Hengtai Securities Co., Ltd. Class H (HK:1476)
:1476
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Hengtai Securities Co., Ltd. Class H
(1476)
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Rating:51Neutral
Price Target:
HK$1.50
▼(-18.03% Downside)
Action:Reiterated
Date:03/27/26
The score is primarily constrained by weak cash flow conversion (negative free cash flow in 2023–2025) and rising leverage despite improved profitability. Technicals are also bearish with the stock trading below major moving averages and negative momentum. Valuation is moderate (P/E ~12), offering some support but not enough to offset financial quality and trend risks.
Positive Factors
Revenue and earnings recovery
A strong revenue and net-income rebound in 2025 shows the firm can restore top-line growth and profitability after prior weakness. Durable revenue momentum and restored margins support reinvestment capacity and strengthen core earnings generation over a multi-quarter horizon.
Negative Factors
Weak cash flow conversion
Earnings have not translated into consistent cash: OCF barely positive in 2025 and FCF negative for three consecutive years. Persistent weak cash conversion undermines funding flexibility, raises refinancing risk, and limits the firm's ability to self-fund growth or absorb shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and earnings recovery
A strong revenue and net-income rebound in 2025 shows the firm can restore top-line growth and profitability after prior weakness. Durable revenue momentum and restored margins support reinvestment capacity and strengthen core earnings generation over a multi-quarter horizon.
Read all positive factors
Hengtai Securities Co., Ltd. Class H (1476) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$3.52B
Dividend YieldN/A
Average Volume (3M)188.27K
Price to Earnings (P/E)11.5
Beta (1Y)1.22
Revenue Growth24.14%
EPS Growth83.51%
CountryHK
Employees2,491
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)0.12
Shares Outstanding450,846,000
10 Day Avg. Volume74,700
30 Day Avg. Volume188,266
Financial Highlights & Ratios
PEG Ratio0.13
Price to Book (P/B)0.44
Price to Sales (P/S)1.13
P/FCF Ratio-85.63
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
Hengtai Securities Co., Ltd. Class H Business Overview & Revenue Model
Company Description
Hengtai Securities Co., Ltd provides a range of financial products and services in China. The company's Brokerage and Wealth Management segment trades in stocks, funds, bonds, and futures on behalf of the clients; and provides investment and finan...
How the Company Makes Money
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Hengtai Securities Co., Ltd. Class H Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
58
Neutral
Cash Flow
33
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.38B | 2.35B | 1.97B | 2.23B | 3.21B |
| Gross Profit | 2.66B | 2.17B | 1.81B | 2.23B | 3.21B |
| EBITDA | 661.29M | 748.63M | 671.73M | -1.32B | 1.17B |
| Net Income | 316.53M | 176.28M | 64.14M | -1.29B | 279.25M |
Balance Sheet | |||||
| Total Assets | 43.02B | 39.98B | 31.20B | 31.02B | 37.24B |
| Cash, Cash Equivalents and Short-Term Investments | 3.32B | 14.21B | 12.20B | 11.31B | 15.11B |
| Total Debt | 11.31B | 10.03B | 8.09B | 8.28B | 10.87B |
| Total Liabilities | 34.16B | 31.27B | 23.01B | 22.84B | 27.52B |
| Stockholders Equity | 8.60B | 8.30B | 8.05B | 8.00B | 9.32B |
Cash Flow | |||||
| Free Cash Flow | -44.53M | -1.20B | -280.82M | 2.00B | 623.66M |
| Operating Cash Flow | 39.77M | -1.12B | -201.80M | 2.10B | 779.93M |
| Investing Cash Flow | -78.67M | -315.01M | 577.38M | -973.33M | -466.14M |
| Financing Cash Flow | 541.15M | 1.65B | -371.82M | -1.61B | -344.16M |
Hengtai Securities Co., Ltd. Class H Technical Analysis
Negative
1.83
Price Trends
1.50
Negative
1.65
Negative
1.80
Negative
Market Momentum
-0.03
Negative
43.52
Neutral
69.84
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1476, the sentiment is Negative. The current price of 1.83 is above the 20-day moving average (MA) of 1.41, above the 50-day MA of 1.50, and above the 200-day MA of 1.80, indicating a bearish trend. The MACD of -0.03 indicates Negative momentum. The RSI at 43.52 is Neutral, neither overbought nor oversold. The STOCH value of 69.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1476.
