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Pacific Century Premium Developments Limited
(0432)
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Rating:44Neutral
Price Target:
HK$0.22
▼(-20.00% Downside)
Action:Reiterated
Date:08/06/26
The score is primarily held down by weak financial foundations—negative equity with high debt and a return to cash burn—despite some operational improvement. Technical indicators are broadly neutral and do not add strong support, while valuation is constrained by ongoing losses (negative P/E) and no dividend data.
Positive Factors
High gross margin & operating profitability
A ~71% gross margin and a return to positive operating earnings in 2025 indicate underlying asset economics and pricing power in core projects. Sustained operating profitability supports long‑term operational resilience, helps absorb cyclical downturns, and forms a base for restoring net profitability if cash conversion improves.
Negative Factors
High leverage & negative equity
Heavy debt (~9.2B) combined with negative shareholders' equity sharply limits financial flexibility. It raises refinancing and covenant breach risk, constrains the ability to raise incremental capital on favorable terms, and may force asset sales or dilutive remedies, impairing strategic options over coming months.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margin & operating profitability
A ~71% gross margin and a return to positive operating earnings in 2025 indicate underlying asset economics and pricing power in core projects. Sustained operating profitability supports long‑term operational resilience, helps absorb cyclical downturns, and forms a base for restoring net profitability if cash conversion improves.
Read all positive factors
Pacific Century Premium Developments Limited (0432) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$428.03M
Dividend Yield85.37%
Average Volume (3M)377.70K
Price to Earnings (P/E)0.3
Beta (1Y)0.44
Revenue Growth-17.31%
EPS Growth97.25%
CountryHK
Employees1,466
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)0.78
Shares Outstanding2,038,236,700
10 Day Avg. Volume369,953
30 Day Avg. Volume377,697
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)-1.51
Price to Sales (P/S)0.14
P/FCF Ratio-0.36
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
Pacific Century Premium Developments Limited Business Overview & Revenue Model
Company Description
Based in Hong Kong, Pacific Century Premium Developments Limited and its associated companies are primarily engaged in the development and management of property and infrastructure ventures across the Asia-Pacific. The firm also strategically inve...
How the Company Makes Money
The company’s earnings are primarily derived from real estate activities. Key revenue streams typically include: (1) proceeds from property development projects (recognized when properties are sold and relevant revenue recognition conditions are m...
Pacific Century Premium Developments Limited Financial Statement Overview
Summary
Income Statement
32
Negative
Balance Sheet
18
Very Negative
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 903.00M | 1.05B | 901.00M | 822.00M | 561.00M | 467.00M |
| Gross Profit | 597.00M | 738.00M | 620.00M | 547.00M | 137.00M | 97.00M |
| EBITDA | 180.00M | 264.00M | 281.00M | 105.00M | -6.00M | -141.00M |
| Net Income | 1.47B | -69.00M | -230.00M | -466.00M | -598.00M | -825.00M |
Balance Sheet | ||||||
| Total Assets | 14.95B | 11.35B | 10.87B | 11.03B | 11.29B | 15.05B |
| Cash, Cash Equivalents and Short-Term Investments | 3.23B | 725.00M | 659.00M | 865.00M | 1.34B | 3.58B |
| Total Debt | 7.65B | 9.24B | 9.89B | 9.48B | 9.01B | 11.37B |
| Total Liabilities | 12.01B | 11.31B | 10.80B | 10.34B | 10.08B | 12.50B |
| Stockholders Equity | 2.81B | -97.00M | -67.00M | 549.00M | 1.08B | 2.41B |
Cash Flow | ||||||
| Free Cash Flow | 1.47B | -406.00M | -145.00M | 171.00M | 45.00M | -656.00M |
| Operating Cash Flow | 1.52B | -359.00M | -75.00M | 245.00M | 101.00M | -394.00M |
| Investing Cash Flow | 3.71B | -51.00M | -73.00M | 16.00M | 1.80B | -2.20B |
| Financing Cash Flow | -3.64B | 422.00M | -79.00M | 9.00M | -2.76B | 2.95B |
Pacific Century Premium Developments Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | HK$7.03B | 10.21 | 3.22% | 5.24% | -10.82% | -1.24% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | HK$663.57M | 12.69 | 0.71% | 3.48% | -7.15% | ― | |
55 Neutral | HK$561.91M | -13.78 | -0.94% | 7.06% | -0.96% | 91.94% | |
53 Neutral | HK$552.33M | -94.50 | -0.09% | 4.17% | -2.16% | 98.09% | |
50 Neutral | HK$1.64B | -6.10 | -0.65% | 1.39% | -6.41% | -146.27% | |
44 Neutral | HK$428.03M | 0.27 | 108.51% | 85.37% | -17.31% | 97.25% |
* Real Estate Sector Average
HK:0432
Pacific Century Premium Developments Limited
0.21
<0.01
4.50%
HK:0071
Miramar Hotel & Investment Co
10.11
0.64
6.78%
HK:0410
SOHO China
0.32
-0.27
-45.76%
HK:0224
Pioneer Global Group Limited
0.58
-0.06
-8.73%
HK:0225
Pokfulam Development Co. Ltd.
5.10
-0.08
-1.47%
HK:0089
Tai Sang Land Development Limited
1.89
>-0.01
-0.47%
Pacific Century Premium Developments Limited Corporate Events
Pacific Century Premium Developments Updates Bermuda Registered Office Address
Jul 31, 2026
Pacific Century Premium Developments Limited, a Bermuda-incorporated property development company listed in Hong Kong, operates through a regional investor services network centred on Hong Kong for share and convertible note administration. Its go...
PCPD swings to interim loss as portfolio reshapes around luxury projects
Jul 29, 2026
Pacific Century Premium Developments reported a 7 per cent drop in consolidated revenue to HK$593 million for the six months ended June 30, 2026, with a loss attributable to equity holders of HK$189 million and no interim dividend declared. The pe...
PCPD Schedules Board Meeting to Approve Interim Results and Consider Dividend
Jul 17, 2026
Pacific Century Premium Developments Limited, a Bermuda-incorporated property developer listed on the Hong Kong Stock Exchange, oversees premium real estate projects through its group subsidiaries. The company is governed by a board that includes ...
PCPD shareholders back Jakarta and Niseko deals with near-unanimous vote
May 20, 2026
Pacific Century Premium Developments reported that shareholders overwhelmingly approved all resolutions at a special general meeting held on 20 May 2026, with nearly all votes cast in favour by poll. The approved matters include ratifying Jakarta ...
PCPD shareholders back all resolutions at 2026 AGM
May 20, 2026
Pacific Century Premium Developments reported that all resolutions at its 2026 annual general meeting were approved by shareholders through a poll on May 20 in Hong Kong. The measures included adoption of the 2025 audited financial statements, re-...
PCPD Plans US$500 Million 7.5% Guaranteed Notes Due 2029
May 11, 2026
Pacific Century Premium Developments has arranged for its subsidiary PCPD Capital to issue US$500 million of 7.5 per cent guaranteed notes due in 2029, with the parent acting as guarantor and HSBC as manager. The notes, to be listed on the Singapo...
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.