Harbin Bank Co., Ltd. Class H (6138) AI Stock Analysis

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Harbin Bank Co., Ltd. Class H

(HKEX:6138)

Select Model

Rating:59Neutral

Price Target:HKD 0.32▲(6.33% Upside)

Action:reiterated

Date:11/04/26

The score is primarily restrained by high leverage, volatile cash flow, thin margins, and weak technical momentum. The low P/E ratio and strong revenue growth provide meaningful support, resulting in a below-average overall score.

Positive Factors

Positive free cash flowA positive free cash flow in 2025 and FCF roughly tracking net income indicate the bank can convert reported profits into cash. Durable cash generation supports internal funding for lending, provisioning and operations over months ahead, reducing short-term dependence on external financing.

Negative Factors

Sharp rise in leverageA large jump in leverage materially raises funding and solvency risk. Higher debt-to-equity pressures regulatory capital ratios, increases interest expense sensitivity and reduces strategic flexibility, making the bank more vulnerable to adverse credit or liquidity shocks over the next several months.

Harbin Bank Co., Ltd. Class H (6138) vs. iShares MSCI Hong Kong ETF (EWH)

Market Cap: HKD 3.30B
Dividend Yield: ―
Average Volume (3M): 1.15M
Price to Earnings (P/E): 4.1
Beta (1Y): 0.79
Revenue Growth: -2.43%
EPS Growth: 46.14%
Country: Hong Kong
Employees: 8,806
Sector: Financial
Sector Strength: 68
Industry: Banks - Regional

Harbin Bank Co., Ltd. Class H Business Overview & Revenue Model

Company Description

Founded in 1997 and based in Harbin, People's Republic of China, Harbin Bank Co., Ltd. delivers a broad spectrum of commercial banking services and offerings, predominantly within Mainland China. Its operations are structured into four key divisions:...

Harbin Bank Co., Ltd. Class H Financial Statement Overview

Summary

Revenue and net income improved substantially, but thin and volatile margins, sharply higher leverage, and inconsistent cash flow limit the financial score.

Income Statement

72Positive

Balance Sheet

55Neutral

Cash Flow

48Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	34.14B	26.76B	13.31B	6.28B	6.29B	5.62B
Gross Profit	8.23B	3.58B	13.31B	6.28B	6.29B	5.62B
EBITDA	1.56B	1.17B	1.37B	1.23B	1.79B	1.30B
Net Income	1.24B	1.12B	919.67M	739.99M	554.77M	274.13M
Balance Sheet
Total Assets	1.03T	1.02T	916.23B	813.33B	712.73B	645.05B
Cash, Cash Equivalents and Short-Term Investments	95.32B	99.18B	75.87B	37.09B	105.24B	72.02B
Total Debt	212.24B	210.92B	1.14B	46.41B	721.46M	31.90B
Total Liabilities	972.45B	967.10B	850.64B	749.44B	649.41B	582.27B
Stockholders Equity	51.08B	50.61B	63.16B	61.60B	61.17B	60.79B
Cash Flow
Free Cash Flow	-1.86B	1.76B	-30.89B	45.90B	57.50B	36.16B
Operating Cash Flow	-1.67B	1.95B	-30.50B	46.08B	57.85B	36.70B
Investing Cash Flow	-70.90B	-70.50B	-16.54B	-39.94B	-40.76B	-20.67B
Financing Cash Flow	91.89B	14.18B	66.05B	-6.43B	8.40B	-4.43B

Harbin Bank Co., Ltd. Class H Technical Analysis

Technical Analysis SentimentNegative

Last Price0.30

Price Trends

50DMA0.30Negative

100DMA0.31Negative

200DMA0.33Negative

Market Momentum

MACD-0.00Negative

RSI49.90Neutral

STOCH34.55Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6138, the sentiment is Negative. The current price of 0.30 is above the 20-day moving average (MA) of 0.30, below the 50-day MA of 0.30, and below the 200-day MA of 0.33, indicating a neutral trend. The MACD of -0.00 indicates Negative momentum. The RSI at 49.90 is Neutral, neither overbought nor oversold. The STOCH value of 34.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:6138.

Harbin Bank Co., Ltd. Class H Peers Comparison

Overall Rating

UnderperformOutperform

Sector (68)

Financial Indicators

HK:6138 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HK:3866	71Outperform	HKD 39.28B	7.10	12.65%	3.88%	12.10%	27.44%
Sector *	68Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
HK:1963	65Neutral	HKD 40.47B	6.60	10.47%	6.02%	10.30%	13.19%
HK:6199	62Neutral	HKD 14.37B	3.07	7.75%	7.01%	-1.55%	10.31%
HK:6138	59Neutral	HKD 3.30B	4.10	2.45%	―	-2.43%	46.14%
HK:6196	58Neutral	HKD 15.97B	8.00	4.11%	2.42%	―	―
HK:6190	50Neutral	HKD 7.40B	12.92	2.46%	2.48%	-2.30%	138.58%

* Financial Sector Average

Performance Comparison

HK:6138 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
HK:6138	Harbin Bank Co., Ltd. Class H	0.30	-0.11	-25.93%
HK:3866	Bank of Qingdao Co., Ltd. Class H	5.32	1.45	37.59%
HK:6190	Bank of Jiujiang Co., Ltd. Class H	2.60	0.91	53.76%
HK:1963	Bank of Chongqing Co., Ltd. Class H	8.42	0.43	5.41%
HK:6196	Bank of Zhengzhou Co., Ltd. Class H	0.91	-0.33	-27.02%
HK:6199	Bank of Guizhou Co. Ltd. Class H	0.98	0.00	0.00%

Harbin Bank Co., Ltd. Class H Corporate Events

Harbin Bank Plans RMB92.96 Billion Asset Disposal to Chengyin Asset

Oct 30, 2026

Harbin Bank Co., Ltd. has agreed to a very substantial disposal, signing an asset transfer agreement with Chengyin Asset to sell a major asset for RMB92.957 billion. The consideration will be paid in cash and via special-purpose notes issued by Cheng...

Harbin Bank Publishes Reviewed Interim Results for First Half of 2026

Aug 28, 2026

Harbin Bank Co., Ltd., a PRC-incorporated joint stock commercial bank licensed by mainland regulators, operates primarily in mainland China’s banking sector and is explicitly not supervised by the Hong Kong Monetary Authority nor authorised to offer...

Harbin Bank Schedules Board Meeting to Approve 2026 Interim Results

Aug 18, 2026

Harbin Bank Co., Ltd. has scheduled a meeting of its board of directors for 28 August 2026 to review and approve the interim financial results for the six months ended 30 June 2026. The announcement signals the upcoming disclosure of the bank’s mid-y...

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.

Date of analysis: Nov 04, 2026

Harbin Bank Co., Ltd. Class H AI Stock Analysis