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Kelfred Holdings Limited
(1134)
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Rating:53Neutral
Price Target:
HK$0.21
â–²(18.33% Upside)
Action:Reiterated
Date:08/17/26
The score is held back mainly by ongoing losses and very weak technical momentum (price below all key moving averages with negative MACD and oversold RSI). Offsetting this, revenue growth has re-accelerated and cash flow has improved materially, while low leverage reduces balance-sheet risk. Valuation support is limited because earnings are negative and no dividend yield is available.
Positive Factors
Revenue Rebound
The sharp 2025 revenue rebound indicates renewed demand or business activity and gives the company a larger base from which to improve earnings. If growth persists over the next several quarters, it can support operating leverage, strengthen market position, and provide scope for more efficient investment.
Negative Factors
Persistent Losses
Continued losses show that the recent revenue recovery has not yet translated into sustainable earnings. Negative operating and net margins can constrain reinvestment, weaken returns on the business base, and make future profitability dependent on further improvement in operations.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Rebound
The sharp 2025 revenue rebound indicates renewed demand or business activity and gives the company a larger base from which to improve earnings. If growth persists over the next several quarters, it can support operating leverage, strengthen market position, and provide scope for more efficient investment.
Read all positive factors
Kelfred Holdings Limited (1134) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$105.00M
Dividend Yield3.08%
Average Volume (3M)897.73K
Price to Earnings (P/E)―
Beta (1Y)-0.20
Revenue Growth-4.28%
EPS Growth-58.51%
CountryHK
Employees752
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)-0.04
Shares Outstanding500,000,000
10 Day Avg. Volume2,095,200
30 Day Avg. Volume897,733
Financial Highlights & Ratios
PEG Ratio0.27
Price to Book (P/B)0.83
Price to Sales (P/S)0.25
P/FCF Ratio5.27
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
Kelfred Holdings Limited Business Overview & Revenue Model
Company Description
Kelfred Holdings Limited functions as an investment holding entity primarily engaged in the creation and sale of eyewear. The firm produces a diverse array of spectacle frames and sunglasses, largely leveraging original design manufacturing (ODM) ...
Kelfred Holdings Limited Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
74
Positive
Cash Flow
68
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 477.33M | 500.25M | 453.58M | 393.28M | 465.43M | 434.73M |
| Gross Profit | 51.08M | 59.31M | 44.66M | 56.98M | 76.02M | 68.44M |
| EBITDA | -13.51M | 1.23M | -17.07M | 14.24M | 21.11M | 13.11M |
| Net Income | -22.35M | -15.12M | -21.63M | 1.39M | 9.18M | -2.14M |
Balance Sheet | ||||||
| Total Assets | 257.30M | 282.83M | 282.93M | 264.00M | 251.90M | 268.13M |
| Cash, Cash Equivalents and Short-Term Investments | 29.88M | 48.00M | 27.81M | 20.33M | 46.40M | 36.93M |
| Total Debt | 7.56M | 8.46M | 12.56M | 15.22M | 2.01M | 4.00M |
| Total Liabilities | 115.61M | 134.35M | 126.49M | 80.81M | 65.32M | 81.80M |
| Stockholders Equity | 141.86M | 148.52M | 156.43M | 183.19M | 186.57M | 186.33M |
Cash Flow | ||||||
| Free Cash Flow | 4.02M | 23.32M | 12.54M | -20.32M | 14.59M | -27.01M |
| Operating Cash Flow | 7.03M | 25.75M | 17.49M | -4.63M | 19.28M | -21.87M |
| Investing Cash Flow | -3.54M | -2.55M | -4.80M | -16.61M | -5.21M | -5.73M |
| Financing Cash Flow | -3.72M | -3.51M | -5.03M | -4.25M | -3.65M | -11.74M |
Kelfred Holdings Limited Technical Analysis
Negative
0.18
Price Trends
0.26
Negative
0.30
Negative
0.29
Negative
Market Momentum
>-0.01
Negative
40.12
Neutral
6.35
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1134, the sentiment is Negative. The current price of 0.18 is below the 20-day moving average (MA) of 0.23, below the 50-day MA of 0.26, and below the 200-day MA of 0.29, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 40.12 is Neutral, neither overbought nor oversold. The STOCH value of 6.35 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1134.
Kelfred Holdings Limited Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | HK$23.87B | 30.52 | 17.68% | 1.06% | 8.36% | 14.91% | |
53 Neutral | HK$105.00M | -4.81 | -15.40% | 3.08% | -4.28% | -58.51% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
44 Neutral | HK$53.24M | -87.14 | -36.35% | 5.71% | 1140.27% | 96.98% |
* Healthcare Sector Average
HK:1134
Kelfred Holdings Limited
0.22
0.04
23.56%
HK:0907
Elegance Optical International Holdings Limited
0.06
0.02
45.24%
HK:2276
Shanghai Conant Optical Co. Ltd. Class H
40.12
-0.85
-2.08%
Kelfred Holdings Limited Corporate Events
Kelfred Holdings Appoints New Company Secretary and Authorised Representative
Aug 31, 2026
Kelfred Holdings Limited has announced a change in key governance roles, with company secretary and authorised representative Mr. Choi Chun Wai resigning effective 1 September 2026. The board noted that Mr. Choi has no disagreement with directors ...
Kelfred Holdings Posts Unaudited Interim Results for First Half of 2026
Aug 31, 2026
Kelfred Holdings Limited has released its unaudited condensed consolidated interim results for the six months ended 30 June 2026, with the full interim report prepared in compliance with Hong Kong listing requirements. The printed report will be s...
Kelfred flags wider interim loss as eyewear margins come under pressure
Aug 11, 2026
Kelfred Holdings Limited has warned that it expects to post a net loss of about HK$12.1 million for the six months ended 30 June 2026, widening from a loss of roughly HK$4.7 million a year earlier. The deterioration is mainly attributed to reduced...
Kelfred Holdings Sees Major Shareholder Exit as Eyewear Core Business Maintained
Jul 28, 2026
Kelfred Holdings Limited announced that Conquer Holding Limited, a substantial shareholder jointly owned by key members of the board, has sold its entire holding of 147,592,000 shares to an independent third party, representing about 29.59% of the...
Kelfred Holdings Clarifies Board Structure and Committee Roles to Strengthen Governance
Jul 1, 2026
Kelfred Holdings Limited has outlined the composition of its board, naming three executive directors, two non-executive directors and three independent non-executive directors, underscoring a governance framework aligned with market expectations f...
Kelfred Holdings Revamps Board as INED Resigns and Veteran CFO Joins
Jun 30, 2026
Kelfred Holdings Limited announced that independent non-executive director Mr. Hong Sze Lung will resign effective 1 July 2026, stepping down as chairman of the risk management committee and as a member of the audit, nomination and remuneration co...
Kelfred Shareholders Unanimously Approve AGM Resolutions and Capital Mandates
Jun 29, 2026
Kelfred Holdings reported that all resolutions at its 29 June 2026 annual general meeting were approved by shareholders via poll, including adoption of the 2025 audited financial statements and reappointment of ZHONGHUI ANDA CPA Limited as auditor...
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.