Good Fellow Healthcare Holdings Limited (8143) AI Stock Analysis

• Market Cap: HK$129.64M
• Dividend Yield: N/A
• Average Volume (3M): 491.55K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.20
• Revenue Growth: -30.45%
• EPS Growth: -734.38%
• Country: HK
• Employees: 118
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Care Facilities
• EPS (TTM): >-0.01
• Shares Outstanding: 1,127,299,900
• 10 Day Avg. Volume: 447,466
• 30 Day Avg. Volume: 491,551
• PEG Ratio: 0.10
• Price to Book (P/B): -8.05
• Price to Sales (P/S): 3.25
• P/FCF Ratio: 20.30
• 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: 42 Neutral
• Price Target: HK$0.11 ▼(-42.11% Downside)
• Action: Upgraded Date: 03/24/26
• Date: Action: Upgraded 03/24/26

The score is held down primarily by weak financial performance: sustained losses, sharp revenue decline, and negative equity in FY2025 signal elevated fundamental risk despite improved FY2025 operating/free cash flow. Technicals add modest pressure as the stock trades below key longer-term moving averages with a negative MACD. Valuation remains constrained by loss-making results (negative P/E) and no indicated dividend yield.

Positive Factors

High gross profit margin

A gross margin near 52% indicates the company’s core services generate healthy unit economics. That level of underlying margin provides structural capacity to absorb SG&A and support recovery in operating profits if revenue stabilizes or fixed costs are restructured over the medium term.

Positive operating cash flow

Generating positive operating cash flow despite accounting losses shows the business can convert some service activity into cash. This durable cash generation reduces immediate liquidity pressure, supports operational continuity, and gives management runway to implement restructuring or efficiency measures.

Healthcare services industry exposure

Being positioned in medical care facilities exposes the company to structural demand for health services. This industry alignment provides a defensive revenue base and long-term relevance, supporting potential demand resilience as management addresses operational and financial shortcomings.

Negative Factors

Steep revenue contraction

A 30% year-over-year revenue drop is structurally damaging: it reduces scale economics and gross profit dollars, strains fixed-cost coverage, and can erode market position. Reversing such a decline is essential for sustainable recovery and requires durable demand or successful business repositioning.

Large ongoing losses

A net margin near -63% reflects substantial recurring losses that deplete capital and hinder reinvestment. Persisting operating deficits weaken ability to self-fund turnaround initiatives, increase reliance on external financing, and raise the risk of prolonged impairment to shareholder value.

Weak balance sheet and negative equity

Negative shareholders' equity and an inverted debt-to-equity signal acute balance-sheet stress. This structural weakness limits access to traditional financing, increases refinancing and solvency risk, and may force dilutive capital raises or restructuring that materially constrain strategic options.

Good Fellow Healthcare Holdings Limited Business Overview & Revenue Model

Company Description

Good Fellow Healthcare Holdings Limited, an investment holding company, provides general hospital services in the People's Republic of China and internationally. Its general hospital services include medical and surgical wards, and medical checkup and examination. As of March 31, 2022, the company operated two general hospitals in Putain and Beijing. It also provides medical investment and hospital management services; and hospital consulting management. The company was formerly known as Hua Xia Healthcare Holdings Limited and changed its name to Good Fellow Healthcare Holdings Limited in February 2019. The company was incorporated in 2001 and is headquartered in Central, Hong Kong. Good Fellow Healthcare Holdings Limited is a subsidiary of Solar Star Global Limited.

How the Company Makes Money

null

Good Fellow Healthcare Holdings Limited Financial Statement Overview

Summary

Financial performance is weak, driven by persistent net losses (FY2020–FY2025) and severe revenue contraction (about 144.6M in FY2020 to ~16.1M in FY2025). The balance sheet is a major risk with negative shareholders’ equity in FY2025 (~-6.5M). The main offset is improved cash generation in FY2025 with positive operating and free cash flow (~2.6M), but cash-flow history is volatile and profitability remains unproven.

Income Statement

Profitability remains weak: the company has posted net losses every year from 2020–2025, with FY2025 net margin at roughly -63% despite a solid gross margin (~52%). Revenue has also contracted sharply over time (down from ~144.6M in FY2020 to ~16.1M in FY2025), including a steep decline in FY2025 (about -18%). While FY2025 shows positive EBITDA margin (~12%) versus deeply negative levels in FY2024, operating losses are still sizable, indicating the cost structure remains too heavy for the current revenue base.

Balance Sheet

The balance sheet has deteriorated materially, highlighted by negative shareholders’ equity in FY2025 (about -6.5M), which is a major financial risk signal. Debt is moderate in absolute terms (~10.5M in FY2025), but with equity negative the capital structure is strained and financial flexibility is limited. The company previously had a healthier equity cushion (positive equity through FY2024 and earlier), so the recent shift suggests meaningful cumulative losses or balance sheet pressure.

Cash Flow

Cash flow shows some near-term improvement: FY2025 operating cash flow (~2.6M) and free cash flow (~2.6M) are positive, a sharp turnaround from the large cash outflows in FY2024 (free cash flow about -15.3M). However, cash generation has been volatile over the period (multiple years of negative operating cash flow), and the recent free-cash-flow growth rate is deeply negative, reflecting instability and a low-quality trend rather than consistent compounding.

Breakdown	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2021
Income Statement
Total Revenue	16.12M	38.96M	55.35M	54.24M	53.89M
Gross Profit	8.37M	18.67M	27.01M	26.66M	26.45M
EBITDA	1.86M	-10.12M	1.83M	4.38M	-23.55M
Net Income	-10.13M	-17.11M	-5.88M	-12.69M	-30.18M
Balance Sheet
Total Assets	9.83M	29.15M	41.70M	60.45M	191.38M
Cash, Cash Equivalents and Short-Term Investments	4.14M	3.88M	18.36M	25.15M	44.89M
Total Debt	10.53M	12.23M	4.49M	7.36M	29.73M
Total Liabilities	16.59M	27.74M	22.32M	34.08M	158.48M
Stockholders Equity	-6.51M	4.36M	22.19M	29.59M	40.23M
Cash Flow
Free Cash Flow	2.58M	-15.35M	-3.84M	-24.51M	-21.21M
Operating Cash Flow	2.62M	-854.00K	-1.32M	-22.93M	1.25M
Investing Cash Flow	-1.57M	-14.46M	5.74M	2.19M	-24.28M
Financing Cash Flow	1.06M	4.36M	-2.75M	-5.61M	4.83M

Good Fellow Healthcare Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.19
• 50DMA: Negative
• 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:8143, the sentiment is Neutral. The current price of 0.19 is above the 20-day moving average (MA) of 0.11, above the 50-day MA of 0.14, and above the 200-day MA of 0.15, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 48.17 is Neutral, neither overbought nor oversold. The STOCH value of 40.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:8143.

Good Fellow Healthcare Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2293	64 Neutral	HK$175.07M	5.31	6.92%	8.00%	-21.50%	-43.25%
8357	61 Neutral	HK$90.48M	-6.98	-10.44%	―	-11.68%	-71.01%
8307	58 Neutral	HK$67.45M	362.73	-19.93%	―	-2.91%	55.41%
8161	53 Neutral	HK$22.46M	-197.60	138.68%	―	-20.81%	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
8143	42 Neutral	HK$129.64M	-20.58	-573.79%	―	-30.45%	-734.38%
8437	41 Neutral	HK$19.65M	-2.29	26.12%	―	14.64%	-81.95%