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Ten Pao Group Holdings Limited
(1979)
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Rating:56Neutral
Price Target:
HK$1.50
▼(-30.88% Downside)
Action:Reiterated
Date:07/14/26
The score is held back primarily by weakened financial quality—especially the sharp drop in operating and free cash flow and the step-up in leverage—along with bearish technical positioning below major moving averages and negative momentum indicators. These are partly offset by attractive valuation (low P/E) and a high dividend yield.
Positive Factors
Established B2B power-products model
The company operates an established B2B manufacturing model serving brand owners and equipment manufacturers across consumer and industrial applications. This provides a clear commercial role in customers’ products and a platform for ongoing sales through specification-driven power-conversion demand.
Negative Factors
Revenue contraction and volatility
The 2025 revenue decline, following a choppy multi-year pattern, points to uneven demand and limited visibility in the company’s sales trajectory. Persistent top-line volatility can reduce operating leverage, make capacity planning harder, and constrain the durability of future earnings growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Established B2B power-products model
The company operates an established B2B manufacturing model serving brand owners and equipment manufacturers across consumer and industrial applications. This provides a clear commercial role in customers’ products and a platform for ongoing sales through specification-driven power-conversion demand.
Read all positive factors
Ten Pao Group Holdings Limited (1979) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.70B
Dividend Yield7.83%
Average Volume (3M)732.23K
Price to Earnings (P/E)6.3
Beta (1Y)0.83
Revenue Growth-9.99%
EPS Growth-34.08%
CountryHK
Employees8,000
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)0.37
Shares Outstanding1,035,216,800
10 Day Avg. Volume503,638
30 Day Avg. Volume732,228
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 | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 5.56B | 5.39B | 4.82B | 5.48B | 6.36B |
| Gross Profit | 1.01B | 1.05B | 907.20M | 841.93M | 1.01B |
| EBITDA | 537.89M | 554.37M | 567.51M | 520.78M | 595.25M |
| Net Income | 380.63M | 383.90M | 328.86M | 296.90M | 378.62M |
Balance Sheet | |||||
| Total Assets | 5.52B | 5.41B | 4.32B | 3.89B | 4.17B |
| Cash, Cash Equivalents and Short-Term Investments | 984.47M | 345.03M | 828.03M | 511.97M | 351.70M |
| Total Debt | 839.81M | 705.14M | 713.29M | 476.61M | 611.50M |
| Total Liabilities | 3.35B | 3.56B | 2.67B | 2.48B | 2.86B |
| Stockholders Equity | 2.18B | 1.86B | 1.66B | 1.41B | 1.30B |
Cash Flow | |||||
| Free Cash Flow | 19.23M | 420.91M | 177.02M | 359.69M | -326.76M |
| Operating Cash Flow | 353.41M | 813.65M | 484.70M | 595.93M | 245.16M |
| Investing Cash Flow | -385.73M | -358.76M | -294.97M | -230.02M | -607.42M |
| Financing Cash Flow | -12.18M | -276.43M | -377.27M | -191.03M | 220.38M |
Ten Pao Group Holdings Limited Technical Analysis
Negative
2.17
Price Trends
1.79
Negative
2.12
Negative
2.23
Negative
Market Momentum
-0.04
Positive
34.05
Neutral
23.14
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1979, the sentiment is Negative. The current price of 2.17 is above the 20-day moving average (MA) of 1.74, above the 50-day MA of 1.79, and below the 200-day MA of 2.23, indicating a bearish trend. The MACD of -0.04 indicates Positive momentum. The RSI at 34.05 is Neutral, neither overbought nor oversold. The STOCH value of 23.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
77 Outperform | HK$1.93T | 17.97 | 24.50% | 1.89% | 44.55% | ― | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
56 Neutral | HK$1.70B | 6.29 | 12.36% | 7.83% | -9.99% | -34.08% | |
53 Neutral | HK$1.32B | -9.13 | -2.82% | 11.96% | -44.15% | -130.35% | |
51 Neutral | HK$31.42B | 16.15 | 4.44% | ― | 79.77% | 149.08% | |
45 Neutral | HK$28.36M | -2.04 | -3.88% | ― | -2.14% | 23.66% | |
44 Neutral | HK$345.63M | -3.42 | -11.50% | ― | -7.44% | 56.28% |
* Industrials Sector Average
HK:1979
Ten Pao Group Holdings Limited
1.64
-0.61
-27.27%
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Ten Pao Group Holdings Limited Corporate Events
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 ...
Ten Pao Offers Final Dividend with Cash or Scrip Option for 2025
Jul 16, 2026
Ten Pao Group Holdings Limited has declared a final ordinary dividend of HKD 0.066 per share for the financial year ended 31 December 2025, with shareholders having the option to receive the payout in cash or in new scrip shares. The scrip shares ...
Ten Pao warns of up to 50% profit slump on cost pressures and RMB strength
Jul 10, 2026
Ten Pao Group Holdings Limited has warned shareholders and investors that profit attributable to owners for the six months ended 30 June 2026 is expected to fall by about 40% to 50% from HK$212 million a year earlier. Management attributes the sha...
Ten Pao Revamps Board Governance After Shareholders Back All AGM Resolutions
Jun 12, 2026
Ten Pao Group Holdings reported that all resolutions at its 2026 annual general meeting on June 12 were approved by shareholders, including adoption of the 2025 financial statements, a final dividend of HK6.6 cents per share, re-election of execut...
Ten Pao Reshapes Board and Committees to Strengthen Governance
Jun 12, 2026
Ten Pao Group Holdings Limited has updated its board structure effective 12 June 2026, confirming Hung Kwong Yee as executive director, chairman and chief executive officer, with Tse Chung Shing serving as executive director, company secretary and...
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.