Oriental Payment Group Holdings Limited (8613) AI Stock Analysis

• Market Cap: HK$84.82M
• Dividend Yield: N/A
• Average Volume (3M): 172.72K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.65
• Revenue Growth: -43.10%
• EPS Growth: -5.98%
• Country: HK
• Employees: 20
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Infrastructure
• EPS (TTM): -0.01
• Shares Outstanding: 1,927,716,700
• 10 Day Avg. Volume: 61,146
• 30 Day Avg. Volume: 172,715
• PEG Ratio: 0.89
• Price to Book (P/B): -49.49
• Price to Sales (P/S): 7.52
• P/FCF Ratio: -34.08
• 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: 40 Underperform
• Price Target: HK$0.04 ▼(-16.00% Downside)

The score is held down primarily by very weak financial performance (declining revenue, heavy losses, negative equity, and deteriorating free cash flow). Technicals also remain bearish with the stock below major moving averages and weak momentum indicators. Valuation provides limited support because the negative P/E is driven by losses and no dividend yield is available.

Positive Factors

Transaction-fee business model

A transaction-fee model creates recurring, volume-linked revenue that scales with client payments activity and platform adoption. Over months this underpins predictable cash inflows and customer stickiness, enabling leverage of fixed-cost infrastructure as volumes recover or grow.

Core gross margin

A gross margin near 33% indicates underlying unit economics that can support profitability if operating costs are controlled. This core margin provides room for investments in product and compliance while preserving the potential to restore operating profits as revenue stabilizes.

Structural digital payments exposure

Operating in online, mobile and cross-border payments aligns the company with durable global cashless trends and demand for fintech rails. Strategic alliances and an existing client base give distribution channels that can sustain revenue opportunity over the medium term as digital transactions expand.

Negative Factors

Revenue decline and deep losses

Declining revenue combined with nearly -97% net margin shows structural profitability failure. If top-line contraction persists, fixed costs and loss absorption will hinder recovery, limit reinvestment capacity, and require material operational change or capital support to restore sustainable earnings.

Negative equity and high leverage

Negative equity and a debt-to-equity ratio of -5.01 signal solvency weakness and constrain financing options. This structural balance-sheet shortfall raises refinancing risk, increases cost of capital, and limits strategic flexibility, impairing the firm's ability to execute multi‑month recovery plans.

Severe free cash flow deterioration

A >400% decline in free cash flow growth reflects an inability to convert earnings into sustainable cash, forcing reliance on external funding. Over months this threatens operational continuity, restricts investment in product or compliance, and amplifies refinancing and liquidity risks.

Oriental Payment Group Holdings Limited Business Overview & Revenue Model

Company Description

Oriental Payment Group Holdings Limited, a merchant acquirer, provides payment processing services to various merchants visited by Chinese tourists in Thailand. The company enables its merchants to accept various cross-border electronic payment methods, including credit cards, debit cards, QR codes, NFC, and other alternative payment technologies. It also offers marketing and administrative; and environmental, social, and governance reporting and consultancy services. The company was founded in 2004 and is headquartered in Bangkok, Thailand.

How the Company Makes Money

The company generates revenue through various streams, primarily by charging transaction fees for processing payments on its platforms. These fees are typically a percentage of the transaction value or a flat fee per transaction, depending on the service agreement with clients. Additionally, Oriental Payment Group may earn income from subscription services for premium features offered to businesses, as well as through partnerships with financial institutions and e-commerce platforms that enhance its service offerings. The company's strategic alliances and client base in the growing digital payment market significantly contribute to its earnings, especially as global trends shift towards cashless transactions.

Oriental Payment Group Holdings Limited Financial Statement Overview

Summary

Very weak fundamentals: revenue declined (-13.61%), profitability is severely negative (net margin -97.41% with negative EBIT/EBITDA margins), the balance sheet shows negative equity and high leverage (debt-to-equity -5.01), and cash generation is poor with severe free cash flow deterioration (-420.29%).

Income Statement

The company has experienced a significant decline in revenue over the past year, with a negative revenue growth rate of -13.61%. Gross profit margin stands at 32.93%, which is relatively stable, but the net profit margin is deeply negative at -97.41%, indicating substantial losses. EBIT and EBITDA margins are also negative, reflecting operational inefficiencies and high costs relative to revenue.

Balance Sheet

The balance sheet shows a concerning debt-to-equity ratio of -5.01, indicating negative equity and high leverage. Return on equity is positive at 6.41%, but this is due to negative equity. The equity ratio is not calculable due to negative equity, suggesting financial instability and potential solvency issues.

Cash Flow

The company has a negative free cash flow growth rate of -420.29%, highlighting severe cash flow challenges. Operating cash flow to net income ratio is negative, indicating that the company is not generating sufficient cash from operations to cover its losses. The free cash flow to net income ratio is positive, but this is due to negative net income, which is not a favorable indicator.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	30.46M	35.12M	31.72M	8.38M	3.89M	12.37M
Gross Profit	4.45M	11.57M	9.21M	644.00K	289.00K	4.47M
EBITDA	-22.18M	-15.25M	-19.20M	-20.25M	-26.20M	-17.61M
Net Income	-46.49M	-34.21M	-37.16M	-32.23M	-38.51M	-30.66M
Balance Sheet
Total Assets	50.46M	57.99M	112.69M	111.46M	82.00M	82.67M
Cash, Cash Equivalents and Short-Term Investments	1.09M	3.96M	4.43M	11.68M	31.41M	29.24M
Total Debt	31.56M	35.77M	18.19M	36.17M	33.90M	29.13M
Total Liabilities	74.41M	63.33M	89.37M	59.11M	58.46M	35.22M
Stockholders Equity	-23.95M	-5.34M	23.32M	52.35M	23.54M	47.45M
Cash Flow
Free Cash Flow	-10.20M	-7.75M	2.44M	-32.70M	-26.28M	-19.00M
Operating Cash Flow	-5.14M	-3.69M	4.27M	-29.35M	-13.13M	-18.23M
Investing Cash Flow	-5.15M	-4.06M	-2.01M	-3.35M	-13.15M	-776.00K
Financing Cash Flow	10.78M	7.07M	-8.79M	12.77M	29.12M	10.16M

Oriental Payment Group Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.05
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:8613, the sentiment is Negative. The current price of 0.05 is above the 20-day moving average (MA) of 0.05, below the 50-day MA of 0.05, and below the 200-day MA of 0.08, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 13.36 is Positive, neither overbought nor oversold. The STOCH value of -15.38 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:8613.

Oriental Payment Group Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
8017	69 Neutral	HK$1.04B	8.47	39.26%	―	146.18%	1617.05%
8062	63 Neutral	HK$96.48M	-75.77	-0.93%	8.40%	-29.38%	-104.21%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
3315	61 Neutral	HK$654.08M	14.07	2.23%	6.63%	-16.76%	-50.21%
9923	58 Neutral	HK$3.69B	31.91	3.35%	―	-9.32%	477.27%
0818	54 Neutral	HK$1.39B	9.73	1.98%	―	-17.23%	-6.20%
8613	40 Underperform	HK$84.82M	-2.26	―	―	-43.10%	-5.98%