Chi Hua Fitness Co., Ltd. (1593) AI Stock Analysis

Chi Hua Fitness Co., Ltd.

(TPEx:1593)

Select Model

Rating:63Neutral

Price Target:TWD 32.00▲(1.11% Upside)

Action:initiatedcoverage

Date:11/09/26

Attractive valuation and solid cash flows are primary positives, tempered by weak technicals and moderate leverage.

Positive Factors

Revenue GrowthContinued revenue expansion across the last two reported years indicates ongoing demand for the company’s fitness and leisure services. Top-line growth alongside improving net income provides a durable base for reinvestment, member retention initiatives, and gradual earnings growth over the next several quarters.

Negative Factors

Margin CompressionFalling operating and EBITDA margins while revenue continues to grow suggests that higher costs or an unfavorable service mix is absorbing part of the sales benefit. If this pattern persists, it could limit earnings conversion, reduce reinvestment capacity, and weaken the durability of future profit growth.

Chi Hua Fitness Co., Ltd. (1593) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 1.27B
Dividend Yield: 6.32%
Average Volume (3M): 19.20K
Price to Earnings (P/E): 7.2
Beta (1Y): 0.30
Revenue Growth: 12.77%
EPS Growth: 123.09%
Country: TW
Employees: 282
Sector: General
Sector Strength: 55
Industry: Leisure

Chi Hua Fitness Co., Ltd. Business Overview & Revenue Model

Company Description

Chi Hua Fitness Co., Ltd. is a global enterprise specializing in the production and distribution of fitness equipment. The company offers a comprehensive range of components and systems for exercise machinery. This includes a diverse array of brakes,...

Chi Hua Fitness Co., Ltd. Financial Statement Overview

Summary

Revenue recovery and strong cash flows support moderate health, offset by compressed margins and rising leverage.

Income Statement

63Positive

Balance Sheet

50Neutral

Cash Flow

80Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.32B	1.26B	1.12B	1.07B	874.89M	1.18B
Gross Profit	400.10M	368.23M	356.97M	331.72M	252.72M	328.29M
EBITDA	166.46M	175.23M	189.15M	163.47M	159.17M	233.69M
Net Income	165.76M	86.91M	67.63M	50.79M	188.30M	171.31M
Balance Sheet
Total Assets	1.89B	2.14B	2.06B	2.02B	2.11B	1.65B
Cash, Cash Equivalents and Short-Term Investments	803.87M	591.68M	521.08M	491.81M	457.74M	311.60M
Total Debt	87.12M	459.98M	421.95M	441.97M	448.82M	300.96M
Total Liabilities	416.75M	713.76M	643.16M	658.79M	725.86M	518.52M
Stockholders Equity	1.37B	1.33B	1.33B	1.30B	1.33B	1.12B
Cash Flow
Free Cash Flow	136.34M	141.02M	118.84M	137.11M	-57.09M	-373.07M
Operating Cash Flow	146.72M	147.92M	127.01M	162.98M	136.80M	119.34M
Investing Cash Flow	429.29M	-89.05M	-71.57M	-39.96M	-29.81M	-405.58M
Financing Cash Flow	-434.35M	-46.61M	-99.23M	-99.66M	10.45M	145.84M

Chi Hua Fitness Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:1593 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:2235	64Neutral	TWD 1.02B	21.44	―	5.18%	-7.77%	4.84%
TW:1593	63Neutral	TWD 1.21B	7.19	―	6.32%	12.77%	123.09%
TW:4584	61Neutral	TWD 1.07B	20.88	―	5.60%	-16.79%	-50.73%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:4528	45Neutral	TWD 1.18B	-20.48	―	1.46%	-3.33%	-515.57%
TW:1805	44Neutral	TWD 1.31B	71.17	―	―	-59.33%	-94.38%
TW:8933	26Underperform	TWD 1.31B	-3.26	―	―	-14.85%	27.37%

* General Sector Average

Performance Comparison

TW:1593 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:1593	Chi Hua Fitness Co., Ltd.	31.65	5.81	22.48%
TW:1805	Better Life Group Co., Ltd.	9.70	-2.55	-20.82%
TW:2235	I Yuan Precision Industrial Co. Ltd.	28.95	-3.31	-10.25%
TW:4528	Chian Hsing Forging Industrial Co., Ltd.	13.70	-3.25	-19.17%
TW:4584	Jufan Industrial Co., Ltd.	35.70	-11.88	-24.96%
TW:8933	Ideal Bike Corporation	3.98	-2.02	-33.67%

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

Chi Hua Fitness Co., Ltd. AI Stock Analysis