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Tian Tu Capital Co., Ltd. Class H (HK:1973)
:1973
Hong Kong Market

Tian Tu Capital Co., Ltd. Class H (1973) AI Stock Analysis

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HK:1973

Tian Tu Capital Co., Ltd. Class H

(1973)

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Neutral 43 (OpenAI - 5.2)
Rating:43Neutral
Price Target:
HK$2.50
▼(-29.58% Downside)
Action:DowngradedDate:01/27/26
Overall score is weighed down primarily by weak financial performance (declining/negative revenue and losses, plus volatile cash flow). Technicals also remain bearish with the stock trading below major moving averages and negative MACD, despite oversold readings. Valuation provides limited support because the negative P/E reflects unprofitable operations and no dividend yield is available in the data.
Positive Factors
Diversified fee-based revenue
A multi-source revenue model (management fees, performance fees, direct investments, advisory) supports recurring and performance-linked income. Over months this diversification stabilizes cash inflows, reduces single-stream dependence, and helps sustain operations through uneven markets.
Moderate balance sheet liquidity
Manageable leverage and a reasonable level of cash and short-term investments provide liquidity and reduce near-term refinancing risk. This financial buffer supports continued operations, selective investments, and strategic flexibility across a 2–6 month horizon.
Recovering operating cash flow
Recovery in operating cash flow and recent improvement in free cash flow indicate progress converting activity into cash. Sustained improvement would enhance self-funding capacity, lower reliance on external capital, and enable reinvestment or debt servicing over the medium term.
Negative Factors
Declining and negative revenue trend
A persistent decline to negative revenue undermines the firm's core fee base and long-term growth prospects. Without revenue stabilization, management fees and performance income are at risk, constraining reinvestment, hurting client confidence, and pressuring strategic initiatives.
Sustained negative profitability and margins
Continued negative gross profit and operating margins signal structural profitability issues and weak operational efficiency. Over months this erodes retained capital, deters new investors, and limits ability to scale fee-generating activities or absorb shocks without corrective action.
Volatile cash flows and weak cash conversion
Volatile operating cash flows and weak conversion of accounting profits into cash reduce financial predictability and increase funding risk. This pattern impairs sustained investment, heightens dependence on external financing, and limits ability to support portfolio companies reliably.

Tian Tu Capital Co., Ltd. Class H (1973) vs. iShares MSCI Hong Kong ETF (EWH)

Tian Tu Capital Co., Ltd. Class H Business Overview & Revenue Model

Company DescriptionTian Tu Capital Co., Ltd. is a private equity and venture capital firm specializing in investments in small and medium sized companies in early-stage, mature, and Pre-IPO stages. It primarily invests in the field of consumer products sector covering consumer upgrade, innovative consumption, recreational, cultural and sports consumption, new retail, consumer finance and consumer technology. The firm primarily invests in China. It invests a minimum of RMB 50 million ($8.1 million) per portfolio company. The firm prefers to be a lead investor. Tian Tu Capital Co., Ltd. was founded in 2002 and is based in Shenzhen, China with additional offices in Beijing, China; Shanghai, China; and Hong Kong. It operates as a subsidiary of Shenzhen Tiantu Investment Management Co., Ltd.
How the Company Makes MoneyTian Tu Capital generates revenue through multiple streams, primarily from management fees charged on the assets under management (AUM) in its investment funds. Additionally, the company earns performance fees based on the returns generated for its investors. The firm also engages in direct investments, acquiring stakes in promising companies across its focus sectors, which can yield significant capital gains. Strategic partnerships with other financial institutions and venture firms enhance its investment capabilities, while advisory services provided to external clients contribute further to its income. Overall, the combination of management fees, performance incentives, direct investment gains, and advisory services forms the core of Tian Tu Capital's revenue model.

