Linklogis Inc. Class B (HK:9959)
:9959
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Linklogis Inc. Class B
(9959)
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Rating:54Neutral
Price Target:
HK$2.50
▼(-13.49% Downside)
Action:Reiterated
Date:05/04/26
The score is primarily held back by ongoing losses and negative operating profitability despite a strong, low-debt balance sheet and improved (but volatile) cash generation. Technicals are moderately supportive with the stock above key moving averages, though momentum looks stretched. Valuation is less supportive due to a negative P/E and no dividend yield data.
Positive Factors
Low leverage and sizable equity
Very low leverage (debt-to-equity ~1–2% from 2022–2025) and sizable equity provide durable financial flexibility. This allows the firm to fund platform development, withstand cyclical stress, and pursue partnerships without relying on costly external debt, supporting long-term strategic options.
Negative Factors
Persistent net losses and negative EBIT
Consistent annual net losses and negative EBIT through 2023–2025 show core operations are not yet profitable. This structural profitability gap means capital is not earning returns, requiring sustained margin expansion or meaningful revenue growth to achieve durable profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage and sizable equity
Very low leverage (debt-to-equity ~1–2% from 2022–2025) and sizable equity provide durable financial flexibility. This allows the firm to fund platform development, withstand cyclical stress, and pursue partnerships without relying on costly external debt, supporting long-term strategic options.
Read all positive factors
Linklogis Inc. Class B (9959) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$4.87B
Dividend YieldN/A
Average Volume (3M)5.50M
Price to Earnings (P/E)―
Beta (1Y)1.98
Revenue Growth-4.47%
EPS Growth43.95%
CountryHK
Employees726
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)-0.22
Shares Outstanding1,886,295,200
10 Day Avg. Volume2,976,202
30 Day Avg. Volume5,498,882
Financial Highlights & Ratios
PEG Ratio0.20
Price to Book (P/B)0.56
Price to Sales (P/S)4.10
P/FCF Ratio35.44
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$3.12Price Target Upside7.87% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)<0.01
Revenue Forecast (FY)HK$1.31B
Linklogis Inc. Class B Business Overview & Revenue Model
Company Description
Linklogis Inc. Class B (9959) is a technology-driven supply chain finance company based in China, specializing in providing financial services and solutions that enhance supply chain efficiency. The company operates primarily in the fintech sector...
How the Company Makes Money
Linklogis makes money primarily by providing technology and platform-based services related to supply chain finance and trade digitalization. Its revenue is generated from fees earned for facilitating and enabling supply chain finance transactions...
Linklogis Inc. Class B Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
66
Positive
Cash Flow
55
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 957.31M | 1.03B | 867.76M | 924.20M | 1.20B |
| Gross Profit | 519.04M | 717.27M | 526.51M | 774.53M | 927.25M |
| EBITDA | -229.40M | -468.21M | -281.10M | 153.29M | -12.70B |
| Net Income | -427.53M | -835.38M | -441.24M | -13.46M | -12.99B |
Balance Sheet | |||||
| Total Assets | 8.00B | 8.59B | 9.73B | 11.92B | 11.81B |
| Cash, Cash Equivalents and Short-Term Investments | 5.24B | 5.55B | 6.14B | 8.87B | 9.53B |
| Total Debt | 115.67M | 115.86M | 124.42M | 59.45M | 1.26B |
| Total Liabilities | 1.06B | 760.31M | 617.73M | 1.97B | 2.09B |
| Stockholders Equity | 6.96B | 7.83B | 9.12B | 9.96B | 9.71B |
Cash Flow | |||||
| Free Cash Flow | 110.64M | 590.63M | -458.52M | 1.69B | -888.43M |
| Operating Cash Flow | 182.28M | 711.32M | -324.18M | 1.86B | -731.24M |
| Investing Cash Flow | -288.11M | -12.36M | -155.18M | -274.58M | -312.66M |
| Financing Cash Flow | -447.48M | -486.20M | -535.87M | -774.28M | 5.34B |
Linklogis Inc. Class B Technical Analysis
Neutral
2.89
Price Trends
2.07
Positive
2.23
Negative
2.46
Negative
Market Momentum
0.04
Negative
57.84
Neutral
83.33
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9959, the sentiment is Neutral. The current price of 2.89 is above the 20-day moving average (MA) of 2.03, above the 50-day MA of 2.07, and above the 200-day MA of 2.46, indicating a neutral trend. The MACD of 0.04 indicates Negative momentum. The RSI at 57.84 is Neutral, neither overbought nor oversold. The STOCH value of 83.33 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:9959.
