Tongdao Liepin Group (6100) AI Stock Analysis

• Market Cap: HK$1.91B
• Dividend Yield: N/A
• Average Volume (3M): 1.25M
• Price to Earnings (P/E): 12.4
• Beta (1Y): 2.16
• Revenue Growth: -10.48%
• EPS Growth: 30250.00%
• Country: HK
• Employees: 4,122
• Sector: Industrials
• Sector Strength: 72
• Industry: Staffing & Employment Services
• EPS (TTM): N/A
• Shares Outstanding: 514,483,760
• 10 Day Avg. Volume: 1,403,630
• 30 Day Avg. Volume: 1,252,098
• PEG Ratio: <0.01
• Price to Book (P/B): 0.47
• Price to Sales (P/S): 0.69
• P/FCF Ratio: 20.08
• 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: 73 Outperform
• Price Target: HK$5.50 ▲(71.87% Upside)

The score is primarily supported by solid financial stability (strong gross margins and low leverage) and positive technical momentum (price above key moving averages with positive MACD). These positives are tempered by inconsistent revenue/profitability trends and only moderate valuation support due to no dividend yield data.

Positive Factors

High gross margins

Consistently >75% gross margins signal durable pricing power and efficient direct cost control. That recurring margin buffer helps protect operating profitability from input-cost swings, supports sustained reinvestment in the business and underpins long-term cash generation.

Conservative balance sheet

Low leverage and an equity ratio above 60% provide financial flexibility to weather downturns, pursue strategic investments or M&A, and reduce refinancing risk. This structural strength preserves optionality and reduces the probability of solvency stress over multi-quarter horizons.

Positive operating cash generation

A positive free cash flow trend and efficient conversion of earnings into cash support self-funded growth, capex, and working capital needs. Reliable cash generation improves resilience to external shocks and reduces dependency on external financing for operational needs.

Negative Factors

Erratic revenue growth

Irregular and recently declining revenue undermines predictability of future earnings and complicates long-term planning. Structural volatility in top-line performance can reflect competitive pressure or demand cyclicality and raises execution risk for sustainable margin expansion.

Net profit margin volatility

Large swings in net margins, including a notable 2023 decline, indicate problems controlling non-operating costs or one-off losses. Persistent margin volatility weakens return on equity and makes long-term earnings durability and investor cash return forecasts less reliable.

Fluctuating free cash flow growth

Although FCF is positive, its volatility limits the firm's ability to fund growth consistently, pay stable dividends, or execute multi-year investments without tapping external capital. This variability increases financing and execution risk across planning horizons.

Tongdao Liepin Group Business Overview & Revenue Model

Company Description

Tongdao Liepin Group, an investment holding company, provides talent acquisition services in the People's Republic of China. The company operates Liepin, a talent acquisition platform, which offers online recruitment services for headhunters, business users, and individual users. It also operates Duomian, a video-based talent platform that allows job descriptions of business users and self-introductions of individual users in short video format; Xunhou, a staffing platform, which provides staffing SaaS solutions, such as human resource outsourcing, recruitment outsourcing, personnel agency, and campus recruitment; Lebanban, a training and assessment platform that offers employee learning and development solutions comprising training courses and employee performance evaluation; and Wenjuanxing, a survey SaaS platform, which provides data collection, storage, and analysis, as well as offers Liepin Campus, a campus recruitment solution, including online/offline campus presentation, employer branding, etc. In addition, it offers online survey and education services. The company was formerly known as Wise Talent Information Technology Co., Ltd and changed its name to Tongdao Liepin Group in July 2020. Tongdao Liepin Group was incorporated in 2018 and is headquartered in Beijing, the People's Republic of China.

How the Company Makes Money

Tongdao Liepin Group primarily generates revenue through multiple streams, including subscription fees from employers for job postings and access to its candidate database. Additionally, the company earns income from premium services offered to both job seekers and companies, such as enhanced visibility for job listings and targeted recruitment solutions. Significant partnerships with educational institutions and industry organizations further bolster its revenue model by allowing access to a broader talent pool and facilitating specialized recruitment services. The growth in demand for digital recruitment tools and services in China's rapidly evolving job market also contributes to the company's financial performance.

Tongdao Liepin Group Financial Statement Overview

Summary

Financial statements indicate solid overall fundamentals: strong gross margins (consistently above 75%) and a stable balance sheet with low leverage and a healthy cash position. Offsetting this, net profit margin and revenue growth have been inconsistent, including a notable profitability drop in 2023, and cash flow shows some variability despite positive free cash flow.

Income Statement

Tongdao Liepin Group's income statement shows solid gross profit margins, consistently above 75%, indicating strong cost management and pricing power. However, the net profit margin has fluctuated, with a significant drop in 2023, pointing to challenges in controlling non-operating expenses. Revenue growth has been erratic, with a decline in recent periods, reflecting market volatility or increased competition. EBIT and EBITDA margins are moderate, suggesting potential for operational improvements.

