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Mingfa Group (International) Co. Ltd.
(0846)
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Rating:43Neutral
Price Target:
HK$0.08
▼(-44.29% Downside)
Action:Reiterated
Date:09/06/26
The score is held down primarily by weak financial performance (multi-year losses, shrinking revenue, and volatile/negative 2025 cash flow). Technical indicators also point to ongoing downside momentum (negative MACD, price below key moving averages, very low RSI). Valuation provides limited offset because the negative P/E reflects loss-making operations and no dividend yield data is available.
Positive Factors
Moderate Leverage
Moderate leverage gives Mingfa a comparatively stronger financial base than a highly debt-dependent developer. Sizable equity and limited debt relative to equity may preserve financing flexibility and reduce the burden of interest obligations while the company works through its operational losses.
Negative Factors
Deepening Losses
Sustained losses materially weaken the company’s earnings power and reduce its ability to fund development internally. The 2025 net margin near negative 28% indicates that current projects are not converting revenue into profit, making recovery dependent on improved project economics and execution.
Read all positive and negative factors
Positive Factors
Negative Factors
Moderate Leverage
Moderate leverage gives Mingfa a comparatively stronger financial base than a highly debt-dependent developer. Sizable equity and limited debt relative to equity may preserve financing flexibility and reduce the burden of interest obligations while the company works through its operational losses.
Read all positive factors
Mingfa Group (International) Co. Ltd. (0846) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$493.57M
Dividend Yield2.51%
Average Volume (3M)187.53K
Price to Earnings (P/E)―
Beta (1Y)0.73
Revenue Growth-37.93%
EPS Growth31.14%
CountryHK
Employees2,990
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)-0.20
Shares Outstanding6,093,451,000
10 Day Avg. Volume62,300
30 Day Avg. Volume187,533
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.04
Price to Sales (P/S)0.14
P/FCF Ratio-1.47
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Mingfa Group (International) Co. Ltd. Business Overview & Revenue Model
Company Description
As an investment holding company, Mingfa Group (International) Company Limited primarily operates in the People's Republic of China, focusing on property development, property leasing, and hotel management. Its operations are structured into three...
How the Company Makes Money
The company primarily makes money through (1) property development sales, (2) rental and related income from investment properties, and (3) other property-related income streams tied to its projects.
1) Property development sales (core revenue dr...
Mingfa Group (International) Co. Ltd. Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
58
Neutral
Cash Flow
33
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.39B | 7.03B | 9.52B | 10.57B | 16.42B |
| Gross Profit | 790.77M | 1.52B | 1.94B | 2.34B | 5.01B |
| EBITDA | 7.23M | -964.53M | 324.49M | 1.14B | 3.26B |
| Net Income | -1.23B | -1.79B | -467.13M | 47.96M | 1.88B |
Balance Sheet | |||||
| Total Assets | 57.41B | 62.33B | 70.67B | 71.19B | 73.75B |
| Cash, Cash Equivalents and Short-Term Investments | 574.25M | 1.17B | 1.78B | 2.88B | 3.67B |
| Total Debt | 2.79B | 2.12B | 2.52B | 2.65B | 3.48B |
| Total Liabilities | 40.82B | 45.53B | 51.65B | 51.57B | 54.29B |
| Stockholders Equity | 14.50B | 15.72B | 17.52B | 17.98B | 17.94B |
Cash Flow | |||||
| Free Cash Flow | -417.17M | 1.23B | -487.27M | -259.90M | 737.40M |
| Operating Cash Flow | -385.01M | 1.24B | -459.13M | 69.96M | 1.01B |
| Investing Cash Flow | 300.09M | 984.53M | -102.15M | 228.81M | 103.36M |
| Financing Cash Flow | -465.23M | -2.79B | -551.72M | -869.79M | -1.02B |
Mingfa Group (International) Co. Ltd. Technical Analysis
Negative
0.14
Price Trends
0.08
Negative
0.09
Negative
0.10
Negative
Market Momentum
>-0.01
Negative
26.63
Positive
50.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0846, the sentiment is Negative. The current price of 0.14 is above the 20-day moving average (MA) of 0.08, above the 50-day MA of 0.08, and above the 200-day MA of 0.10, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 26.63 is Positive, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0846.
Mingfa Group (International) Co. Ltd. Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
61 Neutral | HK$700.29M | 5.22 | 2.70% | 6.11% | 29.06% | 93.48% | |
46 Neutral | HK$482.69M | -0.91 | -5.07% | 1.49% | -17.82% | 21.91% | |
44 Neutral | HK$411.37M | <0.01 | 817.88% | 13.91% | -17.69% | ― | |
43 Neutral | HK$493.57M | -0.34 | -8.20% | 2.51% | -37.93% | 31.14% | |
39 Underperform | HK$327.98M | -0.07 | -330.41% | 17.32% | -48.10% | -106.59% | |
39 Underperform | HK$279.00M | >-0.01 | 45.69% | 7.27% | -18.03% | -27.09% |
* Real Estate Sector Average
HK:0846
Mingfa Group (International) Co. Ltd.
0.08
-0.03
-27.03%
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-36.30%
Mingfa Group (International) Co. Ltd. Corporate Events
Mingfa Group Nears Completion of PRC Subsidiary Board Restructuring
Aug 31, 2026
Mingfa Group (International) Company Limited has reported further progress in its long-running restructuring of the boards of directors at its PRC subsidiaries. As of 31 August 2026, only two remaining subsidiaries are awaiting local regulatory ap...
Mingfa Group Releases Unaudited Interim Results for First Half of 2026
Aug 28, 2026
Mingfa Group (International) Company Limited announced its unaudited interim results for the six months ended 30 June 2026, fulfilling Hong Kong Stock Exchange requirements for preliminary disclosure. The company will subsequently publish a full i...
Mingfa Group Sets August Board Meeting to Review Interim Results and Dividend
Aug 13, 2026
Mingfa Group (International) Company Limited has scheduled a board meeting in Hong Kong on 28 August 2026 to review and approve the unaudited interim results for the six months ended 30 June 2026. The board will also consider the declaration of an...
Mingfa Group Nears Completion of PRC Subsidiary Board Restructuring
Jul 31, 2026
Mingfa Group (International) Company Limited, incorporated in the Cayman Islands and listed in Hong Kong, operates through key subsidiaries in mainland China and maintains a multi-tier board structure with executive, non-executive, and independent...
Mingfa Group’s Interim Contracted Sales Fall 21% on Weaker China Property Demand
Jul 23, 2026
Mingfa Group (International) Company Limited reported unaudited contracted sales of approximately RMB1.1 billion for the six months ended 30 June 2026, reflecting a decline of about 21.4% from roughly RMB1.4 billion in the same period of 2025. Sal...
Mingfa Nears Completion of Board Restructuring at PRC Subsidiaries
Jun 30, 2026
Mingfa Group (International) Company Limited, incorporated in the Cayman Islands and listed on the Hong Kong Stock Exchange, oversees a network of subsidiaries in mainland China under a multi-tiered governance structure. Its board comprises execut...
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.