Want to see HK:0034 full AI Analyst Report?
Top Page
Kowloon Development Co
(0034)
Select Model
Select Model
Rating:49Neutral
Price Target:
HK$5.00
Action:Reiterated
Date:08/06/26
The score is primarily held back by weakened profitability/returns and elevated leverage, typical of a cyclical developer. Offsetting this, recent operating and free cash flow have improved meaningfully, supporting near-term financial flexibility. Technicals are broadly neutral, while valuation is a headwind due to a high P/E despite a solid dividend yield.
Positive Factors
Improved cash generation and FCF recovery
Sustained positive operating cash flow and a >2x increase in 2025 free cash flow materially improve financial flexibility. This reduces near-term refinancing pressure, supports project funding and dividends, and provides a more durable buffer against property cycle swings despite prior volatility.
Negative Factors
Elevated leverage (debt > equity)
A debt-to-equity ratio above 1x indicates sustained reliance on debt financing. Higher leverage raises interest and refinancing risk, reduces strategic flexibility for land acquisitions or opportunistic investments, and leaves the company more exposed if property market conditions deteriorate.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved cash generation and FCF recovery
Sustained positive operating cash flow and a >2x increase in 2025 free cash flow materially improve financial flexibility. This reduces near-term refinancing pressure, supports project funding and dividends, and provides a more durable buffer against property cycle swings despite prior volatility.
Read all positive factors
Kowloon Development Co (0034) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$5.72B
Dividend Yield5.52%
Average Volume (3M)192.50K
Price to Earnings (P/E)41.6
Beta (1Y)0.60
Revenue Growth-48.06%
EPS Growth7.94%
CountryHK
Employees1,992
SectorFinancial
Sector Strength70
IndustryReal Estate - Development
Share Statistics
EPS (TTM)0.10
Shares Outstanding1,306,206,000
10 Day Avg. Volume152,864
30 Day Avg. Volume192,497
Financial Highlights & Ratios
PEG Ratio6.27
Price to Book (P/B)0.32
Price to Sales (P/S)1.13
P/FCF Ratio3.85
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Kowloon Development Co Business Overview & Revenue Model
Company Description
Kowloon Development Company Limited operates as an investment holding entity, primarily focusing on the investment, development, and comprehensive management of real estate assets across Hong Kong and Mainland China. The company undertakes the cre...
How the Company Makes Money
Kowloon Development primarily makes money through (1) property development sales and (2) property investment/holding income, supplemented by investment and other income streams where applicable. (1) Property development sales: The core revenue dri...
Kowloon Development Co Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
46
Neutral
Cash Flow
58
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.95B | 5.39B | 2.94B | 4.43B | 2.05B |
| Gross Profit | 2.68B | 2.07B | 1.75B | 2.76B | 1.57B |
| EBITDA | 572.42M | 356.94M | 691.91M | 1.82B | 738.85M |
| Net Income | 130.57M | 115.66M | 337.19M | 1.21B | 2.21B |
Balance Sheet | |||||
| Total Assets | 41.49B | 42.71B | 47.73B | 47.77B | 48.12B |
| Cash, Cash Equivalents and Short-Term Investments | 1.18B | 812.36M | 1.10B | 908.20M | 1.11B |
| Total Debt | 20.68B | 20.55B | 23.73B | 23.95B | 15.90B |
| Total Liabilities | 23.93B | 25.14B | 29.96B | 29.23B | 29.04B |
| Stockholders Equity | 17.47B | 17.47B | 17.67B | 18.43B | 18.95B |
Cash Flow | |||||
| Free Cash Flow | 1.46B | 1.76B | 1.45B | -6.07B | -2.12B |
| Operating Cash Flow | 1.46B | 1.76B | 1.45B | -6.07B | -2.12B |
| Investing Cash Flow | -75.93M | 80.08M | 36.64M | -814.12M | -655.28M |
| Financing Cash Flow | -1.00B | -2.12B | -1.24B | 6.14B | 2.66B |
Kowloon Development Co Technical Analysis
Positive
―
Price Trends
4.80
Negative
4.76
Positive
4.56
Positive
Market Momentum
-0.02
Negative
49.62
Neutral
78.68
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0034, the sentiment is Positive. The current price of undefined is equal to the 20-day moving average (MA) of 4.77, equal to the 50-day MA of 4.80, and equal to the 200-day MA of 4.56, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 49.62 is Neutral, neither overbought nor oversold. The STOCH value of 78.68 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0034.
Kowloon Development Co Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | HK$596.00M | 12.74 | 4.89% | 5.23% | -17.07% | -5.72% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
52 Neutral | HK$104.73M | -22.75 | -0.74% | ― | 95.13% | 95.11% | |
49 Neutral | HK$5.72B | 41.59 | 0.78% | 5.58% | -48.06% | 7.94% | |
49 Neutral | HK$161.85M | -5.92 | -1.91% | 2.44% | -24.44% | 48.96% | |
46 Neutral | HK$252.87M | -0.14 | -16.70% | 2.91% | 163.09% | 52.42% | |
37 Underperform | HK$130.07M | -1.53 | -5.78% | ― | -23.18% | 60.58% |
* Financial Sector Average
HK:0034
Kowloon Development Co
4.35
0.87
24.96%
HK:0129
Asia Standard International Group
0.18
-0.17
-48.41%
HK:1669
Global International Credit Group Ltd.
1.47
0.69
88.70%
HK:0234
New Century Group Hong Kong Limited
0.03
>-0.01
-17.14%
HK:0356
DT Capital Ltd.
0.51
-0.63
-55.70%
HK:0397
Power Financial Group Limited
0.04
-0.01
-21.57%
Kowloon Development Co Corporate Events
Kowloon Development Wins Strong Shareholder Backing at 2026 AGM
Jun 3, 2026
Kowloon Development shareholders have approved all resolutions at the 3 June 2026 annual general meeting, including adoption of the 2025 audited financial statements and the declaration of a final dividend. Investors also backed the re-election of...
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.