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Xinming China Holdings Limited
(2699)
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Rating:48Neutral
Price Target:
HK$5.00
▲(2172.73% Upside)
Action:Reiterated
Date:09/06/26
The score is primarily constrained by weak financial performance—persistent large losses, very thin margins, negative equity, and volatile cash flow—despite a strong revenue rebound. Technicals provide some support via improving moving-average structure and neutral-to-positive momentum, while valuation remains challenged by a negative P/E and no dividend data.
Positive Factors
Revenue rebound
The sharp 2025 revenue rebound indicates that the company was able to restore substantial top-line activity after weaker performance. If maintained, higher revenue could improve operating scale and support recovery efforts, although the very low margin means growth has not yet translated into profitability.
Negative Factors
Negative equity
Persistent negative shareholders’ equity reflects accumulated losses and materially weakens the company’s financial foundation. It limits balance-sheet flexibility, makes conventional leverage assessment difficult, and leaves less capacity to absorb further losses or fund operations without additional financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue rebound
The sharp 2025 revenue rebound indicates that the company was able to restore substantial top-line activity after weaker performance. If maintained, higher revenue could improve operating scale and support recovery efforts, although the very low margin means growth has not yet translated into profitability.
Read all positive factors
Xinming China Holdings Limited (2699) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$131.90M
Dividend YieldN/A
Average Volume (3M)1.26M
Price to Earnings (P/E)―
Beta (1Y)0.40
Revenue Growth212.45%
EPS Growth75.88%
CountryHK
Employees35
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)-30.39
Shares Outstanding26,300,709
10 Day Avg. Volume1,475,010
30 Day Avg. Volume1,260,029
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)-0.07
Price to Sales (P/S)2.31
P/FCF Ratio-3.38
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
Xinming China Holdings Limited Business Overview & Revenue Model
Company Description
Xinming China Holdings Limited, an investment holding firm, operates primarily as an integrated developer of both residential and commercial real estate within the People's Republic of China. Its business activities are structured across three div...
Xinming China Holdings Limited Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
9
Very Negative
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Jun 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 131.67M | 109.46M | 86.84M | 422.58M | 35.20M | 101.83M |
| Gross Profit | 63.13M | 66.70M | 7.92M | -73.07M | 20.01M | 57.00M |
| EBITDA | 3.67M | 67.42M | -110.35M | -113.48M | -648.17M | -11.88M |
| Net Income | -190.57M | -219.03M | -542.52M | -526.12M | -2.25B | -863.93M |
Balance Sheet | ||||||
| Total Assets | 2.12B | 2.20B | 2.14B | 2.22B | 2.63B | 5.22B |
| Cash, Cash Equivalents and Short-Term Investments | 34.80M | 7.38M | 41.65M | 36.29M | 56.37M | 20.22M |
| Total Debt | 1.48B | 1.49B | 1.49B | 1.55B | 1.59B | 1.85B |
| Total Liabilities | 5.95B | 5.91B | 5.69B | 5.18B | 5.06B | 5.20B |
| Stockholders Equity | -3.50B | -3.39B | -3.24B | -2.76B | -2.23B | 20.52M |
Cash Flow | ||||||
| Free Cash Flow | -47.50M | -74.84M | 66.08M | -84.27M | -1.68M | 166.86M |
| Operating Cash Flow | -47.50M | -74.84M | 66.08M | -84.27M | -1.68M | 166.88M |
| Investing Cash Flow | -71.02K | -2.92K | 6.00K | 178.00K | 53.00K | -248.00K |
| Financing Cash Flow | 80.77M | 80.01M | -66.76M | 77.99M | -11.16M | -151.66M |
Xinming China Holdings Limited Technical Analysis
Negative
0.22
Price Trends
5.47
Negative
5.36
Negative
4.98
Positive
Market Momentum
-0.15
Positive
43.96
Neutral
25.42
Neutral
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 0.22 is below the 20-day moving average (MA) of 5.27, below the 50-day MA of 5.47, and below the 200-day MA of 4.98, indicating a neutral trend. The MACD of -0.15 indicates Positive momentum. The RSI at 43.96 is Neutral, neither overbought nor oversold. The STOCH value of 25.42 is Neutral, 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
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% | |
48 Neutral | HK$131.90M | -0.14 | 5.53% | ― | 212.45% | 75.88% | |
46 Neutral | HK$45.61M | -0.09 | -77.03% | ― | -13.32% | -25.42% | |
43 Neutral | HK$36.42M | -0.72 | -13.13% | ― | 21.98% | 84.38% | |
42 Neutral | HK$25.51M | >-0.01 | 35.43% | 1.99% | -60.47% | 26.66% | |
40 Underperform | HK$24.62M | >-0.01 | 221.31% | 12.38% | ― | ― |
* Real Estate Sector Average
HK:2699
Xinming China Holdings Limited
5.02
-0.64
-11.24%
HK:1124
Coastal Greenland Limited
0.11
-0.21
-65.08%
HK:1107
Modern Land (China) Co., Ltd.
0.01
>-0.01
-38.10%
HK:0755
Shanghai Zendai Property Ltd.
0.20
-0.19
-47.69%
HK:1862
Jingrui Holdings Ltd.
0.02
<0.01
33.33%
HK:2608
Sunshine 100 China Holdings Ltd.
0.01
0.00
0.00%
Xinming China Holdings Limited Corporate Events
Xinming China Flags Governance Non-Compliance After Director Resignation
Oct 23, 2026
Xinming China Holdings Limited has disclosed a governance gap following the resignation of an independent non-executive director, which left the board with only two independent non-executive directors, below the minimum required under Hong Kong Li...
Xinming China Reshapes Board After Chairman and Independent Director Exit
Oct 21, 2026
Xinming China Holdings Limited announced that chairman, executive director and chief executive officer Mr. Chen Chengshou, along with independent non-executive director Ms. Huang Chunlian, have resigned from the board and its key committees with e...
Xinming China Clarifies Board Roles and Committee Structure
Oct 21, 2026
Xinming China Holdings Limited has announced an updated list of its directors and their respective roles, confirming Mr. Shi Jianwen as executive director, Ms. Zhang Yu as non-executive director, and Ms. Chan Wai Yan and Ms. Lee Yin Man as indepen...
Xinming China Moves to Ease Liquidity Strain After Auditor’s Going-Concern Warning
Oct 16, 2026
Xinming China Holdings Limited has issued an update on the disclaimer of opinion in its 2025 annual report, where its auditor Global Link CPA Limited flagged material uncertainties related to the group’s ability to continue as a going concer...
Xinming China Revenue Surges but Losses Persist in First-Half 2026
Aug 31, 2026
Xinming China Holdings reported unaudited interim results for the six months ended 30 June 2026, with group revenue rising 66.8% year-on-year to RMB55.3 million but gross profit falling 74.4% to RMB1.2 million, indicating materially compressed mar...
Xinming China Sets August Board Meeting to Review Interim Results and Dividend
Aug 19, 2026
Xinming China Holdings Limited, incorporated in the Cayman Islands and listed in Hong Kong under stock code 2699, is governed by a board that includes both executive and independent non-executive directors. This mix of leadership suggests adherenc...
Xinming China Completes HK$106 Million Rights Issue and Placing
Jul 31, 2026
Xinming China Holdings Limited has completed a rights issue on the basis of six rights shares for every one consolidated share at a subscription price of HK$4.70, following a prospectus dated 15 June 2026. Valid shareholder applications covered ab...
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.