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Man King Holdings Limited
(2193)
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Rating:58Neutral
Price Target:
HK$0.43
▲(77.50% Upside)
Action:Reiterated
Date:08/06/26
The score is held back primarily by uneven financial performance: despite a 2026 rebound in net income and a strong free-cash-flow recovery, underlying operating profitability remains weak and results have been volatile. Technicals are supportive with a positive trend and MACD, but momentum looks stretched (high RSI/Stoch). Valuation appears mid-range (P/E 20) with no dividend yield provided.
Positive Factors
Conservative balance sheet
Low leverage and a sizable equity cushion provide durable financial resilience for a cyclical construction business. This structural balance-sheet strength supports continued bidding capacity, ability to absorb project overruns, and flexibility to fund growth or weather downturns without urgent refinancing.
Negative Factors
Weak operating profitability
Very thin gross margins and negative operating profit indicate underlying business economics are weak. Structural margin pressure reduces ability to generate sustainable operating earnings, limits reinvestment capacity, and makes the company vulnerable to cost inflation or lower bid competitiveness in future contract cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low leverage and a sizable equity cushion provide durable financial resilience for a cyclical construction business. This structural balance-sheet strength supports continued bidding capacity, ability to absorb project overruns, and flexibility to fund growth or weather downturns without urgent refinancing.
Read all positive factors
Man King Holdings Limited (2193) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$180.43M
Dividend Yield10%
Average Volume (3M)62.00K
Price to Earnings (P/E)22.9
Beta (1Y)0.30
Revenue Growth11.22%
EPS GrowthN/A
CountryHK
Employees138
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)0.02
Shares Outstanding419,594,000
10 Day Avg. Volume34,400
30 Day Avg. Volume62,000
Financial Highlights & Ratios
PEG Ratio-0.11
Price to Book (P/B)0.46
Price to Sales (P/S)0.32
P/FCF Ratio1.92
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
Man King Holdings Limited Business Overview & Revenue Model
Company Description
Man King Holdings Limited, an investment holding entity, specializes in offering construction and civil engineering services within Hong Kong to both public and private sectors. Its project portfolio is extensive, covering areas such as road and b...
How the Company Makes Money
null...
Man King Holdings Limited Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
74
Positive
Cash Flow
63
Positive
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 373.36M | 335.70M | 338.49M | 452.78M | 408.20M |
| Gross Profit | 5.52M | -11.26M | -26.64M | 69.62M | 51.41M |
| EBITDA | -12.64M | -10.84M | -14.47M | 46.49M | 34.54M |
| Net Income | 7.97M | -21.13M | -22.74M | 42.13M | 36.92M |
Balance Sheet | |||||
| Total Assets | 379.23M | 371.34M | 412.77M | 461.53M | 415.89M |
| Cash, Cash Equivalents and Short-Term Investments | 243.84M | 186.26M | 180.83M | 239.92M | 158.43M |
| Total Debt | 7.80M | 12.24M | 10.48M | 16.29M | 19.79M |
| Total Liabilities | 119.60M | 120.10M | 140.34M | 150.69M | 136.76M |
| Stockholders Equity | 259.63M | 251.24M | 272.43M | 310.84M | 279.12M |
Cash Flow | |||||
| Free Cash Flow | 62.27M | -30.54M | -58.18M | 104.61M | 52.66M |
| Operating Cash Flow | 62.37M | -30.29M | -52.21M | 108.07M | 66.50M |
| Investing Cash Flow | -28.95M | 21.99M | -6.63M | -4.59M | -11.62M |
| Financing Cash Flow | -5.37M | -1.94M | -22.63M | -21.42M | -13.92M |
Man King Holdings Limited Technical Analysis
Positive
0.24
Price Trends
0.37
Positive
0.36
Positive
0.30
Positive
Market Momentum
0.01
Negative
53.30
Neutral
69.70
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2193, the sentiment is Positive. The current price of 0.24 is below the 20-day moving average (MA) of 0.40, below the 50-day MA of 0.37, and below the 200-day MA of 0.30, indicating a neutral trend. The MACD of 0.01 indicates Negative momentum. The RSI at 53.30 is Neutral, neither overbought nor oversold. The STOCH value of 69.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:2193.
Man King Holdings Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | HK$367.50M | 3.14 | 13.15% | 24.10% | -31.57% | -12.77% | |
73 Outperform | HK$1.79B | 3.91 | 15.72% | 11.18% | -12.79% | -0.62% | |
70 Outperform | HK$950.00M | 3.30 | 15.75% | 6.38% | 15.16% | 25.81% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
58 Neutral | HK$180.43M | 22.89 | 3.07% | 10.00% | 11.22% | ― | |
51 Neutral | HK$1.19B | -4,083.26 | -0.11% | 1.67% | -2.02% | -101.97% | |
42 Neutral | HK$456.56M | 38.46 | 3.68% | 7.94% | 4.28% | 25.30% |
* Industrials Sector Average
HK:2193
Man King Holdings Limited
0.41
0.20
95.65%
HK:0240
Build King Holdings
1.45
0.25
20.43%
HK:1556
Chinney Kin Wing Holdings Limited
0.25
-0.07
-22.19%
HK:1627
Able Engineering Holdings Ltd.
0.47
-0.15
-24.19%
HK:1903
JBB Builders International Ltd.
2.37
1.01
74.26%
HK:2262
Steve Leung Design Group Limited
0.40
-0.75
-65.22%
Man King Holdings Limited Corporate Events
Man King Holdings Sets 2026 AGM, Seeks Renewal of Share Issuance Mandate
Jul 31, 2026
Man King Holdings Limited has called its annual general meeting for 28 August 2026 in Hong Kong, where shareholders will review the audited consolidated accounts and board and auditor reports for the year ended 31 March 2026. The agenda also cover...
Man King Holdings Swings Back to Profit on Higher Revenue and Associate Gains
Jun 26, 2026
Man King Holdings Limited reported revenue of HK$373.4 million for the year ended 31 March 2026, up from HK$335.7 million a year earlier, with a sharp turnaround from a loss to a profit attributable to shareholders of HK$8.4 million. Basic earning...
Man King Holdings Sets June Board Meeting to Approve Annual Results and Consider Dividend
Jun 11, 2026
Man King Holdings Limited has scheduled a board meeting in Hong Kong on 26 June 2026 to review and approve the annual results for the year ended 31 March 2026. The board will also consider the publication of these results and the potential declara...
Man King Holdings Flags Profit Turnaround on Stronger Project Margins
May 29, 2026
Man King Holdings Limited has issued a positive profit alert, indicating it expects to swing to a net profit of between HK$6.0 million and HK$9.6 million for the year ended 31 March 2026, compared with a net loss of about HK$21.1 million a year ea...
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.