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Plover Bay Technologies Ltd.
(1523)
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Rating:77Outperform
Price Target:
HK$8.00
▲(8.11% Upside)
Action:Reiterated
Date:08/01/26
The score is driven primarily by strong financial performance (high profitability, conservative balance sheet, and solid cash generation). Technical signals are mixed based on moving averages, and valuation is moderate with a supportive dividend yield but a not-cheap P/E.
Positive Factors
High and improving profitability
Sustained gross-margin strength and improving operating and net profitability indicate that the company converts revenue into earnings efficiently. This supports internal funding for product development and expansion while providing resilience if demand or industry conditions become less favorable.
Negative Factors
Uneven revenue growth
The uneven growth pattern, including near-flat performance in 2024, suggests demand or execution can vary materially between periods. Even with renewed growth in 2025, this history raises the risk that future expansion may be less predictable than the longer-term revenue trend implies.
Read all positive and negative factors
Positive Factors
Negative Factors
High and improving profitability
Sustained gross-margin strength and improving operating and net profitability indicate that the company converts revenue into earnings efficiently. This supports internal funding for product development and expansion while providing resilience if demand or industry conditions become less favorable.
Read all positive factors
Plover Bay Technologies Ltd. (1523) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$8.01B
Dividend Yield5.24%
Average Volume (3M)502.01K
Price to Earnings (P/E)19.6
Beta (1Y)0.79
Revenue Growth16.15%
EPS Growth26.85%
CountryHK
Employees216
SectorTechnology
Sector Strength88
IndustryCommunication Equipment
Share Statistics
EPS (TTM)0.05
Shares Outstanding1,107,684,000
10 Day Avg. Volume612,969
30 Day Avg. Volume502,006
Financial Highlights & Ratios
PEG Ratio0.98
Price to Book (P/B)14.42
Price to Sales (P/S)6.53
P/FCF Ratio16.00
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)0.39
Revenue Forecast (FY)HK$1.19B
Plover Bay Technologies Ltd. Business Overview & Revenue Model
Company Description
Plover Bay Technologies Limited functions as an investment holding company with a global presence, primarily engaged in the creation, production, promotion, and distribution of software-defined wide area network (SD-WAN) routers. The company addit...
Plover Bay Technologies Ltd. Financial Statement Overview
Summary
Income Statement
88
Very Positive
Balance Sheet
86
Very Positive
Cash Flow
84
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 141.62M | 130.14M | 116.79M | 94.26M | 86.76M | 74.13M |
| Gross Profit | 81.46M | 74.12M | 64.15M | 50.91M | 46.51M | 43.16M |
| EBITDA | 62.41M | 55.07M | 48.86M | 35.03M | 29.43M | 27.21M |
| Net Income | 51.45M | 45.47M | 38.05M | 28.10M | 22.66M | 21.20M |
Balance Sheet | ||||||
| Total Assets | 122.76M | 118.24M | 110.11M | 85.28M | 83.29M | 71.74M |
| Cash, Cash Equivalents and Short-Term Investments | 55.16M | 67.38M | 65.93M | 36.74M | 28.66M | 33.17M |
| Total Debt | 7.42M | 1.97M | 11.10M | 4.47M | 8.72M | 7.02M |
| Total Liabilities | 66.83M | 59.31M | 53.81M | 35.05M | 40.00M | 31.66M |
| Stockholders Equity | 55.93M | 58.93M | 56.30M | 50.22M | 43.29M | 40.08M |
Cash Flow | ||||||
| Free Cash Flow | 45.58M | 53.12M | 54.09M | 35.84M | 16.81M | 18.35M |
| Operating Cash Flow | 46.39M | 53.88M | 55.16M | 37.72M | 17.57M | 18.92M |
| Investing Cash Flow | 4.74M | -1.27M | 754.00K | -956.00K | -1.05M | -1.39M |
| Financing Cash Flow | -47.74M | -53.72M | -26.65M | -28.83M | -19.38M | -16.91M |
Plover Bay Technologies Ltd. Technical Analysis
Negative
7.40
Price Trends
7.49
Negative
7.74
Negative
7.72
Negative
Market Momentum
-0.01
Positive
40.45
Neutral
22.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1523, the sentiment is Negative. The current price of 7.4 is below the 20-day moving average (MA) of 7.63, below the 50-day MA of 7.49, and below the 200-day MA of 7.72, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 40.45 is Neutral, neither overbought nor oversold. The STOCH value of 22.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1523.
Plover Bay Technologies Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | HK$8.01B | 19.57 | 89.60% | 5.24% | 16.15% | 26.85% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | HK$2.85B | 101.67 | 0.86% | 0.28% | 4.27% | ― | |
57 Neutral | HK$161.46B | 59.64 | 30.10% | 1.63% | 38.70% | 468.60% | |
53 Neutral | HK$307.36M | 6.17 | 4.88% | 1.72% | 11.57% | -26.37% | |
46 Neutral | HK$144.41B | 30.34 | 5.67% | 2.45% | 19.98% | -20.48% | |
46 Neutral | HK$3.66B | -49.74 | -14.47% | ― | 76.36% | 48.06% |
* Technology Sector Average
HK:1523
Plover Bay Technologies Ltd.
7.23
1.14
18.66%
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Plover Bay Technologies Ltd. Corporate Events
Plover Bay reshapes board as three independent directors step down
Sep 30, 2026
Plover Bay Technologies Ltd. has announced that three long-serving independent non-executive directors, Dr. Yu Kin Tim, Mr. Wan Sze Chung and Mr. Ho Chi Lam, will resign from the board and relevant committees with effect from 1 October 2026. Their...
Plover Bay Technologies Details Board and Committee Structure
Sep 30, 2026
Plover Bay Technologies Ltd. announced the current composition of its board of directors, detailing five executive directors and three independent non-executive directors. The company also disclosed membership and chairmanship across its four key ...
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.