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Onewo, Inc. Class H
(2602)
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Rating:68Neutral
Price Target:
HK$21.00
▲(13.09% Upside)
Action:Reiterated
Date:09/13/26
The score is driven primarily by solid financial resilience (very low leverage and ongoing positive cash generation) but moderated by weakening growth and margin trends and a sharp recent drop in free cash flow. Technicals are constructive with price above major moving averages and positive MACD, while valuation is mixed: an attractive dividend yield is offset by a relatively high P/E.
Positive Factors
Conservative balance sheet
Very low leverage reduces financial risk and interest burden, giving Onewo greater resilience if property-sector activity weakens. The sizable equity base also preserves capacity to fund operations and pursue service expansion without relying heavily on external borrowing.
Negative Factors
Revenue growth deterioration
The shift from strong expansion to falling revenue signals weaker business momentum and could limit operating leverage. If slower growth persists, Onewo may have less capacity to scale its service platform, absorb fixed costs, or generate sustained improvement in shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage reduces financial risk and interest burden, giving Onewo greater resilience if property-sector activity weakens. The sizable equity base also preserves capacity to fund operations and pursue service expansion without relying heavily on external borrowing.
Read all positive factors
Onewo, Inc. Class H (2602) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$22.15B
Dividend Yield7.63%
Average Volume (3M)598.78K
Price to Earnings (P/E)27.5
Beta (1Y)0.64
Revenue Growth7.57%
EPS Growth-37.37%
CountryHK
Employees108,745
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)0.59
Shares Outstanding1,168,053,100
10 Day Avg. Volume731,926
30 Day Avg. Volume598,779
Financial Highlights & Ratios
PEG Ratio-0.71
Price to Book (P/B)1.31
Price to Sales (P/S)0.51
P/FCF Ratio12.47
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$23.86Price Target Upside28.47% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)0.93
Revenue Forecast (FY)HK$39.22B
Onewo, Inc. Class H Business Overview & Revenue Model
Company Description
Onewo Inc. provides property management services in the People's Republic of China. It operates through three segments: Community Space Living Consumption Services; Commercial and Urban Space Integrated Services; and AIoT and BPaaS Solution Servic...
How the Company Makes Money
Onewo primarily makes money by charging service fees for delivering property management and community services to properties under management. Key revenue streams generally include: (1) recurring property management fees paid by property owners, p...
Onewo, Inc. Class H Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
84
Very Positive
Cash Flow
57
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 37.98B | 37.27B | 36.22B | 33.18B | 30.11B | 23.70B |
| Gross Profit | 4.45B | 4.56B | 4.70B | 4.81B | 4.23B | 4.02B |
| EBITDA | 2.27B | 2.46B | 2.70B | 3.68B | 2.89B | 2.73B |
| Net Income | 673.34M | 694.56M | 1.15B | 1.95B | 1.51B | 1.67B |
Balance Sheet | ||||||
| Total Assets | 36.46B | 37.06B | 38.61B | 39.38B | 36.96B | 28.78B |
| Cash, Cash Equivalents and Short-Term Investments | 10.36B | 12.09B | 14.13B | 15.75B | 13.37B | 6.93B |
| Total Debt | 233.40M | 273.65M | 335.96M | 351.36M | 233.54M | 266.13M |
| Total Liabilities | 21.11B | 21.62B | 21.45B | 21.16B | 19.96B | 18.47B |
| Stockholders Equity | 14.48B | 14.60B | 16.42B | 17.61B | 16.46B | 9.89B |
Cash Flow | ||||||
| Free Cash Flow | 916.11M | 1.53B | 1.48B | 2.22B | 2.30B | 2.56B |
| Operating Cash Flow | 1.05B | 1.69B | 1.92B | 2.59B | 2.76B | 2.83B |
| Investing Cash Flow | -200.46M | -1.04B | -898.66M | 152.40M | -36.49M | 518.93M |
| Financing Cash Flow | -2.53B | -3.01B | -3.16B | -516.83M | 4.18B | -2.32B |
Onewo, Inc. Class H Technical Analysis
Neutral
18.57
Price Trends
18.97
Positive
17.89
Positive
17.43
Positive
Market Momentum
0.13
Positive
46.63
Neutral
34.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2602, the sentiment is Neutral. The current price of 18.57 is below the 20-day moving average (MA) of 19.35, below the 50-day MA of 18.97, and above the 200-day MA of 17.43, indicating a neutral trend. The MACD of 0.13 indicates Positive momentum. The RSI at 46.63 is Neutral, neither overbought nor oversold. The STOCH value of 34.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:2602.
