Central China Management Company Limited (9982) AI Stock Analysis

• Market Cap: HK$599.17M
• Dividend Yield: N/A
• Average Volume (3M): 0.00
• Price to Earnings (P/E): 9.9
• Beta (1Y): 0.03
• Revenue Growth: 5.32%
• EPS Growth: 9.79%
• Country: HK
• Employees: 914
• Sector: Services
• Sector Strength: N/A
• Industry: Real Estate - Services
• EPS (TTM): <0.01
• Shares Outstanding: 3,865,617,000
• 10 Day Avg. Volume: 0
• 30 Day Avg. Volume: 0
• PEG Ratio: -0.09
• Price to Book (P/B): 0.15
• Price to Sales (P/S): 1.55
• P/FCF Ratio: 250.47
• 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: 61 Neutral
• Price Target: HK$0.17 ▲(52.73% Upside)

The score is primarily constrained by financial performance: despite a conservatively positioned balance sheet, 2024 cash flow weakness and reduced profitability versus prior years are key risks. Technicals are supportive but appear overextended, while valuation is moderate with limited dividend context.

Positive Factors

Leadership Strengthening

The appointment of experienced executives, including the CEO as an executive director, enhances governance and strategic execution, supporting long-term business stability and growth.

Balance Sheet Health

A strong balance sheet with low leverage provides financial flexibility and reduces refinancing risk, supporting long-term operational stability.

Revenue Growth Potential

Despite past declines, the recent revenue growth rebound suggests potential for recovery and expansion, indicating resilience in market positioning.

Negative Factors

Cash Flow Weakness

Deteriorating cash flow undermines earnings quality and financial flexibility, posing risks to sustaining operations and funding future growth.

Profitability Decline

Declining profitability indicates weaker efficiency in generating returns, challenging the company's ability to maintain competitive advantage.

Market Challenges

A sharp decline in contracted sales and project metrics reflects market difficulties, potentially hindering growth and market share expansion.

Central China Management Company Limited Business Overview & Revenue Model

Company Description

Central China Management Company Limited provides project management services for property development projects in China. The company was incorporated in 2020 and is headquartered in Zhengzhou, the People's Republic of China. Central China Management Company Limited operates as a subsidiary of Joy Bright Investments Limited.

How the Company Makes Money

Central China Management Company Limited generates revenue through multiple key streams. Primarily, the company earns income from real estate activities, including property development and leasing, which involves constructing residential and commercial properties and subsequently renting them out to tenants. Additionally, the firm engages in investment management services, where it earns fees based on assets under management and performance incentives. The company may also generate income through strategic partnerships and joint ventures that leverage its expertise in asset management and local market knowledge. Factors contributing to its earnings include the demand for real estate in its operational areas, effective management of its investment portfolio, and the ability to identify profitable opportunities in the infrastructure sector.

Central China Management Company Limited Financial Statement Overview

Summary

Central China Management Company Limited exhibits strong operational efficiency and profitability, with high EBIT and EBITDA margins. However, the company faces substantial risks due to a significant decline in revenue and cash flows from 2023 to 2024. The robust balance sheet with minimal leverage provides financial stability, but the challenges in revenue generation and cash flow conversion require strategic adjustments.

Income Statement

The company has experienced a notable decline in revenue from 2023 to 2024, with a sharp decrease of approximately 46%. While gross and net profit margins remain high at 100% and 25.8% for 2024, the significant drop in revenue is concerning. The EBIT and EBITDA margins are also high at 38.2% and 40.5% respectively, indicating strong operational efficiency. However, the declining revenue trend poses a risk to future growth.

Balance Sheet

The balance sheet is robust with a very low debt-to-equity ratio of 0.002, signifying minimal leverage and financial risk. The equity ratio is strong at 82.1%, indicating a stable financial structure with a high proportion of equity financing. Return on equity for 2024 is healthy at 2.6%, although lower than in previous years, reflecting the impact of declining net income.

