B 
Beijingwest Industries International 2339.HK · HKD
Consumer Discretionary · HKEX · 🇭🇰 Hong Kong
3.62
+1.12%
Close of 9 Nov 2026, in HKD
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At a glance
Figures in HKD, from our data supplier.
Revenue
HK$2.97bn
FY2016FY2025
Net income
−HK$41.9m
FY2016FY2025
Free cash flow
HK$35.8m
FY2016FY2025
Shareholders' equity
HK$769.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$2.97bn | HK$2.77bn | HK$2.71bn | HK$2.48bn | HK$2.60bn | HK$2.31bn | HK$2.65bn | HK$3.42bn | HK$3.90bn | HK$4.35bn |
| Gross profit | HK$337.9m | HK$458.3m | HK$398.7m | HK$434.1m | HK$411.8m | HK$382.9m | HK$552.2m | HK$622.7m | HK$747.2m | HK$926.6m |
| Research and development | HK$169.2m | HK$392.9m | HK$275.5m | HK$237.4m | HK$246.1m | HK$262.2m | HK$294.8m | HK$386.8m | HK$490.6m | HK$494.2m |
| Operating income | −HK$36.5m | −HK$106.5m | −HK$75.6m | HK$25.2m | HK$31.4m | −HK$87.7m | HK$45.8m | HK$59.3m | HK$19.5m | HK$203.9m |
| Net income | −HK$41.9m | −HK$128.0m | −HK$55.3m | −HK$4.9m | −HK$9.3m | −HK$51.5m | HK$4.9m | HK$120.9m | −HK$8.6m | HK$107.9m |
| Diluted earnings per share | -0.05 | -0.19 | -0.10 | -0.01 | -0.02 | -0.09 | 0.01 | 0.21 | -0.01 | 0.19 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$1.91bn | HK$2.03bn | HK$1.95bn | HK$1.94bn | HK$2.05bn | HK$2.25bn | HK$1.94bn | HK$2.17bn | HK$2.82bn | HK$2.45bn |
| Cash and short-term investments | HK$142.7m | HK$134.1m | HK$136.0m | HK$122.8m | HK$184.6m | HK$424.1m | HK$366.8m | HK$727.9m | HK$652.8m | HK$517.7m |
| Total liabilities | HK$1.14bn | HK$1.28bn | HK$1.10bn | HK$1.09bn | HK$1.15bn | HK$1.31bn | HK$980.5m | HK$1.15bn | HK$1.80bn | HK$1.53bn |
| Debt | HK$274.7m | HK$259.7m | HK$300.4m | HK$306.6m | HK$401.1m | HK$344.2m | HK$258.4m | HK$349.8m | HK$567.1m | HK$208.9m |
| Shareholders' equity | HK$769.7m | HK$749.8m | HK$853.9m | HK$847.9m | HK$896.9m | HK$933.7m | HK$963.4m | HK$1.02bn | HK$892.3m | HK$789.2m |
| Shares outstanding | 862m | 660m | 574m | 574m | 574m | 574m | 574m | 574m | 574m | 576m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$168.2m | HK$99.6m | HK$70.7m | HK$114.0m | −HK$66.1m | HK$157.3m | HK$17.9m | HK$222.9m | −HK$63.4m | HK$202.4m |
| Capital spending | −HK$132.4m | −HK$117.4m | −HK$48.8m | −HK$55.1m | −HK$54.5m | −HK$104.6m | −HK$74.5m | −HK$167.3m | −HK$199.8m | −HK$212.8m |
| Free cash flow | HK$35.8m | −HK$17.8m | HK$21.9m | HK$58.9m | −HK$120.6m | HK$52.6m | −HK$56.6m | HK$55.6m | −HK$263.2m | −HK$10.4m |
| Dividends paid | — | — | — | — | — | — | −HK$34.5m | −HK$34.5m | −HK$58.8m | −HK$58.8m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$1.54bn | HK$1.34bn | HK$813.5m | HK$1.33bn | HK$1.45bn | HK$1.28bn | HK$639.1m | HK$1.43bn |
| Gross profit | HK$156.0m | HK$189.2m | HK$74.3m | HK$236.5m | HK$221.7m | HK$206.2m | HK$103.1m | HK$192.5m |
| Operating income | −HK$10.5m | HK$30.2m | −HK$6.8m | −HK$85.4m | −HK$35.9m | −HK$62.9m | −HK$30.8m | −HK$27.1m |
