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Xinming China Holdings Limited
(2699)
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Rating:43Neutral
Price Target:
HK$4.50
▲(1945.45% Upside)
Action:Reiterated
Date:06/04/26
The score is weighed down primarily by weak financial performance—persistent losses, negative equity, and volatile cash flow—indicating elevated balance-sheet and liquidity risk. Technicals are mixed with only modest near-term support, while valuation is constrained by loss-making results and no stated dividend yield.
Positive Factors
Revenue rebound
A sharp revenue rebound in 2025 indicates renewed demand or successful project execution, providing a larger revenue base to absorb fixed costs. If sustained, higher top-line can enable margin recovery, improved cash generation and de-leveraging over multiple quarters, supporting long-term recovery.
Negative Factors
Negative shareholders' equity
Sustained negative equity reflects cumulative losses and severely weakened financial flexibility. It raises refinancing and covenant risks, limits ability to secure project financing, and makes conventional leverage metrics meaningless — a structural constraint on growth and survival until equity is restored.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue rebound
A sharp revenue rebound in 2025 indicates renewed demand or successful project execution, providing a larger revenue base to absorb fixed costs. If sustained, higher top-line can enable margin recovery, improved cash generation and de-leveraging over multiple quarters, supporting long-term recovery.
Read all positive factors
Xinming China Holdings Limited (2699) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$120.19M
Dividend YieldN/A
Average Volume (3M)7.58M
Price to Earnings (P/E)―
Beta (1Y)0.25
Revenue Growth26.55%
EPS Growth90.56%
CountryHK
Employees47
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)-2.28
Shares Outstanding26,300,709
10 Day Avg. Volume3,415,000
30 Day Avg. Volume7,578,381
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)-0.07
Price to Sales (P/S)2.31
P/FCF Ratio-3.38
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
Xinming China Holdings Limited Business Overview & Revenue Model
Company Description
Xinming China Holdings Limited, an investment holding firm, operates primarily as an integrated developer of both residential and commercial real estate within the People's Republic of China. Its business activities are structured across three div...
Xinming China Holdings Limited Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
9
Very Negative
Cash Flow
22
Negative
| Breakdown | Dec 2025 | Dec 2024 | Jun 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 109.46M | 86.84M | 422.58M | 35.20M | 101.83M |
| Gross Profit | 66.70M | 7.92M | -73.07M | 20.01M | 77.62M |
| EBITDA | 67.42M | -110.35M | -113.48M | -648.17M | -11.88M |
| Net Income | -219.03M | -542.52M | -526.12M | -2.25B | -863.93M |
Balance Sheet | |||||
| Total Assets | 2.20B | 2.14B | 2.22B | 2.63B | 5.22B |
| Cash, Cash Equivalents and Short-Term Investments | 7.38M | 41.65M | 36.29M | 56.37M | 20.22M |
| Total Debt | 1.49B | 1.49B | 1.55B | 1.59B | 1.85B |
| Total Liabilities | 5.91B | 5.69B | 5.18B | 5.06B | 5.20B |
| Stockholders Equity | -3.39B | -3.24B | -2.76B | -2.23B | 20.52M |
Cash Flow | |||||
| Free Cash Flow | -74.84M | 66.08M | -84.27M | -1.68M | 166.86M |
| Operating Cash Flow | -74.84M | 66.08M | -84.27M | -1.68M | 166.88M |
| Investing Cash Flow | -2.92K | 6.00K | 178.00K | 53.00K | -248.00K |
| Financing Cash Flow | 80.01M | -66.76M | 77.99M | -11.16M | -151.66M |
Xinming China Holdings Limited Technical Analysis
Negative
0.22
Price Trends
4.97
Negative
4.91
Negative
7.32
Negative
Market Momentum
-0.07
Positive
34.44
Neutral
42.55
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2699, the sentiment is Negative. The current price of 0.22 is below the 20-day moving average (MA) of 4.99, below the 50-day MA of 4.97, and below the 200-day MA of 7.32, indicating a bearish trend. The MACD of -0.07 indicates Positive momentum. The RSI at 34.44 is Neutral, neither overbought nor oversold. The STOCH value of 42.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2699.
