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Prinx Chengshan Holdings Limited
(1809)
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Rating:69Neutral
Price Target:
HK$7.50
▼(-5.54% Downside)
Action:Downgraded
Date:08/06/26
The score is driven primarily by solid underlying fundamentals (multi-year growth, strong 2023–2024 profitability, and improved balance-sheet strength), tempered by 2025’s earnings/margin softening and rising debt. Valuation is a major positive given the very low P/E and high dividend yield, while technicals remain weak with the price below key moving averages and slightly negative momentum.
Positive Factors
Consistent Revenue Growth
Sustained revenue growth indicates durable demand for the company’s replacement tires and expanding scale across passenger, commercial and overseas markets, providing a solid foundation for continued operating leverage.
Negative Factors
2025 Margin and Earnings Decline
Earnings deterioration while revenue still grows points to pressure from input costs, pricing, product mix or manufacturing efficiency. If persistent, weaker margins could limit cash generation and reduce returns on expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent Revenue Growth
Sustained revenue growth indicates durable demand for the company’s replacement tires and expanding scale across passenger, commercial and overseas markets, providing a solid foundation for continued operating leverage.
Read all positive factors
Prinx Chengshan Holdings Limited (1809) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$4.67B
Dividend Yield6.99%
Average Volume (3M)59.10K
Price to Earnings (P/E)4.0
Beta (1Y)0.35
Revenue Growth8.69%
EPS Growth2.14%
CountryHK
Employees6,834
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)1.56
Shares Outstanding638,645,000
10 Day Avg. Volume50,950
30 Day Avg. Volume59,100
Financial Highlights & Ratios
PEG Ratio-0.24
Price to Book (P/B)0.62
Price to Sales (P/S)0.38
P/FCF Ratio7.90
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)2.58
Revenue Forecast (FY)HK$12.69B
Prinx Chengshan Holdings Limited Business Overview & Revenue Model
Company Description
Prinx Chengshan Holdings Limited (1809) is a tire manufacturer engaged in the development, manufacturing and sale of tires, with a product portfolio covering passenger car tires, light truck tires, truck and bus radial (TBR) tires, and other relat...
How the Company Makes Money
Prinx Chengshan primarily makes money by manufacturing and selling tires, with revenue recognized from sales of finished tire products to customers through various distribution channels. Its key revenue streams are driven by (1) replacement tire s...
Prinx Chengshan Holdings Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
74
Positive
Cash Flow
68
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 11.89B | 11.81B | 10.97B | 9.95B | 8.15B | 7.54B |
| Gross Profit | 2.17B | 2.14B | 2.33B | 2.12B | 1.17B | 1.04B |
| EBITDA | 1.68B | 1.68B | 1.87B | 1.71B | 833.18M | 574.07M |
| Net Income | 993.67M | 1.09B | 1.31B | 1.03B | 393.78M | 276.30M |
Balance Sheet | ||||||
| Total Assets | 12.13B | 11.79B | 11.02B | 10.60B | 9.99B | 9.10B |
| Cash, Cash Equivalents and Short-Term Investments | 956.14M | 1.25B | 704.57M | 726.28M | 1.24B | 835.97M |
| Total Debt | 1.58B | 1.74B | 809.26M | 2.14B | 3.12B | 2.79B |
| Total Liabilities | 4.97B | 4.53B | 4.48B | 5.17B | 5.53B | 5.18B |
| Stockholders Equity | 7.16B | 7.19B | 6.54B | 5.43B | 4.45B | 3.92B |
Cash Flow | ||||||
| Free Cash Flow | 281.80M | 564.12M | 667.78M | 558.58M | 208.12M | -1.02B |
| Operating Cash Flow | 1.29B | 1.12B | 1.25B | 996.80M | 805.42M | 382.13M |
| Investing Cash Flow | -1.09B | -553.08M | -515.28M | -306.31M | -681.67M | -1.34B |
| Financing Cash Flow | 138.06M | -163.12M | -733.82M | -1.13B | 89.88M | 1.14B |
Prinx Chengshan Holdings Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | HK$12.39B | 12.66 | 5.82% | 2.90% | 5.98% | 13.92% | |
76 Outperform | HK$168.36B | 17.59 | 22.56% | 4.17% | 13.06% | -0.41% | |
70 Outperform | HK$29.12B | 8.80 | 12.03% | 6.04% | 14.21% | 14.88% | |
69 Neutral | HK$4.67B | 4.03 | 13.84% | 6.99% | 8.69% | 2.14% | |
64 Neutral | HK$9.55B | 29.87 | 6.10% | ― | 15.91% | -37.62% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | HK$12.66B | 73.62 | 9.09% | 1.74% | 25.29% | 13.22% |
* Consumer Cyclical Sector Average
HK:1809
Prinx Chengshan Holdings Limited
7.15
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7.60%
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Prinx Chengshan Holdings Limited Corporate Events
Prinx Chengshan Publishes Unaudited Interim Results for First Half of 2026
Aug 18, 2026
Prinx Chengshan Holdings Limited has released its unaudited condensed consolidated interim results for the six months ended 30 June 2026. The interim report, which includes financial statements and management discussion and analysis, will be avail...
Prinx Chengshan Sets August Board Meeting to Approve Interim Results and Dividend Plan
Aug 6, 2026
Prinx Chengshan Holdings Limited has scheduled a board meeting for 18 August 2026 to review and approve the interim results for the six months ended 30 June 2026, and to authorise their publication. The board will also consider the declaration of ...
Prinx Chengshan Secures Major Loan for Malaysian Unit with Control Covenants
Aug 3, 2026
Prinx Chengshan Holdings’ Malaysian subsidiary has secured a five-year term loan facility totaling RMB 1.36 billion and US$15 million from a syndicate led by Bank of China (Hong Kong) and including several Chinese and international banks. Th...
Prinx Chengshan reshapes top leadership as CEO shifts to global strategy role
Jul 15, 2026
Prinx Chengshan Holdings Limited has announced a planned leadership reshuffle that separates strategic oversight from day-to-day operations. Current chief executive officer and executive director Che Baozhen will step down as CEO effective 1 Augus...
Prinx Chengshan Shareholders Approve All AGM Resolutions and HK$0.50 Dividend
Jun 22, 2026
Prinx Chengshan Holdings reported that all resolutions at its 22 June 2026 annual general meeting were passed by poll with overwhelming shareholder support. Investors approved the 2025 audited financial statements, reappointed PricewaterhouseCoope...
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.