Blue River Holdings Limited (0498) AI Stock Analysis

• Market Cap: HK$179.04M
• Dividend Yield: N/A
• Average Volume (3M): 108.12K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.99
• Revenue Growth: 10.32%
• EPS Growth: 75.58%
• Country: HK
• Employees: 75
• Sector: Industrials
• Sector Strength: 72
• Industry: Engineering & Construction
• EPS (TTM): -0.02
• Shares Outstanding: 1,040,946,200
• 10 Day Avg. Volume: 149,080
• 30 Day Avg. Volume: 108,117
• PEG Ratio: 0.02
• Price to Book (P/B): 0.11
• Price to Sales (P/S): 2.24
• P/FCF Ratio: -2.33
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 49 Neutral
• Price Target: HK$0.17 ▲(39.17% Upside)

The score is primarily constrained by weak financial performance, marked by persistent losses and negative cash flows. Technical indicators are comparatively supportive (price above major moving averages and positive MACD), but valuation remains challenged due to unprofitability and the lack of a dividend yield.

Positive Factors

Diversified business model

A multi-asset investment model spanning property, tech and renewables provides durable revenue diversification and reduces single-market cyclicality. Multiple income streams (management fees, rentals, licensing, capital gains) support resilience and optionality over the medium term.

Exposure to structural growth sectors

Direct exposure to technology commercialization and renewable energy projects aligns the firm with secular growth trends and policy support. These sectors can generate recurring licensing, project revenues and incentive-driven returns that sustain growth potential beyond short-term cycles.

Manageable leverage

Low debt-to-equity and a stable equity ratio preserve financial flexibility, lowering default risk and enabling strategic investments or restructuring. This buffer is particularly valuable given operating losses, allowing more options for capital allocation over coming months.

Negative Factors

Persistent unprofitability

Sustained losses and negative operating margins indicate structural profitability issues. Over a 2-6 month horizon, this erodes retained earnings, limits reinvestment capacity, and signals the company may struggle to achieve self-sustaining profits without material operational changes.

Negative operating and free cash flows

Persistent negative operating and free cash flows strain liquidity and reduce runway for growth initiatives. This forces reliance on external financing or asset disposals, increasing execution risk and potentially diluting shareholders or delaying strategic projects over the medium term.

Negative return on equity

A negative ROE means shareholders' capital is being destroyed rather than grown. This undermines long-term value creation, makes future capital raises more costly, and complicates efforts to attract investment needed to scale operations or fund turnaround plans.

Blue River Holdings Limited Business Overview & Revenue Model

Company Description

Blue River Holdings Limited (0498) is a diversified investment company based in Australia, focusing on various sectors including real estate, technology, and renewable energy. The company aims to create long-term value for its shareholders by strategically investing in high-potential assets and businesses. Its core products and services encompass property development, management of investment funds, and advisory services in emerging technologies.

How the Company Makes Money

Blue River Holdings Limited generates revenue through multiple streams, primarily from its investments in real estate and technology sectors. The company earns income from property management fees, rental income from its real estate portfolio, and capital gains from the sale of properties. In addition, Blue River Holdings collaborates with key partners in the technology space to develop and commercialize innovative solutions, which contributes to its revenue through licensing agreements and equity stakes in promising startups. Furthermore, the company may engage in strategic partnerships to co-invest in renewable energy projects, yielding additional revenue through power purchase agreements and government incentives.

Blue River Holdings Limited Financial Statement Overview

Summary

Financial statements indicate sustained weakness: consistently negative net income, declining revenue, and negative EBIT/EBITDA margins. Cash flow remains pressured with negative operating and free cash flows. The balance sheet shows relatively low leverage, but negative ROE and persistent losses materially reduce overall financial strength.

Income Statement

The income statement reveals significant challenges with consistent negative net income and declining revenue. Gross profit margins have been volatile, and the company has experienced negative revenue growth in recent years. The EBIT and EBITDA margins are also negative, indicating operational inefficiencies.

Balance Sheet

The balance sheet shows a relatively low debt-to-equity ratio, suggesting manageable leverage. However, the return on equity is negative, indicating that the company is not generating sufficient returns on its equity base. The equity ratio is stable, but the overall financial health is weakened by persistent losses.