Balance Sheet

The balance sheet is strong, with a low debt-to-equity ratio indicating low financial leverage and a high equity ratio of over 60%, implying financial stability. Return on equity shows some volatility, affected by inconsistent net income. The company maintains a healthy cash position, providing a buffer against economic uncertainties.

Cash Flow

Cash flow analysis reveals a positive trend in free cash flow, albeit with fluctuations. The operating cash flow to net income ratio indicates efficient cash generation, but recent free cash flow growth suggests some instability in cash management. The company has been able to generate sufficient cash from operations to cover investment needs.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.00B	2.08B	2.28B	2.64B	2.65B	1.87B
Gross Profit	1.52B	1.58B	1.70B	2.05B	2.07B	1.46B
EBITDA	107.41M	126.07M	156.63M	259.94M	359.55M	226.69M
Net Income	168.42M	133.45M	750.00K	44.37M	134.43M	53.63M
Balance Sheet
Total Assets	4.35B	4.58B	4.53B	4.92B	4.89B	4.45B
Cash, Cash Equivalents and Short-Term Investments	1.79B	2.48B	2.28B	2.90B	1.43B	2.73B
Total Debt	163.33M	147.64M	133.98M	178.16M	146.93M	114.19M
Total Liabilities	1.22B	1.30B	1.36B	1.58B	1.69B	1.41B
Stockholders Equity	2.96B	3.06B	2.89B	3.07B	2.98B	2.87B
Cash Flow
Free Cash Flow	-46.51M	71.62M	5.79M	118.29M	661.75M	447.14M
Operating Cash Flow	-38.40M	92.54M	18.33M	143.10M	697.32M	466.29M
Investing Cash Flow	381.56M	179.11M	514.89M	60.68M	-551.21M	-90.72M
Financing Cash Flow	-262.67M	-129.13M	-343.33M	-226.48M	-166.38M	-215.86M

Tongdao Liepin Group Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3.20
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6100, the sentiment is Negative. The current price of 3.2 is below the 20-day moving average (MA) of 4.13, below the 50-day MA of 3.95, and below the 200-day MA of 3.77, indicating a neutral trend. The MACD of 0.03 indicates Positive momentum. The RSI at 39.86 is Neutral, neither overbought nor oversold. The STOCH value of 3.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:6100.

Tongdao Liepin Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
6100	73 Outperform	HK$1.91B	12.42	―	―	-10.48%	30250.00%
2180	73 Outperform	HK$1.04B	6.83	11.29%	36.73%	17.49%	9.67%
8031	70 Outperform	HK$177.38M	―	―	―	―	―
8462	66 Neutral	HK$49.20M	4.88	7.43%	―	-11.47%	5.00%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
8042	60 Neutral	HK$49.60M	22.14	3.76%	―	50.80%	―
6919	46 Neutral	HK$704.00M	-12.20	-4.09%	2.26%	14.29%	-200.37%

Tongdao Liepin Group Corporate Events

Tongdao Liepin Deploys RMB170 Million Into Low-Risk Structured Deposits With XIB

Tongdao Liepin Group has subscribed to new principal-guaranteed corporate structured deposit products issued by XIB with a total principal of RMB140 million, funded by its surplus cash reserves and proceeds from earlier redeemed structured deposits. Together with an earlier RMB30 million placement in September 2025, these investments constitute discloseable transactions under Hong Kong listing rules, triggering notification and announcement requirements but not shareholder approval, and reflect the company’s continued use of low-risk, short-term wealth management products to optimize liquidity management while maintaining capital security.

The most recent analyst rating on (HK:6100) stock is a Buy with a HK$4.00 price target. To see the full list of analyst forecasts on Tongdao Liepin Group stock, see the HK:6100 Stock Forecast page.

Tongdao Liepin Group Invests in Wealth Management Products

Tongdao Liepin Group has announced a series of subscriptions to wealth management products through various subsidiaries, totaling several million RMB. These investments are part of the company’s strategy to utilize its surplus cash reserves, and they are structured as principal-guaranteed deposits with low risk and pegged to the EUR/USD exchange rate. The transactions are considered discloseable under the Hong Kong Stock Exchange’s listing rules, but they do not require shareholder approval.

The most recent analyst rating on (HK:6100) stock is a Hold with a HK$3.50 price target. To see the full list of analyst forecasts on Tongdao Liepin Group stock, see the HK:6100 Stock Forecast page.

Tongdao Liepin Group Engages in Significant Wealth Management Subscriptions

Tongdao Liepin Group has announced a series of subscriptions for principal-guaranteed, fixed-income wealth management products through its subsidiary, TD Elite (HK) Information Technology Co., Limited. These subscriptions, issued by CGMHI and Morgan Stanley Finance LLC, total $76 million and are set to be redeemed by October 2025. The transactions are considered discloseable under the Hong Kong Stock Exchange Listing Rules, as they exceed the 5% but remain below the 25% threshold, thus requiring notification and announcement but not shareholder approval.

The most recent analyst rating on (HK:6100) stock is a Hold with a HK$3.50 price target. To see the full list of analyst forecasts on Tongdao Liepin Group stock, see the HK:6100 Stock Forecast page.