XXF Group Holdings Ltd. (HK:2473)
:2473
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XXF Group Holdings Ltd.
(2473)
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Rating:40Underperform
Price Target:
HK$0.87
▼(-88.92% Downside)
Action:Downgraded
Date:05/16/26
The score is driven primarily by weak financial quality—persistent negative cash flow and high leverage outweigh the 2025 revenue rebound. Technicals remain bearish with the stock below key moving averages, and valuation is pressured by an extremely high P/E with no dividend yield provided.
Positive Factors
Revenue re-acceleration
A sharp 2025 rebound shows the company can restore top-line growth after a soft period, indicating resilient demand or recoverable origination volumes. Durable revenue re-acceleration supports scale economics and provides a foundation for long-term recovery if margins and cash conversion improve.
Negative Factors
High leverage
An elevated debt-to-equity ratio (~3.2x) materially reduces financial flexibility in a credit-services business that depends on stable funding. High leverage increases interest and covenant risk, limits ability to invest, and amplifies the impact of earnings or cash-flow shocks on solvency over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue re-acceleration
A sharp 2025 rebound shows the company can restore top-line growth after a soft period, indicating resilient demand or recoverable origination volumes. Durable revenue re-acceleration supports scale economics and provides a foundation for long-term recovery if margins and cash conversion improve.
Read all positive factors
XXF Group Holdings Ltd. (2473) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.54B
Dividend YieldN/A
Average Volume (3M)14.16M
Price to Earnings (P/E)121.1
Beta (1Y)0.55
Revenue Growth27.44%
EPS Growth15.00%
CountryHK
Employees1,194
SectorFinancial
Sector Strength70
IndustryFinancial - Credit Services
Share Statistics
EPS (TTM)0.02
Shares Outstanding1,856,250,000
10 Day Avg. Volume8,487,931
30 Day Avg. Volume14,160,960
Financial Highlights & Ratios
PEG Ratio21.37
Price to Book (P/B)12.72
Price to Sales (P/S)6.12
P/FCF Ratio-20.93
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
XXF Group Holdings Ltd. Business Overview & Revenue Model
Company Description
XXF Group Holdings Limited, an automobile retailer, provides automobile finance lease services primarily through self-operated sales outlets in the People's Republic of China. The company sells non-luxury automobiles on direct finance lease; and o...
How the Company Makes Money
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XXF Group Holdings Ltd. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
44
Neutral
Cash Flow
24
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.81B | 1.17B | 1.30B | 1.14B | 1.17B |
| Gross Profit | 466.69M | 438.35M | 419.01M | 374.45M | 351.94M |
| EBITDA | 368.47M | 323.03M | 419.11M | 347.64M | 279.45M |
| Net Income | 44.67M | 39.97M | 110.25M | 78.91M | 34.11M |
Balance Sheet | |||||
| Total Assets | 3.83B | 3.31B | 2.92B | 2.60B | 2.20B |
| Cash, Cash Equivalents and Short-Term Investments | 375.90M | 340.60M | 286.88M | 219.61M | 103.65M |
| Total Debt | 2.80B | 2.29B | 1.88B | 1.73B | 1.40B |
| Total Liabilities | 2.95B | 2.48B | 2.14B | 2.09B | 1.76B |
| Stockholders Equity | 872.65M | 822.13M | 775.49M | 500.24M | 435.30M |
Cash Flow | |||||
| Free Cash Flow | -530.43M | -332.78M | -203.20M | -223.18M | -134.52M |
| Operating Cash Flow | -310.63M | -188.07M | 1.32M | -74.00M | -77.41M |
| Investing Cash Flow | -171.39M | -133.72M | -163.32M | -119.13M | -58.17M |
| Financing Cash Flow | 513.78M | 394.55M | 228.55M | 314.83M | 203.07M |
XXF Group Holdings Ltd. Technical Analysis
Negative
7.81
Price Trends
1.08
Negative
3.84
Negative
6.24
Negative
Market Momentum
-0.11
Negative
39.60
Neutral
43.73
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2473, the sentiment is Negative. The current price of 7.81 is above the 20-day moving average (MA) of 0.89, above the 50-day MA of 1.08, and above the 200-day MA of 6.24, indicating a bearish trend. The MACD of -0.11 indicates Negative momentum. The RSI at 39.60 is Neutral, neither overbought nor oversold. The STOCH value of 43.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2473.