Tian Tu Capital Co., Ltd. Class H Financial Statement Overview

Summary
Weak fundamentals: income statement performance is poor with declining/negative revenue and negative profitability (Income Statement score 30). Cash flows are volatile despite some recent recovery (Cash Flow score 40). The balance sheet is comparatively steadier with manageable leverage and some liquidity, but declining equity ratio and negative ROE are meaningful risks (Balance Sheet score 55).
Income Statement
30
Negative
The company's income statement reveals significant challenges, with a negative revenue trend over recent years, culminating in negative revenue for 2023 and 2024. Gross profit and net income have also been negative, indicating operational difficulties. The EBIT and EBITDA margins are negative, reflecting poor operational efficiency and profitability. The revenue growth rate is negative, highlighting a declining business trajectory.
Balance Sheet
55
Neutral
The balance sheet shows a moderate position with a debt-to-equity ratio that suggests manageable leverage. However, the equity ratio has been declining, indicating potential risk in asset financing. The return on equity has been negative in recent years, reflecting poor shareholder returns. Despite these challenges, the company maintains a reasonable level of cash and short-term investments.
Cash Flow
40
Negative
Cash flow analysis indicates volatility, with operating cash flow recovering in 2024 but previously negative. Free cash flow has improved recently but remains inconsistent. The operating cash flow to net income ratio shows some improvement, but the free cash flow to net income ratio remains weak, indicating challenges in converting profits into cash.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue198.78M-662.24M-769.09M1.17B2.03B1.13B
Gross Profit135.95M-725.07M-17.93M136.64M426.59M1.08B
EBITDA68.11M-802.56M-876.93M303.65M907.58M1.24B
Net Income-74.97M-891.49M-872.96M559.28M719.82M1.06B
Balance Sheet
Total Assets13.54B14.19B16.72B17.55B17.34B15.76B
Cash, Cash Equivalents and Short-Term Investments1.47B1.54B1.73B1.14B2.80B2.20B
Total Debt837.33M1.02B1.10B1.11B2.11B2.14B
Total Liabilities7.02B7.73B9.40B10.23B10.73B9.70B
Stockholders Equity6.50B6.44B7.30B7.30B6.53B5.76B
Cash Flow
Free Cash Flow632.85M513.74M-259.06M-225.68M-917.35M727.98M
Operating Cash Flow633.40M514.58M-256.73M-214.72M-791.00M931.67M
Investing Cash Flow86.47M-110.29M-134.52M203.46M-311.00M-135.24M
Financing Cash Flow-523.34M-319.18M913.68M-395.27M1.31B-764.69M

Tian Tu Capital Co., Ltd. Class H Technical Analysis

Technical Analysis Sentiment
Negative
Last Price3.55
Price Trends
50DMA
3.00
Negative
100DMA
2.98
Negative
200DMA
3.13
Negative
Market Momentum
MACD
-0.04
Negative
RSI
46.46
Neutral
STOCH
81.61
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1973, the sentiment is Negative. The current price of 3.55 is above the 20-day moving average (MA) of 2.74, above the 50-day MA of 3.00, and above the 200-day MA of 3.13, indicating a neutral trend. The MACD of -0.04 indicates Negative momentum. The RSI at 46.46 is Neutral, neither overbought nor oversold. The STOCH value of 81.61 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1973.

Tian Tu Capital Co., Ltd. Class H Peers Comparison

Overall Rating
UnderperformOutperform
Sector (68)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
68
Neutral
$18.00B11.429.92%3.81%9.73%1.22%
48
Neutral
HK$193.21M25.94-2.82%78.92%75.20%
47
Neutral
HK$325.95M0.5865.83%35.11%
43
Neutral
HK$498.98M14.93-1.16%
42
Neutral
HK$523.08M-12.45-20.26%-166.78%85.53%
41
Neutral
HK$223.30M-14.139.10%66.31%
* Financial Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
HK:1973
Tian Tu Capital Co., Ltd. Class H
2.88
-0.40
-12.20%
HK:1226
China Investment and Finance Group Ltd
0.79
0.25
46.30%
HK:1835
Shanghai Realway Capital Assets Management Co., Ltd. Class H
1.26
-0.51
-28.81%
HK:0033
International Genius Company
0.40
-2.75
-87.30%
HK:0612
China Investment Fund Company Limited
0.34
0.16
88.20%
HK:0721
China Financial International Investments Limited
0.05
0.03
100.00%

