1. Hong Kong Stocks

  2. •

    Retail trade

  3. •

    Specialty stores
Asia Commercial Holdings Limited

Asia Commercial Holdings Limited

HHKEX:104
0.22
HKD
0.00
(0.00%)
164.37MMarket Cap
Asia Commercial Holdings Limited
HKEX:104
(Hong Kong Exchange)

Recent

price

0.22

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
HKD
6.76
2.09
2.18
1.42
0.98
1.07
1.09
1.27
1.2
1.07
1.56
1.05
0.95
0.94
0.95
0.9
- -
Revenue per Share
0.64
-0.12
-0.42
-0.22
-0.04
-0.05
0.04
0.08
0.09
-0.2
0.08
0.11
0.06
0.04
0.03
0.05
- -
Basic EPS, GAAP
-0.14
-0.64
-0.19
0.02
0.03
0.01
-0.02
0.21
0.05
0.06
0.18
0.22
0.11
0.09
0.14
0.11
- -
Free Cash Flow per Basic Share
0.1
0.01
- -
- -
- -
- -
- -
- -
0.05
0.03
- -
0.05
0.05
0.05
0.03
0.03
- -
Dividend per Share
3.45
3.15
0.79
0.58
0.52
0.52
0.55
0.64
0.7
0.46
0.55
0.63
0.62
0.59
0.59
0.64
0.64
Book Value per Share
3.45
3.15
0.79
0.58
0.52
0.52
0.53
0.62
0.68
0.46
0.55
0.63
0.62
0.59
0.59
0.64
0.64
Tangible Book Value per Share
153
497
503
683
731
783
783
783
781
747
747
747
747
747
747
747
747
Basic Weighted Avg Shares
1,035
1,036
1,099
967
719
834
850
991
935
800
1,165
785
711
705
709
670
- -
Sales/Revenue/Turnover
9.83
-3.9
-14.31
-14.99
-6.44
-5.08
-1.47
2.23
7.13
-1.21
6.82
12.66
17.48
14.63
14.78
14.06
- -
Operating Margin (%)
14
16
32
28
10
7
6
4
4
79
37
31
29
30
26
20
- -
Depreciation Expense
97
-61
-209
-153
-31
-36
31
63
70
-146
59
84
44
26
24
39
- -
Net Income, GAAP
14.43
- -
- -
- -
- -
- -
- -
- -
19.32
- -
39.04
34.82
49.94
59.75
59.63
48.35
- -
Effective Tax Rate (%)
9.41
-5.86
-19
-15.85
-4.31
-4.28
3.66
6.35
7.54
-18.27
5.03
10.68
6.14
3.71
3.45
5.89
- -
Profit Margin (%)
458
315
293
173
158
117
118
162
97
-22
20
61
63
73
105
141
141
Working Capital
50
30
- -
- -
- -
- -
- -
- -
- -
96
28
57
35
26
14
2
2
LT Debt
560
548
547
406
411
406
430
503
523
341
409
468
461
445
442
476
476
Total Equity
19.6
- -
- -
- -
- -
- -
6.16
- -
8.33
- -
7.56
9.71
7.8
5.78
6.32
7.86
- -
Return on Invested Capital (%)
19.76
- -
- -
- -
- -
- -
6.75
- -
12.27
- -
9.97
12.64
6.78
4.54
4.48
7.02
- -
Return on Capital (%)
20.21
-11.06
-38.8
-32.82
-7.66
-8.73
7.44
13.5
13.74
-33.74
15.47
19.01
9.4
5.79
5.52
8.6
- -
Return on Common Equity (%)

Capital Structure

HKD

•

in mil. unless spec.
Mar'25
Sep'26
Mar'26
ST Debt
152
101
120
LT Borrowings
- -
- -
- -
LT Finance Leases
14
6
2
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
747
747
747
Market Capitalization
172
172
164

Working Capital

HKD

•

in mil. unless spec.
Mar'25
Sep'26
Mar'26
Total Current Assets
345
293
345
Cash, Cash Equivalents & STI
179
140
183
Accounts Receivable, Net
65
48
67
Inventories
101
105
95
Total Current Liabilities
240
184
204
Payables & Accruals
- -
- -
- -
ST Debt
152
101
120
Deferred Revenue
- -
- -
- -

Growth Rates

HKD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
2.85%
3.31%
7.67%
Free Cash Flow
-169.33%
-3.06%
-22.37%
Net Income, GAAP
-51.05%
1.99%
61.28%
Sales/Revenue/Turnover
-0.39%
-9.57%
-5.61%
Total Cash Common Dividend
- -
- -
-23.08%

Semi-annual Revenue

HKD

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
705
2025
- -
- -
709
2026
- -
- -
670

Semi-annual Earnings Per Share

HKD

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
0.04
2025
- -
- -
0.03
2026
- -
- -
0.05

Semi-annual Dividends Per Share

HKD

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
0.05
2025
- -
- -
0.03
2026
- -
- -
0.03
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Business
Asia Commercial Holdings Limited Asia Commercial Holdings Limited (0104.HK) is a Bermuda-incorporated investment holding company principally engaged in the high-end retailing, trading, distribution, and sale of luxury watches; it operates through two primary segments, Sale of Watches and Properties Leasing, offering assembly and marketing of gold and jewellery watches, property holding, development, investment, leasing activities, and brand development services. The Sale of Watches segment focuses on retailing and distributing international luxury watch brands through luxury stores and flagship outlets, while the Properties Leasing segment manages investment properties for rental income; core offerings target affluent consumers with premium timepieces and related jewellery products. Founded in 1989 and headquartered at The Hopewell Centre in Wan Chai, Hong Kong, the company conducts geographic operations across Hong Kong, the People's Republic of China, the United Kingdom, and Switzerland, employing approximately 114 staff and serving major markets in Greater China with subsidiaries including Time City (Hong Kong) Limited, Juvenia (Hong Kong) Company Limited, Accord Watch & Jewellery (International) Limited, and Asia Commercial Property Holdings Limited. In recent developments, the company reported earnings results for the half-year ended September 30, 2025, reflecting ongoing operational stability amid stable watch sales revenue around HKD 699 million for fiscal 2025 and properties leasing income of HKD 9.23 million; it maintains a low debt profile with very low capital expenditures and strong interest coverage, supporting its focus on luxury retail amid a cautious market environment as of late 2025.