Cash Flow

Cash flow analysis indicates negative operating and free cash flows, with inconsistent growth trends. The operating cash flow to net income ratio is negative, reflecting cash flow challenges. Despite some improvement in free cash flow growth in certain years, the overall cash flow position remains weak.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	40.52M	39.01M	61.97M	77.09M	10.79B	277.29M
Gross Profit	8.73M	10.11M	23.78M	18.10M	433.40M	121.59M
EBITDA	-56.54M	-170.28M	-79.23M	-108.04M	-1.22B	-171.61M
Net Income	-177.38M	-177.38M	-265.26M	-605.41M	-1.63B	151.29M
Balance Sheet
Total Assets	939.40M	939.40M	976.06M	1.95B	11.13B	6.58B
Cash, Cash Equivalents and Short-Term Investments	21.58M	21.58M	20.12M	774.24M	943.36M	1.74B
Total Debt	94.79M	94.79M	25.41M	554.62M	1.74B	419.96M
Total Liabilities	121.26M	121.26M	49.76M	605.29M	8.10B	2.35B
Stockholders Equity	825.18M	825.18M	933.33M	1.35B	2.16B	3.90B
Cash Flow
Free Cash Flow	-37.53M	-37.53M	-76.70M	-1.00B	628.86M	-603.26M
Operating Cash Flow	-35.99M	-35.99M	-73.12M	-971.65M	727.93M	-468.92M
Investing Cash Flow	-41.66M	-28.66M	-232.58M	-155.31M	51.99M	236.52M
Financing Cash Flow	66.68M	66.14M	-447.48M	960.79M	-19.11M	4.40M

Blue River Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.12
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0498, the sentiment is Positive. The current price of 0.12 is below the 20-day moving average (MA) of 0.17, below the 50-day MA of 0.15, and below the 200-day MA of 0.12, indicating a bullish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 53.21 is Neutral, neither overbought nor oversold. The STOCH value of 45.19 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0498.

Blue River Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
1429	50 Neutral	HK$278.40M	-3.39	-27.98%	―	-8.31%	-56.88%
0498	49 Neutral	HK$179.04M	-2.40	-9.20%	―	10.32%	75.58%
1741	48 Neutral	HK$193.60M	-16.13	-47.66%	―	-34.70%	-388.24%
2193	45 Neutral	HK$104.90M	-5.66	-6.89%	―	-1.91%	18.30%
6080	44 Neutral	HK$104.19M	-6.74	-9.58%	―	-9.82%	-309.09%
8262	40 Underperform	HK$43.39M	-3.79	-12.85%	―	8.74%	48.76%

Blue River Holdings Limited Corporate Events

Blue River Holdings Reports Improved Interim Results Despite Ongoing Losses

Blue River Holdings Limited reported its unaudited consolidated interim results for the six months ending September 30, 2025. The company experienced a notable increase in revenue from sales of goods, rising from HK$21,247,000 in 2024 to HK$32,216,000 in 2025. Despite this increase, the company reported a loss of HK$19,934,000 for the period, which is a significant improvement from the HK$122,614,000 loss in the same period last year. The improvement was attributed to reversed impairment losses on financial assets and other gains, although administrative expenses and the share of losses from associates remained high.

The most recent analyst rating on (HK:0498) stock is a Hold with a HK$0.15 price target. To see the full list of analyst forecasts on Blue River Holdings Limited stock, see the HK:0498 Stock Forecast page.

Blue River Holdings Schedules Board Meeting for Interim Results

Blue River Holdings Limited has announced a board meeting scheduled for November 28, 2025, to approve the interim results for the six months ending September 30, 2025, and to consider the payment of an interim dividend. This meeting is significant as it will provide insights into the company’s financial performance and potential shareholder returns, impacting its market positioning and stakeholder interests.

Blue River Holdings Projects Significant Reduction in Losses for 2025

Blue River Holdings Limited has announced an expected reduction in its financial losses for the six months ending September 2025. The company’s loss is anticipated to decrease to approximately HK$20 million, a significant improvement from the HK$123 million loss recorded in the same period in 2024. This improvement is attributed to several factors, including a decrease in net loss from associates, a reversal of impairment loss, other gains, increased other income, no loss on fair value changes of investment properties, and reduced administrative expenses. These developments suggest a positive shift in the company’s financial health, potentially impacting its market position and stakeholder confidence.