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Top Standard Corp.
(8510)
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Rating:52Neutral
Price Target:
HK$0.30
▲(51.50% Upside)
Action:Upgraded
Date:09/09/26
The score is held down primarily by weak financial fundamentals—ongoing net losses, highly volatile performance history, and a stressed capital structure with negative equity—despite improved margins and better cash flow in 2025. Technicals are a key offset, with price showing strong trend strength above major moving averages and positive momentum, while valuation remains pressured due to loss-making earnings and no provided dividend yield.
Positive Factors
Gross margin recovery
The substantial gross-margin rebound indicates improved unit economics and operating performance in 2025. If maintained, stronger margins can support better earnings conversion, provide greater resilience against cost pressures, and help the company move toward sustainable profitability.
Negative Factors
Persistent unprofitability
Continued operating losses and a net loss show that the business has not yet converted its margin improvement into sustainable profitability. Ongoing losses can consume financial resources, limit reinvestment capacity, and make recovery dependent on further operational improvement.
Read all positive and negative factors
Positive Factors
Negative Factors
Gross margin recovery
The substantial gross-margin rebound indicates improved unit economics and operating performance in 2025. If maintained, stronger margins can support better earnings conversion, provide greater resilience against cost pressures, and help the company move toward sustainable profitability.
Read all positive factors
Top Standard Corp. (8510) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$44.91M
Dividend YieldN/A
Average Volume (3M)65.33K
Price to Earnings (P/E)―
Beta (1Y)0.22
Revenue Growth-6.60%
EPS Growth86.86%
CountryHK
Employees52
SectorConsumer Cyclical
Sector Strength84
IndustryRestaurants
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding238,878,720
10 Day Avg. Volume172,000
30 Day Avg. Volume65,333
Financial Highlights & Ratios
PEG Ratio0.38
Price to Book (P/B)-3.26
Price to Sales (P/S)1.78
P/FCF Ratio82.33
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
Top Standard Corp. Business Overview & Revenue Model
Company Description
Top Standard Corporation, an investment holding company, operates restaurants and bars in Hong Kong and South-east Asia. The company operates through two segments, Catering Service and Online Sale of Wines. It is involved in the operation of resta...
Top Standard Corp. Financial Statement Overview
Summary
Income Statement
32
Negative
Balance Sheet
18
Very Negative
Cash Flow
45
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 23.09M | 19.71M | 14.33M | 9.07M | 12.48M | 6.65M |
| Gross Profit | 5.32M | 4.66M | 320.00K | -1.75M | 1.14M | 2.04M |
| EBITDA | -923.00K | -306.00K | -10.55M | 7.63M | -6.37M | -11.49M |
| Net Income | -1.42M | -1.01M | -9.80M | 6.01M | -7.50M | -3.12M |
Balance Sheet | ||||||
| Total Assets | 6.81M | 10.54M | 6.41M | 15.47M | 10.11M | 16.71M |
| Cash, Cash Equivalents and Short-Term Investments | 1.68M | 1.68M | 2.58M | 2.42M | 1.18M | 2.98M |
| Total Debt | 4.46M | 9.81M | 8.24M | 9.42M | 7.46M | 6.54M |
| Total Liabilities | 26.47M | 29.51M | 26.90M | 23.74M | 25.89M | 23.69M |
| Stockholders Equity | -11.53M | -10.74M | -11.53M | -4.88M | -14.36M | -6.89M |
Cash Flow | ||||||
| Free Cash Flow | 2.30M | 425.00K | -1.25M | -8.49M | 1.10M | -14.87M |
| Operating Cash Flow | 530.00K | 456.00K | 1.06M | -2.11M | 6.87M | -14.75M |
| Investing Cash Flow | -1.18M | -318.00K | -2.36M | -6.49M | -5.85M | -173.00K |
| Financing Cash Flow | 1.83M | -982.00K | 1.46M | 9.83M | -3.06M | 8.88M |
Top Standard Corp. Technical Analysis
Positive
0.20
Price Trends
0.18
Positive
0.19
Positive
0.17
Positive
Market Momentum
0.01
Negative
87.52
Negative
90.48
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:8510, the sentiment is Positive. The current price of 0.2 is above the 20-day moving average (MA) of 0.17, above the 50-day MA of 0.18, and above the 200-day MA of 0.17, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 87.52 is Negative, neither overbought nor oversold. The STOCH value of 90.48 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:8510.
Top Standard Corp. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | HK$58.00M | 14.15 | 27.62% | 20.00% | -6.92% | ― | |
52 Neutral | HK$44.91M | -38.46 | 15.03% | ― | -6.60% | 86.86% | |
50 Neutral | HK$65.00M | -2.26 | -40.59% | 2.10% | -16.49% | 43.73% | |
48 Neutral | HK$84.48M | 73.33 | 1.99% | ― | -10.32% | 72.73% | |
43 Neutral | HK$34.29M | 28.57 | 10.75% | 15.00% | 2.70% | ― | |
37 Underperform | HK$54.86M | -1.82 | -112.50% | ― | 1.93% | -27.49% |
* Consumer Cyclical Sector Average
HK:8510
Top Standard Corp.
0.30
0.20
203.03%
HK:1443
Fulum Group Holdings Ltd.
0.07
<0.01
4.84%
HK:8096
Tasty Concepts Holding Limited
0.11
0.02
15.15%
HK:8432
Bar Pacific Group Holdings Ltd.
0.04
<0.01
29.03%
HK:8447
MS Concept Ltd.
0.06
0.02
52.63%
HK:8495
1957 & Co. (Hospitality) Limited
0.22
0.00
0.00%
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.