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Shenzhen Investment Holdings Bay Area Development Company
(0737)
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Rating:65Neutral
Price Target:
HK$2.00
â–²(3.63% Upside)
Action:Reiterated
Date:08/04/26
The score is primarily driven by mixed financial performance: strong reported margins and improved recent free cash flow are offset by a sharp TTM revenue decline and higher leverage with modest cash-flow-to-debt coverage. Technicals add modest support (slightly positive momentum and neutral RSI), while valuation is a key positive due to the moderate P/E and very high dividend yield.
Positive Factors
High reported profitability and FCF conversion
Very high TTM net margin (~60%) combined with free cash flow nearly matching net income (~98%) indicates strong earnings quality and internal funding ability. This supports capital spending, dividend capacity and resiliency through business cycles over the medium term.
Negative Factors
Sharp recent revenue decline
A 25% TTM revenue drop materially weakens the earnings base that currently supports high margins and cash flow. If top-line weakness persists, profitability and cash conversion could compress, undermining medium-term financial durability.
Read all positive and negative factors
Positive Factors
Negative Factors
High reported profitability and FCF conversion
Very high TTM net margin (~60%) combined with free cash flow nearly matching net income (~98%) indicates strong earnings quality and internal funding ability. This supports capital spending, dividend capacity and resiliency through business cycles over the medium term.
Read all positive factors
Shenzhen Investment Holdings Bay Area Development Company (0737) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$6.53B
Dividend Yield8.35%
Average Volume (3M)217.26K
Price to Earnings (P/E)10.5
Beta (1Y)0.14
Revenue Growth5.32%
EPS Growth17.84%
CountryHK
Employees549
SectorIndustrials
Sector Strength72
IndustryIndustrial - Infrastructure Operations
Share Statistics
EPS (TTM)0.17
Shares Outstanding3,331,690,200
10 Day Avg. Volume198,307
30 Day Avg. Volume217,259
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)1.11
Price to Sales (P/S)6.72
P/FCF Ratio9.37
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)0.18
Revenue Forecast (FY)HK$813.00M
Shenzhen Investment Holdings Bay Area Development Company Business Overview & Revenue Model
Company Description
Shenzhen Investment Holdings Bay Area Development Company Limited, an investment holding company, initiates, promotes, develops, and operates toll expressways and bridges in the People's Republic of China. It operates through Coastal Expressway (S...
How the Company Makes Money
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Shenzhen Investment Holdings Bay Area Development Company Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
55
Neutral
Cash Flow
60
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 812.45M | 766.06M | 879.49M | 944.78M | 789.70M | 613.51M |
| Gross Profit | 302.91M | 299.31M | 344.98M | 300.82M | 189.89M | 257.47M |
| EBITDA | 519.46M | 564.72M | 557.89M | 457.35M | 718.76M | 1.22B |
| Net Income | 514.41M | 455.43M | 460.92M | 528.48M | 278.57M | 711.43M |
Balance Sheet | ||||||
| Total Assets | 14.37B | 13.35B | 12.80B | 12.41B | 12.22B | 14.74B |
| Cash, Cash Equivalents and Short-Term Investments | 2.94B | 1.78B | 1.11B | 1.01B | 925.46M | 2.21B |
| Total Debt | 5.08B | 4.85B | 4.54B | 4.05B | 3.98B | 1.94B |
| Total Liabilities | 6.01B | 5.50B | 5.16B | 4.71B | 4.83B | 2.09B |
| Stockholders Equity | 5.12B | 4.65B | 4.55B | 4.75B | 4.54B | 8.36B |
Cash Flow | ||||||
| Free Cash Flow | 543.94M | 549.73M | 294.04M | 159.08M | -231.09M | -183.59M |
| Operating Cash Flow | 555.25M | 570.96M | 568.94M | 467.85M | 87.18M | -183.05M |
| Investing Cash Flow | -750.41M | -232.85M | 47.65M | 234.53M | 310.00M | 1.22B |
| Financing Cash Flow | -48.19M | -210.08M | -366.89M | -696.19M | -1.78B | -8.75M |
Shenzhen Investment Holdings Bay Area Development Company Technical Analysis
Positive
1.93
Price Trends
1.85
Positive
1.85
Positive
1.84
Positive
Market Momentum
0.03
Negative
65.43
Neutral
63.55
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0737, the sentiment is Positive. The current price of 1.93 is above the 20-day moving average (MA) of 1.91, above the 50-day MA of 1.85, and above the 200-day MA of 1.84, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 65.43 is Neutral, neither overbought nor oversold. The STOCH value of 63.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0737.
