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Harbour Centre Development Limited
(0051)
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Rating:56Neutral
Price Target:
HK$4.50
â–²(4.41% Upside)
Action:Reiterated
Date:08/04/26
The score is mainly supported by a strong, low-leverage balance sheet and improved recent cash generation, but is constrained by ongoing net losses (worsening in 2025) and a negative P/E that reflects weak profitability. Technical indicators are mildly constructive but not strong enough to offset the fundamental earnings pressure.
Positive Factors
Low leverage / strong balance sheet
A very low debt-to-equity ratio gives the company durable financial flexibility: it lowers interest burden, increases resilience to property market downturns, and preserves capacity to fund capex or opportunistic acquisitions without stressing liquidity or forcing asset sales.
Negative Factors
Persistent net losses and weaker profitability
Consistent annual net losses and a notable decline in 2025 indicate the firm struggles to translate operating performance into bottom-line profitability. This undermines return on equity, restricts retained earnings growth, and limits capacity to sustainably reward shareholders or reinvest from profits.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
A very low debt-to-equity ratio gives the company durable financial flexibility: it lowers interest burden, increases resilience to property market downturns, and preserves capacity to fund capex or opportunistic acquisitions without stressing liquidity or forcing asset sales.
Read all positive factors
Harbour Centre Development Limited (0051) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$3.06B
Dividend Yield1.16%
Average Volume (3M)11.37K
Price to Earnings (P/E)―
Beta (1Y)0.46
Revenue Growth0.79%
EPS Growth55.16%
CountryHK
Employees1,100
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)-0.17
Shares Outstanding708,750,000
10 Day Avg. Volume11,010
30 Day Avg. Volume11,371
Financial Highlights & Ratios
PEG Ratio-0.06
Price to Book (P/B)0.20
Price to Sales (P/S)2.26
P/FCF Ratio9.31
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
Harbour Centre Development Limited Business Overview & Revenue Model
Company Description
Harbour Centre Development Limited operates as an investment holding company, primarily focusing on hotel ownership, real estate investment, and property development. Its business activities extend across Hong Kong, mainland China, and internation...
How the Company Makes Money
The company primarily makes money by earning recurring rental income from its investment property portfolio. Revenue is generated through leasing space to tenants under rental agreements, which may include fixed rents and, where applicable, charge...
Harbour Centre Development Limited Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
82
Very Positive
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.40B | 1.34B | 1.35B | 1.58B | 1.14B | 4.48B |
| Gross Profit | 544.00M | 584.00M | 790.00M | 354.00M | 489.00M | 1.10B |
| EBITDA | 391.00M | 339.00M | 618.00M | 129.00M | 116.00M | 737.00M |
| Net Income | -117.00M | -234.00M | -70.00M | -107.00M | -197.00M | -24.00M |
Balance Sheet | ||||||
| Total Assets | 16.50B | 16.47B | 15.80B | 16.90B | 18.85B | 20.53B |
| Cash, Cash Equivalents and Short-Term Investments | 1.01B | 846.00M | 431.00M | 381.00M | 634.00M | 1.09B |
| Total Debt | 472.00M | 442.00M | 365.00M | 526.00M | 1.10B | 1.45B |
| Total Liabilities | 1.36B | 1.40B | 1.47B | 2.46B | 3.52B | 4.59B |
| Stockholders Equity | 15.06B | 14.98B | 14.22B | 14.33B | 15.13B | 15.62B |
Cash Flow | ||||||
| Free Cash Flow | 237.00M | 326.00M | 212.00M | 253.00M | -153.00M | 1.10B |
| Operating Cash Flow | 250.00M | 344.00M | 224.00M | 278.00M | -147.00M | 1.13B |
| Investing Cash Flow | -12.00M | 32.00M | -12.00M | 44.00M | 175.00M | 243.00M |
| Financing Cash Flow | 11.00M | 33.00M | -154.00M | -567.00M | -394.00M | -1.61B |
Harbour Centre Development Limited Technical Analysis
Negative
4.31
Price Trends
4.50
Negative
4.53
Negative
4.54
Negative
Market Momentum
-0.06
Positive
11.65
Positive
20.08
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0051, the sentiment is Negative. The current price of 4.31 is below the 20-day moving average (MA) of 4.47, below the 50-day MA of 4.50, and below the 200-day MA of 4.54, indicating a bearish trend. The MACD of -0.06 indicates Positive momentum. The RSI at 11.65 is Positive, neither overbought nor oversold. The STOCH value of 20.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0051.
Harbour Centre Development Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | HK$98.83B | 20.69 | 2.67% | 5.72% | 19.08% | 7.32% | |
67 Neutral | HK$43.52B | 19.35 | 2.21% | 3.00% | 24.58% | 13.52% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
62 Neutral | HK$338.17B | 14.62 | 3.41% | 3.49% | 17.93% | 11.15% | |
56 Neutral | HK$3.06B | -24.71 | -0.78% | 1.16% | 0.79% | 55.16% | |
49 Neutral | HK$5.71B | 41.06 | 0.78% | 5.59% | -48.06% | 7.94% | |
41 Neutral | HK$57.70B | -128.76 | -0.30% | 2.11% | -0.74% | -741.18% |
* Real Estate Sector Average
HK:0051
Harbour Centre Development Limited
4.20
-0.26
-5.83%
HK:0034
Kowloon Development Co
4.30
0.79
22.71%
HK:0083
Sino Land Co
10.14
0.61
6.39%
HK:0016
Sun Hung Kai Properties
108.20
15.51
16.73%
HK:0004
Wharf (Holdings)
18.58
-4.42
-19.22%
HK:0247
Tsim Sha Tsui Properties Limited
19.35
-0.09
-0.46%
Harbour Centre Development Limited Corporate Events
Harbour Centre trims interim loss as hotel recovery offsets property writedowns
Aug 4, 2026
Harbour Centre Development Limited narrowed its loss for the half year to June 30, 2026, reporting an underlying net profit of HK$99 million versus a loss a year earlier, largely due to a reduced impairment on its Mainland development properties, ...
Harbour Centre Schedules Board Meeting to Approve Interim Results and Consider Dividend
Jul 23, 2026
Harbour Centre Development Limited has scheduled a board meeting for 4 August 2026 to review and approve its interim results for the six months ended 30 June 2026. The board will also consider the declaration of an interim dividend, which could af...
Harbour Centre Development Wins Full Shareholder Backing at 2026 AGM
May 7, 2026
Harbour Centre Development Limited reported that all resolutions put to shareholders at its 7 May 2026 annual general meeting were passed by poll with overwhelming support. Investors approved the 2025 financial statements, re-elected directors Rog...
Harbour Centre Development Sets Out Board and Committee Structure
May 7, 2026
Harbour Centre Development Limited has announced the current composition of its board, listing Chairman Stephen T. H. Ng and seven other directors, including multiple independent non-executive directors. The company also detailed the membership an...
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.