Cash Flow

Operating cash flow has decreased significantly from 2023 to 2024, with a drastic decline in free cash flow as well. The free cash flow to net income ratio is low, indicating challenges in converting income into cash. However, the company has effectively managed investing and financing activities, maintaining a positive cash flow balance. This decline in free cash flow growth highlights potential liquidity risks.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	245.40M	252.03M	468.38M	605.68M	1.30B	1.15B
Gross Profit	245.40M	252.03M	468.38M	605.68M	1.30B	1.15B
EBITDA	72.22M	102.07M	191.59M	422.60M	1.03B	925.64M
Net Income	58.69M	65.13M	198.57M	303.48M	770.15M	681.47M
Balance Sheet
Total Assets	3.14B	3.09B	3.13B	2.69B	2.90B	1.68B
Cash, Cash Equivalents and Short-Term Investments	2.57B	2.48B	1.85B	1.57B	1.98B	384.60M
Total Debt	3.61M	4.73M	7.85M	3.10M	6.07M	12.35M
Total Liabilities	549.23M	543.10M	706.36M	515.50M	575.40M	667.66M
Stockholders Equity	2.58B	2.54B	2.42B	2.18B	2.32B	1.01B
Cash Flow
Free Cash Flow	53.12M	1.56M	372.16M	125.92M	510.53M	610.94M
Operating Cash Flow	53.17M	1.60M	372.21M	134.50M	523.49M	614.72M
Investing Cash Flow	770.97M	725.63M	-256.59M	-96.90M	537.68M	-373.72M
Financing Cash Flow	-83.79M	-82.43M	153.22M	-452.39M	529.98M	-201.78M

Central China Management Company Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.11
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9982, the sentiment is Positive. The current price of 0.11 is below the 20-day moving average (MA) of 0.14, below the 50-day MA of 0.12, and below the 200-day MA of 0.11, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 83.14 is Negative, neither overbought nor oversold. The STOCH value of 36.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:9982.

Central China Management Company Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2165	74 Outperform	HK$522.80M	6.68	11.46%	―	5.01%	-31.83%
9983	66 Neutral	HK$675.62M	2.84	11.48%	18.38%	-2.61%	―
3662	63 Neutral	HK$305.02M	7.16	3.28%	6.60%	-14.43%	-77.55%
9982	61 Neutral	HK$599.17M	9.87	2.19%	―	5.32%	9.79%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
2107	51 Neutral	HK$250.89M	-11.78	-4.06%	15.45%	6.30%	-128.34%

Central China Management Company Limited Corporate Events

Central China Management Bolsters Board With New Executive Director Appointments

Central China Management Company Limited has strengthened its leadership team by appointing Wang Jun as an executive director and authorised representative, and Liu Lin as an executive director and member of the nomination committee, effective 29 December 2025. Wang, currently the company’s chief executive officer and a long-serving executive within the broader Central China Real Estate Group, will continue to oversee project management operations outside Henan Province, signalling the company’s focus on scaling its asset-light business and reinforcing governance and regulatory compliance under Hong Kong listing rules.

The most recent analyst rating on (HK:9982) stock is a Buy with a HK$0.18 price target. To see the full list of analyst forecasts on Central China Management Company Limited stock, see the HK:9982 Stock Forecast page.

Central China Management Revamps Board and Committee Roles

Central China Management Company Limited has updated the composition of its board of directors and board committees with effect from 29 December 2025, confirming Wu Po Sum as chairman and non-executive director, Wang Jun and Liu Lin as executive directors, and Xu Ying and Liu Dianchen as independent non-executive directors. The company also outlined the latest allocation of board committee roles, appointing Liu Dianchen as chairman of the audit committee, Wu Po Sum as chairman of the nomination committee, and assigning Xu Ying to all three committees, changes that clarify governance responsibilities and may strengthen oversight and decision-making structures for shareholders and other stakeholders.

The most recent analyst rating on (HK:9982) stock is a Buy with a HK$0.18 price target. To see the full list of analyst forecasts on Central China Management Company Limited stock, see the HK:9982 Stock Forecast page.

Central China Management Executive Director Resigns, Triggering Temporary Listing Rules Shortfall

Central China Management Company Limited has announced that executive director and authorised representative Hu Bing will resign from both roles with effect from 25 December 2025 for family reasons, with the board noting there is no disagreement or issues requiring shareholder attention and expressing gratitude for his service. His departure leaves the company temporarily non-compliant with Hong Kong listing rules that require two authorised representatives, prompting the board to search for suitable candidates to fill the vacancies as soon as practicable and restore full regulatory compliance, a move closely watched by investors given its governance and listing-status implications.

The most recent analyst rating on (HK:9982) stock is a Buy with a HK$0.18 price target. To see the full list of analyst forecasts on Central China Management Company Limited stock, see the HK:9982 Stock Forecast page.

