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Beijing Fourth Paradigm Technology Co. Ltd. Class H
(6682)
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Rating:45Neutral
Price Target:
HK$21.00
▼(-26.93% Downside)
Action:Reiterated
Date:10/16/26
The score is weighed down primarily by persistent and worsening negative operating and free cash flow despite improving reported profitability, indicating weak cash conversion and higher funding risk. Technically, the stock remains in a clear downtrend (price below all key moving averages and negative MACD), even though momentum is oversold. Valuation also limits upside support given the high P/E and no dividend yield data.
Positive Factors
Revenue Growth
Continued revenue expansion indicates that enterprise customers are adopting the company’s AI software and solutions across its target industries. Sustained top-line growth can support broader platform scale, deepen customer relationships, and create a durable base for improving operating leverage over time.
Negative Factors
Negative Operating Cash Flow
Persistent negative operating cash flow shows that reported business activity is not yet converting into internally generated cash. If this pattern continues, the company may have less capacity to fund product development and customer deployments from operations, increasing reliance on external financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Continued revenue expansion indicates that enterprise customers are adopting the company’s AI software and solutions across its target industries. Sustained top-line growth can support broader platform scale, deepen customer relationships, and create a durable base for improving operating leverage over time.
Read all positive factors
Beijing Fourth Paradigm Technology Co. Ltd. Class H (6682) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$12.08B
Dividend YieldN/A
Average Volume (3M)4.06M
Price to Earnings (P/E)61.0
Beta (1Y)1.95
Revenue Growth41.91%
EPS GrowthN/A
CountryHK
Employees541
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.30
Shares Outstanding359,423,400
10 Day Avg. Volume4,462,301
30 Day Avg. Volume4,057,896
Financial Highlights & Ratios
PEG Ratio8.28
Price to Book (P/B)2.63
Price to Sales (P/S)2.77
P/FCF Ratio-22.56
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$40.00Price Target Upside39.18% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.11
Revenue Forecast (FY)HK$10.67B
Beijing Fourth Paradigm Technology Co. Ltd. Class H Business Overview & Revenue Model
Company Description
Phancy Group Co., Ltd. is dedicated to providing platform-centric artificial intelligence (AI) solutions. The company leverages its core technologies to create comprehensive, enterprise-grade AI products that serve a diverse range of industries. T...
How the Company Makes Money
Fourth Paradigm primarily makes money by selling enterprise AI software and related services to organizational customers. Key revenue streams generally include: (1) software and platform offerings: fees from providing its enterprise AI platform an...
Beijing Fourth Paradigm Technology Co. Ltd. Class H Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
72
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.27B | 7.14B | 5.26B | 4.20B | 3.08B | 2.02B |
| Gross Profit | 2.73B | 2.48B | 2.24B | 1.98B | 1.49B | 953.48M |
| EBITDA | 188.17M | -95.56M | -293.30M | -418.66M | -1.01B | -1.20B |
| Net Income | 159.58M | -26.27M | -268.79M | -908.72M | -1.64B | -1.79B |
Balance Sheet | ||||||
| Total Assets | 12.13B | 9.30B | 7.59B | 7.15B | 6.72B | 6.45B |
| Cash, Cash Equivalents and Short-Term Investments | 2.01B | 3.21B | 1.89B | 3.03B | 2.66B | 3.85B |
| Total Debt | 1.67B | 213.53M | 28.36M | 154.63M | 144.59M | 54.12M |
| Total Liabilities | 2.99B | 1.79B | 2.52B | 1.69B | 8.18B | 6.70B |
| Stockholders Equity | 9.04B | 7.53B | 5.06B | 5.35B | -1.57B | -351.02M |
Cash Flow | ||||||
| Free Cash Flow | -5.10B | -876.47M | -650.31M | -1.04B | -795.11M | -791.15M |
| Operating Cash Flow | -2.60B | -616.44M | -622.00M | -998.58M | -779.59M | -770.01M |
| Investing Cash Flow | -1.74B | -862.29M | -474.17M | 723.41M | 822.39M | -3.20B |
| Financing Cash Flow | 2.76B | 2.57B | -30.93M | 930.72M | -9.01M | 4.21B |
Beijing Fourth Paradigm Technology Co. Ltd. Class H Technical Analysis
Negative
28.74
Price Trends
25.78
Negative
26.83
Negative
33.73
Negative
Market Momentum
-1.24
Positive
39.53
Neutral
55.59
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6682, the sentiment is Negative. The current price of 28.74 is above the 20-day moving average (MA) of 23.63, above the 50-day MA of 25.78, and below the 200-day MA of 33.73, indicating a bearish trend. The MACD of -1.24 indicates Positive momentum. The RSI at 39.53 is Neutral, neither overbought nor oversold. The STOCH value of 55.59 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:6682.
