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China Starch Holdings Limited
(3838)
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Rating:57Neutral
Price Target:
HK$0.18
â–²(1.67% Upside)
Action:Reiterated
Date:06/25/26
The score is held back primarily by deteriorating 2025 profitability and a sharp decline in cash generation (including negative free cash flow), alongside clearly bearish technical momentum. These risks are partially offset by an inexpensive valuation (low P/E) and a high dividend yield, plus a manageable leverage position on the balance sheet.
Positive Factors
Manageable Leverage
Moderate and improving leverage gives China Starch greater financial resilience than a highly indebted manufacturer. A sizable equity base and lower debt burden can preserve borrowing capacity, support continued operations through weaker cycles, and provide flexibility for future investment.
Negative Factors
Sharp Profitability Decline
The steep 2025 earnings decline shows that the company’s profitability is not currently stable. Lower revenue and sharply compressed margins reduce internal funding capacity, weaken returns on capital, and leave future earnings more exposed if pricing or operating conditions remain difficult.
Read all positive and negative factors
Positive Factors
Negative Factors
Manageable Leverage
Moderate and improving leverage gives China Starch greater financial resilience than a highly indebted manufacturer. A sizable equity base and lower debt burden can preserve borrowing capacity, support continued operations through weaker cycles, and provide flexibility for future investment.
Read all positive factors
China Starch Holdings Limited (3838) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.03B
Dividend Yield5.54%
Average Volume (3M)3.70M
Price to Earnings (P/E)48.8
Beta (1Y)0.73
Revenue Growth-5.24%
EPS Growth-95.65%
CountryHK
Employees2,177
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)<0.01
Shares Outstanding5,810,492,000
10 Day Avg. Volume6,038,249
30 Day Avg. Volume3,699,561
Financial Highlights & Ratios
PEG Ratio-0.08
Price to Book (P/B)0.23
Price to Sales (P/S)0.10
P/FCF Ratio-26.31
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
China Starch Holdings Limited Business Overview & Revenue Model
Company Description
China Starch Holdings Limited, an investment holding company, manufactures and sells cornstarch, lysine, starch-based sweeteners, modified starch, and ancillary corn-based and corn-refined products in the People’s Republic of China. The company op...
How the Company Makes Money
China Starch Holdings Limited makes money primarily by manufacturing corn-based ingredients and selling them to industrial and consumer-facing manufacturers. Its revenue model is largely volume-driven, with earnings determined by sales volumes and...
China Starch Holdings Limited Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
70
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.90B | 10.06B | 11.42B | 11.80B | 11.95B | 11.64B |
| Gross Profit | 221.21M | 540.94M | 1.16B | 556.57M | 1.19B | 952.21M |
| EBITDA | 178.62M | 517.52M | 1.08B | 458.94M | 910.39M | 777.84M |
| Net Income | 19.06M | 184.93M | 482.25M | 107.96M | 352.01M | 345.60M |
Balance Sheet | ||||||
| Total Assets | 7.12B | 6.83B | 6.96B | 5.35B | 5.11B | 4.72B |
| Cash, Cash Equivalents and Short-Term Investments | 2.46B | 2.86B | 2.21B | 899.83M | 1.00B | 1.00B |
| Total Debt | 1.29B | 1.09B | 1.48B | 559.37M | 285.93M | 111.61M |
| Total Liabilities | 2.59B | 2.17B | 2.47B | 1.42B | 1.28B | 1.23B |
| Stockholders Equity | 4.16B | 4.24B | 4.11B | 3.66B | 3.60B | 3.28B |
Cash Flow | ||||||
| Free Cash Flow | -381.88M | -36.65M | 1.06B | -8.26M | 105.70M | 694.06M |
| Operating Cash Flow | 293.05M | 292.79M | 1.32B | 413.37M | 316.83M | 1.11B |
| Investing Cash Flow | -154.71M | -329.60M | -857.09M | -719.94M | -349.47M | -387.02M |
| Financing Cash Flow | -255.42M | -465.57M | 850.55M | 203.41M | 34.65M | -60.44M |
China Starch Holdings Limited Technical Analysis
Positive
0.18
Price Trends
0.17
Positive
0.17
Positive
0.17
Positive
Market Momentum
<0.01
Negative
70.70
Negative
106.68
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3838, the sentiment is Positive. The current price of 0.18 is above the 20-day moving average (MA) of 0.17, above the 50-day MA of 0.17, and above the 200-day MA of 0.17, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 70.70 is Negative, neither overbought nor oversold. The STOCH value of 106.68 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:3838.
China Starch Holdings Limited Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
57 Neutral | HK$1.03B | 48.83 | 0.45% | 5.54% | -5.24% | -95.65% | |
54 Neutral | HK$730.09M | -9.26 | -3.49% | 17.70% | 5.96% | -252.05% | |
54 Neutral | HK$96.48M | -37.50 | -0.49% | 5.24% | 30.41% | 98.08% | |
52 Neutral | HK$743.77M | -30.79 | -1.58% | 3.78% | -6.49% | -294.24% | |
46 Neutral | HK$121.68M | -0.84 | 38.51% | 0.84% | -7.04% | 8.69% | |
44 Neutral | HK$614.52M | 1.85 | -15.63% | 2.57% | -8.40% | -77.49% |
* Consumer Defensive Sector Average
HK:3838
China Starch Holdings Limited
0.18
-0.01
-7.33%
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0.96
-0.31
-24.51%
HK:3889
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0.06
-0.03
-35.56%
HK:0809
Global Bio-chem Technology Group Co. Ltd.
0.37
-0.53
-58.89%
HK:0829
Shenguan Holdings (Group) Limited
0.24
-0.05
-17.93%
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Asia Cassava Resources Holdings Limited
0.16
0.05
50.94%
China Starch Holdings Limited Corporate Events
China Starch Swings to Interim Loss Despite Stable Revenue
Aug 19, 2026
China Starch Holdings reported unaudited interim revenue of RMB5.02 billion for the six months ended 30 June 2026, broadly flat year-on-year, but gross profit fell sharply to RMB133.69 million as cost of sales rose. The group swung from a RMB297.1...
China Starch Sets August Board Meeting to Approve Interim Results and Consider Dividend
Aug 7, 2026
China Starch Holdings Limited has scheduled a board meeting for 19 August 2026 to review and approve the interim results of the company and its subsidiaries for the six months ended 30 June 2026. The board will also consider the possible declarati...
China Starch warns of interim loss as lysine, cornstarch markets slump
Jun 22, 2026
China Starch Holdings has warned that it expects to swing to a pre-tax loss of about RMB20 million for the five months to 31 May 2026, compared with a pre-tax profit of RMB267 million a year earlier, with loss attributable to shareholders estimate...
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.