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Wang On Group Limited
(1222)
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Rating:48Neutral
Price Target:
HK$0.02
▲(10.00% Upside)
Action:Reiterated
Date:07/28/26
The score is primarily held back by weak financial performance, driven by recent net losses and high leverage, which increase recovery and refinancing risk. Improved operating and free cash flow in 2025–2026 provides some near-term support, while technicals show mild strength versus key moving averages. Valuation remains constrained by a negative P/E and no dividend yield data.
Positive Factors
Improved Cash Generation
The return to strong positive operating and free cash flow in the two most recent annual periods supports liquidity and internal funding capacity. If maintained, this improvement can help Wang On meet obligations, reduce reliance on external financing, and fund property activities through the cycle.
Negative Factors
Deep Recent Losses
Sizable losses and negative operating profit in the latest two annual periods indicate that the property platform is not currently converting gross profit into sustainable earnings. Persistent losses can erode equity returns, constrain reinvestment, and weaken financial flexibility if the trend continues.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Cash Generation
The return to strong positive operating and free cash flow in the two most recent annual periods supports liquidity and internal funding capacity. If maintained, this improvement can help Wang On meet obligations, reduce reliance on external financing, and fund property activities through the cycle.
Read all positive factors
Wang On Group Limited (1222) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$273.90M
Dividend Yield0.73%
Average Volume (3M)4.08M
Price to Earnings (P/E)―
Beta (1Y)0.80
Revenue Growth-3.98%
EPS Growth12.75%
CountryHK
Employees1,631
SectorIndustrials
Sector Strength72
IndustryReal Estate - Development
Share Statistics
EPS (TTM)-0.06
Shares Outstanding14,166,697,000
10 Day Avg. Volume1,600,036
30 Day Avg. Volume4,083,817
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)0.08
Price to Sales (P/S)0.11
P/FCF Ratio0.31
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
Wang On Group Limited Business Overview & Revenue Model
Company Description
Wang On Group Limited, an investment holding company, primarily engages in the property development and investment activities in Hong Kong, Mainland China, Macau, and internationally. It operates through Property Development, Property Investment, ...
How the Company Makes Money
Wang On Group Limited generates revenue mainly from its property businesses. Key revenue streams typically include (1) proceeds from property development, recognized when developed properties are sold; and (2) rental income from investment propert...
Wang On Group Limited Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
40
Negative
Cash Flow
56
Neutral
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.63B | 2.74B | 1.98B | 3.60B | 1.86B |
| Gross Profit | 595.90M | 808.76M | 823.64M | 1.22B | 907.10M |
| EBITDA | -312.83M | -705.81M | -376.63M | 533.79M | 174.49M |
| Net Income | -804.37M | -922.43M | -753.85M | 12.78M | -305.23M |
Balance Sheet | |||||
| Total Assets | 12.00B | 13.73B | 17.58B | 18.39B | 20.06B |
| Cash, Cash Equivalents and Short-Term Investments | 1.22B | 796.09M | 1.33B | 1.75B | 1.96B |
| Total Debt | 4.36B | 5.29B | 7.11B | 7.05B | 7.63B |
| Total Liabilities | 6.42B | 6.95B | 9.46B | 9.01B | 10.46B |
| Stockholders Equity | 3.62B | 4.33B | 5.27B | 5.92B | 5.99B |
Cash Flow | |||||
| Free Cash Flow | 954.66M | 1.13B | -206.60M | 491.96M | -2.21B |
| Operating Cash Flow | 982.77M | 1.18B | -174.67M | 549.19M | -2.13B |
| Investing Cash Flow | -8.28M | 656.19M | 433.31M | 423.84M | 2.42B |
| Financing Cash Flow | -550.36M | -2.32B | -358.94M | -1.01B | -444.62M |
Wang On Group Limited Technical Analysis
Positive
0.02
Price Trends
0.02
Negative
0.02
Positive
0.02
Negative
Market Momentum
>-0.01
Negative
51.79
Neutral
50.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1222, the sentiment is Positive. The current price of 0.02 is below the 20-day moving average (MA) of 0.02, below the 50-day MA of 0.02, and below the 200-day MA of 0.02, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 51.79 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1222.
