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Hospital Corporation of China Ltd
(3869)
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Rating:54Neutral
Price Target:
HK$3.50
▲(2.94% Upside)
Action:Reiterated
Date:07/03/26
The score is held back mainly by weak technicals (downtrend vs. 100/200-day averages and negative MACD, with extremely low RSI). Financial performance is mixed: a strong 2025 operational rebound is offset by still-elevated leverage and limited cash-flow capacity to deleverage quickly. Valuation is a positive support due to the very low P/E.
Positive Factors
Revenue & Profit Rebound
A material revenue re-acceleration (+35.3% in 2025) and return to ~9.3% net margin signal demand recovery and improved operational leverage. Sustained top-line growth with continued margin recovery would underpin durable cash generation, reinvestment capacity and financing flexibility.
Negative Factors
High Leverage
Elevated leverage (debt-to-equity ~2.1x) leaves the company sensitive to interest costs and cyclical slowdowns. High gearing constrains strategic flexibility, increases refinancing risk, and makes cash flow variability more impactful on solvency over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & Profit Rebound
A material revenue re-acceleration (+35.3% in 2025) and return to ~9.3% net margin signal demand recovery and improved operational leverage. Sustained top-line growth with continued margin recovery would underpin durable cash generation, reinvestment capacity and financing flexibility.
Read all positive factors
Hospital Corporation of China Ltd (3869) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$469.86M
Dividend YieldN/A
Average Volume (3M)13.00
Price to Earnings (P/E)―
Beta (1Y)0.05
Revenue Growth3.16%
EPS Growth-101.02%
CountryHK
Employees1,835
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)0.11
Shares Outstanding138,194,000
10 Day Avg. Volume0
30 Day Avg. Volume13
Financial Highlights & Ratios
PEG Ratio-0.07
Price to Book (P/B)2.12
Price to Sales (P/S)0.72
P/FCF Ratio7.77
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
Hospital Corporation of China Ltd Business Overview & Revenue Model
Company Description
Hospital Corporation of China Limited, an investment holding enterprise, primarily focuses on the administration and direct management of hospitals across the People's Republic of China. The company extends specialized management and consulting se...
How the Company Makes Money
Hospital Corporation of China Ltd primarily generates revenue by providing medical and healthcare services to patients through its operated medical institutions. Key revenue streams typically include fees for outpatient consultations, inpatient se...
Hospital Corporation of China Ltd Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
48
Neutral
Cash Flow
58
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.47B | 1.44B | 1.43B | 1.14B | 520.29M |
| Gross Profit | 267.62M | 275.82M | 239.36M | 150.88M | 214.23M |
| EBITDA | 174.98M | 236.48M | 283.48M | -464.44M | -401.87M |
| Net Income | 136.42M | -38.63M | 131.38M | -480.95M | -280.71M |
Balance Sheet | |||||
| Total Assets | 2.58B | 2.58B | 2.50B | 2.44B | 3.12B |
| Cash, Cash Equivalents and Short-Term Investments | 805.00M | 813.08M | 667.89M | 627.61M | 779.97M |
| Total Debt | 1.06B | 1.15B | 1.04B | 1.10B | 1.09B |
| Total Liabilities | 1.86B | 2.01B | 1.91B | 1.99B | 1.99B |
| Stockholders Equity | 502.72M | 337.71M | 379.09M | 255.71M | 797.97M |
Cash Flow | |||||
| Free Cash Flow | 137.27M | 196.87M | 67.40M | 126.49M | 117.27M |
| Operating Cash Flow | 158.92M | 212.07M | 82.69M | 143.13M | 133.07M |
| Investing Cash Flow | -107.87M | 42.64M | -15.52M | 187.16M | 13.96M |
| Financing Cash Flow | -98.00M | -64.00M | -41.62M | -279.34M | -550.82M |
Hospital Corporation of China Ltd Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | HK$635.35M | 5.81 | 6.35% | 10.00% | -0.27% | 29.73% | |
62 Neutral | HK$6.36B | 30.81 | 2.50% | 0.39% | 1.59% | -58.55% | |
54 Neutral | HK$469.86M | -145.45 | -0.41% | ― | 3.16% | -101.02% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | HK$936.00M | 23.54 | 5.59% | ― | ― | ― | |
40 Underperform | HK$1.19B | 82.86 | 0.48% | 1.03% | -3.26% | ― | |
38 Underperform | HK$579.91M | -3.21 | -8.65% | ― | 47.93% | 65.94% |
* Healthcare Sector Average
HK:3869
Hospital Corporation of China Ltd
3.40
-3.39
-49.93%
HK:9906
Honliv Healthcare Management Group Co Ltd
1.56
0.06
4.00%
HK:3689
Guangdong Kanghua Healthcare Co., Ltd. Class H
1.90
-0.05
-2.31%
HK:3886
Town Health International Medical Group Ltd.
0.17
-0.09
-33.59%
HK:6078
Hygeia Healthcare Holdings Co., Ltd.
10.44
-3.89
-27.15%
HK:2453
Concord Healthcare Group Co., Ltd. Class H
0.74
-2.58
-77.71%
Hospital Corporation of China Ltd Corporate Events
Hospital Corporation of China Sets Out Board and Committee Structure
Jun 22, 2026
Hospital Corporation of China Limited has announced the current composition of its board of directors, detailing the roles of executive, non-executive and independent non-executive members, including the chief executive officer and chairman. The c...
Hospital Corporation of China Reshapes Board After Senior Resignations and Listing Rule Breach
Jun 22, 2026
Hospital Corporation of China Limited announced significant board changes, including the resignation of chairman and acting chief executive officer Chen Shuai and independent non-executive director Shi Luwen, both citing work arrangements. The com...
Hospital Corporation of China Wins Unanimous Shareholder Backing at AGM
Jun 18, 2026
Shareholders of Hospital Corporation of China Limited overwhelmingly backed all resolutions at the annual general meeting held on 18 June 2026, including the adoption of the 2025 audited accounts and the re-election of five directors spanning exec...
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.