Thing On Enterprise Limited (2292) AI Stock Analysis

• Market Cap: HK$532.80M
• Dividend Yield: N/A
• Average Volume (3M): 13.80K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.35
• Revenue Growth: 8.54%
• EPS Growth: -54.48%
• Country: HK
• Employees: 16
• Sector: Real Estate
• Sector Strength: 55
• Industry: Real Estate - Services
• EPS (TTM): -0.13
• Shares Outstanding: 720,000,000
• 10 Day Avg. Volume: 25,800
• 30 Day Avg. Volume: 13,800
• PEG Ratio: -0.05
• Price to Book (P/B): 0.51
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 35.98
• 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

• Rating: 43 Neutral
• Price Target: ―

Thing On Enterprise Limited's overall score is primarily impacted by its financial performance, with declining revenue and net losses being major concerns. The strong balance sheet provides some stability, but the technical analysis shows a lack of positive momentum, and the valuation is unattractive with a negative P/E ratio. These factors collectively contribute to a low overall score.

Thing On Enterprise Limited Business Overview & Revenue Model

Company Description

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How the Company Makes Money

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Thing On Enterprise Limited Financial Statement Overview

Summary

Thing On Enterprise Limited faces challenges with declining revenues and continuous net losses, negatively impacting the income statement score. The balance sheet is solid with a high equity ratio and no debt, providing stability. Positive cash flow management is evident, but underlying profitability issues remain a concern.

Income Statement

Thing On Enterprise Limited has been experiencing declining revenue with a negative revenue growth rate over the last few years. The gross profit margin remains strong at approximately 84.2% in the latest year, but the net profit margin is negative due to significant net losses. The EBIT margin has also turned negative, indicating operating difficulties.

Balance Sheet

The company maintains a solid equity position with a high equity ratio of 98.2%. There is no total debt reported, which minimizes financial risk. However, the return on equity is negative due to substantial net losses, which affects the overall strength of the balance sheet.

Cash Flow

Operating cash flow has shown modest growth, supporting liquidity despite the net losses. Free cash flow growth was positive, indicating efficient cash management. However, the free cash flow to net income ratio is high due to persistent negative net income, which could indicate underlying profitability issues.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	37.33M	35.37M	37.89M	38.48M	42.62M
Gross Profit	31.42M	29.72M	32.15M	33.13M	37.44M
EBITDA	21.01M	18.61M	-35.38M	-4.39M	-74.55M
Net Income	-96.74M	-62.63M	-38.97M	-8.39M	-79.81M
Balance Sheet
Total Assets	1.15B	1.25B	1.31B	1.43B	1.46B
Cash, Cash Equivalents and Short-Term Investments	53.17M	33.31M	17.41M	77.85M	78.06M
Total Debt	0.00	0.00	0.00	78.65M	99.59M
Total Liabilities	20.34M	19.69M	18.79M	98.10M	117.12M
Stockholders Equity	1.13B	1.23B	1.29B	1.33B	1.34B
Cash Flow
Free Cash Flow	18.64M	15.40M	18.21M	20.73M	21.05M
Operating Cash Flow	18.64M	15.40M	18.21M	20.73M	21.05M
Investing Cash Flow	1.23M	11.10M	-10.60M	75.17M	5.86M
Financing Cash Flow	0.00	0.00	-78.65M	-20.94M	-28.57M

Thing On Enterprise Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.74
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2292, the sentiment is Positive. The current price of 0.74 is above the 20-day moving average (MA) of 0.73, above the 50-day MA of 0.71, and above the 200-day MA of 0.70, indicating a bullish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 60.03 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 Positive sentiment for HK:2292.

Thing On Enterprise Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
1113	74 Outperform	$122.49B	9.01	3.52%	4.46%	-3.04%	-20.01%
0004	61 Neutral	HK$75.18B	―	-2.30%	1.63%	-36.07%	-441.20%
0081	59 Neutral	HK$6.44B	6.23	3.05%	7.73%	-20.27%	-59.83%
1997	59 Neutral	$73.93B	82.96	0.47%	4.93%	-2.96%	-81.31%
0333	55 Neutral	HK$87.31M	―	-1.92%	―	20.02%	90.55%
Sector *	53 Neutral	$1.18B	3.34	-0.11%	7.12%	-1.52%	-126.00%
2292	43 Neutral	HK$532.80M	―	-8.20%	―	8.54%	-54.48%

Thing On Enterprise Limited Corporate Events

Thing On Enterprise Limited Announces Trading Halt

Thing On Enterprise Limited, a company incorporated in the Cayman Islands, has announced a trading halt on its shares on the Hong Kong Stock Exchange. The halt is effective from 9:00 a.m. on April 29, 2025, pending the release of an announcement containing inside information related to the Hong Kong Code on Takeovers and Mergers. This move suggests potential significant developments that could impact the company’s operations and market positioning.

Thing On Enterprise Limited Successfully Passes All AGM Resolutions

Thing On Enterprise Limited announced that all resolutions proposed at its Annual General Meeting held on April 25, 2025, were successfully passed. The resolutions included re-electing directors, authorizing director remuneration, re-appointing auditors, and granting mandates for share issuance and repurchase, reflecting strong shareholder support.

Thing On Enterprise Limited Announces Annual General Meeting and Key Resolutions

Thing On Enterprise Limited has announced its Annual General Meeting, scheduled for April 25, 2025, in Hong Kong. The meeting will address several key business items, including the consideration of audited financial statements for the year ending December 31, 2024, re-election of directors, and re-appointment of PricewaterhouseCoopers as auditors. Additionally, the company seeks approval for directors to allot and issue additional shares, subject to certain conditions, which could impact the company’s capital structure and shareholder value.

Thing On Enterprise Limited Reports 2024 Financial Results with Increased Losses

Thing On Enterprise Limited reported its financial results for the year ended December 31, 2024, highlighting a modest increase in revenue and gross profit compared to the previous year. Despite these gains, the company experienced a significant loss before income tax due to a substantial decrease in the fair value of its investment properties, impacting its overall financial performance.