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K Wah International Holdings
(0173)
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Rating:49Neutral
Price Target:
HK$2.00
â–¼(-6.98% Downside)
Action:Reiterated
Date:08/06/26
The score is held back primarily by weakened financial performance in 2025 (sharp revenue drop, net loss, and materially reduced cash generation), partially offset by a relatively manageable leverage profile. Technical indicators are broadly neutral with only a slight near-term improvement versus a still-weak longer-term trend, while valuation signals are constrained by a negative P/E and only a modest dividend yield.
Positive Factors
Manageable leverage
Net leverage near 0.34–0.36 provides a structural buffer versus higher-levered peers. A conservative debt profile and large equity base reduce refinancing and solvency stress, preserving capacity to fund projects or absorb valuation volatility over the next several quarters.
Negative Factors
Sharp 2025 revenue and profit collapse
A ~72% top-line drop and a large net loss represent a material deterioration in core operations and project sales execution. This reduces visibility on near-term earnings and heightens the risk that development pipelines or sales timing will keep margins and cash receipts depressed for multiple quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Manageable leverage
Net leverage near 0.34–0.36 provides a structural buffer versus higher-levered peers. A conservative debt profile and large equity base reduce refinancing and solvency stress, preserving capacity to fund projects or absorb valuation volatility over the next several quarters.
Read all positive factors
K Wah International Holdings (0173) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$6.04B
Dividend Yield1.57%
Average Volume (3M)597.83K
Price to Earnings (P/E)―
Beta (1Y)0.74
Revenue Growth-16.52%
EPS Growth-406.41%
CountryHK
Employees732
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)-0.28
Shares Outstanding3,152,728,500
10 Day Avg. Volume795,239
30 Day Avg. Volume597,830
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.17
Price to Sales (P/S)3.34
P/FCF Ratio186.80
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$2.72Price Target Upside26.51% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.09
Revenue Forecast (FY)HK$5.89B
K Wah International Holdings Business Overview & Revenue Model
Company Description
K. Wah International Holdings Limited, an investment holding company, engages in the property development and investment businesses in Hong Kong and Mainland China. The company's property portfolio, including residential developments, office tower...
How the Company Makes Money
K Wah International Holdings mainly earns revenue through a combination of (1) property development profits and (2) recurring income from property investment.
1) Property development (primary earnings driver when projects are delivered)
- Sale of...
K Wah International Holdings Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
62
Positive
Cash Flow
34
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.87B | 1.99B | 7.19B | 6.10B | 8.79B | 16.22B |
| Gross Profit | 481.51M | 4.54M | 1.36B | 2.02B | 2.67B | 5.56B |
| EBITDA | -214.74M | -541.09M | 1.12B | 1.75B | 2.22B | 5.15B |
| Net Income | -904.17M | -869.26M | 335.07M | 802.16M | 1.37B | 3.35B |
Balance Sheet | ||||||
| Total Assets | 59.89B | 66.09B | 66.37B | 72.51B | 76.64B | 78.50B |
| Cash, Cash Equivalents and Short-Term Investments | 7.54B | 6.47B | 9.43B | 8.09B | 8.82B | 9.30B |
| Total Debt | 11.21B | 13.74B | 14.57B | 15.19B | 14.95B | 19.00B |
| Total Liabilities | 18.07B | 24.09B | 24.41B | 27.41B | 29.99B | 33.28B |
| Stockholders Equity | 39.63B | 40.10B | 40.08B | 42.33B | 43.86B | 43.90B |
Cash Flow | ||||||
| Free Cash Flow | 109.86M | 35.44M | 3.27B | 676.98M | 6.74B | 7.56B |
| Operating Cash Flow | 119.98M | 45.56M | 3.28B | 713.95M | 6.75B | 7.57B |
| Investing Cash Flow | -1.34B | -622.59M | 40.69M | -589.66M | -2.38B | -372.51M |
| Financing Cash Flow | -63.97M | -1.34B | -1.81B | -463.37M | -2.99B | -6.88B |
K Wah International Holdings Technical Analysis
Negative
2.15
Price Trends
2.03
Negative
2.06
Negative
2.18
Negative
Market Momentum
-0.03
Positive
30.18
Neutral
4.76
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0173, the sentiment is Negative. The current price of 2.15 is above the 20-day moving average (MA) of 2.01, above the 50-day MA of 2.03, and below the 200-day MA of 2.18, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 30.18 is Neutral, neither overbought nor oversold. The STOCH value of 4.76 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0173.
K Wah International Holdings Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | HK$4.79B | -4.74 | -3.56% | 6.12% | -65.47% | -149.64% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
49 Neutral | HK$6.04B | -6.72 | -2.27% | 1.57% | -16.52% | -406.41% | |
49 Neutral | HK$5.97B | 43.69 | 0.78% | 5.19% | -46.68% | 7.94% | |
48 Neutral | HK$5.43B | -1.45 | -10.38% | 8.82% | 78.67% | -11.80% | |
43 Neutral | HK$4.80B | -5.84 | -2.19% | 2.07% | 0.12% | -5006.82% | |
41 Neutral | HK$7.16B | -1.63 | -25.15% | 13.43% | -68.62% | 42.97% |
* Real Estate Sector Average
HK:0173
K Wah International Holdings
1.92
-0.17
-8.29%
HK:0034
Kowloon Development Co
4.57
1.17
34.21%
HK:3380
Logan Property Holdings Co
1.26
0.04
3.28%
HK:0119
Poly Property Group Co
1.26
-0.42
-24.99%
HK:0604
Shenzhen Investment
0.61
-0.27
-30.68%
HK:0028
Tian An China Investments Co
3.27
-1.43
-30.46%
K Wah International Holdings Corporate Events
K. Wah International Wins Strong Shareholder Backing for New Mandates and Bye-Laws
Jun 17, 2026
Shareholders of K. Wah International Holdings approved all resolutions at the annual general meeting held on 17 June 2026, including adoption of the 2025 audited accounts, declaration of a final dividend, re-election of three directors, and reappo...
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.