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Holly Futures Co. Ltd. Class H
(3678)
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Rating:56Neutral
Price Target:
HK$2.00
▼(-41.52% Downside)
Action:Reiterated
Date:05/09/26
The score is primarily supported by strong recent cash generation and a conservatively levered balance sheet, but is held back by highly volatile/weak revenue and profitability (including negative revenue in TTM), a technically weak price trend below key moving averages, and a high P/E that offsets the benefit of a very high dividend yield.
Positive Factors
Conservative balance sheet
A low debt load and sizeable equity base provide a durable financial cushion that reduces solvency risk and preserves strategic optionality. Over the next 2–6 months this conservatism supports capital flexibility for opportunistic investments, dividend support, or weathering market volatility without urgent refinancing.
Negative Factors
Highly unstable revenue
Extreme revenue volatility undermines forecasting, capital allocation and investment decisions. Structural or cyclical swings of this magnitude reduce visibility into future cash flows and increase execution risk, making multi‑quarter planning and consistent shareholder returns harder to sustain.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
A low debt load and sizeable equity base provide a durable financial cushion that reduces solvency risk and preserves strategic optionality. Over the next 2–6 months this conservatism supports capital flexibility for opportunistic investments, dividend support, or weathering market volatility without urgent refinancing.
Read all positive factors
Holly Futures Co. Ltd. Class H (3678) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$511.88M
Dividend Yield0.22%
Average Volume (3M)9.61M
Price to Earnings (P/E)117.5
Beta (1Y)2.13
Revenue Growth-107.67%
EPS Growth-64.00%
CountryHK
Employees568
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)0.02
Shares Outstanding249,700,000
10 Day Avg. Volume5,472,700
30 Day Avg. Volume9,613,566
Financial Highlights & Ratios
PEG Ratio-8.59
Price to Book (P/B)1.57
Price to Sales (P/S)10.85
P/FCF Ratio3.89
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
Holly Futures Co. Ltd. Class H Business Overview & Revenue Model
Company Description
Holly Futures Co., Ltd. is a futures trading enterprise operating across Mainland China and Hong Kong. Its core offerings include brokerage services for both commodity and financial futures, complemented by asset management, and investment advisor...
How the Company Makes Money
null...
Holly Futures Co. Ltd. Class H Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
74
Positive
Cash Flow
81
Very Positive
| Breakdown | Mar 2026 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 270.24M | 2.88B | 1.94B | 1.52B | 1.63B |
| Gross Profit | 210.72M | 179.72M | 126.41M | 104.86M | 1.64B |
| EBITDA | 39.99M | 79.12M | 51.91M | 42.94M | 138.39M |
| Net Income | 3.89M | 29.83M | 7.79M | 12.38M | 80.21M |
Balance Sheet | |||||
| Total Assets | 12.67B | 11.70B | 9.31B | 10.48B | 8.08B |
| Cash, Cash Equivalents and Short-Term Investments | 509.99M | 785.47M | 825.66M | 6.88B | 4.96B |
| Total Debt | 565.02M | 286.95M | 191.27M | 146.95M | 174.65M |
| Total Liabilities | 10.80B | 9.82B | 7.47B | 8.65B | 6.40B |
| Stockholders Equity | 1.87B | 1.88B | 1.85B | 1.84B | 1.68B |
Cash Flow | |||||
| Free Cash Flow | 753.64M | 2.33B | -1.65B | 1.86B | 992.27M |
| Operating Cash Flow | 761.36M | 2.35B | -1.62B | 1.93B | 1.24B |
| Investing Cash Flow | -4.24B | 37.79M | 121.90M | 148.93M | -24.72M |
| Financing Cash Flow | -52.65M | -157.14M | -9.79M | 119.82M | 44.82M |
Holly Futures Co. Ltd. Class H Technical Analysis
Negative
3.42
Price Trends
2.45
Negative
2.73
Negative
3.14
Negative
Market Momentum
-0.10
Positive
33.65
Neutral
16.36
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3678, the sentiment is Negative. The current price of 3.42 is above the 20-day moving average (MA) of 2.27, above the 50-day MA of 2.45, and above the 200-day MA of 3.14, indicating a bearish trend. The MACD of -0.10 indicates Positive momentum. The RSI at 33.65 is Neutral, neither overbought nor oversold. The STOCH value of 16.36 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:3678.
