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Tysan Holdings Limited
(0687)
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Rating:71Outperform
Price Target:
HK$0.39
▲(17.27% Upside)
Action:Reiterated
Date:08/21/26
Overall score reflects solid financial resilience (low leverage and strong cash generation) offset by weakening revenue trends and thin margins. Technicals are mildly positive but not strong, while valuation benefits meaningfully from the very high dividend yield despite a mid-range P/E.
Positive Factors
Conservative balance sheet
Debt-to-equity of about 0.09 indicates conservative financing and preserves flexibility for project needs or downturns. Low leverage reduces refinancing exposure and interest burden, giving Tysan more capacity to absorb construction volatility and allocate cash without excessive balance-sheet strain.
Negative Factors
Declining revenue
Revenue fell about 18.6% in 2025 after a meaningful decline in 2024, showing weakening business volume across two consecutive years. For a contractor driven by awarded project value and volume, sustained contraction can weigh on future cash generation and profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Debt-to-equity of about 0.09 indicates conservative financing and preserves flexibility for project needs or downturns. Low leverage reduces refinancing exposure and interest burden, giving Tysan more capacity to absorb construction volatility and allocate cash without excessive balance-sheet strain.
Read all positive factors
Tysan Holdings Limited (0687) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.18B
Dividend Yield17.14%
Average Volume (3M)213.83K
Price to Earnings (P/E)25.4
Beta (1Y)0.49
Revenue Growth-18.58%
EPS Growth-27.75%
CountryHK
Employees631
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)0.01
Shares Outstanding3,366,035,600
10 Day Avg. Volume31,900
30 Day Avg. Volume213,833
Financial Highlights & Ratios
PEG Ratio0.35
Price to Book (P/B)0.94
Price to Sales (P/S)0.52
P/FCF Ratio3.36
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
Tysan Holdings Limited Business Overview & Revenue Model
Company Description
Tysan Holdings Limited functions as an investment holding company, primarily concentrating on foundation piling, site investigation, and property development and investment activities throughout the People's Republic of China. The firm delivers a ...
How the Company Makes Money
Tysan primarily makes money by contracting and delivering foundation and geotechnical engineering works for third-party construction projects. Revenue is mainly recognized under construction contracts (typically based on work progress/milestones u...
Tysan Holdings Limited Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
74
Positive
Cash Flow
77
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.07B | 2.07B | 2.40B | 2.70B | 2.47B | 2.20B |
| Gross Profit | 88.72M | 104.41M | 82.24M | 63.14M | 82.05M | 82.45M |
| EBITDA | 68.95M | 83.49M | 118.51M | 80.27M | 91.33M | 55.93M |
| Net Income | 46.40M | 61.32M | 40.79M | -13.04M | 4.53M | -107.00K |
Balance Sheet | ||||||
| Total Assets | 1.82B | 1.71B | 1.92B | 1.91B | 2.13B | 2.08B |
| Cash, Cash Equivalents and Short-Term Investments | 974.33M | 1.05B | 886.61M | 747.05M | 770.30M | 650.89M |
| Total Debt | 54.00M | 101.30M | 127.65M | 141.86M | 166.18M | 79.87M |
| Total Liabilities | 755.63M | 556.65M | 676.27M | 631.50M | 784.96M | 665.60M |
| Stockholders Equity | 1.07B | 1.15B | 1.24B | 1.28B | 1.34B | 1.42B |
Cash Flow | ||||||
| Free Cash Flow | 196.56M | 321.05M | 228.07M | 48.11M | 122.25M | -9.32M |
| Operating Cash Flow | 197.86M | 326.74M | 254.99M | 119.69M | 170.48M | 25.07M |
| Investing Cash Flow | -266.35M | -233.22M | 35.66M | -137.39M | -139.66M | -28.63M |
| Financing Cash Flow | -85.98M | -192.49M | -126.70M | -92.25M | -891.00K | -52.76M |
Tysan Holdings Limited Technical Analysis
Positive
0.33
Price Trends
0.31
Positive
0.30
Positive
0.29
Positive
Market Momentum
0.01
Negative
69.67
Neutral
100.00
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0687, the sentiment is Positive. The current price of 0.33 is below the 20-day moving average (MA) of 0.34, above the 50-day MA of 0.31, and above the 200-day MA of 0.29, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 69.67 is Neutral, neither overbought nor oversold. The STOCH value of 100.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0687.
Tysan Holdings Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | HK$1.70B | 3.72 | 15.72% | 12.32% | -12.79% | -0.62% | |
71 Outperform | HK$1.18B | 25.36 | 4.18% | 17.14% | -18.58% | -27.75% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
54 Neutral | HK$729.67M | 0.95 | 31.00% | 5.49% | -12.39% | ― | |
51 Neutral | HK$1.48B | 16.06 | 0.59% | 3.48% | 8.21% | -57.24% | |
43 Neutral | HK$273.63M | -0.30 | -31.01% | 7.32% | -22.33% | -203.23% | |
38 Underperform | HK$219.03M | -1.09 | -15.28% | 5.18% | 13.50% | -106.11% |
* Industrials Sector Average
HK:0687
Tysan Holdings Limited
0.35
0.08
28.68%
HK:0240
Build King Holdings
1.38
0.18
14.87%
HK:0896
Hanison Construction Holdings
0.26
-0.02
-7.27%
HK:0406
Yau Lee Holdings Limited
0.50
-0.24
-32.43%
HK:2355
Baoye Group Co., Ltd. Class H
2.82
-1.28
-31.22%
HK:0610
Wai Kee Holdings Limited
0.92
0.15
19.48%
Tysan Holdings Limited Corporate Events
Tysan Holdings Posts Flat Revenue, Lower Profit but Stays in Net Cash Position
Aug 19, 2026
Tysan Holdings reported interim turnover of HK$1,151 million for the six months ended 30 June 2026, virtually flat year-on-year, while profit attributable to shareholders fell to HK$19 million from HK$34 million. Despite the profit decline, the gr...
Tysan Holdings Declares Interim Dividend for First Half of 2026
Aug 19, 2026
Tysan Holdings Limited has declared an interim ordinary cash dividend of HKD 0.03 per share for the six months ended 30 June 2026, reflecting its continued practice of returning capital to shareholders. The dividend will be paid in Hong Kong dolla...
Tysan warns of profit drop on weaker foundation piling margins
Aug 12, 2026
Tysan Holdings Limited has issued a profit warning for the six months ended 30 June 2026, signaling a significant year-on-year decline in interim earnings. Based on unaudited management accounts, the group expects net profit to fall to around HK$1...
Tysan Holdings Sets August Board Meeting to Approve 2026 Interim Results
Aug 7, 2026
Tysan Holdings Limited has scheduled a board meeting for 3:00 p.m. on 19 August 2026 in Hong Kong to review and approve the group’s interim results for the six months ended 30 June 2026. The board will also consider the publication of these ...
Tysan shifts Bermuda registered office while keeping Hong Kong share registrar
Aug 3, 2026
Tysan Holdings Limited has announced that its registered office address in Bermuda will change to Richmond House, 12 Par-la-Ville Road, Hamilton HM 08, effective 3 August 2026. The move reflects an administrative relocation of its corporate regist...
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.