Chenqi Technology Ltd. (9680) AI Stock Analysis

• Market Cap: HK$2.35B
• Dividend Yield: N/A
• Average Volume (3M): 123.05K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.85
• Revenue Growth: 35.41%
• EPS Growth: 75.23%
• Country: HK
• Employees: 465
• Sector: Technology
• Sector Strength: 88
• Industry: Rental & Leasing Services
• EPS (TTM): -1.24
• Shares Outstanding: 204,113,850
• 10 Day Avg. Volume: 80,750
• 30 Day Avg. Volume: 123,053
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: HK$11.00
• Price Target Upside: -4.35% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 44 Neutral
• Price Target: HK$11.00 ▼(-4.35% Downside)

Chenqi Technology Ltd. faces significant financial challenges, particularly in profitability and cash flow, which heavily impact its overall score. While there are some positive technical indicators, the negative valuation metrics further weigh down the stock's attractiveness.

Chenqi Technology Ltd. Business Overview & Revenue Model

Company Description

Chenqi Technology Limited operates as a mobility technology and service company in China. It operates through three segments: Mobility Services Business, Technology Services Business, and Fleet Management and Services Business. The Mobility Services Business segment provides ride-hailing, Robotaxi, hitch, and other related services. The Technology Services Business offers AI data and model solutions, including data collection, data annotation, data management, and model training; high-definition map solutions; and smart transportation solutions. The Fleet Management and Services Business provides repair and maintenance, and other related services, such as cash wash and EV charging; and sells vehicles. It serves corporate customers, automobile OEMs, vehicle service providers, riders, drivers, and autonomous driving solution providers. The company was incorporated in 2019 and is headquartered in Guangzhou, China.

How the Company Makes Money

Chenqi Technology Ltd. generates revenue primarily through the sale of its software and hardware products. The company's revenue model is built on a combination of direct sales to consumers and enterprises, licensing agreements for its proprietary technologies, and long-term service contracts for maintenance and support. Key revenue streams include the sale of telecommunications equipment, consumer electronics devices, and enterprise software solutions. Additionally, Chenqi Technology Ltd. has established significant partnerships with leading industry players, which enhance its market reach and contribute to its earnings. The company also invests in research and development to drive innovation and maintain a competitive edge, which in turn supports sustained revenue growth.

Chenqi Technology Ltd. Financial Statement Overview

Summary

Chenqi Technology Ltd. is experiencing revenue growth, but persistent profitability and cash flow challenges are concerning. The improvement in the balance sheet shows a positive trend, but the company needs to address its operational inefficiencies and cash management to achieve sustainable financial health.

Income Statement

Chenqi Technology Ltd. has shown consistent revenue growth, with a notable increase of 13.99% from 2023 to 2024. However, the company is struggling with profitability, evidenced by persistent negative gross profit and net income margins. The EBIT and EBITDA margins are also deeply negative, indicating challenges in managing operating expenses relative to revenue.

Balance Sheet

The company has a positive equity position in 2024, a significant improvement from the negative equity in previous years. The debt-to-equity ratio is low, suggesting low leverage, but the return on equity remains negative due to ongoing losses. The equity ratio has improved, indicating a more stable financial structure.

Cash Flow

Chenqi Technology Ltd. continues to face significant cash flow challenges, with negative operating and free cash flows. The company did see financing inflows in 2024, but free cash flow remains negative, highlighting the need for better cash management. The operating cash flow to net income ratio indicates inefficiencies in converting income to cash.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.46B	2.16B	1.37B	1.01B
Gross Profit	-35.40M	-150.44M	-145.91M	-245.12M
EBITDA	-464.78M	-654.98M	-601.38M	-668.91M
Net Income	-564.18M	-692.79M	-626.78M	-684.63M
Balance Sheet
Total Assets	1.38B	923.04M	767.54M	188.48M
Cash, Cash Equivalents and Short-Term Investments	1.02B	619.75M	553.67M	86.98M
Total Debt	38.88M	68.96M	57.78M	35.67M
Total Liabilities	272.34M	2.35B	1.52B	340.22M
Stockholders Equity	1.11B	-1.43B	-749.64M	-151.74M
Cash Flow
Free Cash Flow	-537.18M	-624.81M	-715.69M	-463.99M
Operating Cash Flow	-529.88M	-583.13M	-665.82M	-442.98M
Investing Cash Flow	13.14M	-27.19M	-37.61M	-10.16M
Financing Cash Flow	906.96M	673.01M	1.16B	4.53M

Chenqi Technology Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 11.50
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9680, the sentiment is Neutral. The current price of 11.5 is below the 20-day moving average (MA) of 11.59, above the 50-day MA of 11.36, and above the 200-day MA of 11.28, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 49.25 is Neutral, neither overbought nor oversold. The STOCH value of 28.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:9680.

Chenqi Technology Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9930	73 Outperform	HK$3.93B	5.41	7.35%	7.72%	7.48%	-32.35%
1581	69 Neutral	HK$70.14M	2.06	11.73%	―	25.43%	53.36%
1496	68 Neutral	HK$133.06M	10.92	5.19%	5.58%	-7.95%	17.50%
8425	52 Neutral	HK$25.94M	-1.05	-26.79%	―	-1.62%	-4280.00%
1341	50 Neutral	HK$2.40B	-10.44	-21.76%	―	-16.18%	59.05%
9680	44 Neutral	HK$2.35B	―	―	―	35.41%	75.23%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%

Chenqi Technology Ltd. Corporate Events

Chenqi Technology Ltd. Reports Improved Interim Results for 2025

Chenqi Technology Ltd. reported a significant improvement in its financial performance for the first half of 2025, with a 61.7% increase in revenue compared to the same period in 2024. The company also reduced its operational losses by 51.4% and saw a substantial increase in gross profit. Key operational metrics showed growth, with a notable rise in gross transaction value and order volume, indicating a strengthening position in the mobility services market.

The most recent analyst rating on (HK:9680) stock is a Hold with a HK$11.50 price target. To see the full list of analyst forecasts on Chenqi Technology Ltd. stock, see the HK:9680 Stock Forecast page.

Chenqi Technology Schedules Board Meeting to Review Interim Results

Chenqi Technology Limited has announced a board meeting scheduled for August 26, 2025, to review and approve the interim financial results for the first half of the year ending June 30, 2025. The meeting will also consider the possibility of declaring an interim dividend, which could have implications for the company’s financial strategy and shareholder value.