Shenzhen Investment Holdings Bay Area Development Company Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | HK$6.53B | 10.49 | 10.78% | 9.16% | 5.32% | 17.84% | |
64 Neutral | HK$5.81B | 9.32 | 4.55% | 7.16% | 9.30% | -17.27% | |
64 Neutral | HK$67.46B | 13.35 | 11.22% | 5.65% | -7.89% | 4.70% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | HK$22.73B | 19.70 | 4.77% | 4.16% | -1.39% | -16.72% | |
60 Neutral | HK$18.92B | 11.68 | 7.89% | 7.08% | 7.83% | -5.65% | |
53 Neutral | HK$12.82B | 8.31 | 4.33% | 8.61% | 14.56% | -44.01% |
* Industrials Sector Average
HK:0737
Shenzhen Investment Holdings Bay Area Development Company
1.95
0.22
12.65%
HK:1052
Yuexiu Transport Infrastructure
3.47
-0.56
-13.96%
HK:0177
Jiangsu Expressway Co
9.91
1.18
13.50%
HK:0107
Sichuan Expressway Co
4.81
0.47
10.79%
HK:0548
Shenzhen Expressway Co
6.75
-0.25
-3.60%
HK:0152
Shenzhen International Holdings
5.34
-2.53
-32.13%
Shenzhen Investment Holdings Bay Area Development Company Corporate Events
Shenzhen Investment Holdings Bay Area Development Sets Date for Interim Results Board Meeting
Jul 31, 2026
Shenzhen Investment Holdings Bay Area Development Company Limited has scheduled a board meeting for 14 August 2026 to review and approve the financial results for the six months ended 30 June 2026. The announcement signals the forthcoming release ...
Shenzhen Investment Holdings Bay Area Development Posts Provisional June Toll Revenues
Jul 28, 2026
Shenzhen Investment Holdings Bay Area Development Company Limited reported unaudited operating data for June 2026, highlighting toll revenues from its core expressway assets in the Greater Bay Area. The GS Superhighway generated RMB217.49 million ...
Shenzhen Investment Holdings Bay Area Development Sets Out Board and Committee Structure
Jul 13, 2026
Shenzhen Investment Holdings Bay Area Development Company Limited has announced the current composition of its board of directors, confirming a structure that includes three executive directors, three non-executive directors, and three independent...
Shenzhen Investment Holdings Bay Area Adds Veteran Expressway Executive Yu Hao to Board
Jul 13, 2026
Shenzhen Investment Holdings Bay Area Development Company has appointed Yu Hao as a non-executive director effective 13 July 2026, expanding its board to three executive, three non-executive and three independent non-executive directors. Yu, a sen...
Shenzhen Investment Holdings Bay Area Development completes HK$1.83 share subscription and restores standard public float
Jun 26, 2026
Shenzhen Investment Holdings Bay Area Development has completed a share subscription under its general mandate, issuing 250 million new shares at HK$1.8335 each to a new investor. Following the deal and the investor’s separate purchase of 40...
Shenzhen Investment Holdings Bay Area Development Adjusts 2025 Final Dividend with Dual‑Currency Option
Jun 26, 2026
Shenzhen Investment Holdings Bay Area Development Company announced an adjusted final dividend for the year ended 31 December 2025, declaring a payout of RMB 0.070297 per share, with a default payment in Hong Kong dollars at HKD 0.07995721 per sha...