Tian Tu Capital Co., Ltd. Class H Corporate Events

Tian Tu Capital Calls 2026 EGM to Vote on Disposal of Yoplait Dairy Stake
Jan 14, 2026

Tian Tu Capital Co., Ltd., a PRC-based investment firm listed on the Hong Kong Stock Exchange, focuses on capital management and portfolio investments, with governance structured through a mix of executive, non-executive and independent directors representing its shareholder base. The company has called its first extraordinary general meeting of 2026 for 2 February in Shenzhen, where shareholders will vote on an ordinary resolution to approve the group’s proposed disposal of Yoplait Dairy Co., Ltd., a move that could reshape its investment portfolio and capital allocation strategy; the notice also sets out procedures for proxy voting, share registration, and eligibility to attend, underscoring the importance of shareholder participation in this strategic transaction.

The most recent analyst rating on (HK:1973) stock is a Sell with a HK$2.50 price target. To see the full list of analyst forecasts on Tian Tu Capital Co., Ltd. Class H stock, see the HK:1973 Stock Forecast page.

Tian Tu Capital Wins Strong Shareholder Backing for Governance Overhaul at 2025 EGM
Dec 31, 2025

Tian Tu Capital Co., Ltd. reported that shareholders at its third extraordinary general meeting of 2025 overwhelmingly approved a package of corporate governance changes, including amendments to the Articles of Association and the abolition of the Supervisory Committee. Investors also passed a series of ordinary resolutions revising the rules of procedure for general meetings and the board, and updating the company’s policies on foreign guarantees and related-party and connected transactions, all with high to unanimous support. The voting results, with no shareholders required to abstain apart from the trustee holding unvested incentive shares, signal strong shareholder backing for a governance overhaul that may streamline oversight structures and refine risk and transaction management frameworks, potentially aligning the company more closely with Hong Kong listing requirements and investor expectations.

The most recent analyst rating on (HK:1973) stock is a Hold with a HK$2.50 price target. To see the full list of analyst forecasts on Tian Tu Capital Co., Ltd. Class H stock, see the HK:1973 Stock Forecast page.

Tian Tu Capital Delays Circular on Disposal of Yoplait China Stake
Dec 31, 2025

Tian Tu Capital Co., Ltd., an investment-focused company listed on the Hong Kong Stock Exchange, has disclosed a delay in sending a shareholder circular relating to a major transaction involving the disposal of its minority interest in Yoplait China. The circular, which will detail the share purchase agreement and convene an extraordinary general meeting, was originally scheduled for despatch on or before December 31, 2025, but will now be sent no later than January 16, 2026, as the company requires additional time to prepare and finalise the necessary information, potentially pushing back the shareholder approval timeline for the divestment.

The most recent analyst rating on (HK:1973) stock is a Hold with a HK$2.50 price target. To see the full list of analyst forecasts on Tian Tu Capital Co., Ltd. Class H stock, see the HK:1973 Stock Forecast page.

Tian Tu Capital Details Reallocation and Timeline for IPO Proceeds
Dec 23, 2025

Tian Tu Capital has issued a supplemental announcement to its 2024 annual report detailing the allocation and use of approximately RMB950.7 million in net proceeds from its global offering, of which RMB341 million remained unutilized as of December 31, 2024. The company has reallocated a portion of these funds, with a strong emphasis on supporting the growth of its private equity fund management business by deploying its own capital into new funds, investing in external professional support, and optimizing debt repayment and capital structure, and now plans to fully utilize the remaining proceeds by the end of 2025, reflecting a strategy to better align capital deployment with evolving market conditions and revenue growth opportunities.

The most recent analyst rating on (HK:1973) stock is a Hold with a HK$2.50 price target. To see the full list of analyst forecasts on Tian Tu Capital Co., Ltd. Class H stock, see the HK:1973 Stock Forecast page.

