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Shangshan Gold International Holdings Limited logo

Shangshan Gold International Holdings Limited

1939.HK

HKSEConsumer CyclicalSpecialty Retail

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Latest quote

HK$0.40

+HK$0.005 · +1.27%

Aug 24, 3:58 PM HKT

1939.HK company overview

Regular session · HKT · Market data may be delayed.

Company profile

Company website

Shangshan Gold International Holdings Limited, an investment holding company, provides auction, artwork sales, and related services in Hong Kong and Japan. It offers auctions for Chinese and Japanese artworks, such as paintings and calligraphies, antiques, and teawares under the Tokyo Chuo Auction brand name; and exhibition services. The company is also involved in the money lending services, as well as operates an online trading and information platform. Its customers primarily include sellers who consign artworks for art auction and related business; and buyers who purchase artworks in the art auctions, including artworks artists, masters, experts, merchants, collectors, art galleries, and private museums. The company was formerly known as Tokyo Chuo Auction Holdings Limited and changed its name to Shangshan Gold International Holdings Limited in August 2025. Shangshan Gold International Holdings Limited was founded in 2010 and is headquartered in Tokyo, Japan.

Industry
Specialty Retail
Sector
Consumer Cyclical
Headquarters
HK
CEO
Zhang Jinliang
Listed since
Oct 11, 2018
Employees
33

Market position

Day range

Current HK$0.40

52-week range

Current HK$0.40

Open
HK$0.40
Previous close
HK$0.395
Volume
132K
0.06× average
Average volume
2.19M
Average daily volume
Market cap
204.75M HKD
Beta
1.1
Market reference 1
50-day average
HK$0.4471
-10.53% below average
200-day average
HK$1.2268
-67.39% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

P/E (TTM)
-9.28×
P/B (TTM)
0.7×
P/S (TTM)
1.91×
Dividend yield
0.00%

Profitability & efficiency

Gross margin
36.49%
Operating margin
-16.51%
Net margin
-20.26%

Financial health

Debt / equity
0.12×
Altman Z-score
1.86
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 trends100%47%-7%-60%Gross margin, FY2021: 86.65%Gross margin, FY2022: 73.28%Gross margin, FY2023: 80.86%Gross margin, FY2024: 78.14%Gross margin, FY2025: 34.23%Operating margin, FY2021: 11.18%Operating margin, FY2022: -11.67%Operating margin, FY2023: -44.79%Operating margin, FY2024: -24.54%Operating margin, FY2025: -16.85%Net margin, FY2021: 10.60%Net margin, FY2022: -11.39%Net margin, FY2023: -46.48%Net margin, FY2024: -31.36%Net margin, FY2025: -20.26%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 86.65%. Gross margin FY2022 73.28%. Gross margin FY2023 80.86%. Gross margin FY2024 78.14%. Gross margin FY2025 34.23%. Operating margin FY2021 11.18%. Operating margin FY2022 -11.67%. Operating margin FY2023 -44.79%. Operating margin FY2024 -24.54%. Operating margin FY2025 -16.85%. Net margin FY2021 10.60%. Net margin FY2022 -11.39%. Net margin FY2023 -46.48%. Net margin FY2024 -31.36%. Net margin FY2025 -20.26%.

Income trends

Revenue

107.45M HKD+73.16%

Operating income

−18.1M HKD-18.90%

Net income

−21.77M HKD-11.84%
Income trends across reported periods120.88M HKD67.14M HKD13.41M HKD−40.32M HKDRevenue, FY2021: 79.6M HKDRevenue, FY2022: 72.76M HKDRevenue, FY2023: 57.85M HKDRevenue, FY2024: 62.05M HKDRevenue, FY2025: 107.45M HKDOperating income, FY2021: 8.9M HKDOperating income, FY2022: −8.49M HKDOperating income, FY2023: −25.91M HKDOperating income, FY2024: −15.23M HKDOperating income, FY2025: −18.1M HKDNet income, FY2021: 8.43M HKDNet income, FY2022: −8.29M HKDNet income, FY2023: −26.89M HKDNet income, FY2024: −19.46M HKDNet income, FY2025: −21.77M HKDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 79.6M HKD. Revenue FY2022 72.76M HKD. Revenue FY2023 57.85M HKD. Revenue FY2024 62.05M HKD. Revenue FY2025 107.45M HKD. Operating income FY2021 8.9M HKD. Operating income FY2022 −8.49M HKD. Operating income FY2023 −25.91M HKD. Operating income FY2024 −15.23M HKD. Operating income FY2025 −18.1M HKD. Net income FY2021 8.43M HKD. Net income FY2022 −8.29M HKD. Net income FY2023 −26.89M HKD. Net income FY2024 −19.46M HKD. Net income FY2025 −21.77M HKD.
Metric (HKD)FY2025FY2024FY2023FY2022FY2021
Revenue107.45M HKD62.05M HKD57.85M HKD72.76M HKD79.6M HKD
Cost of goods sold70.67M HKD13.57M HKD11.07M HKD19.44M HKD10.63M HKD
Gross profit36.78M HKD48.48M HKD46.78M HKD53.32M HKD68.97M HKD
Selling, general, and administrative54.88M HKD63.48M HKD67.3M HKD59.19M HKD56.97M HKD
Operating expenses54.88M HKD63.71M HKD72.69M HKD60.1M HKD57.56M HKD
Interest income157K HKD700K HKD226K HKD176K HKD1.2M HKD
Interest expense630K HKD1.76M HKD1.05M HKD1.04M HKD1.62M HKD
Depreciation and amortization6.24M HKD6.92M HKD6.75M HKD7.92M HKD9.45M HKD
Operating income−18.1M HKD−15.23M HKD−25.91M HKD−8.49M HKD8.9M HKD
Net income−21.77M HKD−19.46M HKD−26.89M HKD−8.29M HKD8.43M HKD

Company facts updated Aug 24, 2026.

Corporate actions

Annual dividends per share

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

HK$0.01

2022 complete year-50.0% since 2019

Corporate action history

Dividend

Ex-dividend Sep 5, 2022

HK$0.01

Annual

Record Sep 6, 2022 · Payment Sep 30, 2022

Dividend

Ex-dividend Sep 6, 2021

HK$0.01

Annual

Record Sep 7, 2021 · Payment Sep 30, 2021

Dividend

Ex-dividend Sep 23, 2020

HK$0.01

Annual

Record Sep 24, 2020 · Payment Oct 16, 2020

Dividend

Ex-dividend Sep 4, 2019

HK$0.02

Annual

Record Sep 5, 2019 · Payment Sep 27, 2019

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