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Holly Futures Co. Ltd. Class H (3678) AI Stock Analysis
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Holly Futures Co. Ltd. Class H
(HKEX:3678)
The score is driven primarily by stable solvency and improved recent profitability/cash conversion, but is held back by volatile revenue and cash-flow history and low ROE. Technicals are mildly supportive in the short term but weaker over longer horizons, while valuation is pressured by a high P/E despite an unusually high dividend yield.
Holly Futures Co. Ltd. Class H (3678) vs. iShares MSCI Hong Kong ETF (EWH)
- Market Cap
- HKD 459.45M
- Dividend Yield
- 0.25%
- Average Volume (3M)
- 3.92M
- Price to Earnings (P/E)
- 49.3
- Beta (1Y)
- 1.39
- Revenue Growth
- -90.99%
- EPS Growth
- 148.61%
- Country
- Hong Kong
- Employees
- 568
- Sector
- Financial
- Sector Strength
- 68
- Industry
- Financial - Capital Markets
Holly Futures Co. Ltd. Class H Business Overview & Revenue Model
Company Description
Holly Futures Co., Ltd. is a futures trading enterprise operating across Mainland China and Hong Kong. Its core offerings include brokerage services for both commodity and financial futures, complemented by asset management, and investment advisory f...
How the Company Makes Money
The primary way a futures brokerage like Holly Futures Co. Ltd. Class H (3678) makes money is by earning fees and commissions tied to client trading activity and by providing ancillary services to clients. Key revenue sources typically include: (1) B...
Holly Futures Co. Ltd. Class H Financial Statement Overview
Summary
Balance sheet is conservatively positioned with modest leverage (debt-to-equity improved to ~0.06 TTM), and TTM operating/free cash flow is strong with free cash flow roughly matching net income. Offsetting this, results show meaningful volatility: revenue fell sharply in TTM versus the prior period, cash flows have swung year-to-year (including negative OCF/FCF in 2023), and ROE remains low (~1.7% TTM).
Income Statement
52NeutralBalance Sheet
74PositiveCash Flow
63Positive| Breakdown | TTM | Mar 2026 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 164.33M | 270.24M | 2.88B | 1.94B | 1.52B | 1.63B |
| Gross Profit | 155.86M | 210.72M | 361.07M | 1.94B | 104.86M | 1.64B |
| EBITDA | 55.82M | 39.99M | 79.12M | 51.91M | 42.94M | 138.39M |
| Net Income | 31.87M | 3.89M | 29.83M | 7.79M | 12.38M | 80.21M |
Balance Sheet | ||||||
| Total Assets | 13.08B | 12.67B | 11.70B | 9.31B | 10.48B | 8.08B |
| Cash, Cash Equivalents and Short-Term Investments | 468.29M | 509.99M | 785.47M | 825.66M | 6.88B | 4.96B |
| Total Debt | 123.58M | 565.02M | 286.95M | 191.27M | 146.95M | 174.65M |
| Total Liabilities | 11.20B | 10.80B | 9.82B | 7.47B | 8.65B | 6.40B |
| Stockholders Equity | 1.88B | 1.87B | 1.88B | 1.85B | 1.84B | 1.68B |
Cash Flow | ||||||
| Free Cash Flow | 1.60B | 753.64M | 2.33B | -1.65B | 1.86B | 992.27M |
| Operating Cash Flow | 1.61B | 761.36M | 2.35B | -1.62B | 1.93B | 1.24B |
| Investing Cash Flow | -5.16B | -4.24B | 37.79M | 121.90M | 148.93M | -24.72M |
| Financing Cash Flow | -42.50M | -52.65M | -157.14M | -9.79M | 119.82M | 44.82M |
Holly Futures Co. Ltd. Class H Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3678, the sentiment is Negative. The current price of 1.84 is below the 20-day moving average (MA) of 1.98, below the 50-day MA of 2.12, and below the 200-day MA of 2.60, indicating a bearish trend. The MACD of -0.07 indicates Positive momentum. The RSI at 31.09 is Neutral, neither overbought nor oversold. The STOCH value of 15.34 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:3678.
