BOCOM International Holdings Co. Ltd. (3329) AI Stock Analysis

• Market Cap: HK$1.05B
• Dividend Yield: N/A
• Average Volume (3M): 2.63M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.83
• Revenue Growth: 22.37%
• EPS Growth: 20.18%
• Country: HK
• Employees: 541
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Conglomerates
• EPS (TTM): -0.10
• Shares Outstanding: 2,734,392,000
• 10 Day Avg. Volume: 3,222,775
• 30 Day Avg. Volume: 2,628,219
• PEG Ratio: 0.04
• Price to Book (P/B): 0.98
• Price to Sales (P/S): -2.64
• P/FCF Ratio: 0.86
• 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: 46 Neutral
• Price Target: HK$0.42 ▲(15.83% Upside)

The score is held down primarily by weak financial performance—multi-year losses and high leverage with a shrinking equity base. Technicals are modestly supportive near-term (RSI/Stoch in the low-60s and price above the 20DMA), but the broader trend remains mixed and MACD is slightly negative. Valuation provides limited support due to a negative P/E and no dividend yield data.

Positive Factors

Diversified Financial Services

A diversified business mix across investment banking, brokerage, trading and asset/wealth management supports multiple fee and trading revenue streams. This reduces single-market dependence, helping the firm maintain revenue sources through market cycles and structural shifts in client demand.

Revenue Growth Trend

Double-digit revenue growth indicates expanding top-line activity that can underpin longer-term recovery if sustained. Persistent revenue expansion provides operating leverage potential to improve margins and supports rebuilding profitability as cost and capital structure issues are addressed.

Positive Cash Generation Recently

Positive operating and free cash flow in 2023–2024 shows the firm can generate liquidity despite accounting losses. Sustainable cash conversion supports near-term funding of operations, reduces immediate refinancing pressure, and allows management to prioritize deleveraging or strategic investments.

Negative Factors

Sustained Net Losses

Multi-year losses since 2022 signal weakened core earnings power and impaired profitability dynamics. Persistent deficits erode capital, hinder ability to absorb shocks, and make it harder to rebuild reserves without durable improvement in revenue mix or material cost and risk reductions.

Very High Leverage

An elevated debt-to-equity ratio (7–8x) and shrinking equity severely constrain financial flexibility. For a financial services firm, heavy leverage raises solvency and regulatory capital risks, increases refinancing sensitivity, and limits capacity to pursue growth or withstand market stress.

Volatile Cash Flow and FCF Drop

Marked volatility in operating cash flow and a sharp decline in 2024 free cash flow reduce predictability of internal funding. This undermines planning, complicates debt servicing and capital allocation decisions, and raises the risk that shortfalls force dilutive financing or asset sales.

BOCOM International Holdings Co. Ltd. Business Overview & Revenue Model

Company Description

BOCOM International Holdings Company Limited, an investment holding company, provides securities and related financial services in Hong Kong and Mainland China. It operates through Brokerage, Corporate Finance and Underwriting, Asset Management and Advisory, Margin Financing, Investment and Loans, and Others segments. The Brokerage segment trades in stocks, bonds, futures, options, and other marketable securities. The Corporate Finance and Underwriting segment offers corporate finance services, including equity and debt underwriting, sponsor services, and financial advisory services to institutional clients. The Asset Management and Advisory segment provides traditional asset management products and services to third party clients; and investment advisory, portfolio management, and transaction execution services. The Margin Financing segment offers securities-backed financial leverage for retail and institutional clients. The Investment and Loans segment engages in direct investment business, including investments in various debt and equity securities, investment in companies, and investment in loans. The company was formerly known as BOCOM Securities Company Limited and changed its name to BOCOM International Holdings Company Limited in May 2007. The company was incorporated in 1998 and is headquartered in Central, Hong Kong. BOCOM International Holdings Company Limited is a subsidiary of Bank of Communications Co., Ltd.

How the Company Makes Money

BOCOM International generates revenue primarily through its diverse financial services offerings. Key revenue streams include commission and fee income from its securities brokerage services, advisory fees from corporate finance activities such as underwriting and mergers and acquisitions, and management fees from its asset management operations. Additionally, the company earns interest income from its margin lending activities. Strategic partnerships with financial institutions and an extensive client network bolster its earnings by expanding its service reach and client base.

BOCOM International Holdings Co. Ltd. Financial Statement Overview

Summary

Financial performance is weak: income statement and balance sheet scores are low (24 and 22) due to sustained net losses since 2022 and a highly levered capital structure with a shrinking equity base. Cash flow is a partial offset (score 56) with positive operating/free cash flow in 2023–2024, but volatility and a sharp drop in 2024 free cash flow keep risk elevated.

