Mindtell Technology Limited (8611) AI Stock Analysis

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Mindtell Technology Limited

(HKEX:8611)

Select Model

Rating:45Neutral

Price Target:HKD 0.67▼(-2.48% Downside)

Action:reiterated

Date:08/19/26

The score is held down primarily by weak financial performance: worsening profitability, negative equity with rising debt, and heavy negative operating/free cash flow. Technicals provide some offset with improving short- to mid-term trend and neutral momentum, but valuation remains constrained by losses (negative P/E) and no dividend yield support in the data.

Positive Factors

Revenue GrowthRevenue growth has persisted across multiple reporting periods, with a strong TTM rebound following two years of expansion. This indicates demand traction and provides a foundation for future improvement if the company can convert that scale into healthier margins and cash generation.

Negative Factors

Sharp Margin DeteriorationProfitability has weakened materially even as revenue increased, with gross margin falling from prior-year levels and net margin reaching deeply negative territory. This suggests that growth is currently carrying limited economic benefit and leaves earnings vulnerable unless pricing or cost performance improves.

Mindtell Technology Limited (8611) vs. iShares MSCI Hong Kong ETF (EWH)

Market Cap: HKD 356.20M
Dividend Yield: ―
Average Volume (3M): 3.56M
Price to Earnings (P/E): -16.2
Beta (1Y): 1.27
Revenue Growth: 19.18%
EPS Growth: -212.50%
Country: Hong Kong
Employees: 79
Sector: Technology
Sector Strength: 61
Industry: Information Technology Services

Mindtell Technology Limited Business Overview & Revenue Model

Company Description

Mindtell Technology Limited functions as an investment holding company, delivering diverse information technology services throughout Malaysia, Indonesia, and Singapore. Its operations are structured into three key divisions: System Integration and D...

Mindtell Technology Limited Financial Statement Overview

Summary

Despite strong TTM revenue rebound (+26.76%), fundamentals are weak: gross margin fell to ~10.9% and net margin deteriorated to ~-35.7% with persistent losses. The balance sheet is stressed with negative equity (-3.86M) and sharply higher debt (33.81M), while cash flow is deeply negative (TTM operating cash flow -16.82M; free cash flow -22.14M), indicating ongoing cash burn and higher funding risk.

Income Statement

22Negative

Balance Sheet

12Very Negative

Cash Flow

18Very Negative

Financial statement breakdown
Breakdown	TTM	Nov 2025	Nov 2024	Nov 2023	Nov 2022	Nov 2021
Income Statement
Total Revenue	29.63M	19.32M	14.24M	12.17M	12.47M	17.18M
Gross Profit	3.23M	3.90M	4.10M	2.64M	3.38M	2.71M
EBITDA	-6.33M	-1.45M	-383.00K	-2.71M	-1.48M	-2.56M
Net Income	-10.59M	-2.17M	-1.15M	-5.43M	-6.74M	-6.27M
Balance Sheet
Total Assets	48.19M	45.89M	9.89M	11.31M	15.67M	31.32M
Cash, Cash Equivalents and Short-Term Investments	8.44M	15.64M	3.08M	3.56M	6.91M	15.22M
Total Debt	33.81M	19.50M	1.66M	1.60M	1.80M	2.06M
Total Liabilities	51.72M	43.00M	7.32M	7.52M	6.38M	15.53M
Stockholders Equity	-3.86M	2.43M	2.56M	3.79M	9.29M	15.79M
Cash Flow
Free Cash Flow	-22.14M	-860.80K	261.00K	-3.12M	-8.13M	-3.69M
Operating Cash Flow	-16.82M	-812.88K	337.00K	-2.85M	-4.68M	-712.00K
Investing Cash Flow	23.21M	11.18M	12.00K	-187.00K	-3.41M	-2.79M
Financing Cash Flow	-961.14K	1.53M	-475.00K	-392.00K	-358.00K	-284.00K

Mindtell Technology Limited Technical Analysis

Technical Analysis SentimentNegative

Last Price0.69

Price Trends

50DMA0.77Negative

100DMA0.76Negative

200DMA0.81Negative

Market Momentum

MACD-0.02Positive

RSI40.45Neutral

STOCH10.65Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:8611, the sentiment is Negative. The current price of 0.69 is below the 20-day moving average (MA) of 0.75, below the 50-day MA of 0.77, and below the 200-day MA of 0.81, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 40.45 is Neutral, neither overbought nor oversold. The STOCH value of 10.65 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:8611.

Mindtell Technology Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

HK:8611 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HK:8319	63Neutral	HKD 83.54M	21.67	1.83%	4.52%	11.00%	-72.41%
Sector *	61Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
HK:1147	61Neutral	HKD 212.67M	30.43	2.87%	1.73%	-5.85%	-93.22%
HK:0046	48Neutral	HKD 286.36M	13.42	4.30%	8.90%	-4.91%	-27.51%
HK:1204	45Neutral	HKD 627.50M	72.67	2.49%	―	11.85%	1128.57%
HK:8611	45Neutral	HKD 408.27M	-16.18	1476.37%	―	19.18%	-212.50%
HK:8229	42Neutral	HKD 363.84M	-7.16	-47.67%	―	-5.37%	-106.05%

* Technology Sector Average

Performance Comparison

HK:8611 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
HK:8611	Mindtell Technology Limited	0.69	-0.16	-18.55%
HK:1147	Edensoft Holdings Limited	0.10	-0.03	-21.80%
HK:1204	BoardWare Intelligence Technology Limited	1.25	-1.13	-47.27%
HK:0046	Computer & Technologies Holdings Ltd.	1.18	-0.27	-18.84%
HK:8229	Future Data Group Ltd.	0.66	0.10	19.09%
HK:8319	Expert Systems Holdings Ltd.	0.10	-0.01	-11.86%

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: Aug 19, 2026

Mindtell Technology Limited AI Stock Analysis

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