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1939.HK — HKEX Online Services

1939.Hk

HK$0,58
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Mcap
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P/E
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EV / Rev
—
Div yield
—
Op margin
-29,6 %
ROE
-8,8 %
Net margin
-31,4 %
Debt / equity
0,20
Beta
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52w range
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Volume
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Day range
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Prev close
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Open
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Next earnings
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Ex-dividend
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TR 1Y
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About

The company operates in the online services sector, providing digital platforms and services to consumers, primarily generating revenue through subscription models and advertising.

Business. The company operates in the online services sector, providing digital platforms and services to consumers, primarily generating revenue through subscription models and advertising.

Classification92 %
SectorTechnology
Business sectorSoftware & IT Services
IndustryOnline Services
Generated · model-assisted
Sell-side consensus
—consensus pending
— buy— hold— sell
Avg 12m price target—
Upcoming events
— missing data
See all catalysts →

At a glance

Score→
33
composite score
Valuation
—
valuation pending
Analysts
—
not yet wired
Ownership
—
not yet wired
Profitability→
-8,8 %
return on equity
Quality→
55
quality score (0-100)

News & coverage

0
  • No recent newsroom coverage mentioning 1939.

    • Sector rotation

    Sector1D1Mvs mkt
    Materials+2,1 %+0,7 %+2,5 %
    Energy+1,1 %+5,5 %+1,5 %
    Health Care+0,6 %−0,4 %+1,0 %
    Consumer Discretionary+0,4 %+5,7 %+0,8 %
    Information Technology · THIS SECTOR−0,3 %+4,8 %+0,1 %
    Financials−0,5 %−3,5 %−0,1 %
    Real Estate−0,7 %+10,8 %−0,3 %
    Consumer Staples−0,8 %+4,5 %−0,4 %
    Utilities−1,5 %−21,2 %−1,1 %
    Industrials−1,7 %−2,4 %−1,3 %
    Communication Services———

    Developing storylines

    No tracked sagas currently linked to 1939.HK. Browse all sagas →

    Analysis

    AI analysis
    Generated · analysis pipeline · tier hybrid · as of 2026-06-25 ↑ At a glance

    Opportunity

    — missing data

    Upcoming catalysts

    Scheduled public events. Informational only — not investment advice.

    • Macro
    • Rate decisionSveriges Riksbank rate decision (press conf.)2026-06-25 · SE
    • Rate decisionReserve Bank of Australia rate decision (press conf.)2026-07-08 · AU
    • Rate decisionBank of Canada rate decision (press conf.)2026-07-15 · CA
    • Rate decisionEuropean Central Bank rate decision (press conf.)2026-07-16 · EU
    • Rate decisionBank of Japan rate decision (press conf.)2026-07-16 · JP
    • Rate decisionFederal Reserve rate decision (press conf.)2026-07-29 · US
    • Macro & political
    • ElectionSE Swedish Election2026-09-14 · SE
    • ElectionUS U.S. Midterms2026-11-03 · US
    • ElectionFR French Legislative2027-06-01 · FR

    Pre-earnings brief

    — missing data

    Signals & dispatch

    peak dispatch · —

    Composite-score breakdown

    Composite score33 / 100
    Composite score 0-100 · Data quality 0,55
    Data quality0,55 / 1.00

    Synthesis

    Business

    The company operates in the online services sector, providing digital platforms and services to consumers, primarily generating revenue through subscription models and advertising.

    Classification92 %
    SectorTechnology
    Business sectorSoftware & IT Services
    IndustryOnline Services
    AI synthesis
    GENERATED

    The company's capital structure is characterized by a relatively low debt-to-equity ratio of 0.2, indicating a conservative approach to leverage. With cash and equivalents amounting to 76.46 million HKD, the company maintains a strong liquidity position, as reflected in a current ratio of 2.69. However, the negative free cash flow of -12.69 million HKD suggests that the company is currently investing more in operations than it is generating in cash.

    Profitability metrics reveal a challenging financial position. The company reported a net loss of 19.46 million HKD and an operating loss of 18.35 million HKD. Return on equity (ROE) is negative at -8.79%, and return on assets (ROA) is also negative at -4.93%. These figures indicate that the company is not generating returns that meet the cost of capital, which is a concern for investors.

    The company's revenue is concentrated in a single business segment, with no disclosed geographic diversification. This lack of diversification increases the risk associated with the company's revenue streams. The absence of segment or geographic breakdown in the financial data limits the ability to assess the company's exposure to different markets and customer bases.