Income Statement

Earnings quality and momentum have deteriorated materially versus prior profitable years (2019–2021). The company moved from solid profits in 2019–2021 to steep net losses in 2022–2024, with 2024 showing a larger operating loss and negative revenue (a major red flag and likely mix/valuation-driven for a financial firm). While 2024 shows an increase in revenue versus 2023, profitability remains deeply negative, indicating weak underlying earnings power and elevated volatility.

Balance Sheet

Leverage is high and has become more constraining: debt-to-equity is elevated (roughly 7–8x in 2023–2024) while equity has shrunk sharply from 2021 levels, reducing the cushion against losses. Returns on equity are strongly negative in 2022–2024, consistent with capital erosion. Total assets have also trended down since 2021–2022, suggesting balance-sheet contraction alongside weaker profitability.

Cash Flow

Cash generation is a relative bright spot recently: operating cash flow and free cash flow are positive in 2023 and 2024, and free cash flow is roughly in line with net income in 2023–2024 (despite net losses). However, cash flow volatility remains a key risk—operating cash flow was negative in 2020 and 2022, and 2024 free cash flow dropped sharply versus 2023, indicating less stable cash conversion through the cycle.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	-291.54M	-326.04M	662.11M	818.92M	1.69B	2.20B
Gross Profit	-291.54M	-326.04M	-761.69M	670.27M	1.52B	2.04B
EBITDA	-494.17M	0.00	0.00	-1.75B	748.77M	1.48B
Net Income	-1.16B	-1.23B	-1.47B	-2.98B	262.42M	843.15M
Balance Sheet
Total Assets	16.81B	14.52B	18.21B	24.66B	32.66B	23.36B
Cash, Cash Equivalents and Short-Term Investments	1.75B	1.58B	1.30B	1.80B	1.85B	0.00
Total Debt	10.46B	6.78B	14.29B	18.49B	22.36B	13.82B
Total Liabilities	16.01B	13.63B	16.41B	21.99B	25.24B	15.58B
Stockholders Equity	801.49M	882.75M	1.80B	2.68B	6.81B	7.31B
Cash Flow
Free Cash Flow	-1.48B	1.01B	1.21B	-363.08M	2.79B	-262.58M
Operating Cash Flow	-1.47B	1.04B	1.25B	-292.87M	2.80B	-240.65M
Investing Cash Flow	199.74M	1.48B	2.61B	2.10B	-9.11B	2.10B
Financing Cash Flow	346.90M	-2.55B	-4.32B	-4.16B	7.84B	3.11B

BOCOM International Holdings Co. Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.36
• 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:3329, the sentiment is Negative. The current price of 0.36 is below the 20-day moving average (MA) of 0.39, below the 50-day MA of 0.39, and below the 200-day MA of 0.44, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 48.72 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 Negative sentiment for HK:3329.

BOCOM International Holdings Co. Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
6058	64 Neutral	HK$1.98B	26.05	2.32%	2.11%	20.05%	16.56%
1945	57 Neutral	HK$507.69M	109.03	0.78%	―	-21.71%	-75.78%
0279	50 Neutral	HK$827.14M	-15.78	-499.08%	―	191.15%	-1.98%
8029	49 Neutral	HK$336.10M	-8.22	―	―	-20.98%	-7.44%
3329	46 Neutral	HK$1.05B	-0.91	-99.49%	―	22.37%	20.18%
3623	44 Neutral	HK$599.13M	-15.94	-9.25%	―	-66.98%	-115.16%

BOCOM International Holdings Co. Ltd. Corporate Events

BOCOM International Buys US$10 Million CITIC-Linked Notes as Long-Term Investment

BOCOM International’s wholly owned subsidiary Preferred Investment has acquired US$10 million in notes issued by an offshore unit of CITIC Securities’ group, using internal resources to fund the purchase. The transaction, carried out in the over-the-counter market at par value and partly distributed via another BOCOM International subsidiary, is classified as a discloseable transaction under Hong Kong listing rules and is positioned by the company as a long-term investment aimed at generating stable returns while efficiently deploying capital with what it describes as commensurate risk, underscoring its strategy of leveraging fixed-income products to support steady income within its broader securities and investment platform.

The most recent analyst rating on (HK:3329) stock is a Hold with a HK$0.40 price target. To see the full list of analyst forecasts on BOCOM International Holdings Co. Ltd. stock, see the HK:3329 Stock Forecast page.

