E-Star Commercial Management Company Limited (HK:6668)
:6668
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E-Star Commercial Management Company Limited
(6668)
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Rating:73Outperform
Price Target:
HK$1.50
â–²(8.70% Upside)
Action:ReiteratedDate:04/25/26
The score is driven primarily by attractive valuation (low P/E and high dividend yield) and solid underlying profitability/cash generation. Offsetting these positives are weakening revenue/margin momentum and a more levered balance sheet than earlier years, while technicals are supportive but not strongly bullish.
Positive Factors
Strong free cash flow
FCF parity with accounting earnings and a 29.5% rebound in 2025 indicate high earnings quality and durable cash conversion. This supports sustained dividend capacity, routine capex, and targeted debt reduction, improving resilience across business cycles over the next 2–6 months.
Negative Factors
Declining revenue trend
A multi-year weakening in top-line growth, including a 7.7% fall in 2025, signals structural demand or pricing pressure in core service lines. Persistent revenue contraction compresses operating leverage and limits ability to grow cash flows and rebuild margins over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow
FCF parity with accounting earnings and a 29.5% rebound in 2025 indicate high earnings quality and durable cash conversion. This supports sustained dividend capacity, routine capex, and targeted debt reduction, improving resilience across business cycles over the next 2–6 months.
Read all positive factors
E-Star Commercial Management Company Limited (6668) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.42B
Dividend Yield9.78%
Average Volume (3M)418.47K
Price to Earnings (P/E)9.0
Beta (1Y)0.64
Revenue Growth-9.52%
EPS Growth-7.86%
CountryHK
Employees954
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)0.06
Shares Outstanding1,014,516,000
10 Day Avg. Volume150,700
30 Day Avg. Volume418,466
Financial Highlights & Ratios
PEG Ratio-0.67
Price to Book (P/B)0.98
Price to Sales (P/S)2.19
P/FCF Ratio7.16
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)0.24
Revenue Forecast (FY)HK$796.03M
E-Star Commercial Management Company Limited Business Overview & Revenue Model
Company Description
E-Star Commercial Management Company Limited, an investment holding company, provides commercial property operational services to owners or tenants in respect of commercial properties in the People's Republic of China. It operates through three se...
How the Company Makes Money
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E-Star Commercial Management Company Limited Financial Statement Overview
Summary
Income Statement
71
Positive
Balance Sheet
63
Positive
Cash Flow
74
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 567.81M | 644.54M | 635.01M | 561.85M | 572.21M |
| Gross Profit | 271.07M | 297.91M | 333.56M | 313.04M | 330.43M |
| EBITDA | 227.01M | 241.47M | 323.65M | 259.04M | 263.60M |
| Net Income | 138.94M | 154.47M | 171.10M | 154.28M | 184.92M |
Balance Sheet | |||||
| Total Assets | 2.29B | 2.28B | 2.32B | 2.14B | 1.43B |
| Cash, Cash Equivalents and Short-Term Investments | 1.34B | 1.37B | 1.43B | 1.26B | 1.26B |
| Total Debt | 681.62M | 669.42M | 695.41M | 690.53M | 68.73M |
| Total Liabilities | 1.02B | 1.02B | 1.05B | 961.15M | 293.70M |
| Stockholders Equity | 1.27B | 1.25B | 1.26B | 1.15B | 1.12B |
Cash Flow | |||||
| Free Cash Flow | 174.11M | 167.68M | 298.04M | 157.84M | 182.55M |
| Operating Cash Flow | 174.61M | 168.22M | 299.34M | 161.93M | 199.76M |
| Investing Cash Flow | -225.97M | 190.34M | -152.60M | -4.22M | -667.12M |
| Financing Cash Flow | -141.52M | -194.87M | -85.72M | -118.17M | 772.05M |
E-Star Commercial Management Company Limited Technical Analysis
Neutral
1.38
Price Trends
1.37
Negative
1.37
Negative
1.35
Positive
Market Momentum
<0.01
Negative
50.12
Neutral
38.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6668, the sentiment is Neutral. The current price of 1.38 is above the 20-day moving average (MA) of 1.35, above the 50-day MA of 1.37, and above the 200-day MA of 1.35, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 50.12 is Neutral, neither overbought nor oversold. The STOCH value of 38.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:6668.
