First Service Holding Limited (HK:2107)
:2107
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First Service Holding Limited
(2107)
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Rating:55Neutral
Price Target:
HK$0.25
▲(11.82% Upside)
Action:Reiterated
Date:06/12/26
The score is driven primarily by mixed financial performance: an exceptionally low-debt balance sheet offsets a sharp deterioration in profitability and weakening/volatile cash generation. Technicals are supportive with price trading above major moving averages and a positive MACD, but overbought momentum signals temper the outlook. Valuation is also mixed, with a very high dividend yield balanced by a loss-driven negative P/E.
Positive Factors
Balance sheet strength
Extremely low leverage and sizable equity provide a lasting financial cushion. This structural strength supports capital allocation flexibility, preserves liquidity during earnings weakness, and lowers refinancing risk, enabling the company to fund operations, dividends or selective investments over coming months.
Negative Factors
Earnings deterioration to losses
The company’s shift from multi-year profitability to consecutive net losses represents a structural earnings problem. Persistent negative margins reduce retained earnings, impair reinvestment capacity, and threaten dividend sustainability, necessitating operational fixes to restore long-term shareholder value.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet strength
Extremely low leverage and sizable equity provide a lasting financial cushion. This structural strength supports capital allocation flexibility, preserves liquidity during earnings weakness, and lowers refinancing risk, enabling the company to fund operations, dividends or selective investments over coming months.
Read all positive factors
First Service Holding Limited (2107) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$293.73M
Dividend Yield15.45%
Average Volume (3M)280.75K
Price to Earnings (P/E)―
Beta (1Y)0.53
Revenue Growth1.07%
EPS Growth-1080.00%
CountryHK
Employees3,827
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)-0.06
Shares Outstanding1,264,000,000
10 Day Avg. Volume155,500
30 Day Avg. Volume280,750
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.31
Price to Sales (P/S)0.13
P/FCF Ratio20.12
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
First Service Holding Limited Business Overview & Revenue Model
Company Description
First Service Holding Limited specializes in delivering comprehensive property management and environmentally sustainable living solutions, with operations extending across the People's Republic of China and into international territories. The com...
How the Company Makes Money
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First Service Holding Limited Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
78
Positive
Cash Flow
46
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.34B | 1.33B | 1.21B | 1.12B | 1.12B |
| Gross Profit | 289.25M | 309.68M | 304.66M | 260.89M | 335.36M |
| EBITDA | 58.47M | -23.41M | 98.21M | 72.41M | 47.44M |
| Net Income | -52.41M | -12.07M | 57.13M | 41.34M | 35.47M |
Balance Sheet | |||||
| Total Assets | 1.58B | 1.68B | 1.47B | 1.37B | 1.36B |
| Cash, Cash Equivalents and Short-Term Investments | 724.70M | 738.08M | 565.90M | 538.50M | 628.31M |
| Total Debt | 2.83M | 2.65M | 0.00 | 0.00 | 20.51M |
| Total Liabilities | 979.77M | 1.01B | 758.07M | 694.90M | 684.35M |
| Stockholders Equity | 537.62M | 619.21M | 657.49M | 629.28M | 637.48M |
Cash Flow | |||||
| Free Cash Flow | 8.38M | 10.28M | 82.97M | -21.47M | -7.33M |
| Operating Cash Flow | 13.54M | 25.50M | 93.39M | -12.41M | 1.24M |
| Investing Cash Flow | 26.85M | -77.65M | 50.09M | -17.55M | -192.10M |
| Financing Cash Flow | -35.12M | -21.61M | -35.27M | -84.77M | -39.65M |
First Service Holding Limited Technical Analysis
Positive
0.22
Price Trends
0.18
Positive
0.20
Positive
0.22
Positive
Market Momentum
0.02
Negative
78.13
Negative
61.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2107, the sentiment is Positive. The current price of 0.22 is above the 20-day moving average (MA) of 0.21, above the 50-day MA of 0.18, and below the 200-day MA of 0.22, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 78.13 is Negative, neither overbought nor oversold. The STOCH value of 61.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:2107.
First Service Holding Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | HK$177.91M | 1.58 | 15.16% | 11.22% | 4.17% | 10.89% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
57 Neutral | HK$172.80M | 8.47 | 4.23% | ― | -6.51% | 512.50% | |
55 Neutral | HK$293.73M | -3.49 | -9.16% | 15.45% | 1.07% | -1080.00% | |
49 Neutral | HK$211.75M | 1.35 | 3147.50% | ― | -4.36% | 1481.82% | |
46 Neutral | HK$141.10M | -3.23 | 0.24% | ― | -7.38% | -374.13% | |
39 Underperform | HK$165.22M | -0.60 | 4.36% | ― | -5.08% | -682.55% |
* Real Estate Sector Average
HK:2107
First Service Holding Limited
0.26
-0.04
-14.14%
HK:9608
Sundy Service Group Co. Ltd
0.05
-0.06
-55.45%
HK:1153
Jiayuan Services Holdings Limited
0.33
-0.13
-28.26%
HK:1895
Xinyuan Property Management Service (Cayman) Ltd.
0.30
-0.15
-33.33%
HK:1971
Redsun Services Group Ltd
0.34
-0.08
-19.05%
HK:2215
Dexin Services Group Ltd.
0.18
-0.60
-77.27%
First Service Holding Limited Corporate Events
First Service Holding Sets 2026 AGM to Renew Mandates and Board
Apr 24, 2026
First Service Holding Limited has called its annual general meeting for 23 June 2026 in Beijing, where shareholders will review and adopt the audited consolidated financial statements and the reports of the directors and auditor for the year ended...
First Service Holding Posts Wider 2025 Loss on Higher Impairments Despite Flat Revenue
Mar 27, 2026
First Service Holding Limited reported revenue of RMB1.34 billion for 2025, a modest 1.1% increase from 2024, driven by its mix of property management, value-added services and green living solutions. However, gross profit declined 6.6% to RMB289....
First Service Holding Moves to Update Governance Rules for Hybrid Meetings and E-Voting
Mar 27, 2026
First Service Holding Limited plans to replace its existing memorandum and articles of association with a fourth amended and restated version to align its governance framework with updated Hong Kong listing requirements. The proposed New MA will i...
First Service Holding Warns 2025 Loss to Widen Sharply
Mar 18, 2026
First Service Holding Limited has issued a supplemental announcement clarifying the scale of its expected loss attributable to equity shareholders for 2025, following an earlier profit warning. The group, which is listed in Hong Kong and operates ...
First Service flags sharply wider 2025 loss on goodwill impairment
Mar 17, 2026
First Service Holding Limited has warned that its net loss for the year ended 31 December 2025 will widen sharply to no more than RMB40 million, compared with a net loss of about RMB6.3 million in 2024. The deterioration is primarily tied to an im...
First Service Holding Sets March Board Meeting on 2025 Results and Dividend Plan
Mar 17, 2026
First Service Holding Limited has scheduled a board meeting for March 27, 2026 to review and approve the audited annual results of the company and its subsidiaries for the financial year ended December 31, 2025. The board will also consider whethe...
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.