Suoxinda Holdings Limited (3680) AI Stock Analysis

• Market Cap: HK$1.25B
• Dividend Yield: N/A
• Average Volume (3M): 976.81K
• Price to Earnings (P/E): 451.4
• Beta (1Y): 0.36
• Revenue Growth: -25.92%
• EPS Growth: N/A
• Country: HK
• Employees: 226
• Sector: Technology
• Sector Strength: 88
• Industry: Information Technology Services
• EPS (TTM): 0.07
• Shares Outstanding: 790,868,040
• 10 Day Avg. Volume: 735,600
• 30 Day Avg. Volume: 976,813
• PEG Ratio: 0.23
• Price to Book (P/B): 35.34
• Price to Sales (P/S): 1.91
• P/FCF Ratio: -32.10
• 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: 39 Underperform
• Price Target: HK$1.50 ▼(-5.66% Downside)

The score is driven primarily by weak financial performance (continued losses, high leverage, and negative free cash flow). Technicals are mixed but still broadly bearish (below key longer-term moving averages and negative MACD). Valuation provides little support due to the extremely high P/E and no dividend yield data.

Positive Factors

Diversified business model

Operating across media, telecommunications and technology gives the company structural resilience by spreading revenue risk across sectors. This diversification enables cross-selling, resource reallocation between segments, and longer-term stability if one end-market softens.

Multiple monetization channels

Having both advertising partnerships and subscription models supports mixed recurring and variable revenue, improving revenue durability. Diversified monetization helps smoothing cash flows, supports margin improvement opportunities, and aids long-term customer monetization strategies.

Recurring telecom service revenue

A significant telecommunications segment typically generates recurring connectivity revenue with higher retention and predictable billing cycles. This can provide a stable revenue base to underwrite media investments and reduce volatility in overall top-line performance over the medium term.

Negative Factors

Persistent operating losses

Sustained negative net income and EBIT erode capitalization and impede reinvestment. Continued operating losses weaken competitive positioning by limiting funds for product development, marketing and network upkeep, making it harder to execute growth strategies over the coming months.

Negative free cash flow

Consistent negative free cash flow constrains the company’s ability to fund operations internally, pay down debt, or invest in growth without external capital. Over time this heightens refinancing risk and can force strategic trade-offs that impair long-term competitiveness.

High leverage and declining equity

Elevated leverage and shrinking equity raise solvency and refinancing concerns, increasing interest burden and reducing financial flexibility. This structural balance-sheet weakness limits capacity for strategic investments and leaves the company exposed to industry shocks or higher borrowing costs.

Suoxinda Holdings Limited Business Overview & Revenue Model

Company Description

Ruihe Data Technology Holdings Ltd. is an investment holding company, which engages in the provision of big data, artificial intelligence and digital marketing solutions, and professional consulting services to financial institutions, and other enterprises and helping all kinds of enterprises and organizations to fully realize the value of data and accelerate their digital transformation driven by data. The company was founded on March 25, 2004 and is headquartered in Hangzhou, China.

How the Company Makes Money

Suoxinda Holdings Limited generates revenue through multiple streams, primarily by offering digital media and telecommunications services to both consumers and businesses. The company monetizes its digital media content through advertising partnerships and subscription models, allowing it to earn revenue from advertisers seeking to reach its user base. Additionally, the telecommunications segment contributes significantly to the company's earnings by providing services such as mobile connectivity and internet solutions. Strategic partnerships with technology providers and advertising firms further bolster its revenue, enabling Suoxinda to expand its market reach and improve service offerings, which in turn attracts more clients and enhances profitability.

Suoxinda Holdings Limited Financial Statement Overview

Summary

Weak fundamentals: persistent operating losses (negative net income and EBIT), high leverage with declining equity (negative ROE), and consistently negative free cash flow indicating ongoing liquidity and sustainability pressure.

