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Hands Form Holdings Limited
(1920)
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Rating:42Neutral
Price Target:
HK$0.31
▼(-23.25% Downside)
Action:Reiterated
Date:10/09/26
Overall score is weighed down primarily by weak financial quality (still unprofitable, uneven revenue, and a reduced equity cushion) despite improved 2025 margins and cash flow. Technicals remain bearish with the stock below all major moving averages and negative MACD, while valuation is constrained by negative earnings and no dividend yield data.
Positive Factors
Improved Gross Margin
The return to positive gross margin indicates meaningful operational improvement after several years of deeply negative margins. If maintained, better project economics could support further loss reduction, strengthen cash generation, and improve the foundation for eventual sustainable profitability.
Negative Factors
Persistent Losses and Uneven Revenue
The combination of another revenue decline and a still-negative net margin shows that the business has not yet achieved consistent growth or profitability. Uneven demand and ongoing losses can limit reinvestment capacity and make future earnings improvement dependent on continued operational recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Gross Margin
The return to positive gross margin indicates meaningful operational improvement after several years of deeply negative margins. If maintained, better project economics could support further loss reduction, strengthen cash generation, and improve the foundation for eventual sustainable profitability.
Read all positive factors
Hands Form Holdings Limited (1920) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$202.72M
Dividend YieldN/A
Average Volume (3M)371.03K
Price to Earnings (P/E)―
Beta (1Y)0.54
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. Volume184,000
30 Day Avg. Volume371,033
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 | -41.38M | -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
0.40
Negative
0.49
Negative
0.63
Negative
Market Momentum
-0.02
Positive
28.86
Positive
20.11
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 above the 20-day moving average (MA) of 0.37, above the 50-day MA of 0.40, and below the 200-day MA of 0.63, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 28.86 is Positive, neither overbought nor oversold. The STOCH value of 20.11 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$1.68B | 3.65 | 15.72% | 12.55% | -12.79% | -0.62% | |
71 Outperform | HK$740.00M | 2.57 | 15.75% | 8.11% | 15.16% | 25.81% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
57 Neutral | HK$1.00B | -928.56 | -0.44% | 1.67% | 4.76% | -144.68% | |
55 Neutral | HK$433.73M | 36.54 | 3.68% | 7.94% | 4.28% | 25.30% | |
42 Neutral | HK$202.72M | -11.85 | -49.56% | ― | 2.34% | -28.82% | |
42 Neutral | HK$296.85M | -3.75 | -110.87% | ― | -11.41% | 9.14% |
* Industrials Sector Average
HK:1920
Hands Form Holdings Limited
0.32
-0.12
-27.27%
HK:0240
Build King Holdings
1.35
0.13
10.29%
HK:1627
Able Engineering Holdings Ltd.
0.37
-0.30
-44.53%
HK:1726
HKE Holdings Limited
0.26
-1.17
-82.04%
HK:1903
JBB Builders International Ltd.
1.96
0.17
9.50%
HK:2262
Steve Leung Design Group Limited
0.38
-0.66
-63.46%
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...
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.