Added to YB: 2026-08-28
Pitch date: 2026-08-26
6687.HK [bullish]
JST Group Corporation Limited
+0.39%
current return
Author Info
No bio for this author
Company Info
JST Group Corporation Limited, together with its subsidiaries, provides e-commerce Software as a Service (SaaS) in China.
Market Cap
HKD 5.5B
Pitch Price
HKD 15.30
Price Target
N/A
Dividend
N/A
EV/EBITDA
22.44
P/E
-1.77
EV/Sales
2.10
Sector
Software
Category
growth
Market Leadership, Operating Leverage, and a Mispriced Stock - JST Group Corporation Limited
6687.HK: JST’s mission-critical ERP serves about 113,000 Chinese e-commerce merchants; in 2025, SaaS customers grew 28%, synergy-product revenue rose 65% and cost of sales rose only 5%, evidencing operating leverage, while 2024 net revenue retention was 115%. At roughly 13x estimated 2026 adjusted earnings — or potentially 5–7x for the operating business after a reasonable cash adjustment — the payoff is earnings scale and effective deployment of excess cash. The main risk is cash misallocation or treasury-share recycling that offsets buybacks; legacy-holder sales may prolong the discount.
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