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Rykadan Capital Ltd.
(2288)
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Rating:42Neutral
Price Target:
HK$0.15
▲(22.50% Upside)
Action:Reiterated
Date:08/03/26
The score is driven primarily by weak financial performance—multi-year losses, steep recent revenue contraction, and negative 2026 operating/free cash flow—despite only moderate leverage. Technicals are also soft with the stock below all major moving averages, while valuation offers limited support because the company is loss-making and no dividend yield is available.
Positive Factors
Moderate Leverage
Moderate leverage gives the company more balance-sheet flexibility than a highly debt-funded developer. This can reduce immediate financing pressure and preserve some capacity to manage obligations, although that flexibility is weakened by the ongoing erosion of assets and equity.
Negative Factors
Persistent Losses and Revenue Decline
Repeated annual losses, steep recent revenue contraction, and negative gross profit indicate a fundamental deterioration in operating performance. This combination reduces earnings visibility, limits internal funding capacity, and makes a durable recovery dependent on reversing both top-line and margin pressure.
Read all positive and negative factors
Positive Factors
Negative Factors
Moderate Leverage
Moderate leverage gives the company more balance-sheet flexibility than a highly debt-funded developer. This can reduce immediate financing pressure and preserve some capacity to manage obligations, although that flexibility is weakened by the ongoing erosion of assets and equity.
Read all positive factors
Rykadan Capital Ltd. (2288) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$57.44M
Dividend Yield4.29%
Average Volume (3M)42.09K
Price to Earnings (P/E)―
Beta (1Y)0.13
Revenue Growth-30.97%
EPS Growth48.96%
CountryHK
Employees19
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)N/A
Shares Outstanding375,447,000
10 Day Avg. Volume22,800
30 Day Avg. Volume42,094
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.13
Price to Sales (P/S)1.09
P/FCF Ratio-0.41
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
Rykadan Capital Ltd. Business Overview & Revenue Model
Company Description
Established in 1986 and headquartered in Kwun Tong, Hong Kong, Rykadan Capital Limited functions as an investment holding company. The firm's core activities include real estate development and strategic property investments spanning Hong Kong, ma...
Rykadan Capital Ltd. Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
47
Neutral
Cash Flow
23
Negative
| Breakdown | Mar 2025 | Mar 2025 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 51.39M | 74.45M | 104.39M | 87.69M | 86.94M |
| Gross Profit | -88.28M | 8.26M | -27.30M | 2.55M | 11.13M |
| EBITDA | -135.12M | -211.66M | -108.34M | -31.67M | -10.72M |
| Net Income | -143.62M | -281.36M | -173.89M | -189.33M | -34.87M |
Balance Sheet | |||||
| Total Assets | 593.58M | 813.40M | 1.15B | 1.36B | 1.59B |
| Cash, Cash Equivalents and Short-Term Investments | 35.91M | 63.60M | 100.90M | 167.49M | 110.14M |
| Total Debt | 133.82M | 170.28M | 279.64M | 312.80M | 331.59M |
| Total Liabilities | 155.84M | 256.61M | 296.13M | 328.20M | 359.28M |
| Stockholders Equity | 438.89M | 579.49M | 861.37M | 1.04B | 1.23B |
Cash Flow | |||||
| Free Cash Flow | -135.56M | 14.54M | -158.00K | -93.72M | -14.55M |
| Operating Cash Flow | -128.93M | 15.75M | 678.00K | -93.68M | -14.47M |
| Investing Cash Flow | 214.44M | 5.44M | -27.99M | 112.76M | -325.28M |
| Financing Cash Flow | -113.24M | -58.20M | -38.05M | 42.01M | 79.25M |
Rykadan Capital Ltd. Technical Analysis
Positive
0.12
Price Trends
0.14
Positive
0.14
Positive
0.15
Positive
Market Momentum
<0.01
Positive
54.93
Neutral
58.82
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2288, the sentiment is Positive. The current price of 0.12 is below the 20-day moving average (MA) of 0.15, below the 50-day MA of 0.14, and below the 200-day MA of 0.15, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 54.93 is Neutral, neither overbought nor oversold. The STOCH value of 58.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:2288.
Rykadan Capital 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% | |
52 Neutral | HK$98.90M | 0.06 | 270.26% | 3.14% | -19.44% | ― | |
46 Neutral | HK$45.61M | -0.09 | -77.03% | ― | -13.32% | -25.42% | |
43 Neutral | HK$45.53M | -0.90 | -13.13% | ― | 21.98% | 84.38% | |
42 Neutral | HK$57.44M | -0.31 | -29.42% | 4.29% | -30.97% | 48.96% | |
41 Neutral | HK$113.56M | >-0.01 | 60.28% | 3.34% | -56.20% | -81.98% | |
38 Underperform | HK$33.07M | ― | 193.53% | ― | -49.48% | 86.69% |
* Real Estate Sector Average
HK:2288
Rykadan Capital Ltd.
0.15
0.03
23.39%
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1.30
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Rykadan Capital Ltd. Corporate Events
Rykadan Capital Shareholders Approve All Resolutions at 2026 AGM
Sep 16, 2026
Rykadan Capital Ltd. reported that all resolutions proposed at its 2026 annual general meeting, held in Hong Kong on 16 September 2026, were approved by shareholders through a poll vote. The meeting covered routine corporate matters, including ado...
Rykadan Capital Sets Audit Fee Range and Backs Deloitte Re-Appointment
Aug 6, 2026
Rykadan Capital Limited has issued a supplemental announcement to its AGM circular, outlining arrangements for its external audit and providing additional clarity to shareholders. The board has recommended the re-appointment of Deloitte Touche Toh...
Rykadan Capital Sets 2026 AGM, Seeks Share Buyback and Issuance Mandates
Jul 30, 2026
Rykadan Capital Limited has called its 2026 annual general meeting for 16 September in Hong Kong, where shareholders will consider the adoption of audited financial statements for the year ended 31 March 2026 and receive reports from directors and...
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.