Income Statement

The income statement shows negative net income and EBIT over multiple years, indicating continued operational losses. Revenue growth is stagnant with minor fluctuations, and profit margins are negative due to consistent losses, reflecting poor profitability and challenging market conditions.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio due to significant liabilities and decreasing equity, reflecting financial leverage risk. ROE is negative, showing inefficiency in generating returns. The equity ratio has declined, indicating increased reliance on debt to finance assets.

Cash Flow

Free cash flow remains negative, reflecting challenges in generating cash from operations. The operating cash flow to net income ratio is poor, indicating difficulties in converting earnings into cash. Consistent negative free cash flow suggests liquidity issues and potential cash constraints.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	317.22M	377.84M	367.94M	377.13M	397.37M	330.29M
Gross Profit	32.61M	38.08M	47.13M	89.34M	129.20M	117.59M
EBITDA	-36.69M	-36.58M	-70.44M	-81.78M	-43.12M	-11.20M
Net Income	4.23M	-75.00M	-109.23M	-128.19M	-76.24M	-13.11M
Balance Sheet
Total Assets	343.87M	298.85M	444.15M	410.88M	473.69M	481.74M
Cash, Cash Equivalents and Short-Term Investments	25.72M	16.40M	113.26M	15.11M	21.95M	74.18M
Total Debt	133.86M	124.52M	187.55M	89.36M	83.18M	132.59M
Total Liabilities	226.24M	255.97M	326.84M	307.37M	319.52M	266.09M
Stockholders Equity	97.30M	20.46M	95.84M	82.76M	137.69M	204.34M
Cash Flow
Free Cash Flow	15.49M	-22.53M	-55.14M	-64.37M	-62.21M	-139.08M
Operating Cash Flow	15.49M	-16.62M	-38.37M	-21.31M	-12.04M	-89.59M
Investing Cash Flow	-2.10M	-7.41M	-8.74M	-51.80M	-50.03M	-19.74M
Financing Cash Flow	-66.52M	-73.74M	147.65M	65.27M	10.15M	6.01M

Suoxinda Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.59
• 50DMA: Positive
• 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:3680, the sentiment is Positive. The current price of 1.59 is above the 20-day moving average (MA) of 1.28, above the 50-day MA of 1.57, and below the 200-day MA of 1.60, indicating a neutral trend. The MACD of -0.03 indicates Negative momentum. The RSI at 58.18 is Neutral, neither overbought nor oversold. The STOCH value of 68.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:3680.

Suoxinda Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2176	74 Outperform	HK$1.09B	12.51	47.22%	12.99%	2.82%	10.06%
1522	71 Outperform	HK$702.54M	3.84	6.75%	7.27%	7.39%	2.23%
0046	70 Outperform	HK$354.31M	12.03	5.83%	7.24%	-1.26%	-10.80%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
0771	61 Neutral	HK$747.09M	4.86	6.77%	3.66%	5.84%	94.89%
1985	55 Neutral	HK$390.00M	-194.03	-0.83%	8.55%	-1.86%	-105.19%
3680	39 Underperform	HK$1.25B	451.43	4.78%	―	-25.92%	―

Suoxinda Holdings Limited Corporate Events

Ruihe Data Tech Plans Discounted Share Placing to Raise HK$123 Million

Ruihe Data Technology Holdings Limited has entered into a placing agreement to issue up to 158 million new shares under its existing general mandate at HK$0.783 per share, representing about 19.98% of its current issued share capital and 16.65% of the enlarged share capital. The placing price reflects a discount to recent market prices and is expected to raise approximately HK$123.17 million in net proceeds, which will be used mainly to repay group borrowings and for general working capital, with the remainder earmarked for non-crypto-related strategic investments. The placing will be conducted on a best-endeavour basis through Theia Securities Limited, a connected person controlled by executive director Sun Dexin, and does not require additional shareholder approval, though completion remains conditional and may or may not proceed, prompting a cautionary note to investors.

The most recent analyst rating on (HK:3680) stock is a Sell with a HK$0.86 price target. To see the full list of analyst forecasts on Suoxinda Holdings Limited stock, see the HK:3680 Stock Forecast page.