Tian Tu Capital Announces Supplemental Notice for 2025 EGM
Dec 14, 2025

Tian Tu Capital Co., Ltd. has announced a supplemental notice for its 2025 third extraordinary general meeting (EGM) to be held on December 31, 2025. The meeting will address additional resolutions concerning amendments to the company’s administration measures for foreign guarantees, connected transactions, and related-party transactions. This announcement signifies the company’s ongoing efforts to refine its governance and operational frameworks, potentially impacting its strategic positioning and stakeholder relations.

The most recent analyst rating on (HK:1973) stock is a Hold with a HK$2.50 price target. To see the full list of analyst forecasts on Tian Tu Capital Co., Ltd. Class H stock, see the HK:1973 Stock Forecast page.

Tian Tu Capital Enhances Governance with New Remuneration Committee
Dec 10, 2025

Tian Tu Capital Co., Ltd. has established a Remuneration Committee as part of its efforts to enhance its corporate governance structure. This committee is tasked with formulating appraisal standards and remuneration plans for directors and senior management, ensuring a transparent and effective remuneration management system. The committee will consist of over three directors, with a majority being independent non-executive directors, and will report to the Board regularly. This move is expected to strengthen Tian Tu Capital’s governance framework and align its management incentives with corporate objectives.

The most recent analyst rating on (HK:1973) stock is a Hold with a HK$2.50 price target. To see the full list of analyst forecasts on Tian Tu Capital Co., Ltd. Class H stock, see the HK:1973 Stock Forecast page.

Tian Tu Capital Announces 2025 Extraordinary General Meeting
Dec 10, 2025

Tian Tu Capital Co., Ltd. has announced its 2025 third extraordinary general meeting to be held on December 31, 2025, in Shenzhen, China. The meeting will address several key resolutions, including proposed amendments to the Articles of Association, the abolishment of the Supervisory Committee, and changes to the Rules of Procedure for Shareholders’ General Meetings and the Board of Directors. These changes could potentially impact the company’s governance structure and operational procedures, reflecting a strategic shift in its corporate management approach.

The most recent analyst rating on (HK:1973) stock is a Hold with a HK$2.50 price target. To see the full list of analyst forecasts on Tian Tu Capital Co., Ltd. Class H stock, see the HK:1973 Stock Forecast page.

Tian Tu Capital Announces Governance Reforms and Structural Changes
Dec 10, 2025

Tian Tu Capital Co., Ltd., a joint stock company incorporated in the People’s Republic of China, has announced proposed amendments to its Articles of Association, the Rules of Procedure for Shareholders’ General Meetings, and the Rules of Procedure for the Board of Directors. These changes aim to reform the organizational structure, enhance the protection of small and medium shareholders, and abolish the Supervisory Committee, transferring its functions to the audit committee of the Board. This strategic move aligns with the revised Company Law of the PRC and is intended to streamline governance and improve shareholder rights.

The most recent analyst rating on (HK:1973) stock is a Hold with a HK$2.50 price target. To see the full list of analyst forecasts on Tian Tu Capital Co., Ltd. Class H stock, see the HK:1973 Stock Forecast page.

Tian Tu Capital Delays Circular on Yoplait China Stake Disposal
Dec 10, 2025

Tian Tu Capital Co., Ltd. has announced a delay in the dispatch of a circular related to the disposal of its minority interest in Yoplait China. The circular, which was initially expected by December 10, 2025, will now be published by December 31, 2025, due to additional time needed to finalize the information. This delay may impact the timeline of the transaction and stakeholders involved in the process.

The most recent analyst rating on (HK:1973) stock is a Hold with a HK$2.50 price target. To see the full list of analyst forecasts on Tian Tu Capital Co., Ltd. Class H stock, see the HK:1973 Stock Forecast page.

Tian Tu Capital Enhances Governance with New Remuneration Committee
Dec 10, 2025

Tian Tu Capital Co., Ltd. has established a Remuneration Committee as part of its efforts to enhance its corporate governance structure. This committee is responsible for formulating and reviewing the remuneration policies for directors and senior management, ensuring transparent procedures and alignment with corporate objectives. The move is aimed at improving the company’s appraisal management system and strengthening its governance framework.