Central China Management Updates Board and Committee Structure

Central China Management Company Limited has updated the composition of its board of directors, effective 25 December 2025, with Mr. Wu Po Sum serving as chairman and non-executive director, alongside independent non-executive directors Mr. Xu Ying and Mr. Liu Dianchen. The company has also confirmed the membership of its three key board committees: Mr. Wu chairs the Nomination Committee, Mr. Liu chairs the Audit Committee, and Mr. Xu serves as a member across the Audit, Remuneration and Nomination Committees, reflecting a streamlined governance structure and clarified oversight roles for audit, remuneration and nominations.

The most recent analyst rating on (HK:9982) stock is a Buy with a HK$0.18 price target. To see the full list of analyst forecasts on Central China Management Company Limited stock, see the HK:9982 Stock Forecast page.

Central China Management Cleared to Resume Trading After Internal Control Review

Central China Management Company Limited announced that it has completed an internal control review and fulfilled all resumption guidance conditions imposed by the Hong Kong Stock Exchange, paving the way for the resumption of trading in its shares following a prolonged suspension. Trading had been halted since April 2024 after the company failed to publish its 2023 annual results on time amid unresolved audit issues that culminated in the resignation of former auditor KPMG, which had sought extensive documentation and verification regarding RMB750 million of loans to various real estate companies. The company’s progress in resolving these audit and governance concerns, changing auditors, and addressing compliance gaps in board composition and company secretarial functions is expected to restore regulatory compliance and improve investor confidence, although it also underscores the operational and oversight challenges the group has faced in a stressed Chinese real estate environment.

Central China Management Reports Decline in Contracted Sales and Expansion Efforts

Central China Management Company Limited reported a significant decrease in its newly contracted gross floor area for the eleven months ending November 2025, down 61.8% compared to the previous year. Despite having 246 projects under management, the company faced a decline in contracted sales by 21.4% year-on-year, reflecting challenges in the real estate market. The company is expanding its operations outside Henan, managing 34 projects across nine other provinces, which now account for 12.6% of its total managed area.

Central China Management Faces Compliance Challenges Amid Key Resignation

Central China Management Company Limited has announced the resignation of Ms. Ho Wing Nga from her roles as company secretary and authorized representative, effective December 1, 2025. This resignation has led to non-compliance with certain listing rules on the Hong Kong Stock Exchange, as the company currently lacks a company secretary and two authorized representatives. Consequently, the company is actively seeking suitable candidates to fill these vacancies to ensure compliance. Additionally, trading in the company’s shares has been suspended since April 2, 2024, and will remain so until further notice, prompting shareholders and investors to exercise caution.

Central China Management Announces New Hong Kong Office and Continued Trading Suspension

Central China Management Company Limited has announced a change in its principal place of business in Hong Kong to a new location in Mong Kok, Kowloon, effective from November 26, 2025. Additionally, the company has stated that trading of its shares on the Hong Kong Stock Exchange remains suspended since April 2, 2024, with no indication of when it will resume, urging shareholders and potential investors to exercise caution.

Central China Management Faces Compliance Challenges After Director Resignation

Central China Management Company Limited announced the resignation of Ms. Yan Yingchun as an independent non-executive director due to personal reasons, effective November 24, 2025. Her departure has resulted in non-compliance with several Hong Kong Stock Exchange listing rules regarding board and committee compositions, including the requirement for a gender-diverse board. The company is actively seeking suitable candidates to fill these vacancies and aims to rectify these compliance issues within three months.

Central China Management Company Limited Updates Board of Directors

Central China Management Company Limited has announced an update to its board of directors and their roles, effective November 24, 2025. This update includes the appointment of Mr. Wu Po Sum as Chairman and non-executive Director, Mr. Hu Bing as Executive Director, and Mr. Xu Ying and Mr. Liu Dianchen as Independent non-executive Directors. The announcement also details the composition of the company’s three board committees, which could impact the company’s governance and strategic direction.

Central China Management Reports Decline in 2025 Operating Metrics

Central China Management Company Limited reported a significant decline in its operating metrics for the ten months ending October 2025, with a 52.3% decrease in newly contracted gross floor area compared to the previous year. The company managed 247 projects with a total gross floor area of over 29 million square meters, but faced a 19.7% drop in contracted sales, indicating challenges in maintaining growth and expansion outside its primary market of Henan province.

Central China Management Reports Decline in Contracted Sales and GFA

Central China Management Company Limited reported a decrease in newly contracted gross floor area (GFA) by 44.5% for the first nine months of 2025 compared to the same period in 2024, with 13 new projects and a total of 462 contracted projects under management. Despite a 20% year-on-year decrease in contracted sales, the company saw a slight increase in the average selling price per square meter, reflecting a challenging market environment but potential pricing power.