Xinming China Holdings Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
50 Neutral | HK$39.80M | -0.08 | -39.03% | ― | -14.20% | -25.42% | |
43 Neutral | HK$120.19M | -1.73 | 6.47% | ― | 26.55% | 90.56% | |
42 Neutral | HK$53.57M | -0.75 | -61.82% | ― | -10.56% | 91.75% | |
40 Underperform | HK$24.62M | >-0.01 | ― | ― | ― | ― | |
40 Underperform | HK$25.51M | >-0.01 | 76.48% | ― | -13.96% | 35.58% |
* Real Estate Sector Average
HK:2699
Xinming China Holdings Limited
4.57
-38.03
-89.27%
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0.09
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Modern Land (China) Co., Ltd.
0.01
>-0.01
-38.10%
HK:0755
Shanghai Zendai Property Ltd.
0.30
-0.24
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HK:1862
Jingrui Holdings Ltd.
0.02
>-0.01
-5.88%
HK:2608
Sunshine 100 China Holdings Ltd.
0.01
0.00
0.00%
Xinming China Holdings Limited Corporate Events
Xinming China Rights Issue Undersubscribed, Unplaced Shares to Be Reduced
Jul 8, 2026
Xinming China Holdings Limited reported that its ongoing rights issue, structured at six rights shares for every one consolidated share at HK$4.70 per rights share, has been significantly undersubscribed at the close of the acceptance period. Only...
Xinming China Wins Full Shareholder Backing at 2026 AGM
Jun 30, 2026
Xinming China Holdings Limited reported that all resolutions tabled at its annual general meeting held in Hong Kong on 30 June 2026 were approved by shareholders via poll. The meeting endorsed the audited consolidated financial statements for the ...
Xinming China Details Plan to Re-Appoint Auditor Global Link and Sets 2026 Audit Fee
Jun 15, 2026
Xinming China Holdings has issued a supplemental announcement to its June 2026 circular, clarifying arrangements for the re-appointment of its external auditor ahead of the upcoming annual general meeting. The disclosure primarily concerns governa...
Xinming China Updates Hong Kong Principal Place of Business
Jun 10, 2026
Xinming China Holdings Limited has announced a change to its principal place of business in Hong Kong, effective 10 June 2026, relocating to Room 126, 1/F, Goodwill Industrial Building, 36-44 Pak Tin Par Street, Tsuen Wan, New Territories. The mov...
Xinming China Sets 2026 AGM to Approve Accounts, Board Mandates and Share Issue Authority
Jun 8, 2026
Xinming China Holdings Limited has convened its annual general meeting for 30 June 2026 in Hong Kong, where shareholders will review the audited consolidated financial statements and the reports of the board and external auditor for the year ended...
Xinming China Confirms Share Consolidation and Clarifies EGM Poll Notice
Jun 3, 2026
Xinming China Holdings Limited has confirmed that all conditions for its proposed share consolidation have been satisfied, including approval from the Hong Kong Stock Exchange to list and trade the consolidated shares. As a result, the consolidati...
Xinming China Wins Shareholder Backing for Major Capital Reorganisation and Rights Issue
Jun 1, 2026
Xinming China Holdings Limited obtained shareholder approval at its 1 June 2026 extraordinary general meeting for a capital reorganisation that includes a share consolidation, signalling a restructuring of its share capital base. All resolutions w...
Xinming China Seeks Share Consolidation and Rights Issue Approval at 2026 EGM
May 15, 2026
Xinming China Holdings Limited has called an extraordinary general meeting in Hong Kong on 1 June 2026 to seek shareholder approval for a major share capital restructuring. The board is asking investors to endorse a consolidation of every 25 exist...
Xinming China Plans 25-for-1 Share Consolidation and Revised HK$106 Million Rights Issue
Apr 22, 2026
Xinming China Holdings plans a 25-to-1 share consolidation, reducing its issued share capital from 93,931,100 existing shares to 3,757,244 consolidated shares, subject to shareholder approval at an extraordinary general meeting. The board lot size...
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.