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Times China Holdings
(1233)
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Rating:56Neutral
Price Target:
HK$0.06
▲(90.00% Upside)
Action:Reiterated
Date:10/01/26
The score is held back primarily by weak financial performance—sharp revenue contraction, ongoing operating losses, negative equity, and very high debt—despite a near-term positive from recent free cash flow. Technicals provide a meaningful offset with a clear uptrend and positive momentum indicators, while valuation appears optically low but is less reliable given the stressed fundamentals.
Positive Factors
Positive operating cash flow
Positive operating cash flow across 2023–2025 indicates that the business has generated cash from operations despite weak reported earnings. This provides some ongoing funding capacity for project commitments and working capital, although the amount remains modest relative to debt.
Negative Factors
Sharp revenue contraction
The sharp revenue contraction signals weakened property deliveries or sales recognition and reduces the operating base available to absorb fixed costs. Continued top-line pressure can constrain cash generation, delay recovery in profitability, and make the developer more dependent on balance-sheet support.
Read all positive and negative factors
Positive Factors
Negative Factors
Positive operating cash flow
Positive operating cash flow across 2023–2025 indicates that the business has generated cash from operations despite weak reported earnings. This provides some ongoing funding capacity for project commitments and working capital, although the amount remains modest relative to debt.
Read all positive factors
Times China Holdings (1233) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$165.25M
Dividend Yield4.04%
Average Volume (3M)19.02M
Price to Earnings (P/E)<0.1
Beta (1Y)0.64
Revenue Growth-73.22%
EPS GrowthN/A
CountryHK
Employees1,049
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)1.98
Shares Outstanding3,004,511,000
10 Day Avg. Volume11,567,400
30 Day Avg. Volume19,015,678
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)-0.01
Price to Sales (P/S)0.07
P/FCF Ratio0.24
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)-0.36
Revenue Forecast (FY)HK$7.27B
Times China Holdings Business Overview & Revenue Model
Company Description
Times China Holdings Limited, an investment holding firm, operates as a real estate developer across the People's Republic of China. Its business activities are categorized into three main divisions: Property Development, Urban Redevelopment Busin...
How the Company Makes Money
Times China Holdings primarily generates revenue from the sale of developed properties, recognizing income when residential and mixed-use units are delivered/handed over to customers under applicable accounting rules. A secondary source of revenue...
Times China Holdings Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
9
Very Negative
Cash Flow
41
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.32B | 3.35B | 13.11B | 21.01B | 24.42B | 43.64B |
| Gross Profit | -13.11B | -13.07B | -7.23B | 161.62M | 3.36B | 12.05B |
| EBITDA | -9.80B | -16.92B | -9.87B | -2.47B | -7.62B | 10.12B |
| Net Income | 6.92B | -205.70M | -16.61B | -4.51B | -9.86B | 3.26B |
Balance Sheet | ||||||
| Total Assets | 60.18B | 64.90B | 88.54B | 121.11B | 149.93B | 198.39B |
| Cash, Cash Equivalents and Short-Term Investments | 1.08B | 1.08B | 840.48M | 1.73B | 2.74B | 14.72B |
| Total Debt | 27.58B | 33.24B | 51.66B | 49.96B | 50.28B | 56.63B |
| Total Liabilities | 64.01B | 72.73B | 96.41B | 110.45B | 130.02B | 155.74B |
| Stockholders Equity | -11.62B | -15.66B | -16.42B | 633.38M | 5.75B | 19.26B |
Cash Flow | ||||||
| Free Cash Flow | 183.96M | 961.61M | 1.33B | 4.22B | -546.33M | 78.90M |
| Operating Cash Flow | 183.82M | 963.78M | 1.34B | 4.25B | -510.64M | 128.97M |
| Investing Cash Flow | 15.84M | 269.90M | -467.37M | 56.45M | 1.57B | -22.32B |
| Financing Cash Flow | -864.55M | -1.66B | -1.76B | -5.31B | -13.05B | 3.41B |
Times China Holdings Technical Analysis
Positive
0.03
Price Trends
0.04
Positive
0.04
Positive
0.06
Negative
Market Momentum
<0.01
Positive
55.14
Neutral
42.31
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1233, the sentiment is Positive. The current price of 0.03 is below the 20-day moving average (MA) of 0.05, below the 50-day MA of 0.04, and below the 200-day MA of 0.06, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 55.14 is Neutral, neither overbought nor oversold. The STOCH value of 42.31 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1233.
Times China Holdings 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% | |
56 Neutral | HK$165.25M | 0.02 | -50.76% | 4.04% | -73.22% | ― | |
48 Neutral | HK$82.87M | -0.02 | 72.87% | 5.97% | -70.44% | 20.78% | |
43 Neutral | HK$157.57M | <0.01 | 233.62% | 2.06% | 25.99% | ― | |
43 Neutral | HK$138.04M | -0.01 | 43.10% | 10.37% | -66.81% | 17.12% | |
41 Neutral | HK$109.19M | >-0.01 | 60.28% | 3.34% | -56.20% | -81.98% | |
40 Underperform | HK$152.10M | -0.02 | 592.20% | 41.82% | -55.40% | -340.10% |
* Real Estate Sector Average
HK:1233
Times China Holdings
0.06
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-58.33%
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Times China Holdings Corporate Events
Times China Details Interest Election on Senior Notes in Regulatory Filing
Sep 30, 2026
Times China Holdings Limited has announced an interest election relating to multiple tranches of senior notes listed on the Singapore Exchange, including 4.0% notes due 2029, 4.2% notes due 2032 and 4.5% notes due 2033/2035 issued under Regulation...
Times China Presses Ahead With Offshore and Onshore Debt Restructuring
Sep 30, 2026
Times China Holdings Limited has provided a quarterly update on its efforts to address an auditor’s disclaimer of opinion on its 2025 accounts, driven by going-concern uncertainties. The Group is implementing a series of liability management...
Times China Posts RMB2.24 Billion in Unaudited Contracted Sales for First Eight Months of 2026
Sep 7, 2026
Times China Holdings reported unaudited aggregated contracted sales of approximately RMB2,237 million for the eight months ended 31 August 2026, corresponding to about 219,700 square meters of gross floor area, including joint ventures. For August...
Times China Swings to Interim Profit Despite Sharp Drop in Sales
Aug 28, 2026
Times China Holdings, a Hong Kong-listed mainland property developer, reported sharply lower contracted sales of RMB1.83 billion for the first half of 2026, down 36.2% year on year, with the average selling price per square meter falling 22.5%. Re...
Times China Signals Interim Profit on Bond Restructuring Gains
Aug 25, 2026
Times China Holdings has issued a positive profit alert, indicating it expects to report a net profit attributable to shareholders of between RMB3.5 billion and RMB3.8 billion for the six months ended 30 June 2026, compared with a net loss of abou...
Times China Board to Review 2026 Interim Results and Consider Dividend
Aug 13, 2026
Times China Holdings has scheduled a board meeting for 28 August 2026 to review and approve the interim financial results for the six months ended 30 June 2026. The board will also consider whether to declare an interim dividend, a decision that c...
Times China Posts RMB2.0 Billion in Unaudited Contracted Sales for Seven Months to July 2026
Aug 4, 2026
Times China Holdings reported unaudited aggregated contracted sales of approximately RMB2,032 million for the seven months ended 31 July 2026, corresponding to about 202,800 square meters of gross floor area sold, including contributions from join...
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.