The most recent analyst rating on (HK:1973) stock is a Hold with a HK$2.50 price target. To see the full list of analyst forecasts on Tian Tu Capital Co., Ltd. Class H stock, see the HK:1973 Stock Forecast page.

Tian Tu Capital Co., Ltd. Strengthens Governance with New Audit Committee
Dec 10, 2025

Tian Tu Capital Co., Ltd. has established an Audit Committee within its Board of Directors to enhance its internal control systems and corporate governance. This move is aimed at improving the company’s decision-making processes, ensuring the accuracy of financial information, and overseeing risk assessments for major investment projects. The committee will consist of non-executive directors, with a majority being independent, to ensure unbiased oversight and effective communication with external auditors.

The most recent analyst rating on (HK:1973) stock is a Hold with a HK$2.50 price target. To see the full list of analyst forecasts on Tian Tu Capital Co., Ltd. Class H stock, see the HK:1973 Stock Forecast page.

Tian Tu Capital Enhances Governance with New Nomination Committee
Dec 10, 2025

Tian Tu Capital Co., Ltd. has established a Nomination Committee as part of its Board of Directors to enhance its corporate governance structure. This committee is tasked with standardizing the nomination procedures for directors and senior management, optimizing the Board’s composition, and improving the company’s governance. The committee will consist of at least three directors, with a majority being independent non-executive directors, and will be responsible for recommending candidates for key positions within the company.

The most recent analyst rating on (HK:1973) stock is a Hold with a HK$2.50 price target. To see the full list of analyst forecasts on Tian Tu Capital Co., Ltd. Class H stock, see the HK:1973 Stock Forecast page.

Tian Tu Capital Announces Major Disposal of Yoplait China Stake
Dec 1, 2025

Tian Tu Capital Co., Ltd. has announced a major transaction involving the disposal of its 45.22% minority interest in Yoplait China. The sale, valued at RMB813,913,043, is part of a Share Purchase Agreement with other sellers and a purchaser. This disposal constitutes a major transaction under Hong Kong’s Listing Rules, requiring shareholder approval. Upon completion, Tian Tu Capital will no longer hold any equity interest in Yoplait China, impacting its financial statements by removing this associate interest.

The most recent analyst rating on (HK:1973) stock is a Hold with a HK$2.50 price target. To see the full list of analyst forecasts on Tian Tu Capital Co., Ltd. Class H stock, see the HK:1973 Stock Forecast page.

Tian Tu Capital Secures Approval for RMB300 Million Innovation Notes
Nov 3, 2025

Tian Tu Capital Co., Ltd. announced it has received approval from the National Association of Financial Market Institutional Investors to issue science and technology innovation notes with a total principal amount of up to RMB300 million. This strategic move allows the company to issue these notes in tranches over the next two years, potentially enhancing its financial flexibility and market positioning.

The most recent analyst rating on (HK:1973) stock is a Hold with a HK$3.00 price target. To see the full list of analyst forecasts on Tian Tu Capital Co., Ltd. Class H stock, see the HK:1973 Stock Forecast page.

Tian Tu Capital Issues RMB200 Million Corporate Bonds with Strategic Guarantees
Oct 30, 2025

Tian Tu Capital Co., Ltd. announced the issuance of its 2025 non-publicly issued corporate bonds amounting to RMB200 million, with a coupon rate of 2.58% per annum and a term of three years. The bonds are guaranteed by China Securities Credit Financing Guarantee Co., Ltd., with additional security provided by pledges of certain equity securities of unlisted companies held by the Group. A share charge agreement was entered into by Mr. Wang Yonghua, a connected person of the company, to support the guarantee obligations, constituting a connected transaction under the Listing Rules. This transaction is exempt from certain reporting requirements due to its commercial terms.

The most recent analyst rating on (HK:1973) stock is a Hold with a HK$3.00 price target. To see the full list of analyst forecasts on Tian Tu Capital Co., Ltd. Class H stock, see the HK:1973 Stock Forecast page.

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.Date of analysis: Jan 27, 2026