Holly Futures Co. Ltd. Class H Peers Comparison
Overall Rating
HK:261174Outperform- HK:367858Neutral
HK:142855Neutral
HK:617855Neutral
HK:146151Neutral
HK:021849Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| HK:2611 | 74Outperform | HKD 307.29B | 8.30 | 9.38% | 5.73% | 37.61% | -2.94% |
| Sector * | 68Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
| HK:3678 | 58Neutral | HKD 459.45M | 49.25 | 1.71% | 0.25% | -90.99% | 148.61% |
| HK:1428 | 55Neutral | HKD 10.16B | 15.35 | 33.51% | ― | -1.70% | 8.52% |
| HK:6178 | 55Neutral | HKD 64.75B | 14.22 | 6.46% | 6.20% | 14.53% | 36.49% |
| HK:1461 | 51Neutral | HKD 591.12M | 3.40 | 5.52% | 1.32% | -47.43% | 329.85% |
| HK:0218 | 49Neutral | HKD 1.20B | 9.90 | 4.36% | ― | 200.24% | ― |
* Financial Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| HK:3678 | Holly Futures Co. Ltd. Class H | 1.84 | -1.97 | -51.73% | |
| HK:6178 | Everbright Securities Company Limited Class H | 6.42 | -2.86 | -30.80% | |
| HK:1428 | Bright Smart Securities & Commodities Group Limited | 5.99 | -3.36 | -35.99% | |
| HK:0218 | Shenwan Hongyuan (H.K.) Limited | 0.77 | -0.86 | -52.76% | |
| HK:1461 | ZHONGTAI FUTURES Company Limited Class H | 0.59 | -0.12 | -16.78% | |
| HK:2611 | Guotai Junan Securities Co., Ltd. Class H | 13.02 | -1.48 | -10.23% |
Holly Futures Co. Ltd. Class H Corporate Events
Holly Futures Posts Strong Year-to-Date Profit Surge Despite Weaker Q3 and Cash Flow Strain
Holly Futures reported third-quarter 2026 operating income of RMB64.9 million, down 7.17 percent year-on-year, while total operating income for the first three quarters rose 12.21 percent to RMB230.6 million. Net profit attributable to shareholders f...
Holly Futures Sets Board Meeting to Approve Q3 2026 Results
Holly Futures Co. Ltd., a PRC-incorporated joint stock company conducting futures business in Hong Kong, has a diversified board that includes executive, non-executive, independent non-executive and employee directors, underscoring its listed-company...
Soho Holly to Trim Holly Futures Stake Without Changing Control
Soho Holly Corporation, a concerted party of Holly Futures’ controlling shareholder Jiangsu SOHO Holdings, plans a limited reduction of its stake in the company. It currently holds 144,400,000 A shares, or about 14.33% of Holly Futures’ t...
Holly Futures Cancels 2026 Extraordinary General Meeting and Book Closure
Holly Futures Co. Ltd. has cancelled its 2026 third extraordinary general meeting, which had been scheduled for 29 September 2026 in Nanjing, citing the need for further information regarding the filing of the proposed appointment of Mr. Liu. As a re...
Holly Futures Calls EGM to Approve New Independent Director
Holly Futures Co. Ltd., a PRC-incorporated joint stock company listed in Hong Kong, has convened its third extraordinary general meeting of 2026 to address board composition. The meeting reflects the company’s formal governance structure under...
Holly Futures Moves to Refresh Board With New Independent Director
Holly Futures has proposed appointing academic and finance expert Mr. Liu Xiaoxing as an independent non-executive director, following the previously announced resignation of incumbent director Mr. Zhang Hongfa. Mr. Zhang will remain in his role and...
Holly Futures Releases Unaudited Interim Results for First Half of 2026
Holly Futures Co. Ltd. has released its unaudited consolidated interim results for the six months ended 30 June 2026, along with comparative figures for the same period in 2025. The interim report meets Hong Kong listing requirements and has been rev...
Holly Futures Shareholders Back RSM China as 2026 Auditor at Nanjing EGM
Holly Futures Co. Ltd., a PRC-incorporated futures and derivatives broker with A and H share listings, operates under Chinese corporate and securities law while maintaining a presence in Hong Kong’s capital market. The firm serves a mixed mainl...
Holly Futures Details Remedial Steps After Auditor Appointment Delay
Holly Futures Co. Ltd., a PRC-incorporated financial services firm listed in Hong Kong and focused on futures trading, operates under dual regulatory oversight in mainland China and Hong Kong. Its governance and compliance structures are shaped by se...
Holly Futures Board to Review Interim Results and Consider Dividend
Holly Futures Co. Ltd. has scheduled a board meeting for 26 August 2026 to review and approve the unaudited interim results for the six months ended 30 June 2026 and to authorize their publication. The board will also consider the declaration of an i...
Holly Futures Details Auditor Appointment Delay and Moves to Name RSM China
Holly Futures has explained the delay in appointing new auditors, citing mandatory rotation rules from Jiangsu SASAC that cap any auditing firm’s engagement at five consecutive years. The company also must comply with PRC bidding and procuremen...
Holly Futures Calls 2026 EGM to Appoint New Auditor and Set Voting Arrangements
Holly Futures Co. Ltd. has convened its second extraordinary general meeting of 2026 for 20 August in Nanjing, where shareholders will vote on appointing RSM China CPA LLP as the company’s auditor for the 2026 financial year. The proposal inclu...
Holly Futures Proposes RSM China as 2026 Auditor
Holly Futures Co. Ltd., a PRC-incorporated joint stock company listed in Hong Kong under stock code 3678, operates in the financial services sector and conducts business in Hong Kong as Holly Futures. The firm focuses on futures-related activities an...
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.
Date of analysis: Sep 06, 2026