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Mulsanne Group Holding Limited
(1817)
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Rating:69Neutral
Price Target:
HK$0.59
▲(97.00% Upside)
Action:Downgraded
Date:10/23/26
The score is driven primarily by strong technical momentum (price above all major moving averages and positive MACD). Financial performance is improving with stronger recent cash generation and reduced leverage, but the lack of sustained revenue growth and thin net margins cap the financial-quality score. Valuation appears reasonable on P/E, though the absence of dividend yield data limits confidence in shareholder yield support.
Positive Factors
Sustained profitability recovery
The company has moved from losses in 2020–2021 to consistent profitability through 2025, indicating a more resilient operating base. Gross margin near 50% provides a meaningful buffer for reinvestment and helps support earnings durability if revenue remains broadly stable.
Negative Factors
Persistent revenue contraction
Broadly flat-to-down revenue, culminating in a 6.9% decline in 2025, limits operating leverage and indicates that profitability improvement is not being driven by sustained demand expansion. Continued weak sales would constrain scale benefits and make future earnings more dependent on cost control.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained profitability recovery
The company has moved from losses in 2020–2021 to consistent profitability through 2025, indicating a more resilient operating base. Gross margin near 50% provides a meaningful buffer for reinvestment and helps support earnings durability if revenue remains broadly stable.
Read all positive factors
Mulsanne Group Holding Limited (1817) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$565.25M
Dividend YieldN/A
Average Volume (3M)341.92K
Price to Earnings (P/E)10.4
Beta (1Y)0.06
Revenue Growth-2.20%
EPS Growth40.79%
CountryHK
Employees386
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Retail
Share Statistics
EPS (TTM)0.05
Shares Outstanding950,000,000
10 Day Avg. Volume367,400
30 Day Avg. Volume341,916
Financial Highlights & Ratios
PEG Ratio3.35
Price to Book (P/B)0.32
Price to Sales (P/S)0.12
P/FCF Ratio1.07
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
Mulsanne Group Holding Limited Business Overview & Revenue Model
Company Description
Mulsanne Group Holding Limited functions as an investment holding company, primarily involved in the creation, promotion, and sale of clothing for men, women, and children throughout Mainland China and Macau. Its product range also encompasses spo...
How the Company Makes Money
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Mulsanne Group Holding Limited Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
55
Neutral
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.02B | 2.06B | 2.27B | 2.33B | 2.33B | 2.70B |
| Gross Profit | 1.06B | 1.05B | 1.20B | 1.21B | 1.14B | 1.33B |
| EBITDA | 242.71M | 237.05M | 245.87M | 299.51M | 229.73M | 139.85M |
| Net Income | 44.26M | 31.62M | 30.95M | 39.57M | 12.43M | -89.68M |
Balance Sheet | ||||||
| Total Assets | 1.88B | 1.95B | 2.61B | 3.01B | 3.52B | 3.02B |
| Cash, Cash Equivalents and Short-Term Investments | 240.14M | 203.90M | 186.89M | 192.42M | 252.19M | 677.23M |
| Total Debt | 540.92M | 680.84M | 1.12B | 1.45B | 1.97B | 1.30B |
| Total Liabilities | 1.09B | 1.18B | 1.88B | 2.30B | 2.83B | 2.28B |
| Stockholders Equity | 790.31M | 769.47M | 735.49M | 710.80M | 684.40M | 733.32M |
Cash Flow | ||||||
| Free Cash Flow | 436.13M | 232.82M | 38.85M | 212.00M | 130.62M | 28.05M |
| Operating Cash Flow | 499.39M | 320.21M | 171.68M | 297.78M | 244.71M | 177.73M |
| Investing Cash Flow | -62.93M | -86.78M | -106.38M | -114.11M | -126.09M | -169.15M |
| Financing Cash Flow | -439.93M | -237.66M | -69.03M | -242.27M | -563.79M | -97.40M |
Mulsanne Group Holding Limited Technical Analysis
Positive
0.30
Price Trends
0.38
Positive
0.31
Positive
0.29
Positive
Market Momentum
0.06
Positive
59.60
Neutral
57.04
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1817, the sentiment is Positive. The current price of 0.3 is below the 20-day moving average (MA) of 0.55, below the 50-day MA of 0.38, and above the 200-day MA of 0.29, indicating a bullish trend. The MACD of 0.06 indicates Positive momentum. The RSI at 59.60 is Neutral, neither overbought nor oversold. The STOCH value of 57.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1817.
Mulsanne Group Holding Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | HK$2.01B | 9.87 | 10.15% | 10.52% | -2.94% | -6.03% | |
69 Neutral | HK$565.25M | 10.43 | 5.68% | ― | -2.20% | 40.79% | |
65 Neutral | HK$268.00M | 3.05 | 37.98% | 4.10% | -7.53% | ― | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | HK$172.50M | -4.61 | -9.78% | 9.62% | -9.42% | -58.91% | |
53 Neutral | HK$63.19M | -20.72 | -1.77% | 34.82% | -8.90% | -126.10% | |
48 Neutral | HK$113.23M | -1.03 | -104.84% | 0.72% | ― | ― |
* Consumer Cyclical Sector Average
HK:1817
Mulsanne Group Holding Limited
0.60
0.24
65.28%
HK:0330
Esprit Holdings
0.40
-0.89
-68.99%
HK:0709
Giordano International
1.25
-0.11
-8.32%
HK:2528
Forward Fashion (International) Holdings Company Limited
0.67
0.41
157.69%
HK:0375
YGM Trading Limited
1.04
0.13
13.66%
HK:0483
Bauhaus International (Holdings) Ltd.
0.17
-0.14
-44.52%
Mulsanne Group Holding Limited Corporate Events
Mulsanne Group Lifts Profit and Cash Flow on Margin Gains and Cost Controls
Aug 26, 2026
Mulsanne Group Holding Limited reported that for the six months ended 30 June 2026, gross profit rose 3.7% year on year to approximately RMB537.0 million and gross margin improved to 56.6%, driven by lower discounting, an optimized product mix and...
Mulsanne Group Flags Triple-Digit Profit Growth on Marketing Overhaul
Aug 14, 2026
Mulsanne Group Holding Limited has issued a positive profit alert, indicating that unaudited net profit for the six months ended 30 June 2026 is expected to range from RMB18.0 million to RMB25.0 million. This would represent an increase of approxi...
Mulsanne Group Sets August Board Meeting to Review Interim Results and Possible Dividend
Aug 14, 2026
Mulsanne Group Holding Limited has scheduled a board meeting for 26 August 2026 to review and approve the group’s interim results for the six months ended 30 June 2026 and to decide on the publication of those results. The board will also co...
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.