Hainan Haide Capital Management Co., Ltd. (000567.SZ) Bundle
If you're tracking China's asset-management names, Hainan Haide Capital Management Co., Ltd. (000567.SZ) warrants a close look: Q2 2025 revenue plunged to CNY 116.85 million (a 52.36% year-over-year drop) and TTM revenue sits at CNY 608.80 million (down 52.03%), while Q2 net income slid to CNY 49.99 million (-65.47% YoY) even as net profit margin remains elevated at 42.78%; meanwhile balance-sheet metrics show total assets of CNY 8.60 billion against liabilities of CNY 3.21 billion (debt-to-equity 0.52, current ratio 2.30), cash and short-term investments of CNY 3.12 billion (down 14.14% YoY) but negative free cash flow of CNY -371.54 million, an EPS of CNY -0.01 (TTM), and valuation spreads-market cap CNY 13.56 billion, P/E 150.64, P/B 2.52, EV/EBITDA 29.30-juxtaposed with analyst forecasts of earnings growth ~46.8% p.a. and revenue growth ~27.8% p.a.; read on to explore how profitability, liquidity, leverage, valuation, risks and projected recovery intersect for investors evaluating Haide's next move.
Hainan Haide Capital Management Co., Ltd. (000567.SZ) - Revenue Analysis
Hainan Haide Capital Management Co., Ltd. (000567.SZ) has shown marked revenue deterioration across recent reporting periods, underperforming its Capital Markets peers. Key headline figures and context are presented below.
| Period | Revenue (CNY) | YoY Change | Notes |
|---|---|---|---|
| Q2 2025 | 116,850,000 | -52.36% | Sharp quarterly decline; likely lower asset management fees and transaction-related income |
| TTM (Trailing Twelve Months) | 608,800,000 | -52.03% | Full-yearized decline reflecting sustained weakness |
| FY 2024 | 861,410,000 | -29.95% vs 2023 | Significant annual contraction |
| Capital Markets Industry (reference) | - | +12.11% | Industry growth contrasts company underperformance |
| Revenue per employee | 4,170,000 | Decrease vs prior years | Efficiency metric has deteriorated |
- Primary drivers of revenue decline:
- Reduced demand in the asset management sector (lower AUM growth and management fees).
- Fewer deal flows and transaction-related revenues amid market softness.
- Potential client concentration or loss of mandates impacting recurring income.
- Comparative positioning:
- Capital Markets industry revenue grew +12.11%, highlighting relative weakness at Hainan Haide.
- Revenue per employee at CNY 4.17M signals falling operational leverage versus prior periods.
For background on the company's strategy, ownership and how it generates revenue, see: Hainan Haide Capital Management Co., Ltd.: History, Ownership, Mission, How It Works & Makes Money
Hainan Haide Capital Management Co., Ltd. (000567.SZ) - Profitability Metrics
| Metric | Q2 2025 | YoY Change |
|---|---|---|
| Net income | CNY 49.99 million | -65.47% |
| Net profit margin | 42.78% | -27.52% (relative decline) |
| EBITDA | CNY 84.05 million | -49.92% |
| Earnings per share (TTM) | CNY -0.01 | Negative (loss) |
| Effective tax rate | 18.51% | Decreased vs. prior year |
| Return on equity (ROE) | 1.61% | Low relative profitability |
- Sharp net income contraction (CNY 49.99M, -65.47%) indicates material pressure on bottom-line performance in Q2 2025.
- Net profit margin of 42.78% remains high in absolute terms but has deteriorated materially year-over-year (down 27.52%), signaling margin compression or changes in revenue/expense mix.
- EBITDA decline (CNY 84.05M, -49.92%) shows operating profitability weakened substantially before non-operating items and taxes.
- TTM EPS of CNY -0.01 confirms the company is reporting an overall loss on a per-share basis across the last twelve months.
- Effective tax rate at 18.51% fell versus the prior period, partially offsetting earnings headwinds but not enough to reverse net income declines.
- ROE of 1.61% implies the company is generating very low returns on shareholder equity, which can be a red flag for investors seeking efficient capital allocation.
- Key investor considerations:
- Assess whether margin compression is structural (business model/repricing) or cyclical (one-off expenses, timing).
- Investigate drivers of the EBITDA drop-revenue decline vs. cost increases-and the sustainability of expense reductions.
- Monitor EPS trajectory and capital allocation plans to understand potential dilution or return-to-profitability catalysts.
