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China Sandi Holdings Ltd.
(0910)
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Rating:38Underperform
Price Target:
HK$1.00
â–²(9900.00% Upside)
Action:Reiterated
Date:10/09/26
The score is driven primarily by very weak financial performance, including sustained losses, negative recent operating/free cash flow, and a deteriorated balance sheet with negative equity and high debt. Technicals also remain bearish with the price far below key moving averages and a negative MACD, while valuation inputs are not supportive given an unusable P/E and no dividend yield data.
Positive Factors
Mixed Property Revenue Model
The combination of development income and recurring rental or property-operation revenue gives the group more than one route to generate earnings. Rental activities can provide steadier cash flow than property sales, while development offers scope for periodic revenue growth when projects are delivered.
Negative Factors
Sharp Revenue Decline and Sustained Losses
The sharp revenue contraction and multi-year loss period indicate weakened operating performance rather than a single-quarter setback. Persistently negative earnings reduce internal funding capacity, make recovery more dependent on asset performance or financing, and increase uncertainty around future profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Mixed Property Revenue Model
The combination of development income and recurring rental or property-operation revenue gives the group more than one route to generate earnings. Rental activities can provide steadier cash flow than property sales, while development offers scope for periodic revenue growth when projects are delivered.
Read all positive factors
China Sandi Holdings Ltd. (0910) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$33.07M
Dividend YieldN/A
Average Volume (3M)96.91K
Price to Earnings (P/E)―
Beta (1Y)1.26
Revenue Growth-49.48%
EPS Growth86.69%
CountryHK
Employees133
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)-22.66
Shares Outstanding25,441,038
10 Day Avg. Volume16,584
30 Day Avg. Volume96,910
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)-0.37
Price to Sales (P/S)0.05
P/FCF Ratio-1.29
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
China Sandi Holdings Ltd. Business Overview & Revenue Model
Company Description
Operating as an investment holding company, China Sandi Holdings Limited specializes in the investment and development of real estate across the People's Republic of China. The company's operations are divided into distinct segments: property deve...
How the Company Makes Money
The company’s earnings are primarily generated from its property businesses. Key revenue streams typically include: (1) Property development income: revenue recognized from the sale of developed properties (e.g., residential or commercial units) w...
China Sandi Holdings Ltd. Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
14
Very Negative
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.20B | 1.38B | 2.25B | 3.65B | 4.02B | 3.54B |
| Gross Profit | 308.06M | 267.54M | 147.72M | 556.82M | 1.11B | 950.06M |
| EBITDA | -134.09M | -233.78M | -4.81B | -393.06M | ― | 701.86M |
| Net Income | -576.96M | -587.91M | -4.39B | -513.35M | 48.96M | 204.53M |
Balance Sheet | ||||||
| Total Assets | 17.00B | 16.30B | 17.94B | 25.75B | 26.12B | 36.68B |
| Cash, Cash Equivalents and Short-Term Investments | 140.81M | 91.67M | 202.75M | 162.89M | 896.93M | 1.35B |
| Total Debt | 7.50B | 7.35B | 7.27B | 7.05B | 7.64B | 11.03B |
| Total Liabilities | 17.16B | 16.26B | 17.36B | 20.70B | 21.05B | 30.44B |
| Stockholders Equity | -401.68M | -194.71M | 352.92M | 4.84B | 4.88B | 5.92B |
Cash Flow | ||||||
| Free Cash Flow | 103.17M | -55.09M | -53.69M | -467.34M | 1.12B | 925.13M |
| Operating Cash Flow | 106.88M | -55.06M | -52.57M | -467.08M | 1.12B | 929.52M |
| Investing Cash Flow | -26.63M | 51.43M | -29.07M | 336.99M | 320.28M | -1.51B |
| Financing Cash Flow | -53.23M | -64.76M | 39.69M | -477.89M | -1.73B | 290.13M |
China Sandi Holdings Ltd. Technical Analysis
Negative
0.01
Price Trends
3.21
Negative
3.00
Negative
2.90
Negative
Market Momentum
-0.57
Positive
32.84
Neutral
5.75
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0910, the sentiment is Negative. The current price of 0.01 is below the 20-day moving average (MA) of 2.92, below the 50-day MA of 3.21, and below the 200-day MA of 2.90, indicating a bearish trend. The MACD of -0.57 indicates Positive momentum. The RSI at 32.84 is Neutral, neither overbought nor oversold. The STOCH value of 5.75 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0910.
China Sandi Holdings Ltd. 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% | |
48 Neutral | HK$89.50M | -0.02 | 72.87% | 5.97% | -70.44% | 20.78% | |
46 Neutral | HK$45.61M | -0.09 | -77.03% | ― | -13.32% | -25.42% | |
43 Neutral | HK$45.53M | -0.90 | -13.13% | ― | 21.98% | 84.38% | |
41 Neutral | HK$113.56M | >-0.01 | 60.28% | 3.34% | -56.20% | -81.98% | |
38 Underperform | HK$33.07M | ― | 193.53% | ― | -49.48% | 86.69% |
* Real Estate Sector Average
HK:0910
China Sandi Holdings Ltd.
