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Asiaray Media Group Ltd.
(1993)
Select Model
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Rating:46Neutral
Price Target:
HK$0.52
▲(1.76% Upside)
Action:Reiterated
Date:09/16/26
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.
Positive Factors
Consistently positive free cash flow
Consistent positive cash generation gives the company an internal funding source despite earnings volatility. Strong 2025 free cash flow growth and limited capital-spending drag can support liquidity, ongoing operations, and selective investment over the next several quarters.
Negative Factors
Highly stressed balance sheet
Negative equity and elevated leverage materially reduce financial flexibility and increase refinancing risk. A large debt burden can absorb cash that might otherwise fund growth or operations, making the business more vulnerable to weaker advertising demand and limiting management’s strategic options.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistently positive free cash flow
Consistent positive cash generation gives the company an internal funding source despite earnings volatility. Strong 2025 free cash flow growth and limited capital-spending drag can support liquidity, ongoing operations, and selective investment over the next several quarters.
Read all positive factors
Asiaray Media Group Ltd. (1993) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$253.42M
Dividend Yield23.7%
Average Volume (3M)21.35K
Price to Earnings (P/E)23.8
Beta (1Y)0.37
Revenue Growth1.67%
EPS GrowthN/A
CountryHK
Employees465
SectorCommunication Services
Sector Strength97
IndustryAdvertising Agencies
Share Statistics
EPS (TTM)<0.01
Shares Outstanding484,910,740
10 Day Avg. Volume11,250
30 Day Avg. Volume21,350
Financial Highlights & Ratios
PEG Ratio-1.45
Price to Book (P/B)-1.50
Price to Sales (P/S)0.28
P/FCF Ratio0.61
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
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, Met...
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 thei...
Asiaray Media Group Ltd. Financial Statement Overview
Summary
Income Statement
48
Neutral
Balance Sheet
18
Very Negative
Cash Flow
72
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 892.42M | 1.07B | 1.61B | 1.87B | 2.29B |
| Gross Profit | 292.68M | 306.52M | 351.86M | 304.62M | 420.37M |
| EBITDA | 326.43M | 14.09M | 937.73M | -6.24M | 1.27B |
| Net Income | 12.96M | -51.79M | -19.70M | -127.50M | -176.26M |
Balance Sheet | |||||
| Total Assets | 1.62B | 2.05B | 2.88B | 3.15B | 6.67B |
| Cash, Cash Equivalents and Short-Term Investments | 200.40M | 215.20M | 368.13M | 333.32M | 386.04M |
| Total Debt | 1.12B | 1.36B | 2.29B | 2.43B | 5.69B |
| Total Liabilities | 1.59B | 1.79B | 2.63B | 2.88B | 6.21B |
| Stockholders Equity | -165.32M | 77.34M | 126.67M | -100.32M | 324.47M |
Cash Flow | |||||
| Free Cash Flow | 408.78M | 564.02M | 724.53M | 749.87M | 967.47M |
| Operating Cash Flow | 418.25M | 605.04M | 675.87M | 801.52M | 1.04B |
| Investing Cash Flow | -10.66M | -31.86M | -11.77M | -91.50M | -67.29M |
| Financing Cash Flow | -433.03M | -726.71M | -634.29M | -700.22M | -968.26M |
Asiaray Media Group Ltd. Technical Analysis
Positive
0.51
Price Trends
0.51
Positive
0.57
Negative
0.58
Negative
Market Momentum
<0.01
Negative
53.44
Neutral
61.54
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1993, the sentiment is Positive. The current price of 0.51 is above the 20-day moving average (MA) of 0.51, above the 50-day MA of 0.51, and below the 200-day MA of 0.58, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 53.44 is Neutral, neither overbought nor oversold. The STOCH value of 61.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1993.
Asiaray Media Group Ltd. Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | HK$2.68B | 6.13 | 16.67% | 9.11% | 3.40% | 12.68% | |
67 Neutral | HK$18.08B | 28.01 | 23.78% | 2.16% | 25.61% | 95.27% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
50 Neutral | HK$1.08B | 675.83 | 3.06% | 3.86% | -1.69% | -73.57% | |
46 Neutral | HK$253.42M | 23.81 | -47.52% | 23.70% | 1.67% | ― | |
44 Neutral | HK$731.96M | 136.25 | 1.73% | ― | 885.14% | ― | |
44 Neutral | HK$3.23B | -58.00 | -15.14% | ― | 95.63% | 29.44% |
* Communication Services Sector Average
HK:1993
Asiaray Media Group Ltd.
0.52
-0.17
-24.64%
HK:0752
Pico Far East Holdings
2.09
-0.51
-19.78%
HK:1716
Most Kwai Chung Ltd.
4.06
3.51
637.27%
HK:1860
Mobvista, Inc.
10.83
-5.86
-35.11%
HK:0205
SEEC Media Group Limited
0.55
0.25
81.67%
HK:2422
Rego Interactive Co., Ltd.
1.99
1.58
384.15%
Asiaray Media Group Ltd. Corporate Events
Asiaray Improves Profitability for Shareholders Despite Lower Interim Revenue
Aug 27, 2026
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 RM...
Asiaray Media Overhauls Key Governance Roles With New Company Secretary
Aug 27, 2026
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 boa...
Asiaray Schedules Board Meeting to Approve 2026 Interim Results and Dividend
Aug 17, 2026
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...
Asiaray Media Renews Connected Tenancy Deals for Warehouses and Shanghai Office
Jun 30, 2026
Asiaray Media Group has renewed key tenancy agreements for two warehouse facilities and a Shanghai office, with subsidiaries Genesis Printing, Asiaray Media and HK Asiaray Advertising continuing as tenants. The counterparties Asiaray China and Pea...
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.