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New City Development Group Limited
(0456)
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Rating:45Neutral
Price Target:
HK$0.55
â–˛(24.09% Upside)
Action:Reiterated
Date:10/03/26
The score is driven primarily by weak financial performance—deep losses, contracting revenue, and sharply higher leverage with reduced equity—partially offset by strong but potentially volatile recent cash generation. Technical signals are largely neutral with limited trend strength, while valuation is constrained by losses (negative P/E) and the absence of a dividend yield.
Positive Factors
Strong 2025 cash generation
Strong positive operating and free cash flow provides an important source of internal funding and is the clearest financial offset to the company’s weak earnings. If sustained, this cash generation could support obligations and reduce reliance on external financing over the next several quarters.
Negative Factors
Sustained revenue contraction
Several years of contracting revenue point to weakening business scale and make it harder for the company to absorb fixed costs or rebuild profitability. Continued top-line pressure can also reduce operating leverage and limit the resources available for sustainable growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong 2025 cash generation
Strong positive operating and free cash flow provides an important source of internal funding and is the clearest financial offset to the company’s weak earnings. If sustained, this cash generation could support obligations and reduce reliance on external financing over the next several quarters.
Read all positive factors
New City Development Group Limited (0456) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$112.47M
Dividend YieldN/A
Average Volume (3M)61.90K
Price to Earnings (P/E)―
Beta (1Y)0.54
Revenue Growth-39.55%
EPS Growth-72.98%
CountryHK
Employees46
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)-1.79
Shares Outstanding214,228,880
10 Day Avg. Volume39,800
30 Day Avg. Volume61,897
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)0.43
Price to Sales (P/S)1.09
P/FCF Ratio0.33
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
New City Development Group Limited Business Overview & Revenue Model
Company Description
New City Development Group Limited operates as an investment holding firm, with its main activities centered on property development and investments across the People's Republic of China. The company also diversifies its operations through bus sal...
New City Development Group Limited Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
27
Negative
Cash Flow
56
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 42.53M | 63.50M | 98.61M | 172.93M | 180.19M | 197.82M |
| Gross Profit | -2.92M | 20.23M | 49.80M | 79.87M | 81.81M | 93.76M |
| EBITDA | -240.87M | -221.51M | -112.67M | -163.57M | -55.19M | -21.67M |
| Net Income | -309.48M | -220.96M | -127.65M | -125.95M | -76.23M | -64.42M |
Balance Sheet | ||||||
| Total Assets | 1.56B | 1.47B | 1.61B | 1.73B | 1.97B | 2.29B |
| Cash, Cash Equivalents and Short-Term Investments | 62.21M | 64.21M | 8.46M | 36.82M | 33.15M | 42.02M |
| Total Debt | 416.69M | 402.42M | 253.17M | 700.53M | 736.76M | 864.71M |
| Total Liabilities | 1.60B | 1.37B | 1.34B | 1.36B | 1.44B | 1.55B |
| Stockholders Equity | 82.46M | 159.46M | 327.94M | 406.06M | 544.19M | 706.42M |
Cash Flow | ||||||
| Free Cash Flow | 197.81M | 211.50M | 58.70M | 109.80M | 175.73M | -274.09M |
| Operating Cash Flow | 211.94M | 226.57M | 62.62M | 115.80M | 175.74M | -266.01M |
| Investing Cash Flow | 13.07M | 12.13M | -3.87M | -6.00M | 85.00K | -8.68M |
| Financing Cash Flow | -230.93M | -244.00M | -60.29M | -108.64M | -216.04M | 232.43M |
New City Development Group Limited Technical Analysis
Neutral
0.44
Price Trends
0.51
Positive
0.54
Positive
0.51
Positive
Market Momentum
0.01
Positive
49.90
Neutral
48.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0456, the sentiment is Neutral. The current price of 0.44 is below the 20-day moving average (MA) of 0.55, below the 50-day MA of 0.51, and below the 200-day MA of 0.51, indicating a neutral trend. The MACD of 0.01 indicates Positive momentum. The RSI at 49.90 is Neutral, neither overbought nor oversold. The STOCH value of 48.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:0456.