1.30
-1.50
-53.57%
HK:1124
Coastal Greenland Limited
0.11
-0.19
-62.71%
HK:6158
Zhenro Properties Group Limited
0.03
-0.01
-33.33%
HK:0845
Glorious Property Holdings Limited
0.01
0.00
0.00%
HK:1996
Redsun Properties Group Ltd.
0.03
-0.02
-35.71%
HK:0755
Shanghai Zendai Property Ltd.
0.26
-0.15
-36.25%
China Sandi Holdings Ltd. Corporate Events
China Sandi refreshes independent board and audit leadership
Oct 9, 2026
China Sandi Holdings Ltd. announced board and committee changes effective 9 October 2026, highlighting ongoing efforts to refresh its independent oversight and corporate governance structure. The move underscores the company’s focus on maint...
China Sandi Updates Board and Committee Structure
Oct 9, 2026
China Sandi Holdings Limited has updated its board composition effective 9 October 2026, confirming a mix of executive, non-executive and independent non-executive directors led by chairman Guo Jiadi. The clarified structure aims to strengthen gov...
China Sandi Sets Effective Date for Capital Reorganisation and New Share Trading
Oct 5, 2026
China Sandi Holdings Limited, incorporated in Bermuda and listed on the Hong Kong Stock Exchange under stock code 910, is an investment holding company with business interests in mainland China. The board is chaired by Guo Jiadi and includes a mix...
China Sandi Wins Near-Unanimous Shareholder Support at Hong Kong AGM
Oct 2, 2026
China Sandi Holdings Ltd. reported that shareholders approved all resolutions at its annual general meeting held on 2 October 2026 in Hong Kong, with votes cast by poll and overseen by Tricor Investor Services as scrutineer. The meeting confirmed ...
China Sandi Moves to Ease Liquidity Strain After Auditor’s Disclaimer
Sep 30, 2026
China Sandi Holdings Limited has outlined progress on a series of liquidity and refinancing measures designed to address a disclaimer of opinion issued by its external auditor over material uncertainties relating to its ability to continue as a go...
China Sandi Calls 2026 AGM to Approve Two Years of Accounts and Expand Share Mandate
Sep 8, 2026
China Sandi Holdings Limited, incorporated in Bermuda and listed in Hong Kong under stock code 910, oversees a group of subsidiaries and maintains a conventional governance structure with executive and independent non-executive directors. The comp...
China Sandi Narrows Interim Loss but Revenue Halves on Property Weakness
Aug 31, 2026
China Sandi Holdings Limited reported unaudited interim results for the six months ended 30 June 2026, showing a sharp decline in total revenue to RMB142.5 million from RMB315.7 million a year earlier, driven mainly by weaker sales of goods and se...
China Sandi Updates Bermuda Registered Office and Confirms Hong Kong Share Registrar
Aug 21, 2026
China Sandi Holdings Limited has changed the address of its registered office and its principal share registrar and transfer office in Bermuda, effective 21 August 2026, now locating these functions at Richmond House, 12 Par-la-Ville Road, Hamilto...
China Sandi Holdings Revamps Company Secretary Role to Bolster Governance
Aug 20, 2026
China Sandi Holdings Limited has announced a change in its senior corporate governance function with the resignation of company secretary Mr. Poon Wai Kong, effective 20 August 2026. The board noted that Mr. Poon has no disagreement with directors...
China Sandi Sets Board Meeting to Approve Interim Results and Mull Dividend
Aug 19, 2026
China Sandi Holdings 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 meeting will also consider whether to declare an interim dividend, signaling potenti...
China Sandi Plans Deep Share Consolidation and Capital Reorganisation
Aug 17, 2026
China Sandi Holdings has proposed a comprehensive capital reorganisation that will consolidate every 200 existing ordinary and preference shares into one share with a par value of HK$2.00, sharply reducing the number of shares in issue while keepi...
China Sandi Restores Compliance and Trading After Audit Disruptions
Jul 30, 2026
China Sandi Holdings Limited has announced that it has fulfilled the resumption guidance set by the Hong Kong Stock Exchange, clearing the way for trading in its shares to restart. The move follows delays in releasing its 2024 annual and 2025 inte...
China Sandi Adds Veteran Governance Expert to Board Amid Trading Suspension
Jul 15, 2026
China Sandi Holdings Limited has appointed Dr. Poon Wai Kong as an executive director effective 15 July 2026, adding a seasoned financial management and corporate governance specialist to its leadership. Dr. Poon, who has over 20 years of experien...
China Sandi refreshes board and committee leadership to bolster governance
Jul 15, 2026
China Sandi Holdings Limited, incorporated in Bermuda and listed on the Hong Kong Stock Exchange under stock code 910, operates an investment holding business with a governance structure built around executive, non-executive and independent non-ex...
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.