Balance sheetRatio

95 Hong Kong Stock Exchange companies holding more cash than all their debt

95companies

Cash and equivalents exceed every borrowing on the balance sheet, so net debt measured against earnings is negative.

Stocks · Non-US shares · Hong Kong Stock Exchange (HKSE) · Ranked by Net debt to EBITDA in times, most cash on the balance sheet first · Rebuilt 2026-11-07 at 09:25 UTC

How this list is built

Net debt is every borrowing on the newest filed balance sheet less cash and equivalents, over EBITDA from the same year's income statement. The list is ordered by how much of the balance sheet is cash, because a near-zero EBITDA makes the ratio enormous without making the company any richer. The screen: companies listed on Hong Kong Stock Exchange, graded A or B for the quality of what they report; a median daily traded value of at least 250,000 US dollars over 90 sessions, stated in each listing's own currency, so a company nobody can trade is never on the list; and no positive price to earnings under 1, which no real company earns, and no close sitting the whole of its own 52-week high below that high, which no listing that still trades can do. 660 companies passed tonight. Each market is ranked on its own and never added to another. Figures as recomputed on 2026-11-07.

The list

50 of 95 companies

Owes less than it holds in cash, ranked by Net debt to EBITDA, most cash on the balance sheet first
#	Company	Market	Sector	Net debt to EBITDA, in times	Debt to equity, in ratio	Current ratio, in ratio	Tangible equity ratio, in ratio	Net debt to EBITDA over time	Source
1	HKSE:8239Capital Finance Holdings Limited	HKSE	Financial Services	-9.0x	6.82	1.79	0.08	Net debt to EBITDA, net debt to ebitda: 15.73 on 2018-12-31 to -9.02 on 2025-12-31, down 157%.	Source n/a
2	HKSE:6090Butong Group	HKSE	Consumer Defensive	-5.2x	0.02	3.30	0.75	Net debt to EBITDA, net debt to ebitda: 0.51 on 2022-12-31 to -5.24 on 2025-12-31, down 1127%.	Source n/a
3	HKSE:1523Plover Bay Technologies Limited	HKSE	Technology	-1.1x	0.20	2.55	0.50	Net debt to EBITDA, net debt to ebitda: -1.69 on 2019-12-31 to -1.12 on 2024-12-31, up 34%.	Source n/a
4	HKSE:2367Giant Biogene Holding Co., Ltd.	HKSE	Consumer Defensive	-2.9x	0.001	11.27	0.91	Net debt to EBITDA, net debt to ebitda: -1.73 on 2024-12-31 to -2.86 on 2025-12-31, down 65%.	Source n/a
5	HKSE:9900Hong Kong Zcloud Technology Construction Limited	HKSE	Industrials	-30.6x	0.003	6.14	0.84	Net debt to EBITDA, net debt to ebitda: -0.15 on 2017-03-31 to -30.65 on 2026-03-31, down 20333%.	Source n/a
6	HKSE:2669China Overseas Property Holdings Limited	HKSE	Real Estate	-3.2x	0.02	100.36	0.44	Net debt to EBITDA, net debt to ebitda: -1.52 on 2022-12-31 to -3.23 on 2025-12-31, down 113%.	Source n/a
