Asia Plastic Recycling Holding Limited (1337) AI Stock Analysis

Asia Plastic Recycling Holding Limited

(TWSE:1337)

Select Model

Rating:37Underperform

Price Target:TWD 3.50▼(-10.71% Downside)

Action:initiatedcoverage

Date:11/10/26

The overall score is at the minimum of 37, reflecting a company in severe financial distress. The most significant factor is the fundamentally broken business model, evidenced by deeply negative and worsening gross margins and massive cash burn. This is compounded by a bearish technical trend with the stock in a sustained downtrend and deeply oversold conditions. The negative P/E ratio and lack of a dividend further confirm the lack of investment merit. The company faces a high risk of continued value destruction.

Positive Factors

Equity BaseA meaningful equity base provides some loss-absorption capacity and reduces immediate reliance on creditors while the company works through weak operations. This cushion can support continuity and preserve strategic flexibility, although it does not offset persistent losses or cash burn.

Negative Factors

Declining Revenue and ProfitabilityPersistent negative gross profit and deeply negative operating and net margins indicate that the business model is not currently converting sales into viable earnings. The multi-year revenue decline further weakens operating leverage and makes a durable return to profitability harder to establish.

Asia Plastic Recycling Holding Limited (1337) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 1.05B
Dividend Yield: ―
Average Volume (3M): 332.94K
Price to Earnings (P/E): -2.1
Beta (1Y): 0.24
Revenue Growth: -13.60%
EPS Growth: -6.67%
Country: TW
Employees: 1,939
Sector: General
Sector Strength: 55
Industry: Chemicals - Specialty

Asia Plastic Recycling Holding Limited Business Overview & Revenue Model

Company Description

Asia Plastic Recycling Holding Limited engages in the research and development, manufacture, and sale of ethylene-vinyl acetate copolymer foam materials through recycling and reuse of EVA and PE waste plastic scraps in China. Its EVA foam materials a...

Asia Plastic Recycling Holding Limited Financial Statement Overview

Summary

Financial performance is critically weak. The income statement shows a deeply negative and worsening gross margin (-36.9%), leading to a net loss margin of -70.4%. The cash flow statement reveals massive operational cash burn, with free cash flow deeply negative at -TWD 944.9M. The balance sheet, while still having a positive equity base, is deteriorating with new debt of TWD 1.38B and a negative return on equity. The overall financial health is in a state of severe distress.

Income Statement

8Very Negative

Balance Sheet

35Negative

Cash Flow

10Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	602.28M	663.54M	817.36M	772.03M	643.60M	1.11B
Gross Profit	-204.29M	-244.82M	-98.89M	-153.33M	-226.82M	-194.72M
EBITDA	-154.33M	-171.97M	-288.98M	-248.33M	-311.66M	-246.64M
Net Income	-490.16M	-466.89M	-414.49M	-411.49M	-530.57M	-476.14M
Balance Sheet
Total Assets	6.36B	6.33B	6.30B	4.58B	5.07B	5.51B
Cash, Cash Equivalents and Short-Term Investments	1.06B	1.52B	1.89B	1.14B	2.52B	2.82B
Total Debt	1.40B	1.38B	1.41B	0	0	0
Total Liabilities	2.78B	2.67B	2.17B	181.94M	173.89M	207.85M
Stockholders Equity	3.58B	3.67B	4.14B	4.40B	4.89B	5.30B
Cash Flow
Free Cash Flow	-1.01B	-944.88M	-1.17B	-1.35B	-347.77M	-357.51M
Operating Cash Flow	-201.58M	-340.49M	-206.34M	-263.79M	-329.88M	-315.39M
Investing Cash Flow	-479.26M	-3.25M	-491.19M	225.19M	-17.89M	392.12M
Financing Cash Flow	-66.33M	-30.51M	1.40B	0	0	145.10M

Asia Plastic Recycling Holding Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:1337 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:6771	68Neutral	TWD 1.12B	12.51	―	8.85%	-11.55%	-29.64%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:8440	53Neutral	TWD 967.41M	18.84	―	2.86%	-6.00%	659.16%
TW:6971	48Neutral	TWD 986.03M	10.67	―	5.88%	―	―
TW:4433	39Underperform	TWD 971.60M	14.03	―	6.31%	-1.86%	―
TW:1337	37Underperform	TWD 1.05B	-2.14	―	―	-13.60%	-6.67%

* General Sector Average

Performance Comparison

TW:1337 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:1337	Asia Plastic Recycling Holding Limited	3.92	-1.19	-23.29%
TW:4433	Singtex Industrial Co., Ltd.	15.85	-3.73	-19.05%
TW:6771	Ping Ho Environmental.Technology Co. Ltd.	36.15	-8.93	-19.80%
TW:6971	Hui Min Environmental Tech Corp.	25.50	-6.35	-19.94%
TW:7578	Revivegen Environmental Technology Co., Ltd.	23.75	-5.10	-17.67%
TW:8440	E&E Recycling, Inc.	19.20	-6.14	-24.22%

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: Nov 09, 2026

Asia Plastic Recycling Holding Limited AI Stock Analysis