Overseas Chinese Town (Asia) Holdings Limited (3366) AI Stock Analysis

• Market Cap: HK$265.67M
• Dividend Yield: N/A
• Average Volume (3M): 1.77M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.49
• Revenue Growth: -62.34%
• EPS Growth: 70.06%
• Country: HK
• Employees: 133
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Development
• EPS (TTM): -0.28
• Shares Outstanding: 748,366,000
• 10 Day Avg. Volume: 3,286,800
• 30 Day Avg. Volume: 1,771,333
• PEG Ratio: 0.01
• Price to Book (P/B): -0.32
• Price to Sales (P/S): 0.17
• P/FCF Ratio: -0.17
• 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: 44 Neutral
• Price Target: HK$0.34 ▼(-9.47% Downside)

The score is primarily held down by very weak financial performance (negative equity, persistent losses, and negative operating/free cash flow). Technicals provide a partial offset via improving momentum and a price above key moving averages, but valuation remains challenged due to negative earnings (negative P/E) and no stated dividend yield support.

Positive Factors

Mainland China market focus

A concentrated focus on mainland China positions the company within the country's large, long‑run housing and commercial property market. Structural demand for urban development and redevelopment can provide a durable addressable market for projects and asset monetization over multiple cycles.

Multiple real estate activity streams

Operating across development, sales and property‑related investment/management creates diversified revenue channels. This mix can smooth cyclical swings, provide recurring fee income from management activities, and support value extraction from completed assets over the medium term.

HKEX listing provides financing access

A Hong Kong listing affords ongoing access to international capital markets and broader investor pools, a structural advantage for an asset‑intensive developer. It can facilitate equity or bond raises, strategic partnerships and visibility when seeking long‑term financing or refinancing.

Negative Factors

Balance sheet equity deficit

A persistent equity deficit (liabilities > assets) indicates structural solvency stress and high leverage. This reduces financial flexibility, impairs ability to raise secured funding on favorable terms, and increases default risk, constraining long‑term project execution and growth.

Chronic negative cash generation

Sustained negative operating and free cash flow undermines the firm's ability to self‑fund development cycles, service liabilities, and invest in new projects. Reliance on external financing raises refinancing risk and can force asset disposals or equity dilution over the medium term.

Declining revenue and persistent losses

Falling top‑line and shrinking gross margins alongside multi‑year net losses point to weakening competitive positioning or pricing pressure. Continued unprofitability erodes capital, hampers reinvestment, and raises the probability that operational cutbacks or restructuring will be required to restore sustainable margins.

Overseas Chinese Town (Asia) Holdings Limited Business Overview & Revenue Model

Company Description

Overseas Chinese Town (Asia) Holdings Limited, an investment holding company, engages in the development, equity investment, and fund management businesses in Hong Kong. It operates through three segments: Comprehensive Development Business, Equity Investment and Fund Business, and Finance Lease Business. The company develops and operates tourism theme parks; develops and sells residential properties; develops, manages, and invests in properties; and operates a hotel. It also invests in new urbanization industrial ecosphere, such as domestic and overseas direct investments, industrial funds, and education. In addition, the company provides consulting and management, and finance lease services. Further, it is involved in the tourism and real estate development, and enterprise management activities. The company was founded in 1985 and is headquartered in Hong Kong, Hong Kong. Overseas Chinese Town (Asia) Holdings Limited is a subsidiary of Pacific Climax Limited.

How the Company Makes Money

The company generates revenue through multiple key streams, including ticket sales from its theme parks, fees from hotel accommodations, and sales from its real estate developments. The theme parks, which are a major revenue driver, attract visitors both domestically and internationally, providing a significant income through entrance fees and ancillary services such as food and merchandise sales. Additionally, the company earns from property sales and leasing income from its real estate projects. Partnerships with local governments and tourism organizations also enhance its market reach and contribute to its earnings by facilitating joint ventures and promotional activities that attract more visitors to its properties.

Overseas Chinese Town (Asia) Holdings Limited Financial Statement Overview

Summary

Financials indicate severe distress: revenue has declined sharply, profitability has been negative for multiple years with a negative EBIT margin, the balance sheet shows negative equity (liabilities exceeding assets), and operating/free cash flows are consistently negative.

