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Tian Chang Group Holdings Ltd. logo

Tian Chang Group Holdings Ltd.

2182.HK

HKSEIndustrialsConglomerates

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Latest quote

HK$0.35

−HK$0.01 · -2.78%

Aug 17, 3:05 PM HKT

2182.HK company overview

Regular session · HKT · Market data may be delayed.

Company profile

Company website

As an investment holding company, Tian Chang Group Holdings Ltd. supplies e-cigarette products and integrated plastic solutions across various international markets, including Hong Kong, mainland China, the United States, the United Kingdom, the Netherlands, Japan, India, and Germany. The company operates through three principal divisions: E-cigarette Products, Integrated Plastic Solutions, and Medical Consumable Products. The Integrated Plastic Solutions segment designs, manufactures, and fabricates plastic injection molds and diverse plastic components. This range includes parts for printers, copiers, and air conditioners, breathable office chair backs, automotive engine covers and dashboards, routers, housings for cameras and mobile power banks, and PET products. Its E-cigarette Products division is dedicated to the manufacturing and distribution of various vaping products like disposable and refillable e-cigarettes, battery rods, clearomisers, liquidpods, and heated tobacco devices, operating as an Original Equipment Manufacturer (OEM). The Medical Consumable Products segment produces and sells disposable face masks under the CAREWE brand, in addition to other personal protective equipment. Founded in 2000, the company's headquarters are located in Kwun Tong, Hong Kong.

Industry
Conglomerates
Sector
Industrials
Headquarters
HK
CEO
Tsan Lam Chan
Listed since
Mar 8, 2018
Employees
770

Market position

Volume
84K
2.15× average
Average volume
39.02K
Average daily volume
Market cap
217M HKD
Beta
0.08
Market reference 1

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
109.83M HKD
EV / EBITDA
3.11×
Earnings yield
-6.14%
Free cash flow yield
16.19%

Profitability & efficiency

Return on equity
-1.92%
Return on assets
-1.66%
Return on invested capital
-3.43%

Financial health

Current ratio
3.22×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends26%14%3%-9%Gross margin, FY2021: 22.71%Gross margin, FY2022: 22.73%Gross margin, FY2023: 19.49%Gross margin, FY2024: 20.41%Gross margin, FY2025: 20.82%Operating margin, FY2021: 10.72%Operating margin, FY2022: 10.82%Operating margin, FY2023: -1.78%Operating margin, FY2024: -5.90%Operating margin, FY2025: -5.14%Net margin, FY2021: 8.61%Net margin, FY2022: 9.26%Net margin, FY2023: 3.36%Net margin, FY2024: -2.53%Net margin, FY2025: -2.79%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 22.71%. Gross margin FY2022 22.73%. Gross margin FY2023 19.49%. Gross margin FY2024 20.41%. Gross margin FY2025 20.82%. Operating margin FY2021 10.72%. Operating margin FY2022 10.82%. Operating margin FY2023 -1.78%. Operating margin FY2024 -5.90%. Operating margin FY2025 -5.14%. Net margin FY2021 8.61%. Net margin FY2022 9.26%. Net margin FY2023 3.36%. Net margin FY2024 -2.53%. Net margin FY2025 -2.79%.

Income trends

Revenue

518.78M HKD-3.86%

Operating income

−26.69M HKD+16.23%

Net income

−14.46M HKD-5.80%
Income trends across reported periods1.26B HKD791.2M HKD320.88M HKD−149.43M HKDRevenue, FY2021: 1.12B HKDRevenue, FY2022: 1.14B HKDRevenue, FY2023: 697.51M HKDRevenue, FY2024: 539.61M HKDRevenue, FY2025: 518.78M HKDOperating income, FY2021: 119.8M HKDOperating income, FY2022: 123.78M HKDOperating income, FY2023: −12.39M HKDOperating income, FY2024: −31.85M HKDOperating income, FY2025: −26.69M HKDNet income, FY2021: 96.26M HKDNet income, FY2022: 105.95M HKDNet income, FY2023: 23.46M HKDNet income, FY2024: −13.67M HKDNet income, FY2025: −14.46M HKDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 1.12B HKD. Revenue FY2022 1.14B HKD. Revenue FY2023 697.51M HKD. Revenue FY2024 539.61M HKD. Revenue FY2025 518.78M HKD. Operating income FY2021 119.8M HKD. Operating income FY2022 123.78M HKD. Operating income FY2023 −12.39M HKD. Operating income FY2024 −31.85M HKD. Operating income FY2025 −26.69M HKD. Net income FY2021 96.26M HKD. Net income FY2022 105.95M HKD. Net income FY2023 23.46M HKD. Net income FY2024 −13.67M HKD. Net income FY2025 −14.46M HKD.
Metric (HKD)FY2025FY2024FY2023FY2022FY2021
Revenue518.78M HKD539.61M HKD697.51M HKD1.14B HKD1.12B HKD
Cost of goods sold410.77M HKD429.49M HKD561.6M HKD883.87M HKD863.83M HKD
Gross profit108.01M HKD110.12M HKD135.91M HKD260.07M HKD253.86M HKD
Research and development16.36M HKD17.8M HKD29.49M HKD32.96M HKD30.87M HKD
Selling, general, and administrative118.33M HKD124.18M HKD119.38M HKD136.51M HKD133.71M HKD
Operating expenses134.69M HKD141.98M HKD148.31M HKD136.29M HKD134.06M HKD
Interest income1.7M HKD3.04M HKD2.93M HKD928K HKD794K HKD
Interest expense1.33M HKD2.8M HKD5.44M HKD7.21M HKD7.67M HKD
Depreciation and amortization45.65M HKD47.04M HKD50.71M HKD49.63M HKD51.02M HKD
Operating income−26.69M HKD−31.85M HKD−12.39M HKD123.78M HKD119.8M HKD
Net income−14.46M HKD−13.67M HKD23.46M HKD105.95M HKD96.26M HKD

Company facts updated Aug 24, 2026.

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