Xinming China Holdings Limited (2699) AI Stock Analysis

• Market Cap: HK$39.45M
• Dividend Yield: N/A
• Average Volume (3M): 7.52M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.06
• Revenue Growth: -84.06%
• EPS Growth: 60.63%
• Country: HK
• Employees: 50
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Development
• EPS (TTM): -1.56
• Shares Outstanding: 93,931,100
• 10 Day Avg. Volume: 17,066,300
• 30 Day Avg. Volume: 7,515,492
• PEG Ratio: -1.18
• Price to Book (P/B): -0.71
• Price to Sales (P/S): 26.41
• P/FCF Ratio: 34.71
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: HK$0.50
• Price Target Upside: 25.00% Upside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 0

• Rating: 38 Underperform
• Price Target: HK$0.50 ▲(25.00% Upside)

The overall stock score is heavily impacted by the company's poor financial performance and weak technical indicators. The negative P/E ratio and lack of dividend yield further contribute to the low score. The absence of earnings call data and corporate events means these factors do not influence the score.

Xinming China Holdings Limited Business Overview & Revenue Model

Company Description

Xinming China Holdings Limited, an investment holding company, operates as an integrated residential and commercial property developer in the People's Republic of China. The company operates through three segments: Property Development, Property Leasing, and Others. It develops residential units and ancillary facilities, including mid-rise apartments, high-rise apartments, and townhouses, as well as street-level retail outlets and other facilities, such as clubhouses and swimming pools. The company also invests in and leases commercial properties; and provides property management services to the owners of residential properties. As of December 31, 2021, it leased out an area of approximately 136,273.82 square meters. The company was incorporated in 2014 and is based in Hangzhou, China.

How the Company Makes Money

Xinming China Holdings Limited makes money primarily through the sale and leasing of residential and commercial properties. The company's revenue streams include the development and sale of residential apartments and complexes, as well as the leasing of commercial properties such as office spaces and retail centers. It also generates income from property management services provided to its developments, including maintenance and facility management. Strategic partnerships with local government bodies and other real estate developers can enhance project opportunities and profitability. The company may also benefit from favorable market conditions and urbanization trends in China, which can drive demand for real estate development.

Xinming China Holdings Limited Financial Statement Overview

Summary

Xinming China Holdings Limited is facing significant financial challenges, including declining revenues, persistent losses, and a highly leveraged balance sheet. Despite some improvements in cash flow, the financial statements indicate substantial risks and potential insolvency concerns.

Income Statement

Xinming China Holdings Limited has experienced significant revenue volatility with a notable decline in total revenue from 2023 to 2024. The company has consistently reported negative net income, indicating ongoing profitability challenges. Gross profit margins have been negative or low, and EBIT and EBITDA margins are also negative, reflecting operational inefficiencies and high costs relative to revenue.

Balance Sheet

The company exhibits a highly leveraged balance sheet with a negative stockholders' equity, indicating financial distress. The debt-to-equity ratio is not calculable due to negative equity, but the high total debt relative to assets suggests significant financial risk. The equity ratio is negative, further highlighting the company's insolvency issues.

Cash Flow

Cash flow analysis shows some improvement in operating cash flow in 2024 compared to 2023, but the company has faced negative free cash flow in previous years. The operating cash flow to net income ratio is positive, suggesting some ability to generate cash from operations despite net losses. However, the free cash flow to net income ratio remains concerning due to ongoing losses.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2021	Dec 2020	Dec 2019
Income Statement
Total Revenue	41.29M	86.84M	422.58M	101.83M	128.54M	163.35M
Gross Profit	-60.51M	7.92M	-73.07M	77.62M	61.56M	52.99M
EBITDA	-25.02M	-110.35M	-113.48M	-11.88M	-645.07M	-42.36M
Net Income	-344.45M	-542.52M	-526.12M	-863.93M	-1.00B	-112.52M
Balance Sheet
Total Assets	2.12B	2.14B	2.22B	5.22B	6.42B	6.74B
Cash, Cash Equivalents and Short-Term Investments	1.37M	41.65M	36.29M	20.22M	5.25M	182.22M
Total Debt	1.49B	1.49B	1.55B	1.85B	2.23B	2.16B
Total Liabilities	5.82B	5.69B	5.18B	5.20B	5.56B	4.76B
Stockholders Equity	-3.38B	-3.24B	-2.76B	20.52M	884.45M	1.89B
Cash Flow
Free Cash Flow	66.81M	66.08M	-84.27M	166.86M	-225.50M	-15.87M
Operating Cash Flow	66.81M	66.08M	-84.27M	166.88M	-225.48M	-15.86M
Investing Cash Flow	-15.00K	6.00K	178.00K	-248.00K	303.00K	535.53M
Financing Cash Flow	-66.76M	-66.76M	77.99M	-151.66M	48.20M	-380.98M

Xinming China Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.40
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2699, the sentiment is Negative. The current price of 0.4 is below the 20-day moving average (MA) of 2.13, below the 50-day MA of 2.41, and below the 200-day MA of 1.69, indicating a bearish trend. The MACD of -0.72 indicates Positive momentum. The RSI at 23.85 is Positive, neither overbought nor oversold. The STOCH value of 0.38 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2699.