Hengtai Securities Co., Ltd. Class H Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | HK$181.39B | 4.86 | 10.70% | 2.80% | 2.39% | 46.72% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | HK$17.86B | 11.85 | 37.98% | 4.01% | 11.40% | 11.52% | |
58 Neutral | HK$17.96B | 11.02 | 3.63% | 1.25% | 29.71% | 145.24% | |
54 Neutral | HK$122.75B | 6.39 | 8.68% | 2.89% | -21.60% | 73.59% | |
53 Neutral | HK$21.50B | 7.63 | 8.60% | 2.75% | 40.32% | 287.91% | |
51 Neutral | HK$3.52B | 11.51 | 3.77% | ― | 24.14% | 83.51% |
* Financial Sector Average
HK:1476
Hengtai Securities Co., Ltd. Class H
1.35
-0.50
-27.03%
HK:6066
CSC Financial Co., Ltd. Class H
11.46
2.61
29.42%
HK:1788
Guotai Junan International Holdings Limited
2.26
1.18
109.26%
HK:1428
Bright Smart Securities & Commodities Group Limited
10.52
4.18
65.93%
HK:6806
Shenwan Hongyuan Group Co., Ltd. Class H
2.72
0.61
28.67%
HK:1375
Central China Securities Co., Ltd. Class H
1.81
0.29
19.08%
Hengtai Securities Co., Ltd. Class H Corporate Events
Hengtai Securities Expands Connected Property Leases and Resets Caps
May 8, 2026
Hengtai Securities has signed a supplemental framework agreement with Desheng Investment to expand the scope of leased properties and extend the term of its 2025 property lease framework through the end of 2027. The move reflects the group’s...
Hengtai Securities Shareholders Unanimously Back Change to Bond Issuance Plan
May 8, 2026
Hengtai Securities Co., Ltd. Class H held its first extraordinary general meeting of 2026 in Beijing, where shareholders representing approximately 82.69% of the company’s issued voting share capital were present in person or by proxy. The m...
Financial Street Securities Sets 2025 Final Dividend and Share Register Timetable
May 8, 2026
Financial Street Securities Co., Limited has proposed a final cash dividend of RMB0.15 per ten shares for the 2025 financial year, payable to both domestic and H-share holders subject to approval at the forthcoming annual general meeting. The move...
Financial Street Securities Sets 2025 Final Dividend and Key Dates for H-Shareholders
May 8, 2026
Financial Street Securities Co., Limited has declared a final ordinary cash dividend of RMB 0.15 per 10 shares for the financial year ended 31 December 2025, with shareholder approval set for 20 May 2026. The dividend will be paid in Hong Kong dol...
Financial Street Securities Sets Updated Final Dividend and Clarifies Tax Terms for H Shareholders
Apr 15, 2026
Financial Street Securities Co., Limited has announced an updated final dividend for the year ended 31 December 2025, confirming a payout of RMB 0.15 per 10 shares subject to shareholder approval scheduled for 20 May 2026. The company also outline...
Hengtai Securities Shifts Bond Issuance to Public and Private Mix to Cut Financing Costs
Apr 15, 2026
Hengtai Securities plans to revise its corporate bond issuance plan, shifting from a purely private placement to a mix of public and private offerings in the mainland China market. The proposed bonds will have a total issuance size of up to RMB1.4...
Hengtai Securities Calls Extraordinary Meeting to Revise Corporate Bond Issuance Plan
Apr 15, 2026
Hengtai Securities Co., Ltd. Class H has convened its first extraordinary general meeting of 2026 for 8 May in Beijing to seek shareholder approval for a special resolution to change its corporate bond issuance plan. The proposed adjustment signal...
Hengtai Securities Sets 2025 AGM to Approve Results, Profit Plan and Auditor Reappointment
Apr 15, 2026
Hengtai Securities Co., Ltd. Class H has convened its 2025 annual general meeting for 20 May 2026 in Beijing, where shareholders will review the board and independent directors’ reports and the full annual report for the year ended 31 Decemb...
Hengtai Securities Releases Audited 2025 Results and Sets Timeline for Full Annual Report
Mar 25, 2026
Hengtai Securities Co., Ltd. Class H has released its audited annual results for the year ended 31 December 2025, fulfilling Hong Kong listing requirements and confirming that the figures have been reviewed by its audit committee. The company will...
Financial Street Securities Proposes 2025 Final Dividend and Details Withholding Tax Rules
Mar 25, 2026
Financial Street Securities Co., Limited has proposed a final ordinary dividend of RMB 0.15 per 10 shares for the financial year ended 31 December 2025, with the Hong Kong dollar equivalent, key record dates and payment date still to be announced....
Financial Street Securities Updates on Regulatory Penalties Involving Non-Executive Director
Mar 16, 2026
Financial Street Securities has updated investors on regulatory developments involving non-executive director Wang Linjing, linked to his former role at Tianfeng Securities. The company clarified that Chinese regulators and exchanges have imposed ...
Financial Street Securities Schedules Board Meeting to Approve 2025 Results and Consider Dividend
Mar 13, 2026
Financial Street Securities Co., Limited has scheduled a board meeting for 25 March 2026 to review and approve its annual results for the year ended 31 December 2025. The board will also consider whether to recommend a final dividend, a decision t...
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.