NYSE: Closed
NASDAQ: Closed
LSE: Closed
TSX: Closed
Nikkei: Open
Shanghai: Open
Sun, May 17 05:47 AM
Non-Compliant

HKIT

Quality Rating

B
Minimal compliance quality

Hitek Global Inc. (HKIT), a provider of IT consulting and hardware solutions in China, presents challenges in Shariah compliance primarily due to a high liquidity ratio of 103.88% exceeding all major thresholds and an interest income ratio of 30.64% surpassing the 5% limit across standards. While debt levels are low at 9.06% and business activities in software applications and technology hardware sales are permissible, financial metrics lead to non-compliance under AAOIFI, MSCI, and S&P standards. No non-permissible revenue sources were identified, but purification of 30.64% is required for dividends. Index inclusion research confirms exclusion from all major Shariah indices, classifying the stock as NON_COMPLIANT overall. Investors should monitor improvements in cash management and income sources for potential future compliance.

Purification Required
30.64%
significant

Significant purification required - exercise caution

Index Inclusion

Not included in any major Shariah indices (S&P, MSCI, FTSE, DJIM)

Key Compliance Considerations

Debt Ratio

9.1%

Liquidity Ratio

103.9%

Interest Income Ratio

30.6%

Purification

30.64%