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Man Shun Group (Holdings) Ltd.
(1746)
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Rating:55Neutral
Price Target:
HK$0.53
▲(88.57% Upside)
Action:Reiterated
Date:10/14/26
The score is held back primarily by weak financial performance (contracting revenue and ongoing net losses), despite a strong low-debt balance sheet and improved 2025 cash flow. Technicals add moderate support as the stock trades above key moving averages with balanced momentum, while valuation remains a clear negative due to the negative P/E and no provided dividend yield.
Positive Factors
Very Low Leverage
Very low leverage reduces balance-sheet risk and limits the burden of interest or refinancing costs. A sizable, stable equity base also provides resilience during weaker project periods, preserving financial flexibility to manage downturns and support future operations.
Negative Factors
Shrinking Revenue
Two consecutive years of declining revenue point to weaker demand or project cadence, which can reduce utilization and make fixed costs harder to absorb. Continued contraction would constrain growth capacity and make a return to sustained profitability more difficult.
Read all positive and negative factors
Positive Factors
Negative Factors
Very Low Leverage
Very low leverage reduces balance-sheet risk and limits the burden of interest or refinancing costs. A sizable, stable equity base also provides resilience during weaker project periods, preserving financial flexibility to manage downturns and support future operations.
Read all positive factors
Man Shun Group (Holdings) Ltd. (1746) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$490.00M
Dividend Yield12.63%
Average Volume (3M)265.33K
Price to Earnings (P/E)―
Beta (1Y)0.59
Revenue Growth9.03%
EPS Growth64.62%
CountryHK
Employees55
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding1,000,000,000
10 Day Avg. Volume105,200
30 Day Avg. Volume265,333
Financial Highlights & Ratios
PEG Ratio1.79
Price to Book (P/B)2.41
Price to Sales (P/S)2.92
P/FCF Ratio14.07
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
Man Shun Group (Holdings) Ltd. Business Overview & Revenue Model
Company Description
Man Shun Group (Holdings) Limited functions as an investment holding entity primarily dedicated to deploying heating, ventilation, and air-conditioning (HVAC) systems across Hong Kong. Its capabilities encompass comprehensive HVAC electrical and m...
Man Shun Group (Holdings) Ltd. Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
78
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 115.45M | 97.62M | 131.26M | 152.95M | 125.09M | 121.67M |
| Gross Profit | 14.38M | 16.39M | 13.38M | 19.21M | 18.71M | 20.96M |
| EBITDA | -4.46M | -714.00K | -5.07M | 2.89M | 2.35M | -293.00K |
| Net Income | -2.29M | -2.51M | -6.86M | 680.00K | 238.00K | -2.23M |
Balance Sheet | ||||||
| Total Assets | 141.30M | 139.70M | 136.50M | 172.71M | 164.37M | 171.50M |
| Cash, Cash Equivalents and Short-Term Investments | 71.30M | 85.00M | 66.81M | 88.37M | 68.99M | 90.05M |
| Total Debt | 445.00K | 1.17M | 854.00K | 1.51M | 1.29M | 2.01M |
| Total Liabilities | 24.07M | 21.24M | 15.53M | 20.89M | 13.22M | 20.59M |
| Stockholders Equity | 117.23M | 118.45M | 120.97M | 151.83M | 151.15M | 150.91M |
Cash Flow | ||||||
| Free Cash Flow | -6.83M | 20.25M | -386.00K | 21.42M | -19.72M | -4.95M |
| Operating Cash Flow | -6.36M | 20.36M | 193.00K | 19.16M | -19.17M | -4.87M |
| Investing Cash Flow | -468.00K | 1.10M | 1.94M | 6.13M | 35.40M | 19.92M |
| Financing Cash Flow | -1.41M | -1.49M | -25.48M | -1.51M | -1.90M | -1.87M |
Man Shun Group (Holdings) Ltd. Technical Analysis
Neutral
0.28
Price Trends
0.50
Negative
0.48
Positive
0.45
Positive
Market Momentum
<0.01
Positive
45.17
Neutral
63.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1746, the sentiment is Neutral. The current price of 0.28 is below the 20-day moving average (MA) of 0.51, below the 50-day MA of 0.50, and below the 200-day MA of 0.45, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 45.17 is Neutral, neither overbought nor oversold. The STOCH value of 63.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:1746.
Man Shun Group (Holdings) Ltd. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | HK$364.50M | 3.15 | 13.15% | 24.69% | -31.57% | -12.77% | |
71 Outperform | HK$730.00M | 2.54 | 15.75% | 8.22% | 15.16% | 25.81% | |
71 Outperform | HK$1.08B | 23.19 | 4.18% | 18.75% | -18.58% | -27.75% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
55 Neutral | HK$490.00M | -213.04 | -1.95% | 12.63% | 9.03% | 64.62% | |
48 Neutral | HK$992.50M | -935.84 | -0.44% | 1.67% | 4.76% | -144.68% | |
40 Underperform | HK$248.90M | -3.20 | -110.87% | ― | -11.41% | 9.14% |
* Industrials Sector Average
HK:1746
Man Shun Group (Holdings) Ltd.
0.49
0.20
66.10%
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0.24
-0.07
-23.10%
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0.37
-0.32
-46.79%
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0.22
-1.17
-84.32%
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0.20
10.89%
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0.05
17.65%
Man Shun Group (Holdings) Ltd. Corporate Events
Man Shun Group Issues Update on Potential Change of Control Deal
Oct 9, 2026
Man Shun Group (Holdings) Ltd., incorporated in the Cayman Islands and listed on the Hong Kong Stock Exchange, is overseen by a board comprising two executive directors and three independent non-executive directors. The directors emphasize their j...
Man Shun Group Updates Market on Potential Change-of-Control Deal
Sep 10, 2026
Man Shun Group (Holdings) Ltd. has issued a monthly update under Hong Kong’s Takeovers Code, outlining the status of a possible change of control transaction involving the sale of shares held by existing vendors to a potential purchaser. The...
Man Shun Group Narrows Interim Loss Despite Surging Revenue
Aug 28, 2026
Man Shun Group (Holdings) Limited reported a sharp increase in revenue to HK$61.85 million for the six months ended 30 June 2026, up from HK$44.02 million a year earlier. Despite this top-line growth, gross profit slipped and the group remained lo...
Man Shun Group Sets August Board Meeting for Interim Results and Dividend Decision
Aug 14, 2026
Man Shun Group (Holdings) Ltd., a Cayman Islands-incorporated company listed on the Hong Kong Stock Exchange under stock code 1746, has a board led by chairman and executive director Cheung Yuen Tung and fellow executive director Cheung Yuen Chau,...
Man Shun Group Maintains Talks on Potential Change of Control
Aug 10, 2026
Man Shun Group (Holdings) Limited has disclosed that a potential change of control remains under discussion, as vendors continue negotiating a possible sale of their indirectly held shares to a potential purchaser. The prospective buyer is current...
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.