--- title: "BBMG (SEHK:2009) Q1 Loss Deepens To C¥0.16 EPS And Reinforces Bearish Profitability Concerns" type: "News" locale: "en" url: "https://longbridge.com/en/news/284944540.md" description: "BBMG (SEHK:2009) reported a Q1 2026 revenue of C¥15.3b and a basic EPS loss of C¥0.16, deepening concerns over profitability. Despite generating C¥89.6b in revenue over the past year, the company faced a net loss of C¥1.45b, with losses growing at 67.1% annually. Revenue growth of 6.6% lags behind the Hong Kong market benchmark of 8.7%. Shares trade at a low P/S of 0.1x and a high yield of 7.55%, raising questions about sustainability without improved profitability. Investors are advised to consider long-term trends and risks." datetime: "2026-05-01T21:56:39.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/284944540.md) - [en](https://longbridge.com/en/news/284944540.md) - [zh-HK](https://longbridge.com/zh-HK/news/284944540.md) --- # BBMG (SEHK:2009) Q1 Loss Deepens To C¥0.16 EPS And Reinforces Bearish Profitability Concerns BBMG (SEHK:2009) opened Q1 2026 with revenue of C¥15.3b and a basic EPS loss of C¥0.16, while trailing twelve month revenue stood at C¥89.6b against a net loss excluding extra items of C¥1.45b. Over recent quarters the company has seen revenue move from C¥33.7b in Q4 2024 to C¥16.9b in Q1 2025 and then C¥15.3b in Q1 2026, with quarterly EPS shifting from a loss of C¥0.01 in Q4 2024 to a loss of C¥0.12 in Q1 2025 and C¥0.16 in Q1 2026. This keeps the spotlight firmly on margins and the path back toward more sustainable profitability for shareholders. See our full analysis for BBMG. With the latest numbers on the table, the next step is to see how this earnings profile lines up with the dominant bullish and bearish stories around BBMG and where the figures challenge those narratives. Curious how numbers become stories that shape markets? Explore Community Narratives SEHK:2009 Revenue & Expenses Breakdown as at May 2026 ## TTM losses widen despite C¥89.6b revenue - Over the last 12 months BBMG generated about C¥89.6b in revenue but recorded a net loss excluding extra items of about C¥1.45b and basic EPS of C¥0.13 loss, so sales volume has not translated into profitability. - Critics highlight the bearish point that losses have grown at about 67.1% per year over five years and are expected to decline by around 7.3% per year for the next three years. The continued loss of C¥1.45b on C¥89.6b in revenue supports that concern and also raises the question of what needs to change for that revenue base to cover costs more fully. - The negative net margin over the trailing 12 months aligns with the view that the business model has not yet produced consistent profit on its current scale. - Forecasts that earnings will remain negative over the coming three years fit with the recent pattern of quarterly losses, including the C¥1.68b loss in Q1 2026. ## Revenue growth trails market benchmark - Revenue over the last 12 months is reported to be growing at 6.6% per year compared with an 8.7% per year benchmark for the wider Hong Kong market, so BBMG is expanding more slowly than that reference point. - Bears argue that slower growth and ongoing losses limit the appeal of the business. The 6.6% revenue rate together with a trailing loss of about C¥1.45b give that argument weight, although the fact that revenue is still growing at all means the company is not shrinking on this measure. - The combination of below benchmark growth and negative net profit margin means both the top line speed and profitability need attention at the same time. - Given the forecast earnings decline of about 7.3% per year, the current growth pace has not yet been enough to change the overall earnings trend in the data provided. ## Low 0.1x P/S and high 7.55% yield - The shares trade on a P/S of 0.1x versus about 0.6x for the Hong Kong basic materials industry and 4.8x for peers, while the dividend yield is 7.55% even though it is not covered by earnings or free cash flow. - What is striking for value focused investors is that a bullish view built around low valuation multiples runs into the bearish concern that cash generation is under strain, because the very low 0.1x P/S and relatively high 7.55% yield sit alongside weak coverage of debt by operating cash flow and a trailing loss of about C¥1.45b. - The discount to the industry P/S of 0.6x and peer average of 4.8x shows how far the market prices BBMG below many comparables on sales alone. - At the same time, the fact that the dividend is not covered by earnings or free cash flow highlights why some investors may question how sustainable that payout is without an improvement in profitability or cash flow. To see how others connect these numbers into a bigger picture for the company, you can tap into the shared views in the community narrative for BBMG, then compare them to your own take on the risks and potential rewards.**📊 Read the what the Community is saying about BBMG.** ## Next Steps Don't just look at this quarter; the real story is in the long-term trend. We've done an in-depth analysis on BBMG's growth and its valuation to see if today's price is a bargain. Add the company to your watchlist or portfolio now so you don't miss the next big move. With mixed signals around growth, losses and valuation, this is a moment to look at the underlying figures yourself and move quickly to form a view that fits your risk tolerance and income expectations, then weigh that against the 1 key reward and 3 important warning signs ## See What Else Is Out There BBMG is working with a trailing loss of about C¥1.45b, negative margins, and a dividend that current earnings and cash flow do not cover. If those pressures on profitability and payout reliability concern you, use the solid balance sheet and fundamentals stocks screener (383 results) to quickly focus on companies where financial strength better supports long term distributions. _This article by Simply Wall St is general in nature. **We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.** It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned._ ### Valuation is complex, but we're here to simplify it. Discover if BBMG might be undervalued or overvalued with our detailed analysis, featuring **fair value estimates, potential risks, dividends, insider trades, and its financial condition.** Access Free Analysis ### Related Stocks - [02009.HK](https://longbridge.com/en/quote/02009.HK.md) - [601992.CN](https://longbridge.com/en/quote/601992.CN.md) ## Related News & Research - [Treasury yields haven’t been this high in years—but they may not be the best deal for savers](https://longbridge.com/en/news/286972756.md) - [Bond yields look attractive but might stay volatile](https://longbridge.com/en/news/286892571.md) - [As yields climb, these interest-rate sensitive stocks rank best on Seeking Alpha’s Quant system](https://longbridge.com/en/news/286601633.md) - [Vodafone Idea posts ₹51,970 crore net profit in Q4 FY26, first in 6 years](https://longbridge.com/en/news/286648353.md) - [Surging bond yields raise retirement timing risks](https://longbridge.com/en/news/286637781.md)