Xinming China Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
3366	51 Neutral	HK$169.88M	―	―	―	-62.34%	70.06%
0185	41 Neutral	€218.13M	―	-157.74%	―	-14.64%	69.18%
6968	41 Neutral	€129.74M	―	-26.32%	―	-70.72%	-667.17%
1996	39 Underperform	€139.23M	―	-1347.47%	―	-59.30%	19.71%
2699	38 Underperform	HK$39.45M	―	―	―	-84.06%	60.63%

Xinming China Holdings Limited Corporate Events

Xinming China Holdings to Review Interim Financials and Dividend

Xinming China Holdings Limited has announced that its Board of Directors will meet on August 29, 2025, to review and approve the unaudited interim financial results for the first half of 2025 and to consider recommending an interim dividend. This meeting is significant as it will provide insights into the company’s financial health and potential returns for shareholders, impacting its market positioning and stakeholder interests.

Xinming China Holdings Completes Successful Rights Issue

Xinming China Holdings Limited successfully completed its rights issue, offering four rights shares for every adjusted share at HK$1.12 per share. The rights issue raised approximately HK$84.2 million in gross proceeds, with net proceeds of HK$78.9 million. The funds will primarily be used to settle convertible bonds, repay loans, and cover other financial obligations, with a portion allocated for general working capital. The successful placement of unsubscribed shares to independent third parties ensured the full subscription of the rights issue, strengthening the company’s financial position.

Xinming China Holdings Faces Undersubscription in Rights Issue

Xinming China Holdings Limited announced the results of its Rights Issue, which was significantly undersubscribed with only 17.15% of the offered shares accepted. To address the shortfall, the company has arranged to place the unsubscribed shares with independent placees through compensatory arrangements. The outcome of this placement will impact the company’s capital structure and potentially affect shareholder value, as any net gain from the placement will be distributed to certain shareholders.

Xinming China Holdings Appoints New Vice President for Greater China Region

Xinming China Holdings Limited has appointed Ms. Ke Xiaoya as the vice president of the Greater China Region, effective from July 8, 2025. Ms. Ke brings extensive experience in operation management, particularly in real estate development and sales, and will be responsible for business planning, strategic investment, and capital markets matters in the region. Her expertise in digital transformation and cross-institutional collaboration is expected to enhance the company’s operations and market positioning in the Greater China region.

Xinming China Holdings Takes Strategic Steps to Mitigate Financial Pressures

Xinming China Holdings Limited has announced measures to address a disclaimer of opinion in its 2024 Annual Report, focusing on improving its financial position and mitigating liquidity pressures. The company is actively negotiating with financial institutions for loan renewals and additional financing, conducting a rights issue to raise approximately HK$78.3 million, and accelerating property sales to generate cash. These steps are intended to stabilize the company’s operations and enhance its market positioning.

Xinming China Holdings Appoints Additional Placing Agent for Rights Issue

Xinming China Holdings Limited has announced the appointment of Asia Pacific Securities Limited as an additional placing agent to manage the subscription of unsubscribed and unsold rights shares. This move is part of a supplemental placing agreement related to the company’s rights issue, which offers four rights shares for every one adjusted share held. The agreement aims to ensure the successful placement of shares on a best-effort basis, potentially impacting the company’s capital structure and market positioning positively by attracting independent third-party investors.

Xinming China Holdings Revises Rights Issue Timetable

Xinming China Holdings Limited has announced a revised timetable for its proposed rights issue, which offers four rights shares for every one adjusted share held. This rights issue is non-underwritten and aims to provide existing shareholders with an opportunity to increase their holdings. The new schedule outlines key dates for the rights issue process, including the dispatch of prospectus documents, trading periods for nil-paid rights shares, and deadlines for acceptance and payment. The announcement reflects the company’s strategic move to strengthen its capital base, potentially impacting its market position and shareholder value.

Xinming China Holdings Faces Further Delay in Rights Issue Prospectus Dispatch

Xinming China Holdings Limited has announced a further delay in the dispatch of prospectus documents related to its proposed rights issue, which offers four rights shares for every one adjusted share held. The delay is due to additional time needed to complete bank account setup procedures and finalize information for the prospectus, with a revised timetable to be issued soon.

Xinming China Holdings Limited AGM Resolutions Unanimously Approved

Xinming China Holdings Limited successfully held its Annual General Meeting on May 23, 2025, where all proposed resolutions were unanimously approved by shareholders. The resolutions included re-electing directors, re-appointing auditors, and granting mandates for share issuance and repurchase, indicating strong shareholder support and strategic alignment for future growth.

Xinming China Holdings Announces Effective Date for Capital Reorganization

Xinming China Holdings Limited has announced the effective date for its capital reorganization, set for May 26, 2025. This reorganization includes a capital reduction confirmed by the court, and the commencement of trading in adjusted shares. The change aims to enhance the company’s capital structure, potentially impacting shareholder value and market perception.