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Thelloy Development Group Limited
(1546)
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Rating:40Underperform
Price Target:
HK$0.11
▲(85.00% Upside)
Action:Downgraded
Date:08/04/26
The score is weighed down primarily by weak financial performance (recent losses, higher leverage, and persistent negative operating/free cash flow). Technicals also remain soft with price below key moving averages and a negative MACD, while valuation is constrained by a negative P/E and no provided dividend yield.
Positive Factors
Reported Revenue Growth
The reported 17.56% revenue-growth metric indicates the company has demonstrated an ability to expand its top line. If supported by stronger project execution and contract discipline, this can provide a base for rebuilding operating scale over the next several quarters.
Negative Factors
Sustained Losses and Volatile Revenue
Persistent losses, thin gross profit, and a sharp revenue decline after 2025 indicate weak earnings quality and an unstable project or demand mix. This limits internal funding capacity and makes a durable return to profitability dependent on improved execution and pricing.
Read all positive and negative factors
Positive Factors
Negative Factors
Reported Revenue Growth
The reported 17.56% revenue-growth metric indicates the company has demonstrated an ability to expand its top line. If supported by stronger project execution and contract discipline, this can provide a base for rebuilding operating scale over the next several quarters.
Read all positive factors
Thelloy Development Group Limited (1546) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$93.60M
Dividend Yield9.46%
Average Volume (3M)166.40K
Price to Earnings (P/E)―
Beta (1Y)0.07
Revenue Growth17.56%
EPS Growth34.89%
CountryHK
Employees96
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)-0.04
Shares Outstanding800,000,000
10 Day Avg. Volume109,600
30 Day Avg. Volume166,400
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)2.55
Price to Sales (P/S)0.46
P/FCF Ratio-4.25
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
Thelloy Development Group Limited Business Overview & Revenue Model
Company Description
Operating predominantly in Hong Kong, Thelloy Development Group Limited functions as an investment holding company that specializes in construction and project management services. Its extensive service portfolio includes general building construc...
Thelloy Development Group Limited Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
33
Negative
Cash Flow
18
Very Negative
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 470.43M | 400.17M | 257.99M | 259.14M | 204.34M |
| Gross Profit | 11.67M | 8.27M | 30.23M | 46.31M | 39.84M |
| EBITDA | -19.22M | -36.07M | 4.57M | 25.32M | 12.35M |
| Net Income | -33.48M | -51.36M | 8.28M | 12.66M | 4.26M |
Balance Sheet | |||||
| Total Assets | 367.91M | 399.78M | 352.85M | 341.27M | 272.35M |
| Cash, Cash Equivalents and Short-Term Investments | 31.73M | 31.38M | 32.07M | 66.03M | 56.56M |
| Total Debt | 143.87M | 155.79M | 73.82M | 65.39M | 23.07M |
| Total Liabilities | 283.07M | 281.46M | 183.17M | 179.87M | 123.61M |
| Stockholders Equity | 84.84M | 118.32M | 169.68M | 161.40M | 148.74M |
Cash Flow | |||||
| Free Cash Flow | -50.83M | -64.64M | -16.67M | -25.84M | -7.36M |
| Operating Cash Flow | -50.68M | -63.83M | -5.27M | -20.50M | -2.90M |
| Investing Cash Flow | 10.66M | -10.29M | -32.36M | -8.85M | -13.05M |
| Financing Cash Flow | 38.30M | 73.44M | 3.68M | 38.82M | -18.80M |
Thelloy Development Group Limited Technical Analysis
Negative
0.06
Price Trends
0.13
Negative
0.17
Negative
0.18
Negative
Market Momentum
>-0.01
Positive
32.11
Neutral
35.45
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1546, the sentiment is Negative. The current price of 0.06 is below the 20-day moving average (MA) of 0.13, below the 50-day MA of 0.13, and below the 200-day MA of 0.18, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 32.11 is Neutral, neither overbought nor oversold. The STOCH value of 35.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1546.
