APAC Resources Limited logo

APAC Resources Limited

1104.HK

HKSEFinancial ServicesFinancial - Capital Markets

Latest quote

HK$1.87

−HK$0.01 · -0.53%

Aug 24, 4:08 PM HKT

1104.HK company overview

Regular session · HKT · Market data may be delayed.

Company profile

Company website

Operating as an investment holding company, APAC Resources Limited focuses its activities on commodity trading and making strategic investments in natural resources. Its business footprint spans Hong Kong, the People's Republic of China, Australia, and the broader Southeast Asian region. The organization structures its diverse operations into three core segments: Commodity Business, Resource Investment, and Principal Investment and Financial Services. Through these divisions, APAC Resources engages in the buying and selling of both publicly traded and private securities. It also extends loan financing, commits capital to instruments like loan notes, convertible notes, and other financial assets, and actively participates in the investment and development of mineral resources. Complementing these activities, the company offers a range of services, including general management, corporate management consulting, and specialized metallurgy technology. The corporate headquarters for APAC Resources are based in Wan Chai, Hong Kong.

Industry
Financial - Capital Markets
Sector
Financial Services
Headquarters
HK
CEO
Andrew Charles Ferguson
Listed since
Dec 29, 1998
Employees
18

Market position

Day range

Current HK$1.87

52-week range

Current HK$1.87

Open
HK$1.90
Previous close
HK$1.88
Volume
5.44M
1.01× average
Average volume
5.41M
Average daily volume
Market cap
2.79B HKD
Beta
0.51
Market reference 1
50-day average
HK$1.5559
+20.19% above average
200-day average
HK$2.2186
-15.71% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
-442.56M HKD
P/E (TTM)
1.1×
P/B (TTM)
0.46×
P/S (TTM)
1.29×
EV / EBITDA
5.24×
Earnings yield
14.34%
Free cash flow yield
-12.43%
Dividend yield
5.88%

Profitability & efficiency

Gross margin
71.25%
Operating margin
58.86%
Net margin
111.41%
Return on equity
6.06%
Return on assets
5.34%
Return on invested capital
-1.87%

Financial health

Debt / equity
0.1×
Current ratio
5.6×
Altman Z-score
3.94
Piotroski F-score
4 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends143%61%-22%-105%Gross margin, FY2021: 57.85%Gross margin, FY2022: 51.19%Gross margin, FY2023: 20.77%Gross margin, FY2024: 7.86%Gross margin, FY2025: 3.92%Operating margin, FY2021: 59.47%Operating margin, FY2022: 56.49%Operating margin, FY2023: -9.97%Operating margin, FY2024: -0.63%Operating margin, FY2025: -24.23%Net margin, FY2021: 122.66%Net margin, FY2022: -83.92%Net margin, FY2023: -58.99%Net margin, FY2024: 32.82%Net margin, FY2025: 69.06%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 57.85%. Gross margin FY2022 51.19%. Gross margin FY2023 20.77%. Gross margin FY2024 7.86%. Gross margin FY2025 3.92%. Operating margin FY2021 59.47%. Operating margin FY2022 56.49%. Operating margin FY2023 -9.97%. Operating margin FY2024 -0.63%. Operating margin FY2025 -24.23%. Net margin FY2021 122.66%. Net margin FY2022 -83.92%. Net margin FY2023 -58.99%. Net margin FY2024 32.82%. Net margin FY2025 69.06%.

