Holly Futures Co. Ltd. Class H (HK:3678)
:3678
Top Page
Holly Futures Co. Ltd. Class H
(3678)
Select Model
Select Model
Rating:55Neutral
Price Target:
HK$3.50
▲(2.34% Upside)
Action:ReiteratedDate:01/14/26
The score is primarily supported by a conservative balance sheet and strong recent cash generation, but is held back by a sharp TTM revenue contraction and thin margins. Technicals are only moderately constructive, and valuation is a key risk due to the extremely high P/E despite a very high dividend yield.
Positive Factors
Conservative balance sheet
Low leverage and a stable equity base give the company durable financial flexibility. This supports resilience through market cycles, capacity to fund operations or strategic initiatives without reliance on costly debt, and provides downside protection for 2–6 month horizons.
Negative Factors
Sharp recent revenue decline
A material TTM revenue contraction materially reduces scale and operating leverage. Sustained top-line weakness compresses headroom for reinvestment, limits margin recovery, and makes earnings more sensitive to further volume weakness over the next several months.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low leverage and a stable equity base give the company durable financial flexibility. This supports resilience through market cycles, capacity to fund operations or strategic initiatives without reliance on costly debt, and provides downside protection for 2–6 month horizons.
Read all positive factors
Holly Futures Co. Ltd. Class H (3678) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$659.21M
Dividend Yield0.33%
Average Volume (3M)9.61M
Price to Earnings (P/E)169.9
Beta (1Y)2.06
Revenue Growth-53.05%
EPS Growth-32.93%
CountryHK
Employees636
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)<0.01
Shares Outstanding249,700,000
10 Day Avg. Volume5,472,700
30 Day Avg. Volume9,613,566
Financial Highlights & Ratios
PEG Ratio0.30
Price to Book (P/B)1.36
Price to Sales (P/S)0.89
P/FCF Ratio1.10
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. operates as a futures company in Mainland China and Honk Kong. The company primarily offers commodity and financial futures brokerage services; asset management services; futures and securities investment consulting service...
How the Company Makes Money
Holly Futures Co. Ltd. generates revenue primarily through brokerage fees charged on futures and options trading. The company earns commissions for facilitating trades for clients on its platforms, which can vary based on the volume and type of tr...
Holly Futures Co. Ltd. Class H Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
72
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.34B | 2.88B | 1.94B | 1.52B | 1.63B | 1.57B |
| Gross Profit | 1.38B | 179.72M | 126.41M | 104.86M | 1.64B | 1.57B |
| EBITDA | 6.91M | 79.12M | 51.91M | 42.94M | 138.39M | 123.27M |
| Net Income | 15.49M | 29.83M | 7.79M | 12.38M | 80.21M | 66.32M |
Balance Sheet | ||||||
| Total Assets | 12.53B | 11.70B | 9.31B | 10.48B | 8.08B | 6.35B |
| Cash, Cash Equivalents and Short-Term Investments | 660.10M | 785.47M | 825.66M | 6.88B | 4.96B | 3.90B |
| Total Debt | 341.01M | 286.95M | 191.27M | 146.95M | 174.65M | 57.22M |
| Total Liabilities | 10.66B | 9.82B | 7.47B | 8.65B | 6.40B | 4.70B |
| Stockholders Equity | 1.87B | 1.88B | 1.85B | 1.84B | 1.68B | 1.65B |
Cash Flow | ||||||
| Free Cash Flow | 766.54M | 2.33B | -1.65B | 1.86B | 992.27M | 791.61M |
| Operating Cash Flow | 776.24M | 2.35B | -1.62B | 1.93B | 1.24B | 803.07M |
| Investing Cash Flow | 142.75M | 37.79M | 121.90M | 148.93M | -24.72M | -310.40M |
| Financing Cash Flow | -51.19M | -157.14M | -9.79M | 119.82M | 44.82M | 3.95M |
Holly Futures Co. Ltd. Class H Technical Analysis
Negative
3.42
Price Trends
3.20
Negative
3.31
Negative
3.83
Negative
Market Momentum
-0.12
Positive
24.91
Positive
3.61
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 3.14, above the 50-day MA of 3.20, and below the 200-day MA of 3.83, indicating a bearish trend. The MACD of -0.12 indicates Positive momentum. The RSI at 24.91 is Positive, neither overbought nor oversold. The STOCH value of 3.61 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$566.23M | 5.92 | 4.26% | ― | 84.88% | 122.45% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
55 Neutral | HK$659.21M | 169.91 | 0.83% | 0.33% | -53.05% | -32.93% | |
52 Neutral | HK$274.49M | -42.01 | -1.85% | ― | -21.08% | -73.08% | |
46 Neutral | HK$860.42M | -3.89 | -14.53% | ― | 173.24% | -515.63% | |
46 Neutral | HK$601.14M | 4.56 | 1.42% | 2.39% | -18.72% | -45.10% | |
39 Underperform | HK$984.18M | -3.94 | 21.05% | ― | -78.40% | -196.19% |
* Financial Sector Average
HK:3678
Holly Futures Co. Ltd. Class H
2.64
0.56
26.92%
HK:0993
Huarong International Financial Holdings Limited
0.11
>-0.01
-7.38%
HK:0717
Emperor Capital Group Limited
0.08
0.03
68.00%
HK:0952
China Tonghai International Financial Limited
0.14
-0.03
-15.66%
HK:1461
ZHONGTAI FUTURES Company Limited Class H
0.60
0.14
30.43%
HK:6877
CLSA Premium Ltd.
0.14
-0.16
-55.00%
Holly Futures Co. Ltd. Class H Corporate Events
Holly Futures Announces Board Refresh With Resignation and New INED Nomination
Jan 23, 2026
Holly Futures Co. Ltd. has announced the resignation of independent non-executive director Huang Dechun, who is stepping down after six years in the role in accordance with PRC regulations and will remain in post until a successor is approved at a...
Holly Futures’ Concert Parties to Trim A‑Share Stakes by Up to 1% Without Change of Control
Dec 30, 2025
Holly Futures Co. Ltd. announced that Soho Holly Corporation and Jiangsu SOHO High Hope Group Corporation, both concerted parties of controlling shareholder Jiangsu SOHO Holdings Group Co., Ltd., plan to reduce their combined holdings in the compa...
Holly Futures Elevates Long-Serving Manager Chen Ke to Employee Director Role
Dec 19, 2025
Holly Futures Co. Ltd. has appointed 32-year-old company veteran Chen Ke as the employee director on its fifth board, effective 19 December 2025, following his election at the employees’ representative meeting in accordance with PRC company ...
Holly Futures Details Board Composition and Governance Committee Roles
Dec 19, 2025
Holly Futures Co. Ltd., a PRC-incorporated futures brokerage carrying on business in Hong Kong, operates in the financial services sector with a focus on derivatives trading and related risk management services for regional investors. The company ...
Holly Futures Completes Shareholding Reduction Plan
Nov 17, 2025
Holly Futures Co. Ltd. announced the completion of a shareholding reduction plan by its controlling shareholder’s concerted parties, High Hope Group and Holly Logistics. The reduction involved the sale of 10,077,647 A shares, representing 1%...
Holly Futures Announces Proposed H Share Reduction by Subsidiary
Nov 11, 2025
Holly Futures Co. Ltd., a joint stock company incorporated in the People’s Republic of China, has announced a proposed reduction in its H shares by a subsidiary of its controlling shareholder, SOHO Holdings Group Zhong Shan Company Limited. ...
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.