Top Spring International Holdings Limited AI Stock Analysis
Want to see HK:3688 full AI Analyst Report?
Top Spring International Holdings Limited (3688) AI Stock Analysis
Top Spring International Holdings Limited
(HKEX:3688)
The score is driven primarily by severe financial deterioration, including substantial losses, rising leverage, shrinking equity, and negative operating cash flow. Bearish technical trends and the negative P/E ratio provide additional downside evidence, partly offset by oversold momentum readings.
Top Spring International Holdings Limited (3688) vs. iShares MSCI Hong Kong ETF (EWH)
- Market Cap
- HKD 204.85M
- Dividend Yield
- ―
- Average Volume (3M)
- 92.38K
- Price to Earnings (P/E)
- -0.1
- Beta (1Y)
- -0.07
- Revenue Growth
- -38.81%
- EPS Growth
- -39.14%
- Country
- Hong Kong
- Employees
- 705
- Sector
- Real Estate
- Sector Strength
- 65
- Industry
- Real Estate - Development
Top Spring International Holdings Limited Business Overview & Revenue Model
Company Description
Top Spring International Holdings Limited operates as an investment holding company, primarily focusing on real estate development within the People's Republic of China. Its diverse operations are categorized into four main segments: property develop...
How the Company Makes Money
Top Spring International Holdings Limited primarily generates revenue from real-estate-related activities. Key ways it makes money typically include (i) property development: selling developed residential/commercial properties, where revenue is recog...
Top Spring International Holdings Limited Financial Statement Overview
Summary
Severe deterioration across profitability, balance-sheet strength, and cash generation: revenue and margins collapsed, losses deepened, leverage increased, equity contracted, and operating cash flow turned negative.
Income Statement
25NegativeBalance Sheet
45NeutralCash Flow
30Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.25B | 1.44B | 1.37B | 954.32M | 3.67B | 638.96M |
| Gross Profit | -939.68M | -610.04M | -116.77M | -253.78M | 594.23M | 320.17M |
| EBITDA | -1.35B | -1.17B | -524.43M | -512.76M | 338.40M | 297.73M |
| Net Income | -2.68B | -2.91B | -1.83B | -876.89M | -185.10M | 33.43M |
Balance Sheet | ||||||
| Total Assets | 11.15B | 11.19B | 16.62B | 20.04B | 21.83B | 28.37B |
| Cash, Cash Equivalents and Short-Term Investments | 650.73M | 649.11M | 379.76M | 668.03M | 611.19M | 1.21B |
| Total Debt | 5.36B | 5.23B | 6.57B | 7.29B | 7.71B | 10.14B |
| Total Liabilities | 8.29B | 8.09B | 10.59B | 11.92B | 12.55B | 18.00B |
| Stockholders Equity | 3.10B | 3.30B | 6.07B | 8.09B | 9.22B | 10.30B |
Cash Flow | ||||||
| Free Cash Flow | -97.54M | -80.17M | 538.63M | 349.18M | 240.49M | 212.52M |
| Operating Cash Flow | -618.79M | -80.17M | 547.12M | 352.24M | 244.43M | 221.65M |
| Investing Cash Flow | -278.23M | 23.61M | 129.72M | 142.26M | 1.27B | 304.26M |
| Financing Cash Flow | 948.46M | 176.96M | -953.63M | -385.67M | -1.99B | -1.13B |
Top Spring International Holdings Limited Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3688, the sentiment is Negative. The current price of 0.14 is below the 20-day moving average (MA) of 0.15, below the 50-day MA of 0.17, and below the 200-day MA of 0.26, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 35.86 is Neutral, neither overbought nor oversold. The STOCH value of 24.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:3688.
Top Spring International Holdings Limited Peers Comparison
Overall Rating
HK:232945Neutral
HK:330141Neutral
HK:162840Underperform- HK:368839Underperform
HK:277238Underperform
HK:177737Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| Sector * | 65Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% |
| HK:2329 | 45Neutral | HKD 515.55M | -0.23 | -24.20% | ― | -58.34% | -39.05% |
| HK:3301 | 41Neutral | HKD 119.52M | -0.01 | 43.10% | ― | -66.81% | 17.12% |
| HK:1628 | 40Underperform | HKD 147.26M | 0.00 | 233.62% | ― | 25.99% | ― |
| HK:3688 | 39Underperform | HKD 204.85M | -0.08 | -83.92% | ― | -38.81% | -39.14% |
| HK:2772 | 38Underperform | HKD 120.79M | -0.01 | 592.20% | ― | -55.40% | -340.10% |
| HK:1777 | 37Underperform | HKD 94.52M | 0.00 | 40.42% | ― | -15.90% | -27.09% |
* Real Estate Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| HK:3688 | Top Spring International Holdings Limited | 0.14 | -0.28 | -65.48% | |
| HK:2772 | Zhongliang Holdings Group Company Limited | 0.03 | -0.04 | -62.32% | |
| HK:2329 | Guorui Properties Ltd | 0.12 | 0.01 | 12.75% | |
| HK:1777 | Fantasia Holdings Group Co. Ltd. | 0.03 | -0.38 | -93.66% | |
| HK:1628 | Yuzhou Group Holdings Co., Ltd. | 0.10 | -0.06 | -37.42% | |
| HK:3301 | Ronshine China Holdings Ltd. | 0.07 | -0.10 | -55.88% |
Top Spring International Holdings Limited Corporate Events
Top Spring International Reshapes Corporate Secretariat and Compliance Leadership
Top Spring International Holdings Limited has announced a change in key corporate roles, with company secretary and authorised representative Mr Wong Tak Chun resigning from these positions effective 1 October 2026 while retaining his roles as chief...
Top Spring International’s Interim Results Highlight Deepening Revenue Slump and Rising Leverage
Top Spring International Holdings, a Hong Kong-listed property developer and investor, operates a dual business model of residential property sales and rental-generating assets such as shopping malls, community commercial centres, retail shops, offic...
Top Spring flags sharply narrower interim loss on property revaluation gains
Top Spring International Holdings Limited has issued a profit alert indicating a substantial narrowing of its interim net loss, with the group expecting to report a loss of about HK$350 million for the six months ended 30 June 2026, compared with a l...
Top Spring Sets Board Meeting to Approve Interim Results and Consider Dividend
Top Spring International Holdings Limited has scheduled a board meeting for 28 August 2026 to review and approve the unaudited consolidated interim results for the six months ended 30 June 2026. The board will also consider declaring an interim divid...
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: Nov 03, 2026