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Tsit Wing International Holdings Limited (2119) AI Stock Analysis

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HK:2119

Tsit Wing International Holdings Limited

(HKEX:2119)

Select Model
Rating:69Neutral
Price Target:HKD 0.50▲(3.75% Upside)
Action:downgraded
Date:11/05/26

The score is driven primarily by a stable financial base (very low leverage) but offset by deteriorating profitability and weaker free cash flow in 2025. Valuation is a clear positive with a low P/E and high dividend yield. Technical signals are mixed, limiting the overall upside implied by price action.

Positive Factors
Revenue ReboundThe strong 2025 revenue rebound indicates renewed demand for the company’s coffee and tea distribution activities. If maintained, higher sales can support better operating leverage, deepen customer relationships, and provide a broader base for restoring earnings over the coming quarters.
Negative Factors
Margin CompressionThe sharp decline in gross and EBIT margins shows that the revenue rebound came with materially weaker profitability. Unless pricing, product mix, or cost efficiency improves, sustained compression could limit earnings growth and reduce the benefit of expanding sales.

Tsit Wing International Holdings Limited (2119) vs. iShares MSCI Hong Kong ETF (EWH)

-20%-15%-10%-5%0%5%10%15%HK:2119-9.94%EWH+6.73%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
HKD 349.55M
Dividend Yield
6.60%
Average Volume (3M)
102.76K
Price to Earnings (P/E)
8.3
Beta (1Y)
0.13
Revenue Growth
7.32%
EPS Growth
-12.97%
Country
Hong Kong
Employees
352
Sector
Consumer Defensive
Sector Strength
62
Industry
Beverages - Non-Alcoholic

Tsit Wing International Holdings Limited Business Overview & Revenue Model

Company Description

Tsit Wing International Holdings Limited, an investment holding entity, supplies a wide array of beverages and food products to customers across Hong Kong, mainland China, Canada, Australia, the United States, Taiwan, the Philippines, Malaysia, Singa...

How the Company Makes Money

Tsit Wing primarily makes money by supplying coffee and tea products to business customers through a B2B distribution and sales model. Its key revenue streams typically include: (1) Sales of roasted coffee and coffee-related products: revenue generat...

Tsit Wing International Holdings Limited Financial Statement Overview

Summary

Strong 2025 revenue rebound (+39.4% YoY) is tempered by meaningful margin compression (gross margin 25.7% vs. 34.1% in 2024; EBIT margin 6.4% vs. 10.0%) and weaker cash conversion (FCF 23.1M vs. 49.0M). A key offset is the conservative balance sheet with very low leverage (debt-to-equity ~0.05), which supports resilience despite declining returns.

Income Statement

66Positive

Balance Sheet

84Very Positive

Cash Flow

58Neutral
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue807.16M789.16M721.12M728.93M695.94M766.79M
Gross Profit201.29M222.06M245.96M239.50M234.76M298.98M
EBITDA83.77M85.05M110.16M99.33M98.92M140.70M
Net Income41.57M42.73M59.09M48.71M47.42M80.24M
Balance Sheet
Total Assets708.40M714.23M680.17M735.12M730.57M762.45M
Cash, Cash Equivalents and Short-Term Investments179.11M153.27M170.45M253.75M189.79M272.11M
Total Debt15.80M25.54M33.23M25.09M26.65M29.11M
Total Liabilities157.14M186.34M170.51M144.68M155.34M173.93M
Stockholders Equity551.26M527.89M509.66M590.44M575.24M588.52M
Cash Flow
Free Cash Flow72.71M23.15M49.04M105.56M-34.53M66.38M
Operating Cash Flow99.27M47.72M77.13M143.35M41.80M97.59M
Investing Cash Flow-27.43M-26.16M-7.12M-32.04M-72.87M-30.04M
Financing Cash Flow-40.83M-39.37M-152.33M-46.01M-44.68M-74.30M

Tsit Wing International Holdings Limited Technical Analysis

Technical Analysis SentimentPositive
Last Price0.48

Price Trends

50DMA0.45Positive
100DMA0.45Positive
200DMA0.46Positive

Market Momentum

MACD0.01Negative
RSI69.41Neutral
STOCH71.59Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2119, the sentiment is Positive. The current price of 0.48 is above the 20-day moving average (MA) of 0.46, above the 50-day MA of 0.45, and above the 200-day MA of 0.46, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 69.41 is Neutral, neither overbought nor oversold. The STOCH value of 71.59 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:2119.

Tsit Wing International Holdings Limited Peers Comparison

Overall Rating

UnderperformOutperform
Sector (62)

Financial Indicators

HK:2119 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
HK:0506HK:050678OutperformHKD 11.05B10.3912.97%4.53%4.39%8.53%
HK:0220HK:022074OutperformHKD 36.02B14.4216.17%6.48%3.65%4.00%
HK:9633HK:963372OutperformHKD 511.49B25.6844.39%2.48%26.71%31.59%
HK:2119HK:211969NeutralHKD 349.55M8.327.70%6.60%7.32%-12.97%
HK:2460HK:246069NeutralHKD 18.00B20.607.15%5.14%――
HK:2218HK:221863NeutralHKD 18.73B105.257.89%1.71%-13.68%-19.91%
Sector *62Neutral$20.33B14.63-3.31%3.23%1.93%-12.26%

* Consumer Defensive Sector Average

Performance Comparison

0%50%HK:2119HK:0220HK:2218HK:9633HK:0506HK:2460Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
HK:2119 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
HK:2119Tsit Wing International Holdings Limited0.48-0.04-8.40%
HK:0220Uni-President China Holdings 8.480.546.82%
HK:2218Yantai North Andre Juice Co Class H20.085.1834.77%
HK:9633Nongfu Spring Co., Ltd. Class H45.64-7.19-13.62%
HK:0506China Foods Limited3.91-0.09-2.35%
HK:2460China Resources Beverage (Holdings) Company Limited7.60-2.65-25.85%

Tsit Wing International Holdings Limited Corporate Events

Tsit Wing’s Interim Profit Slips as Margins Tighten Despite Revenue Growth

Aug 14, 2026

Tsit Wing International Holdings reported interim revenue of HK$398.4 million for the six months ended 30 June 2026, up 4.7% year on year. However, higher costs drove gross profit down 2.0% to HK$113.6 million and compressed gross margin from 30.5% t...

Tsit Wing International Declares Interim Cash Dividend for First Half of 2026

Aug 14, 2026

Tsit Wing International Holdings Limited, a Hong Kong-listed company in the food and beverage sector, has announced an interim ordinary cash dividend for the six months ended 30 June 2026. The group continues to follow Hong Kong market norms in corpo...

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.

Date of analysis: Nov 05, 2026