Zall Smart Commerce Group Ltd. (HK:2098)
:2098
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Zall Smart Commerce Group Ltd.
(2098)
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Rating:45Neutral
Price Target:
HK$0.09
▼(-27.69% Downside)
Action:Reiterated
Date:04/28/26
The score is held down primarily by weak financial quality (thin margins, 2025 revenue decline, meaningful leverage, and volatile/weak recent cash flow). Technicals also reflect a soft trend with muted momentum. Valuation is a partial offset due to a low P/E, but it is not enough to outweigh the financial and trend risks.
Positive Factors
Recurring revenue mix
The business combines one-time property sales with recurring leasing, property management and ecosystem service fees. This mixed revenue model provides a durable baseline of rental and service income that can stabilize cash flow between development cycles and support long-term operations.
Negative Factors
Meaningful leverage
Debt roughly equal to or above equity materially reduces financial flexibility for a property and logistics operator. In downturns this leverage increases interest and refinancing risk, constraining capital allocation and making the company more sensitive to cash-flow volatility.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring revenue mix
The business combines one-time property sales with recurring leasing, property management and ecosystem service fees. This mixed revenue model provides a durable baseline of rental and service income that can stabilize cash flow between development cycles and support long-term operations.
Read all positive factors
Zall Smart Commerce Group Ltd. (2098) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.13B
Dividend YieldN/A
Average Volume (3M)6.32M
Price to Earnings (P/E)7.0
Beta (1Y)0.24
Revenue Growth-4.66%
EPS Growth14.52%
CountryHK
Employees1,575
SectorIndustrials
Sector Strength72
IndustryIndustrial - Distribution
Share Statistics
EPS (TTM)0.01
Shares Outstanding12,399,506,000
10 Day Avg. Volume3,011,700
30 Day Avg. Volume6,319,066
Financial Highlights & Ratios
PEG Ratio0.68
Price to Book (P/B)0.08
Price to Sales (P/S)0.00745
P/FCF Ratio859.33
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
Zall Smart Commerce Group Ltd. Business Overview & Revenue Model
Company Description
Zall Smart Commerce Group Ltd., an investment holding company, engages in the supply chain management and trading activities in the People's Republic of China, Singapore, and internationally. It operates through two segments, Property Development ...
How the Company Makes Money
Zall Smart Commerce Group Ltd. primarily makes money from (1) the development and sale of property units within its trade and logistics hub projects (e.g., selling shop units, commercial spaces, and other saleable property interests tied to its ma...
Zall Smart Commerce Group Ltd. Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
46
Neutral
Cash Flow
29
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 151.03B | 162.36B | 125.29B | 110.91B | 104.55B |
| Gross Profit | 494.77M | 698.97M | 846.64M | 587.42M | 885.75M |
| EBITDA | 940.23M | 669.06M | 717.13M | -2.50B | -797.98M |
| Net Income | 143.63M | 128.95M | 50.91M | -3.04B | -1.33B |
Balance Sheet | |||||
| Total Assets | 61.75B | 69.48B | 63.78B | 60.36B | 59.28B |
| Cash, Cash Equivalents and Short-Term Investments | 8.58B | 1.58B | 1.80B | 1.47B | 1.23B |
| Total Debt | 14.44B | 16.38B | 15.30B | 18.27B | 17.73B |
| Total Liabilities | 47.34B | 55.14B | 49.57B | 46.21B | 42.50B |
| Stockholders Equity | 14.09B | 13.95B | 13.80B | 13.75B | 16.45B |
Cash Flow | |||||
| Free Cash Flow | 1.31M | -350.86M | 1.93B | 805.96M | 647.26M |
| Operating Cash Flow | 86.95M | -269.47M | 2.02B | 858.74M | 721.57M |
| Investing Cash Flow | -24.05M | 142.71M | 866.66M | 709.20M | 2.26B |
| Financing Cash Flow | 17.04M | -128.06M | -2.45B | -1.33B | -3.07B |
Zall Smart Commerce Group Ltd. Technical Analysis
Negative
0.13
Price Trends
0.10
Negative
0.10
Negative
0.13
Negative
Market Momentum
>-0.01
Positive
40.74
Neutral
10.23
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2098, the sentiment is Negative. The current price of 0.13 is above the 20-day moving average (MA) of 0.10, above the 50-day MA of 0.10, and above the 200-day MA of 0.13, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 40.74 is Neutral, neither overbought nor oversold. The STOCH value of 10.23 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2098.
Zall Smart Commerce Group Ltd. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
56 Neutral | HK$5.10B | 20.05 | 5.16% | ― | 50.32% | -1.01% | |
51 Neutral | HK$7.07B | 95.52 | 1.82% | ― | 0.92% | ― | |
48 Neutral | HK$2.06B | -2.45 | -138.20% | ― | -14.72% | 22.55% | |
45 Neutral | HK$1.13B | 7.01 | 1.04% | ― | -4.66% | 14.52% | |
45 Neutral | HK$2.67B | -26.73 | -29.14% | ― | 0.96% | 22.99% | |
43 Neutral | HK$2.34B | -3.75 | -18.49% | ― | 23.91% | 55.97% |
* Industrials Sector Average
HK:2098
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Zall Smart Commerce Group Ltd. Corporate Events
Zall Smart Commerce Sets 2026 AGM to Approve Results, Board Mandates and Share Issuance Limit
Apr 23, 2026
Zall Smart Commerce Group Ltd. has called its annual general meeting for 28 May 2026 in Wuhan, where shareholders will review and adopt the audited consolidated financial statements and directors’ and auditor’s reports for the year end...
Zall Smart Commerce Lifts 2025 Profit on Property Revaluations Despite Revenue Dip
Mar 31, 2026
Zall Smart Commerce Group reported 2025 revenue of RMB155.0 billion, down slightly from a year earlier, while gross profit also declined as margins remained thin. Despite softer top-line performance and higher administrative and impairment charges...
Zall Smart Commerce Schedules Board Meeting to Approve 2025 Results and Consider Dividend
Mar 13, 2026
Zall Smart Commerce Group has scheduled a board meeting for 31 March 2026 to review and approve the audited final results for the financial year ended 31 December 2025 and to authorize their publication. The board will also consider the declaratio...
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.
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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.