Linklogis Inc. Class B Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | HK$6.38B | ― | 67.29% | ― | 135.34% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
55 Neutral | HK$2.83B | 14.85 | 3.10% | ― | 7.28% | 6.77% | |
54 Neutral | HK$4.87B | -9.17 | -6.10% | ― | -4.47% | 43.95% | |
49 Neutral | HK$1.18B | -2.93 | -1.65% | ― | -9.54% | -178.87% | |
48 Neutral | HK$2.96B | -9.50 | 7.02% | ― | -0.39% | -74.19% | |
42 Neutral | HK$67.47M | -1.62 | 402.84% | ― | -43.10% | -5.98% |
* Technology Sector Average
HK:9959
Linklogis Inc. Class B
2.23
1.06
90.60%
HK:6608
Bairong, Inc. Class B
6.36
-1.40
-18.04%
HK:9923
Yeahka Limited
6.02
-1.55
-20.48%
HK:0818
Hi Sun Technology (China) Limited
0.42
0.10
31.25%
HK:8613
Oriental Payment Group Holdings Limited
0.04
-0.10
-74.26%
HK:2598
Lianlian DigiTech Co., Ltd. Class H
5.44
-0.56
-9.33%
Linklogis Inc. Class B Corporate Events
Linklogis CFO Zhao Yu to Step Down, Vice President Huang Weibo to Lead Finance Transition
Apr 29, 2026
Linklogis Inc., a Hong Kong-listed, Cayman-incorporated financial technology group, focuses on capital market development and strong financial governance under a board led by chairman and executive director Song Qun. The company maintains a divers...
Linklogis posts record Q1 2026 growth and deepens supply chain finance footprint
Apr 24, 2026
Linklogis reported an exceptionally strong first quarter of 2026, achieving record growth rates in revenue and income since its listing, driven by robust transaction volume and continued innovation in core business segments. The company strengthen...
Linklogis Narrows 2025 Losses Amid Partner Growth Despite Revenue and Margin Pressure
Mar 31, 2026
Linklogis Inc. reported a slight 4.7% year-on-year decline in 2025 revenue to RMB 982.7 million, with its core Supply Chain Finance Technology Solutions business down 4.2% and Emerging Solutions down 13.3%. Despite the revenue drop, the company si...
Linklogis Declares Final Special Cash Dividend for 2025
Mar 31, 2026
Linklogis Inc. has declared a final special cash dividend of HKD 0.06 per share for the financial year ended December 31, 2025, payable in Hong Kong dollars. The distribution remains subject to shareholder approval, with the book closure period se...
Linklogis Sets March 31 Board Meeting and Earnings Call for 2025 Results
Mar 19, 2026
Linklogis Inc. has scheduled a board meeting for March 31, 2026 to review and approve the annual results of the company and its subsidiaries for the year ended December 31, 2025, along with considering a possible final dividend for shareholders. T...
Linklogis Signals Sharply Narrowed 2025 Loss as Impairments Ease and Revenue Rebounds
Mar 13, 2026
Linklogis Inc. expects to report a narrowed consolidated net loss attributable to equity shareholders of between RMB420 million and RMB450 million for 2025, compared with a loss of about RMB835 million a year earlier. The smaller loss reflects the...
Linklogis Clarifies Director Disclosure After Former Role at Firm Placed Under Judicial Management
Mar 11, 2026
Linklogis Inc. has issued an update regarding the disclosure obligations tied to its independent non-executive director, Mr. Tan Huay Lim, following developments at a separate company where he previously served on the board. The High Court of Sing...
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.