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Veson Holdings Limited
(1399)
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Rating:44Neutral
Price Target:
HK$0.35
▲(83.68% Upside)
Action:Reiterated
Date:07/10/26
The score is held down primarily by financial performance—sharp leverage increase and negative 2025 free cash flow outweigh the revenue rebound and small return to profit. Technicals are broadly neutral with mixed short-term vs longer-term trend signals. Valuation is reasonable on a ~11.8 P/E, providing some support but not enough to offset balance-sheet and cash-flow risk.
Positive Factors
Revenue Recovery
The 2025 revenue rebound indicates renewed demand or improved execution after several years of contraction. Sustaining this recovery would strengthen operating scale and provide a foundation for rebuilding profitability.
Negative Factors
Sharp Leverage Increase
The sharp debt increase materially raises balance-sheet risk relative to the stable equity base. Higher leverage can constrain financial flexibility, increase sensitivity to earnings weakness, and make future investment more dependent on creditors.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Recovery
The 2025 revenue rebound indicates renewed demand or improved execution after several years of contraction. Sustaining this recovery would strengthen operating scale and provide a foundation for rebuilding profitability.
Read all positive factors
Veson Holdings Limited (1399) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$403.30M
Dividend Yield1.27%
Average Volume (3M)116.07K
Price to Earnings (P/E)5.9
Beta (1Y)<0.01
Revenue Growth9.75%
EPS GrowthN/A
CountryHK
Employees2,415
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)0.05
Shares Outstanding1,090,001,200
10 Day Avg. Volume52,200
30 Day Avg. Volume116,066
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)0.17
Price to Sales (P/S)0.04
P/FCF Ratio-6.95
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
Veson Holdings Limited Business Overview & Revenue Model
Company Description
Veson Holdings Limited, an investment holding company founded in 1997 and headquartered in Causeway Bay, Hong Kong, was formerly known as SCUD Group Limited until its rebranding in November 2020. The company primarily operates within the People's ...
Veson Holdings Limited Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
38
Negative
Cash Flow
34
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.61B | 5.23B | 5.34B | 6.15B | 6.36B | 7.09B |
| Gross Profit | 392.03M | 389.58M | 370.36M | 418.78M | 452.96M | 512.76M |
| EBITDA | 213.67M | 182.41M | 163.99M | 205.60M | 192.18M | 214.32M |
| Net Income | 57.36M | 21.54M | -11.98M | 20.11M | 24.04M | 42.18M |
Balance Sheet | ||||||
| Total Assets | 4.41B | 4.38B | 4.37B | 4.87B | 5.04B | 5.58B |
| Cash, Cash Equivalents and Short-Term Investments | 686.92M | 821.92M | 332.96M | 133.82M | 200.94M | 226.69M |
| Total Debt | 2.41B | 2.43B | 1.23B | 1.31B | 1.20B | 1.20B |
| Total Liabilities | 3.28B | 3.27B | 3.28B | 3.78B | 3.97B | 4.52B |
| Stockholders Equity | 1.12B | 1.10B | 1.07B | 1.09B | 1.07B | 1.06B |
Cash Flow | ||||||
| Free Cash Flow | -1.09M | -26.49M | 221.45M | -130.50M | -251.24M | -5.83M |
| Operating Cash Flow | 84.36M | 43.72M | 256.00M | -102.10M | -177.85M | 152.87M |
| Investing Cash Flow | -69.10M | -64.97M | 89.23M | -11.66M | 224.81M | -392.91M |
| Financing Cash Flow | 23.00M | -88.34M | -140.59M | 42.05M | -58.82M | 252.22M |
Veson Holdings Limited Technical Analysis
Neutral
0.19
Price Trends
0.37
Negative
0.36
Positive
0.28
Positive
Market Momentum
<0.01
Negative
49.05
Neutral
53.03
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1399, the sentiment is Neutral. The current price of 0.19 is below the 20-day moving average (MA) of 0.36, below the 50-day MA of 0.37, and below the 200-day MA of 0.28, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 49.05 is Neutral, neither overbought nor oversold. The STOCH value of 53.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:1399.
Veson Holdings Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
51 Neutral | HK$31.42B | 16.15 | 4.44% | ― | 79.77% | 149.08% | |
44 Neutral | HK$403.30M | 5.94 | 5.17% | 1.27% | 9.75% | ― | |
44 Neutral | HK$345.63M | -3.42 | -11.50% | ― | -7.44% | 56.28% | |
44 Neutral | HK$1.32B | -9.13 | -2.82% | 11.96% | -44.15% | -130.35% | |
43 Neutral | HK$347.03M | -1.29 | -18.87% | 2.55% | -8.00% | -254.95% | |
37 Underperform | HK$101.46M | -2.50 | -6.77% | 7.69% | 11.05% | 20.00% |
* Industrials Sector Average
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Veson Holdings Limited Corporate Events
Veson Holdings Sets Board Meeting to Approve 2026 Interim Results and Consider Dividend
Aug 13, 2026
Veson Holdings Limited has scheduled a board meeting for 31 August 2026 to review and approve the interim results for the six months ended 30 June 2026, and to consider the declaration of an interim dividend. The meeting will also address any othe...
Veson Holdings Sets Out Board and Committee Structure for Governance Oversight
Jun 2, 2026
Veson Holdings Limited has detailed the current composition of its board of directors, led by chairman Ni Chen Hui and chief executive officer Lian Xiu Qin, alongside one non-executive and three independent non-executive directors. The company als...
Veson Holdings Sets Out Strengthened Terms of Reference for Audit Committee
Jun 2, 2026
Veson Holdings Limited has formalised detailed terms of reference for its Audit Committee, setting out its purpose of advising the board on the application of financial reporting principles and overseeing the company’s relationship with exte...
Veson Holdings Sets Formal Terms for Nomination Committee to Bolster Board Governance
Jun 2, 2026
Veson Holdings Limited has formalised detailed terms of reference for its Nomination Committee to strengthen board governance and director selection practices. The committee will be composed primarily of independent non-executive directors, must i...
Veson Sets Formal Terms for Independent-Led Remuneration Committee
Jun 2, 2026
Veson Holdings Limited has formally set out the terms of reference for its Remuneration Committee, specifying its composition, authority and operating procedures in line with Hong Kong Listing Rules. The committee must comprise a majority of indep...
Veson Holdings Sets Formal Mandate for Corporate Governance and Risk Oversight Committee
Jun 2, 2026
Veson Holdings Limited has formalised the terms of reference for its Corporate Governance Committee, which reports to the board and is tasked with aligning the company’s governance framework with Hong Kong Listing Rules and the Corporate Gov...
Veson Holdings Adopts Comprehensive Workforce Diversity Policy
Jun 2, 2026
Veson Holdings Limited has adopted a formal Workforce Diversity Policy that commits the group to equality and non-discrimination across its operations, covering all employees of the company and its subsidiaries. The policy underscores equal access...
Veson Holdings Wins Full Shareholder Backing at 2026 AGM
Jun 2, 2026
Veson Holdings Limited announced that shareholders approved all resolutions at its annual general meeting held on 2 June 2026, including the reception of the 2025 audited financial statements and the re-election and appointment of several executiv...
Veson Holdings Reshapes Board With ESG-Focused Independent Director Appointment
Jun 2, 2026
Veson Holdings has announced the resignation of independent non-executive director Lam Yau Yiu, who is also stepping down as chairman of the corporate governance committee and as a member of the audit, remuneration and nomination committees, effec...
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.