Quali-Smart Holdings Ltd. (1348) AI Stock Analysis

Quali-Smart Holdings Ltd.

(HKEX:1348)

Select Model

Rating:40Underperform

Price Target:HKD 0.12▼(-4.69% Downside)

Action:downgraded

Date:10/09/26

The overall score reflects a very weak financial profile marked by sharp revenue decline, persistent losses, and deteriorating cash flows, which is further reinforced by a negative technical trend. The lack of earnings support for valuation and absence of dividend income add to the risk, while only moderate leverage offers a limited offset.

Positive Factors

Moderate LeverageDebt relative to equity remains below one times and improved year over year, providing some balance-sheet support despite the company’s broader weakness. Lower leverage can reduce financing pressure and preserve flexibility to manage operations or pursue recovery without relying entirely on new borrowing.

Negative Factors

Severe Revenue ContractionThe prolonged collapse in revenue indicates substantial erosion of the company’s operating scale and commercial base. A smaller revenue platform makes fixed costs harder to absorb, reduces reinvestment capacity, and leaves the business needing a significant turnaround before sustainable growth can resume.

Quali-Smart Holdings Ltd. (1348) vs. iShares MSCI Hong Kong ETF (EWH)

Market Cap: HKD 188.70M
Dividend Yield: ―
Average Volume (3M): 929.27K
Price to Earnings (P/E): -7.5
Beta (1Y): -0.04
Revenue Growth: ―
EPS Growth: ―
Country: Hong Kong
Employees: 9
Sector: Consumer Cyclical
Sector Strength: 61
Industry: Leisure

Quali-Smart Holdings Ltd. Business Overview & Revenue Model

Company Description

Quali-Smart Holdings Limited, an investment holding firm established in 2012 and headquartered in Tsuen Wan, Hong Kong, operates through two primary business segments: the production and distribution of toys, and the delivery of financial services. T...

How the Company Makes Money

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Quali-Smart Holdings Ltd. Financial Statement Overview

Summary

Revenue has declined sharply, profitability remains deeply negative, and cash flow has recently deteriorated, leaving the company with weak overall financial strength despite only moderate leverage.

Income Statement

18Very Negative

Balance Sheet

36Negative

Cash Flow

22Negative

Financial statement breakdown
Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	41.46M	26.63M	71.93M	177.26M	341.80M	485.79M
Gross Profit	15.78M	1.51M	23.48M	28.00M	44.93M	71.59M
EBITDA	-7.30M	-13.07M	-5.55M	-59.61M	-50.01M	-7.62M
Net Income	-18.43M	-25.02M	-17.87M	-73.94M	-72.32M	-35.63M
Balance Sheet
Total Assets	67.65M	27.76M	164.65M	176.55M	243.88M	438.84M
Cash, Cash Equivalents and Short-Term Investments	44.19M	22.44M	84.03M	78.02M	61.95M	98.55M
Total Debt	27.41M	10.24M	43.55M	38.86M	45.26M	58.48M
Total Liabilities	40.20M	14.55M	126.36M	120.38M	117.41M	145.76M
Stockholders Equity	27.45M	13.21M	38.24M	56.11M	126.39M	293.08M
Cash Flow
Free Cash Flow	18.36M	-25.36M	11.93M	23.47M	29.42M	12.08M
Operating Cash Flow	18.40M	-25.36M	11.95M	23.68M	35.10M	13.41M
Investing Cash Flow	-13.76M	49.25M	-36.00M	-19.86M	13.39M	-16.02M
Financing Cash Flow	-19.16M	-35.02M	-7.92M	-8.23M	-47.02M	-40.55M

Quali-Smart Holdings Ltd. Technical Analysis

Technical Analysis SentimentNegative

Last Price0.13

Price Trends

50DMA0.17Negative

100DMA0.21Negative

200DMA0.21Negative

Market Momentum

MACD-0.01Negative

RSI34.14Neutral

STOCH25.07Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1348, the sentiment is Negative. The current price of 0.13 is below the 20-day moving average (MA) of 0.15, below the 50-day MA of 0.17, and below the 200-day MA of 0.21, indicating a bearish trend. The MACD of -0.01 indicates Negative momentum. The RSI at 34.14 is Neutral, neither overbought nor oversold. The STOCH value of 25.07 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1348.

Quali-Smart Holdings Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

HK:1348 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HK:1086	70Outperform	HKD 2.32B	6.08	6.09%	18.05%	0.34%	40.53%
HK:0869	64Neutral	HKD 540.86M	-75.00	-0.68%	14.58%	-23.66%	-152.03%
Sector *	61Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
HK:0635	55Neutral	HKD 1.02B	-4.13	-5.52%	9.09%	-18.78%	42.15%
HK:3830	47Neutral	HKD 175.00M	-28.23	-36.67%	―	1.90%	11.43%
HK:1348	40Underperform	HKD 188.70M	-7.53	-123.07%	―	―	―
HK:0180	40Underperform	HKD 215.78M	-0.91	-14.23%	―	4.04%	-16.43%

* Consumer Cyclical Sector Average

Performance Comparison

HK:1348 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
HK:1348	Quali-Smart Holdings Ltd.	0.13	-0.00	-1.54%
HK:1086	Goodbaby International Holdings	1.39	0.47	50.87%
HK:0869	Playmates Toys	0.48	-0.06	-11.11%
HK:0635	Playmates Holdings	0.49	0.01	2.06%
HK:0180	Kader Holdings Co. Ltd.	0.23	0.03	17.01%
HK:3830	Kiddieland International Ltd.	0.17	0.11	182.26%

Quali-Smart Holdings Ltd. Corporate Events

Quali-Smart Wins Unanimous Shareholder Backing for All AGM Resolutions

Sep 28, 2026

Quali-Smart Holdings Limited reported that all resolutions at its 28 September 2026 annual general meeting were approved by shareholders through poll voting, with 1,102,528,000 votes cast in favor and none against for each motion. The meeting adopted...

Quali-Smart Sets 2026 AGM to Renew Board, Auditor and Share Issuance Mandate

Sep 4, 2026

Quali-Smart Holdings Ltd. has called its annual general meeting for 28 September 2026 in Central, Hong Kong, where shareholders will vote on adopting the audited consolidated financial statements and directors’ and auditor’s reports for t...

Quali-Smart shifts to new .com corporate website for disclosures

Sep 2, 2026

Quali-Smart Holdings Ltd. has updated its corporate website address from a Hong Kong-specific domain to a global “.com” domain, effective 2 September 2026. The change centralises investor information, with all exchange-filed announcements...

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.

Date of analysis: Oct 09, 2026

Quali-Smart Holdings Ltd. AI Stock Analysis