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Tai Sang Land Development Limited
(0089)
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Rating:51Neutral
Price Target:
HK$2.00
▼(-9.09% Downside)
Action:Reiterated
Date:10/24/26
The score is held back primarily by deteriorating operating performance (steep 2025 revenue decline and multi-year net losses) and a technically weak price trend (below key moving averages with negative MACD). Moderate leverage and consistently positive recent operating/free cash flow provide some stability, while the dividend yield supports valuation despite losses (negative P/E).
Positive Factors
Recurring rental model
The rental-focused model provides an underlying recurring revenue base tied to occupied properties, lease renewals, and achieved rents. This can support business continuity and cash generation over the next several quarters, although performance remains dependent on occupancy, rental rates, and property operating costs.
Negative Factors
Severe revenue contraction
The sharp 2025 revenue contraction signals a material weakening in operating performance rather than a normal growth pause. If revenue does not recover, lower leasing or property-related income could impair the company’s ability to absorb fixed operating costs and sustain prior cash-generation levels.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring rental model
The rental-focused model provides an underlying recurring revenue base tied to occupied properties, lease renewals, and achieved rents. This can support business continuity and cash generation over the next several quarters, although performance remains dependent on occupancy, rental rates, and property operating costs.
Read all positive factors
Tai Sang Land Development Limited (0089) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$520.68M
Dividend Yield4.42%
Average Volume (3M)14.26K
Price to Earnings (P/E)―
Beta (1Y)0.57
Revenue Growth-2.16%
EPS Growth98.09%
CountryHK
Employees267
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)-0.02
Shares Outstanding287,669,680
10 Day Avg. Volume8,050
30 Day Avg. Volume14,257
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)0.08
Price to Sales (P/S)1.34
P/FCF Ratio4.52
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
Tai Sang Land Development Limited Business Overview & Revenue Model
Company Description
As an investment holding firm, Tai Sang Land Development Limited operates in both Hong Kong and North America, with core activities spanning the acquisition, development, management, sale, and leasing of real estate. Its diverse property holdings ...
How the Company Makes Money
Tai Sang Land Development Limited primarily makes money through (1) rental income from leasing its investment properties to tenants and (2) property-related income connected to operating and managing those assets (e.g., leasing renewals, tenant ma...
Tai Sang Land Development Limited Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
67
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 466.55M | 472.21M | 481.55M | 487.06M | 440.80M | 407.95M |
| Gross Profit | 239.84M | 249.67M | 298.61M | 303.62M | 292.64M | 271.51M |
| EBITDA | 162.37M | -94.53M | -157.71M | -11.55M | 176.53M | 153.13M |
| Net Income | -7.22M | -257.61M | -333.41M | -185.66M | 360.12M | 633.62M |
Balance Sheet | ||||||
| Total Assets | 11.36B | 11.27B | 11.53B | 11.89B | 12.13B | 11.83B |
| Cash, Cash Equivalents and Short-Term Investments | 150.23M | 119.50M | 123.44M | 108.36M | 134.13M | 112.18M |
| Total Debt | 2.70B | 2.65B | 2.63B | 2.58B | 2.58B | 2.51B |
| Total Liabilities | 3.06B | 3.02B | 2.99B | 2.98B | 3.02B | 3.02B |
| Stockholders Equity | 8.02B | 7.98B | 8.26B | 8.62B | 8.84B | 8.56B |
Cash Flow | ||||||
| Free Cash Flow | 21.21M | 139.91M | 157.60M | 159.01M | 65.43M | 38.66M |
| Operating Cash Flow | 26.29M | 140.63M | 167.58M | 162.59M | 103.20M | 102.38M |
| Investing Cash Flow | -40.48M | -22.05M | -8.87M | -19.44M | -65.86M | -142.43M |
| Financing Cash Flow | 17.89M | -122.54M | -143.63M | -168.93M | -15.31M | 10.87M |
Tai Sang Land Development Limited Technical Analysis
Negative
2.20
Price Trends
1.89
Negative
1.94
Negative
2.08
Negative
Market Momentum
-0.02
Positive
37.64
Neutral
18.52
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0089, the sentiment is Negative. The current price of 2.2 is above the 20-day moving average (MA) of 1.87, above the 50-day MA of 1.89, and above the 200-day MA of 2.08, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 37.64 is Neutral, neither overbought nor oversold. The STOCH value of 18.52 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0089.
Tai Sang Land Development Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | HK$680.88M | 13.02 | 0.71% | 3.28% | -7.15% | ― | |
55 Neutral | HK$558.61M | -13.70 | -0.94% | 7.10% | -0.96% | 91.94% | |
53 Neutral | HK$699.40M | -0.32 | -26.12% | 3.45% | -58.66% | -186.85% | |
51 Neutral | HK$520.68M | -90.50 | -0.09% | 4.42% | -2.16% | 98.09% | |
48 Neutral | HK$339.53M | -0.95 | -4.84% | 34.15% | 36.56% | 45.41% | |
44 Neutral | HK$403.57M | 0.26 | 108.51% | 85.37% | -17.31% | 97.25% |
* Real Estate Sector Average
HK:0089
Tai Sang Land Development Limited
1.81
-0.41
-18.32%
HK:0367
Chuang's Consortium International
0.20
-0.14
-40.29%
HK:0655
Hongkong Chinese Limited
0.35
0.03
11.11%
HK:0224
Pioneer Global Group Limited
0.59
0.03
5.36%
HK:0225
Pokfulam Development Co. Ltd.
5.07
-0.43
-7.89%
HK:0432
Pacific Century Premium Developments Limited
0.20
>-0.01
-1.00%
Tai Sang Land Development Limited Corporate Events
Tai Sang Land Swings Back to Profit on Property Valuation Gains
Aug 24, 2026
Tai Sang Land Development Limited reported a sharp turnaround in its interim results for the six months ended 30 June 2026, returning to a profit of HK$58.4 million from a loss of HK$204.5 million a year earlier. The swing was driven largely by HK...
Tai Sang Land Declares HKD 0.03 Interim Dividend for First Half of 2026
Aug 24, 2026
Tai Sang Land Development Limited has declared an interim ordinary cash dividend of HKD 0.03 per share for the six months ended 30 June 2026, for the financial year ending 31 December 2026. The ex-dividend date is set for 8 September 2026, with a ...
Tai Sang Land Signals Return to Profit on Property Revaluation Gains
Aug 17, 2026
Tai Sang Land Development Limited expects to swing to a consolidated profit of about HK$58 million for the first half of 2026, reversing a loss of HK$204.5 million a year earlier, driven mainly by fair value gains on its investment properties inst...
Tai Sang Land Board to Review Interim Results and Dividend on 24 August
Aug 6, 2026
Tai Sang Land Development Limited has scheduled a board meeting for 24 August 2026 to review and approve the interim results for the six months ended 30 June 2026. The board will also consider the declaration of an interim dividend, a decision tha...
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.