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Blue River Holdings Limited (0498) AI Stock Analysis
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Blue River Holdings Limited
(HKEX:0498)
The score is held back primarily by weak financial performance (declining revenue, persistently negative operating margins, and negative operating/free cash flow). Technicals also indicate bearish momentum with the stock below its 200-day average and a negative MACD. A very low P/E offers some valuation support, and the improved balance sheet reduces solvency risk, but it does not offset the lack of sustainable operating and cash-flow strength.
Blue River Holdings Limited (0498) vs. iShares MSCI Hong Kong ETF (EWH)
- Market Cap
- HKD 73.91M
- Dividend Yield
- ―
- Average Volume (3M)
- ―
- Price to Earnings (P/E)
- 1.4
- Beta (1Y)
- 1.39
- Revenue Growth
- -6.61%
- EPS Growth
- ―
- Country
- Hong Kong
- Employees
- 75
- Sector
- Industrials
- Sector Strength
- 63
- Industry
- Engineering & Construction
Blue River Holdings Limited Business Overview & Revenue Model
Company Description
Operating as an investment holding company, Blue River Holdings Limited delivers a broad spectrum of engineering and real estate services. Its business activities are structured across five distinct divisions: Engineering, Ports and Logistics, Proper...
Blue River Holdings Limited Financial Statement Overview
Summary
Balance sheet strength has improved significantly with leverage falling to very low levels (debt-to-equity ~0.02–0.03 in 2024–2026) and equity expanding, reducing solvency risk. However, fundamentals remain weak: revenue has been shrinking for several years, operating margins are deeply negative across 2021–2026, and operating/free cash flow are negative in 2023–2026. The sharp 2026 net profit rebound appears not supported by operating performance, raising earnings-quality concerns.
Income Statement
38NegativeBalance Sheet
71PositiveCash Flow
30Negative| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2024 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 35.02M | 35.02M | 61.97M | 39.01M | 77.09M | 133.81M |
| Gross Profit | 8.44M | 8.44M | 23.78M | 10.11M | 18.10M | 57.78M |
| EBITDA | -27.76M | -27.76M | -79.23M | -170.28M | -34.10M | -1.10B |
| Net Income | 51.31M | 51.31M | -265.26M | -177.38M | -605.41M | -1.63B |
Balance Sheet | ||||||
| Total Assets | 1.57B | 1.57B | 976.06M | 939.40M | 1.95B | 11.13B |
| Cash, Cash Equivalents and Short-Term Investments | 32.49M | 32.49M | 20.12M | 21.58M | 774.24M | 943.36M |
| Total Debt | 34.17M | 34.17M | 25.41M | 94.79M | 554.62M | 1.74B |
| Total Liabilities | 85.19M | 85.19M | 49.76M | 121.26M | 605.29M | 8.10B |
| Stockholders Equity | 1.49B | 1.49B | 933.33M | 825.18M | 1.35B | 2.16B |
Cash Flow | ||||||
| Free Cash Flow | 4.64M | -15.55M | -76.70M | -37.53M | -1.00B | 628.86M |
| Operating Cash Flow | 5.26M | -14.92M | -73.12M | -35.99M | -971.65M | 727.93M |
| Investing Cash Flow | 26.94M | 47.77M | -232.58M | -28.66M | -155.31M | 51.99M |
| Financing Cash Flow | -21.30M | -21.94M | -447.48M | 66.14M | 960.79M | -19.11M |
Blue River Holdings Limited Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0498, the sentiment is Neutral. The current price of 0.07 is above the 20-day moving average (MA) of 0.07, above the 50-day MA of 0.07, and below the 200-day MA of 0.10, indicating a neutral trend. The MACD of -0.00 indicates Negative momentum. The RSI at 27.90 is Positive, neither overbought nor oversold. The STOCH value of -33.33 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:0498.
Blue River Holdings Limited Peers Comparison
Overall Rating
HK:382274Outperform- HK:049849Neutral
HK:141346Neutral
HK:087142Neutral
HK:170739Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| HK:3822 | 74Outperform | HKD 91.98M | 1.63 | 10.81% | 10.96% | -5.20% | 420.03% |
| Sector * | 63Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
| HK:0498 | 49Neutral | HKD 73.91M | 1.44 | 4.35% | ― | -6.61% | ― |
| HK:1413 | 46Neutral | HKD 102.34M | -1.15 | -26.71% | ― | -51.29% | 43.87% |
| HK:0871 | 42Neutral | HKD 75.19M | -0.56 | -1098.54% | ― | -9.52% | 62.63% |
| HK:1707 | 39Underperform | HKD 70.56M | -4.47 | -9.34% | ― | ― | ― |
* Industrials Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| HK:0498 | Blue River Holdings Limited | 0.07 | -0.11 | -61.62% | |
| HK:0871 | China Dredging Environment Protection Holdings Limited | 0.05 | -0.01 | -16.67% | |
| HK:1413 | Kwong Luen Engineering Holdings Limited | 0.21 | -0.20 | -48.77% | |
| HK:1707 | Geotech Holdings Ltd. | 0.04 | -0.02 | -32.26% | |
| HK:1722 | Kin Pang Holdings Ltd. | 0.11 | -0.00 | -2.68% | |
| HK:3822 | Sam Woo Construction Group Ltd. | 1.09 | 0.34 | 46.00% |
Blue River Holdings Limited Corporate Events
Blue River Explains Auditor Change After Fee Dispute Over Coal Trading Audit Scope
Blue River Holdings Limited has clarified the circumstances surrounding its recent change of auditor, detailing how a disagreement over revised audit fees for the FY2026 engagement led to Crowe’s resignation. The dispute arose after Crowe reass...