7	HKSE:3613Beijing Tong Ren Tang Chinese Medicine Company Limited	HKSE	Healthcare	-3.7x	0.03	19.65	0.90	Net debt to EBITDA, net debt to ebitda: -0.73 on 2018-12-31 to -3.66 on 2025-12-31, down 401%.	Source n/a
8	HKSE:1880China Tourism Group Duty Free Corporation Limited	HKSE	Consumer Cyclical	-4.3x	0.08	5.83	0.73	Net debt to EBITDA, net debt to ebitda: -0.99 on 2020-12-31 to -4.35 on 2025-12-31, down 339%.	Source n/a
9	HKSE:2718Mininglamp-w	HKSE	Technology	-64.4x	0.11	2.54	0.61	Net debt to EBITDA, net debt to ebitda: 3.98 on 2022-12-31 to -64.41 on 2025-12-31, down 1718%.	Source n/a
10	HKSE:1513Livzon Pharmaceutical Group Inc.	HKSE	Healthcare	-2.0x	0.28	2.15	0.55	Net debt to EBITDA, net debt to ebitda: -2.76 on 2020-12-31 to -1.99 on 2024-12-31, up 28%.	Source n/a
11	HKSE:3986Gigadevice	HKSE	Technology	-4.1x	0.01	6.89	0.88	Net debt to EBITDA, net debt to ebitda: -4.99 on 2024-12-31 to -4.10 on 2025-12-31, up 18%.	Source n/a
12	HKSE:8279AGTech Holdings Limited	HKSE	Industrials	-47.1x	0.03	1.06	0.07	Net debt to EBITDA, net debt to ebitda: -2.72 on 2016-12-31 to -47.10 on 2026-03-31, down 1632%.	Source n/a
13	HKSE:2315Biocytogen Pharmaceuticals (Beijing) Co., Ltd.	HKSE	Healthcare	-2.3x	0.27	2.31	0.58	Net debt to EBITDA, net debt to ebitda: 0.62 on 2024-12-31 to -2.33 on 2025-12-31, down 476%.	Source n/a
14	HKSE:6166Cig	HKSE	Technology	-5.0x	0.28	2.29	0.60	Net debt to EBITDA, net debt to ebitda: 1.50 on 2021-12-31 to -5.05 on 2025-12-31, down 437%.	Source n/a
15	HKSE:2038FIH Mobile Limited	HKSE	Technology	-9.8x	0.24	1.29	0.38	Net debt to EBITDA, net debt to ebitda: -4.02 on 2019-12-31 to -9.83 on 2024-12-31, down 145%.	Source n/a
16	HKSE:0811Xinhua Winshare Publishing and Media Co., Ltd.	HKSE	Communication Services	-6.2x	0.02	1.78	0.64	Net debt to EBITDA, net debt to ebitda: -3.57 on 2020-12-31 to -6.24 on 2025-12-31, down 75%.	Source n/a
17	HKSE:1347Hua Hong Semiconductor Limited	HKSE	Technology	-5.6x	0.36	3.73	0.50	Net debt to EBITDA, net debt to ebitda: -1.39 on 2019-12-31 to -5.59 on 2024-12-31, down 302%.	Source n/a
18	HKSE:3750Contemporary Amperex Technology Co., Limited	HKSE	Industrials	-2.0x	0.29	1.60	0.34	Net debt to EBITDA, net debt to ebitda: -3.35 on 2020-12-31 to -2.01 on 2025-12-31, up 40%.	Source n/a
19	HKSE:0990Deep Source Holdings Limited	HKSE	Basic Materials	-9.7x	0.08	1.39	0.32	Net debt to EBITDA, net debt to ebitda: 0.17 on 2019-12-31 to -9.70 on 2025-12-31, down 5806%.	Source n/a
20	HKSE:2359WuXi AppTec Co., Ltd.	HKSE	Healthcare	-1.0x	0.10	3.21	0.77	Net debt to EBITDA, net debt to ebitda: 0.14 on 2019-12-31 to -0.97 on 2025-12-31, down 793%.	Source n/a
21	HKSE:0806Value Partners Group Limited	HKSE	Financial Services	-2.0x	0.02	137.75	0.91	n/a	Source n/a
22	HKSE:1919COSCO SHIPPING Holdings Co., Ltd.	HKSE	Industrials	-1.4x	0.33	1.51	0.47	Net debt to EBITDA, net debt to ebitda: 4.74 on 2019-12-31 to -1.37 on 2025-12-31, down 129%.	Source n/a
