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Asiaray Media Group Ltd. (1993) AI Stock Analysis
Asiaray Media Group Ltd.
(HKEX:1993)
The score is held down primarily by a highly leveraged balance sheet with negative equity and a multi-year revenue decline, despite a return to small profitability. Consistently positive and improving free cash flow provides meaningful support, while technical signals are mixed and valuation (P/E ~24) is not especially attractive given the financial risks.
Asiaray Media Group Ltd. (1993) vs. iShares MSCI Hong Kong ETF (EWH)
- Market Cap
- HKD 205.61M
- Dividend Yield
- ―
- Average Volume (3M)
- 29.82K
- Price to Earnings (P/E)
- 19.5
- Beta (1Y)
- 0.36
- Revenue Growth
- 1.67%
- EPS Growth
- ―
- Country
- Hong Kong
- Employees
- 465
- Sector
- Communication Services
- Sector Strength
- 60
- Industry
- Advertising Agencies
Asiaray Media Group Ltd. Business Overview & Revenue Model
Company Description
Asiaray Media Group Limited functions as an investment holding company, serving as a leading out-of-home (OOH) media provider throughout Mainland China, Hong Kong, Macau, and Southeast Asia. Its operations are segmented into Airports Business, Metro...
How the Company Makes Money
Asiaray Media Group Ltd. primarily makes money by selling out-of-home advertising inventory across its portfolio of media assets. Key revenue streams typically include: (1) media resource/space rental or placement fees paid by advertisers (or their a...
Asiaray Media Group Ltd. Financial Statement Overview
Summary
Cash flow is the main strength with consistently positive operating/free cash flow and strong 2025 FCF growth. However, the balance sheet is highly stressed (negative equity in 2025 and very high leverage), and the income statement remains weak with multi-year revenue decline and only a modest return to profitability in 2025.
Income Statement
48NeutralBalance Sheet
18Very NegativeCash Flow
72Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 888.43M | 892.42M | 1.07B | 1.61B | 1.87B | 2.29B |
| Gross Profit | 328.77M | 292.68M | 306.52M | 351.86M | 304.62M | 420.37M |
| EBITDA | 327.11M | 326.43M | 403.59M | 862.51M | 973.78M | 1.27B |
| Net Income | 20.22M | 12.96M | -51.79M | -19.70M | -127.50M | -176.26M |
Balance Sheet | ||||||
| Total Assets | 1.47B | 1.62B | 2.05B | 2.88B | 3.15B | 6.67B |
| Cash, Cash Equivalents and Short-Term Investments | 171.87M | 200.40M | 215.20M | 368.13M | 333.32M | 386.04M |
| Total Debt | 741.33M | 1.12B | 1.36B | 2.29B | 2.43B | 5.69B |
| Total Liabilities | 1.19B | 1.59B | 1.79B | 2.63B | 2.88B | 6.21B |
| Stockholders Equity | 80.21M | -165.32M | 77.34M | 126.67M | -100.32M | 324.47M |
Cash Flow | ||||||
| Free Cash Flow | 406.80M | 408.78M | 564.02M | 724.53M | 749.87M | 967.47M |
| Operating Cash Flow | 414.35M | 418.25M | 605.04M | 675.87M | 801.52M | 1.04B |
| Investing Cash Flow | -12.04M | -10.66M | -31.86M | -11.77M | -91.50M | -67.29M |
| Financing Cash Flow | -418.08M | -433.03M | -726.71M | -634.29M | -700.22M | -968.26M |
Asiaray Media Group Ltd. Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1993, the sentiment is Negative. The current price of 0.43 is below the 20-day moving average (MA) of 0.43, below the 50-day MA of 0.47, and below the 200-day MA of 0.56, indicating a bearish trend. The MACD of -0.01 indicates Negative momentum. The RSI at 45.82 is Neutral, neither overbought nor oversold. The STOCH value of 69.29 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1993.
Asiaray Media Group Ltd. Peers Comparison
Overall Rating
HK:075272Outperform
HK:186072Outperform- HK:199346Neutral
HK:020544Neutral
HK:171644Neutral
HK:242240Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| HK:0752 | 72Outperform | HKD 2.57B | 5.91 | 16.67% | 9.45% | 3.40% | 12.68% |
| HK:1860 | 72Outperform | HKD 15.38B | 23.53 | 23.78% | ― | 25.61% | 95.27% |
| Sector * | 60Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% |
| HK:1993 | 46Neutral | HKD 205.61M | 19.51 | -47.52% | ― | 1.67% | ― |
| HK:0205 | 44Neutral | HKD 500.49M | 100.00 | 1.73% | ― | 885.14% | ― |
| HK:1716 | 44Neutral | HKD 761.40M | 470.00 | 3.06% | ― | -1.69% | -73.57% |
| HK:2422 | 40Underperform | HKD 3.49B | -61.40 | -15.14% | ― | 95.63% | 20.22% |
* Communication Services Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| HK:1993 | Asiaray Media Group Ltd. | 0.43 | -0.27 | -38.57% | |
| HK:0752 | Pico Far East Holdings | 2.01 | -0.43 | -17.69% | |
| HK:1716 | Most Kwai Chung Ltd. | 2.82 | 2.31 | 452.94% | |
| HK:1860 | Mobvista, Inc. | 9.10 | -9.82 | -51.90% | |
| HK:0205 | SEEC Media Group Limited | 0.40 | 0.08 | 25.00% | |
| HK:2422 | Rego Interactive Co., Ltd. | 2.12 | 1.52 | 253.33% |
Asiaray Media Group Ltd. Corporate Events
Asiaray Wins Major Airport Advertising Concession at Haikou Meilan
Asiaray Media Group’s subsidiary Shanghai Asiaray has secured a major concession to operate advertising and media resources at Haikou Meilan International Airport. The agreement, signed with Sino-Singapore (Hainan) on 29 October 2026, grants ex...
Asiaray Improves Profitability for Shareholders Despite Lower Interim Revenue
Asiaray Media Group Limited reported unaudited interim results for the six months ended 30 June 2026, showing revenue of RMB402.1 million, down slightly from RMB422.0 million a year earlier, but with gross profit rising to RMB145.6 million from RMB11...
Asiaray Media Overhauls Key Governance Roles With New Company Secretary
Asiaray Media Group Limited, a Hong Kong-listed media and advertising company providing out-of-home media solutions, operates under the city’s listing and corporate governance framework to serve regional advertisers and brand owners. Its board...
Asiaray Schedules Board Meeting to Approve 2026 Interim Results and Dividend
Asiaray Media Group Limited has scheduled a board meeting for 27 August 2026 to review and approve the interim results for the six months ended 30 June 2026. The board will also consider the possibility of declaring an interim dividend, a decision th...
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.
Date of analysis: Sep 16, 2026