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Hospital Corporation of China Ltd
(3869)
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Rating:50Neutral
Price Target:
HK$3.50
▲(2.94% Upside)
Action:Reiterated
Date:10/03/26
The score is held back primarily by balance-sheet leverage and weak technical positioning (price below key moving averages with negative MACD). Financial performance provides partial offset due to the strong 2025 revenue rebound and return to profitability with positive free cash flow, but valuation is unattractive/unclear given the negative P/E and no dividend yield data.
Positive Factors
Revenue and Profit Recovery
The sharp 2025 revenue rebound and return to profitability indicate renewed demand for the company’s healthcare services and improved operating execution. If sustained, stronger volumes and earnings can support reinvestment, improve financial resilience, and strengthen the hospital network’s ability to compound results.
Negative Factors
High Balance-Sheet Leverage
Debt remains substantial relative to shareholders’ equity, so weaker patient activity, margins, or cash generation could place greater pressure on financial flexibility. Elevated leverage may also restrict the company’s ability to fund expansion internally and makes sustained operating improvement important for balance-sheet stability.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and Profit Recovery
The sharp 2025 revenue rebound and return to profitability indicate renewed demand for the company’s healthcare services and improved operating execution. If sustained, stronger volumes and earnings can support reinvestment, improve financial resilience, and strengthen the hospital network’s ability to compound results.
Read all positive factors
Hospital Corporation of China Ltd (3869) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$467.79M
Dividend YieldN/A
Average Volume (3M)13.00
Price to Earnings (P/E)―
Beta (1Y)-0.19
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 | 183.01M | 243.34M | 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 Technical Analysis
Negative
3.40
Price Trends
3.40
Negative
3.40
Negative
4.01
Negative
Market Momentum
>-0.01
Positive
0.21
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3869, the sentiment is Negative. The current price of 3.4 is above the 20-day moving average (MA) of 3.39, above the 50-day MA of 3.40, and below the 200-day MA of 4.01, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 0.21 is Positive, neither overbought nor oversold. The STOCH value of 0.00 is undefined, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:3869.
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 |
|---|---|---|---|---|---|---|---|
71 Outperform | HK$595.22M | 5.74 | 6.35% | 10.11% | -0.27% | 29.73% | |
62 Neutral | HK$5.79B | 27.95 | 2.55% | 0.39% | 1.59% | -58.55% | |
56 Neutral | HK$1.10B | 77.62 | 0.48% | 1.10% | -3.26% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | HK$936.00M | 23.50 | 5.59% | ― | ― | ― | |
50 Neutral | HK$467.79M | -144.57 | -0.41% | ― | 3.16% | -101.02% | |
44 Neutral | HK$572.07M | -3.03 | -8.65% | ― | 47.93% | 65.94% |
* Healthcare Sector Average
HK:3869
Hospital Corporation of China Ltd
3.39
-3.37
-49.85%
HK:9906
Honliv Healthcare Management Group Co Ltd
1.56
0.06
4.00%
HK:3689
Guangdong Kanghua Healthcare Co., Ltd. Class H
1.88
0.13
7.55%
HK:3886
Town Health International Medical Group Ltd.
0.16
-0.13
-45.12%
HK:6078
Hygeia Healthcare Holdings Co., Ltd.
9.49
-4.32
-31.28%
HK:2453
Concord Healthcare Group Co., Ltd. Class H
0.70
-2.22
-76.03%
Hospital Corporation of China Ltd Corporate Events
Hospital Corporation of China Reshapes Board to Bolster Governance and Compliance
Sep 22, 2026
Hospital Corporation of China Limited is a Hong Kong-listed healthcare group that operates and invests in hospital and medical services businesses in China, supported by institutional capital and experienced board members. The company’s gove...
Hospital Corporation of China Updates Board and Committee Structure
Sep 22, 2026
Hospital Corporation of China Limited has announced the latest composition of its board of directors, detailing the roles of executive, non-executive and independent non-executive members. The board continues to be chaired by executive director Ca...
Hospital Corporation of China Posts Strong Adjusted Profit Despite Flat Revenue
Aug 25, 2026
Hospital Corporation of China Limited reported unaudited interim results for the six months ended 30 June 2026, showing relatively stable revenue at RMB732.8 million versus RMB743.0 million a year earlier. General hospital services continued to ac...
Hospital Corporation of China Sets Board Meeting to Review Interim Results and Dividend
Aug 13, 2026
Hospital Corporation of China Limited has scheduled a board meeting for 25 August 2026 to review and approve the group’s unaudited interim results for the six months ended 30 June 2026. The board will also consider the possible declaration o...
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.