Man Shun Group (Holdings) Ltd.

Man Shun Group (Holdings) Ltd.

HHKEX:1746
0.50
HKD
-0.01
(-2.94%)
285.00MMarket Cap
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
0.13
0.11
0.13
0.19
0.11
0.13
0.12
0.13
0.15
0.13
0.1
- -
Basic EPS, GAAP
0.02
0.02
0.02
0.01
- -
-0.01
- -
- -
- -
-0.01
- -
- -
Free Cash Flow per Basic Share
0.03
0.03
-0.03
0.02
-0.01
- -
-0.01
-0.02
0.02
- -
0.02
- -
Dividend per Share
0.01
0.01
- -
- -
- -
- -
- -
- -
- -
0.02
- -
- -
Book Value per Share
0.03
0.02
0.05
0.16
0.16
0.15
0.15
0.15
0.15
0.12
0.12
0.12
Tangible Book Value per Share
0.03
0.02
0.05
0.16
0.16
0.15
0.15
0.15
0.15
0.12
0.12
0.12
Basic Weighted Avg Shares
1,000
1,000
1,000
868
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
Sales/Revenue/Turnover
128
110
126
164
114
128
122
125
153
131
98
- -
Operating Margin (%)
18.67
18.4
22.43
9.99
0.05
-8.91
-3.22
-2.27
-5.87
-11.25
-6.85
- -
Depreciation Expense
1
1
1
1
1
2
2
2
2
2
2
- -
Net Income, GAAP
21
18
23
13
1
-8
-2
- -
1
-7
-3
- -
Effective Tax Rate (%)
16.75
16.81
18.55
31.26
56.41
- -
- -
5.56
3.27
- -
- -
- -
Profit Margin (%)
16.18
16.03
18.6
7.69
0.88
-6.63
-1.83
0.19
0.44
-5.23
-2.57
- -
Working Capital
32
22
47
160
160
151
149
149
150
119
117
117
LT Debt
1
1
- -
- -
1
1
1
- -
- -
- -
- -
- -
Total Equity
33
25
48
161
162
153
151
151
152
121
118
118
Return on Invested Capital (%)
- -
34.96
38.55
9.45
0.02
- -
- -
-1.76
-5.68
- -
- -
- -
Return on Capital (%)
- -
43.32
42.81
10.91
0.63
- -
- -
0.19
0.49
- -
- -
- -
Return on Common Equity (%)
- -
61.61
64.16
12.05
0.63
-5.38
-1.46
0.16
0.45
-5.03
-2.1
- -

Capital Structure

HKD

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
ST Debt
1
1
1
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,000
1,000
1,000
Market Capitalization
202
345
285

Working Capital

HKD

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
Total Current Assets
135
131
138
Cash, Cash Equivalents & STI
65
80
85
Accounts Receivable, Net
49
37
38
Inventories
1
1
2
Total Current Liabilities
15
13
21
Payables & Accruals
- -
- -
- -
ST Debt
1
1
1
Deferred Revenue
- -
- -
- -

Growth Rates

HKD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
27.57%
-4.65%
-2.08%
Free Cash Flow
-580.72%
-1,039.79%
-5,347.15%
Net Income, GAAP
-223.21%
-234.21%
-63.37%
Sales/Revenue/Turnover
-0.77%
-3.87%
-25.63%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

HKD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
153
2024
- -
- -
131
2025
- -
- -
98

Semi-annual Earnings Per Share

HKD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
- -
2024
- -
- -
-0.01
2025
- -
- -
- -

Semi-annual Dividends Per Share

HKD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
- -
2024
- -
- -
0.02
2025
- -
- -
- -

Company Description

CEO
Yuen Chau Cheung
Full Time Employees
59
Sector
Industrial services
Industry
Engineering & construction
Address
Cheung Fung Industrial Building Hong Kong Hong Kong
IPO Date
Jul 11, 2018
Business
Man Shun Group (Holdings) Limited, an investment holding company incorporated in the Cayman Islands in 2018 and listed on the Hong Kong Stock Exchange, provides heat, ventilation, and air-conditioning (HVAC) electrical and mechanical (E&M) engineering services principally in Hong Kong, where it operates as a first-tier or second-tier subcontractor for new residential property development projects; its core offerings encompass installation services only and installation services bundled with HVAC systems procurement, including ancillary items such as pipes and fittings, supplemented by repair and other services income as well as sale of materials. Headquartered at Room 1908, 19th Floor, Cheung Fung Industrial Building, Nos. 23-39 Pak Tin Par Street, Tsuen Wan, New Territories, Hong Kong, the group traces its business history to 1996 through subsidiaries including Man Tung Air-conditioning Works Limited, Man Tung Air-conditioning E&M Limited, and Shun Tung Engineering Company Limited, and maintains registrations as a Registered Electrical Contractor under the Electrical and Mechanical Services Department, a minor works contractor of Types A, D, and E (Classes II and III) under the Building Authority, and a registered subcontractor under the Construction Industry Council's scheme. A subsidiary of Prime Pinnacle Limited, it serves the Hong Kong construction sector exclusively amid a challenging environment marked by property sector slumps and project delays. For the six months ended June 30, 2025, revenue declined 36.6% year-over-year to HK$44.0 million, primarily from installation services with HVAC procurement at HK$33.3 million and installation-only at HK$10.7 million, yielding a gross profit margin improvement to 21.3% from 9.1%, though the group posted a net loss of HK$1.4 million due to reduced project volumes and elevated administrative costs including legal fees; it secured three new contracts totaling HK$103 million during the period, added right-of-use assets of HK$0.7 million for office premises and equipment, and reported no significant capital commitments, acquisitions, partnerships, funding rounds, or reorganizations, with operations financed internally from cash reserves of HK$79.5 million and a low gearing ratio of 0.7%.