New City Development Group 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% | |
46 Neutral | HK$108.54M | -1.32 | -6.58% | 5.45% | -10.18% | -11.53% | |
45 Neutral | HK$112.47M | -0.29 | -255.84% | ― | -39.55% | -72.98% | |
45 Neutral | HK$138.21M | 0.02 | -50.76% | 4.04% | -73.22% | ― | |
44 Neutral | HK$69.77M | -0.02 | -79.82% | 3.55% | -30.07% | -13.55% | |
42 Neutral | HK$113.40M | -0.34 | -38.15% | 11.27% | -46.69% | -3.44% |
* Real Estate Sector Average
HK:0456
New City Development Group Limited
0.53
-0.07
-12.50%
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0.05
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<0.01
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New City Development Group Limited Corporate Events
New City Development Updates Investors on Receivers’ Search for Buyer of Charged Shares
Oct 14, 2026
New City Development Group Limited has issued a monthly update under Hong Kong’s Takeovers Code, confirming that receivers appointed over 86,485,742 charged shares remain actively engaged in seeking a potential purchaser. The receivers have ...
New City Development Group Revamps Company Secretary and Compliance Roles
Oct 7, 2026
New City Development Group Limited has announced changes to its key governance roles, with the resignation of company secretary and authorised representative Eva Lee, effective 7 October 2026. The board stated that Lee has no disagreements with di...
New City Development Updates Investors on Ongoing Search for Buyer of Charged Shares
Sep 14, 2026
New City Development Group Limited has disclosed that joint receivers and managers appointed over 86,485,742 charged shares of the company continue to seek a buyer for this sizeable stake. The board reiterated that the receivers, who were appointe...
New City Development Group Updates Board and Committee Roles
Aug 31, 2026
New City Development Group Limited has announced the latest composition of its board, confirming HAN Junran as chairman and co-chief executive officer alongside executive directors LUO Min and deputy chairman Luo Zhen, and four independent non-exe...
New City Development boosts board with appointment of deputy chairman
Aug 31, 2026
New City Development Group Limited has strengthened its senior leadership by appointing executive director Luo Zhen as deputy chairman with effect from 31 August 2026, adding further depth to the governance of the Hong Kong-listed real estate grou...
New City Development Group Swings to Deep Interim Loss on Revenue Drop and Surging Finance Costs
Aug 31, 2026
New City Development Group Limited reported a sharp decline in revenue to HK$7.3 million for the six months ended 30 June 2026, down from HK$28.3 million a year earlier, with gross profit collapsing to HK$0.6 million from HK$25.6 million. The comp...
New City Development Group Sets Board Meeting to Approve Interim Results
Aug 18, 2026
New City Development Group Limited has scheduled a board meeting for 31 August 2026 to review and approve the interim results for the six months ended 30 June 2026. The session, to be held in the afternoon, will also address any other business, si...
New City Development Fully Utilises HK$6.63 Million Share Proceeds for Working Capital
Aug 17, 2026
New City Development Group Limited has clarified how it used the proceeds from a January 2025 subscription of 21 million new shares at HK$0.325 each, which generated net proceeds of about HK$6.63 million intended for general working capital. The c...
New City Development Updates Market on Sale Talks Over Charged Shares
Aug 14, 2026
New City Development Group Limited has issued a monthly update under Hong Kong’s Takeovers Code, confirming that receivers appointed over 86,485,742 charged shares are continuing to seek a buyer. The receivers have received expressions of in...
New City Development Names Li Yang Co-CEO in Leadership Reshuffle
Aug 12, 2026
New City Development Group Limited has reshaped its top management structure, appointing veteran investment and technology executive Li Yang as Co-Chief Executive Officer and redesignating Han Junran from Chief Executive Officer to Co-CEO, effecti...
New City Development Group Clarifies Board and Committee Structure
Aug 12, 2026
New City Development Group Limited has announced the current composition of its board, led by executive director and chairman Han Junran, who also serves as co-chief executive officer alongside fellow executive directors Luo Min and Luo Zhen. The ...
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.