E-Star Commercial Management Company Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | HK$1.59B | 3.79 | 16.35% | 9.95% | 4.09% | -4.80% | |
73 Outperform | HK$1.42B | 8.97 | 11.22% | 9.78% | -9.52% | -7.86% | |
71 Outperform | HK$1.53B | 6.97 | 6.08% | ― | -0.24% | 6.41% | |
66 Neutral | HK$833.00M | -25.47 | -4.93% | 4.14% | -3.01% | -178.00% | |
66 Neutral | HK$866.45M | 8.58 | 2.74% | 16.21% | -5.00% | -66.14% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
58 Neutral | HK$454.75M | 3.99 | 8.29% | 18.38% | -6.24% | -27.19% |
* Real Estate Sector Average
HK:6668
E-Star Commercial Management Company Limited
1.37
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E-Star Commercial Management Company Limited Corporate Events
E-Star Commercial Management Sets 2026 AGM, Proposes Dividend and Share Issuance Mandate
Apr 22, 2026
E-Star Commercial Management Company Limited has convened its annual general meeting for 5 June 2026 in Shenzhen, where shareholders will review the audited consolidated financial statements and directors’ and auditor’s reports for the...
E-Star Clarifies Terms of Changzhou Unit Disposal and Shift in Property Operating Model
Apr 9, 2026
E-Star Commercial Management has issued a supplemental announcement regarding its connected transaction to dispose of 100% equity interest in its subsidiary, Changzhou Commercial Management, and to change the operating model of a related commercia...
E-Star Commercial Management Revamps Board and Committees
Mar 31, 2026
E-Star Commercial Management Company Limited announced that executive director Ma Chaoqun and non-executive director Liu Jun will resign from the board with effect from 31 March 2026 to focus on other business commitments. The company said both di...
E-Star Commercial Management Sets Out Board and Committee Structure
Mar 31, 2026
E-Star Commercial Management Company Limited has announced the current composition of its board of directors, led by chairman Huang De-Lin Benny and chief executive officer Chen Qunsheng as executive directors, alongside two non-executive director...
E-Star Commercial Management Proposes Final 2025 Dividend of HKD 0.085 Per Share
Mar 25, 2026
E-Star Commercial Management Company Limited has proposed a final ordinary dividend of HKD 0.085 per share for the financial year ended 31 December 2025, reinforcing its shareholder-return policy following a full-year performance review. The divid...
E-Star Commercial Management Posts Lower 2025 Profit but Lifts Payout to 87%
Mar 25, 2026
E-Star Commercial Management reported 2025 revenue of RMB582.9 million, down 9.6% year-on-year, with gross profit falling 6.6% to RMB278.3 million but gross margin improving to 47.7%. Profit for the year declined 6.8% to RMB138.2 million, while pr...
E-Star Commercial Management Sets March Board Meeting to Approve 2025 Results
Mar 13, 2026
E-Star Commercial Management Company Limited announced that its board of directors will convene a meeting on 25 March 2026 to review and approve the annual results for the financial year ended 31 December 2025. The board will also consider the pot...
E-Star shifts Changzhou property to asset-light model in connected RMB5.5m disposal
Mar 9, 2026
E-Star Commercial Management is reshaping its approach to a Changzhou retail property by shifting from a traditional sublease service model to an asset-light brand and management output model. The company, through its subsidiary Nanjing Xingheng, ...
E-Star Tightens Investment Policy, Prioritising Safety and Selective IPO Bets
Feb 26, 2026
E-Star Commercial Management has signed a supplemental agreement with its investment manager that refines how its idle cash will be deployed, emphasizing safety and liquidity. Under the revised terms, portfolio assets will primarily be invested in...
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.