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Fenbi Limited
(2469)
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Rating:53Neutral
Price Target:
HK$0.25
▼(-88.58% Downside)
Action:Reiterated
Date:09/19/26
The score is primarily supported by improved recent profitability and generally low leverage, but is materially held back by a clear bearish technical trend (price below all major moving averages with negative MACD) and weakening business momentum signals (revenue declines in 2024–2025, 2025 margin pressure, and falling free cash flow).
Positive Factors
Improved profitability
The return to profitability across three recent years, alongside gross margins in the low-50% range, indicates a materially stronger earnings base than in 2020–2022. This supports reinvestment and resilience, although future durability depends on reversing recent revenue declines.
Negative Factors
Revenue contraction
Two consecutive years of revenue contraction point to weakening business momentum rather than a single-period fluctuation. Persistent top-line pressure can reduce operating leverage, limit investment capacity, and make it harder for Fenbi to sustain recent profitability over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved profitability
The return to profitability across three recent years, alongside gross margins in the low-50% range, indicates a materially stronger earnings base than in 2020–2022. This supports reinvestment and resilience, although future durability depends on reversing recent revenue declines.
Read all positive factors
Fenbi Limited (2469) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$538.04M
Dividend YieldN/A
Average Volume (3M)2.52M
Price to Earnings (P/E)―
Beta (1Y)1.06
Revenue Growth-4.90%
EPS Growth-217.79%
CountryHK
Employees7,005
SectorConsumer Defensive
Sector Strength42
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)-0.10
Shares Outstanding2,240,596,000
10 Day Avg. Volume2,176,250
30 Day Avg. Volume2,522,084
Financial Highlights & Ratios
PEG Ratio-1.13
Price to Book (P/B)3.07
Price to Sales (P/S)1.50
P/FCF Ratio18.55
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)0.16
Revenue Forecast (FY)HK$2.96B
Fenbi Limited Business Overview & Revenue Model
Company Description
Fenbi Ltd. is an investment holding company, which engages in the provision of vocational education examination services. It operates through the following segments: Classroom-Based Tutoring Services, Online Tutoring Services, and Sales of Books. ...
How the Company Makes Money
Fenbi Limited makes money primarily by selling education and training services for exam preparation. Its core revenue model is based on charging learners for access to paid courses and learning packages delivered through its online platforms (e.g....
Fenbi Limited Financial Statement Overview
Summary
Income Statement
70
Positive
Balance Sheet
62
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.42B | 2.68B | 2.79B | 3.02B | 2.81B | 3.43B |
| Gross Profit | 1.14B | 1.43B | 1.46B | 1.57B | 1.37B | 840.87M |
| EBITDA | -135.50M | 248.72M | 303.10M | 311.49M | -1.87B | -1.75B |
| Net Income | -209.54M | 198.13M | 239.57M | 188.57M | -2.09B | -2.05B |
Balance Sheet | ||||||
| Total Assets | 1.84B | 1.85B | 1.88B | 2.12B | 1.63B | 2.14B |
| Cash, Cash Equivalents and Short-Term Investments | 1.14B | 1.22B | 1.22B | 1.63B | 1.11B | 1.17B |
| Total Debt | 113.08M | 65.14M | 90.57M | 118.26M | 164.28M | 435.69M |
| Total Liabilities | 716.42M | 540.44M | 673.48M | 854.76M | 12.50B | 10.38B |
| Stockholders Equity | 1.12B | 1.31B | 1.20B | 1.27B | -10.86B | -8.23B |
Cash Flow | ||||||
| Free Cash Flow | 10.34M | 216.36M | 269.74M | 531.59M | -120.11M | -1.13B |
| Operating Cash Flow | 23.89M | 226.32M | 290.96M | 587.84M | -83.99M | -915.13M |
| Investing Cash Flow | -351.28M | -74.50M | 469.45M | -911.54M | -36.79M | 156.52M |
| Financing Cash Flow | -209.42M | -213.07M | -498.66M | -74.50M | -85.24M | 1.61B |
Fenbi Limited Technical Analysis
Negative
2.18
Price Trends
0.31
Negative
0.36
Negative
0.84
Negative
Market Momentum
-0.02
Positive
34.74
Neutral
13.41
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2469, the sentiment is Negative. The current price of 2.18 is above the 20-day moving average (MA) of 0.28, above the 50-day MA of 0.31, and above the 200-day MA of 0.84, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 34.74 is Neutral, neither overbought nor oversold. The STOCH value of 13.41 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2469.
Fenbi Limited Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | HK$5.41B | 29.62 | 13.61% | ― | 14.36% | 10.68% | |
71 Outperform | HK$9.18B | 9.76 | 13.25% | 7.25% | 16.18% | 28.61% | |
67 Neutral | HK$1.77B | 4.88 | 36.98% | 12.58% | 23.93% | 13.07% | |
66 Neutral | HK$53.63B | 14.87 | 12.52% | 2.45% | 20.81% | 41.58% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
61 Neutral | HK$1.20B | 6.21 | 5.08% | 1.35% | -1.12% | -36.63% | |
53 Neutral | HK$538.04M | -2.12 | -17.25% | ― | -4.90% | -217.79% |
* Consumer Defensive Sector Average
HK:2469
Fenbi Limited
0.25
-2.84
-92.07%
HK:9901
New Oriental Education & Technology Group
38.34
-6.56
-14.62%
HK:1851
China Gingko Education Group Co., Ltd.
10.82
8.83
443.72%
HK:1935
JH Educational Technology INC.
0.75
-0.17
-18.48%
HK:3978
China Beststudy Education Group
2.36
-2.45
-50.88%
HK:0667
China East Education Holdings Limited
4.14
-2.05
-33.15%
Fenbi Limited Corporate Events
Fenbi Elevates Regional Edtech Leaders to Executive Board
Sep 4, 2026
Fenbi Ltd. has strengthened its leadership structure by appointing two senior regional executives, Luo Chengxing and Zhou Xiang, as executive directors effective September 4, 2026. Both have been pivotal in overseeing school operations in key main...
Fenbi Sets Out Board and Committee Structure to Highlight Governance Framework
Sep 4, 2026
Fenbi Ltd. announced the current composition of its board of directors, naming Ms. Sheng Haiyan as chairlady alongside two other executive directors, two non-executive directors and three independent non-executive directors. The company also detai...
Fenbi Swings to Interim Loss as Revenue and User Base Decline
Aug 27, 2026
Fenbi Ltd. reported a sharp deterioration in its interim financial performance for the six months ended June 30, 2026, with revenue falling to RMB1.25 billion from RMB1.49 billion a year earlier and gross profit dropping to RMB522.2 million. The g...
Fenbi Co‑founder Wei Liang Moves From President to Non‑Executive Director
Aug 21, 2026
Fenbi Ltd. has reshuffled its senior leadership, announcing that co‑founder and president Wei Liang will step down from his executive role on 21 August 2026 and immediately move to the board as a non‑executive director. The company sai...
Fenbi Ltd. Sets Out Board and Committee Line-Up to Strengthen Governance
Aug 21, 2026
Fenbi Ltd. has announced the current composition of its board of directors, led by executive director and chairlady Sheng Haiyan, supported by non-executive directors Wu Zhenggao and Wei Liang, and three independent non-executive directors, Qiu Do...
Fenbi Schedules Board Meeting to Approve Interim Results and Consider Dividend
Aug 14, 2026
Fenbi Ltd. has scheduled a board meeting for August 27, 2026, to review and approve the interim financial results for the six months ended June 30, 2026, covering the company, its subsidiaries and consolidated affiliated entities. The board will a...
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.