Heng Hup Holdings Limited (1891.HK) Q2 2025 Earnings Report

Previous: Q1 2025

Heng Hup Holdings Limited

1891.HK

HKD0.142 2.90%

Exchange: HKSE | Sector: Industrials | Industry: Manufacturing Metal Fabrication

Q2 2025

Published: Jun 30, 2025

Earnings Highlights

Revenue of $362.48M up 72.3% year-over-year
EPS of $0.00 increased by 20% from previous year
Gross margin of 8.5%
Net income of 4.24M
"N/A" - N/A

1891.HK

Company 1891.HK

Period Q2 2025

Currency MYR

Report Type Quarterly Earnings

Generated Dec 8, 2025

Executive Summary

Heng Hup Holdings reported QQ2 2025 results with Revenue of MYR 362.48 million and Net Income of MYR 4.24 million, illustrating a modest uptick in profitability against a backdrop of stable top-line performance. We highlight a solid gross margin of 8.52% (gross profit MYR 30.87 million) and an operating margin of 2.01%, underpinned by disciplined cost management and a lean operating structure. EBITDA stood at MYR 9.32 million, and net income rose about 20.95% year over year, signaling improved operating efficiency even as the company continues to navigate macro volatility in the scrap metal market.

Key Performance Indicators

Revenue

Increasing

362.48M

QoQ: 100.00% | YoY: 72.31%

Gross Profit

Increasing

30.87M

8.52% margin

QoQ: 100.00% | YoY: 92.42%

Operating Income

Increasing

7.27M

QoQ: 100.00% | YoY: 53.11%

Net Income

Increasing

4.24M

QoQ: 100.00% | YoY: 20.95%

EPS

Increasing

0.00

QoQ: 100.00% | YoY: 20.00%

Revenue Trend

Margin Analysis

Financial Highlights

Performance highlights (MYR, unless noted):
- Revenue: 362,478,500; YoY: 72.31%; QoQ: 100.00% (per reported metrics)
- Gross Profit: 30,866,500; Gross Margin: 8.52%; YoY: 92.42%; QoQ: 100.00%
- EBITDA: 9,323,500; EBITDA Margin: 2.57%
- Operating Income: 7,268,000; Operating Margin: 2.01%; YoY: 53.11%
- Net Income: 4,235,500; Net Margin: 1.17%; YoY: 20.95%
- EPS: 0.0042; Diluted EPS: 0.0042; YoY: 20.00%
- Liquidity: Current Ratio 2.47; Quick Ratio 1.92; Cash Ratio 0.30
- Leverage: Debt Ratio 0.25; Debt/Equity 0.38; Total Debt to Capitalization 27.5%
- Cash Flow: Operating Cash Flow per Share (OCFPS) −0.00622; Free Cash Flow per Share (FCFPS) −0.00662; Cash per Share 0.0405
- Efficiency: Receivables Turnover 4.67x; Inventory Turnover 10.30x; DSO 19.27 days; DIO 8.74 days; DPO 3.30 days; CCC 24.70 days
- Valuation/Efficiency: Price-to-Book 0.25x; Price-to-Sales 0.0837x; EV/EBITDA 6.41x; Price/Earnings 1.79x; Net cash generation is limited given negative cash flow per share metrics.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	362.48M	72.31%	100.00%
Gross Profit	30.87M	92.42%	100.00%
Operating Income	7.27M	53.11%	100.00%
Net Income	4.24M	20.95%	100.00%
EPS	0.00	20.00%	100.00%

Key Financial Ratios

Gross Profit Margin

Weak

8.52%

Gross profit margin is below industry norms, profitability concerns

Operating Profit Margin

Weak

2.01%

Operating margin is below industry norms, profitability concerns

Net Profit Margin

Weak

1.17%

Net profit margin is below industry norms, profitability concerns

Return on Assets

Weak

2.23%

Return on assets suggests inefficient capital allocation

Return on Equity

Weak

3.43%

Return on equity suggests inefficient capital allocation

Current Ratio

Healthy

2.47

Current ratio shows adequate liquidity to meet short-term obligations

Debt to Equity

Moderate

0.38

Debt-to-equity indicates balanced capital structure with manageable debt

P/E Ratio

Value

1.79x

P/E ratio suggests potential undervaluation or stable earnings

Price to Book

Undervalued

0.25x

Trading below book value, potential value opportunity or distressed

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q2 2025	362.48	0.00	+72.3%	View
Q1 2025	362.48	0.00	-16.2%	View
Q4 2024	420.73	0.01	+9.0%	View
Q3 2024	420.73	0.01	+9.0%	View

Heng Hup Holdings Limited (1891.HK) Q2 2025 Earnings Report

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Financial Highlights

Income Statement

Key Financial Ratios

Management Insights Available for Members

Peer Comparison Available for Members

Investment Outlook & SWOT Available for Members

Historical Earnings Comparison

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