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Tokyo Chuo Auction Holdings Ltd.
(1939)
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Rating:48Neutral
Price Target:
HK$0.76
â–¼(-30.09% Downside)
Action:Reiterated
Date:10/01/26
The score is held back primarily by persistent losses and sharply negative 2026 operating/free cash flow despite a strong revenue rebound. A low-leverage balance sheet provides financial flexibility, and technicals show an established uptrend, but overbought momentum signals add near-term risk. Valuation remains challenged due to negative earnings and no provided dividend yield.
Positive Factors
Revenue Rebound
Revenue growth of roughly 76% in 2026 shows that demand and transaction activity rebounded materially. If the auction platform retains that volume, higher throughput should broaden fee income and improve operating leverage, although profitability is not yet established.
Negative Factors
Persistent Net Losses
Four consecutive years of net losses indicate that the recent revenue rebound has not yet produced a sustainable earnings model. Continued losses can limit internally funded growth, weaken returns on capital, and make future performance dependent on a successful margin recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Rebound
Revenue growth of roughly 76% in 2026 shows that demand and transaction activity rebounded materially. If the auction platform retains that volume, higher throughput should broaden fee income and improve operating leverage, although profitability is not yet established.
Read all positive factors
Tokyo Chuo Auction Holdings Ltd. (1939) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$394.15M
Dividend Yield1.32%
Average Volume (3M)2.30M
Price to Earnings (P/E)―
Beta (1Y)0.92
Revenue Growth73.16%
EPS Growth-10.80%
CountryHK
Employees33
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Retail
Share Statistics
EPS (TTM)-0.04
Shares Outstanding511,880,000
10 Day Avg. Volume2,769,340
30 Day Avg. Volume2,298,180
Financial Highlights & Ratios
PEG Ratio-1.14
Price to Book (P/B)0.93
Price to Sales (P/S)2.49
P/FCF Ratio-4.89
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
Tokyo Chuo Auction Holdings Ltd. Business Overview & Revenue Model
Company Description
Shangshan Gold International Holdings Limited, an investment holding company, provides auction, artwork sales, and related services in Hong Kong and Japan. It offers auctions for Chinese and Japanese artworks, such as paintings and calligraphies, ...
How the Company Makes Money
The company’s earnings are primarily derived from its auction and market-operations activities, where it facilitates trades and collects fees tied to transaction activity. Key revenue streams typically include (1) commissions or handling fees char...
Tokyo Chuo Auction Holdings Ltd. Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
68
Positive
Cash Flow
38
Negative
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 107.44M | 62.05M | 57.85M | 72.76M | 79.60M |
| Gross Profit | 36.78M | 48.48M | 46.78M | 53.32M | 68.97M |
| EBITDA | -11.86M | -11.68M | -18.60M | -541.00K | 22.26M |
| Net Income | -21.77M | -19.46M | -26.89M | -8.29M | 8.43M |
Balance Sheet | |||||
| Total Assets | 449.77M | 394.96M | 396.64M | 466.00M | 581.08M |
| Cash, Cash Equivalents and Short-Term Investments | 100.26M | 76.46M | 69.05M | 67.28M | 108.70M |
| Total Debt | 34.72M | 43.80M | 52.25M | 53.44M | 68.99M |
| Total Liabilities | 159.59M | 170.38M | 157.69M | 202.91M | 297.06M |
| Stockholders Equity | 287.02M | 221.30M | 235.64M | 259.32M | 279.94M |
Cash Flow | |||||
| Free Cash Flow | -54.66M | 37.05M | -10.93M | -17.25M | -24.19M |
| Operating Cash Flow | -54.23M | 37.16M | -6.16M | -16.52M | -23.29M |
| Investing Cash Flow | 1.57M | 590.00K | -4.55M | -549.00K | 1.69M |
| Financing Cash Flow | 77.01M | -9.56M | -6.88M | -18.65M | -18.74M |
Tokyo Chuo Auction Holdings Ltd. Technical Analysis
Positive
1.09
Price Trends
0.47
Positive
0.52
Positive
0.66
Positive
Market Momentum
0.07
Negative
72.59
Negative
85.24
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1939, the sentiment is Positive. The current price of 1.09 is above the 20-day moving average (MA) of 0.54, above the 50-day MA of 0.47, and above the 200-day MA of 0.66, indicating a bullish trend. The MACD of 0.07 indicates Negative momentum. The RSI at 72.59 is Negative, neither overbought nor oversold. The STOCH value of 85.24 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1939.
Tokyo Chuo Auction Holdings Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | HK$1.42B | 6.20 | 31.59% | 3.15% | 31.51% | 22.05% | |
70 Outperform | HK$3.58B | 17.33 | 16.40% | 2.37% | 11.19% | 160.48% | |
65 Neutral | HK$391.80M | 23.17 | 6.22% | 3.80% | -2.26% | -17.43% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
48 Neutral | HK$394.15M | -16.94 | -8.54% | 1.32% | 73.16% | -10.80% | |
47 Neutral | HK$22.40B | 15.38 | 14.11% | 7.41% | 30.79% | -44.14% | |
41 Neutral | HK$758.47M | -0.08 | 21.77% | 3.96% | -28.44% | 42.64% |
* Consumer Cyclical Sector Average
HK:1939
Tokyo Chuo Auction Holdings Ltd.
0.73
-9.39
-92.79%
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0.01
>-0.01
-47.37%
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3.18
-2.84
-47.24%
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-24.47
-58.15%
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Sa Sa International Holdings Limited
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0.55
94.35%
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Yoho Group Holdings Ltd.
0.79
0.06
8.52%
Tokyo Chuo Auction Holdings Ltd. Corporate Events
Shangshan Gold International Updates Board and Committee Structure
Sep 30, 2026
Shangshan Gold International Holdings has updated its board composition, naming three executive directors, led by chairman Hou Xiang, alongside a broad slate of independent non-executive directors. The move underscores the company’s emphasis...
Shangshan Gold Sets Out Board and Committee Structure
Aug 31, 2026
Shangshan Gold International Holdings Limited has outlined the current composition of its board of directors, listing one executive director, one non-executive director and three independent non-executive directors. The executive director, Mr. Ton...
Shangshan Gold Director Zheng Haoran to Step Down in September 2026
Aug 31, 2026
Shangshan Gold International Holdings Limited, a Hong Kong-incorporated listed company, maintains a board composed of executive, non-executive and independent non-executive directors, consistent with local corporate governance norms. Its current l...
Shangshan Gold International Wins Full Shareholder Support at AGM
Aug 25, 2026
Shangshan Gold International Holdings Limited, a Hong Kong-incorporated listed company focused on gold-related investments and operating under stock code 1939, convened its annual general meeting with all directors attending either in person or el...
Shangshan Gold Sets August AGM to Approve Accounts and Share Issuance Mandate
Jul 30, 2026
Shangshan Gold International Holdings Limited, incorporated in Hong Kong and listed on the local bourse, operates as a publicly traded firm subject to regional listing and corporate governance standards. Its board structure and reliance on externa...
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.