Highest Performances Holdings (MAAS) AI Stock Analysis

• Market Cap: $1.70B
• Dividend Yield: N/A
• Average Volume (3M): 11.54K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.45
• Revenue Growth: 2195.36%
• EPS Growth: -35.59%
• Country: US
• Employees: 230
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): N/A
• Shares Outstanding: 313,147,370
• 10 Day Avg. Volume: 8,156
• 30 Day Avg. Volume: 11,539
• PEG Ratio: -0.02
• Price to Book (P/B): 2.79
• Price to Sales (P/S): 3.03
• P/FCF Ratio: 67.12
• 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: 49 Neutral
• Price Target: ―

The overall score reflects a company in a growth phase with challenges in profitability and market momentum. Strong revenue growth is overshadowed by consistent losses and operational inefficiencies. Technical analysis suggests a lack of clear upward momentum, and valuation metrics highlight the company's current unprofitability.

Positive Factors

Revenue Growth

Strong revenue growth indicates successful expansion and market penetration, which can lead to increased market share and long-term profitability.

Financial Stability

A strong equity base and moderate debt-to-equity ratio provide financial stability, allowing the company to weather economic fluctuations and invest in growth opportunities.

Improved Cash Flow Management

Positive cash flow indicates better cash management, enhancing the company's ability to fund operations, reduce debt, and invest in future growth.

Negative Factors

Profitability Challenges

Ongoing losses and negative margins suggest operational inefficiencies or high costs, which could hinder long-term financial health and shareholder returns.

Operational Inefficiencies

Inefficiencies in operations can lead to sustained losses, reducing competitiveness and limiting the company's ability to capitalize on revenue growth.

Low Cash Conversion

Challenges in converting earnings into cash flow can strain liquidity, affecting the company's ability to reinvest in growth and manage liabilities effectively.

Highest Performances Holdings Business Overview & Revenue Model

Company Description

Highest Performances Holdings Inc., formerly known as Puyi Inc., is a China-based financial technology company established in 2010. It offers a range of services including wealth management, insurance consulting, trust consulting, and asset management. The company operates through three main segments: Insurance Agency, Claims Adjusting, and Wealth Management.

How the Company Makes Money

HPH generates revenue primarily through the acquisition and management of high-growth companies, which contribute to the overall profitability of the holding company. The company earns money through dividends, interest income, and capital gains from its investments. Additionally, HPH may engage in strategic partnerships and joint ventures to enhance its portfolio value. By focusing on sectors with significant growth potential, HPH aims to achieve long-term capital appreciation and deliver returns to its shareholders.

Highest Performances Holdings Financial Statement Overview

Summary

Highest Performances Holdings is experiencing revenue growth but continues to face challenges with profitability and efficient cash conversion. The balance sheet shows financial stability with low leverage, yet consistent losses are detrimental to overall financial health. Improvement in cash flow management is noted, but operational inefficiencies need addressing to improve profitability.

Income Statement

The company has experienced a significant increase in revenue over the past year, with a dramatic rise in total revenue from 2023 to 2024. However, profitability remains a challenge as evidenced by negative EBIT and net income margins. Despite growth in revenue, the company continues to incur losses, indicating inefficiencies in operations or high operational costs affecting the bottom line.

Balance Sheet

The balance sheet reveals a strong equity base with a moderate debt-to-equity ratio, indicating financial stability and a conservative leverage position. However, the return on equity is negative due to consistent net losses, raising concerns about the company’s ability to generate returns for shareholders. The equity ratio is healthy, showing a reliance on equity financing over debt.

Cash Flow

The company has shown improvement in operating cash flow, moving from negative to positive in the latest year, which is a positive sign. Free cash flow has also turned positive, suggesting better cash management. However, the operating cash flow to net income ratio is low, reflecting challenges in converting earnings into cash flow.

Breakdown	TTM	Dec 2024	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Income Statement
Total Revenue	2.09B	1.19B	114.44M	188.74M	191.20M	129.48M
Gross Profit	818.71M	469.71M	94.16M	133.68M	147.16M	97.72M
EBITDA	373.85M	22.37M	-52.75M	-62.63M	-54.85M	-39.33M
Net Income	-289.67M	-289.67M	-43.58M	-60.67M	-46.37M	-32.90M
Balance Sheet
Total Assets	4.28B	4.28B	264.54M	463.94M	467.90M	432.71M
Cash, Cash Equivalents and Short-Term Investments	879.61M	879.61M	164.47M	199.26M	260.59M	289.92M
Total Debt	215.56M	215.56M	14.47M	35.15M	31.02M	22.11M
Total Liabilities	1.64B	1.64B	47.51M	203.88M	147.60M	62.23M
Stockholders Equity	1.29B	1.29B	217.03M	260.05M	320.30M	367.96M
Cash Flow
Free Cash Flow	0.00	53.43M	-27.24M	-61.75M	-11.87M	-92.37M
Operating Cash Flow	0.00	57.73M	-25.36M	-56.16M	-2.83M	-88.75M
Investing Cash Flow	0.00	234.16M	-4.99M	-10.60M	47.99M	-53.08M
Financing Cash Flow	0.00	-86.84M	0.00	0.00	0.00	0.00

