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Wah Wo Holdings Group Limited
(9938)
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Rating:60Neutral
Price Target:
HK$0.25
▲(92.31% Upside)
Action:Reiterated
Date:08/28/26
The score is driven primarily by mixed financial performance: a strong balance sheet and generally positive (but volatile) cash generation are offset by inconsistent profitability and a return to net losses in 2026 with declining revenue. Technicals are moderately positive with the price above key moving averages, but momentum is not strongly confirmed. Valuation is pressured by a negative P/E, reflecting loss-making conditions.
Positive Factors
Conservative balance sheet
The conservative balance sheet reduces financial risk and gives Wah Wo greater flexibility through cyclical construction markets. Modest debt limits financing pressure, while the sizable equity base provides capacity to support operations and pursue opportunities without relying heavily on additional borrowing.
Negative Factors
Declining and uneven revenue
The decline in 2026 revenue and uneven top-line performance indicate limited revenue stability, making forward earnings less predictable. Sustained weakness in project activity or revenue conversion could reduce operating leverage and make it harder for the company to absorb fixed costs or maintain consistent profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
The conservative balance sheet reduces financial risk and gives Wah Wo greater flexibility through cyclical construction markets. Modest debt limits financing pressure, while the sizable equity base provides capacity to support operations and pursue opportunities without relying heavily on additional borrowing.
Read all positive factors
Wah Wo Holdings Group Limited (9938) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$243.00M
Dividend YieldN/A
Average Volume (3M)396.17K
Price to Earnings (P/E)―
Beta (1Y)1.02
Revenue Growth-14.83%
EPS Growth-129.76%
CountryHK
Employees172
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding1,000,000,000
10 Day Avg. Volume178,500
30 Day Avg. Volume396,166
Financial Highlights & Ratios
PEG Ratio0.21
Price to Book (P/B)0.68
Price to Sales (P/S)0.34
P/FCF Ratio5.55
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
Wah Wo Holdings Group Limited Business Overview & Revenue Model
Company Description
Wah Wo Holdings Group Limited functions as an investment holding entity, specializing in aluminum-related solutions and services across Hong Kong. The company primarily focuses on exterior architectural elements, providing façade works that encomp...
How the Company Makes Money
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Wah Wo Holdings Group Limited Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
78
Positive
Cash Flow
67
Positive
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 410.61M | 482.12M | 238.43M | 208.35M | 223.06M |
| Gross Profit | 47.15M | 55.73M | 21.25M | 25.26M | 16.37M |
| EBITDA | 16.38M | 26.35M | -58.54M | 7.71M | 4.28M |
| Net Income | -5.02M | 16.83M | -55.11M | 2.85M | 1.42M |
Balance Sheet | |||||
| Total Assets | 302.52M | 280.37M | 269.77M | 281.59M | 267.75M |
| Cash, Cash Equivalents and Short-Term Investments | 109.80M | 53.21M | 31.58M | 63.55M | 62.78M |
| Total Debt | 797.00K | 6.34M | 10.13M | 437.00K | 1.73M |
| Total Liabilities | 100.04M | 73.00M | 79.14M | 35.85M | 24.86M |
| Stockholders Equity | 202.49M | 207.36M | 190.63M | 245.75M | 242.89M |
Cash Flow | |||||
| Free Cash Flow | 24.87M | 44.45M | -10.88M | 42.69M | 55.23M |
| Operating Cash Flow | 24.87M | 44.82M | -9.95M | 45.65M | 55.41M |
| Investing Cash Flow | -640.00K | -21.64M | -28.61M | -43.58M | -65.94M |
| Financing Cash Flow | -6.51M | -678.00K | 5.71M | -1.29M | -1.52M |
Wah Wo Holdings Group Limited Technical Analysis
Negative
0.13
Price Trends
0.26
Negative
0.25
Negative
0.20
Positive
Market Momentum
>-0.01
Positive
40.63
Neutral
19.76
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9938, the sentiment is Negative. The current price of 0.13 is below the 20-day moving average (MA) of 0.25, below the 50-day MA of 0.26, and below the 200-day MA of 0.20, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 40.63 is Neutral, neither overbought nor oversold. The STOCH value of 19.76 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:9938.
Wah Wo Holdings Group Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | HK$243.00M | -47.60 | -2.42% | ― | -14.83% | -129.76% | |
53 Neutral | HK$404.48M | -23.00 | -13.58% | ― | 4.31% | -426.67% | |
50 Neutral | HK$185.05M | 31.29 | 1.14% | 1.96% | -22.26% | -33.78% | |
43 Neutral | HK$98.84M | -0.98 | -16.95% | ― | 6.83% | 77.80% | |
41 Neutral | HK$233.09M | -0.72 | 118.96% | 3.51% | -50.93% | 43.67% |
* Industrials Sector Average
HK:9938
Wah Wo Holdings Group Limited
0.24
0.12
101.69%
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0.16
-0.01
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1.44
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105.00%
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Million Hope Industries Holdings Ltd.
0.46
-0.02
-4.96%
HK:3313
ArtGo Holdings Ltd.
0.68
-0.91
-57.28%
Wah Wo Holdings Group Limited Corporate Events
Wah Wo Holdings Shareholders Approve AGM Resolutions and New Auditor
Sep 30, 2026
Shareholders of Wah Wo Holdings Group Limited unanimously approved all resolutions at the annual general meeting held on September 30, 2026, including receipt of the 2025-26 audited accounts, re-election of directors and authority for the board to...
Wah Wo Details Governance Process for Auditor Change, Backs Wilson & Partners CPA
Sep 24, 2026
Wah Wo Holdings Group Limited has detailed the internal governance framework it follows for appointing, reappointing and removing its external auditor, highlighting the central role of its audit committee and its adherence to published terms of re...
Wah Wo Holdings Sets 2026 AGM to Approve Results and Expand Share Issue Mandate
Aug 31, 2026
Wah Wo Holdings Group Limited has called its annual general meeting for 30 September 2026 in Hong Kong, where shareholders will review and adopt the audited consolidated financial statements and directors’ and auditor’s reports for the...
Wah Wo Proposes Overhaul of Constitutional Documents to Meet New Regulatory Standards
Aug 27, 2026
Wah Wo Holdings Group Limited plans to replace its existing memorandum and articles of association with a third amended and restated version to align with updated Cayman Islands laws and Hong Kong Listing Rules. The changes focus on regulatory upd...
Wah Wo Holdings to Replace Long-Standing Auditor in Governance Refresh
Aug 26, 2026
Wah Wo Holdings Group Limited has announced that its long-time auditor RSM Hong Kong will retire at the conclusion of the annual general meeting scheduled for 30 September 2026 and will not seek reappointment. The board and audit committee emphasi...
Wah Wo Holdings Further Delays AGM and Resets Book Closure Dates
Aug 20, 2026
Wah Wo Holdings Group Limited has announced a further postponement of its annual general meeting, moving the date from 22 September 2026 to 30 September 2026, to allow more time to finalize the AGM notice and circular. The rescheduling reflects an...
Wah Wo Clarifies New AGM Date and Book Closure Schedule
Jul 23, 2026
Wah Wo Holdings Group Limited has issued a clarification regarding the schedule of its annual general meeting and the associated book closure period for shareholders. The company reaffirmed its governance arrangements by detailing the board compos...
Wah Wo Holdings Postpones AGM and Resets Book Closure Dates
Jul 21, 2026
Wah Wo Holdings Group Limited has postponed its annual general meeting, originally set for 20 August 2026, to 22 September 2026 at 10:00 a.m. in response to adjustments in the company’s business arrangements, signalling a need to align share...
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.