Holly Futures Co. Ltd. Class H Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | HK$349.46B | 12.89 | 6.85% | 2.75% | 91.20% | 30.16% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | HK$10.42B | 15.74 | 37.98% | 4.01% | -1.70% | 8.52% | |
61 Neutral | HK$71.26B | 17.19 | 6.25% | 2.66% | 14.46% | 25.89% | |
57 Neutral | HK$621.18M | 6.35 | 3.24% | 2.39% | -58.31% | 1793.88% | |
56 Neutral | HK$511.88M | 117.50 | 0.81% | 0.33% | -107.67% | -64.00% | |
49 Neutral | HK$1.33B | 10.97 | -2.38% | ― | 1061.35% | ― |
* Financial Sector Average
HK:3678
Holly Futures Co. Ltd. Class H
2.05
-2.84
-58.07%
HK:6178
Everbright Securities Company Limited Class H
7.43
-2.57
-25.71%
HK:1428
Bright Smart Securities & Commodities Group Limited
6.14
-10.96
-64.09%
HK:0218
Shenwan Hongyuan (H.K.) Limited
0.85
-1.28
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ZHONGTAI FUTURES Company Limited Class H
0.62
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HK:2611
Guotai Junan Securities Co., Ltd. Class H
14.87
-0.29
-1.95%
Holly Futures Co. Ltd. Class H Corporate Events
Holly Futures Forecasts Sharp First-Half Profit Rebound on Client and Investment Gains
Jul 14, 2026
Holly Futures Co. Ltd. expects to swing to a net profit of between RMB19 million and RMB28.5 million for the first half of 2026, compared with a loss of RMB3.6 million a year earlier, with basic earnings per share rising to about RMB0.0189–0...
Holly Futures Moves to Replace Independent Director After Resignation
Jul 14, 2026
Holly Futures Co. Ltd. announced that independent non-executive director Zhang Hongfa has tendered his resignation from the board, along with his roles as chairman of the nomination committee and member of the remuneration, risk management, and st...
Soho Holly Futures Settles RMB1.7 Million Supplementary Property Tax Without Operational Impact
Jul 2, 2026
Soho Holly Futures Co., Ltd. has disclosed that a recent self-examination of its tax affairs, conducted in line with national tax laws, resulted in a requirement to make a supplementary corporate property tax payment. The company paid RMB1,315,865...
Soho Holly Futures Declares Final 2025 Dividend and Sets Hong Kong Payment Details
Jun 26, 2026
Soho Holly Futures Co., Ltd. has declared a final ordinary cash dividend of RMB 0.04 per 10 shares for the financial year ended 31 December 2025, with shareholder approval obtained on 26 June 2026. The dividend for H shareholders will be paid in H...
Holly Futures Shareholders Approve 2025 Reports and Final Dividend at AGM
Jun 26, 2026
Holly Futures Co. Ltd. Class H held its annual general meeting on June 26, 2026, in Nanjing, conducted in accordance with PRC company and securities laws, Shenzhen Stock Exchange rules, and its articles of association. The meeting was attended by ...
Holly Futures Delays New Auditor Appointment as ShineWing Retires Under Rotation Rule
Jun 26, 2026
Holly Futures Co. Ltd. Class H has announced a delay in appointing a new auditor as its existing auditor, ShineWing Certified Public Accountants LLP, will retire at the conclusion of the 26 June 2026 annual general meeting due to Jiangsu SASACR...
Soho Holly Futures Updates 2025 Final Dividend and Withholding Tax Details
Jun 5, 2026
Soho Holly Futures Co., Ltd. announced an updated final cash dividend for the year ended 31 December 2025, declaring RMB 0.04 per 10 shares, with shareholder approval scheduled for 26 June 2026 and key Hong Kong record, ex-dividend, and payment da...
Holly Futures Sets 2025 AGM to Approve Results, Profit Plan and 2026 Remuneration
Jun 5, 2026
Holly Futures has convened its 2025 annual general meeting for 26 June 2026 in Nanjing, where shareholders will review and approve the company’s A share and H share annual reports and results for the year ended 31 December 2025. The AGM will...
Holly Futures Says Controlling Shareholder Retains Control After H-Share Sell-Down
Jun 1, 2026
Holly Futures Co. Ltd. has announced the expiry of a shareholding reduction plan undertaken by Zhong Shan Company, an overseas subsidiary of controlling shareholder Jiangsu SOHO Holdings Group Co., Ltd., which disposed of 12,564,720 H shares via c...
Holly Futures Q1 2026 Profit Jumps Amid Ongoing Cash Flow Pressure
Apr 28, 2026
Holly Futures Co. Ltd., a PRC-incorporated futures brokerage operating in Hong Kong, reported modest growth in assets and equity in its 2026 first quarter results. Total assets reached RMB 12.85 billion, while equity attributable to shareholders e...
Holly Futures Revamps Company Secretarial Roles After Resignation in Hong Kong
Apr 28, 2026
Holly Futures Co. Ltd. announced that joint company secretary, alternate authorized representative, and Hong Kong process agent Ms. Chan Yin Wah has resigned effective 28 April 2026 for personal work reasons, with no disagreements reported with th...
Holly Futures’ Controlling Shareholder Allies Complete Modest Share Reduction
Apr 27, 2026
Holly Futures has announced that a previously disclosed shareholding reduction plan by its controlling shareholder’s concerted parties, SOHO Holly Corporation and Jiangsu SOHO High Hope Group Corporation, has now expired. The reductions were...
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.