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Million Cities Holdings Ltd.
(2892)
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Rating:44Neutral
Price Target:
HK$0.59
▲(74.12% Upside)
Action:Reiterated
Date:10/01/26
The score is held down primarily by weak financial performance—sharp revenue declines, continued losses, and negative recent operating/free cash flow—despite the mitigating benefit of very low leverage. Technical indicators also point to poor momentum, while valuation metrics provide limited support due to unprofitability and no dividend yield.
Positive Factors
Very low leverage
Very low leverage reduces refinancing pressure and interest-related financial risk, giving the company more resilience while it addresses operating weakness. A lightly indebted balance sheet also preserves flexibility to allocate liquidity toward operations or selective investment rather than mandatory debt servicing.
Negative Factors
Severe revenue contraction
The scale of the revenue decline points to a major contraction in the company’s operating base and raises concerns about market activity, project delivery, or business stability. Such a reduced revenue platform can make fixed costs harder to absorb and limits the resources available to rebuild sustainable earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage
Very low leverage reduces refinancing pressure and interest-related financial risk, giving the company more resilience while it addresses operating weakness. A lightly indebted balance sheet also preserves flexibility to allocate liquidity toward operations or selective investment rather than mandatory debt servicing.
Read all positive factors
Million Cities Holdings Ltd. (2892) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$453.75M
Dividend YieldN/A
Average Volume (3M)6.87K
Price to Earnings (P/E)―
Beta (1Y)-0.17
Revenue Growth-30.38%
EPS Growth76.05%
CountryHK
Employees22
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)-0.02
Shares Outstanding750,000,000
10 Day Avg. Volume0
30 Day Avg. Volume6,866
Financial Highlights & Ratios
PEG Ratio0.14
Price to Book (P/B)0.41
Price to Sales (P/S)3.19
P/FCF Ratio-13.60
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
Million Cities Holdings Ltd. Business Overview & Revenue Model
Company Description
Million Cities Holdings Limited operates as an investment holding enterprise, with its principal activities centered on real estate development and sales within the People's Republic of China. The company's primary focus is on the construction of ...
Million Cities Holdings Ltd. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
34
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 68.82M | 70.82M | 99.71M | 641.63M | 571.18M | 1.35B |
| Gross Profit | -6.28M | -331.20K | -17.13M | -164.50M | 275.09M | 313.38M |
| EBITDA | -38.13M | -48.31M | -120.01M | -512.66M | 181.90M | 208.18M |
| Net Income | -12.87M | -20.00M | -113.82M | -482.28M | 69.18M | 166.38M |
Balance Sheet | ||||||
| Total Assets | 1.29B | 1.30B | 1.44B | 1.67B | 2.75B | 3.04B |
| Cash, Cash Equivalents and Short-Term Investments | 112.68M | 94.55M | 268.45M | 364.16M | 208.08M | 406.47M |
| Total Debt | 16.05M | 550.23K | 685.00K | 28.00K | 158.61M | 323.17M |
| Total Liabilities | 588.02M | 621.41M | 739.65M | 822.50M | 1.29B | 1.68B |
| Stockholders Equity | 562.44M | 550.86M | 570.70M | 685.42M | 1.17B | 1.09B |
Cash Flow | ||||||
| Free Cash Flow | 47.20M | -16.59M | -75.39M | 367.99M | 7.04M | 102.45M |
| Operating Cash Flow | 47.85M | -15.62M | -74.45M | 369.89M | 9.63M | 106.84M |
| Investing Cash Flow | -144.98M | -144.89M | -61.80M | 28.43M | -11.46M | -32.43M |
| Financing Cash Flow | -8.76M | -153.91K | 39.19M | -241.29M | -169.85M | -65.66M |
Million Cities Holdings Ltd. 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% | |
61 Neutral | HK$534.94M | 3.96 | 2.70% | 8.00% | 29.06% | 93.48% | |
53 Neutral | HK$786.48M | 7.53 | 1.75% | 4.15% | 166.73% | ― | |
46 Neutral | HK$548.41M | -0.34 | -9.34% | 2.51% | -38.30% | 34.06% | |
44 Neutral | HK$453.75M | -29.85 | -2.31% | ― | -30.38% | 76.05% | |
42 Neutral | HK$190.10M | <0.01 | 817.88% | 13.91% | -16.73% | ― | |
41 Neutral | HK$360.21M | -0.68 | -5.07% | 2.00% | -17.82% | 21.91% |
* Real Estate Sector Average
HK:2892
Million Cities Holdings Ltd.
0.61
0.24
63.51%
HK:1638
Kaisa Group Holdings Ltd.
0.02
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-87.18%
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Cheuk Nang (Holdings) Limited
1.21
-0.09
-7.02%
HK:1278
China New Town Development Co. Ltd.
0.06
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Hon Kwok Land Investment Co., Ltd.
0.50
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Mingfa Group (International) Co. Ltd.
0.09
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-21.05%
Million Cities Holdings Ltd. Corporate Events
Million Cities Holdings Returns to Profit on Associate Gains Despite Margin Squeeze
Aug 26, 2026
Million Cities Holdings Limited reported largely flat revenue of RMB41.5 million for the six months ended 30 June 2026, up 0.2% year-on-year, while gross profit fell 18.8% and margin contracted to 32.3% amid higher cost of sales. Despite weaker op...
Million Cities signals interim profit on Henan project sales and cost cuts
Aug 17, 2026
Million Cities Holdings Limited has issued a profit alert indicating a turnaround to a profit after tax of between RMB2 million and RMB10 million for the six months ended 30 June 2026, compared with a loss of about RMB4 million a year earlier. Pro...
Million Cities Sets August Board Meeting to Review Interim Results and Dividend
Aug 14, 2026
Million Cities Holdings Limited has scheduled a board meeting for 26 August 2026 to review and approve the interim results for the six months ended 30 June 2026. The board will also consider the declaration of an interim dividend, which could sign...
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.