Income trends

Revenue

353.13M HKD-70.29%

Operating income

−85.55M HKD-1036.55%

Net income

243.86M HKD-37.48%
Income trends across reported periods1.54B HKD810.3M HKD80.99M HKD−648.32M HKDRevenue, FY2021: 1.11B HKDRevenue, FY2022: 555.3M HKDRevenue, FY2023: 540.04M HKDRevenue, FY2024: 1.19B HKDRevenue, FY2025: 353.13M HKDOperating income, FY2021: 658.06M HKDOperating income, FY2022: 313.67M HKDOperating income, FY2023: −53.83M HKDOperating income, FY2024: −7.53M HKDOperating income, FY2025: −85.55M HKDNet income, FY2021: 1.36B HKDNet income, FY2022: −465.99M HKDNet income, FY2023: −318.55M HKDNet income, FY2024: 390.03M HKDNet income, FY2025: 243.86M HKDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 1.11B HKD. Revenue FY2022 555.3M HKD. Revenue FY2023 540.04M HKD. Revenue FY2024 1.19B HKD. Revenue FY2025 353.13M HKD. Operating income FY2021 658.06M HKD. Operating income FY2022 313.67M HKD. Operating income FY2023 −53.83M HKD. Operating income FY2024 −7.53M HKD. Operating income FY2025 −85.55M HKD. Net income FY2021 1.36B HKD. Net income FY2022 −465.99M HKD. Net income FY2023 −318.55M HKD. Net income FY2024 390.03M HKD. Net income FY2025 243.86M HKD.
Metric (HKD)FY2025FY2024FY2023FY2022FY2021
Revenue353.13M HKD1.19B HKD540.04M HKD555.3M HKD1.11B HKD
Cost of goods sold339.3M HKD1.1B HKD427.88M HKD271.06M HKD466.39M HKD
Gross profit13.83M HKD93.38M HKD112.16M HKD284.24M HKD640.14M HKD
Selling, general, and administrative99.38M HKD78.39M HKD81.29M HKD58.47M HKD106.84M HKD
Operating expenses99.38M HKD100.91M HKD165.99M HKD−29.43M HKD−17.92M HKD
Interest income58.28M HKD12.11M HKD123.47M HKD52.1M HKD16.09M HKD
Interest expense25.23M HKD9.09M HKD10.66M HKD4.24M HKD162K HKD
Depreciation and amortization1.03M HKD3.56M HKD3.13M HKD3.48M HKD4.42M HKD
Operating income−85.55M HKD−7.53M HKD−53.83M HKD313.67M HKD658.06M HKD
Net income243.86M HKD390.03M HKD−318.55M HKD−465.99M HKD1.36B HKD

Company facts updated Aug 24, 2026.

Earnings

Latest EPS result
-0.23

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly EPS actual values compared with estimates0.520.25-0.02-0.29Q1 '23Q1 '24Q3 '24Q1 '25
Q1 2023, reported Feb 27, 2023: actual -0.033, estimate —, surprise —, Comparison unavailable. Q1 2024, reported Feb 23, 2024: actual 0.46, estimate —, surprise —, Comparison unavailable. Q3 2024, reported Sep 25, 2024: actual -0.15, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Feb 21, 2025: actual -0.23, estimate —, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly Revenue actual values compared with estimates1B711.83M418.74M125.64MQ1 '23Q1 '24Q3 '24Q1 '25
Q1 2023, reported Feb 27, 2023: actual 215.46M HKD, estimate —, surprise —, Comparison unavailable. Q1 2024, reported Feb 23, 2024: actual 941.43M HKD, estimate —, surprise —, Comparison unavailable. Q3 2024, reported Sep 25, 2024: actual 421.01M HKD, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Feb 21, 2025: actual 147.81M HKD, estimate —, surprise —, Comparison unavailable.

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

HK$0.11

2025 complete year+10.0% since 2020

Corporate action history

Dividend

Ex-dividend Nov 25, 2025

HK$0.11

Annual

Record Nov 26, 2025 · Payment Dec 16, 2025

Dividend

Ex-dividend Nov 21, 2024

HK$0.10

Annual

Record Nov 22, 2024 · Payment Dec 16, 2024

Dividend

Ex-dividend Nov 16, 2023

HK$0.10

Annual

Record Nov 17, 2023 · Payment Jan 15, 2024

Dividend

Ex-dividend Jan 30, 2023

HK$0.10

Irregular

Record Jan 31, 2023 · Payment Feb 20, 2023

Dividend

Ex-dividend Dec 23, 2021

HK$0.20

Special

Record Dec 28, 2021 · Payment Jan 28, 2022

Dividend

Ex-dividend Nov 24, 2020

HK$0.10

Annual

Record Nov 25, 2020 · Payment Dec 10, 2020

1104.HK peers

ETFs holding 1104.HK

Funds reporting this stock among their holdings, ordered by reported position size.

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