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:ReiteratedDate: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 & Profit Recovery
A material top-line and profit rebound in 2025 demonstrates the firm can restore earnings after prior losses. This recovery suggests management can convert market opportunities into sustained fee and trading income, improving credit capacity and reinvestment potential if market issuance and turnover remain supportive.
Negative Factors
Weak Cash Generation
Negative free cash flow across multiple years and minimal operating cash conversion in 2025 indicate earnings have not translated reliably into cash. This undermines funding flexibility for capital needs, dividends or buybacks and raises dependence on external financing during market stress, limiting strategic optionality.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & Profit Recovery
A material top-line and profit rebound in 2025 demonstrates the firm can restore earnings after prior losses. This recovery suggests management can convert market opportunities into sustained fee and trading income, improving credit capacity and reinvestment potential if market issuance and turnover remain supportive.
Read all positive factors
Hengtai Securities Co., Ltd. Class H (1476) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$3.65B
Dividend YieldN/A
Average Volume (3M)188.27K
Price to Earnings (P/E)12.0
Beta (1Y)1.11
Revenue Growth24.14%
EPS Growth83.51%
CountryHK
Employees2,491
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)0.04
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
The company makes money primarily by earning fees, commissions, and trading/investment income across its capital-markets businesses. Key revenue streams typically include: (1) Brokerage and trading services: commissions and fees from executing sec...
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
1.64
Negative
1.75
Negative
1.86
Negative
Market Momentum
-0.03
Negative
35.26
Neutral
26.67
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 1.54, above the 50-day MA of 1.64, and below the 200-day MA of 1.86, indicating a bearish trend. The MACD of -0.03 indicates Negative momentum. The RSI at 35.26 is Neutral, neither overbought nor oversold. The STOCH value of 26.67 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 | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
59 Neutral | HK$126.63B | 7.38 | 8.68% | 2.89% | -7.17% | 82.46% | |
57 Neutral | HK$71.64B | 10.15 | 5.58% | 2.66% | 14.46% | 25.89% | |
57 Neutral | HK$17.90B | 20.29 | 3.19% | 1.25% | 1.73% | 85.37% | |
55 Neutral | HK$57.44B | 10.76 | 4.07% | 1.18% | 51.17% | 27.91% | |
53 Neutral | HK$23.40B | 18.06 | 8.60% | 2.75% | 40.32% | 287.91% | |
51 Neutral | HK$3.65B | 12.05 | 3.77% | ― | 24.14% | 83.51% |
* Financial Sector Average
HK:1476
Hengtai Securities Co., Ltd. Class H
1.40
-0.10
-6.67%
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2.45
1.48
151.80%
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Everbright Securities Company Limited Class H
7.87
1.28
19.35%
HK:6806
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2.82
0.82
41.14%
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Central China Securities Co., Ltd. Class H
1.89
0.47
33.10%
HK:1456
Guolian Securities Co., Ltd. Class H
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31.52%
Hengtai Securities Co., Ltd. Class H Corporate Events
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...
Financial Street Securities Discloses Director’s Proposed CSRC Penalty, Sees No Impact on Operations
Feb 16, 2026
Financial Street Securities has disclosed that its non-executive director, Wang Linjing, faces a proposed administrative penalty from the Hubei Bureau of the China Securities Regulatory Commission in connection with his former role as director and...
Financial Street Securities Forecasts Near-Doubling of 2025 Profit on Strong Brokerage and Investment Gains
Jan 29, 2026
Financial Street Securities Co., Limited has alerted investors that, based on preliminary unaudited figures, it expects profit attributable to shareholders for the year ended 31 December 2025 to rise to about RMB326.95 million, up sharply from app...
Financial Street Securities Updates Website and Investor Contact Details Ahead of 2026
Dec 31, 2025
Financial Street Securities Co., Limited has announced a change to its corporate website and investor relations email, aligning its digital presence under the new domain jrjzq.com.cn from January 2026. From 1 January 2026, the company’s offi...
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.