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Major Holdings Ltd.
(1389)
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Rating:50Neutral
Price Target:
HK$0.51
▲(41.67% Upside)
Action:Reiterated
Date:09/23/26
The score is held back primarily by persistent losses and recently negative operating/free cash flow despite a strong, low-leverage balance sheet. Technicals are supportive with price above major moving averages, but the stock looks overbought (high RSI). Valuation is constrained by a negative P/E driven by ongoing unprofitability.
Positive Factors
Conservative Balance Sheet
Very low leverage reduces refinancing exposure and preserves financial flexibility when operating performance is weak. A sizable, stable equity base also provides a cushion against volatility, allowing the company more time to improve operations without immediate balance-sheet pressure.
Negative Factors
Persistent Unprofitability
Ongoing net losses and negative EBIT show that the core business has not yet reached sustainable operating profitability. Continued losses can consume capital, limit reinvestment capacity, and reduce the ability to fund growth or shareholder returns from internally generated earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Very low leverage reduces refinancing exposure and preserves financial flexibility when operating performance is weak. A sizable, stable equity base also provides a cushion against volatility, allowing the company more time to improve operations without immediate balance-sheet pressure.
Read all positive factors
Major Holdings Ltd. (1389) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$288.25M
Dividend Yield0.71%
Average Volume (3M)117.44K
Price to Earnings (P/E)―
Beta (1Y)0.33
Revenue Growth-9.07%
EPS Growth86.31%
CountryHK
Employees17
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Wineries & Distilleries
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding554,333,300
10 Day Avg. Volume47,200
30 Day Avg. Volume117,440
Financial Highlights & Ratios
PEG Ratio0.88
Price to Book (P/B)1.29
Price to Sales (P/S)2.63
P/FCF Ratio-26.00
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
Major Holdings Ltd. Business Overview & Revenue Model
Company Description
Operating as an investment holding company, Major Holdings Limited primarily focuses on the importation and distribution of high-quality wines and spirits throughout Hong Kong. The company's diverse portfolio includes various types of wine, such a...
Major Holdings Ltd. Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
74
Positive
Cash Flow
32
Negative
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 52.76M | 58.02M | 63.04M | 74.44M | 107.79M |
| Gross Profit | 6.43M | -8.88M | 5.47M | 7.87M | 13.84M |
| EBITDA | -2.71M | -10.84M | -10.05M | -11.06M | 2.15M |
| Net Income | -1.85M | -13.36M | -15.68M | -16.59M | -8.71M |
Balance Sheet | |||||
| Total Assets | 132.19M | 117.84M | 135.95M | 132.36M | 173.35M |
| Cash, Cash Equivalents and Short-Term Investments | 4.90M | 11.52M | 26.45M | 5.93M | 7.18M |
| Total Debt | 685.00K | 1.23M | 4.79M | 12.13M | 23.65M |
| Total Liabilities | 24.43M | 8.22M | 12.98M | 22.55M | 46.94M |
| Stockholders Equity | 107.76M | 109.61M | 122.97M | 109.81M | 126.41M |
Cash Flow | |||||
| Free Cash Flow | -5.33M | -13.02M | 1.13M | 17.81M | -3.52M |
| Operating Cash Flow | -5.33M | -12.52M | 1.29M | 20.17M | -3.48M |
| Investing Cash Flow | 1.00K | -330.00K | -108.00K | 3.72M | 17.00K |
| Financing Cash Flow | -1.29M | -2.08M | 19.34M | -25.14M | 3.75M |
Major Holdings Ltd. Technical Analysis
Positive
0.36
Price Trends
0.49
Positive
0.51
Positive
0.42
Positive
Market Momentum
<0.01
Positive
53.35
Neutral
25.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1389, the sentiment is Positive. The current price of 0.36 is below the 20-day moving average (MA) of 0.51, below the 50-day MA of 0.49, and below the 200-day MA of 0.42, indicating a bullish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 53.35 is Neutral, neither overbought nor oversold. The STOCH value of 25.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1389.
Major Holdings Ltd. Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | HK$204.00M | 3.67 | 15.43% | ― | -4.14% | 0.91% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
57 Neutral | HK$93.48M | -15.77 | -6.57% | 3.69% | 61.46% | 89.83% | |
50 Neutral | HK$288.25M | -157.58 | -1.72% | 0.71% | -9.07% | 86.31% | |
47 Neutral | HK$321.14M | -75.49 | -3.96% | 112.17% | -9.97% | 94.50% | |
47 Neutral | HK$226.75M | 36.05 | 1.80% | 2.17% | -49.66% | -73.78% | |
44 Neutral | HK$190.22M | -10.70 | -7.25% | 2.11% | -1.25% | -6.69% |
* Consumer Defensive Sector Average
HK:1389
Major Holdings Ltd.
0.52
-0.17
-24.64%
HK:0389
China Tontine Wines Group
0.36
-0.07
-16.28%
HK:1446
Hung Fook Tong Group Holdings Ltd
0.29
-0.15
-34.09%
HK:8146
Grace Wine Holdings Limited
0.38
0.26
224.79%
HK:0828
Dynasty Fine Wines Group Limited
0.16
-0.13
-45.61%
HK:8509
Wine's Link International Holdings Limited
0.51
-0.20
-28.17%
Major Holdings Ltd. Corporate Events
Major Holdings Wins Unanimous Shareholder Backing at 2026 AGM
Aug 7, 2026
Major Holdings Limited, incorporated in the Cayman Islands and listed in Hong Kong, maintains a governance structure led by chairman and executive director Cheung Chun To alongside three independent non-executive directors. The company engages ext...
Major Holdings Sets Audit Fee Range in Plan to Re-Appoint Rongcheng CPA
Jul 3, 2026
Major Holdings Ltd., incorporated in the Cayman Islands and listed in Hong Kong under stock code 1389, operates as a public company with its governance overseen by an audit committee and a board that includes executive and independent non-executiv...
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.