1188.Hk
The company operates in the Auto & Truck Manufacturers industry, producing and selling vehicles and related components, generating revenue primarily through vehicle sales and after-sales services.
Business. The company operates in the Auto & Truck Manufacturers industry, producing and selling vehicles and related components, generating revenue primarily through vehicle sales and after-sales services.
At a glance
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- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
The company operates in the Auto & Truck Manufacturers industry, producing and selling vehicles and related components, generating revenue primarily through vehicle sales and after-sales services.
The company's capital structure is highly leveraged, with total liabilities of HKD 15.91 billion and total equity of HKD -10.61 billion, resulting in a negative equity position. The debt-to-equity ratio is -0.73, indicating that the company is financed more by debt than equity, and the current ratio of 0.86 suggests that the company may struggle to meet short-term obligations with its current assets. The liquidity risk is rated as medium, with a key flag indicating that the company has negative net cash after subtracting total debt.
Profitability metrics show mixed results. The company reported a net income of HKD 36.83 billion, but its return on equity is negative at -34.71%, indicating that the company is generating losses relative to its equity base. Return on assets is positive at 6.95%, suggesting that the company is generating a modest return on its asset base. However, these figures fall below the industry median for return on equity and return on assets, indicating underperformance relative to peers.
The company's revenue is concentrated in a single business segment, with no disclosed geographic diversification in the provided data. This lack of diversification increases exposure to regional economic downturns and regulatory changes, which could impact revenue stability.
The company's growth trajectory is uncertain. Analyst estimates for the most recent period show a revenue of HKD 1.02 billion, but the company's reported revenue is HKD 55.58 billion, indicating a significant discrepancy. The outlook for the current fiscal year is not provided, but the company's financial performance suggests a need for strategic adjustments to improve profitability and liquidity.
Risk factors include a high level of debt and negative equity, which could lead to financial distress if not managed effectively. The dilution risk is rated as low, with no immediate pressure for additional equity issuance. However, the company's negative equity position may necessitate future capital raising, which could dilute existing shareholders.
Recent events include the latest financial report, which shows a net income of HKD 36.83 billion and a negative equity position. No recent filings or transcripts are provided, but the financial data indicates a need for closer monitoring of the company's liquidity and debt management strategies.
- The company has a negative equity position and a high debt-to-equity ratio, indicating significant financial leverage and potential liquidity risk.
- Return on equity is negative, suggesting poor performance relative to its equity base, while return on assets is modestly positive.
- Revenue is concentrated in a single business segment, increasing exposure to regional and sector-specific risks.
- The company's reported revenue significantly exceeds analyst estimates, indicating potential discrepancies or volatility in financial reporting.
- The company faces a medium liquidity risk and may need to address its debt structure to avoid financial distress.
Bull / Bear case
analysis pipelineIn focus — financials by report
Valuation
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
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Earnings-call key lines
Estimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Net cash is negative after subtracting total debt.
Benchmarks vs cohort
Corporate actions / M&A
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- Market data
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- Consensus estimates
- ESG data
- Dilution Ratio(shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
- Net Cashcash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
- Return On Equitynet_income / total_equity
- Debt To Equity(short_term_debt + long_term_debt) / total_equity
- Return On Assetsnet_income / total_assets
- 1188.HK Market data — financials · 2026-05-26
- Hybrid Kinetic Group Ltd Market data — analyst estimates · 2026-05-26
Ownership & reference
Leadership
- Rui FengChief Executive Officer, Executive Director
- Yung YeungExecutive Chairman of the Board