Thelloy Development Group Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
58 Neutral | HK$167.84M | 21.05 | 3.07% | 10.00% | 11.22% | ― | |
52 Neutral | HK$148.72M | -2.48 | -2.95% | 4.00% | -24.47% | -220.53% | |
46 Neutral | HK$162.40M | -1.06 | 848.01% | 1.96% | -25.29% | 7.74% | |
45 Neutral | HK$117.59M | -1.32 | -26.71% | ― | -51.29% | 43.87% | |
45 Neutral | HK$140.48M | -0.70 | -181.06% | ― | -9.47% | 39.22% | |
40 Underperform | HK$93.60M | -2.82 | -35.81% | 9.46% | 17.56% | 34.89% |
* Industrials Sector Average
HK:1546
Thelloy Development Group Limited
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Thelloy Development Group Limited Corporate Events
Thelloy Extends Circular Timeline and Long Stop Date for Service Agreement
Aug 31, 2026
Thelloy Development Group Limited has announced a further delay in sending a shareholder circular related to its Mutual Master Service Agreement, pushing the expected despatch date from on or before 31 August 2026 to on or before 30 September 2026...
Thelloy Shareholders Back All Resolutions at 2026 AGM
Aug 25, 2026
Thelloy Development Group Limited reported that all resolutions proposed at its annual general meeting on 25 August 2026 were approved by shareholders via electronic voting. The meeting covered key governance items, including the adoption of audit...
Thelloy Development Relocates Hong Kong Head Office Without Changing Registered Domicile
Aug 17, 2026
Thelloy Development Group Limited has relocated its head office and principal place of business in Hong Kong to Portion B of 11/F, Sui Ying Industrial Building, 1 Yuk Yat Street, To Kwa Wan, Kowloon, effective 17 August 2026. The company’s r...
Thelloy Development Further Delays Shareholder Circular on Service Agreement
Jul 31, 2026
Thelloy Development Group Limited is a construction and building services company listed on the Hong Kong Stock Exchange. It provides contracting and development services in Hong Kong under the oversight of a board that includes four executive dir...
Thelloy Development Group Sets 2026 AGM to Renew Board Mandates and Share Issuance Powers
Jul 30, 2026
Thelloy Development Group Limited, incorporated in the Cayman Islands and listed on the Hong Kong Stock Exchange under stock code 1546, is governed by a board comprising executive and independent non-executive directors. Its consolidated financial...
Thelloy Terminates Cooperation Deal With Fortune Peace and Delays Key Service Agreement Circular
Jul 7, 2026
Thelloy Development Group Limited has mutually agreed with Fortune Peace to terminate their Cooperation Framework Agreement, releasing both parties from all related obligations and confirming that no shareholder circular will be issued for the now...
Thelloy narrows annual loss as revenue climbs but skips dividend
Jun 29, 2026
Thelloy Development Group Limited reported a 17.5% rise in revenue to about HK$470.4 million for the year ended 31 March 2026, driven by higher project activity, while gross profit improved modestly. Despite this top-line growth, the group remaine...
Thelloy flags narrower annual loss on higher revenue and fund income
Jun 16, 2026
Thelloy Development Group Limited has warned it will post a net loss of not more than HK$35 million for the year ended 31 March 2026, a significant improvement on the HK$51.4 million loss recorded a year earlier. The narrower loss is mainly attrib...
Thelloy Development Sets June Board Meeting to Approve Annual Results and Consider Dividend
Jun 16, 2026
Thelloy Development Group Limited has scheduled a board meeting for 29 June 2026 to review and approve the audited consolidated financial results for the year ended 31 March 2026. The board will also consider the declaration of a final dividend, i...
Thelloy Development Plans Rebranding as Fortune Peace Development Group
Jun 12, 2026
Thelloy Development Group Limited plans to change its English and Chinese names to Fortune Peace Development Group Limited, subject to shareholder approval at an extraordinary general meeting and authorization by the Cayman Islands Registrar of Co...
Thelloy formalises related-party service and joint bidding deals with Fortune Peace
Jun 12, 2026
Thelloy Development Group Limited has entered into a Mutual Master Service Agreement with related-party Fortune Peace, under which each side may provide project-specific services to the other as required, formalising an ongoing services exchange b...
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.