Times Neighborhood Holdings Ltd. (9928) AI Stock Analysis

• Market Cap: HK$559.92M
• Dividend Yield: 6.96%
• Average Volume (3M): 613.34K
• Price to Earnings (P/E): 109.6
• Beta (1Y): 1.03
• Revenue Growth: -5.18%
• EPS Growth: N/A
• Country: HK
• Employees: 4,673
• Sector: Real Estate
• Sector Strength: 60
• Industry: Real Estate - Services
• EPS (TTM): -0.04
• Shares Outstanding: 985,672,700
• 10 Day Avg. Volume: 665,400
• 30 Day Avg. Volume: 613,341
• PEG Ratio: -1.20
• Price to Book (P/B): 0.40
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 12.98
• 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: HK$0.50
• Price Target Upside: -12.28% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 55 Neutral
• Price Target: HK$0.50 ▼(-12.28%Downside)

The overall stock score of 55 reflects a challenging financial performance with declining revenue and profitability, compounded by cash flow concerns. While the technical analysis shows positive short-term trends, overbought signals suggest possible corrections. The high P/E ratio indicates overvaluation, although a strong dividend yield provides some support. Improvements in operational efficiency and valuation metrics are crucial for a more favorable outlook.

Times Neighborhood Holdings Ltd. Business Overview & Revenue Model

Company Description

Times Neighborhood Holdings Limited provides property management and other relevant services primarily to property developers, property owners and residents, and governmental authorities in the People's Republic of China. The company offers property management services for residential and non-residential properties. The company also provides value-added services to non-property owners comprising sales assistance; construction site services, including consultancy and security services; housing agency services for residences, shops, and parking spaces; pre-delivery cleaning services; and urban redevelopment project services. In addition, it offers community value-added services, including public space leasing and parking space management; and resident services, such as bag check, home renovation, asset management, community group buying, and housekeeping services. Further, the company provides sale, installation, repair, and maintenance services for elevators; and intelligent engineering and municipal sanitation services. The company was founded in 1998 and is headquartered in Guangzhou, the People's Republic of China.

How the Company Makes Money

Times Neighborhood Holdings Ltd. generates revenue through its property management services. The primary revenue streams include fees from residential and commercial property management contracts, which involve maintaining and managing various properties on behalf of property owners. Additionally, the company earns income from providing value-added services, such as community living services, which include housekeeping, maintenance, and security, as well as property agent services like leasing and sales assistance. Strategic partnerships with real estate developers and property owners also contribute to its earnings, allowing the company to expand its service offerings and client base.

Times Neighborhood Holdings Ltd. Financial Statement Overview

Summary

Times Neighborhood Holdings Ltd. presents a mixed financial picture. The balance sheet indicates strong equity and low leverage, which are financial strengths. However, the income statement shows declining revenue and profitability, with persistent challenges in maintaining positive net income. Cash flow issues further complicate the financial outlook, suggesting a need for strategic improvements in operations and cost management.

Income Statement

The company's revenue and profitability metrics have declined over the years, with a notable drop in revenue from 2021 to 2024. The gross profit margin has decreased, indicating potential cost management issues or increased competition. Net profit margin has been poor, with negative net income in recent years, signifying challenges in achieving profitability. However, there's a slight improvement in net income in 2024, which could indicate a potential turnaround.

Balance Sheet

The company maintains a strong equity position with a consistently high equity ratio, reflecting financial stability. The debt-to-equity ratio is low, indicating conservative leverage and minimal dependence on debt financing. However, a declining total assets trend could be a concern for future growth and investment capabilities.

