Beta (1Y)0.48
Revenue Growth-0.27%
EPS GrowthN/A
CountryHK
Employees583
SectorConsumer Cyclical
Sector Strength84
IndustryLeisure
Share Statistics
EPS (TTM)<0.01
Shares Outstanding1,185,318,400
10 Day Avg. Volume538,200
30 Day Avg. Volume760,666
Financial Highlights & Ratios
PEG Ratio-0.04
Price to Book (P/B)0.19
Price to Sales (P/S)0.13
P/FCF Ratio5.17
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
China-Hongkong Photo Products Holdings Limited Business Overview & Revenue Model
Company Description
Established in 1968 and headquartered in Tsuen Wan, Hong Kong, China-Hongkong Photo Products Holdings Limited, a subsidiary of Searich Group Limited, primarily focuses on the marketing and distribution of photographic developing, processing, and p...
How the Company Makes Money
The company primarily makes money by selling products and services to consumers through its retail and service network. Key revenue streams include: (1) retail sales of imaging-related products (e.g., cameras and related accessories) where revenue...
China-Hongkong Photo Products Holdings Limited Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
78
Positive
Cash Flow
63
Positive
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 998.09M | 1.00B | 1.10B | 1.08B | 1.02B |
| Gross Profit | 259.22M | 255.65M | 279.14M | 265.80M | 221.84M |
| EBITDA | 77.68M | 66.99M | 90.78M | 104.94M | 83.28M |
| Net Income | 7.58M | -2.32M | 29.76M | 40.81M | 18.11M |
Balance Sheet | |||||
| Total Assets | 889.07M | 892.33M | 941.61M | 913.41M | 887.69M |
| Cash, Cash Equivalents and Short-Term Investments | 215.52M | 238.81M | 244.28M | 235.92M | 229.23M |
| Total Debt | 59.61M | 66.79M | 68.69M | 55.01M | 66.75M |
| Total Liabilities | 205.28M | 217.62M | 252.79M | 234.70M | 236.65M |
| Stockholders Equity | 684.22M | 674.89M | 688.95M | 677.62M | 651.82M |
Cash Flow | |||||
| Free Cash Flow | 25.23M | 51.44M | 68.86M | 62.83M | 6.73M |
| Operating Cash Flow | 38.10M | 70.61M | 93.33M | 77.89M | 16.02M |
| Investing Cash Flow | -11.22M | -17.81M | -44.55M | -12.10M | 19.33M |
| Financing Cash Flow | -49.18M | -62.24M | -63.32M | -57.11M | -62.42M |
China-Hongkong Photo Products Holdings Limited Technical Analysis
Positive
0.12
Price Trends
0.12
Positive
0.11
Positive
0.11
Positive
Market Momentum
<0.01
Positive
88.94
Negative
54.76
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1123, the sentiment is Positive. The current price of 0.12 is below the 20-day moving average (MA) of 0.13, above the 50-day MA of 0.12, and above the 200-day MA of 0.11, indicating a bullish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 88.94 is Negative, neither overbought nor oversold. The STOCH value of 54.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1123.
China-Hongkong Photo Products Holdings Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | HK$201.50B | 13.38 | 57.49% | 1.78% | 86.78% | 101.48% | |
63 Neutral | HK$161.20M | 21.25 | 1.11% | 2.35% | -0.27% | ― | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
53 Neutral | HK$544.80M | -75.00 | -0.68% | 14.58% | -23.66% | -152.03% | |
50 Neutral | HK$202.00M | -32.58 | -36.67% | 92.02% | 1.90% | 11.43% | |
49 Neutral | HK$185.36M | -0.78 | -14.23% | 1.22% | 4.04% | -16.43% | |
42 Neutral | HK$104.05M | -0.59 | -69.53% | 1.18% | 16.96% | -94.77% |
* Consumer Cyclical Sector Average
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China-Hongkong Photo Products Holdings Limited Corporate Events
China-Hongkong Photo Products Sets Out Board and Committee Structure
Aug 7, 2026
China-Hongkong Photo Products Holdings Limited has detailed the composition of its board of directors, which includes executive, non-executive and independent non-executive members, underscoring a governance model aligned with Hong Kong listing no...
China-Hongkong Photo Products Wins Full AGM Support and Announces Board Change
Aug 7, 2026
Shareholders of China-Hongkong Photo Products Holdings Limited unanimously approved all resolutions at the 7 August 2026 annual general meeting, including the receipt of audited accounts for the year to 31 March 2026 and a final dividend of 0.32 H...
China-Hongkong Photo Sets AGM to Approve Dividend, Board Changes and Share Buyback Mandate
Jul 9, 2026
China-Hongkong Photo Products Holdings Limited has convened its annual general meeting for 7 August 2026 in Tsuen Wan, Hong Kong, where shareholders will review the audited consolidated financial statements for the year ended 31 March 2026 and con...
China-Hongkong Photo Products Proposes Veteran Accountant as New Independent Director
Jul 9, 2026
China-Hongkong Photo Products Holdings Limited plans to nominate accounting veteran Mr. Chow Shiu Hay Antonio as an independent non-executive director at its upcoming annual general meeting and, subject to shareholder approval, appoint him to the ...
China-Hongkong Photo Products Declares Final Cash Dividend for FY2025–26
Jun 23, 2026
China-Hongkong Photo Products Holdings Limited has proposed a final ordinary cash dividend of HKD 0.0032 per share for the financial year ended 31 March 2026, subject to shareholder approval at a meeting scheduled for 7 August 2026. The dividend, ...
China-Hongkong Photo Returns to Profit and Resumes Dividend on Stable Revenue
Jun 23, 2026
China-Hongkong Photo Products Holdings Limited reported that group revenue was broadly stable at HK$998 million for the year ended 31 March 2026, edging down 0.3% while gross profit improved, reflecting tighter cost control across its imaging and ...
China-Hongkong Photo Schedules Board Meeting to Approve 2026 Final Results
Jun 8, 2026
China-Hongkong Photo Products Holdings Limited has scheduled a board meeting for 23 June 2026 to review and approve the Group’s audited financial results for the year ended 31 March 2026. The board will also consider whether to recommend a f...
China-Hongkong Photo Projects Return to Profit on Cost Cuts and Margin Gains
Jun 8, 2026
China-Hongkong Photo Products Holdings Limited expects to return to profitability for the year ended 31 March 2026, projecting net profit of HK$5 million to HK$9 million versus a loss of about HK$2.3 million a year earlier. The turnaround is drive...
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.