Kangqiao Service Group (HKSE:02205) Scaled Net Operating Assets: 0.38 (As of Dec. 2025)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

HKSE:02205 Kangqiao Service Group Ltd HKSE:02205
61 GF Score
Price HK$0.58
GF Value HK$0.74
Valuation Modestly Undervalued
! 5 Warning Signs
View Full Analysis

What is Kangqiao Service Group Scaled Net Operating Assets?

Kangqiao Service Group HKSE:02205 61 Scaled Net Operating Assets is 0.38 as of Dec. 2025. GuruFocus rates HKSE:02205 with a GF Score™ of 61/100 and a GF Value™ of HK$0.74 (Modestly Undervalued). The stock has 5 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Kangqiao Service Group's operating assets for the quarter that ended in Dec. 2025 was HK$2,073 Mil. Kangqiao Service Group's operating liabilities for the quarter that ended in Dec. 2025 was HK$1,409 Mil. Kangqiao Service Group's Total Assets for the quarter that ended in Jun. 2025 was HK$1,749 Mil. Therefore, Kangqiao Service Group's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.38.


Kangqiao Service Group Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Kangqiao Service Group's Scaled Net Operating Assets can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Kangqiao Service Group Scaled Net Operating Assets Chart

Kangqiao Service Group Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial 0.17 0.30 0.35 0.51 0.41

Kangqiao Service Group Semi-Annual Data
Dec18 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Scaled Net Operating Assets Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.33 0.34 0.48 0.46 0.38

HKSE:02205 vs CBRE, BEKE, JLL: Scaled Net Operating Assets Comparison

For the Real Estate Services subindustry, Kangqiao Service Group's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Kangqiao Service Group Scaled Net Operating Assets vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Kangqiao Service Group's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Kangqiao Service Group's Scaled Net Operating Assets falls into.


HKSE:02205
61GF Score
Kangqiao Service Group Ltd HKSE:02205
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Kangqiao Service Group Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Kangqiao Service Group's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(2072.646-1409.341)/1618.962
=0.41

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=2246.783 - 174.137
=2072.646

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=1420.574 - 4.674 - 6.559
=1409.341

Kangqiao Service Group's Scaled Net Operating Assets (SNOA) for the quarter that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Dec. 2025 )
=(Operating Assets (Q: Dec. 2025 )-Operating Liabilities (Q: Dec. 2025 ))/Total Assets (Q: Jun. 2025 )
=(2072.646-1409.341)/1749.018
=0.38

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=2246.783 - 174.137
=2072.646

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=1420.574 - 4.674 - 6.559
=1409.341

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

What does a Scaled Net Operating Assets of 0.38 mean?
Kangqiao Service Group (HKSE:02205) has a Scaled Net Operating Assets of 0.38 as of Dec. 2025. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Kangqiao Service Group and its competitors.
Is Kangqiao Service Group's Scaled Net Operating Assets too high?
Kangqiao Service Group's current Scaled Net Operating Assets is 0.38. Overall, Kangqiao Service Group has a GF Score™ of 61/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Kangqiao Service Group's Scaled Net Operating Assets compare to CBRE and BEKE?
Kangqiao Service Group's Scaled Net Operating Assets of 0.38 can be compared against companies in the Real Estate industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a Real Estate company?
A good Scaled Net Operating Assets depends on the Real Estate industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Kangqiao Service Group and its competitors. Kangqiao Service Group's current Scaled Net Operating Assets is 0.38. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kangqiao Service Group stock overvalued right now?
Based on GuruFocus' analysis, Kangqiao Service Group (HKSE:02205) is currently considered Modestly Undervalued. The stock's GF Value™ is HK$0.74, compared to a current price of HK$0.58 — trading 22.3% below its estimated fair value. The current Scaled Net Operating Assets is 0.38. Kangqiao Service Group's overall GF Score™ is 61/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Kangqiao Service Group (HKSE:02205), the current Scaled Net Operating Assets is 0.38 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Kangqiao Service Group (HKSE:02205) Overvalued in 2026?

Based on GuruFocus' analysis, Kangqiao Service Group stock appears to be undervalued. The current stock price of HK$0.58 is trading 22.3% below its estimated GF Value™ of HK$0.74. GuruFocus considers Kangqiao Service Group to be Modestly Undervalued.

Key valuation signals for HKSE:02205:

  • Scaled Net Operating Assets: 0.38
  • GF Value™: HK$0.74 vs. price of HK$0.58 (22.3% below fair value)
  • GF Score™: 61/100 with 5 warning signs

No single metric tells the full story. See the HKSE:02205 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Kangqiao Service Group Business Description

Address Daxue Road, 24F, Huacheng International Center, Erqi District, Henan Province, Zhengzhou, CHN
Kangqiao Service Group Ltd is a reputable comprehensive property managements service provider. The group is principally engaged in provision of property management services, related value-added services and city services in the PRC. The company has derived all of its revenue from the PRC. The group derives majority of its revenue from Property management services.
61GF Score

Get the complete analysis for HKSE:02205

Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

HK$0.58
Price
HK$0.74
GF Value