| Net income | −HK$38.6m | −HK$12.2m | −HK$14.9m | −HK$76.4m | −HK$51.6m | −HK$78.0m | −HK$39.0m | HK$22.7m |
| Diluted earnings per share | -0.03 | -0.01 | -0.02 | -0.12 | -0.08 | -0.14 | -0.07 | 0.04 |
| Cash from operations | — | HK$171.0m | −HK$2.0m | HK$22.0m | HK$77.0m | HK$49.0m | HK$24.0m | HK$18.0m |
| Capital spending | — | −HK$94.0m | −HK$37.0m | −HK$12.0m | −HK$93.0m | −HK$27.0m | −HK$13.0m | −HK$21.0m |
| Free cash flow | — | HK$77.0m | −HK$39.0m | HK$10.0m | −HK$16.0m | HK$22.0m | HK$11.0m | −HK$3.0m |
| Total assets | HK$2.51bn | HK$1.91bn | HK$2.10bn | HK$2.03bn | HK$2.08bn | HK$1.95bn | HK$1.95bn | HK$2.11bn |
| Cash and short-term investments | HK$656.9m | HK$142.7m | HK$108.9m | HK$134.1m | HK$109.5m | HK$136.0m | HK$139.8m | HK$109.6m |
| Debt | HK$425.1m | HK$274.7m | HK$289.7m | HK$259.7m | HK$280.4m | HK$300.4m | — | HK$309.9m |
| Shareholders' equity | HK$1.07bn | HK$769.7m | HK$785.6m | HK$749.8m | HK$779.8m | HK$853.9m | HK$853.9m | HK$918.3m |
Financial ratios
Data as of 12 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 11.4% | 16.5% | 14.7% | 17.5% | 15.8% | 16.6% |
| Operating margin | -1.2% | -3.8% | -2.8% | 1.0% | 1.2% | -1.3% |
| Net margin | -1.4% | -4.6% | -2.0% | -0.2% | -0.4% | -2.2% |
| Return on equity | -5.4% | -17.1% | -6.5% | -0.6% | -1.0% | -5.5% |
| Return on assets | -2.2% | -6.3% | -2.8% | -0.3% | -0.5% | -2.3% |
| Free cash flow yield | 7.7% | 7.2% | 4.6% | 6.5% | -0.4% | 10.0% |
| Revenue growth | 7.0% | 2.4% | 9.3% | -4.7% | 12.5% | -12.9% |
| Earnings growth | -67.3% | 131.3% | 1032.4% | -47.5% | -81.9% | -1154.3% |
| Current ratio | 1.14x | 1.14x | 1.47x | 1.56x | 1.55x | 1.40x |
| Debt to equity | 0.06x | 0.05x | 0.05x | 0.04x | 0.11x | 0.11x |
| Equity ratio | 40.2% | 36.9% | 43.7% | 43.8% | 43.8% | 41.5% |
| Interest coverage | -4.61x | -8.99x | -6.28x | 1.68x | 1.71x | -2.34x |
| R&D as a share of sales | 5.7% | 14.2% | 10.2% | 9.6% | 9.5% | 11.3% |
| Buybacks as a share of market value | -30.6% | -14.8% | 0.0% | 0.0% | 0.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 6.2% | 5.1% | 0.0% |
| Operating income | — | -16.1% | — |
| Net income | 104.7% | -4.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 13.9% | 14.9% | 15.3% | 17.9% |
| Operating margin | -2.5% | -1.8% | -1.6% | 0.6% |
| Net margin | -3.0% | -2.1% | -1.8% | 0.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -75.9 | -0.9 | -2.9 | -43.5 | -46.9 | -7.8 | 36.2 | 2.4 | -52.3 | 6.6 |
| Price to sales | 1.1 | 0.0 | 0.1 | 0.1 | 0.2 | 0.2 | 0.1 | 0.1 | 0.1 | 0.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 28 May 2019.
| FY2019 | FY2017 | FY2008 | FY2007 | FY2006 | FY2005 | FY2004 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.04 | 0.02 | 3.25 | 4.35 | 3.95 | 3.25 | 2.45 |
- 10-to-1 reverse split · 17 Nov 2016
- 5-to-1 reverse split · 31 Dec 2013
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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