Blue River appoints new chair as board reshuffles during trading suspension
Blue River Holdings Limited has appointed Ms. Sun Dixie Hui as executive director, managing director and chairman of the board, effective 16 September 2026. The experienced corporate finance and banking professional also holds an 8.93% stake in the c...
Blue River Holdings Reshapes Board and Committee Leadership
Blue River Holdings Limited has updated its board composition effective 16 September 2026, naming Ms. Sun Dixie Hui as chairman and managing director alongside executive director Mr. Au Wai June and three independent non-executive directors, Mr. Yu C...
Blue River Holdings Announces Leadership and Governance Changes
Blue River Holdings Limited has announced the resignation of Executive Director, Chairman and Managing Director Mr. Kwong Kai Sing, Benny, effective 15 September 2026. The board stated that Mr. Kwong has no disagreement with its members and expressed...
Blue River Holdings Revamps Board and Committee Structure
Blue River Holdings Limited has updated its board composition effective 15 September 2026, naming Mr. Au Wai June as executive director alongside three independent non-executive directors, Mr. Yu Chung Leung, Mr. Lam John Cheung-wah and Ms. Liu Jiany...
Blue River Shareholders Approve All AGM Resolutions as Trading Suspension Continues
Blue River Holdings Limited reported that all resolutions proposed at its annual general meeting on 26 August 2026 were approved by shareholders by way of poll. The meeting endorsed the audited financial statements for the year ended 31 March 2026, r...
Blue River Details Auditor Re-Appointment as Shares Remain Suspended
Blue River Holdings Limited has issued a supplemental announcement detailing the proposed re-appointment of ZHONGHUI ANDA CPA Limited as its auditor until the next annual general meeting, with an estimated audit fee range of HK$950,000 to HK$1,050,00...
Blue River outlines acquisition-driven plan to regain Hong Kong listing compliance
Blue River Holdings has provided an update on efforts to resume trading in its shares on the Hong Kong Stock Exchange after a suspension tied to non-compliance with listing Rule 13.24, which requires issuers to maintain sufficient operations and asse...
Blue River Maintains 34.7% Stake in HCL via HK$69 Million Rights Subscription
Blue River Holdings Limited has disclosed that an indirect non-wholly owned subsidiary subscribed for 246 rights shares in associate HCL on 13 March 2025, paying HK$69.37 million in cash as part of HCL’s rights issue. The move was structured on...
Blue River Holdings Names New Company Secretary as Share Trading Remains Suspended
Blue River Holdings Limited has announced the resignation of Ms. Ho Sze Nga, Maggie as company secretary, authorised representative, process agent and member of the Corporate Governance and Compliance Committee, effective 3 August 2026, with no repor...
Blue River Holdings Sets 2026 AGM, Seeks Mandate for New Shares and Auditor
Blue River Holdings Limited has called an annual general meeting for 26 August 2026 in Hong Kong, where shareholders will review and adopt the audited financial statements and the reports of the directors and independent auditor for the year ended 31...
Blue River Updates Bermuda Office as Trading Suspension Persists
Blue River Holdings Limited will change the address of its registered office, principal share registrar and transfer agent in Bermuda to a new Hamilton location effective 3 August 2026, while Tricor Investor Services Limited will continue to serve as...
Blue River Holdings Swings to Profit on Improved Associate Contributions
Blue River Holdings Limited reported audited consolidated annual results for the year ended 31 March 2026, posting revenue of HK$35.0 million, down from HK$39.0 million a year earlier, with gross profit slipping to HK$8.4 million. Despite softer top-...
Blue River Signals Return to Profit as Trading Suspension Continues
Blue River Holdings Limited expects to report a sharp turnaround for the year ended 31 March 2026, with profit attributable to shareholders of about HK$51 million versus a loss of roughly HK$177 million a year earlier. The reversal is driven by impro...
Blue River delays FY2026 results as audit work extends and trading halt continues
Blue River Holdings Limited has delayed publication of its audited annual results for the year ended 31 March 2026, as its auditor requires more time to complete substantive procedures, including third-party confirmations and valuation of the group&#...
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.
Date of analysis: Sep 23, 2026