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A & S Group (Holdings) Limited
(1737)
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Rating:51Neutral
Price Target:
HK$0.21
▲(136.67% Upside)
Action:Reiterated
Date:09/24/26
The score is held back primarily by deteriorating profitability (two years of net losses, negative EBIT, and sharp margin compression) despite supportive balance sheet leverage and still-positive cash flows. Technicals are a relative strength with price trading above key moving averages and positive MACD, but valuation remains weak due to the negative P/E and lack of dividend yield data.
Positive Factors
Manageable Leverage
Moderate and declining leverage gives the company a stronger financial base than a highly indebted peer. This supports resilience during operational weakness, preserves borrowing capacity for future needs, and reduces the extent to which interest obligations could restrict capital allocation.
Negative Factors
Declining Revenue
Consecutive annual revenue declines point to weakening business momentum and reduce the scale available to absorb fixed operating costs. Unless growth resumes, the smaller revenue base may make margin recovery harder and limit the company’s ability to rebuild earnings over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Manageable Leverage
Moderate and declining leverage gives the company a stronger financial base than a highly indebted peer. This supports resilience during operational weakness, preserves borrowing capacity for future needs, and reduces the extent to which interest obligations could restrict capital allocation.
Read all positive factors
A & S Group (Holdings) Limited (1737) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$209.00M
Dividend Yield18.18%
Average Volume (3M)587.33K
Price to Earnings (P/E)―
Beta (1Y)0.33
Revenue Growth-17.32%
EPS Growth-8.08%
CountryHK
Employees317
SectorIndustrials
Sector Strength72
IndustryIntegrated Freight & Logistics
Share Statistics
EPS (TTM)-0.02
Shares Outstanding1,000,000,000
10 Day Avg. Volume382,000
30 Day Avg. Volume587,333
Financial Highlights & Ratios
PEG Ratio-0.58
Price to Book (P/B)0.62
Price to Sales (P/S)0.22
P/FCF Ratio4.39
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
A & S Group (Holdings) Limited Business Overview & Revenue Model
Company Description
A & S Group (Holdings) Limited functions as an investment holding entity, specializing in comprehensive air freight forwarding ground handling and air cargo terminal operations across Hong Kong. Their ground handling division encompasses essential...
A & S Group (Holdings) Limited Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
67
Positive
Cash Flow
58
Neutral
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 457.70M | 553.59M | 649.57M | 508.46M | 520.20M |
| Gross Profit | 25.67M | 39.21M | 74.13M | 45.85M | 79.42M |
| EBITDA | 19.92M | 32.52M | 78.95M | 68.10M | 87.73M |
| Net Income | -21.42M | -19.80M | 17.63M | 8.59M | 32.52M |
Balance Sheet | |||||
| Total Assets | 258.04M | 319.98M | 310.35M | 329.20M | 316.23M |
| Cash, Cash Equivalents and Short-Term Investments | 73.91M | 79.22M | 84.99M | 82.69M | 128.73M |
| Total Debt | 42.01M | 71.50M | 11.02M | 60.14M | 36.94M |
| Total Liabilities | 95.85M | 135.66M | 86.22M | 122.71M | 93.32M |
| Stockholders Equity | 162.97M | 184.32M | 224.13M | 206.49M | 222.91M |
Cash Flow | |||||
| Free Cash Flow | 23.03M | 52.30M | 52.08M | 47.16M | 83.15M |
| Operating Cash Flow | 23.04M | 72.88M | 54.81M | 54.62M | 90.37M |
| Investing Cash Flow | 149.00K | -20.14M | -2.34M | -6.98M | -7.22M |
| Financing Cash Flow | -31.57M | -58.51M | -50.18M | -93.68M | -56.28M |
A & S Group (Holdings) Limited Technical Analysis
Positive
0.09
Price Trends
0.18
Positive
0.16
Positive
0.14
Positive
Market Momentum
<0.01
Positive
64.81
Neutral
68.29
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1737, the sentiment is Positive. The current price of 0.09 is below the 20-day moving average (MA) of 0.20, below the 50-day MA of 0.18, and below the 200-day MA of 0.14, indicating a bullish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 64.81 is Neutral, neither overbought nor oversold. The STOCH value of 68.29 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1737.
A & S Group (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$209.00M | -9.77 | -12.76% | 18.18% | -17.32% | -8.08% | |
48 Neutral | HK$485.04M | 37.99 | 1.96% | 1.67% | 9.69% | -68.56% | |
42 Neutral | HK$120.17M | -0.56 | -279.24% | 5.66% | -5.58% | -92.72% | |
42 Neutral | HK$115.38M | -0.47 | -195.88% | 0.45% | 24.59% | -2581.36% | |
42 Neutral | HK$58.44M | -1.73 | -43.67% | ― | -22.74% | 22.56% | |
41 Neutral | HK$177.09M | -4.24 | -8.08% | ― | ― | ― |
* Industrials Sector Average
HK:1737
A & S Group (Holdings) Limited
0.21
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0.05
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Infinity Logistics and Transport Ventures Limited
0.24
-0.09
-26.56%
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China Ocean Group Development Limited
0.03
0.00
0.00%
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Worldgate Global Logistics Ltd.
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Grand Power Logistics Group Limited
0.19
0.05
35.71%
A & S Group (Holdings) Limited Corporate Events
A & S Group Wins Unanimous Shareholder Backing for Governance and Capital Mandates
Sep 15, 2026
A S Group (Holdings) Limited, incorporated in the Cayman Islands and listed in Hong Kong, is governed by a board that includes both executive and independent non-executive directors. All 1 billion issued shares carry voting rights, underscoring a...
A & S Group Sets Terms for Re-Appointment of HLB as Auditor
Aug 7, 2026
A S Group (Holdings) Limited has issued supplemental information regarding the proposed re-appointment of HLB Hodgson Impey Cheng Limited as its independent auditor at the upcoming annual general meeting. The board, following the audit committee&...
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.