Highest Performances Holdings Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 5.30
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MAAS, the sentiment is Neutral. The current price of 5.3 is above the 20-day moving average (MA) of 4.98, above the 50-day MA of 4.33, and below the 200-day MA of 136.98, indicating a neutral trend. The MACD of 0.33 indicates Positive momentum. The RSI at 59.08 is Neutral, neither overbought nor oversold. The STOCH value of 47.93 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for MAAS.

Highest Performances Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HNNA	74 Outperform	$78.25M	7.79	10.54%	5.82%	19.87%	38.04%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
BCG	55 Neutral	$44.49M	67.70	5.87%	―	-37.08%	―
OFS	54 Neutral	$66.19M	20.49	2.25%	25.87%	-14.76%	―
MAAS	49 Neutral	$1.70B	-0.01	―	―	2195.36%	-35.59%
GECC	45 Neutral	$98.69M	-12.90	-5.98%	22.43%	47.01%	-179.46%
BENF	42 Neutral	$72.95M	-0.06	―	―	-33.98%	94.83%

Highest Performances Holdings Corporate Events

Maase Inc. Names Jiaxing Shi as New Chief Financial Officer After Year-End Resignation

On December 31, 2025, Maase Inc. announced that Chief Financial Officer Yuanfen Yang resigned effective the same day, with the company stating her departure did not stem from any disagreement over operations, policies or practices. The board simultaneously appointed 35-year-old finance professional Jiaxing Shi as the new CFO, formalizing her role through a standard executive employment agreement; Shi brings more than a decade of experience in investment operations, audit and financial reporting from roles at YD Network Technology, UHY LLP, Marcum LLP and Aurora Mobile, a background that is expected to support Maase’s financial governance and investor-facing functions and provide continuity in the company’s senior leadership.

Maase Inc. to Acquire Premium Tea Producer Oriental Grove for US$62.4 Million

On December 19, 2025, Maase Inc. announced it had signed a transaction agreement to acquire all issued and outstanding equity of British Virgin Islands-based Oriental Grove Ltd. for approximately US$62.4 million, payable through 34,911,410 newly issued Class A ordinary shares priced at US$1.50 each and a deferred cash payment of US$10 million within 365 days after closing. Expected to close in January 2026 subject to customary conditions, the deal will make Oriental Grove a wholly owned subsidiary of Maase and imposes a 60‑month lock-up on the sellers, while giving Maase control of a business focused on premium tea products with an inventory of about 2,000 metric tons of high-grade tea, bolstering its strategic push into health and wellness and adding tangible, long-term assets that support its evolving product ecosystem.

Maase Inc. Appoints New Chairperson to Drive Green Growth

On November 28, 2025, Maase Inc. announced the resignation of Ms. Hong Suong Nguyen as director and chairperson of the board, with Mr. Jingkai Li appointed as her successor. Mr. Li, who brings over a decade of experience in environmental protection and resource recycling, is expected to leverage his expertise to guide Maase’s strategic growth in the green economy sector, particularly in energy storage batteries and smart technology. His appointment is seen as a move to strengthen Maase’s position in the industry and drive future innovation and value creation for shareholders.

Maase Inc. Completes Acquisition of Real Prospect Limited, Expands into New Energy Sector

On October 28, 2025, Maase Inc. announced the completion of its strategic acquisition of Real Prospect Limited, marking its official entry into the new energy technologies and intelligent services sector. This acquisition allows Maase to fully own Qingdao Youdian New Energy Technology Co., Ltd., which specializes in electric vehicle services and residential energy solutions, and to hold a significant stake in Qingdao Huiju Lai Xi Intelligent Technology Co., Ltd., known for its innovations in unmanned systems. The integration of these companies is expected to enhance Maase’s capabilities in mobile charging, household energy storage, and smart mobility solutions, positioning the company as a competitive player in the global market for intelligent and sustainable energy services.