Rykadan Capital Ltd. (2288) AI Stock Analysis

• Market Cap: HK$48.43M
• Dividend Yield: N/A
• Average Volume (3M): 290.06K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.38
• Revenue Growth: -28.68%
• EPS Growth: -61.82%
• Country: HK
• Employees: 22
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Development
• EPS (TTM): -0.51
• Shares Outstanding: 375,447,000
• 10 Day Avg. Volume: 117,607
• 30 Day Avg. Volume: 290,056
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• 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: Moderate Sell
• Number of Analyst Covering: 1

• Rating: 38 Underperform
• Price Target: HK$0.00 ▼(-100.00% Downside)

Rykadan Capital Ltd. is facing significant financial and operational challenges, with declining revenues and negative profitability. Technical indicators suggest bearish momentum, and the valuation is unattractive due to negative earnings and no dividend yield. These factors contribute to a low overall stock score.

Rykadan Capital Ltd. Business Overview & Revenue Model

Company Description

Rykadan Capital Limited, an investment holding company, engages in the property investment and development business in Hong Kong, the People's Republic of China, the United States, and the United Kingdom. The company operates through Property Development; Property Investment; Asset, Investment and Fund management; and Distribution of Construction and Interior Decorative Materials segments. It invests in residential, commercial, and industrial properties; and leases premises. The company also distributes construction and interior decorative materials, such as quartz and marble-based engineered stone composite surface products. In addition, it provides asset, investment, and fund management services; financing services; and project, property, and corporate management services. The company was formerly known as Sundart International Holdings Limited and changed its name to Rykadan Capital Limited in September 2012. Rykadan Capital Limited was founded in 1986 and is headquartered in Kwun Tong, Hong Kong.

How the Company Makes Money

Rykadan Capital generates revenue primarily through its real estate development and investment activities. The company earns money by acquiring, developing, and selling properties, as well as through leasing and property management services. Key revenue streams include the sale of completed real estate projects, rental income from its portfolio of properties, and income from joint ventures and partnerships in various sectors. The company’s strategic collaborations with other real estate developers and investors also contribute to its earnings, as these partnerships often provide access to new markets and investment opportunities.

Rykadan Capital Ltd. Financial Statement Overview

Summary

Rykadan Capital Ltd. faces significant financial challenges, with declining revenues, negative profitability, and weak cash flow performance. The negative return on equity and substantial revenue decline highlight operational difficulties.

Income Statement

Rykadan Capital Ltd. has experienced significant revenue decline with a negative revenue growth rate of -56.91% in the latest year. The company also shows negative profitability margins, including a net profit margin of -3.78% and an EBIT margin of -2.87%. These figures indicate substantial challenges in generating profits from its operations.

Balance Sheet

The company maintains a moderate debt-to-equity ratio of 0.29, suggesting a relatively balanced approach to leveraging. However, the return on equity is negative at -48.55%, indicating that the company is not generating returns on shareholders' equity, which is a concern for investors.

Cash Flow

Rykadan Capital Ltd. shows a significant decline in free cash flow growth at -82.38%. The operating cash flow to net income ratio is low at 0.10, indicating challenges in converting income into cash. The free cash flow to net income ratio is relatively high at 0.92, but overall cash flow performance is weak.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	172.78M	74.45M	104.39M	87.69M	86.94M	168.16M
Gross Profit	-5.08M	8.26M	-27.30M	2.55M	11.13M	18.92M
EBITDA	-45.54M	-211.66M	-108.34M	-31.30M	-13.22M	23.07M
Net Income	-204.03M	-281.36M	-173.89M	-189.33M	-34.87M	4.50M
Balance Sheet
Total Assets	995.20M	813.40M	1.15B	1.36B	1.59B	1.55B
Cash, Cash Equivalents and Short-Term Investments	100.91M	63.60M	100.90M	167.49M	110.14M	369.79M
Total Debt	216.26M	170.28M	279.64M	312.80M	331.59M	240.99M
Total Liabilities	233.32M	256.61M	296.13M	328.20M	359.28M	269.87M
Stockholders Equity	773.74M	579.49M	861.37M	1.04B	1.23B	1.28B
Cash Flow
Free Cash Flow	82.51M	14.54M	-158.00K	-93.72M	-14.55M	121.50M
Operating Cash Flow	83.34M	15.75M	678.00K	-93.68M	-14.47M	121.60M
Investing Cash Flow	-4.70M	5.44M	-27.99M	112.76M	-325.28M	264.86M
Financing Cash Flow	-117.24M	-58.20M	-38.05M	42.01M	79.25M	-265.34M

Rykadan Capital Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.13
• 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:2288, the sentiment is Negative. The current price of 0.13 is below the 20-day moving average (MA) of 0.13, below the 50-day MA of 0.15, and below the 200-day MA of 0.15, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 42.83 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2288.

Rykadan Capital Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
1124	46 Neutral	HK$122.31M	-0.32	-45.85%	―	2528.40%	72.71%
0456	45 Neutral	HK$96.66M	-0.55	-38.92%	―	-54.13%	24.72%
0747	43 Neutral	HK$101.39M	-0.98	-25.89%	―	-72.39%	26.33%
2288	38 Underperform	HK$48.43M	―	-29.34%	―	-28.68%	-61.82%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%

Rykadan Capital Ltd. Corporate Events

Rykadan Capital’s 2025 AGM Resolutions Unanimously Approved

Rykadan Capital Limited, a company incorporated in the Cayman Islands, held its 2025 Annual General Meeting on September 10, 2025, where all proposed resolutions were unanimously passed by shareholders. The resolutions included the adoption of financial statements, re-election of directors, and authorization of directors to manage shares and remuneration, reflecting strong shareholder support and confidence in the company’s governance.

Rykadan Capital Sets Date for 2025 AGM with Key Resolutions on Agenda

Rykadan Capital Limited has announced the schedule for its 2025 Annual General Meeting (AGM), which will take place on September 10, 2025, in Hong Kong. The AGM will address several key resolutions, including the adoption of the company’s audited financial statements, re-election of directors, and re-appointment of auditors. Additionally, the board seeks approval for a mandate to repurchase shares and issue new shares, reflecting strategic financial management and potential growth initiatives.

Rykadan Capital Ltd. Advances Real Estate Portfolio with Major Property Acquisition

Rykadan Capital Ltd. announced a major transaction involving the acquisition of a property, which has been approved by a closely allied group of shareholders holding more than 50% of the voting rights. This strategic move is expected to enhance the company’s real estate portfolio and strengthen its market position without the need for a general shareholders’ meeting.

Rykadan Capital Reports Increased Losses for FY2025

Rykadan Capital Limited reported its annual financial results for the year ended March 31, 2025, showing a significant increase in losses compared to the previous year. The company experienced a total loss of HK$293.7 million from both continuing and discontinued operations, up from HK$176.2 million in the prior year. The decline in financial performance is attributed to lower revenue, increased impairment losses, and higher losses from associates and joint ventures. The company’s net assets per share decreased from HK$2.29 to HK$1.54, and the board has decided not to recommend a final dividend for the year.