Haitong Unitrust International Financial Leasing Co., Ltd Class H (1905) AI Stock Analysis

• Market Cap: HK$6.51B
• Dividend Yield: 11.28%
• Average Volume (3M): 3.38M
• Price to Earnings (P/E): 4.3
• Beta (1Y): 0.46
• Revenue Growth: 0.59%
• EPS Growth: -5.95%
• Country: HK
• Employees: 1,512
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Credit Services
• EPS (TTM): 0.10
• Shares Outstanding: 5,794,453,000
• 10 Day Avg. Volume: 2,809,255
• 30 Day Avg. Volume: 3,383,187
• PEG Ratio: 0.73
• Price to Book (P/B): 0.35
• Price to Sales (P/S): 1.19
• P/FCF Ratio: 0.54
• 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: 71 Outperform
• Price Target: HK$0.86 ▲(9.11% Upside)

The score is driven primarily by attractive valuation (low P/E and high dividend yield) and improving financial profile (better leverage and stronger recent cash generation). These positives are partially offset by softer 2024 profitability versus 2023, historical cash-flow volatility, and currently weak-to-neutral technical momentum.

Positive Factors

Improved Leverage

The significant reduction in leverage enhances financial stability and reduces risk, providing more flexibility for future growth and investment.

Strong Revenue Growth

Robust revenue growth indicates strong demand for services and effective business operations, supporting long-term expansion and market position.

Enhanced Governance

Improved governance through enhanced audit committee rules strengthens operational oversight and stakeholder confidence, supporting sustainable growth.

Negative Factors

High Absolute Debt Levels

High debt levels can limit financial flexibility and increase vulnerability to economic downturns, posing a risk to long-term stability.

Margin Decline

Declining margins suggest potential pricing pressures or cost increases, which could impact profitability and competitive positioning over time.

Cash Flow Volatility

Volatile cash flow can challenge financial planning and investment capacity, affecting the company's ability to sustain operations and growth.

Haitong Unitrust International Financial Leasing Co., Ltd Class H Business Overview & Revenue Model

Company Description

Haitong Unitrust International Financial Leasing Co., Ltd., through its subsidiaries, operates as a financial leasing company in the People's Republic of China. It offers operating leasing services, factoring receivables, entrusted loans, and other loans, as well as advisory services; commercial and passenger vehicle leasing services; and aircraft leasing services. The company also engages in financing of aircraft related business; and property, logistics, catering, government outsourcing, and PPP project management businesses. It serves transportation and logistics, manufacturing, infrastructure, urban utilities, energy and environmental protection, culture and tourism, construction, health care, and other industries. The company was formerly known as Haitong UniTrust International Leasing Co., Ltd. and changed its name to Haitong Unitrust International Financial Leasing Co., Ltd. in August 2020. Haitong Unitrust International Financial Leasing Co., Ltd. was incorporated in 2004 and is headquartered in Shanghai, the People's Republic of China. Haitong Unitrust International Financial Leasing Co., Ltd. operates as a subsidiary of Haitong UT Capital Group Co., Limited.

How the Company Makes Money

Haitong Unitrust International Financial Leasing Co., Ltd generates revenue primarily through lease payments received from its clients, which include enterprises across various industries such as healthcare, transportation, and energy. The company offers both direct leasing and sale-leaseback arrangements, where clients either lease new equipment directly from Haitong Unitrust or sell their existing equipment to the company and lease it back. This model provides clients with capital flexibility while ensuring regular income streams for Haitong Unitrust. Additionally, the company may earn fees from advisory services related to financial leasing solutions. Significant partnerships with equipment manufacturers and financial institutions also help bolster its leasing portfolio and expand its market reach. The strategic focus on sectors with stable demand, such as healthcare and infrastructure, contributes to steady financial performance.

Haitong Unitrust International Financial Leasing Co., Ltd Class H Financial Statement Overview

Summary

Profitability remains solid and 2024 revenue rebounded strongly, leverage improved meaningfully in 2024, and operating cash flow was strong with good earnings coverage. Offsetting this, 2024 margins and net income softened versus 2023, debt remains high in absolute terms for a balance-sheet-intensive model, and cash flow has been historically volatile.

Income Statement

Revenue rebounded strongly in 2024 (annual revenue up 57.6% vs. 2023), but the prior two years showed slight contraction, highlighting some volatility. Profitability is healthy with net profit margins generally in the mid-20% to mid-30% range, though 2024 margin (26.0%) fell from 2023 (36.7%) and net income also declined slightly despite higher revenue—suggesting weaker yield/pricing, higher costs, or provisioning pressure. Overall, earnings power looks solid, but the margin step-down and uneven growth temper the score.

