483 — Bauhaus International (Holdings) Limited — posted a 12% price gain over the past week and month combined, closing at HK$0.25 on April 28. That move stands out for a micro-cap Hong Kong apparel name with a thin ownership base and very limited active data coverage. The question the gain raises is whether it reflects renewed interest in a deeply illiquid stock, or simply the volatility that comes with a negligible free float.
The lending market tells very little. Short interest data available to ORTEX dates to late 2020, when estimated short interest was effectively zero — less than 0.01% of the free float. Cost-to-borrow and availability figures are similarly stale, last captured in September 2020. No current borrow market signal can be drawn from this data. There is no meaningful short interest story here, and no squeeze dynamic to track.
Ownership concentration is the more notable feature of this stock's structure. Three named holders account for just under 20% of shares. She Man Tong (Winnie), the founder, held roughly 9.9% as of January 2026. Activist investor David Webb held 8%, last reported in May 2025 with no change in position. A third holder, Yat Hang Yeung, held 1.3% as of March 2025. The insider trade log — now over a year stale — shows Webb adding a small parcel of 104,000 shares in May 2025 at HK$0.168, and the founder accumulating steadily across March 2024 at prices ranging from HK$0.37 to HK$0.54. Those purchases were made well above the current HK$0.25 price, meaning the founder is sitting on unrealised losses from that buying campaign.
The factor score picture adds limited clarity. The short score rank at the 95th percentile sounds alarming but is based on data that is more than five years old and has no current relevance. The dividend score of 27 out of 100 is low, consistent with the dividend history: the last recorded distributions were a series of special dividends in 2021, with nothing recorded since. The sector score of 50 is neutral. Valuation data is sparse — enterprise value is recorded at approximately HK$30.8 million, reflecting the stock's micro-cap status, but no earnings multiples are available.
The next scheduled earnings event falls on June 26, 2026. The recent history of post-result moves is consistently negative: the March 2026 print saw a 7.4% one-day decline, while the November 2025 result produced a 3.4% drop the following day. Both the one-day and five-day moves matched in each case, suggesting limited recovery after results. That pattern is worth noting as the June date approaches, particularly given the stock has already rallied sharply this month with no obvious catalyst in the news flow.
The June earnings release and whether it can break the streak of post-result declines is the natural next focal point for anyone watching this name.
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