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Hands Form Holdings Limited
(1920)
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Rating:43Neutral
Price Target:
HK$0.39
▼(-2.25% Downside)
Action:Reiterated
Date:07/23/26
The score is held down primarily by weak financial performance (still unprofitable and reduced equity despite better 2025 margins and cash flow) and bearish technicals (below major moving averages with negative MACD). Valuation provides limited support given the negative P/E and no dividend yield data.
Positive Factors
Improved cash generation
The 2025 shift to positive operating and free cash flow is a meaningful improvement in internal funding capacity. If maintained, it can reduce reliance on external capital and support operations, although historical volatility means durability still needs to be demonstrated.
Negative Factors
Persistent unprofitability
Ongoing operating and net losses show that improved gross margin has not yet translated into a profitable business model. Persistent unprofitability can consume the equity base, constrain reinvestment, and make future performance dependent on further execution improvements.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved cash generation
The 2025 shift to positive operating and free cash flow is a meaningful improvement in internal funding capacity. If maintained, it can reduce reliance on external capital and support operations, although historical volatility means durability still needs to be demonstrated.
Read all positive factors
Hands Form Holdings Limited (1920) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$237.98M
Dividend YieldN/A
Average Volume (3M)439.86K
Price to Earnings (P/E)―
Beta (1Y)0.32
Revenue Growth2.34%
EPS Growth-28.82%
CountryHK
Employees260
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)-0.03
Shares Outstanding587,600,000
10 Day Avg. Volume364,700
30 Day Avg. Volume439,856
Financial Highlights & Ratios
PEG Ratio0.18
Price to Book (P/B)7.67
Price to Sales (P/S)1.14
P/FCF Ratio13.70
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
Hands Form Holdings Limited Business Overview & Revenue Model
Company Description
Hands Form Holdings Limited, functioning as an investment holding enterprise, operates as a specialized subcontractor within Hong Kong's construction industry. The company primarily focuses on "wet trades," encompassing crucial building activities...
Hands Form Holdings Limited Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
38
Negative
Cash Flow
45
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 124.94M | 109.95M | 86.70M | 122.52M | 117.46M |
| Gross Profit | 9.61M | -12.88M | -21.49M | -28.63M | -63.46M |
| EBITDA | -9.90M | -40.66M | -48.63M | -53.79M | -81.00M |
| Net Income | -10.09M | -43.34M | -51.62M | -56.20M | -83.19M |
Balance Sheet | |||||
| Total Assets | 62.80M | 42.26M | 71.76M | 123.94M | 191.25M |
| Cash, Cash Equivalents and Short-Term Investments | 31.12M | 10.54M | 18.60M | 14.01M | 9.56M |
| Total Debt | 8.09M | 5.31M | 9.62M | 9.70M | 16.28M |
| Total Liabilities | 48.60M | 32.43M | 18.59M | 19.15M | 45.63M |
| Stockholders Equity | 18.65M | 9.83M | 53.17M | 104.79M | 145.62M |
Cash Flow | |||||
| Free Cash Flow | 10.44M | -3.55M | -197.00K | -13.15M | 8.50M |
| Operating Cash Flow | 12.58M | -3.55M | -197.00K | -5.40M | 8.50M |
| Investing Cash Flow | -2.14M | 16.00K | 5.21M | 1.32M | -3.00M |
| Financing Cash Flow | 9.55M | -4.53M | -414.00K | 8.52M | -1.88M |
Hands Form Holdings Limited Technical Analysis
Negative
0.40
Price Trends
0.46
Negative
0.61
Negative
0.64
Negative
Market Momentum
-0.02
Negative
42.13
Neutral
60.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1920, the sentiment is Negative. The current price of 0.4 is below the 20-day moving average (MA) of 0.41, below the 50-day MA of 0.46, and below the 200-day MA of 0.64, indicating a bearish trend. The MACD of -0.02 indicates Negative momentum. The RSI at 42.13 is Neutral, neither overbought nor oversold. The STOCH value of 60.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1920.