Balance Sheet

Leverage remains a key watch item: debt is large relative to equity historically (debt-to-equity ~4.5–4.9x from 2019–2023), improving meaningfully in 2024 to ~1.67x, which is a clear positive shift. Equity has been relatively stable-to-modestly growing over time, and returns on equity are steady around ~7%–9%, indicating consistent profitability on the capital base. Still, absolute debt levels remain high and the business model is balance-sheet intensive, so funding/liquidity risk and credit-cycle sensitivity remain important constraints.

Cash Flow

Cash generation improved materially in the most recent year: operating cash flow turned strongly positive in 2023–2024, with 2024 operating cash flow comfortably exceeding net income (coverage ~6.0x) and free cash flow close to net income (~0.98x), supporting earnings quality. However, cash flow has been highly volatile historically, with sizable negative operating and free cash flow in 2019–2022. Free cash flow also declined in 2024 (down ~23%), so while the recent trend is better, durability through a cycle is not yet proven.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	4.81B	5.79B	4.38B	3.95B	3.32B	2.66B
Gross Profit	4.81B	5.79B	4.65B	5.33B	3.32B	2.66B
EBITDA	0.00	0.00	0.00	2.43B	2.35B	0.00
Net Income	1.48B	1.51B	1.61B	1.53B	1.41B	1.12B
Balance Sheet
Total Assets	111.13B	111.30B	123.35B	124.51B	114.74B	108.14B
Cash, Cash Equivalents and Short-Term Investments	6.58B	6.65B	8.38B	5.42B	6.10B	4.60B
Total Debt	82.93B	82.80B	92.69B	91.37B	82.22B	76.36B
Total Liabilities	90.76B	91.31B	103.11B	105.69B	97.12B	92.29B
Stockholders Equity	20.31B	19.93B	20.20B	18.78B	17.54B	15.80B
Cash Flow
Free Cash Flow	3.20B	12.73B	7.83B	-10.47B	-4.41B	-6.17B
Operating Cash Flow	3.46B	12.99B	7.96B	-8.78B	-3.75B	-3.40B
Investing Cash Flow	33.29M	816.00M	-815.97M	179.83M	-339.32M	-3.01B
Financing Cash Flow	-4.76B	-15.53B	-4.18B	4.80B	5.52B	5.93B

Haitong Unitrust International Financial Leasing Co., Ltd Class H Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.79
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1905, the sentiment is Negative. The current price of 0.79 is above the 20-day moving average (MA) of 0.78, above the 50-day MA of 0.78, and above the 200-day MA of 0.79, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 50.02 is Neutral, neither overbought nor oversold. The STOCH value of 66.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1905.

Haitong Unitrust International Financial Leasing Co., Ltd Class H Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
1606	74 Outperform	HK$20.35B	3.75	13.09%	5.84%	3.17%	23.13%
1905	71 Outperform	HK$6.51B	4.35	7.87%	11.28%	0.59%	-5.95%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
3360	66 Neutral	HK$36.44B	7.76	7.90%	6.69%	-1.77%	-24.74%
1601	64 Neutral	HK$1.37B	3.78	9.89%	7.43%	1.11%	3.98%
1563	59 Neutral	HK$279.00M	20.88	0.49%	―	8.77%	-76.88%
2003	58 Neutral	HK$1.05B	1.70	12.71%	9.77%	16.56%	110.71%

Haitong Unitrust International Financial Leasing Co., Ltd Class H Corporate Events

Haitong Unitrust Strengthens Audit Committee Governance

Haitong Unitrust International Financial Leasing Co., Ltd. has established a set of working rules for its Audit Committee to ensure independent and effective exercise of its powers, in compliance with relevant laws and regulations. These rules are designed to improve corporate governance, enhance internal controls, and ensure accurate financial reporting, which is expected to strengthen the company’s operational oversight and stakeholder confidence.

Haitong Unitrust Releases Q3 2025 Financial Data

Haitong Unitrust International Financial Leasing Co., Ltd. has released its unaudited financial data for the third quarter of 2025, as required by PRC regulations. The financial statements reveal a slight decrease in total assets and liabilities compared to the previous year-end, indicating a stable financial position. The company’s equity has seen a modest increase, suggesting a positive outlook for shareholders. The announcement highlights the company’s compliance with regulatory requirements and provides transparency to investors, although the data has not been audited or reviewed by external auditors.