Jinli Group Holdings Ltd. (8429) AI Stock Analysis

Jinli Group Holdings Ltd.

(TWSE:8429)

Select Model

Rating:46Neutral

Price Target:TWD 5.50▲(0.36% Upside)

Action:initiatedcoverage

Date:11/10/26

The overall score is 46, reflecting a company with a very strong balance sheet but significant operational and market headwinds. The primary support comes from the company's fortress-like financial position with minimal debt. However, this is heavily outweighed by a deteriorating core business that is unprofitable at the operating level, declining revenues, and weak cash flow conversion. The bearish technical trend and an extremely high P/E ratio further pressure the score, indicating poor market sentiment and an unattractive valuation.

Positive Factors

Very Low LeverageNear-zero leverage gives Jinli a substantial financial buffer during periods of weaker demand and reduces exposure to interest costs or refinancing pressure. This conservative balance sheet can preserve strategic flexibility and support continued operations while profitability and revenue remain under pressure.

Negative Factors

Multi-Year Revenue DeclineA sustained revenue contraction signals weakening top-line momentum and limits the company’s ability to spread costs across a broader sales base. Continued declines could undermine scale, reduce operating leverage, and make the recent return to net profit harder to sustain.

Jinli Group Holdings Ltd. (8429) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 1.03B
Dividend Yield: ―
Average Volume (3M): 174.35K
Price to Earnings (P/E): 64.5
Beta (1Y): 0.40
Revenue Growth: -5.49%
EPS Growth: 6.64%
Country: TW
Employees: 800
Sector: General
Sector Strength: 55
Industry: Apparel - Manufacturers

Jinli Group Holdings Ltd. Business Overview & Revenue Model

Company Description

Jinli Group Holdings, established in 2010 and headquartered in Grand Cayman, Cayman Islands, operates primarily in China. The company focuses on the development, manufacturing, and commercialization of both casual and athletic footwear. Furthermore,...

Jinli Group Holdings Ltd. Financial Statement Overview

Summary

Financial performance is mixed. The balance sheet is exceptionally strong with near-zero debt (score 85), providing a robust safety net. However, this is offset by weak operational performance: the income statement shows declining revenue and an unprofitable core business (score 35), and cash flow generation is modest and volatile (score 40). The overall profile is of a financially safe company with significant earnings quality challenges.

Income Statement

35Negative

Balance Sheet

85Very Positive

Cash Flow

40Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Mar 2024	Mar 2023	Dec 2021
Income Statement
Total Revenue	142.40M	148.34M	132.58M	210.00M	212.67M	432.08M
Gross Profit	19.43M	22.32M	22.49M	8.41M	-50.38M	35.29M
EBITDA	-13.54M	-11.72M	19.20M	12.45M	-203.36M	73.01M
Net Income	16.11M	21.60M	-3.30M	-13.96M	-201.26M	22.88M
Balance Sheet
Total Assets	7.40B	7.09B	7.03B	6.81B	6.94B	7.09B
Cash, Cash Equivalents and Short-Term Investments	6.45B	6.17B	6.13B	5.88B	5.98B	6.05B
Total Debt	0	16.99M	9.22M	35.48M	40.05M	43.12M
Total Liabilities	714.34M	701.62M	711.77M	683.88M	681.29M	695.04M
Stockholders Equity	6.69B	6.39B	6.32B	6.13B	6.26B	6.39B
Cash Flow
Free Cash Flow	2.91M	13.44M	38.27M	26.75M	-161.70M	47.22M
Operating Cash Flow	11.57M	13.44M	38.27M	26.75M	-160.66M	51.31M
Investing Cash Flow	-1,840	-72.00K	-3.51M	-4.75M	8.65M	-11.35M
Financing Cash Flow	11.34M	7.77M	8.52M	-3.88M	-3.74M	-6.60M

Jinli Group Holdings Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:8429 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:4440	48Neutral	TWD 1.10B	8.50	―	5.97%	6.71%	77.95%
TW:8429	46Neutral	TWD 1.04B	64.52	―	―	-5.49%	6.64%
TW:1418	43Neutral	TWD 971.99M	-11.92	―	―	-8.93%	-763.88%
TW:8466	42Neutral	TWD 1.06B	-3.55	―	2.26%	-25.67%	-675.62%
TW:4433	39Underperform	TWD 971.60M	14.03	―	6.31%	-1.86%	―
TW:2939	38Underperform	TWD 1.11B	-15.95	―	―	-14.02%	63.19%

* General Sector Average

Performance Comparison

TW:8429 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:8429	Jinli Group Holdings Ltd.	5.48	-2.34	-29.92%
TW:1418	TongHwa Corporation	17.55	-2.95	-14.39%
TW:2939	Yong Yi International Group Co., Ltd.	24.05	-0.25	-1.03%
TW:4433	Singtex Industrial Co., Ltd.	15.30	-4.04	-20.90%
TW:4440	Yi Shin Textile Industrial Co., Ltd.	16.75	-0.50	-2.93%
TW:8466	M.J. International Co., Ltd.	13.40	-9.11	-40.46%

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

Jinli Group Holdings Ltd. AI Stock Analysis