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Ten Pao Group Holdings Limited
(1979)
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Rating:55Neutral
Price Target:
HK$1.50
▼(-30.88% Downside)
Action:Reiterated
Date:10/14/26
The score is held back mainly by deteriorating cash flow (sharp drop in operating cash flow and near-collapse in free cash flow) alongside rising leverage and softening margins/revenue. Technicals also point to a sustained downtrend with weak momentum. These negatives are partially offset by attractive valuation (low P/E) and a high dividend yield.
Positive Factors
Established B2B Product Model
The company operates a defined B2B manufacturing model with products embedded in consumer and industrial equipment. Supplying brand owners and OEMs/ODMs gives Ten Pao a clear route to market and positions its engineering and production capabilities within established equipment supply chains.
Negative Factors
Revenue Contraction
The revenue decline and uneven multi-year pattern point to demand volatility and limited visibility on sustained top-line expansion. Prolonged weak sales would reduce operating leverage, constrain investment capacity, and make consistent earnings growth more difficult over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Established B2B Product Model
The company operates a defined B2B manufacturing model with products embedded in consumer and industrial equipment. Supplying brand owners and OEMs/ODMs gives Ten Pao a clear route to market and positions its engineering and production capabilities within established equipment supply chains.
Read all positive factors
Ten Pao Group Holdings Limited (1979) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.52B
Dividend Yield7.35%
Average Volume (3M)210.87K
Price to Earnings (P/E)5.7
Beta (1Y)0.93
Revenue Growth-9.99%
EPS Growth-34.08%
CountryHK
Employees8,000
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)0.26
Shares Outstanding1,035,216,800
10 Day Avg. Volume232,200
30 Day Avg. Volume210,866
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)1.02
Price to Sales (P/S)0.40
P/FCF Ratio115.19
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)0.5
Revenue Forecast (FY)HK$6.84B
Ten Pao Group Holdings Limited Business Overview & Revenue Model
Company Description
Ten Pao Group Holdings Limited functions as an investment holding company, specializing in the global design, manufacturing, and sale of electrical charging solutions. Its extensive market presence spans mainland China, other Asian countries, the ...
How the Company Makes Money
Ten Pao Group Holdings Limited generates revenue primarily from the sale of power conversion products—most notably switch-mode power supplies (SMPS)—to customers such as brand owners and original equipment manufacturers (OEMs)/original design manu...
Ten Pao Group Holdings Limited Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
58
Neutral
Cash Flow
35
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.28B | 5.56B | 5.39B | 4.82B | 5.48B | 6.36B |
| Gross Profit | 914.95M | 1.01B | 1.05B | 907.20M | 841.93M | 1.01B |
| EBITDA | 476.75M | 562.74M | 557.35M | 567.51M | 520.78M | 595.25M |
| Net Income | 276.69M | 380.63M | 383.90M | 328.86M | 296.90M | 378.62M |
Balance Sheet | ||||||
| Total Assets | 5.96B | 5.52B | 5.41B | 4.32B | 3.89B | 4.17B |
| Cash, Cash Equivalents and Short-Term Investments | 544.68M | 984.47M | 345.03M | 828.03M | 511.97M | 351.70M |
| Total Debt | 1.01B | 839.81M | 705.14M | 713.29M | 476.61M | 611.50M |
| Total Liabilities | 3.66B | 3.35B | 3.56B | 2.67B | 2.48B | 2.86B |
| Stockholders Equity | 2.30B | 2.18B | 1.86B | 1.66B | 1.41B | 1.30B |
Cash Flow | ||||||
| Free Cash Flow | -520.38M | 19.23M | 420.91M | 177.02M | 359.69M | -326.76M |
| Operating Cash Flow | -282.44M | 353.41M | 813.65M | 484.70M | 595.93M | 245.16M |
| Investing Cash Flow | -241.58M | -385.73M | -358.76M | -294.97M | -230.02M | -607.42M |
| Financing Cash Flow | 171.14M | -12.18M | -276.43M | -377.27M | -191.03M | 220.38M |
Ten Pao Group Holdings Limited Technical Analysis
Neutral
2.17
Price Trends
1.52
Negative
1.70
Negative
2.07
Negative
Market Momentum
-0.02
Negative
53.16
Neutral
74.74
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1979, the sentiment is Neutral. The current price of 2.17 is above the 20-day moving average (MA) of 1.42, above the 50-day MA of 1.52, and above the 200-day MA of 2.07, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 53.16 is Neutral, neither overbought nor oversold. The STOCH value of 74.74 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:1979.
Ten Pao Group Holdings Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | HK$1.29T | 12.12 | 24.02% | 1.69% | 58.67% | 40.21% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
55 Neutral | HK$1.52B | 5.65 | 12.36% | 7.35% | -9.99% | -34.08% | |
51 Neutral | HK$25.99B | 10.13 | 5.27% | 0.00% | 79.77% | 149.08% | |
48 Neutral | HK$995.99M | -6.95 | -2.78% | 2.59% | -44.15% | -130.35% | |
45 Neutral | HK$40.83M | -1.82 | -3.88% | ― | -2.14% | 23.66% | |
44 Neutral | HK$298.50M | -2.89 | -11.50% | ― | -7.44% | 56.28% |
* Industrials Sector Average
HK:1979
Ten Pao Group Holdings Limited
1.47
-0.67
-31.44%
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Ten Pao Group Holdings Limited Corporate Events
Ten Pao Updates Interim Dividend and Scrip Option Details
Oct 14, 2026
Ten Pao Group Holdings Limited has updated details of its interim dividend for the six months ended 30 June 2026, confirming an ordinary cash dividend of HKD 0.042 per share for the financial year ending 31 December 2026. Shareholders may elect to...
Ten Pao’s Interim Profit Drops Sharply as Revenue and Margins Weaken
Aug 28, 2026
Ten Pao Group Holdings Limited, a Hong Kong-listed power supply and electronics manufacturer with a global customer base, produces a range of power supply solutions for industrial and OEM clients. The company operates through various subsidiaries,...
Ten Pao Declares Interim Dividend with Scrip Option for First Half of 2026
Aug 28, 2026
Ten Pao Group Holdings Limited has declared an interim ordinary dividend of HKD 0.042 per share for the six months ended 30 June 2026, for the financial year ending 31 December 2026. Shareholders will receive the dividend in cash by default, with ...
Ten Pao Group Schedules Board Meeting on Interim Results and Dividend
Aug 18, 2026
Ten Pao Group Holdings Limited, a Cayman Islands-incorporated issuer listed in Hong Kong under stock code 1979, operates with a governance structure that includes three executive directors and four independent non-executive directors. The company ...
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.