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GHW International (9933) AI Stock Analysis

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HK:9933

GHW International

(HKEX:9933)

Select Model
Rating:46Neutral
Price Target:HKD 1.50â–¼(-10.71% Downside)
Action:reiterated
Date:10/01/26

The overall score reflects improving leverage and revenue growth overshadowed by razor-thin margins, weak and volatile cash flows, and low profitability, making financial performance the key concern. Technical signals are neutral to slightly negative and the valuation appears demanding relative to current earnings power, reinforcing a cautious view.

Positive Factors
Strong Revenue GrowthStrong revenue expansion indicates growing sales activity across the company’s chemical distribution operations. If maintained, this scale can deepen customer relationships, improve purchasing efficiency, and provide a broader base from which to rebuild profitability over the next several quarters.
Negative Factors
Severe Margin CompressionThe sharp decline in gross margin and near-break-even net margin shows that revenue growth is not translating efficiently into earnings. Persistently thin profitability leaves little buffer for cost pressure or product-mix changes and limits the company’s ability to fund growth from operations.

GHW International (9933) vs. iShares MSCI Hong Kong ETF (EWH)

-30%-20%-10%0%10%20%HK:9933-6.67%EWH+6.73%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
HKD 1.58B
Dividend Yield
―
Average Volume (3M)
197.67K
Price to Earnings (P/E)
38.5
Beta (1Y)
0.03
Revenue Growth
17.78%
EPS Growth
139.20%
Country
Hong Kong
Employees
1,123
Sector
Basic Materials
Sector Strength
61
Industry
Chemicals - Specialty

GHW International Business Overview & Revenue Model

Company Description

GHW International is an investment holding company that manufactures and globally distributes a variety of chemical and pharmaceutical products. Its operations reach across the People's Republic of China, Europe, Vietnam, other Asian regions, and var...

How the Company Makes Money

GHW International makes money primarily by selling and distributing industrial chemicals and raw materials to business customers. Its revenue model is mainly transaction-based: it purchases chemicals from upstream producers/principals and resells the...

GHW International Financial Statement Overview

Summary

Revenue and assets are growing and leverage has improved, but margins are very thin, cash flows are volatile, and overall profitability remains weak, limiting financial strength.

Income Statement

45Neutral

Balance Sheet

55Neutral

Cash Flow

35Negative
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue4.49B4.11B3.86B3.22B3.38B2.83B
Gross Profit439.87M360.87M391.02M336.98M657.90M476.12M
EBITDA102.99M45.02M48.01M23.35M334.86M180.70M
Net Income35.07M12.72M12.75M2.72M274.63M130.71M
Balance Sheet
Total Assets2.17B2.07B2.05B1.74B1.68B1.37B
Cash, Cash Equivalents and Short-Term Investments136.85M167.57M101.73M77.84M103.30M58.02M
Total Debt893.03M859.52M862.35M718.32M663.43M700.00M
Total Liabilities1.50B1.43B1.42B1.16B1.08B1.03B
Stockholders Equity627.42M599.45M585.78M581.42M602.62M339.08M
Cash Flow
Free Cash Flow17.11M95.31M-63.40M-19.81M-40.29M-337.51M
Operating Cash Flow155.64M240.47M61.04M120.07M234.08M-122.53M
Investing Cash Flow-112.36M-149.35M-158.51M-140.43M-197.72M-164.18M
Financing Cash Flow-46.07M-79.27M126.98M-4.97M9.07M284.99M

GHW International Technical Analysis

Technical Analysis SentimentNeutral
Last Price1.68

Price Trends

50DMA1.66Positive
100DMA1.64Positive
200DMA1.65Positive

Market Momentum

MACD0.01Negative
RSI52.95Neutral
STOCH91.23Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9933, the sentiment is Neutral. The current price of 1.68 is above the 20-day moving average (MA) of 1.67, above the 50-day MA of 1.66, and above the 200-day MA of 1.65, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 52.95 is Neutral, neither overbought nor oversold. The STOCH value of 91.23 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:9933.

GHW International Peers Comparison

Overall Rating

UnderperformOutperform
Sector (61)

Financial Indicators

HK:9933 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
HK:0746HK:074682OutperformHKD 3.96B6.748.77%7.42%2.52%2.16%
HK:0189HK:018973OutperformHKD 15.44B6.9212.67%3.35%7.79%48.48%
HK:1702HK:170270OutperformHKD 1.02B4.849.19%2.42%3.26%181.56%
Sector *61Neutral$10.43B7.12-0.05%2.87%2.86%-36.73%
HK:2198HK:219854NeutralHKD 3.91B4.1213.63%4.75%0.90%16.54%
HK:9933HK:993346NeutralHKD 1.70B38.485.72%―17.78%139.20%
HK:1907HK:190740UnderperformHKD 6.81B23.531.89%1.26%-1.88%―

* Basic Materials Sector Average

Performance Comparison

0%50%100%HK:9933HK:1907HK:1702HK:0189HK:2198HK:0746Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
HK:9933 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
HK:9933GHW International1.68-0.09-5.08%
HK:1907China Risun Group Ltd.1.50-0.90-37.47%
HK:1702Dongguang Chemical Ltd.1.65-0.39-19.04%
HK:0189Dongyue Group Limited8.96-1.87-17.30%
HK:2198China Sanjiang Fine Chemicals Co., Ltd.3.150.3512.60%
HK:0746Lee & Man Chemical Co. Ltd.4.71-0.69-12.83%

GHW International Corporate Events

GHW International Grants New Share Awards to Directors and Staff

Sep 16, 2026

GHW International has granted a total of 1,942,500 awarded shares to five directors and 223 employees, including connected persons, under its share award scheme adopted in March 2023. The shares, representing about 0.19% of the company’s issued capit...

GHW International Buys Malaysian Industrial Land in Discloseable Transaction

Aug 28, 2026

GHW International has agreed to acquire a parcel of land in Bandar Gebeng, Negeri Pahang, Malaysia, through its wholly owned Malaysian subsidiary for approximately RM46.1 million. The site’s rectangular configuration is considered preferable to a pre...

GHW International Delivers Profit Surge in First-Half 2026 but Withholds Interim Dividend

Aug 25, 2026

GHW International reported a strong set of unaudited interim results for the six months ended 30 June 2026, with group revenue rising 20.3% year on year to approximately RMB2.23 billion and gross profit jumping 46.3% to RMB249.5 million. Net profit s...

GHW International Flags Sharp Profit Jump on Strong Chemical Sales

Aug 18, 2026

GHW International has issued a positive profit alert, projecting net profit of RMB25 million to RMB35 million for the first half of 2026 versus RMB7.9 million a year earlier. The jump in earnings is driven by strong performance and higher selling pri...

GHW International Sets Board Meeting to Review 2026 Interim Results and Dividend

Aug 12, 2026

GHW International has scheduled a board meeting for 25 August 2026 to review and approve the interim financial results for the six months ended 30 June 2026, ahead of their publication. The board will also consider whether to recommend an interim div...

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 01, 2026