Wang On Group Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | HK$1.51B | 3.44 | 4.37% | 6.00% | -11.27% | ― | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
54 Neutral | HK$415.00M | -5.40 | -1.06% | 0.71% | -19.90% | 73.76% | |
48 Neutral | HK$273.90M | -0.39 | -21.05% | 0.73% | -3.98% | 12.75% | |
46 Neutral | HK$273.97M | 22.14 | 0.97% | 3.74% | 6.83% | 360.00% | |
43 Neutral | HK$382.74M | -325.00 | -3.22% | ― | -7.37% | 58.14% | |
41 Neutral | HK$372.01M | -5.43 | -6.69% | ― | 17.70% | -67.27% |
* Industrials Sector Average
HK:1222
Wang On Group Limited
0.02
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Wang On Group Limited Corporate Events
Wang On Group Seeks Shareholder Nod for Shenzhen Asset Disposal and Guarantee Deal
Aug 20, 2026
Wang On Group Limited has called a special general meeting for 11 September 2026 in Hong Kong to seek shareholder approval of a conditional sale and purchase agreement and a related guarantee arrangement. The deal involves the disposal of the enti...
Wang On Group AGM Backs Governance Mandates But Rejects Re-Election of Director
Aug 19, 2026
Wang On Group Limited reported the poll results of its annual general meeting held on 19 August 2026, where shareholders overwhelmingly approved the adoption of the 2026 financial statements, the re-election of chairman Mr. Tang Ching Ho and direc...
Wang On Group Sets Out Board and Committee Roles to Bolster Governance
Aug 19, 2026
Wang On Group Limited has detailed its board composition and committee structure, confirming a mix of executive and independent non-executive directors. The board is led by Chairman Mr. Tang Ching Ho, with Ms. Stephanie as an executive director an...
Wang On Group and China Agri-Products Exchange Seal RMB64 Million Sale-Leaseback with Haier
Jul 24, 2026
Wang On Group and China Agri-Products Exchange have entered into a sale and leaseback arrangement through their subsidiaries Qinzhou Hongjin and Kaifeng Hongjin, selling certain leased assets to Haier for RMB64 million, equivalent to about HK$73.8...
Wang On Group Sets 2026 AGM, Seeks Share Buyback Mandate
Jul 24, 2026
Wang On Group Limited has called its annual general meeting for 19 August 2026 in Hong Kong, where shareholders will review the audited consolidated financial statements and directors’ and auditor’s reports for the year ended 31 March ...
Wang On Group Updates Bermuda Registered Office Address
Jul 21, 2026
Wang On Group Limited has announced that its registered office address in Bermuda will be changed to Richmond House, 12 Par-la-Ville Road, Hamilton HM 08, effective 3 August 2026. The company confirmed that its branch share registrar and transfer ...
Wang On Group and Wai Yuen Tong to Divest Property-Holding Subsidiary in Major Transaction
Jul 16, 2026
Wang On Group and its subsidiary Wai Yuen Tong Medicine have agreed to sell the entire issued share capital of a target company that holds a property asset for RMB99.8 million, or about HK$115.44 million. Upon completion, both groups will cease to...
Wang On Group renews HK$18 million in right-of-use leases, triggers disclosable transaction
Jul 16, 2026
Wang On Group Limited has renewed three leases through its subsidiaries, covering Premises A, B and C for about 30 months from 8 July 2026 to 31 December 2028. The right-of-use assets under these new leases will be recognized as property, plant an...
Wang On Group Narrows Annual Loss as Revenue and Asset Base Decline
Jun 25, 2026
Wang On Group reported revenue of HK$2.63 billion for the year ended 31 March 2026, a 4% decline from the previous year, as gross profit fell 26.3% to HK$596 million amid higher cost of sales. The group’s net asset value dropped 17.6% to HK$...
Wang On Group Sets June Board Meeting to Approve Annual Results and Consider Dividend
Jun 11, 2026
Wang On Group Limited has scheduled a board meeting for 25 June 2026 to review and approve the consolidated final results for the financial year ended 31 March 2026. The board will also consider the declaration of a final dividend, a decision that...
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.