Zall Smart Commerce Group Ltd. (2098) AI Stock Analysis

Zall Smart Commerce Group Ltd.

(HKEX:2098)

Select Model

Rating:44Neutral

Price Target:HKD 0.07▲(12.70% Upside)

Action:reiterated

Date:08/29/26

The score is held down primarily by weak financial performance (thin profitability, 2025 revenue decline, meaningful leverage, and uneven cash flow). Technicals add further pressure as the stock trades below key moving averages with negative MACD. A low P/E provides some valuation support but is not enough to outweigh the operational and trend risks.

Positive Factors

Integrated commerce platformOperating large-scale commerce hubs with supporting warehousing and logistics infrastructure gives the company an integrated platform for wholesale trade and supply-chain circulation. This model can deepen merchant participation and create recurring operating and service income across connected facilities.

Negative Factors

Revenue contractionThe sharp 2025 revenue decline interrupts the prior growth trend and signals weaker demand or activity across the company’s commerce projects. A shrinking top line can reduce operating leverage, constrain reinvestment, and make recovery less resilient over the next several quarters.

Zall Smart Commerce Group Ltd. (2098) vs. iShares MSCI Hong Kong ETF (EWH)

Market Cap: HKD 781.17M
Dividend Yield: ―
Average Volume (3M): 914.70K
Price to Earnings (P/E): -0.6
Beta (1Y): 0.15
Revenue Growth: -43.78%
EPS Growth: -696.45%
Country: Hong Kong
Employees: 1,292
Sector: Industrials
Sector Strength: 63
Industry: Airlines, Airports & Air Services

Zall Smart Commerce Group Ltd. Business Overview & Revenue Model

Company Description

Zall Smart Commerce Group Ltd., an investment holding company, engages in the supply chain management and trading businesses in the People’s Republic of China and Singapore. It operates in two segments, Property Development and Related Services; and...

How the Company Makes Money

Zall Smart Commerce Group Ltd. primarily makes money through the development and operation of its commerce hubs/professional market projects and by providing supporting services to participants in those ecosystems. Key revenue streams typically inclu...

Zall Smart Commerce Group Ltd. Financial Statement Overview

Summary

Financials point to a fragile recovery: 2025 revenue fell sharply (~18%) and margins remain near zero, limiting resilience. Leverage is meaningful (debt roughly around/above equity) while returns are very low, and cash generation is inconsistent with weak recent free cash flow—together these constrain flexibility.

Income Statement

38Negative

Balance Sheet

46Neutral

Cash Flow

29Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	101.06B	155.03B	162.36B	125.29B	110.91B	104.55B
Gross Profit	497.04M	585.65M	698.97M	846.64M	587.42M	885.75M
EBITDA	-1.13B	38.26M	669.06M	717.13M	-2.50B	-797.98M
Net Income	-1.10B	147.45M	128.95M	50.91M	-3.04B	-1.33B
Balance Sheet
Total Assets	52.60B	61.75B	69.48B	63.78B	60.36B	59.28B
Cash, Cash Equivalents and Short-Term Investments	4.17B	8.52B	1.58B	1.80B	1.47B	1.23B
Total Debt	11.72B	14.44B	16.38B	15.30B	18.27B	17.73B
Total Liabilities	39.42B	47.34B	55.14B	49.57B	46.21B	42.50B
Stockholders Equity	12.91B	14.09B	13.95B	13.80B	13.75B	16.45B
Cash Flow
Free Cash Flow	-112.82M	1.31M	-350.86M	1.93B	805.96M	647.26M
Operating Cash Flow	-38.34M	86.95M	-269.47M	2.02B	858.74M	721.57M
Investing Cash Flow	-2.15B	-24.05M	142.71M	866.66M	709.20M	2.26B
Financing Cash Flow	1.64B	17.04M	-128.06M	-2.45B	-1.33B	-3.07B

Zall Smart Commerce Group Ltd. Technical Analysis

Technical Analysis SentimentNegative

Last Price0.06

Price Trends

50DMA0.07Negative

100DMA0.07Negative

200DMA0.09Negative

Market Momentum

MACD-0.00Positive

RSI38.86Neutral

STOCH26.57Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2098, the sentiment is Negative. The current price of 0.06 is below the 20-day moving average (MA) of 0.06, below the 50-day MA of 0.07, and below the 200-day MA of 0.09, indicating a bearish trend. The MACD of -0.00 indicates Positive momentum. The RSI at 38.86 is Neutral, neither overbought nor oversold. The STOCH value of 26.57 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2098.

Zall Smart Commerce Group Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (63)

Financial Indicators

HK:2098 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HK:6083	67Neutral	HKD 243.39M	9.43	24.56%	7.73%	18.70%	-8.56%
Sector *	63Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
HK:0560	55Neutral	HKD 650.28M	10.49	1.90%	4.31%	-4.13%	-19.03%
HK:2098	44Neutral	HKD 781.17M	-0.60	-8.15%	―	-43.78%	-696.45%
HK:2130	41Neutral	HKD 930.01M	35.02	4.65%	0.65%	6.56%	-9.25%
HK:6123	36Underperform	HKD 451.43M	-3.08	-14.50%	―	5.28%	-148.69%

* Industrials Sector Average

Performance Comparison

HK:2098 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
HK:2098	Zall Smart Commerce Group Ltd.	0.06	-0.06	-47.93%
HK:0560	Chu Kong Shipping Enterprises (Group) Co. Ltd.	0.58	-0.17	-22.67%
HK:2130	CN Logistics International Holdings Limited	3.10	-0.27	-8.11%
HK:6123	YTO International Express and Supply Chain Technology Limited	1.08	-0.01	-0.92%
HK:2482	Logory Logistics Technology Co. Ltd. Class H	0.27	-0.48	-64.00%
HK:6083	World-Link Logistics (Asia) Holding Ltd	0.48	-0.10	-16.81%

Zall Smart Commerce Group Ltd. Corporate Events

Zall Smart Commerce Swings to Interim Loss on Revenue Slump and Property Hit

Aug 31, 2026

Zall Smart Commerce Group reported a sharp decline in interim revenue to RMB36.9 billion for the six months ended 30 June 2026, down from RMB90.9 billion a year earlier, with gross profit falling to RMB223 million. The company swung to a net loss att...

Zall Smart Commerce Expects RMB1.2 Billion Interim Loss on Property Valuations

Aug 21, 2026

Zall Smart Commerce Group Ltd. has warned investors that it expects to swing to a net loss of about RMB1.2 billion for the six months ended 30 June 2026, compared with a net profit of roughly RMB70 million a year earlier. The sharp reversal is primar...

Zall Smart Commerce Sets Board Meeting to Review 2026 Interim Results and Dividend

Aug 13, 2026

Zall Smart Commerce Group Ltd. has scheduled a board meeting for 31 August 2026 to review and approve the unaudited interim financial results for the six months ended 30 June 2026. The board will also consider declaring an interim dividend, a decisio...

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.

Date of analysis: Aug 29, 2026

Zall Smart Commerce Group Ltd. AI Stock Analysis