Income Statement

The company exhibited declining revenue with a significant drop from 2022 to 2024. Gross profit margins decreased from 24.9% in 2020 to 14.0% in 2024, and net income was negative for five consecutive years. The EBIT margin turned negative, indicating operational challenges and poor profitability.

Balance Sheet

The balance sheet shows a significant equity deficit in 2023 and 2024, with liabilities exceeding assets. The debt-to-equity ratio is not calculable due to negative equity, signifying financial instability. The company is highly leveraged, increasing financial risk.

Cash Flow

The company consistently reported negative operating and free cash flows, indicating poor cash generation capabilities. The inability to generate positive free cash flow poses significant risks to sustaining operations and financing obligations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	628.76M	966.53M	1.26B	3.07B	1.47B	1.31B
Gross Profit	70.09M	135.02M	139.17M	322.32M	304.15M	316.48M
EBITDA	-260.16M	50.60M	-112.04M	7.07M	59.02M	637.61M
Net Income	-143.27M	-173.14M	-464.53M	-1.91B	-883.25M	63.76M
Balance Sheet
Total Assets	11.53B	11.60B	22.93B	22.78B	26.34B	25.42B
Cash, Cash Equivalents and Short-Term Investments	152.16M	96.91M	2.46B	1.93B	3.35B	4.27B
Total Debt	8.15B	8.21B	11.81B	6.87B	8.11B	8.85B
Total Liabilities	10.46B	10.40B	19.59B	12.90B	13.94B	12.20B
Stockholders Equity	-624.20M	-527.29M	-220.17M	6.19B	8.62B	9.43B
Cash Flow
Free Cash Flow	-67.58M	-1.00B	-931.71M	-1.24B	-2.24B	-2.07B
Operating Cash Flow	-63.15M	-995.69M	-834.00M	-1.04B	-2.18B	-1.86B
Investing Cash Flow	1.42B	1.39B	2.38B	-47.90M	2.15B	1.06B
Financing Cash Flow	-2.69B	-2.78B	-1.01B	-320.08M	-912.92M	3.38B

Overseas Chinese Town (Asia) Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.38
• 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:3366, the sentiment is Positive. The current price of 0.38 is above the 20-day moving average (MA) of 0.36, above the 50-day MA of 0.32, and above the 200-day MA of 0.24, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 50.79 is Neutral, neither overbought nor oversold. The STOCH value of 47.31 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:3366.

Overseas Chinese Town (Asia) Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
3366	44 Neutral	HK$265.67M	-1.73	―	―	-62.34%	70.06%
0185	44 Neutral	HK$248.74M	-0.21	-157.74%	―	-14.64%	69.18%
6968	41 Neutral	HK$137.85M	-0.14	-26.32%	―	-70.72%	-667.17%
6158	39 Underperform	HK$131.03M	-0.01	―	―	-70.13%	-16.86%
1996	39 Underperform	HK$112.71M	-0.02	-1347.47%	―	-59.30%	19.71%

Overseas Chinese Town (Asia) Holdings Limited Corporate Events

OCT Asia Renews Connected Property Management Deal for Hefei Project

Overseas Chinese Town (Asia) Holdings has entered into a new three-year framework agreement with the Hefei branch of OCT Property (Group) to provide a full suite of property management services for the Hefei OCT International Town Project from 2026 to 2028, replacing an existing agreement that expires at the end of 2025. The deal, covering maintenance, operations, security, cleaning, landscaping, and management of sales and delivery areas, is classified as a continuing connected transaction under Hong Kong listing rules; because its size ratios fall between 0.1% and 5%, it will require reporting, announcement and annual review but is exempt from independent shareholders’ approval, signaling ongoing intra-group cooperation while maintaining regulatory oversight for minority investors.

The most recent analyst rating on (HK:3366) stock is a Hold with a HK$0.30 price target. To see the full list of analyst forecasts on Overseas Chinese Town (Asia) Holdings Limited stock, see the HK:3366 Stock Forecast page.