Shenzhen Investment Holdings Bay Area Development Posts Provisional May Toll Revenue Figures
Jun 26, 2026
Shenzhen Investment Holdings Bay Area Development Company reported unaudited operating figures for May 2026, highlighting toll revenue from its three key expressways in the Greater Bay Area. The GS Superhighway generated RMB 194.6 million in tolls...
Shenzhen Investment Holdings Bay Area Development Announces Non-Executive Director Resignation
Jun 25, 2026
Shenzhen Investment Holdings Bay Area Development Company Limited, a Hong Kong–listed infrastructure and development player in the Greater Bay Area, maintains a board structure that includes executive, non-executive and independent non-execu...
Shenzhen Investment Holdings Bay Area Development Sets Out Board and Committee Structure
Jun 25, 2026
Shenzhen Investment Holdings Bay Area Development Company Limited, incorporated in the Cayman Islands and listed in Hong Kong under HKD and RMB counters, has outlined the composition of its board, which includes executive, non-executive and indepe...
Shenzhen Investment Holdings Bay Area Development Clears All AGM Resolutions and Confirms 2025 Payout
Jun 24, 2026
Shenzhen Investment Holdings Bay Area Development Company reported that all resolutions at its 24 June 2026 annual general meeting were approved by shareholders via poll, including receipt of 2025 audited accounts, re-election of directors, reappo...
Shenzhen Investment Holdings Bay Area Development Delays 2025 Final Dividend Schedule Amid Share Subscription
Jun 22, 2026
Shenzhen Investment Holdings Bay Area Development Company has rescheduled key dates related to its final dividend for the financial year ended 31 December 2025, citing the need for additional time to complete a previously announced share subscript...
Shenzhen Investment Holdings Bay Area Development Updates 2025 Final Dividend Timetable
Jun 22, 2026
Shenzhen Investment Holdings Bay Area Development Company Limited has declared a final ordinary dividend of RMB 0.076 per share for the financial year ended 31 December 2025, with shareholders able to receive payment in either Hong Kong dollars or...
Shenzhen Investment Holdings Bay Area Development Shifts to Alternative Float Threshold After Stake Increase
Jun 22, 2026
Shenzhen Investment Holdings Bay Area Development Company reported that its controlling shareholder, Shenzhen Investment International Capital Holdings Infrastructure, has completed the purchase of 251,207,411 shares from CMF Global Quantitative M...
Shenzhen Investment Holdings Bay Area Development Raises HK$456 Million via Share Placement
Jun 12, 2026
Shenzhen Investment Holdings Bay Area Development Company Limited has agreed to issue 250,000,000 new shares, representing about 8.11% of its existing share capital, to an independent subscriber under its general mandate. The shares will be priced...
Shenzhen Investment Holdings Bay Area Subsidiary Places RMB340 Million in Structured Deposits
Jun 4, 2026
Shenzhen Investment Holdings Bay Area Development’s non-wholly owned subsidiary, Coastal Company, has subscribed to two principal-guaranteed structured RMB deposit products from BOC Tairan Jingu Sub-branch, using internal funds. The first pr...
Shenzhen Investment Holdings Bay Area Development Calls 2026 AGM, Seeks Fresh Share Mandates
May 29, 2026
Shenzhen Investment Holdings Bay Area Development Company Limited has called its annual general meeting for 24 June 2026 in Hong Kong, where shareholders will review the audited financial statements for the year ended 31 December 2025 and consider...
Shenzhen Investment Holdings Bay Area Development Posts April Toll Revenues for Key Expressways
May 26, 2026
Shenzhen Investment Holdings Bay Area Development Company reported unaudited operating data for April 2026, highlighting toll revenues from its three major expressways. The GS Superhighway remained the largest contributor with RMB204.2 million in ...
Shenzhen Investment Holdings Bay Area Boosts Treasury Yields With RMB350 Million Structured Deposit
May 7, 2026
Shenzhen Investment Holdings Bay Area Development Company has expanded its use of wealth management products by having its non-wholly-owned subsidiary Coastal Company subscribe to a RMB350 million, 90-day principal-guaranteed, gold-linked structur...
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.