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Plover Bay Technologies Ltd.
(1523)
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Rating:77Outperform
Price Target:
HK$8.00
▲(8.11% Upside)
Action:Reiterated
Date:08/01/26
The score is driven primarily by strong financial performance (high profitability, conservative balance sheet, and solid cash generation). Technical signals are mixed based on moving averages, and valuation is moderate with a supportive dividend yield but a not-cheap P/E.
Positive Factors
High and improving profitability
Persistently high gross margins above roughly 54% and improving operating profitability indicate a strong economic model with meaningful earnings retention. This profile can support reinvestment and resilience over the next several quarters, provided revenue growth remains healthy.
Negative Factors
Uneven revenue growth
The near-flat revenue growth recorded in 2024 shows that expansion has not been consistent across periods, even though 2025 improved. Uneven top-line performance can make future earnings less predictable and may complicate planning for investment and capacity.
Read all positive and negative factors
Positive Factors
Negative Factors
High and improving profitability
Persistently high gross margins above roughly 54% and improving operating profitability indicate a strong economic model with meaningful earnings retention. This profile can support reinvestment and resilience over the next several quarters, provided revenue growth remains healthy.
Read all positive factors
Plover Bay Technologies Ltd. (1523) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$7.92B
Dividend Yield5.29%
Average Volume (3M)726.95K
Price to Earnings (P/E)19.4
Beta (1Y)0.57
Revenue Growth16.15%
EPS Growth26.85%
CountryHK
Employees216
SectorTechnology
Sector Strength88
IndustryCommunication Equipment
Share Statistics
EPS (TTM)0.05
Shares Outstanding1,107,684,000
10 Day Avg. Volume695,350
30 Day Avg. Volume726,947
Financial Highlights & Ratios
PEG Ratio0.98
Price to Book (P/B)14.42
Price to Sales (P/S)6.53
P/FCF Ratio16.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$9.86Price Target Upside33.24% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.39
Revenue Forecast (FY)HK$1.19B
Plover Bay Technologies Ltd. Business Overview & Revenue Model
Company Description
Plover Bay Technologies Limited functions as an investment holding company with a global presence, primarily engaged in the creation, production, promotion, and distribution of software-defined wide area network (SD-WAN) routers. The company addit...
Plover Bay Technologies Ltd. Financial Statement Overview
Summary
Income Statement
88
Very Positive
Balance Sheet
86
Very Positive
Cash Flow
84
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 141.62M | 130.14M | 116.79M | 94.26M | 86.76M | 74.13M |
| Gross Profit | 81.46M | 74.12M | 64.15M | 50.91M | 46.51M | 43.16M |
| EBITDA | 61.62M | 53.47M | 48.86M | 33.44M | 29.43M | 27.21M |
| Net Income | 51.45M | 45.47M | 38.05M | 28.10M | 22.66M | 21.20M |
Balance Sheet | ||||||
| Total Assets | 122.76M | 118.24M | 110.11M | 85.28M | 83.29M | 71.74M |
| Cash, Cash Equivalents and Short-Term Investments | 55.16M | 67.38M | 65.93M | 36.74M | 28.66M | 33.17M |
| Total Debt | 7.42M | 1.97M | 11.10M | 4.47M | 8.72M | 7.02M |
| Total Liabilities | 66.83M | 59.31M | 53.81M | 35.05M | 40.00M | 31.66M |
| Stockholders Equity | 55.93M | 58.93M | 56.30M | 50.22M | 43.29M | 40.08M |
Cash Flow | ||||||
| Free Cash Flow | 45.58M | 53.12M | 54.09M | 35.84M | 16.81M | 18.35M |
| Operating Cash Flow | 46.39M | 53.88M | 55.16M | 37.72M | 17.57M | 18.92M |
| Investing Cash Flow | 4.74M | -1.27M | 754.00K | -956.00K | -1.05M | -1.39M |
| Financing Cash Flow | -47.74M | -53.72M | -26.65M | -28.83M | -19.38M | -16.91M |
Plover Bay Technologies Ltd. Technical Analysis
Negative
7.40
Price Trends
7.64
Negative
8.00
Negative
7.41
Negative
Market Momentum
-0.14
Positive
37.73
Neutral
9.70
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1523, the sentiment is Negative. The current price of 7.4 is below the 20-day moving average (MA) of 7.42, below the 50-day MA of 7.64, and below the 200-day MA of 7.41, indicating a bearish trend. The MACD of -0.14 indicates Positive momentum. The RSI at 37.73 is Neutral, neither overbought nor oversold. The STOCH value of 9.70 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1523.
Plover Bay Technologies Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | HK$7.92B | 19.36 | 89.60% | 5.29% | 16.15% | 26.85% | |
73 Outperform | HK$281.45B | 111.79 | 30.10% | 0.85% | 38.70% | 468.60% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
52 Neutral | HK$2.23B | 78.89 | 0.86% | 0.37% | 4.27% | ― | |
52 Neutral | HK$430.95M | 8.54 | 4.88% | 1.72% | 11.57% | -26.37% | |
51 Neutral | HK$3.95B | -52.11 | -14.47% | ― | 76.36% | 48.06% | |
45 Neutral | HK$170.08B | 46.82 | 4.35% | 2.06% | 11.81% | -55.08% |
* Technology Sector Average
HK:1523
Plover Bay Technologies Ltd.
7.15
0.61
9.29%
HK:2342
Comba Telecom Systems Holdings
0.71
-2.13
-74.99%
HK:6869
Yangtze Optical Fibre and Cable Joint Stock Co
183.50
132.84
262.20%
HK:0763
ZTE
22.98
-11.14
-32.65%
HK:9963
Transtech Optelecom Science Holdings Limited
9.90
9.48
2257.14%
HK:1617
Nanfang Communication Holdings Ltd.
0.26
0.13
92.59%
Plover Bay Technologies Ltd. Corporate Events
Plover Bay Technologies Declares Interim Dividend for First Half of 2026
Jul 30, 2026
Plover Bay Technologies Ltd. has declared an interim ordinary cash dividend of HKD 0.1566 per share for the six months ended 30 June 2026, for the financial year ending 31 December 2026. The move underscores the company’s commitment to retur...
Plover Bay Technologies Delivers Double-Digit Profit Growth and Raises Interim Dividend
Jul 30, 2026
Plover Bay Technologies reported a strong set of interim results for the six months ended 30 June 2026, with revenue rising 18.5% year-on-year to approximately US$74.6 million and gross profit climbing to US$43.8 million. Net profit attributable t...
Plover Bay Board Sets Date to Review Interim Results and Dividend
Jul 20, 2026
Plover Bay Technologies Limited has scheduled a board meeting for 30 July 2026 to review and approve the unaudited interim results for the six months ended 30 June 2026. The board will also consider the declaration of a dividend, which could have ...
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.