San Neng Group Holdings Co., Ltd. (6671) AI Stock Analysis

San Neng Group Holdings Co., Ltd.

(TWSE:6671)

Select Model

Rating:69Neutral

Price Target:TWD 24.50▲(8.89% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is supported primarily by the strong balance sheet, positive free cash flow, and attractive valuation. These strengths are offset by weakening operating performance and bearish technical positioning, resulting in a moderately positive overall assessment.

Positive Factors

Low LeverageVery low leverage gives San Neng financial flexibility to withstand weaker demand, maintain operations, and fund selected investments without relying heavily on borrowing. The declining debt-to-equity ratio also limits interest burden and reduces balance-sheet risk over the next several quarters.

Negative Factors

Revenue ContractionThe move from growth to contraction signals weakening demand or reduced commercial activity across the company’s served markets. If this trend persists, slower revenue absorption can limit operating leverage, reduce investment capacity, and make recovery in earnings more dependent on cost control.

San Neng Group Holdings Co., Ltd. (6671) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 1.36B
Dividend Yield: 5.33%
Average Volume (3M): 24.91K
Price to Earnings (P/E): 10.4
Beta (1Y): 0.13
Revenue Growth: -9.22%
EPS Growth: -13.53%
Country: TW
Employees: 696
Sector: General
Sector Strength: 55
Industry: Household & Personal Products

San Neng Group Holdings Co., Ltd. Business Overview & Revenue Model

Company Description

San Neng Group Holdings Co., Ltd. engages in the manufacture and sale of baking equipment and utensils. Its products include baking molds and tools, eggbeaters, mixing bowls, pastry tubes, pastry bags, trolleys, revolving cake stands, kitchen supplie...

San Neng Group Holdings Co., Ltd. Financial Statement Overview

Summary

The company has a very strong, low-leverage balance sheet and positive free cash flow, but declining revenue, profitability, earnings, and operating cash flow reduce the overall financial score.

Income Statement

58Neutral

Balance Sheet

88Very Positive

Cash Flow

70Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.85B	2.00B	2.04B	1.91B	1.86B	2.07B
Gross Profit	651.83M	730.14M	771.21M	737.00M	675.10M	767.82M
EBITDA	234.31M	268.03M	331.31M	336.41M	295.29M	352.15M
Net Income	131.77M	143.91M	193.34M	175.60M	147.74M	212.79M
Balance Sheet
Total Assets	2.26B	2.25B	2.34B	2.20B	2.22B	2.34B
Cash, Cash Equivalents and Short-Term Investments	653.96M	646.23M	608.81M	584.56M	584.73M	559.13M
Total Debt	99.41M	119.68M	161.13M	158.52M	198.24M	251.11M
Total Liabilities	456.58M	466.85M	537.83M	488.95M	533.95M	638.31M
Stockholders Equity	1.78B	1.76B	1.79B	1.70B	1.68B	1.69B
Cash Flow
Free Cash Flow	174.96M	149.35M	235.09M	182.59M	255.59M	197.28M
Operating Cash Flow	212.08M	187.83M	305.60M	197.78M	274.62M	224.10M
Investing Cash Flow	-85.84M	36.56M	-89.33M	17.63M	-290.73M	-197.84M
Financing Cash Flow	-197.64M	-203.93M	-159.51M	-168.61M	-236.59M	-152.62M

San Neng Group Holdings Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:6671 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:6671	69Neutral	TWD 1.37B	10.37	―	5.33%	-9.22%	-13.53%
TW:1541	64Neutral	TWD 1.52B	7.17	―	2.59%	-30.14%	21.52%
TW:1540	59Neutral	TWD 1.50B	14.34	―	5.71%	-11.52%	60.68%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:4543	53Neutral	TWD 1.46B	9.18	―	0.85%	15.97%	―
TW:2947	51Neutral	TWD 1.29B	17.86	―	3.67%	6.50%	13.15%
TW:1626	40Underperform	TWD 1.44B	-2.82	―	―	-0.07%	-381.71%

* General Sector Average

Performance Comparison

TW:6671 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:6671	San Neng Group Holdings Co., Ltd.	22.50	-12.17	-35.11%
TW:1540	Roundtop Machinery Industries Co., Ltd	17.50	-4.58	-20.75%
TW:1541	Chang Type Industrial Co., Ltd.	19.30	-5.55	-22.33%
TW:1626	Airmate (Cayman) International Co., Ltd.	9.69	-2.81	-22.48%
TW:2947	Zhen Yu Hardware Co., Ltd.	54.50	-19.88	-26.72%
TW:4543	Man Zai Industrial Co., Ltd.	23.55	1.21	5.43%

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 10, 2026

San Neng Group Holdings Co., Ltd. AI Stock Analysis