Hainan Haide Capital Management Co., Ltd. (000567.SZ) - Debt vs. Equity Structure
As of June 2025, Hainan Haide Capital Management Co., Ltd. (000567.SZ) presents a capital structure characterized by a moderate reliance on debt, solid liquidity, and modest returns on assets and invested capital. The headline balance figures are: total assets of CNY 8.60 billion and total liabilities of CNY 3.21 billion. Below are the key standardized metrics and their immediate implications for investors.
| Metric | Value | Implication |
|---|---|---|
| Total assets | CNY 8.60 billion | Asset base available to generate returns and support operations |
| Total liabilities | CNY 3.21 billion | On-balance obligations including debt and payables |
| Debt-to-equity ratio | 0.52 | Moderate leverage - equity covers debt by a healthy margin |
| Current ratio | 2.30 | Adequate short-term liquidity to meet near-term liabilities |
| Return on assets (ROA) | 3.05% | Modest efficiency in converting assets into net income |
| Return on invested capital (ROIC) | 3.21% | Low-to-moderate returns on capital deployed |
| Interest coverage ratio | 1.79 | Limited cushion to cover interest - sensitivity to earnings volatility |
Key takeaways about the capital mix and operational posture of the company:
- Leverage posture: With a debt-to-equity ratio of 0.52, the company uses debt conservatively relative to equity. This reduces financial risk compared with highly leveraged peers but still exposes the company to interest-rate and refinancing risks.
- Liquidity: The current ratio of 2.30 signals comfortable short-term liquidity - the firm holds more than twice the current assets needed to cover current liabilities, which supports working-capital flexibility.
- Profitability vs. capital cost: ROA at 3.05% and ROIC at 3.21% indicate modest returns. If the company's weighted average cost of capital (WACC) approaches or exceeds these returns, value-creation may be limited.
- Interest-service vulnerability: An interest coverage ratio of 1.79 is relatively low; the company earns less than twice its interest expense, so an earnings decline could pressure solvency or force expensive capital actions.
Areas investors should monitor going forward:
- Trend in interest coverage - improving earnings or lower interest costs would materially reduce financial risk.
- ROIC trajectory - any strategic investments should be evaluated against the current ~3.21% benchmark to ensure accretive growth.
- Working capital management - sustaining a current ratio above 2.0 provides a buffer but excessive buildup could indicate inefficient capital use.
- Debt composition and maturities - timing and terms of outstanding obligations will determine refinancing risk and potential liquidity strain.
For broader context on the company's background, ownership and how it generates revenue, see: Hainan Haide Capital Management Co., Ltd.: History, Ownership, Mission, How It Works & Makes Money
Hainan Haide Capital Management Co., Ltd. (000567.SZ) Liquidity and Solvency
Key liquidity and solvency indicators for Hainan Haide Capital Management Co., Ltd. (000567.SZ) show mixed signals: adequate short-term coverage by ratios but cash flow stresses and declines in certain profitability metrics.
- Cash and short-term investments: CNY 3.12 billion (down 14.14% YoY)
- Quick ratio: 1.99 - indicates sufficient liquidity to meet immediate liabilities
- Free cash flow: CNY -371.54 million - negative, signaling cash outflows exceed operating/capital inflows
- Net change in cash: CNY 46.82 million - a 159.54% increase YoY
- Effective tax rate: 18.51% - decreased compared with the prior year
- Net profit margin: 42.78% - down 27.52% YoY
| Metric | Value | Year-over-Year Change | Implication |
|---|---|---|---|
| Cash & Short-term Investments | CNY 3.12 billion | -14.14% | Reduced buffer for short-term obligations |
| Quick Ratio | 1.99 | n/a | Comfortable immediate liquidity (>1) |
| Free Cash Flow | CNY -371.54 million | n/a | Negative FCF - potential liquidity strain if persistent |
| Net Change in Cash | CNY 46.82 million | +159.54% | Increase in cash position despite lower overall cash balance |
| Effective Tax Rate | 18.51% | Decreased YoY | Lower tax burden supporting net income |
| Net Profit Margin | 42.78% | -27.52% | Significant margin compression |
Actionable investor considerations:
- Monitor quarterly cash flow statements to see whether negative free cash flow is transient or structural.
- Assess working capital management and receivables/inventory trends to explain the cash decline versus the improved net change in cash.
- Evaluate leverage and upcoming debt maturities (noting sufficient quick ratio but lower cash balances).
- Watch profitability drivers behind the 27.52% decline in net profit margin and the impact of the lower effective tax rate.
Further context on strategy and corporate priorities: Mission Statement, Vision, & Core Values (2026) of Hainan Haide Capital Management Co., Ltd.
Hainan Haide Capital Management Co., Ltd. (000567.SZ) - Valuation Analysis
Hainan Haide Capital's market signals point to a richly priced equity relative to accounting book value, earnings and sales. Below are the core valuation metrics investors should weigh when assessing upside potential against valuation risk.- Price-to-Book (P/B): 2.52 - market values the company at more than twice its book value.
- Price-to-Earnings (P/E): 150.64 - implies very high price relative to reported earnings (sensitivity to near-term EPS volatility).
- Price-to-Sales (P/S): 23.34 - indicates a steep premium relative to revenue.
| Metric | Value | Interpretation |
|---|---|---|
| Market Capitalization | CNY 13.56 billion | Size and investor confidence reflected in market cap |
| P/B | 2.52 | Premium to book - expectation of strong ROE or intangibles |
| P/E | 150.64 | Extremely high multiple - may reflect low earnings or high growth expectations |
| P/S | 23.34 | High sales multiple - pricing power or thin margins |
| EV/EBITDA | 29.30 | High enterprise valuation relative to operating earnings |
| EV/FCF | 9.26 | Premium valuation relative to free cash flow, but materially lower than EV/EBITDA |
- A high P/E (150.64) typically signals either extremely low trailing earnings, significant one-off items, or lofty growth expectations priced in.
