Ruihe Data (3680.HK) drops 27.64% to HKD 0.89: near-term outlook and risk signals
Ruihe Data Technology Holdings Limited (3680.HK) closed down 27.64% at HKD 0.89 on 20 Jan 2026, ranking among the top losers on the HKSE in Hong Kong. The sharp move came on volume 7,318,000.00 shares, nearly four times average activity, as traders reacted to weak near-term signals and heavy selling. Today’s fall widened the stock’s divergence from its 50-day average HKD 1.72 and raised liquidity and valuation questions. We examine why 3680.HK stock moved, what key ratios show, and where our model sees the price in the next 12 months
3680.HK stock: price action and volume
Ruihe Data (3680.HK) finished the session at HKD 0.89, down 27.64% on 20 Jan 2026. The session high was HKD 1.20 and the low HKD 0.89, with volume 7,318,000.00 versus an average of 471,684.00, a relative volume of 3.84. The intraday selling pushed the share price below its 50-day average (HKD 1.72) and 200-day average (HKD 1.59), signalling short-term weakness.
Drivers behind the drop and recent 3680.HK news
Trading appears driven by a concentrated sell-off and negative sentiment in small-cap technology names in Hong Kong. There was no single public earnings update today; investors cited stretched valuation metrics and rising receivables days in recent filings. Sector pressure in Technology, which is up 6.69% YTD, amplified the move for smaller service providers like Ruihe Data.
Financials and valuation: what metrics reveal
Key ratios show mixed fundamentals: reported EPS stood at -0.12 with a quoted PE of -7.58, while book value per share is HKD 0.17 and PB ratio 5.74, indicating premium pricing versus peers. The company’s current ratio is 0.80, debt to equity 1.38, and days sales outstanding 159.88, highlighting working-capital pressure. Revenue per share is 0.46, and operating cash flow per share is 0.02, signalling limited cash buffer versus liabilities.
Technical outlook and momentum for 3680.HK stock
Technical indicators are bearish: RSI 23.21 shows oversold conditions while ADX 66.96 signals a strong downtrend. Bollinger middle band sits at HKD 1.59, far above the close, suggesting price volatility remains elevated. Short-term traders should note the high on-balance-volume negative reading and MFI 25.09, consistent with distribution.
Meyka AI rates 3680.HK with a score out of 100 and forecast
Meyka AI rates 3680.HK with a score out of 100: 66.34 (Grade B, HOLD). This grade factors S&P 500 and sector comparisons, financial growth, key metrics, forecasts and analyst consensus. Meyka AI’s forecast model projects monthly HKD 1.09 (+22.47% vs HKD 0.89) and 12-month HKD 2.49 (+180.07% vs HKD 0.89). Forecasts are model-based projections and not guarantees.
Risks and opportunities for investors
Immediate risks are liquidity stress, stretched receivables and negative operating margin history, which could weigh on 3680.HK stock. Opportunities include improving cash flow trends reported in FY2024 and a focus on AI and digital marketing services that could lift margins if client demand recovers. Investors should weigh a high PB ratio and working-capital metrics before adding exposure.
Final Thoughts
Ruihe Data (3680.HK) ended 20 Jan 2026 as a clear top loser on the HKSE after dropping to HKD 0.89, driven by heavy volume and negative sentiment. Valuation is mixed: the market quotes EPS -0.12 and PE -7.58, yet book value per share is only HKD 0.17, producing a PB of 5.74 that is high versus Technology sector averages. Technicals show oversold readings but a strong downtrend, so any recovery may need improving cash conversion and reduced receivables. Meyka AI’s forecast model projects HKD 1.09 in one month (+22.47%) and HKD 2.49 in 12 months (+180.07%) compared with the current HKD 0.89. These are model outputs and not guarantees. Given the firm’s current ratio 0.80, debt-to-equity 1.38, and days sales outstanding 159.88, our view remains cautious: the Meyka grade is B (HOLD) and traders should prioritise risk management, position sizing and clear stop rules when considering 3680.HK stock
FAQs
Why did 3680.HK stock fall sharply today?
3680.HK stock fell on 20 Jan 2026 due to heavy selling and elevated volume (7,318,000.00). Market concerns centred on valuation, stretched receivables (DSO 159.88) and short-term liquidity, rather than a single public earnings release.
What is Meyka AI’s 12-month forecast for 3680.HK stock?
Meyka AI’s forecast model projects HKD 2.49 in 12 months, implying +180.07% versus the current HKD 0.89. Forecasts are model-based projections and not guarantees.
What key ratios should investors watch for 3680.HK?
Monitor the current ratio (0.80), debt-to-equity (1.38), PB (5.74) and days sales outstanding (159.88) to gauge liquidity and working-capital stress on 3680.HK stock.
How does sector performance affect 3680.HK stock?
Technology sector momentum can amplify moves in smaller names. The sector is up 6.69% YTD, but Ruihe’s high PB and thin liquidity make it more vulnerable when sector flows turn negative.
Disclaimer:
Stock markets involve risks. This content is for informational purposes only. Past performance does not guarantee future results. Meyka AI PTY LTD provides market analysis and data insights, not financial advice. Always conduct your own research and consider consulting a licensed financial advisor.