BOCOM International Executive Director Tan Yueheng to Step Down in 2026

BOCOM International Holdings has announced that executive director Tan Yueheng will resign from the board with effect from 1 January 2026 due to work adjustment, and will simultaneously step down from the board’s Strategy and Risk Management Committee. The company emphasized that Tan has no disagreement with the board and that there are no issues related to his departure requiring shareholder attention, suggesting the move is a routine management change rather than a signal of governance disputes, with the board expressing gratitude for his contributions during his tenure.

The most recent analyst rating on (HK:3329) stock is a Hold with a HK$0.34 price target. To see the full list of analyst forecasts on BOCOM International Holdings Co. Ltd. stock, see the HK:3329 Stock Forecast page.

BOCOM International Reshapes Board and Committees for 2026 Governance Structure

BOCOM International Holdings Company Limited has announced an updated composition of its board of directors effective 1 January 2026, confirming a structure that includes non-executive, executive and independent non-executive directors. Xiao Ting will continue to serve as chairman, with executive roles held by CEO Xie Jie and deputy CEO and chief risk officer Wang Xianjia, while independent oversight is provided by directors Ma Ning, Lin Zhijun and Pu Yonghao, who also take key positions across the strategy and risk management, audit, remuneration and nomination committees. The detailed allocation of committee chairmanships and memberships underscores the company’s focus on corporate governance, risk management and board-level oversight as it enters 2026, with potential implications for strategic decision-making and regulatory confidence among investors and other stakeholders.

The most recent analyst rating on (HK:3329) stock is a Hold with a HK$0.34 price target. To see the full list of analyst forecasts on BOCOM International Holdings Co. Ltd. stock, see the HK:3329 Stock Forecast page.

BOCOM International Announces Key Agreement Extensions Following Successful Voting at EGM

BOCOM International Holdings Co. Ltd. has announced the results of its Extraordinary General Meeting held on December 17, 2025, where three resolutions were approved, extending key agreements on property leasing, financial services, and financial technology services for another three years ending December 31, 2028. These approvals reflect the company’s forward-planning strategies and reinforce its operational commitments, likely strengthening its position in the financial services and technology integration arenas.

The most recent analyst rating on (HK:3329) stock is a Sell with a HK$6.21 price target. To see the full list of analyst forecasts on BOCOM International Holdings Co. Ltd. stock, see the HK:3329 Stock Forecast page.

BOCOM International Announces Renewal of Key Framework Agreements

BOCOM International Holdings Co. Ltd. has announced the renewal of its Property Leasing Framework Agreement and the introduction of new Continuing Connected Transactions (CCT) Framework Agreements. These agreements, subject to shareholder approval, will take effect from January 1, 2026, and are set to run until December 31, 2028, with automatic renewals every three years. The transactions under these agreements are significant as they involve BOCOM, the company’s controlling shareholder, and are classified as continuing connected transactions under Hong Kong’s Listing Rules. This move is expected to impact the company’s operations by ensuring compliance with regulatory requirements and securing long-term operational frameworks.

The most recent analyst rating on (HK:3329) stock is a Sell with a HK$6.21 price target. To see the full list of analyst forecasts on BOCOM International Holdings Co. Ltd. stock, see the HK:3329 Stock Forecast page.

BOCOM International Acquires Notes for Long-Term Investment

BOCOM International Holdings Co. Ltd. announced the acquisition of CCAMCL Note I and CCAMCL Note II, amounting to approximately US$10 million, through its wholly-owned subsidiary, Preferred Investment. These acquisitions are considered discloseable transactions under the Hong Kong Stock Exchange’s Listing Rules, as they fall within a specific percentage ratio range. The acquisitions are expected to provide long-term investment opportunities for the company, generating stable returns while efficiently utilizing capital resources.

The most recent analyst rating on (HK:3329) stock is a Sell with a HK$6.21 price target. To see the full list of analyst forecasts on BOCOM International Holdings Co. Ltd. stock, see the HK:3329 Stock Forecast page.

BOCOM International Approves Revised Annual Caps at EGM

BOCOM International Holdings Co. Ltd. announced the successful passing of a resolution at its extraordinary general meeting held on November 5, 2025. The resolution, which involved approving revised annual caps for revenue transactions related to securities brokerage, was passed with an overwhelming majority. This decision reflects the company’s strategic efforts to enhance its financial services framework, potentially impacting its market operations and stakeholder interests positively.

The most recent analyst rating on (HK:3329) stock is a Sell with a HK$6.21 price target. To see the full list of analyst forecasts on BOCOM International Holdings Co. Ltd. stock, see the HK:3329 Stock Forecast page.