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Bonny International Holding Ltd. (1906) AI Stock Analysis
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Bonny International Holding Ltd.
(HKEX:1906)
The overall score is constrained primarily by deepening net losses, rising leverage, and weak free cash flow despite stable gross margins, while technical indicators show a sharp but overheated rally with overbought momentum and the valuation is anchored by a negative P/E and lack of dividends, leaving the stock positioned as a high-risk, turnaround-dependent investment.
Bonny International Holding Ltd. (1906) vs. iShares MSCI Hong Kong ETF (EWH)
- Market Cap
- HKD 2.01B
- Dividend Yield
- ―
- Average Volume (3M)
- 8.33M
- Price to Earnings (P/E)
- -35.3
- Beta (1Y)
- -0.73
- Revenue Growth
- -7.89%
- EPS Growth
- -99.44%
- Country
- Hong Kong
- Employees
- 563
- Sector
- Consumer Cyclical
- Sector Strength
- 61
- Industry
- Apparel - Manufacturers
Bonny International Holding Ltd. Business Overview & Revenue Model
Company Description
As an investment holding company, Bonny International Holding Limited specializes in the production and sale of intimate apparel. Its operations are divided into two main divisions: Original Design Manufacture (ODM) and proprietary Brand Products. Th...
How the Company Makes Money
Bonny International Holding Ltd. generates revenue primarily by selling personal care and toiletry products. Key revenue streams typically include: (1) branded product sales, where the company sells finished goods under its own brand(s) through distr...
Bonny International Holding Ltd. Financial Statement Overview
Summary
Revenue has recovered from 2022 lows but declined 5.5% in 2025, gross margins are stable around 29%, yet net margin deteriorated to a -24.5% loss, debt-to-equity has risen from 0.36 to 0.77, ROE is deeply negative at -18.6%, and free cash flow remains negative despite slightly positive operating cash flow, indicating weak profitability, rising leverage risk, and ongoing cash burn.
Income Statement
25NegativeBalance Sheet
55NeutralCash Flow
35Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 213.18M | 231.84M | 266.74M | 177.67M | 160.91M | 248.78M |
| Gross Profit | 61.26M | 67.17M | 78.86M | 41.67M | 31.64M | 65.66M |
| EBITDA | -2.73M | -5.31M | 21.07M | -17.93M | -49.10M | -25.10M |
| Net Income | -48.09M | -56.79M | -16.73M | -45.27M | -70.94M | -6.55M |
Balance Sheet | ||||||
| Total Assets | 358.15M | 623.27M | 644.80M | 588.08M | 571.50M | 593.73M |
| Cash, Cash Equivalents and Short-Term Investments | 37.00M | 21.05M | 14.15M | 3.65M | 10.73M | 12.76M |
| Total Debt | 3.23M | 227.57M | 172.71M | 133.59M | 144.24M | 144.79M |
| Total Liabilities | 49.78M | 325.15M | 289.27M | 275.40M | 281.56M | 248.00M |
| Stockholders Equity | 308.31M | 297.00M | 354.41M | 311.55M | 288.88M | 344.66M |
Cash Flow | ||||||
| Free Cash Flow | -33.52M | -26.89M | -56.57M | -6.73M | -7.32M | -52.63M |
| Operating Cash Flow | -27.55M | 31.13M | 5.21M | 9.56M | 28.89M | 27.27M |
| Investing Cash Flow | 6.15M | -57.68M | -57.63M | -10.10M | -36.37M | -71.88M |
| Financing Cash Flow | 41.32M | 39.34M | 56.42M | -2.29M | 5.11M | 5.06M |
Bonny International Holding Ltd. Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1906, the sentiment is Positive. The current price of 1.36 is below the 20-day moving average (MA) of 1.43, above the 50-day MA of 1.10, and above the 200-day MA of 0.67, indicating a neutral trend. The MACD of 0.08 indicates Positive momentum. The RSI at 52.61 is Neutral, neither overbought nor oversold. The STOCH value of 69.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1906.
Bonny International Holding Ltd. Peers Comparison
Overall Rating
HK:223280.2Outperform
HK:198266Neutral
HK:219961Neutral
HK:229860Neutral- HK:190645.57Neutral
HK:266839Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| HK:2232 | 80Outperform | HKD 21.97B | 11.88 | 14.47% | 5.52% | 4.21% | 9.77% |
| HK:1982 | 66Neutral | HKD 1.64B | 5.35 | 11.98% | 17.36% | 6.23% | -12.18% |
| Sector * | 61Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% |
| HK:2199 | 61Neutral | HKD 3.14B | 11.15 | 9.33% | 6.24% | -1.56% | 53.99% |
| HK:2298 | 60Neutral | HKD 559.32M | 3.81 | 5.83% | 6.27% | -1.84% | 29.22% |
| HK:1906 | 46Neutral | HKD 2.01B | -35.35 | -15.89% | ― | -7.89% | -99.44% |
| HK:2668 | 39Underperform | HKD 2.05B | -7.88 | -95.81% | ― | -32.93% | 37.03% |
* Consumer Cyclical Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| HK:1906 | Bonny International Holding Ltd. | 1.36 | 0.85 | 167.65% | |
| HK:2668 | Pak Tak International Limited | 0.36 | 0.21 | 143.33% | |
| HK:1982 | Nameson Holdings Ltd. | 0.72 | -0.08 | -10.00% | |
| HK:2199 | Regina Miracle International (Holdings) Limited | 2.56 | 0.67 | 35.57% | |
| HK:2232 | Crystal International Group Limited | 7.70 | 1.26 | 19.64% | |
| HK:2298 | Cosmo Lady (China) Holdings Co. Ltd. | 0.26 | -0.08 | -23.65% |
Bonny International Holding Ltd. Corporate Events
Bonny International Details Use of Rights Issue Proceeds and Equipment Spending Plan
Bonny International Holding Ltd. has provided supplemental disclosure on how it used the HK$65 million in net proceeds raised from a 2024 rights issue, confirming that funds were deployed in line with earlier plans for general working capital, equipm...
Bonny International Adjusts Secretarial Team Under HKEX Waiver
Bonny International Holding Ltd. has reshuffled its corporate secretarial team, with executive director Zhao Hui stepping down as joint company secretary to focus on operations and management. He remains on the board, and the company notes there is n...
Bonny International Swings to Stronger Interim Profit Despite Revenue Decline
Bonny International Holding reported unaudited revenue of RMB97.4 million for the six months ended 30 June 2026, down from RMB116.2 million a year earlier, reflecting softer top-line performance. Despite the revenue decline, the group’s gross p...
Bonny International Flags Connected Balances After Disposal of Hongkong Bonny Unit
Bonny International Holding Ltd. has disclosed that, following the June 30, 2026 completion of its disposal of Hongkong Bonny Limited to Hong Kong Bo De Trade Co., Limited, the Bonny HK Group ceased to be its subsidiary and became a connected party u...
Bonny International Sets August Board Meeting to Approve Interim Results
Bonny International Holding Limited has scheduled a board meeting for 27 August 2026 to review and approve the interim results for the six months ended 30 June 2026. The board will also consider the declaration and payment of an interim dividend, sig...
Bonny International Flags Disposal-Driven Profit Amid Core Business Weakness
Bonny International Holding expects to report a net profit attributable to shareholders of about RMB8 million to RMB10 million for the first half of 2026, up sharply from roughly RMB1.2 million a year earlier, largely due to a RMB14 million to RMB16...
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.
Date of analysis: Sep 29, 2026