23	HKSE:1712Dragon Mining Limited	HKSE	Basic Materials	-0.9x	0.002	6.50	0.74	Net debt to EBITDA, net debt to ebitda: -1.78 on 2016-12-31 to -0.87 on 2025-12-31, up 51%.	Source n/a
24	HKSE:1126Dream International Limited	HKSE	Consumer Cyclical	-1.5x	0.03	3.26	0.76	Net debt to EBITDA, net debt to ebitda: -0.54 on 2018-12-31 to -1.53 on 2025-12-31, down 183%.	Source n/a
25	HKSE:1836Stella International Holdings Limited	HKSE	Consumer Cyclical	-1.8x	0.01	3.20	0.77	Net debt to EBITDA, net debt to ebitda: -0.40 on 2019-12-31 to -1.82 on 2024-12-31, down 355%.	Source n/a
26	HKSE:3606Fuyao Glass Industry Group Co., Ltd.	HKSE	Consumer Cyclical	-0.6x	0.34	2.02	0.55	Net debt to EBITDA, net debt to ebitda: -0.33 on 2015-12-31 to -0.59 on 2024-12-31, down 79%.	Source n/a
27	HKSE:0501OmniVision Integrated Circuits Group, Inc.	HKSE	Technology	-1.5x	0.13	2.10	0.58	Net debt to EBITDA, net debt to ebitda: 0.41 on 2020-12-31 to -1.46 on 2025-12-31, down 456%.	Source n/a
28	HKSE:2259Zijin Gold International Company Limited	HKSE	Basic Materials	-0.8x	0.08	4.09	0.67	Net debt to EBITDA, net debt to ebitda: 0.73 on 2022-12-31 to -0.85 on 2025-12-31, down 216%.	Source n/a
29	HKSE:2507Cirrus Aircraft Limited	HKSE	Industrials	-1.7x	0.09	1.62	0.41	Net debt to EBITDA, net debt to ebitda: -0.76 on 2021-12-31 to -1.66 on 2024-12-31, down 118%.	Source n/a
30	HKSE:0317CSSC Offshore & Marine Engineering (Group) Company Limited	HKSE	Industrials	-10.6x	0.27	1.22	0.32	Net debt to EBITDA, net debt to ebitda: 1.63 on 2016-12-31 to -10.62 on 2024-12-31, down 752%.	Source n/a
31	HKSE:0710BOE Varitronix Limited	HKSE	Technology	-7.1x	0.07	1.40	0.39	Net debt to EBITDA, net debt to ebitda: -8.17 on 2017-12-31 to -7.11 on 2025-12-31, up 13%.	Source n/a
32	HKSE:0815China Silver Group Limited	HKSE	Basic Materials	-2.2x	0.87	2.44	0.23	Net debt to EBITDA, net debt to ebitda: -0.91 on 2016-12-31 to -2.17 on 2024-12-31, down 138%.	Source n/a
33	HKSE:0241Alibaba Health Information Technology Limited	HKSE	Healthcare	-3.9x	0.003	3.03	0.76	n/a	Source n/a
34	HKSE:1066Shandong Weigao Group Medical Polymer Company Limited	HKSE	Healthcare	-1.1x	0.25	3.78	0.62	Net debt to EBITDA, net debt to ebitda: 0.39 on 2019-12-31 to -1.06 on 2025-12-31, down 372%.	Source n/a
35	HKSE:1258China Nonferrous Mining Corporation Limited	HKSE	Basic Materials	-1.1x	0.02	2.76	0.54	Net debt to EBITDA, net debt to ebitda: 2.04 on 2016-12-31 to -1.12 on 2024-12-31, down 155%.	Source n/a
36	HKSE:1205CITIC Resources Holdings Limited	HKSE	Energy	-0.1x	0.40	1.63	0.60	Net debt to EBITDA, net debt to ebitda: 24.63 on 2016-12-31 to -0.06 on 2025-12-31, down 100%.	Source n/a
37	HKSE:2342Comba Telecom Systems Holdings Limited	HKSE	Technology	-2.4x	0.27	1.69	0.39	Net debt to EBITDA, net debt to ebitda: -0.03 on 2019-12-31 to -2.43 on 2025-12-31, down 8000%.	Source n/a
