CBK Holdings Limited (8428) AI Stock Analysis

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CBK Holdings Limited

(HKEX:8428)

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Rating:42Neutral

Price Target:HKD 0.65▼(-3.97% Downside)

Action:initiatedcoverage

Date:09/22/26

Low score driven primarily by weak financial performance from negative equity and persistent losses, compounded by unattractive valuation on negative P/E; neutral technicals provide limited offset.

Positive Factors

Revenue ReboundFY2026 revenue growth of 88.8% shows a meaningful rebound in the operating base and may improve scale if maintained. A larger revenue platform can support fixed-cost absorption and create a foundation for eventual margin recovery, although profitability has not yet followed.

Negative Factors

Persistent Losses and Margin CompressionThe company remains loss-making at gross, operating, and net levels, while gross margin has fallen sharply from roughly 55–58% in FY2022–FY2024 to 6.1%. This indicates weak earnings quality and no demonstrated sustainable path to positive operating profitability.

CBK Holdings Limited (8428) vs. iShares MSCI Hong Kong ETF (EWH)

Market Cap: HKD 76.14M
Dividend Yield: ―
Average Volume (3M): ―
Price to Earnings (P/E): -5.1
Beta (1Y): 0.20
Revenue Growth: ―
EPS Growth: 27.91%
Country: Hong Kong
Employees: 37
Sector: Consumer Cyclical
Sector Strength: 61
Industry: Restaurants

CBK Holdings Limited Business Overview & Revenue Model

Company Description

Operating as an investment holding company, CBK Holdings Limited's primary focus lies in providing culinary services, particularly through its network of hotpot dining establishments across Hong Kong. As of March 31, 2022, its operations also encompa...

CBK Holdings Limited Financial Statement Overview

Summary

Deeply negative equity signals technical insolvency and ongoing net losses persist despite recent revenue growth and positive cash flows.

Income Statement

42Neutral

Balance Sheet

18Very Negative

Cash Flow

58Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2024	Mar 2023	Mar 2023	Mar 2021
Income Statement
Total Revenue	59.85M	44.62M	30.80M	30.04M	19.37M	27.30M
Gross Profit	14.25M	2.74M	19.42M	17.05M	14.04M	15.80M
EBITDA	-5.92M	-4.57M	-7.10M	-14.32M	-9.04M	-25.56M
Net Income	-14.89M	-9.93M	-13.76M	-22.23M	-24.59M	-40.30M
Balance Sheet
Total Assets	26.75M	26.75M	11.08M	21.36M	20.59M	36.73M
Cash, Cash Equivalents and Short-Term Investments	6.88M	6.88M	1.64M	2.73M	7.80M	5.72M
Total Debt	3.20M	3.20M	5.90M	12.29M	4.58M	8.95M
Total Liabilities	37.58M	37.58M	16.84M	23.65M	12.84M	17.05M
Stockholders Equity	-12.16M	-12.16M	-5.88M	3.60M	7.88M	22.82M
Cash Flow
Free Cash Flow	674.00K	1.72M	-8.48M	-6.39M	-13.32M	-40.26M
Operating Cash Flow	1.72M	1.72M	-7.25M	-4.45M	-6.79M	-24.18M
Investing Cash Flow	-1.05M	-1.05M	-1.31M	-1.94M	-5.34M	-21.59M
Financing Cash Flow	4.60M	4.60M	2.40M	3.39M	17.20M	34.55M

CBK Holdings Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

HK:8428 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
HK:8447	51Neutral	HKD 51.00M	12.44	27.62%	―	-6.92%	―
HK:8495	50Neutral	HKD 96.00M	83.97	1.99%	―	-10.32%	72.73%
HK:8519	50Neutral	HKD 52.19M	19.57	138.69%	―	-34.46%	―
HK:8432	43Neutral	HKD 39.11M	1.86	82.00%	13.64%	2.70%	―
HK:8428	42Neutral	HKD 76.14M	-5.11	143.56%	―	―	27.91%
HK:8096	37Underperform	HKD 51.98M	-1.96	-102.38%	―	1.93%	-27.49%

* Consumer Cyclical Sector Average

Performance Comparison

HK:8428 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
HK:8428	CBK Holdings Limited	0.68	0.00	0.00%
HK:8096	Tasty Concepts Holding Limited	0.11	-0.01	-12.20%
HK:8432	Bar Pacific Group Holdings Ltd.	0.04	0.01	37.50%
HK:8447	MS Concept Ltd.	0.05	0.02	54.55%
HK:8495	1957 & Co. (Hospitality) Limited	0.25	-0.11	-30.56%
HK:8519	Jia Group Holdings Ltd.	0.36	0.04	12.50%

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: Sep 22, 2026

CBK Holdings Limited AI Stock Analysis

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