Cash Flow

The cash flow situation is mixed, with fluctuating free cash flow and operating cash flow over the years. The free cash flow has shown inconsistency, raising concerns about cash generation efficiency. The lack of significant positive operating cash flow in 2024 points to potential operational inefficiencies or challenges in cash management.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.39B	2.47B	2.61B	2.72B	1.76B
Gross Profit	487.78M	515.71M	555.89M	742.06M	531.05M
EBITDA	101.73M	-93.97M	-171.48M	482.38M	319.91M
Net Income	4.70M	-201.76M	-213.63M	308.00M	232.61M
Balance Sheet
Total Assets	2.59B	2.60B	2.93B	3.27B	2.65B
Cash, Cash Equivalents and Short-Term Investments	1.07B	941.37M	810.36M	814.33M	1.12B
Total Debt	10.12M	8.64M	14.21M	22.33M	22.35M
Total Liabilities	1.15B	1.14B	1.24B	1.34B	887.25M
Stockholders Equity	1.33B	1.35B	1.57B	1.82B	1.72B
Cash Flow
Free Cash Flow	173.09M	123.36M	61.92M	33.43M	68.78M
Operating Cash Flow	193.43M	138.26M	73.18M	54.68M	87.41M
Investing Cash Flow	-7.41M	4.32M	-19.41M	-176.40M	-632.30M
Financing Cash Flow	-33.02M	-33.75M	-58.67M	-101.92M	646.91M

Times Neighborhood Holdings Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.57
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9928, the sentiment is Positive. The current price of 0.57 is above the 20-day moving average (MA) of 0.57, above the 50-day MA of 0.52, and above the 200-day MA of 0.46, indicating a bullish trend. The MACD of 0.01 indicates Positive momentum. The RSI at 59.84 is Neutral, neither overbought nor oversold. The STOCH value of 66.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:9928.

Times Neighborhood Holdings Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
3662	75 Outperform	HK$413.96M	3.97	8.37%	9.35%	-14.98%	-39.71%
2376	72 Outperform	HK$440.02M	9.24	8.33%	3.49%	-3.67%	―
2215	67 Neutral	HK$826.09M	19.91	5.41%	―	-4.12%	-38.34%
Sector *	63 Neutral	$6.86B	17.00	-2.14%	7.13%	4.56%	-27.45%
2107	57 Neutral	HK$385.52M	5.21	-1.62%	10.00%	7.48%	-118.08%
9928	55 Neutral	HK$559.92M	109.62	0.35%	6.96%	-5.18%	―
0021	55 Neutral	HK$536.66M	31.40	2.08%	―	450.21%	―

Times Neighborhood Holdings Ltd. Corporate Events

Times Neighborhood Holdings Appoints New Auditors Following EY’s Resignation

Times Neighborhood Holdings Limited has announced a change in its auditors due to an inability to agree on the audit fee with Ernst & Young (EY), leading to EY’s resignation. Grant Thornton Hong Kong Limited has been appointed as the new auditors, with the Board and Audit Committee confident in their capabilities and independence, ensuring continued audit quality and alignment with shareholder interests.

Times Neighborhood Holdings Reports Unanimous Approval of AGM Resolutions

Times Neighborhood Holdings Limited, a company incorporated in the Cayman Islands, conducted its Annual General Meeting on May 29, 2025, where all proposed resolutions were passed unanimously. The resolutions included the adoption of financial statements, declaration of a final dividend, re-election of directors, re-appointment of the auditor, and granting of general mandates to the directors for share allotment and buy-back. The successful passing of these resolutions signifies strong shareholder support and positions the company for continued operational stability and strategic flexibility.

Times Neighborhood Holdings Updates Final Dividend for 2024

Times Neighborhood Holdings Limited has announced an update to its final cash dividend for the year ended December 31, 2024. The company has declared a final ordinary dividend of RMB 0.036 per share, which will be paid in Hong Kong dollars at a rate of HKD 0.039 per share, reflecting an exchange rate of RMB 1 to HKD 1.08978. The ex-dividend date is set for June 2, 2025, with the payment date scheduled for June 23, 2025. This update may influence investor sentiment and the company’s market positioning as it reflects the company’s financial performance and shareholder return strategy.