Beijing Fourth Paradigm Technology Co. Ltd. Class H Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | HK$29.85B | 104.05 | 3.02% | 0.10% | 16.98% | ― | |
56 Neutral | HK$18.67B | -5.58 | -7.08% | ― | 35.32% | 74.56% | |
54 Neutral | HK$2.98B | -13.45 | -2.55% | 1.70% | -2.82% | -152.77% | |
47 Neutral | HK$46.69B | 132.06 | 1.09% | ― | 31.42% | ― | |
45 Neutral | HK$12.08B | 61.05 | 1.93% | ― | 41.91% | ― | |
43 Neutral | HK$53.93B | -13.23 | -14.76% | ― | 45.69% | -146.01% |
* Technology Sector Average
HK:6682
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Beijing Fourth Paradigm Technology Co. Ltd. Class H Corporate Events
Phancy Group Drops Huanxi Media Share Subscription, Sees Limited Business Impact
Oct 1, 2026
Phancy Group Co., Ltd. has terminated its planned subscription for new shares of Huanxi Media after certain conditions precedent were not satisfied and the parties chose not to extend the long-stop date. As a result, the subscription agreement has...
Phancy Group Shareholders Approve Key Incentive Scheme Changes at EGM
Sep 10, 2026
Phancy Group Co., Ltd. reported the poll results of its extraordinary general meeting held on September 10, 2026 in Hong Kong, where shareholders voted on special resolutions concerning amendments to an incentive scheme and related authorities. Al...
Phancy Group Rebrands Online With New AI-Focused Web Domain
Aug 27, 2026
Phancy Group Co., Ltd., a Hong Kong-listed Chinese technology company formerly known as Beijing Fourth Paradigm Technology Co., Ltd., is sharpening its branding around artificial intelligence with a new corporate web domain, phancy.ai. The firm, t...
Phancy Group Calls EGM to Revise Scheme and Refresh Limits
Aug 20, 2026
Phancy Group Co., Ltd. has called an extraordinary general meeting to be held in Shenzhen on September 10, 2026, where shareholders will vote on special resolutions to amend its existing scheme, refresh the scheme limit, and authorize the board or...
Phancy Group Turns Profitable as Explosive API Growth Cements AI Token Leadership
Aug 20, 2026
Phancy Group reported a sharp acceleration in growth for the six months to June 30, 2026, with revenue rising 43.4% year on year to RMB3.77 billion and gross profit up 24.5%. The company achieved a turnaround to profitability, posting net profit a...
Phancy Group unlocks RMB692m via server sale‑leaseback with Huaxia Financial Leasing
Aug 7, 2026
Phancy Group’s wholly owned unit Phancy Beijing has entered into a sale and leaseback agreement with Huaxia Financial Leasing, transferring ownership of servers and accessories for RMB691.875 million while continuing to use the equipment und...
Phancy Group Sets Board Meeting to Approve 2026 Interim Results
Aug 5, 2026
Phancy Group Co., Ltd., formerly Beijing Fourth Paradigm Technology Co., Ltd., is a PRC-incorporated joint stock company listed in Hong Kong under stock code 6682 and managed by a mixed board of executive, non-executive, independent and employee r...
Phancy Group Wins Shareholder Backing for Related-Party Dealings at EGM
Jul 23, 2026
Phancy Group Co., Ltd., a Hong Kong-listed Chinese joint stock company with both H shares and unlisted shares, reported that all directors attended its recent extraordinary general meeting in person or electronically. The group maintains treasury ...
Phancy Group Forecasts Profit Turnaround on Strong Revenue Growth
Jul 21, 2026
Phancy Group Co., Ltd. issued a positive profit alert for the six months ended June 30, 2026, projecting revenue of RMB3.2 billion to RMB4.0 billion, up about 22% to 52% year on year. The company expects profit attributable to owners of RMB90 mill...
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.