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Wai Kee Holdings Limited
(0610)
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Rating:52Neutral
Price Target:
HK$0.94
▲(2.61% Upside)
Action:Reiterated
Date:08/06/26
The score is held back primarily by weak financial performance (persistent net losses, declining revenue, and equity erosion), partly mitigated by stronger 2025 operating/free cash flow and a moderate leverage profile. Technicals are supportive due to price trading above key moving averages and a positive MACD, but momentum is stretched (high RSI/Stoch). Valuation offers limited support because the negative P/E reflects ongoing losses and no dividend yield is available.
Positive Factors
Improved cash generation
Meaningful improvement in operating and free cash flow provides durable internal funding to support project execution, working-capital needs and near-term capex. Stronger cash conversion reduces reliance on external financing and gives management flexibility to stabilize operations over the next several quarters.
Negative Factors
Persistent net losses
Sustained multi-year net losses have eroded equity and produce deeply negative returns. This structural profitability shortfall weakens the capital base, constrains reinvestment and shareholder returns, and raises the risk that continued losses will limit strategic options over the coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved cash generation
Meaningful improvement in operating and free cash flow provides durable internal funding to support project execution, working-capital needs and near-term capex. Stronger cash conversion reduces reliance on external financing and gives management flexibility to stabilize operations over the next several quarters.
Read all positive factors
Wai Kee Holdings Limited (0610) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$717.78M
Dividend Yield5.49%
Average Volume (3M)81.28K
Price to Earnings (P/E)0.9
Beta (1Y)0.34
Revenue Growth-12.39%
EPS GrowthN/A
CountryHK
Employees3,711
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)-3.06
Shares Outstanding793,124,000
10 Day Avg. Volume127,000
30 Day Avg. Volume81,279
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)0.30
Price to Sales (P/S)0.05
P/FCF Ratio0.81
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
Wai Kee Holdings Limited Business Overview & Revenue Model
Company Description
Established in 1970 and based in Tsim Sha Tsui, Hong Kong, Wai Kee Holdings Limited functions as an investment holding company with significant operations in the construction and infrastructure sector. The group's activities span both Hong Kong an...
How the Company Makes Money
The company generates earnings primarily through (i) contracting revenue from construction and engineering projects and (ii) returns from property-related activities (property development and/or property investment). In its contracting businesses,...
Wai Kee Holdings Limited Financial Statement Overview
Summary
Income Statement
32
Negative
Balance Sheet
52
Neutral
Cash Flow
61
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 13.94B | 14.48B | 12.71B | 12.63B | 10.28B |
| Gross Profit | 1.28B | 1.32B | 1.46B | 1.14B | 902.28M |
| EBITDA | -1.97B | 592.79M | 792.65M | 806.58M | 607.92M |
| Net Income | -2.43B | -3.09B | -1.59B | -6.76M | 676.16M |
Balance Sheet | |||||
| Total Assets | 9.78B | 12.64B | 16.36B | 17.59B | 18.40B |
| Cash, Cash Equivalents and Short-Term Investments | 3.07B | 2.63B | 2.16B | 3.08B | 3.06B |
| Total Debt | 680.88M | 1.19B | 1.59B | 1.78B | 2.27B |
| Total Liabilities | 6.16B | 6.89B | 7.26B | 6.71B | 6.94B |
| Stockholders Equity | 2.43B | 4.64B | 8.10B | 9.98B | 10.68B |
Cash Flow | |||||
| Free Cash Flow | 885.99M | 648.00M | 250.66M | 958.54M | -853.05M |
| Operating Cash Flow | 1.01B | 753.53M | 312.13M | 1.09B | -516.07M |
| Investing Cash Flow | 557.67M | 79.22M | -593.47M | -29.12M | 221.26M |
| Financing Cash Flow | -734.01M | -528.23M | -381.85M | -793.83M | 689.95M |
Wai Kee Holdings Limited Technical Analysis
Positive
0.92
Price Trends
0.90
Negative
0.88
Positive
0.90
Positive
Market Momentum
>-0.01
Positive
45.94
Neutral
40.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0610, the sentiment is Positive. The current price of 0.92 is above the 20-day moving average (MA) of 0.92, above the 50-day MA of 0.90, and above the 200-day MA of 0.90, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 45.94 is Neutral, neither overbought nor oversold. The STOCH value of 40.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0610.
Wai Kee Holdings Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | HK$1.80B | 3.88 | 15.72% | 11.81% | -12.79% | -0.62% | |
71 Outperform | HK$1.16B | 24.64 | 4.18% | 17.65% | -18.58% | -27.75% | |
67 Neutral | HK$44.16B | 5.25 | 10.83% | 7.34% | -14.20% | -12.79% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
52 Neutral | HK$717.78M | 0.94 | 31.00% | 5.49% | -12.39% | ― | |
51 Neutral | HK$1.18B | -3,983.44 | -0.11% | 1.67% | -2.02% | -101.97% | |
42 Neutral | HK$221.22M | -1.10 | -15.28% | 5.18% | 13.50% | -106.11% |
* Industrials Sector Average
HK:0610
Wai Kee Holdings Limited
0.91
0.20
28.17%
HK:0240
Build King Holdings
1.44
0.23
19.19%
HK:3311
China State Construction International Holdings
8.51
-1.45
-14.52%
HK:0406
Yau Lee Holdings Limited
0.51
-0.21
-29.86%
HK:1903
JBB Builders International Ltd.
2.31
0.95
69.85%
HK:0687
Tysan Holdings Limited
0.34
0.09
33.33%
Wai Kee Holdings Limited Corporate Events
Wai Kee Shifts Bermuda Registered Office While Maintaining Hong Kong Share Registrar
Jul 30, 2026
Wai Kee Holdings Limited announced that, effective 3 August 2026, its registered office, principal share registrar and transfer office in Bermuda will relocate to Richmond House, 12 Par-la-Ville Road, Hamilton HM 08, Bermuda. The company confirmed...
Wai Kee’s Build King to Acquire Paul Y. Construction Units in HK$100 Million Deal
Jul 24, 2026
Wai Kee Holdings and its subsidiary Build King have moved to expand their construction portfolio through PrimeStone, a wholly owned unit of Build King, agreeing to acquire nearly 100% of several Paul Y. Engineering-linked construction companies th...
Wai Kee Shareholders Approve AGM Resolutions as Veteran INED Retires
May 22, 2026
Shareholders of Wai Kee Holdings Limited approved all resolutions at the 22 May 2026 annual general meeting, including the adoption of the 2025 financial statements, re-election of three directors, and renewal of mandates to issue and repurchase s...
Wai Kee Sets Out Board Composition and Committee Roles
May 22, 2026
Wai Kee Holdings Limited has announced the current composition of its board, naming Chairman and Chief Executive Officer Mr. Zen Wei Peu, Derek, alongside executive directors Miss Chiu Wai Yee, Anriena, and Mr. Zen Chung Hei, Hayley, as well as th...
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.