Baiwang Co., Ltd. Class H (HK:6657)
:6657
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Baiwang Co., Ltd. Class H
(6657)
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Rating:44Neutral
Price Target:
HK$11.00
▼(-41.49% Downside)
Action:Reiterated
Date:05/15/26
The score is held down primarily by persistent negative operating/free cash flow and a still-unprofitable earnings profile (negative P/E), despite meaningful improvement in loss levels. Technicals also weigh on the score, with the stock trading below major moving averages and weak momentum indicators.
Positive Factors
Gross Margin Sustainability
A sustained gross margin of ~40–45% implies durable unit economics for its software/application offerings. This level of gross profitability provides headroom to invest in product, support and sales while helping convert narrower operating losses into sustainable operating profit as revenue stabilizes.
Negative Factors
Persistent Negative Cash Flow
Consistent negative operating and free cash flow means the business is not self-funding and relies on external capital or balance-sheet resources. Sustained cash burn raises refinancing risk, limits reinvestment capacity, and can force dilutive or restrictive financing if external funding conditions tighten.
Read all positive and negative factors
Positive Factors
Negative Factors
Gross Margin Sustainability
A sustained gross margin of ~40–45% implies durable unit economics for its software/application offerings. This level of gross profitability provides headroom to invest in product, support and sales while helping convert narrower operating losses into sustainable operating profit as revenue stabilizes.
Read all positive factors
Baiwang Co., Ltd. Class H (6657) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$4.26B
Dividend YieldN/A
Average Volume (3M)18.39K
Price to Earnings (P/E)―
Beta (1Y)0.16
Revenue Growth10.59%
EPS Growth98.05%
CountryHK
Employees926
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)-0.04
Shares Outstanding225,906,750
10 Day Avg. Volume12,310
30 Day Avg. Volume18,390
Financial Highlights & Ratios
PEG Ratio4.28
Price to Book (P/B)4.33
Price to Sales (P/S)5.57
P/FCF Ratio-26.01
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$19.04Price Target Upside1.28% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.25
Revenue Forecast (FY)HK$1.01B
Baiwang Co., Ltd. Class H Business Overview & Revenue Model
Company Description
Baiwang Co., Ltd. provides enterprise digitalization solutions through Baiwang Cloud platform in China. It offers software as a service (SaaS) financial and tax digitalization, including e-invoice compliance management, intelligent financial, and ...
Baiwang Co., Ltd. Class H Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
63
Positive
Cash Flow
22
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 728.60M | 659.21M | 713.00M | 525.76M | 453.76M |
| Gross Profit | 308.13M | 263.42M | 282.03M | 236.75M | 247.75M |
| EBITDA | -21.02M | -173.57M | -339.67M | -91.81M | -186.88M |
| Net Income | -9.63M | -501.21M | -357.98M | -153.50M | -446.94M |
Balance Sheet | |||||
| Total Assets | 1.14B | 1.22B | 1.15B | 1.42B | 1.62B |
| Cash, Cash Equivalents and Short-Term Investments | 480.06M | 721.79M | 713.09M | 718.58M | 828.65M |
| Total Debt | 13.59M | 2.97M | 2.23B | 2.18B | 43.64M |
| Total Liabilities | 206.33M | 280.96M | 2.55B | 2.80B | 2.95B |
| Stockholders Equity | 937.66M | 940.54M | -1.40B | -1.38B | -1.33B |
Cash Flow | |||||
| Free Cash Flow | -156.03M | -155.31M | -105.43M | -59.25M | -15.87M |
| Operating Cash Flow | -154.92M | -152.14M | -99.33M | -54.04M | -10.03M |
| Investing Cash Flow | 111.15M | 1.29M | 216.81M | -189.80M | -189.78M |
| Financing Cash Flow | -8.58M | 256.80M | -19.66M | -13.72M | 435.67M |
Baiwang Co., Ltd. Class H Technical Analysis
Negative
18.80
Price Trends
14.35
Negative
15.52
Negative
16.42
Negative
Market Momentum
-0.84
Positive
36.96
Neutral
15.86
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6657, the sentiment is Negative. The current price of 18.8 is above the 20-day moving average (MA) of 13.14, above the 50-day MA of 14.35, and above the 200-day MA of 16.42, indicating a bearish trend. The MACD of -0.84 indicates Positive momentum. The RSI at 36.96 is Neutral, neither overbought nor oversold. The STOCH value of 15.86 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:6657.
Baiwang Co., Ltd. Class H Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | HK$5.34B | 56.59 | 6.30% | 3.47% | -5.00% | -79.97% | |
62 Neutral | HK$1.76B | 28.22 | 8.53% | ― | 14.29% | 142.01% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
52 Neutral | HK$3.74B | ― | -0.52% | 3.10% | -10.44% | ― | |
51 Neutral | HK$3.81B | 16.38 | 3.73% | ― | -12.84% | 11.49% | |
47 Neutral | HK$7.33B | 53.03 | 6.99% | ― | 19.62% | 32.01% | |
44 Neutral | HK$4.26B | -421.50 | -1.00% | ― | 10.59% | 98.05% |
* Technology Sector Average
HK:6657
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Baiwang Co., Ltd. Class H Corporate Events
Baiwang Narrows 2025 Loss and Turns Adjusted Profit on Higher Revenue
Mar 24, 2026
Baiwang Co., Ltd., a PRC-based joint stock company listed in Hong Kong, operates in technology-driven services with a revenue base supported by significant research and development and selling expenses. Its business profile suggests a scalable, pl...
Baiwang Schedules Board Meeting to Approve 2025 Annual Results and Consider Dividend
Mar 12, 2026
Baiwang Co., Ltd., a PRC-incorporated joint stock company listed in Hong Kong, operates under a diversified board that includes executive, non-executive and independent non-executive directors, underscoring its adherence to Hong Kong listing gover...
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.