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Tomo Holdings Limited (6928) AI Stock Analysis

HK:6928

Tomo Holdings Limited

(HKEX:6928)

Select Model
Rating:48Neutral
Price Target:HKD 0.26â–²(0.77% Upside)
Action:reiterated
Date:10/09/26

The score is primarily held back by weak financial performance—ongoing large losses and persistent negative operating/free cash flow—despite a conservatively leveraged balance sheet. Technicals are supportive with price above major moving averages and a positive MACD, but the very high RSI signals overbought conditions. Valuation is constrained by negative earnings (negative P/E) and no stated dividend yield.

Positive Factors
Very Low LeverageMinimal debt relative to equity reduces solvency pressure and limits mandatory financing costs. This conservative capital structure gives Tomo greater flexibility to fund operations, manage a prolonged turnaround, and withstand earnings volatility without relying heavily on refinancing.
Negative Factors
Persistent Large LossesContinued large operating and net losses show that the current revenue base is not yet sufficient to support the full cost structure. Until losses narrow materially, shareholder returns remain pressured and the company’s ability to compound value remains uncertain.

Tomo Holdings Limited (6928) vs. iShares MSCI Hong Kong ETF (EWH)

-40%-20%0%20%40%60%HK:6928+28.02%EWH+7.37%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
HKD 202.72M
Dividend Yield
―
Average Volume (3M)
436.73K
Price to Earnings (P/E)
-6.6
Beta (1Y)
1.62
Revenue Growth
-4.94%
EPS Growth
24.07%
Country
Hong Kong
Employees
48
Sector
Consumer Cyclical
Sector Strength
61
Industry
Auto - Parts

Tomo Holdings Limited Business Overview & Revenue Model

Company Description

TOMO Holdings Limited operates as an investment holding company, primarily focusing on the design, manufacturing, supply, and installation of leather upholstery for passenger vehicles throughout Singapore. Beyond providing leather for front and rear...

Tomo Holdings Limited Financial Statement Overview

Summary

Balance sheet leverage is very low (a positive for solvency), but profitability and cash generation are the key weaknesses. The company continues to post large operating/net losses and operating/free cash flow have been consistently negative (2021–2025), despite a rebound in revenue and gross margin improvement in 2025.

Income Statement

24Negative

Balance Sheet

62Positive

Cash Flow

22Negative
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue2.70M3.03M2.83M9.07M16.34M9.71M
Gross Profit869.84K1.22M932.53K420.39K925.49K1.57M
EBITDA-2.95M-3.72M-3.22M-10.22M-1.87M287.36K
Net Income-2.71M-3.71M-2.63M-10.58M-1.87M118.03K
Balance Sheet
Total Assets16.31M16.19M11.21M14.64M24.98M26.34M
Cash, Cash Equivalents and Short-Term Investments10.79M9.81M4.93M8.32M12.02M20.36M
Total Debt79.72K101.38K6,79746.47K84.31K6,945
Total Liabilities1.05M2.53M591.79K1.39M1.15M638.36K
Stockholders Equity15.26M13.66M10.62M13.25M23.83M25.70M
Cash Flow
Free Cash Flow-1.11M-2.87M-3.41M-3.78M-2.16M-233.40K
Operating Cash Flow-1.01M-2.79M-3.37M-3.39M-1.60M-118.55K
Investing Cash Flow-100.49K-72.45K24.59K4.74M-11.71M-114.15K
Financing Cash Flow13.17M7.68M-41.03K-41.03K-41.18K-41.94K

Tomo Holdings Limited Technical Analysis

Technical Analysis SentimentNeutral
Last Price0.26

Price Trends

50DMA0.21Positive
100DMA0.20Positive
200DMA0.21Positive

Market Momentum

MACD0.02Positive
RSI54.78Neutral
STOCH75.22Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6928, the sentiment is Neutral. The current price of 0.26 is below the 20-day moving average (MA) of 0.26, above the 50-day MA of 0.21, and above the 200-day MA of 0.21, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 54.78 is Neutral, neither overbought nor oversold. The STOCH value of 75.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:6928.

Tomo Holdings Limited Peers Comparison

Overall Rating

UnderperformOutperform
Sector (61)

Financial Indicators

HK:6928 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
Sector *61Neutral$18.38B12.79-2.54%3.03%1.52%-15.83%
HK:1930HK:193057NeutralHKD 254.10M14.773.83%1.79%43.21%-14.34%
HK:6830HK:683050NeutralHKD 350.30M12.801.65%1.43%38.49%-51.32%
HK:6928HK:692848NeutralHKD 202.72M-6.64-28.72%―-4.94%24.07%
HK:6162HK:616245NeutralHKD 44.40M8.531.87%―38.69%―
HK:0360HK:036040UnderperformHKD 602.59M-4.29-38.18%―15.81%-16.67%
HK:1274HK:127438UnderperformHKD 468.55M-1.30-51.45%―47.81%24.12%

* Consumer Cyclical Sector Average

Performance Comparison

-50%0%HK:6928HK:0360HK:1930HK:6162HK:6830HK:1274Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
HK:6928 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
HK:6928Tomo Holdings Limited0.270.0417.78%
HK:0360New Focus Auto Tech Holdings 0.04-0.01-27.08%
HK:1930Shinelong Automotive Lightweight Application Limited0.390.024.90%
HK:6162China Tianrui Automotive Interiors Co., Ltd.0.74-18.46-96.15%
HK:6830Huazhong In-Vehicle Holdings Company Limited0.20-0.07-26.94%
HK:1274iMotion Automotive Technology (Suzhou) Co., Ltd. Class H1.82-5.88-76.36%

Tomo Holdings Limited Corporate Events

Tomo Holdings Narrows Interim Loss Despite 22% Revenue Decline

Aug 31, 2026

Tomo Holdings Limited reported unaudited revenue of approximately S$1.16 million for the six months ended 30 June 2026, down 22.4% from the same period in 2025, as cost of sales and reduced gross profit weighed on topline performance. Despite the rev...

Tomo Holdings Sets August Board Meeting to Review Interim Results and Dividend

Aug 4, 2026

Tomo Holdings Limited has scheduled a board meeting for 31 August 2026 to review and approve the unaudited interim results for the six months ended 30 June 2026. The board will also consider whether to recommend the payment of an interim dividend, si...

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: Oct 09, 2026