XXF Group Holdings Ltd. Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | HK$2.70B | 15.46 | 2.99% | ― | 77.68% | 2.38% | |
52 Neutral | HK$994.29M | -4.65 | -8.70% | ― | 0.02% | -121.26% | |
49 Neutral | HK$1.40B | -30.27 | -118.33% | ― | 111.22% | 2.04% | |
47 Neutral | HK$573.60M | -1.95 | -12.57% | 9.77% | 9.41% | -219.96% | |
40 Underperform | HK$1.54B | 121.06 | 5.29% | ― | 27.44% | 15.00% |
* Financial Sector Average
HK:2473
XXF Group Holdings Ltd.
0.83
-5.72
-87.33%
HK:0628
Gome Finance Technology Co
0.52
0.22
73.33%
HK:3903
Hanhua Financial Holding Co., Ltd. Class H
0.17
0.00
0.00%
HK:2051
51 Credit Card Inc.
0.61
0.36
146.96%
HK:2003
VCREDIT Holdings Limited
1.18
-2.86
-70.79%
HK:8239
Capital Finance Holdings Limited
14.90
14.18
1969.44%
XXF Group Holdings Ltd. Corporate Events
XXF Group Plans HK$126 Million Share Placing and Top-Up Subscription
May 13, 2026
XXF Group Holdings Ltd. has entered into a placing and top-up subscription agreement involving existing and new shares, with expected aggregate gross proceeds of about HK$126.8 million. The placing shares account for roughly 9.09% of the current i...
XXF Group monetises vehicle assets via RMB4.6m sale-and-leaseback financing
May 13, 2026
XXF Group Holdings Ltd. has entered into a new series of sale-and-leaseback agreements under which an indirect wholly owned subsidiary and its units will sell automobile assets to a lessor for about RMB4.63 million and lease them back over 48 mont...
XXF Group Sets 2026 AGM to Renew Mandates and Board Seats
Apr 28, 2026
XXF Group Holdings Ltd. has called its annual general meeting for 18 June 2026 in Fuzhou, Fujian Province, where shareholders will review and adopt the audited consolidated financial statements and the directors’ and auditor’s reports ...
XXF Group Raises HK$151 Million Through Share Placing and Top-Up Subscription
Apr 21, 2026
XXF Group Holdings has completed a placing of 154,687,500 existing shares at HK$0.98 each to at least six independent investors, none of whom became a substantial shareholder, followed by a top-up subscription of an equal number of new shares to t...
XXF Group to Raise HK$152 Million via Discounted Share Placing and Top-Up Subscription
Apr 13, 2026
XXF Group Holdings has entered into a placing and top-up subscription arrangement involving the sale of existing shares by a major shareholder and the issuance of an equivalent number of new shares under its general mandate. The transaction is str...
XXF Group Clarifies Volkswagen Ownership in Sale-and-Leaseback Deal
Apr 8, 2026
XXF Group Holdings Limited has issued a supplemental announcement clarifying the ownership structure of the lessor involved in its previously disclosed sale and leaseback arrangements. The company states that Volkswagen Finance (China) Co., Ltd., ...
XXF Group Uses RMB5.3 Million Sale-and-Leaseback to Boost Liquidity
Mar 30, 2026
XXF Group has entered into new sale-and-leaseback arrangements under which an indirect wholly owned subsidiary and certain units will sell automobiles to a lessor for about RMB5.3 million and lease them back for 48 months for total rent of roughly...
XXF Group Delivers Revenue and Profit Growth Amid China’s Auto Boom
Mar 20, 2026
XXF Group Holdings reported solid growth for the year ended 31 December 2025, with revenue rising 27.2% year-on-year to RMB1.86 billion and gross profit up 9.3% to RMB479.1 million, while profit for the year increased 15.3% to RMB45.8 million. The...
XXF Group Revamps Company Secretary and Authorised Representative Roles
Mar 20, 2026
XXF Group Holdings Limited has announced a change in its key corporate governance roles, with company secretary Ms. Sze Suet Ling resigning effective 20 March 2026 and confirming she has no disagreement with the board or issues requiring sharehold...
XXF Group Sets March Board Meeting to Approve 2025 Results and Consider Dividend
Mar 10, 2026
XXF Group Holdings Ltd. has scheduled a board meeting for 20 March 2026 to review and approve the group’s annual results for the financial year ended 31 December 2025. The board will also consider the potential declaration of a final dividen...
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.