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GHW International
(9933)
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Rating:44Neutral
Price Target:
HK$1.50
▼(-10.18% Downside)
Action:Reiterated
Date:10/01/26
The score is primarily held down by weak financial quality: margins have compressed to near break-even levels and leverage remains meaningful relative to current earnings power, despite strong revenue growth and a 2025 rebound in free cash flow. Technicals are neutral-to-weak with the stock below key moving averages and slightly negative MACD. Valuation is also a headwind given a ~37x P/E with no dividend yield provided.
Positive Factors
Strong Revenue Growth
Strong 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 Compression
The 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.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
Strong 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.
Read all positive factors
GHW International (9933) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.67B
Dividend YieldN/A
Average Volume (3M)63.73K
Price to Earnings (P/E)38.0
Beta (1Y)-0.20
Revenue Growth17.78%
EPS Growth139.20%
CountryHK
Employees1,123
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)0.04
Shares Outstanding1,009,500,000
10 Day Avg. Volume88,800
30 Day Avg. Volume63,733
Financial Highlights & Ratios
PEG Ratio-41.65
Price to Book (P/B)2.55
Price to Sales (P/S)0.37
P/FCF Ratio16.03
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
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 ...
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 ...
GHW International Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
45
Neutral
Cash Flow
41
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.49B | 4.11B | 3.86B | 3.22B | 3.38B | 2.83B |
| Gross Profit | 439.87M | 360.87M | 391.02M | 336.98M | 657.90M | 476.12M |
| EBITDA | 99.45M | 38.40M | 39.42M | 17.34M | 329.44M | 176.11M |
| Net Income | 35.07M | 12.72M | 12.75M | 2.72M | 274.63M | 130.71M |
Balance Sheet | ||||||
| Total Assets | 2.17B | 2.07B | 2.05B | 1.74B | 1.68B | 1.37B |
| Cash, Cash Equivalents and Short-Term Investments | 136.85M | 167.57M | 101.73M | 77.84M | 103.30M | 58.02M |
| Total Debt | 893.03M | 859.52M | 862.35M | 718.32M | 663.43M | 700.00M |
| Total Liabilities | 1.50B | 1.43B | 1.42B | 1.16B | 1.08B | 1.03B |
| Stockholders Equity | 627.42M | 599.45M | 585.78M | 581.42M | 602.62M | 339.08M |
Cash Flow | ||||||
| Free Cash Flow | 17.11M | 95.31M | -63.40M | -19.81M | -40.29M | -337.51M |
| Operating Cash Flow | 155.64M | 240.47M | 61.04M | 120.07M | 234.08M | -122.53M |
| Investing Cash Flow | -112.36M | -149.35M | -158.51M | -140.43M | -197.72M | -164.18M |
| Financing Cash Flow | -46.07M | -79.27M | 126.98M | -4.97M | 9.07M | 284.99M |
GHW International Technical Analysis
Positive
1.67
Price Trends
1.65
Negative
1.62
Positive
1.65
Negative
Market Momentum
>-0.01
Negative
52.11
Neutral
76.28
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9933, the sentiment is Positive. The current price of 1.67 is above the 20-day moving average (MA) of 1.64, above the 50-day MA of 1.65, and above the 200-day MA of 1.65, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 52.11 is Neutral, neither overbought nor oversold. The STOCH value of 76.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:9933.
GHW International Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | HK$3.58B | 6.24 | 8.77% | 8.01% | 2.52% | 2.16% | |
72 Outperform | HK$1.07B | 5.08 | 9.19% | 2.32% | 3.26% | 181.56% | |
70 Outperform | HK$18.37B | 8.70 | 12.67% | 2.68% | 7.79% | 48.48% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | HK$4.24B | 4.72 | 13.63% | 4.16% | 0.90% | 16.54% | |
44 Neutral | HK$1.67B | 37.97 | 5.72% | ― | 17.78% | 139.20% | |
41 Neutral | HK$7.39B | 26.60 | 1.89% | 1.12% | -1.88% | ― |
* Basic Materials Sector Average
HK:9933
GHW International
1.65
-0.48
-22.54%
HK:1907
China Risun Group Ltd.
1.70
-0.64
-27.50%
HK:1702
Dongguang Chemical Ltd.
1.73
0.07
4.17%
HK:0189
Dongyue Group Limited
11.21
-1.14
-9.27%
HK:2198
China Sanjiang Fine Chemicals Co., Ltd.
3.61
0.70
23.97%
HK:0746
Lee & Man Chemical Co. Ltd.
4.37
-0.43
-9.03%
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 iss...
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...
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 profi...
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 ...
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 ...
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.