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Changhong Jiahua Holdings Ltd.
(3991)
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Rating:52Neutral
Price Target:
HK$0.61
â–²(0.16% Upside)
Action:Reiterated
Date:06/26/26
The score is driven primarily by mixed financial performance: improving leverage and modest revenue growth are offset by very thin margins and significant cash-flow instability. Technical signals are notably weak with price below all key moving averages and bearish momentum, which materially drags the score. Valuation is a bright spot, supported by a low P/E and high dividend yield.
Positive Factors
Revenue recovery
Revenue returning to growth after a flat period indicates renewed demand and channel throughput, giving the distributor a larger base from which to leverage vendor relationships and value-added services. However, the pace is moderate, so this supports stability more than rapid expansion.
Negative Factors
Structurally thin margins
Gross margin of about 3.2% and net margin around 0.9–1.0% leave little room for procurement, logistics, operating, or demand disruptions to be absorbed. Such structurally thin profitability limits internal reinvestment and makes earnings more sensitive to small changes in pricing, volume, and costs.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue recovery
Revenue returning to growth after a flat period indicates renewed demand and channel throughput, giving the distributor a larger base from which to leverage vendor relationships and value-added services. However, the pace is moderate, so this supports stability more than rapid expansion.
Read all positive factors
Changhong Jiahua Holdings Ltd. (3991) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.56B
Dividend Yield8.26%
Average Volume (3M)890.27K
Price to Earnings (P/E)3.7
Beta (1Y)0.28
Revenue Growth20.47%
EPS Growth7.47%
CountryHK
Employees1,348
SectorTechnology
Sector Strength88
IndustryTechnology Distributors
Share Statistics
EPS (TTM)0.17
Shares Outstanding1,454,652,000
10 Day Avg. Volume1,742,000
30 Day Avg. Volume890,266
Financial Highlights & Ratios
PEG Ratio1.07
Price to Book (P/B)0.87
Price to Sales (P/S)0.07
P/FCF Ratio-4.77
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
Changhong Jiahua Holdings Ltd. Business Overview & Revenue Model
Company Description
Changhong Jiahua Holdings Limited functions as an investment holding company, primarily engaged in the distribution of a wide array of information and communication technology (ICT) products for both consumer and corporate clients, in addition to ...
How the Company Makes Money
Changhong Jiahua primarily makes money through (1) product distribution and (2) value-added services attached to the sale and deployment of those products.
1) Product distribution (core revenue stream)
- The company acts as an intermediary in the...
Changhong Jiahua Holdings Ltd. Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
62
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 50.44B | 43.83B | 39.99B | 37.17B | 38.34B | 44.56B |
| Gross Profit | 1.49B | 1.40B | 1.38B | 1.30B | 1.27B | 1.32B |
| EBITDA | 643.64M | 593.49M | 624.13M | 696.54M | 670.55M | 698.11M |
| Net Income | 425.36M | 400.86M | 379.27M | 360.54M | 365.82M | 413.25M |
Balance Sheet | ||||||
| Total Assets | 17.91B | 17.44B | 18.07B | 17.41B | 15.95B | 12.47B |
| Cash, Cash Equivalents and Short-Term Investments | 3.69B | 4.57B | 561.78M | 6.13B | 415.54M | 3.39B |
| Total Debt | 1.75B | 2.43B | 2.75B | 1.80B | 2.56B | 1.19B |
| Total Liabilities | 14.17B | 14.08B | 15.09B | 14.59B | 13.32B | 9.79B |
| Stockholders Equity | 3.74B | 3.36B | 2.98B | 2.81B | 2.63B | 2.68B |
Cash Flow | ||||||
| Free Cash Flow | 573.70M | -614.04M | -3.29B | -2.94B | -2.12B | 452.99M |
| Operating Cash Flow | 576.76M | -610.98M | -3.29B | -2.93B | -2.12B | 461.88M |
| Investing Cash Flow | -1.96B | 1.62B | -638.00M | 180.56M | -2.82B | 334.12M |
| Financing Cash Flow | 529.96M | -1.16B | 3.43B | 3.49B | 4.65B | -476.74M |
Changhong Jiahua Holdings Ltd. Technical Analysis
Negative
0.61
Price Trends
0.65
Negative
0.79
Negative
0.96
Negative
Market Momentum
-0.02
Negative
34.81
Neutral
29.41
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3991, the sentiment is Negative. The current price of 0.61 is below the 20-day moving average (MA) of 0.61, below the 50-day MA of 0.65, and below the 200-day MA of 0.96, indicating a bearish trend. The MACD of -0.02 indicates Negative momentum. The RSI at 34.81 is Neutral, neither overbought nor oversold. The STOCH value of 29.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:3991.
