Pinestone Capital Ltd (HK:0804)
:0804
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Pinestone Capital Ltd
(0804)
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Rating:51Neutral
Price Target:
HK$4.00
▲(12.99% Upside)
Action:Reiterated
Date:05/03/26
The score is primarily constrained by weak financial performance—ongoing net losses and volatile/negative cash flow—despite a strong, low-debt balance sheet. Technicals are moderately supportive with the stock trading above key moving averages and neutral momentum. Valuation remains challenged due to the loss-making P/E and no stated dividend yield.
Positive Factors
Conservative Balance Sheet
A very low debt-to-equity profile and rising equity provide durable financial flexibility. Over a multi-month horizon this reduces refinancing/default risk, supports continued operations during cash burn, and allows strategic investment or opportunistic M&A without immediate funding pressure.
Negative Factors
Persistent Net Losses
Multi-year net losses and a deeply negative 2025 margin indicate earnings conversion issues despite revenue growth. This structural unprofitability undermines shareholder returns and must be resolved by durable expense control or sustained revenue scale to achieve long-term viability.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
A very low debt-to-equity profile and rising equity provide durable financial flexibility. Over a multi-month horizon this reduces refinancing/default risk, supports continued operations during cash burn, and allows strategic investment or opportunistic M&A without immediate funding pressure.
Read all positive factors
Pinestone Capital Ltd (0804) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$219.89M
Dividend YieldN/A
Average Volume (3M)41.20K
Price to Earnings (P/E)―
Beta (1Y)0.90
Revenue Growth12.81%
EPS Growth66.15%
CountryHK
Employees27
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)-0.08
Shares Outstanding60,910,010
10 Day Avg. Volume80,290
30 Day Avg. Volume41,201
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)0.79
Price to Sales (P/S)5.11
P/FCF Ratio-3.21
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Pinestone Capital Ltd Business Overview & Revenue Model
Company Description
Pinestone Capital Limited, an investment holding company, provides bespoke financial services to individual and corporate clients in Hong Kong. It offers securities brokerage services; securities-backed lending services, including margin financing...
Pinestone Capital Ltd Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
72
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 25.49M | 30.23M | 25.09M | 19.57M | 19.56M | 24.97M |
| Gross Profit | 25.49M | 28.00M | 25.08M | 19.52M | 19.47M | 24.91M |
| EBITDA | -33.25M | -11.12M | -30.67M | -22.52M | -47.31M | -3.15M |
| Net Income | -31.67M | -17.34M | -31.67M | -24.39M | -41.47M | -4.93M |
Balance Sheet | ||||||
| Total Assets | 154.87M | 208.86M | 154.87M | 176.01M | 169.94M | 199.30M |
| Cash, Cash Equivalents and Short-Term Investments | 16.37M | 41.81M | 16.37M | 23.80M | 30.14M | 45.58M |
| Total Debt | 0.00 | 1.86M | 0.00 | 622.00K | 1.59M | 2.51M |
| Total Liabilities | 16.50M | 13.21M | 16.50M | 5.98M | 5.47M | 7.58M |
| Stockholders Equity | 138.37M | 195.66M | 138.37M | 170.04M | 164.48M | 191.72M |
Cash Flow | ||||||
| Free Cash Flow | -11.90M | -48.17M | -686.00K | -35.69M | -28.87M | -19.45M |
| Operating Cash Flow | -11.90M | -48.17M | -686.00K | -35.69M | -28.87M | -18.89M |
| Investing Cash Flow | 11.26M | -300.00K | -6.15M | 10.00K | 221.00K | -399.00K |
| Financing Cash Flow | -2.57M | 74.36M | -631.00K | 28.94M | 13.21M | -2.00M |
Pinestone Capital Ltd Technical Analysis
Neutral
3.54
Price Trends
3.64
Negative
3.60
Positive
3.43
Positive
Market Momentum
-0.03
Positive
47.13
Neutral
53.28
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0804, the sentiment is Neutral. The current price of 3.54 is below the 20-day moving average (MA) of 3.73, below the 50-day MA of 3.64, and above the 200-day MA of 3.43, indicating a neutral trend. The MACD of -0.03 indicates Positive momentum. The RSI at 47.13 is Neutral, neither overbought nor oversold. The STOCH value of 53.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:0804.
Pinestone Capital Ltd Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | HK$113.43M | 0.12 | 35.48% | ― | 507.50% | ― | |
60 Neutral | HK$96.54M | 0.41 | 48.36% | ― | 34.66% | ― | |
51 Neutral | HK$219.89M | -4.29 | -10.06% | ― | 12.81% | 66.15% | |
51 Neutral | HK$309.06M | 66.37 | -4.79% | 6.45% | -10.35% | 86.76% | |
50 Neutral | HK$41.75M | -0.71 | -3.35% | ― | ― | 60.48% | |
47 Neutral | HK$166.28M | -4.52 | -26.49% | ― | 52.59% | 31.25% |
* Financial Sector Average
HK:0804
Pinestone Capital Ltd
3.61
2.11
140.67%
HK:8226
KOALA Financial Group
0.10
-0.02
-15.25%
HK:2324
Capital VC Limited
0.13
<0.01
6.78%
HK:8168
Amasse Capital Holdings Limited
0.11
0.05
86.67%
HK:8193
Asia-Pac Financial Investment Company Limited
0.35
0.15
80.63%
HK:8439
Somerley Capital Holdings Ltd
2.11
1.75
489.39%
Pinestone Capital Ltd Corporate Events
Pinestone Capital Sets 2026 AGM to Approve Accounts, Board Slate and Share Buy-Back Mandate
Apr 29, 2026
Pinestone Capital Limited has called its annual general meeting for 5 June 2026 in Central, Hong Kong, where shareholders will review the audited consolidated financial statements for the year ended 31 December 2025 and consider a final dividend. ...
Pinestone Narrows Loss as Fee Income Rises but Lending Pressures Persist
Mar 27, 2026
Pinestone Capital Limited, a Hong Kong-listed financial services provider, operates across securities brokerage, placing and underwriting, margin financing, and securities-backed lending, targeting clients seeking capital markets access and credit...
Pinestone Capital Warns of 2025 Loss Despite Narrowing Deficit
Mar 20, 2026
Pinestone Capital has issued a profit warning, saying it expects to post a net loss of between HK$16 million and HK$20 million for the year ended 31 December 2025, narrowing from a HK$31.7 million loss a year earlier. The anticipated loss is mainl...
Pinestone Capital Reshapes Nomination Committee to Meet New Hong Kong Governance Rules
Mar 6, 2026
Pinestone Capital Limited has adjusted the composition of its board’s nomination committee, appointing executive director Cheung Ka Yi as a member effective 6 March 2026, creating a four-person body with three independent non-executive direc...
Pinestone Capital Clarifies Board Composition and Governance Roles
Mar 6, 2026
Pinestone Capital Limited has released an updated list of its directors, detailing the composition of the board and identifying the executive, non-executive, and independent non-executive members, including two co-chairmen. The company also clarif...
Pinestone Capital Sets March Board Meeting to Approve 2025 Final Results
Mar 2, 2026
Pinestone Capital Limited has scheduled a board meeting in Hong Kong on 27 March 2026 to review and approve the audited final results for the twelve months ended 31 December 2025. The board will also consider approving the publication of the full-...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.