E-House (China) Enterprise Holdings Limited (2048) AI Stock Analysis

• Market Cap: HK$120.69M
• Dividend Yield: N/A
• Average Volume (3M): 750.15K
• Price to Earnings (P/E): ―
• Beta (1Y): 3.64
• Revenue Growth: -7.52%
• EPS Growth: -5.99%
• Country: HK
• Employees: 1,770
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Services
• EPS (TTM): -0.18
• Shares Outstanding: 1,749,059,600
• 10 Day Avg. Volume: 1,576,320
• 30 Day Avg. Volume: 750,150
• PEG Ratio: -0.06
• Price to Book (P/B): -0.03
• Price to Sales (P/S): 0.06
• P/FCF Ratio: -0.97
• 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: 38 Underperform
• Price Target: HK$0.00 ▼(-100.00% Downside)

The overall stock score is heavily influenced by the company's poor financial performance, characterized by declining revenues, persistent losses, and negative equity. Technical analysis indicates bearish momentum, with the stock trading below key moving averages and showing oversold conditions. The valuation is unattractive due to a negative P/E ratio and no dividend yield.

Positive Factors

Business Model Diversification

E-House's diversified revenue streams, including brokerage, consulting, and technology solutions, provide resilience against sector volatility.

Technology Integration

The integration of technology into property transactions positions E-House to capitalize on digital transformation trends in real estate.

Strategic Partnerships

Strategic partnerships with developers and financial institutions enhance E-House's market reach and access to exclusive listings.

Negative Factors

Declining Revenue

Persistent revenue decline indicates weakening market position and challenges in maintaining competitive advantage.

Negative Cash Flow

Negative cash flow highlights operational inefficiencies and limits the company's ability to invest in growth opportunities.

High Debt Levels

High debt levels increase financial risk and may constrain E-House's financial flexibility and ability to weather downturns.

E-House (China) Enterprise Holdings Limited Business Overview & Revenue Model

Company Description

E-House (China) Enterprise Holdings Limited is a leading real estate services company based in China. It operates primarily in the real estate sector, offering a range of services including property brokerage, real estate consulting, and online property transaction services. E-House also provides technology solutions that facilitate property transactions and management, leveraging its expertise to serve both residential and commercial real estate markets.

How the Company Makes Money

E-House generates revenue through multiple streams, primarily from real estate brokerage services, which includes commissions from property sales and rentals. The company also earns income from its consulting services, providing market research and advisory for real estate developers and investors. Additionally, E-House has expanded its revenue model by integrating technology solutions that enhance property transactions, allowing for additional income from software and platform services. Significant partnerships with various real estate developers and financial institutions further contribute to its earnings by providing exclusive listings and access to a broader client base.

E-House (China) Enterprise Holdings Limited Financial Statement Overview

Summary

E-House (China) Enterprise Holdings Limited is facing severe financial challenges, marked by declining revenues, persistent losses, and negative equity. The reliance on debt amidst declining asset values increases financial risk. Cash flow issues further exacerbate the situation, indicating the need for immediate strategic interventions to stabilize the business.

Income Statement

The company has experienced a consistent decline in revenue over the past few years, with a significant drop from 2020 to 2024. The gross profit margin remains 100% due to revenue equaling gross profit, but net profit margins have been negative, indicating substantial losses, particularly in recent years. EBIT and EBITDA margins have been negative, reflecting operational inefficiencies and high expenses relative to revenue.

Balance Sheet

The balance sheet shows significant financial distress, with negative stockholders' equity growing worse each year, indicating insolvency. The debt-to-equity ratio is not meaningful due to negative equity, but the high total debt suggests heavy reliance on leverage. The equity ratio is negative, highlighting that liabilities exceed assets, posing a substantial financial risk.

Cash Flow

The cash flow statement is troubling, with negative operating and free cash flows in recent years, indicating cash outflows from operations and insufficient cash generation to cover capital expenditures. The absence of positive cash flow growth and poor cash conversion reflect deeper operational issues.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.47B	3.80B	4.45B	5.03B	8.87B	8.05B
Gross Profit	3.47B	3.80B	4.45B	5.03B	8.87B	8.05B
EBITDA	-128.60M	-335.02M	-814.10M	-2.66B	-6.52B	1.38B
Net Income	-1.07B	-1.27B	-1.24B	-3.90B	-11.64B	304.41M
Balance Sheet
Total Assets	1.66B	2.10B	4.08B	5.85B	12.13B	25.77B
Cash, Cash Equivalents and Short-Term Investments	220.59M	367.66M	689.40M	1.33B	3.53B	8.90B
Total Debt	5.51B	5.64B	6.09B	6.14B	7.16B	8.54B
Total Liabilities	9.96B	10.09B	10.65B	10.88B	12.14B	14.28B
Stockholders Equity	-8.12B	-7.82B	-6.55B	-5.22B	-1.16B	10.26B
Cash Flow
Free Cash Flow	-38.10M	-217.11M	-445.01M	-1.12B	-2.74B	410.99M
Operating Cash Flow	-87.09M	-205.19M	-432.75M	-1.09B	-2.37B	587.84M
Investing Cash Flow	397.09M	379.90M	33.00M	715.51M	299.33M	1.59B
Financing Cash Flow	0.00	-493.87M	-208.99M	-1.75B	-2.06B	3.06B

E-House (China) Enterprise Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.07
• 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:2048, the sentiment is Negative. The current price of 0.07 is below the 20-day moving average (MA) of 0.07, below the 50-day MA of 0.08, and below the 200-day MA of 0.13, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 37.54 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2048.

