Kaisa Prosperity Holdings Ltd. (2168) AI Stock Analysis

• Market Cap: HK$167.98M
• Dividend Yield: N/A
• Average Volume (3M): 78.83K
• Price to Earnings (P/E): 8.8
• Beta (1Y): 1.30
• Revenue Growth: -8.64%
• EPS Growth: N/A
• Country: HK
• Employees: 12,013
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Services
• EPS (TTM): 0.33
• Shares Outstanding: 154,110,000
• 10 Day Avg. Volume: 17,950
• 30 Day Avg. Volume: 78,833
• PEG Ratio: -0.15
• Price to Book (P/B): 0.25
• Price to Sales (P/S): 0.13
• P/FCF Ratio: -9.95
• 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: 50 Neutral
• Price Target: HK$1.00 ▼(-18.70% Downside)

The score is held back primarily by weak technicals (price below all key moving averages with negative MACD) and soft financial quality (declining revenue and zero operating cash flow in 2024). These are partially offset by improved recent profitability and a strong, low-leverage balance sheet, with some valuation support from a low P/E.

Positive Factors

Recurring fee-based business model

A core of recurring management fees plus value-added services creates predictable revenue and strong customer stickiness. This stabilizes cash flow streams over the medium term, supports margin recovery efforts, and enables cross-sell of ancillaries that compound earnings durability.

Improved profitability in 2024

Turning EBIT/EBITDA and a materially better net margin indicate structural improvement in operating efficiency or pricing. If sustained, higher margins raise cash generation potential, fund reinvestment in service quality, and reduce dependency on balance sheet fixes to drive shareholder returns.

Low leverage and strong equity base

Low leverage provides financial flexibility to invest in service expansion, pursue accretive M&A, or absorb market shocks without distress. A strong equity ratio reduces refinancing risk in cyclical real-estate services and supports multi-year strategic initiatives with limited interest burden.

Negative Factors

Declining revenue trend

Sustained top-line contraction undermines scale advantages and operating leverage for a property-management business. Persistent revenue decline can compress margins, limit reinvestment in service capabilities, and weaken competitive position in a market where scale drives contract wins.

Weak cash generation

Zero operating cash flow signals weak conversion of earnings into spendable cash, constraining capex, working capital, and dividends. Over months, poor cash conversion increases funding risk for growth initiatives and reduces resilience to contract headwinds or slow collections.

Declining total assets / asset shrinkage

A shrinking asset base can reflect loss of managed properties or deliberate divestments that reduce revenue capacity and scale. Over time, reduced assets limit geographic coverage and service breadth, making it harder to sustain growth and maintain bargaining power with large developers.

Kaisa Prosperity Holdings Ltd. Business Overview & Revenue Model

Company Description

Kaisa Prosperity Holdings Limited, an investment holding company, provides property management services in China. Its property management services include management of properties, maintenance and repair of buildings and ancillary facilities, community security management, car-park management, equipment installation, and property consulting services. The company also provides pre-delivery services, such as construction sites management, which includes security, cleaning, and maintenance services; and display units and property sales venues management. In addition, it offers community value-added services consisting of spatial resources leasing, housing rental and sales, decoration and renovation, and other related services through offline and online channels; and smart solution services for various business fields, such as smart medical care, smart education, smart transportation, smart industry, and integrated resource. Further, the company provides equipment installation services. It offers its services to residential and non-residential properties, including commercial properties, office buildings, arenas and stadiums, government buildings, public facilities, and industrial parks. The company was formerly known as Kaisa Property Holdings Limited and changed its name to Kaisa Prosperity Holdings Limited in July 2019. The company was founded in 1999 and is headquartered in Shenzhen, the People's Republic of China. Kaisa Prosperity Holdings Limited is a subsidiary of Ye Chang Investment Company Limited.

How the Company Makes Money

Kaisa Prosperity Holdings generates revenue primarily through the sale and leasing of residential and commercial properties. The company realizes income from property development by selling units in completed projects to end-users and investors. Additionally, it earns rental income from its investment properties. Key revenue streams include the sale of completed residential units, ongoing rental income from commercial properties, and management fees from property management services. The company may also benefit from strategic partnerships with local governments and other real estate firms, which can help facilitate land acquisitions and development projects, further enhancing its revenue potential.

