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Golden Wheel Tiandi Holdings Co. Ltd.
(1232)
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Rating:52Neutral
Price Target:
HK$0.36
▼(-6.67% Downside)
Action:Reiterated
Date:08/17/26
The score is held down primarily by weak financial performance—persistent losses, declining revenue, and a highly stressed balance sheet with negative equity—only partly offset by comparatively better (but volatile) cash flow. Technicals are a notable positive, with price trading above key moving averages and positive momentum indicators. Valuation remains constrained due to negative earnings (negative P/E) and no provided dividend yield.
Positive Factors
Diversified property income model
The combination of development sales, recurring rents, and management fees gives the company multiple earnings channels rather than dependence on one activity. Rental and service income can provide continuity between development cycles, while the platform may support broader monetization of operated properties over time.
Negative Factors
Persistent losses and negative margins
Persistent net losses and negative operating profitability indicate that the current business model is not producing dependable earnings. The reversal to a negative gross margin in 2025 is particularly concerning because it signals that property-level pricing or cost economics have deteriorated, weakening margin recovery prospects.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified property income model
The combination of development sales, recurring rents, and management fees gives the company multiple earnings channels rather than dependence on one activity. Rental and service income can provide continuity between development cycles, while the platform may support broader monetization of operated properties over time.
Read all positive factors
Golden Wheel Tiandi Holdings Co. Ltd. (1232) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$75.75M
Dividend Yield3.14%
Average Volume (3M)40.77K
Price to Earnings (P/E)<0.1
Beta (1Y)0.58
Revenue Growth-19.44%
EPS GrowthN/A
CountryHK
Employees456
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)7.05
Shares Outstanding210,421,510
10 Day Avg. Volume53,745
30 Day Avg. Volume40,772
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)-0.09
Price to Sales (P/S)0.13
P/FCF Ratio0.66
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
Golden Wheel Tiandi Holdings Co. Ltd. Business Overview & Revenue Model
Company Description
Golden Wheel Tiandi Holdings Company Limited operates as an investment holding firm, primarily focusing on developing commercial and residential real estate throughout Mainland China and Hong Kong. The company's business activities are structured ...
How the Company Makes Money
The company makes money primarily through (1) revenue from property development, where it develops properties and recognizes sales proceeds (and related profits) when completed units are sold to customers; (2) recurring rental income from leasing ...
Golden Wheel Tiandi Holdings Co. Ltd. Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
9
Very Negative
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 506.92M | 452.68M | 796.38M | 2.39B | 2.66B | 1.78B |
| Gross Profit | 113.22M | 146.66M | 154.03M | 71.35M | -132.01M | -27.53M |
| EBITDA | -51.86M | -7.34M | -649.23M | -476.72M | -556.28M | -1.78B |
| Net Income | 1.28B | -584.29M | -823.94M | -1.04B | -1.05B | -1.99B |
Balance Sheet | ||||||
| Total Assets | 4.78B | 7.46B | 8.12B | 10.00B | 12.31B | 13.84B |
| Cash, Cash Equivalents and Short-Term Investments | 77.40M | 81.85M | 97.88M | 209.26M | 193.22M | 346.91M |
| Total Debt | 634.95M | 705.83M | 4.19B | 4.48B | 5.35B | 5.24B |
| Total Liabilities | 2.88B | 7.86B | 7.93B | 9.03B | 10.38B | 10.91B |
| Stockholders Equity | 1.62B | -675.10M | -93.40M | 733.00M | 1.79B | 2.84B |
Cash Flow | ||||||
| Free Cash Flow | 2.50M | 90.52M | -27.23M | 382.78M | -193.73M | 940.79M |
| Operating Cash Flow | 2.51M | 90.53M | -15.54M | 382.91M | -193.62M | 1.02B |
| Investing Cash Flow | 8.77M | 10.98M | 15.40M | 6.36M | 587.03M | 206.96M |
| Financing Cash Flow | -47.39M | -139.63M | -111.41M | -373.48M | -549.14M | -1.73B |
Golden Wheel Tiandi Holdings Co. Ltd. Technical Analysis
Positive
0.39
Price Trends
0.36
Positive
0.40
Positive
0.39
Positive
Market Momentum
<0.01
Positive
57.83
Neutral
55.26
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1232, the sentiment is Positive. The current price of 0.39 is below the 20-day moving average (MA) of 0.43, above the 50-day MA of 0.36, and below the 200-day MA of 0.39, indicating a bullish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 57.83 is Neutral, neither overbought nor oversold. The STOCH value of 55.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1232.
Golden Wheel Tiandi Holdings Co. 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% | |
52 Neutral | HK$75.75M | 0.06 | 270.26% | 3.14% | -19.44% | ― | |
46 Neutral | HK$45.61M | -0.09 | -77.03% | ― | -13.32% | -25.42% | |
44 Neutral | HK$126.66M | >-0.01 | 60.28% | 3.34% | -56.20% | -81.98% | |
44 Neutral | HK$117.03M | -0.19 | 193.53% | ― | -49.49% | 86.69% | |
43 Neutral | HK$45.53M | -0.92 | -13.13% | ― | 21.98% | 84.38% |
* Real Estate Sector Average
HK:1232
Golden Wheel Tiandi Holdings Co. Ltd.
0.48
-0.24
-33.33%
HK:1124
Coastal Greenland Limited
0.11
-0.40
-78.43%
HK:6158
Zhenro Properties Group Limited
0.03
-0.01
-34.15%
HK:0845
Glorious Property Holdings Limited
0.01
0.00
0.00%
HK:0755
Shanghai Zendai Property Ltd.
0.26
-0.16
-38.10%
HK:0910
China Sandi Holdings Ltd.
0.02
<0.01
50.00%
Golden Wheel Tiandi Holdings Co. Ltd. Corporate Events
Golden Wheel Tiandi Swings to Interim Profit on Offshore Debt Restructuring Gain
Aug 27, 2026
Golden Wheel Tiandi Holdings reported interim revenue of RMB342.4 million for the six months ended 30 June 2026, an 18.8% increase year-on-year, while total contracted sales fell 44.7% to RMB167.1 million, highlighting ongoing weakness in new prop...
Golden Wheel Tiandi Flags Large Interim Profit on Debt Restructuring Gain
Aug 20, 2026
Golden Wheel Tiandi Holdings Company Limited has issued a positive profit alert, indicating that it expects to report a profit attributable to shareholders of at least RMB1,500 million for the six months ended 30 June 2026. This compares with a ne...
Golden Wheel Tiandi Sets August Board Meeting to Approve Interim Results and Dividend
Aug 12, 2026
Golden Wheel Tiandi Holdings Company Limited has scheduled a board meeting in Hong Kong on 27 August 2026 to review and approve the interim results for the six months ended 30 June 2026. The board will also consider the possible declaration of an ...
Golden Wheel Tiandi Finalises Offshore Debt Restructuring With New Notes and Shares
Jun 26, 2026
Golden Wheel Tiandi Holdings Company Limited has completed the restructuring of its offshore debt, announcing that all conditions have been satisfied and the restructuring became effective on 26 June 2026. The move finalises a process triggered by...
Golden Wheel Tiandi Sets Expected Effective Date for Debt Restructuring
Jun 24, 2026
Golden Wheel Tiandi Holdings Company Limited has provided an update on its ongoing debt restructuring of existing senior notes, including the 10.0% notes due 2025, confirming it has progressed toward meeting the agreed conditions. The company anti...
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.