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Casablanca Group Ltd.
(2223)
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Rating:48Neutral
Price Target:
HK$0.55
▲(47.30% Upside)
Action:Reiterated
Date:07/18/26
The score is held back primarily by deteriorating operating performance (multi-year revenue decline and sustained net losses) and very weak technicals (price below all major moving averages with bearish momentum). A strong, low-debt balance sheet and still-positive free cash flow provide some downside resilience but are not enough to offset the earnings and trend concerns.
Positive Factors
Conservative balance sheet
Low leverage and a sizeable equity base give durable financial resilience: the company can absorb operating volatility, delay forced asset sales, and maintain strategic optionality. This structural strength reduces refinancing risk and supports medium-term recovery or reinvestment plans.
Negative Factors
Multi-year revenue decline
Persistent top-line contraction undermines scale advantages and reduces fixed-cost absorption, eroding operating leverage. Over 2–6 months this trend limits the firm's ability to restore margins, weakens supplier/retailer positioning, and makes sustainable turnaround more difficult absent structural demand improvements.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low leverage and a sizeable equity base give durable financial resilience: the company can absorb operating volatility, delay forced asset sales, and maintain strategic optionality. This structural strength reduces refinancing risk and supports medium-term recovery or reinvestment plans.
Read all positive factors
Casablanca Group Ltd. (2223) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$139.40M
Dividend Yield23.08%
Average Volume (3M)89.40K
Price to Earnings (P/E)―
Beta (1Y)-0.22
Revenue Growth-3.14%
EPS Growth40.35%
CountryHK
Employees473
SectorConsumer Cyclical
Sector Strength84
IndustryFurnishings, Fixtures & Appliances
Share Statistics
EPS (TTM)-0.03
Shares Outstanding258,152,000
10 Day Avg. Volume46,400
30 Day Avg. Volume89,400
Financial Highlights & Ratios
PEG Ratio-0.64
Price to Book (P/B)0.53
Price to Sales (P/S)0.82
P/FCF Ratio15.64
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
Casablanca Group Ltd. Business Overview & Revenue Model
Company Description
Casablanca Group Limited operates as an investment holding entity, primarily focusing on the design, manufacturing, and extensive retail distribution of bedding products. Its market presence spans Hong Kong, Macau, mainland China, and other intern...
How the Company Makes Money
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Casablanca Group Ltd. Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
74
Positive
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 235.47M | 236.31M | 247.06M | 284.10M | 300.16M | 320.40M |
| Gross Profit | 159.55M | 158.50M | 164.44M | 192.15M | 186.78M | 196.37M |
| EBITDA | 5.58M | -4.49M | 17.30M | 18.04M | 34.75M | 43.41M |
| Net Income | -7.89M | -12.23M | -9.79M | -4.64M | 5.38M | 11.94M |
Balance Sheet | ||||||
| Total Assets | 435.84M | 433.15M | 448.37M | 466.27M | 484.84M | 522.26M |
| Cash, Cash Equivalents and Short-Term Investments | 143.24M | 138.44M | 131.12M | 132.53M | 146.89M | 142.47M |
| Total Debt | 47.93M | 39.50M | 27.45M | 17.24M | 23.53M | 24.68M |
| Total Liabilities | 74.69M | 71.15M | 83.66M | 85.52M | 89.07M | 117.54M |
| Stockholders Equity | 362.56M | 362.96M | 367.43M | 383.92M | 394.01M | 404.72M |
Cash Flow | ||||||
| Free Cash Flow | 9.35M | 12.36M | 9.32M | 7.75M | 11.56M | -495.00K |
| Operating Cash Flow | 10.08M | 15.44M | 18.13M | 22.22M | 45.14M | 39.68M |
| Investing Cash Flow | -2.85M | 907.00K | 488.00K | -15.64M | -28.41M | -40.11M |
| Financing Cash Flow | -9.29M | -18.02M | -12.35M | -21.98M | -12.50M | -53.58M |
Casablanca Group Ltd. Technical Analysis
Negative
0.37
Price Trends
0.57
Negative
0.77
Negative
0.78
Negative
Market Momentum
-0.01
Negative
46.71
Neutral
81.05
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2223, the sentiment is Negative. The current price of 0.37 is below the 20-day moving average (MA) of 0.52, below the 50-day MA of 0.57, and below the 200-day MA of 0.78, indicating a neutral trend. The MACD of -0.01 indicates Negative momentum. The RSI at 46.71 is Neutral, neither overbought nor oversold. The STOCH value of 81.05 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2223.
Casablanca Group Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | HK$625.13M | 4.30 | 5.83% | 5.61% | -1.84% | 29.22% | |
64 Neutral | HK$1.79B | 5.76 | 11.98% | 16.13% | 6.23% | -12.18% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
59 Neutral | HK$3.15B | 11.09 | 9.33% | 6.27% | -1.56% | 53.99% | |
50 Neutral | HK$330.92M | 3.74 | 6.65% | 8.23% | 0.41% | ― | |
49 Neutral | HK$862.48M | 21.19 | 2.55% | 1.81% | 5.77% | 22.13% | |
48 Neutral | HK$139.40M | -17.70 | -2.17% | 23.08% | -3.14% | 40.35% |
* Consumer Cyclical Sector Average
HK:2223
Casablanca Group Ltd.
0.53
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Casablanca Group Ltd. Corporate Events
Casablanca Group Wins Unanimous Shareholder Backing at 2026 AGM
May 15, 2026
Casablanca Group Ltd. reported that shareholders at its 15 May 2026 annual general meeting unanimously approved all ordinary resolutions, including adoption of the 2025 audited financial statements, re-election and election of directors, and reapp...
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.