38	HKSE:0697Shoucheng Holdings Limited	HKSE	Industrials	-1.4x	0.27	6.32	0.70	Net debt to EBITDA, net debt to ebitda: -43.45 on 2018-12-31 to -1.39 on 2025-12-31, up 97%.	Source n/a
39	HKSE:1308SITC International Holdings Company Limited	HKSE	Industrials	-0.3x	0.16	1.88	0.75	Net debt to EBITDA, net debt to ebitda: -0.35 on 2017-12-31 to -0.29 on 2024-12-31, up 17%.	Source n/a
40	HKSE:3316Binjiang Service Group Co. Ltd.	HKSE	Real Estate	-1.3x	0.002	1.16	0.36	n/a	Source n/a
41	HKSE:0874Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited	HKSE	Healthcare	-1.2x	0.34	1.48	0.41	Net debt to EBITDA, net debt to ebitda: -2.34 on 2019-12-31 to -1.20 on 2024-12-31, up 49%.	Source n/a
42	HKSE:0345Vitasoy International Holdings Limited	HKSE	Consumer Defensive	-0.8x	0.17	1.27	0.54	Net debt to EBITDA, net debt to ebitda: -0.59 on 2017-03-31 to -0.85 on 2026-03-31, down 44%.	Source n/a
43	HKSE:0135Kunlun Energy Company Limited	HKSE	Energy	-0.7x	0.32	1.73	0.47	Net debt to EBITDA, net debt to ebitda: 1.07 on 2016-12-31 to -0.66 on 2025-12-31, down 162%.	Source n/a
44	HKSE:0179Johnson Electric Holdings Limited	HKSE	Consumer Cyclical	-0.9x	0.14	2.39	0.65	Net debt to EBITDA, net debt to ebitda: 0.62 on 2017-03-31 to -0.89 on 2026-03-31, down 244%.	Source n/a
45	HKSE:1860Mobvista Inc.	HKSE	Communication Services	-0.3x	0.59	0.87	-0.05	Net debt to EBITDA, net debt to ebitda: -2.62 on 2016-12-31 to -0.32 on 2024-12-31, up 88%.	Source n/a
46	HKSE:6808Sun Art Retail Group Limited	HKSE	Consumer Cyclical	-1.2x	0.43	0.82	0.35	Net debt to EBITDA, net debt to ebitda: -0.98 on 2023-03-31 to -1.16 on 2026-03-31, down 18%.	Source n/a
47	HKSE:0303Vtech Holdings Limited	HKSE	Technology	-0.6x	0.20	1.89	0.48	Net debt to EBITDA, net debt to ebitda: -0.42 on 2021-03-31 to -0.60 on 2026-03-31, down 43%.	Source n/a
48	HKSE:6198Qingdao Port International Co., Ltd.	HKSE	Industrials	-1.3x	0.09	1.98	0.66	Net debt to EBITDA, net debt to ebitda: -1.23 on 2017-12-31 to -1.30 on 2024-12-31, down 6%.	Source n/a
49	HKSE:1876Budweiser Brewing Company APAC Limited	HKSE	Consumer Defensive	-1.7x	0.03	0.99	0.37	Net debt to EBITDA, net debt to ebitda: -0.67 on 2020-12-31 to -1.69 on 2025-12-31, down 152%.	Source n/a
50	HKSE:0285BYD Electronic (International) Company Limited	HKSE	Technology	-0.8x	0.26	1.17	0.36	Net debt to EBITDA, net debt to ebitda: -0.09 on 2020-12-31 to -0.83 on 2025-12-31, down 822%.	Source n/a

This is the top of the list. The rest is a page away and no plan is needed for it.

Filed figures cite the filing they come from; figures marked Market data are quotes as of the date shown. Not a recommendation and not advice.

Past figures are not a forecast. Anything we modelled is labelled as ours. You can lose money on any security.