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China Boqi Environmental (Holding) Co., Ltd. (2377) AI Stock Analysis

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HK:2377

China Boqi Environmental (Holding) Co., Ltd.

(HKEX:2377)

Select Model
Rating:69Neutral
Price Target:HKD 0.69â–²(10.40% Upside)
Action:downgraded
Date:10/28/26

The score is driven primarily by solid financial fundamentals (strong profitability and a low-debt balance sheet) and very attractive valuation (low P/E and high dividend yield). Offsetting these strengths is weak technical momentum, with the price below key moving averages and a negative MACD, despite oversold RSI/Stoch readings.

Positive Factors
Healthy profitabilityThe company has maintained solid operating economics despite limited sales growth. Gross-margin improvement and steady operating profitability indicate that its engineering and environmental services remain commercially viable, supporting earnings resilience over the next several quarters.
Negative Factors
Stagnant revenueLimited top-line expansion constrains the company’s ability to grow earnings through greater project volume or market penetration. The 2025 decline also suggests that current profitability is not yet being reinforced by a durable expansion in customer demand or delivered work.

China Boqi Environmental (Holding) Co., Ltd. (2377) vs. iShares MSCI Hong Kong ETF (EWH)

-50%-40%-30%-20%-10%0%10%20%HK:2377-40.42%EWH+7.37%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
HKD 530.01M
Dividend Yield
10.24%
Average Volume (3M)
130.73K
Price to Earnings (P/E)
2.3
Beta (1Y)
0.44
Revenue Growth
-2.82%
EPS Growth
-15.06%
Country
Hong Kong
Employees
2,301
Sector
Industrials
Sector Strength
63
Industry
Industrial - Pollution & Treatment Controls

China Boqi Environmental (Holding) Co., Ltd. Business Overview & Revenue Model

Company Description

Operating as an investment holding company, China Boqi Environmental (Holding) Co., Ltd. delivers environmental protection solutions, with a primary focus on flue gas treatment services, across both the People's Republic of China and international te...

How the Company Makes Money

China Boqi Environmental primarily makes money through (1) engineering, procurement and construction-type project revenue and (2) recurring operation and maintenance revenue tied to the ongoing running of flue gas treatment facilities. 1) Environment...

China Boqi Environmental (Holding) Co., Ltd. Financial Statement Overview

Summary

Financials are solid but uneven: profitability is a clear strength (gross margin ~22% in 2025 and operating margin ~11–12%), and the balance sheet is conservatively financed with low leverage (debt-to-equity ~0.10 in 2025). The main weakness is cash-flow consistency, with historical volatility in operating and free cash flow despite improvements in 2024–2025, and revenue growth has been largely flat with a small decline in 2025.

Income Statement

72Positive

Balance Sheet

84Very Positive

Cash Flow

56Neutral
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue2.11B2.23B2.15B2.14B1.90B2.09B
Gross Profit480.16M494.50M434.73M436.10M390.78M387.56M
EBITDA374.35M401.58M372.45M346.35M326.46M333.43M
Net Income200.07M239.88M236.44M240.18M151.75M348.24M
Balance Sheet
Total Assets5.05B5.18B5.41B5.02B4.73B4.78B
Cash, Cash Equivalents and Short-Term Investments604.70M739.61M812.89M590.62M714.69M805.90M
Total Debt271.49M334.51M455.23M243.55M212.76M233.95M
Total Liabilities1.67B1.85B2.12B1.95B1.88B2.03B
Stockholders Equity3.34B3.29B3.25B3.05B2.83B2.74B
Cash Flow
Free Cash Flow237.00M162.68M143.90M-57.97M26.74M-123.25M
Operating Cash Flow311.44M247.81M383.73M86.40M137.04M-55.87M
Investing Cash Flow-138.29M-133.50M-229.52M-118.68M-22.91M-129.20M
Financing Cash Flow-110.31M-289.15M124.89M-24.73M-66.54M15.86M

China Boqi Environmental (Holding) Co., Ltd. Technical Analysis

Technical Analysis SentimentNegative
Last Price0.63

Price Trends

50DMA0.76Negative
100DMA0.80Negative
200DMA0.85Negative

Market Momentum

MACD-0.04Positive
RSI26.06Positive
STOCH14.04Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2377, the sentiment is Negative. The current price of 0.63 is below the 20-day moving average (MA) of 0.72, below the 50-day MA of 0.76, and below the 200-day MA of 0.85, indicating a bearish trend. The MACD of -0.04 indicates Positive momentum. The RSI at 26.06 is Positive, neither overbought nor oversold. The STOCH value of 14.04 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2377.

China Boqi Environmental (Holding) Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform
Sector (63)

Financial Indicators

HK:2377 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
HK:2377HK:237769NeutralHKD 521.09M2.316.03%10.24%-2.82%-15.06%
HK:1397HK:139767NeutralHKD 305.03M4.4913.81%9.52%-21.56%-23.25%
Sector *63Neutral$10.79B15.437.44%2.01%2.89%-14.66%
HK:0154HK:015450NeutralHKD 622.65M2.076.54%―-5.08%-2.98%
HK:0556HK:055649NeutralHKD 281.35M-791.97-0.03%―-5.26%-102.94%
HK:0587HK:058738UnderperformHKD 584.56M-1.94-9.09%―1.36%-254.59%

* Industrials Sector Average

Performance Comparison

-50%0%50%100%150%HK:2377HK:0976HK:1397HK:0154HK:0556HK:0587Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
HK:2377 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
HK:2377China Boqi Environmental (Holding) Co., Ltd.0.63-0.42-39.90%
HK:0976Chiho Environmental Group Limited0.430.000.00%
HK:1397Baguio Green Group Ltd0.73-0.39-34.67%
HK:0154Beijing Enterprises Environment Group Limited0.41-0.15-27.19%
HK:0556Pan Asia Environmental Protection Group Ltd.0.28-0.00-1.41%
HK:0587China Conch Environment Protection Holdings Ltd.0.32-0.27-45.76%

China Boqi Environmental (Holding) Co., Ltd. Corporate Events

China Boqi Environmental Announces Change in Company Secretary

Oct 15, 2026

China Boqi Environmental (Holding) Co., Ltd. announced that Mr. Hu Nan has resigned as joint company secretary and board secretary with effect from 15 October 2026 to devote more time to personal endeavours. He stated he has no disagreement with the...

China Boqi Environmental Profit Drops on Lower Revenue Despite Margin Gain

Aug 21, 2026

China Boqi Environmental reported interim results for the six months to 30 June 2026 showing revenue of RMB955 million, down 9.7% year on year, while gross profit slipped 4.5% to RMB232 million. Despite the revenue decline, the gross profit margin im...

China Boqi Environmental Sets August Board Meeting to Review Interim Results and Dividend

Aug 11, 2026

China Boqi Environmental (Holding) Co., Ltd., a Hong Kong-listed environmental services provider incorporated in the Cayman Islands, focuses on pollution control and environmental protection solutions across mainland China. The company serves industr...

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: Oct 28, 2026