Changhong Jiahua Holdings Ltd.

Changhong Jiahua Holdings Ltd.

HHKEX:3991
0.60
HKD
-0.01
(-1.65%)
1.24BMarket Cap
2013 Y
2014 Y
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
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
- -
Basic EPS, GAAP
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
- -
Free Cash Flow per Basic Share
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
- -
Dividend per Share
- -
- -
0.04
0.04
0.05
0.05
0.05
0.07
0.09
0.09
0.09
0.09
0.09
- -
Book Value per Share
2
0.85
0.86
0.91
1.11
1.19
1.31
1.59
1.84
1.81
1.93
2.05
2.31
1.31
Tangible Book Value per Share
2
0.85
0.86
0.91
1.08
1.17
1.29
1.57
1.83
1.8
1.92
2.03
2.29
1.29
Basic Weighted Avg Shares
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
Sales/Revenue/Turnover
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
- -
Operating Margin (%)
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
- -
Depreciation Expense
9
9
9
7
6
6
15
16
17
18
19
19
20
- -
Net Income, GAAP
178
185
132
233
245
270
289
345
413
366
361
379
401
- -
Effective Tax Rate (%)
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
- -
Profit Margin (%)
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
- -
Working Capital
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
1,825
LT Debt
504
- -
- -
- -
- -
- -
- -
5
5
5
8
13
6
8
Total Equity
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
1,902
Return on Invested Capital (%)
14.13
11.43
13.69
15.92
15.28
12.89
12.09
9.13
9.65
11.18
10.33
11.2
8.88
- -
Return on Capital (%)
10.65
10.4
7.79
15.12
14.57
13.2
12.7
12.53
13.26
11.93
11.62
11.96
9.57
- -
Return on Common Equity (%)
20.66
17.01
6
10.23
9.42
9.15
9.01
9.29
9.38
7.8
7.5
7.41
7.16
- -

Capital Structure

HKD

•

in mil. unless spec.
Sep'19
Dec'19
Jun'20
ST Debt
- -
1,008
1,250
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
8
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
2,571
1,455
1,455
Market Capitalization
- -
- -
1,236

Working Capital

HKD

•

in mil. unless spec.
Sep'19
Dec'19
Jun'20
Total Current Assets
- -
7,202
6,693
Cash, Cash Equivalents & STI
- -
712
718
Accounts Receivable, Net
- -
2,087
2,287
Inventories
- -
2,115
1,984
Total Current Liabilities
- -
5,382
4,867
Payables & Accruals
- -
- -
- -
ST Debt
- -
1,008
1,250
Deferred Revenue
- -
- -
- -

Growth Rates

HKD

•

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%

Semi-annual Revenue

HKD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
37,171
2024
- -
- -
39,986
2025
- -
- -
43,826

Semi-annual Earnings Per Share

HKD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
0.14
2024
- -
- -
0.15
2025
- -
- -
0.16

Semi-annual Dividends Per Share

HKD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
0.09
2024
- -
- -
0.09
2025
- -
- -
0.09

Company Description

CEO
Jianqiu Zhu
Full Time Employees
1,340
Sector
Electronic technology
Industry
Computer peripherals
Address
West Tower Hong Kong Hong Kong 168-200
IPO Date
Jan 24, 2000
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.