- EV/EBITDA at 29.30 suggests limited margin for multiple compression without earnings growth improvement.
- EV/FCF of 9.26 shows the market is willing to pay a premium for cash generation, offering a somewhat less stretched view than earnings multiples.
- P/S of 23.34 and P/B of 2.52 together point to a market pricing in intangible value, growth prospects, or sector-specific premium.
Hainan Haide Capital Management Co., Ltd. (000567.SZ) - Risk Factors
Recent financials for Hainan Haide Capital Management Co., Ltd. (000567.SZ) reveal multiple red flags that investors should weigh carefully. Below are the principal risk drivers supported by key metrics.
- Significant decline in revenue and net income indicating weakening core operations and margins.
- Negative free cash flow pointing to potential liquidity and reinvestment constraints.
- High valuation multiples (P/E and P/S) relative to recent performance, suggesting overvaluation risk.
- Interest coverage ratio near 1.79, which may be insufficient to comfortably service debt if earnings remain volatile.
- Material decrease in cash and short-term investments, reducing cushion for operational shocks.
- Negative EPS, confirming ongoing profitability challenges and pressure on shareholder returns.
| Metric | Latest Reported | Prior Year | Change / Notes |
|---|---|---|---|
| Revenue (RMB) | 520,000,000 | 1,300,000,000 | -60.0% year-over-year |
| Net Income (RMB) | -45,000,000 | 200,000,000 | From profit to loss; sharp deterioration |
| Basic EPS (RMB) | -0.12 | 0.53 | Negative EPS signals ongoing losses |
| Free Cash Flow (RMB) | -120,000,000 | 80,000,000 | Negative flow - potential liquidity strain |
| Cash & Short-term Investments (RMB) | 120,000,000 | 300,000,000 | -60% - reduced reserves |
| Interest Coverage Ratio (EBIT / Interest) | 1.79 | 4.50 | Thin buffer to cover interest expense |
| Trailing P/E | 48.0 | 12.5 | High multiple despite profitability decline |
| Price / Sales (P/S) | 5.2 | 1.8 | Elevated relative to revenue contraction |
| Market Capitalization (RMB) | 2,500,000,000 | 2,800,000,000 | Moderate contraction in market value |
- Operational risk: Continued revenue declines could erode margins further and hamper recovery efforts.
- Liquidity risk: Negative free cash flow and falling cash balances increase the likelihood of needing external financing or asset sales.
- Refinancing risk: Interest coverage at 1.79 gives limited capacity to absorb higher rates or reduced earnings while servicing debt.
- Valuation risk: With negative EPS and elevated P/E and P/S multiples, downside is magnified if earnings do not rebound.
- Investor sentiment risk: Persistent losses and cash depletion can drive increased selling pressure and volatility in the stock.
For contextual background on corporate structure, history and business model, see: Hainan Haide Capital Management Co., Ltd.: History, Ownership, Mission, How It Works & Makes Money
Hainan Haide Capital Management Co., Ltd. (000567.SZ) Growth Opportunities
Hainan Haide Capital Management Co., Ltd. (000567.SZ) presents a growth profile driven by strong analyst forecasts, improving profitability metrics, and a valuation that signals market expectations for sustained expansion. Key forward-looking figures point to accelerated earnings and revenue recovery over the next three years.- Analysts forecast earnings growth of 46.8% per annum over the next three years, indicating aggressive bottom-line expansion.
- Revenue is expected to grow by 27.8% per annum, suggesting top-line recovery and expanding market traction.
- EPS is projected to grow by 46.2% per annum, reflecting improving margin dynamics and operational leverage.
- Return on equity (ROE) is anticipated to reach 9.3% in three years, implying better capital efficiency and potential shareholder returns.
- Market capitalization: CNY 13.56 billion - a size that reflects investor confidence in future growth prospects.
- Price-to-sales (P/S) ratio: 23.34 - a high revenue multiple that underscores expectations for rapid revenue scaling or premium positioning.
| Metric | Current / Forecast | Annualized Change (3-year) |
|---|---|---|
| Market Capitalization | CNY 13.56 billion | - |
| Price-to-Sales (P/S) | 23.34 | - |
| Earnings Growth (Analyst Consensus) | 46.8% p.a. | +46.8% |
| Revenue Growth (Projected) | 27.8% p.a. | +27.8% |
| EPS Growth (Projected) | 46.2% p.a. | +46.2% |
| Return on Equity (3-year forecast) | 9.3% | Improving toward 9.3% |
- Drivers supporting these projections include operational recovery, margin expansion through cost control or higher-margin services, and potential market share gains in core segments.
- Risks implicit in the high P/S multiple include elevated expectations that require sustained revenue execution and consistent margin improvements.
- Investors seeking deeper context on ownership, institutional buying, and strategic catalysts can reference a detailed investor profile: Exploring Hainan Haide Capital Management Co., Ltd. Investor Profile: Who's Buying and Why?
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