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Changhong Jiahua Holdings Limited

Changhong Jiahua Holdings Limited

3991.HK
Changhong Jiahua Holdings LimitedHK flagHong Kong Stock Exchange
0.93
HKD
- -
- -
1.35BMarket Cap
Changhong Jiahua Holdings Limited
3991.HK
(Hong Kong Stock Exchange)

Recent

price

0.93

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
8.22
8.3
6.69
8.22
7.09
13.64
13.11
14.45
15.19
20.62
27.76
30.63
26.36
25.55
27.49
30.13
11.67
Revenue per Share
0.05
0.03
0.07
0.08
0.07
0.05
0.09
0.1
0.11
0.11
0.13
0.16
0.14
0.14
0.15
0.16
0.11
Basic EPS, GAAP
-0.23
0.67
-0.07
0.13
-0.01
-0.7
-0.28
-0.69
-0.32
-0.94
-1.55
0.31
-1.46
-2.02
-2.27
-0.43
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
0.04
0.04
0.05
0.05
0.05
0.07
0.09
0.09
0.09
0.09
0.09
- -
Dividend per Share
0.01
0.04
0.06
0.14
0.21
0.44
0.6
0.76
0.92
1.11
1.35
1.63
1.86
2.09
2.32
2.57
0.63
Book Value per Share
0.1
0.15
0.39
0.46
0.5
0.86
0.91
1.08
1.17
1.29
1.57
1.83
1.8
1.92
2.03
2.29
0.73
Tangible Book Value per Share
318
328
2,231
2,231
2,476
1,455
1,455
1,455
1,455
1,455
1,455
1,455
1,455
1,455
1,455
1,455
2,571
Basic Weighted Avg Shares
2,614
2,724
14,929
18,344
17,559
19,839
19,063
21,024
22,098
30,000
40,381
44,558
38,339
37,171
39,986
43,826
30,000
Sales/Revenue/Turnover
0.96
0.73
2.01
1.96
1.89
1.76
1.94
1.79
1.82
1.6
1.33
1.6
1.72
1.81
1.69
1.57
1.54
Operating Margin (%)
- -
- -
8
9
9
9
7
6
6
15
16
17
18
19
19
20
- -
Depreciation Expense
17
10
155
178
185
132
233
245
270
289
345
413
366
361
379
401
289
Net Income, GAAP
15.58
22.18
27.99
22.9
28.96
26.49
27.53
25.47
24.57
28.06
16.87
18.37
17.13
15.89
8.71
16.03
28.06
Effective Tax Rate (%)
0.66
0.38
1.04
0.97
1.05
0.66
1.22
1.16
1.22
0.96
0.86
0.93
0.95
0.97
0.95
0.91
0.96
Profit Margin (%)
31
48
858
1,573
1,253
1,244
1,324
1,554
1,645
1,820
2,247
2,612
2,571
2,725
2,860
3,223
1,820
Working Capital
- -
- -
- -
504
- -
- -
- -
- -
- -
- -
5
5
5
8
13
6
- -
LT Debt
31
48
865
1,083
1,269
1,274
1,357
1,636
1,733
1,899
2,308
2,680
2,630
2,813
2,979
3,356
1,899
Total Equity
6.92
6.55
21.33
13.95
11.16
13.27
15.81
14.91
12.73
12.22
11.76
13.55
11.96
11.55
11.77
9.9
11.77
Return on Invested Capital (%)
7.8
7.78
27.39
15.69
15.26
11.76
21.83
19.6
16.35
14.5
13.7
14.4
12.25
11.27
11.28
8.97
14.5
Return on Capital (%)
- -
128.27
198.39
79.15
45.04
12.9
17.46
14.04
12.56
11.1
10.94
10.82
8.15
7.1
6.69
6.38
19.62
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Jun'19
Sep'19
Dec'19
ST Debt
1,340
- -
1,008
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,455
- -
1,455
Market Capitalization
875
910
1,277

Working Capital

FRC

•

in mil. unless spec.
Jun'19
Sep'19
Dec'19
Total Current Assets
6,146
- -
7,202
Cash, Cash Equivalents & STI
431
- -
712
Accounts Receivable, Net
2,581
- -
2,087
Inventories
2,072
- -
2,115
Total Current Liabilities
4,426
- -
5,382
Payables & Accruals
- -
- -
- -
ST Debt
1,340
- -
1,008
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
10.39%
7.95%
12.65%
Free Cash Flow
-43.01%
-143.76%
-81.16%
Net Income, GAAP
13.63%
3.52%
5.69%
Sales/Revenue/Turnover
9.24%
2.1%
9.6%
Total Cash Common Dividend
78.78%
2.35%
25.95%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
37,171
2024
- -
- -
- -
- -
39,986
2025
- -
- -
- -
- -
43,826

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
0.14
2024
- -
- -
- -
- -
0.15
2025
- -
- -
- -
- -
0.16

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
0.09
2024
- -
- -
- -
- -
0.09
2025
- -
- -
- -
- -
0.09
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Business
Changhong Jiahua Holdings Limited is an investment holding company principally engaged in the distribution of information and communications technology (ICT) products and services. It operates through three main segments: ICT Consumer Products, ICT Corporate Products, and Others. The ICT Consumer Products segment distributes products including personal computers, digital products, and IT accessories. The ICT Corporate Products segment covers storage products, minicomputers, networking products, personal computer servers, intelligent building management systems, and unified communications and contact center products. The Others segment focuses on smartphone distribution, development of own-brand intelligent terminals, mobile location-based service products, warranty packages, professional integrated ICT solutions, and provision of ICT services. The company primarily serves markets in Mainland China and operates through a network of subsidiaries. Founded in 1998 and headquartered in Hong Kong, Changhong Jiahua Holdings has recently been the subject of a major privatization proposal by Hongtu Investment Co., Limited announced in 2025, entailing a potential delisting from the Hong Kong Stock Exchange pending regulatory approval. This strategic move includes share restructuring involving Fit Generation and Changhong Hong Kong. Concurrently, in 2024 and 2025, the company has pursued business expansion by strengthening omni-channel sales strategies including penetration into lower-tier markets, enhancing online store operations, and improving integrated online-offline retail models to maintain leading market share in its PC business. It continues to leverage big data and AI technologies to elevate its digital intelligence service platform, optimizing industry connectivity and exploring new business opportunities. Financially, the company reported growth in revenue and profit in the first half of 2025 compared to the previous year, supported by steady demand in its ICT product distribution and service offerings. Changhong Jiahua Holdings also focuses on digital transformation solutions encompassing computing centers, cloud services, cybersecurity, and digital marketing to provide high-quality digital products, customized application solutions, and differentiated technical services aimed at increasing business value. The company maintains strong commercial relationships with major technology and digital product suppliers, notably under a master supply agreement with Sichuan Changhong Electric Group, reinforcing its position as a principal distributor in the ICT sector. Its recent corporate activities reflect a strategic emphasis on innovation, market expansion, and restructuring to sustain long-term growth in the competitive technology distribution and service industry.