Hands Form Holdings Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | HK$1.79B | 3.91 | 15.72% | 11.22% | -12.79% | -0.62% | |
70 Outperform | HK$950.00M | 3.30 | 15.75% | 6.32% | 15.16% | 25.81% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
57 Neutral | HK$1.19B | -4,084.53 | -0.11% | 1.67% | -2.02% | -101.97% | |
55 Neutral | HK$456.56M | 38.46 | 3.68% | 7.94% | 4.28% | 25.30% | |
43 Neutral | HK$237.98M | -15.11 | -47.14% | ― | 2.34% | -28.82% | |
42 Neutral | HK$1.03B | -14.68 | -101.13% | ― | 12.98% | 19.18% |
* Industrials Sector Average
HK:1920
Hands Form Holdings Limited
0.41
-0.04
-10.00%
HK:0240
Build King Holdings
1.45
0.25
20.92%
HK:1627
Able Engineering Holdings Ltd.
0.48
-0.15
-24.48%
HK:1726
HKE Holdings Limited
0.90
-0.58
-39.19%
HK:1903
JBB Builders International Ltd.
2.38
0.98
69.64%
HK:2262
Steve Leung Design Group Limited
0.40
-0.77
-65.81%
Hands Form Holdings Limited Corporate Events
Junwea Group Swings to Interim Loss Despite Revenue Growth
Aug 31, 2026
Junwea Group (China) Company Limited reported unaudited interim results for the six months ended 30 June 2026, showing revenue rising to HK$79.9 million from HK$65.1 million year-on-year. Despite the top-line growth, gross profit fell sharply to H...
Junwea Group Sets Board Meeting to Approve Interim Results and Consider Dividend
Aug 12, 2026
Junwea Group (China) Company Limited has scheduled a board meeting for 31 August 2026 to review and approve the interim results for the six months ended 30 June 2026, along with their publication. The board will also consider whether to declare an...
Junwea Group details 2025 share option grants and rationale
Aug 6, 2026
Junwea Group (China) Company Limited has disclosed additional details about its share option scheme for the year ended 31 December 2025, noting that options granted across all schemes represented about 7.54% of the weighted average number of share...
Junwea Group Wins Full Shareholder Backing at 2026 AGM
Jun 29, 2026
Junwea Group (China) Company Limited reported that all resolutions at its 29 June 2026 annual general meeting were approved by poll, including adoption of the audited consolidated financial statements for the year ended 31 December 2025. Sharehold...
Junwea Group Raises HK$32.5 Million Through Share Placement for New Projects
Jun 26, 2026
Junwea Group (China) Company Limited has completed a placement of 74.88 million new shares under its general mandate at HK$0.441 per share, expanding its share capital to 587.6 million shares. The new shares, representing about 12.74% of the enlar...
Junwea Group Clarifies Licensing Status of Placing Agent for New Share Offering
Jun 17, 2026
Junwea Group (China) Company Limited issued a clarification regarding its previously announced placing of new shares, confirming that Yellow River Securities Limited, the appointed placing agent, is licensed to conduct Type 1 regulated activity (d...
Junwea Group Corrects Share Placing Terms, Targets HK$32.5 Million for Projects
Jun 16, 2026
Junwea Group (China) Company Limited, a Cayman-incorporated construction and engineering services provider listed in Hong Kong, derives a significant portion of its business from wet-trade projects and related building works in the region. The com...
Junwea Group Requests Trading Halt Pending Clarification Announcement
Jun 16, 2026
Junwea Group (China) Company Limited, a Cayman-incorporated company listed in Hong Kong under stock code 1920, has recently rebranded from its former name, China Wacan Group Company Limited. The company’s board is led by chairman and executi...
Junwea Group Plans Discounted Share Placing to Fund New Wet-Trade Projects
Jun 15, 2026
Junwea Group (China) Company Limited has entered into a placing agreement with a placing agent to issue up to 74,880,000 new shares under its existing general mandate, representing about 14.60% of its current issued share capital. The new shares w...
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.