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Hysan Development Co
(0014)
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Rating:62Neutral
Price Target:
HK$16.50
▲(0.92% Upside)
Action:Reiterated
Date:08/06/26
The score is primarily supported by improving profitability in 2025 and consistently positive operating/free cash flow. This is tempered by sharp revenue volatility and rising leverage, while technical indicators are only mildly constructive. Valuation is a key constraint due to the very high P/E despite an attractive dividend yield.
Positive Factors
2025 profitability rebound
The sharp improvement in net margin shows that earnings power recovered meaningfully in 2025 after a weak period. If profitability remains supported by the operating portfolio, it can strengthen internal funding capacity and provide a more stable base for future property investment.
Negative Factors
Sharp revenue volatility
The steep 2025 revenue decline demonstrates that reported top-line performance remains cyclical and inconsistent. Such volatility can make earnings less predictable, complicate capital planning, and leave results sensitive to occupancy, rents, tenant performance, and property-market conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
2025 profitability rebound
The sharp improvement in net margin shows that earnings power recovered meaningfully in 2025 after a weak period. If profitability remains supported by the operating portfolio, it can strengthen internal funding capacity and provide a more stable base for future property investment.
Read all positive factors
Hysan Development Co (0014) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$16.36B
Dividend Yield6.86%
Average Volume (3M)1.66M
Price to Earnings (P/E)52.3
Beta (1Y)0.61
Revenue Growth-1.87%
EPS GrowthN/A
CountryHK
Employees507
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)0.30
Shares Outstanding1,027,008,200
10 Day Avg. Volume1,500,361
30 Day Avg. Volume1,660,503
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)0.30
Price to Sales (P/S)5.37
P/FCF Ratio8.54
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$18.48Price Target Upside13.02% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)2.18
Revenue Forecast (FY)HK$3.44B
Hysan Development Co Business Overview & Revenue Model
Company Description
Hysan is a preeminent real estate firm in Hong Kong, specializing in property investment, management, and development. It oversees an extensive portfolio of over 4 million square feet, featuring high-quality office, retail, and residential assets....
How the Company Makes Money
Hysan makes money primarily by investing in and operating income-producing real estate. Its key revenue streams typically include: (1) Rental income from leasing retail space to brands and merchants and leasing office space to corporate tenants; r...
Hysan Development Co Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
62
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.56B | 3.62B | 3.41B | 3.21B | 3.71B | 3.69B |
| Gross Profit | 2.84B | 2.89B | 2.76B | 2.59B | 3.14B | 3.19B |
| EBITDA | 1.31B | 1.18B | 1.02B | -268.00M | 2.84B | 2.64B |
| Net Income | 846.00M | 840.00M | 35.00M | -872.00M | -1.16B | 1.38B |
Balance Sheet | ||||||
| Total Assets | 114.29B | 115.42B | 114.09B | 114.53B | 119.17B | 117.37B |
| Cash, Cash Equivalents and Short-Term Investments | 4.15B | 4.25B | 2.53B | 3.95B | 7.77B | 8.57B |
| Total Debt | 36.67B | 37.93B | 26.51B | 25.56B | 40.66B | 29.31B |
| Total Liabilities | 47.80B | 48.61B | 36.66B | 34.84B | 35.75B | 29.49B |
| Stockholders Equity | 65.29B | 65.46B | 75.43B | 77.41B | 70.20B | 73.87B |
Cash Flow | ||||||
| Free Cash Flow | 1.25B | 2.27B | 2.32B | 2.19B | 1.50B | 1.66B |
| Operating Cash Flow | 1.27B | 2.29B | 2.36B | 2.21B | 1.52B | 1.73B |
| Investing Cash Flow | 2.24B | 771.00M | -1.29B | 2.14B | -8.62B | -7.42B |
| Financing Cash Flow | -4.26B | -795.00M | -2.09B | -4.32B | 2.17B | -2.17B |
Hysan Development Co Technical Analysis
Negative
16.35
Price Trends
17.06
Negative
17.61
Negative
18.16
Negative
Market Momentum
-0.34
Positive
32.88
Neutral
33.81
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0014, the sentiment is Negative. The current price of 16.35 is above the 20-day moving average (MA) of 16.33, below the 50-day MA of 17.06, and below the 200-day MA of 18.16, indicating a bearish trend. The MACD of -0.34 indicates Positive momentum. The RSI at 32.88 is Neutral, neither overbought nor oversold. The STOCH value of 33.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0014.
Hysan Development Co Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | HK$6.96B | 10.13 | 3.22% | 5.28% | -10.82% | -1.24% | |
68 Neutral | HK$95.09B | -46.29 | -1.12% | 5.17% | -0.55% | -337.48% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
63 Neutral | HK$35.98B | 20.62 | 1.21% | 7.64% | 9.89% | -22.12% | |
62 Neutral | HK$16.36B | 52.31 | 1.29% | 6.86% | -1.87% | ― | |
52 Neutral | HK$1.66B | -5.99 | -0.65% | 1.39% | -6.41% | -146.27% | |
51 Neutral | HK$1.74B | -1.35 | -9.64% | 1.64% | 27.40% | 55.09% |
* Real Estate Sector Average
HK:0014
Hysan Development Co
15.75
0.48
3.15%
HK:0101
Hang Lung Properties
6.81
-1.64
-19.41%
HK:0071
Miramar Hotel & Investment Co
10.03
0.47
4.88%
HK:0878
Soundwill Holdings
6.08
0.06
0.96%
HK:0410
SOHO China
0.32
-0.29
-47.50%
HK:1997
Wharf Real Estate Investment Co
30.92
8.00
34.90%
Hysan Development Co Corporate Events
Hysan Secures HK$10 Billion Green Project Financing from Syndicated Lenders
Sep 4, 2026
Hysan Development’s 60%-owned subsidiary Patchway has entered into a HK$10 billion project financing facility with a syndicate of banks, including Hang Seng Bank and HSBC as joint mandated lead arrangers and lenders. The facility comprises a...
Hysan Declares HKD 0.27 Interim Dividend for First Half of 2026
Aug 13, 2026
Hysan Development Company Limited has declared an ordinary interim dividend of HKD 0.27 per share for the six months ended 30 June 2026, payable in Hong Kong dollars. The dividend relates to the financial year ending 31 December 2026 and will be d...
Hysan lifts core profit and advances Lee Gardens projects amid stable first-half performance
Aug 13, 2026
Hysan Development reported stable turnover of HK$1.73 billion for the first half of 2026, with Recurring Underlying Profit up 1.7% and Underlying Profit rising 7.4% on fair value gains from Bamboo Grove residential unit sales. Shareholders’ ...
Hysan sets August board meeting to approve 2026 interim results and dividend
Jul 9, 2026
Hysan Development Company Limited has scheduled a board meeting for 13 August 2026 to review and approve the interim results for the six months ended 30 June 2026, covering the company and its subsidiaries. The board will also consider the declara...
Hysan Sells Bamboo Grove Luxury Units in Connected Transactions
Jul 3, 2026
Hysan Development’s wholly owned subsidiary Kwong Wan has agreed to sell three luxury residential units at Bamboo Grove in Hong Kong to connected parties for a combined consideration of over HK$126 million. The buyers include entities owned ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.