    Looking ahead, the company's growth trajectory is uncertain. The current fiscal year is expected to show a decline in revenue, with no clear indication of improvement in the next fiscal year. The negative operating and net income suggest that the company may need to implement cost-cutting measures or find new revenue streams to achieve profitability.

    Risk factors include the company's negative net income and operating income, which could lead to increased financial pressure. The risk assessment indicates low liquidity and dilution risk, but the negative free cash flow and operating cash flow suggest that the company may need to seek additional financing in the near term. There are no immediate filing-based liquidity or dilution flags, but the company's financial performance remains a concern.

    Recent events, as disclosed in filings and transcripts, do not indicate any significant changes in the company's strategic direction or financial status. The company continues to operate in a competitive online services market, where maintaining user engagement and monetization are critical challenges.

    Key takeaways
    • The company has a conservative capital structure with a low debt-to-equity ratio of 0.2.
    • The company is currently unprofitable, with a net loss of 19.46 million HKD and an operating loss of 18.35 million HKD.
    • The company's revenue is concentrated in a single business segment, increasing its exposure to market risks.
    • The company's growth trajectory is uncertain, with no clear indication of improvement in the next fiscal year.
    • The company has low liquidity and dilution risk, but its negative free cash flow and operating cash flow suggest the need for additional financing.

    Bull / Bear case

    analysis pipeline
    — missing data

    In focus — financials by report

    Valuation

    Market price
    HK$0,58
    Market cap
    —
    Enterprise valueⓘ
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    P/Eⓘ
    —
    Non-GAAP P/Eⓘ
    —
    EV / Revenueⓘ
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    EV / Op incomeⓘ
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    EV / OCFⓘ
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    P / Bⓘ
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    P / Tangible bookⓘ
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    Tangible book
    HK$221.3M
    Net cashⓘ
    HK$32.7M
    Current ratioⓘ
    2.7
    Debt / equityⓘ
    0.2
    ROAⓘ
    -4.9%
    ROEⓘ
    -8.8%
    Cash conversionⓘ
    -191.0%
    CapEx / revenueⓘ
    -0.2%
    SBC / revenueⓘ
    —
    Dilution ratioⓘ
    0.0%

    Revenue by segment

    Market share

    — missing data

    Business relationships

    — missing data

    Supply chain

    — missing data

    Peer comparison

    — missing data

    Market position

    Stress test

    — missing data

    Forward curve

    — missing data

    Options

    — missing data

    Short squeeze

    — missing data

    Earnings-call key lines

    — missing data

    Estimate revisions

    consensus EPS · 26-week trend
    — missing data

    Sell-side observations

    — missing data

    Themes

    — missing data

    ESG

    — missing data

    Risk factors

    — missing data

    Benchmarks vs cohort

    Op Margin-29,6 %Bottom quartile
    Net Margin-31,4 %Bottom quartile
    ROE-8,8 %Bottom quartile
    Capex / Rev-0,2 %Above P75
    D/E0,20Below median
    Cash Conv-1,91Bottom quartile

    Corporate actions / M&A

    — missing data

    FX exposure

    — missing data

    Comparable transactions

    — missing data

    Derivatives & instruments

    — missing data

    Actions

    Ask Handelsavisen

    — missing data
    Data sources
    • Market data
    • Market data cache
    • Issuer disclosures
    • Public news
    • Earnings transcripts
    • Consensus estimates
    • ESG data
    How metrics are computed
    • Dilution Ratio
      (shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
    • Net Cash
      cash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
    • Capex To Revenue
      capital_expenditure / revenue
    • Return On Equity
      net_income / total_equity
    • Debt To Equity
      (short_term_debt + long_term_debt) / total_equity
    • Cash Conversion Ratio
      operating_cash_flow / net_income
    Source documents
    • 1939.HK Market data — financials · 2026-05-26

    Ownership & reference

    Leadership

    • Jun TongExecutive Chairman of the Board
    • Shokei AndoExecutive Chairman of the Board

    Insider activity

    — missing data

    Geographic breakdown

    — missing data
    Listings · one canonical issuer all listings resolve to the canonical
    1939.HKCanonical
    HKEX · HKD

    Intel & risk

    peak dispatch · —
    OSINT findings
    Dilution riskLow
    Liquidity riskLow
    No immediate filing-based liquidity or dilution flags were detected.

    The Thread

    Everything we know, in order
    — missing data
    Sources filings · IR · transcripts · market data · tier hybrid · as of 2026-06-25 Market data · Issuer disclosures · Public news · Earnings transcripts · Consensus estimates · ESG data Premium coverage