Kaisa Prosperity Holdings Ltd. Financial Statement Overview

Summary

Mixed fundamentals: profitability and margins improved in 2024 (EBIT/EBITDA turning positive and better net margin), and leverage remains low with a strong equity base, but revenue has been declining and cash flow quality is weak with operating cash flow at zero in 2024 and limited free cash flow progress.

Income Statement

The company's revenue has been declining over recent years, with a notable drop from 2021 to 2022. The gross profit margin has also decreased, indicating reduced profitability. However, the net profit margin improved significantly in 2024 compared to 2023, suggesting a recovery in profitability. EBIT and EBITDA margins were negative in 2023 but have turned positive in 2024, reflecting better operational efficiency.

Balance Sheet

The balance sheet shows a stable equity position with a debt-to-equity ratio remaining low, indicating low leverage and financial risk. The equity ratio is strong, underscoring a solid capital structure. However, the declining total assets over the years may indicate asset shrinkage or asset divestiture.

Cash Flow

The company experienced volatile cash flows with operating cash flow turning zero in 2024 after being positive in 2023. There is a lack of free cash flow growth, which is concerning. The absence of significant capital expenditures suggests limited reinvestment in the business.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.66B	1.74B	1.79B	1.78B	2.67B	1.73B
Gross Profit	392.95M	444.49M	481.35M	471.11M	788.90M	527.64M
EBITDA	145.35M	166.68M	-551.35M	145.80M	410.72M	348.39M
Net Income	18.05M	14.58M	-449.98M	93.39M	56.81M	221.95M
Balance Sheet
Total Assets	1.88B	1.83B	1.83B	2.25B	2.22B	1.98B
Cash, Cash Equivalents and Short-Term Investments	188.20M	243.30M	286.77M	247.32M	358.00M	1.24B
Total Debt	3.43M	4.23M	12.06M	15.41M	25.46M	7.71M
Total Liabilities	876.58M	876.86M	889.22M	851.90M	933.35M	692.06M
Stockholders Equity	919.80M	874.04M	868.92M	1.33B	1.23B	1.25B
Cash Flow
Free Cash Flow	16.88M	-21.98M	62.85M	-77.90M	-290.73M	174.17M
Operating Cash Flow	19.35M	-15.63M	66.03M	-71.02M	-282.82M	181.82M
Investing Cash Flow	-4.18M	-12.70M	-11.22M	-32.71M	-289.25M	-240.19M
Financing Cash Flow	-10.63M	-15.25M	-15.36M	-6.95M	-88.74M	332.49M

Kaisa Prosperity Holdings Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.23
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2168, the sentiment is Negative. The current price of 1.23 is above the 20-day moving average (MA) of 1.22, below the 50-day MA of 1.34, and below the 200-day MA of 1.57, indicating a bearish trend. The MACD of -0.07 indicates Positive momentum. The RSI at 32.10 is Neutral, neither overbought nor oversold. The STOCH value of 18.06 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2168.

Kaisa Prosperity Holdings Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
1538	74 Outperform	HK$423.00M	4.31	8.72%	6.25%	2.42%	10.16%
1895	73 Outperform	HK$272.80M	2.60	15.85%	11.22%	11.13%	142.00%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
2376	56 Neutral	HK$430.69M	10.10	7.09%	3.90%	-3.62%	26.66%
2168	50 Neutral	HK$167.98M	8.80	1.92%	―	-8.64%	―
1153	50 Neutral	HK$241.63M	2.66	―	―	-2.44%	―

Kaisa Prosperity Holdings Ltd. Corporate Events

Kaisa Prosperity Announces Name Change of Hong Kong Auditor

Kaisa Prosperity Holdings Limited has announced that its Hong Kong auditor has changed its English name from SFAI (HK) CPA Limited to ZSZH (HK) Fuson CPA Limited, along with a corresponding change in its Chinese name, effective 9 January 2026. The move represents an administrative rebranding of the auditing firm rather than a change of auditor, signalling continuity in the company’s audit arrangements and suggesting limited direct operational or strategic impact for shareholders and other stakeholders.

The most recent analyst rating on (HK:2168) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on Kaisa Prosperity Holdings Ltd. stock, see the HK:2168 Stock Forecast page.