E-House (China) Enterprise Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
1895	73 Outperform	HK$281.69M	2.69	15.85%	11.58%	11.13%	142.00%
2376	72 Outperform	HK$402.69M	9.45	7.09%	3.92%	-3.62%	26.66%
2146	69 Neutral	HK$132.54M	4.39	5.00%	―	1.30%	-6.96%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
1663	52 Neutral	HK$142.91M	-600.00	-0.02%	―	-68.21%	-100.40%
0183	45 Neutral	HK$99.21M	-1.49	-4.91%	―	30.19%	72.49%
2048	38 Underperform	HK$120.69M	-0.11	―	―	-7.52%	-5.99%

E-House (China) Enterprise Holdings Limited Corporate Events

E-House Extends Restructuring Support Deadline Amid Strong Creditor Backing

E-House (China) Enterprise Holdings Limited announced an extension of the deadline for its Invitation for Irrevocable Restructuring Support. The extension is due to feedback from certain note holders who require more time to complete their internal processes. As of December 5, 2025, approximately 62.35% of the offshore debt holders have agreed to the restructuring terms. This extension aims to facilitate a more efficient execution of the restructuring process, benefiting both the company and its creditors.

E-House Advances Offshore Debt Restructuring with Strong Creditor Support

E-House (China) Enterprise Holdings Limited has announced significant progress in its restructuring plan for offshore debts. The company has entered into a Restructuring Support Agreement with initial consenting creditors and plans to invite remaining noteholders to support the restructuring through new schemes. The restructuring has received strong backing from key stakeholders representing 35.6% of the outstanding offshore debt. The company aims to implement the restructuring through court-sanctioned schemes, which will involve issuing new shares to participating creditors, potentially increasing the company’s share capital.

E-House Establishes Nomination Committee to Strengthen Governance

E-House (China) Enterprise Holdings Limited has established a nomination committee to enhance its governance structure. The committee’s purpose is to identify and recommend candidates for the board of directors, oversee board performance evaluations, and develop nomination guidelines in compliance with applicable laws and regulations. This initiative is expected to strengthen the company’s governance and ensure a diverse and independent board, which could positively impact its operations and industry positioning.

E-House Announces Restructuring Plan for Offshore Debts

E-House (China) Enterprise Holdings Limited has announced an update on its restructuring plan for offshore debts amid challenging conditions in the Chinese real estate market. The company has formed an ad hoc group with initial consenting holders of its old notes to develop a feasible offshore liability management solution. The proposed restructuring plan involves a debt-for-equity swap to fully equitize the offshore debt through schemes of arrangement in Hong Kong and the Cayman Islands. This plan aims to provide meaningful recovery to creditors, although it is still subject to creditors’ support and regulatory approval.

E-House Announces Board and Committee Changes

E-House (China) Enterprise Holdings Limited has announced a change in its board of directors, with Mr. Liang Xingchao resigning as a non-executive director to focus on personal pursuits, and Ms. Xu Wenya being appointed as his replacement, effective October 31, 2025. Additionally, the company has adjusted the composition of its nomination committee, appointing Ms. Zhou Tianfeng and Mr. Li Jin as new members, in line with recent amendments to the Corporate Governance Code.

E-House Announces New Board of Directors

E-House (China) Enterprise Holdings Limited has announced the composition of its board of directors, effective from October 31, 2025. The board includes executive, non-executive, and independent non-executive directors, with Mr. Zhou Xin serving as Chairman and CEO. This announcement provides clarity on the leadership structure and committee memberships, potentially impacting the company’s governance and strategic decision-making processes.

E-House (China) Implements Measures to Address Financial Challenges

E-House (China) Enterprise Holdings Limited has announced measures to address its going concern issue by disposing of 33 assets for RMB11.7 million, repaying bank loans of RMB24.5 million, and reducing staff numbers. The company is committed to improving its financial position through effective cost control and debt restructuring, aiming to ensure liquidity and sustain operations.

E-House (China) Reports Significant Impairment Losses Amid Market Shifts

E-House (China) Enterprise Holdings Limited announced an impairment loss of RMB378.6 million for the year ending December 31, 2024, primarily due to the full impairment of intangible assets related to Tianji Network and Leju. The downturn in the e-commerce market and a shift from online to offline real estate transaction services led to decreased revenues, prompting the company to reassess the value of its intangible assets, resulting in significant financial adjustments.