Changhong Jiahua Holdings Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | HK$1.13B | 5.01 | 12.36% | 1.54% | 12.17% | 331.64% | |
75 Outperform | HK$13.63B | 7.91 | 16.01% | 4.40% | 10.80% | 37.32% | |
74 Outperform | HK$231.00M | 22.12 | 5.93% | 1.21% | -32.77% | 337.65% | |
65 Neutral | HK$2.23B | 4.62 | 34.04% | 4.73% | 120.16% | 263.85% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | HK$7.94B | 17.97 | 8.41% | 2.94% | 81.43% | 65.90% | |
52 Neutral | HK$1.56B | 3.66 | 11.99% | 8.26% | 20.47% | 7.47% |
* Technology Sector Average
HK:3991
Changhong Jiahua Holdings Ltd.
0.61
-0.32
-34.24%
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Changhong Jiahua Holdings Ltd. Corporate Events
Regulatory Delays Slow Changhong Jiahua Privatisation and Delisting Plan
Aug 21, 2026
Changhong Jiahua Holdings Limited and its offeror, Hongtu Investment Co., Limited, have provided a monthly update on the proposed privatisation of the company via a court-sanctioned scheme of arrangement and the associated plan to withdraw its sha...
Changhong Jiahua Delivers Strong Interim Profit Growth on Surging Revenue
Aug 12, 2026
Changhong Jiahua Holdings Limited reported a robust improvement in interim unaudited results for the six months ended 30 June 2026, with revenue rising to HK$27.78 billion from HK$21.17 billion a year earlier and gross profit increasing to HK$744....
Changhong Jiahua Revamps Key Governance Roles With New Company Secretary
Aug 12, 2026
Changhong Jiahua Holdings Ltd. has announced a change in key corporate governance roles, with company secretary and authorised representative Mr. Cheng Ching Kit resigning effective 12 August 2026 from his positions, including process agent under ...
Changhong Jiahua Sets August Board Meeting to Review Interim Results and Dividend
Jul 31, 2026
Changhong Jiahua Holdings Limited has scheduled a board meeting for 12 August 2026 to review and approve the unaudited interim results for the six months ended 30 June 2026 and arrange for their publication. The board will also consider the declar...
Changhong Jiahua Updates Bermuda Registered Office and Share Registrar Details
Jul 31, 2026
Changhong Jiahua Holdings Limited has announced that, effective 3 August 2026, its registered office, principal share registrar and transfer agent in Bermuda will relocate to Conyers Corporate Services (Bermuda) Limited at Richmond House, 12 Par-l...
Regulatory Delays Slow Changhong Jiahua Privatisation and Hong Kong Delisting Plan
Jul 22, 2026
Changhong Jiahua Holdings Limited, a Hong Kong-incorporated company listed under stock code 3991, operates in the technology and electronics distribution space with ties to the Changhong industrial group. Its business links it closely to mainland ...
Changhong Jiahua Wins Strong Shareholder Backing at 2026 AGM
Jun 26, 2026
Changhong Jiahua Holdings Ltd. reported that all resolutions were approved at its annual general meeting held on 26 June 2026, including adoption of the 2025 audited financial statements, re-election of three directors, and reappointment of SHINEW...
Regulatory Delays Slow Changhong Jiahua Privatisation Bid
Jun 22, 2026
Changhong Jiahua Holdings and its offeror, Hongtu Investment, provided a monthly update on the proposed privatisation and planned delisting of the company from the Hong Kong Stock Exchange. The transaction is structured as a scheme of arrangement ...
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.