Onewo, Inc. Class H Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | HK$12.86B | 10.98 | 12.24% | 4.01% | 12.73% | 28.42% | |
75 Outperform | HK$14.63B | 7.84 | 14.87% | 6.08% | 7.89% | 8.60% | |
74 Outperform | HK$10.57B | 7.32 | 21.17% | 9.32% | 10.76% | -12.76% | |
68 Neutral | HK$22.15B | 27.47 | 4.63% | 7.63% | 7.57% | -37.37% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
58 Neutral | HK$10.54B | 8.81 | 54.42% | ― | 8.66% | 7.46% | |
57 Neutral | HK$16.30B | 24.46 | 1.56% | 1.09% | 11.42% | -55.21% |
* Real Estate Sector Average
HK:2602
Onewo, Inc. Class H
18.96
-1.67
-8.11%
HK:2669
China Overseas Property Holdings
3.22
-1.35
-29.60%
HK:6098
Country Garden Services Holdings Co
4.90
-0.71
-12.70%
HK:2869
Greentown Service Group Co. Ltd.
4.08
-0.14
-3.28%
HK:6049
Poly Property Services Co., Ltd. Class H
26.44
-5.30
-16.71%
HK:6666
Evergrande Property Services Group Ltd.
0.98
-0.19
-16.67%
Onewo, Inc. Class H Corporate Events
Onewo Sets Interim Dividend and Details Tax Withholding for H Shareholders
Sep 2, 2026
Onewo Inc., a PRC domestic enterprise with H shares listed in Hong Kong, serves a mix of non-resident enterprise and individual investors who are subject to PRC dividend withholding tax. Its Hong Kong share register is maintained by Tricor Investo...
Onewo Sets Updated Interim Dividend, Clarifies Tax Terms for H-Shareholders
Sep 1, 2026
Onewo Inc. has updated its proposed interim dividend for the six months ended June 30, 2026, declaring a cash payout of RMB 0.711 per share, equivalent to HKD 0.822 per share based on an exchange rate of RMB 1 to HKD 1.156. The dividend, approved ...
Onewo Secures Shareholder Approval for 2026 Interim Dividend and Sets Payout Terms
Sep 1, 2026
Onewo Inc. shareholders approved the company’s proposed profit distribution plan for the first half of 2026 at an extraordinary general meeting held online, with approximately 86% of eligible shares represented and nearly unanimous support f...
Onewo Proposes Interim Dividend and Details Tax Treatment for H-Shareholders
Aug 13, 2026
Onewo Inc. has proposed an interim ordinary dividend of RMB 0.711 per share for the six months ended 30 June 2026, with shareholder approval scheduled for 1 September 2026. Subject to approval, the H-share register will close from 7 to 9 September...
Onewo Posts Higher Interim Revenue as Recurring Services Grow and Developer Exposure Eases
Aug 13, 2026
Onewo reported interim revenue of RMB19.11 billion for the first half of 2026, up 5.4% year on year, driven mainly by growth in community space living consumption and commercial and urban space services, while AIoT and BPaaS revenue declined. Recu...
Onewo Calls Online EGM to Approve 2026 Interim Profit Distribution Plan
Aug 13, 2026
Onewo Inc. has called an extraordinary general meeting to be held online at 10:00 a.m. on September 1, 2026, to seek shareholder approval for its proposed profit distribution plan for the first half of 2026. The register of members will be closed ...
Onewo Board to Review Interim Results and Consider Dividend
Jul 29, 2026
Onewo Inc. has scheduled a board meeting for August 13, 2026 to review and approve the interim results of the company and its subsidiaries for the six months ended June 30, 2026, along with the plan for their public release. The board will also co...
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.