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Man Wah Holdings (1999) AI Stock Analysis
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Man Wah Holdings
(HKEX:1999)
The score is anchored by mixed financial performance (still-solid margins and balance sheet, but weakening revenue trend and lower recent free cash flow). Valuation is a major positive with a low P/E and high dividend yield, while technicals remain a key drag due to a clear downtrend and weak momentum.
Man Wah Holdings (1999) vs. iShares MSCI Hong Kong ETF (EWH)
- Market Cap
- HKD 1.35B
- Dividend Yield
- 10.64%
- Average Volume (3M)
- 8.90M
- Price to Earnings (P/E)
- 4.8
- Beta (1Y)
- 0.88
- Revenue Growth
- -2.80%
- EPS Growth
- -12.13%
- Country
- Hong Kong
- Employees
- 26,050
- Sector
- Consumer Cyclical
- Sector Strength
- 61
- Industry
- Furnishings, Fixtures & Appliances
Man Wah Holdings Business Overview & Revenue Model
Company Description
Man Wah Holdings Limited functions as an investment holding company, primarily focused on the global production, wholesale, and distribution of sofas and related furniture items. Its market reach spans the People's Republic of China, North America, E...
How the Company Makes Money
Man Wah primarily makes money by selling upholstered furniture products it designs and manufactures, with revenue recognized from product sales to (1) third-party retailers/wholesale customers and (2) its own or managed retail channels where it sells...
Man Wah Holdings Financial Statement Overview
Summary
Solid profitability (gross margin ~39–40%, net margin ~11%) and a generally healthy profile, but multi-year revenue contraction, easing operating profitability/ROE, and a sharp free-cash-flow drop in 2026 weaken the near-term financial trajectory.
Income Statement
62PositiveBalance Sheet
74PositiveCash Flow
55Neutral| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 16.43B | 16.43B | 16.90B | 18.41B | 17.35B | 21.50B |
| Gross Profit | 6.48B | 6.48B | 6.84B | 7.25B | 6.68B | 7.89B |
| EBITDA | 3.10B | 2.91B | 3.36B | 3.64B | 3.00B | 3.57B |
| Net Income | 1.81B | 1.81B | 2.06B | 2.30B | 1.91B | 2.25B |
Balance Sheet | ||||||
| Total Assets | 22.40B | 22.40B | 20.02B | 19.81B | 19.64B | 20.52B |
| Cash, Cash Equivalents and Short-Term Investments | 3.33B | 3.33B | 4.08B | 3.52B | 4.09B | 3.22B |
| Total Debt | 4.84B | 4.84B | 4.39B | 4.33B | 4.40B | 4.61B |
| Total Liabilities | 7.20B | 7.20B | 6.37B | 6.73B | 7.11B | 7.77B |
| Stockholders Equity | 14.18B | 14.18B | 12.71B | 12.08B | 11.56B | 11.71B |
Cash Flow | ||||||
| Free Cash Flow | 1.07B | 1.05B | 2.28B | 985.45M | 2.50B | 363.28M |
| Operating Cash Flow | 2.38B | 2.38B | 3.32B | 2.55B | 4.06B | 2.32B |
| Investing Cash Flow | -1.17B | -1.19B | -1.55B | -1.54B | -1.59B | -995.57M |
| Financing Cash Flow | -1.48B | -1.47B | -1.50B | -1.28B | -1.41B | -956.19M |
Man Wah Holdings Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1999, the sentiment is Negative. The current price of 2.25 is below the 20-day moving average (MA) of 2.43, below the 50-day MA of 2.75, and below the 200-day MA of 3.62, indicating a bearish trend. The MACD of -0.15 indicates Negative momentum. The RSI at 30.68 is Neutral, neither overbought nor oversold. The STOCH value of 31.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1999.
Man Wah Holdings Peers Comparison
Overall Rating
- HK:199965Neutral
HK:141855Neutral
HK:022951Neutral
HK:119846.9Neutral
HK:157541Neutral
HK:068440Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| HK:1999 | 65Neutral | HKD 8.67B | 4.80 | 13.03% | 10.64% | -2.80% | -12.13% |
| Sector * | 61Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% |
| HK:1418 | 55Neutral | HKD 211.75M | 4.69 | 4.32% | 8.26% | 35.18% | -56.12% |
| HK:0229 | 51Neutral | HKD 355.94M | 104.84 | 0.51% | 5.63% | -3.83% | -93.40% |
| HK:1198 | 47Neutral | HKD 446.95M | -0.57 | -164.30% | ― | -29.60% | -51.87% |
| HK:1575 | 41Neutral | HKD 185.43M | -1.80 | 26.53% | ― | -59.38% | -200.00% |
| HK:0684 | 40Underperform | HKD 166.53M | -4.41 | -5.41% | ― | 23.15% | 60.71% |
* Consumer Cyclical Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| HK:1999 | Man Wah Holdings | 2.25 | -2.34 | -50.98% | |
| HK:0684 | Allan International Holdings Limited | 0.50 | -0.05 | -9.09% | |
| HK:0229 | Raymond Industrial Limited | 0.71 | -0.20 | -21.72% | |
| HK:1198 | Royale Home Holdings Limited | 0.17 | 0.02 | 16.22% | |
| HK:1418 | Sinomax Group Ltd. | 0.12 | -0.10 | -45.00% | |
| HK:1575 | Morris Home Holdings Limited | 0.05 | 0.00 | 0.00% |
Man Wah Holdings Corporate Events
Man Wah warns of sharp profit slump on cost surge and U.S. unit woes
Man Wah Holdings has warned that profit attributable to shareholders for the six months to 30 September 2026 will fall by about 70% to 90% from HKD 1,145.6 million a year earlier, despite broadly stable revenue. The company cited surging prices of ke...
Man Wah Sets November Board Meeting to Approve Interim Results and Dividend Plan
Man Wah Holdings has scheduled a board meeting for 16 November 2026 to review and approve the unaudited interim results for the half year ended 30 September 2026. The board will also consider declaring an interim dividend and address other corporate...
Man Wah’s U.S. Upholstery Unit Files for Chapter 11 Amid Disputes
Man Wah Holdings has disclosed that its newly acquired U.S. subsidiary group, which manufactures and trades upholstered furniture from eight plants in northern Mississippi, contributed about 2% of group revenue in FY2026, and would have accounted for...
Man Wah raises DFS stake to 8.58% in connected share purchase
Man Wah Holdings has agreed to acquire additional shares in DFS from a connected party for GBP12.47 million, lifting its stake in the U.K. sofa retailer to about 8.58 percent. The transaction, priced at the five‑day average closing level and fu...
Man Wah Subsidiary RMT Sees Profit Drop Despite Modest Revenue Growth
Man Wah Holdings’ subsidiary Remacro Technology Co., Ltd. has reported unaudited interim results for the six months ended 30 June 2026, showing revenue of RMB 1.09 billion, up 4.19% year on year, but with gross profit margin slipping to 17.91%...
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: Oct 14, 2026