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Binhai Investment Co
(2886)
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Rating:54Neutral
Price Target:
HK$1.00
▼(-8.26% Downside)
Action:Reiterated
Date:08/04/26
The score is held back primarily by weakening financial performance (sharp revenue decline, margin compression, and weaker free-cash-flow quality). Valuation provides meaningful support via a low P/E and high dividend yield, while technical indicators are broadly neutral and do not materially improve or worsen the outlook.
Positive Factors
Improving leverage
Debt-to-equity fell to ~1.35 from ~1.77 while total debt declined to ~2.94B (equity stable ~2.18–2.25B). This deleveraging reduces financial risk, eases interest burden and covenant pressure, and gives management more flexibility to fund capex, stabilize operations or accelerate repair of margins over coming months.
Negative Factors
Sharp revenue decline
Top-line revenue plunged ~48.5% in 2025 following modest decline in 2024. Such a large contraction materially reduces scale and operating leverage, may reflect structural demand loss or contract timing issues, and undermines the firm’s ability to absorb fixed costs and reinvest to restore growth over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving leverage
Debt-to-equity fell to ~1.35 from ~1.77 while total debt declined to ~2.94B (equity stable ~2.18–2.25B). This deleveraging reduces financial risk, eases interest burden and covenant pressure, and gives management more flexibility to fund capex, stabilize operations or accelerate repair of margins over coming months.
Read all positive factors
Binhai Investment Co (2886) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.58B
Dividend Yield7.46%
Average Volume (3M)105.29K
Price to Earnings (P/E)7.4
Beta (1Y)0.51
Revenue Growth-0.33%
EPS Growth4.98%
CountryHK
Employees1,756
SectorUtilities
Sector Strength65
IndustryRegulated Gas
Share Statistics
EPS (TTM)0.15
Shares Outstanding1,383,255,100
10 Day Avg. Volume186,040
30 Day Avg. Volume105,293
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)0.74
Price to Sales (P/S)0.29
P/FCF Ratio15.13
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)0.2
Revenue Forecast (FY)HK$6.58B
Binhai Investment Co Business Overview & Revenue Model
Company Description
Binhai Investment Company Limited operates as an investment holding enterprise, primarily engaged in Hong Kong's energy sector. The company's core activities include establishing gas pipeline infrastructure, offering connection services, and distr...
How the Company Makes Money
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Binhai Investment Co Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
57
Neutral
Cash Flow
44
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.61B | 5.61B | 6.20B | 6.41B | 6.10B | 4.84B |
| Gross Profit | 505.67M | 577.98M | 569.48M | 748.98M | 727.32M | 855.44M |
| EBITDA | 420.90M | 520.86M | 612.73M | 728.45M | 699.62M | 781.95M |
| Net Income | 213.60M | 206.15M | 199.78M | 256.61M | 325.83M | 399.66M |
Balance Sheet | ||||||
| Total Assets | 7.42B | 7.40B | 7.75B | 8.59B | 8.57B | 8.18B |
| Cash, Cash Equivalents and Short-Term Investments | 226.21M | 184.07M | 385.00M | 935.40M | 845.25M | 742.18M |
| Total Debt | 3.30B | 2.94B | 3.34B | 3.92B | 3.93B | 3.15B |
| Total Liabilities | 4.96B | 5.02B | 5.45B | 6.27B | 6.28B | 5.86B |
| Stockholders Equity | 2.60B | 2.18B | 2.22B | 2.23B | 2.22B | 2.25B |
Cash Flow | ||||||
| Free Cash Flow | 112.94M | 107.19M | 216.24M | 246.87M | -285.59M | -224.78M |
| Operating Cash Flow | 540.47M | 545.57M | 594.99M | 832.38M | 350.25M | 486.15M |
| Investing Cash Flow | -436.23M | -403.79M | -213.40M | -586.86M | -802.42M | -613.39M |
| Financing Cash Flow | -265.34M | -344.56M | -780.61M | -252.55M | 617.13M | 444.82M |
Binhai Investment Co Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | HK$1.55B | 6.78 | 10.22% | ― | 37.80% | 33.31% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
62 Neutral | HK$1.09B | 6.58 | 11.46% | 5.80% | 3.91% | -15.37% | |
54 Neutral | HK$1.58B | 7.37 | 8.94% | 7.46% | -0.33% | 4.98% | |
46 Neutral | HK$277.74M | 25.52 | -0.96% | 12.27% | 18.34% | ― | |
45 Neutral | HK$818.50M | 10.00 | 5.34% | 4.04% | 8.89% | -5.26% |
* Utilities Sector Average
HK:2886
Binhai Investment Co
1.12
0.06
5.76%
HK:1265
Tianjin Jinran Public Utilities Co. Ltd. Class H
0.15
-0.06
-28.10%
HK:9908
JiaXing Gas Group Co. Ltd. Class H
7.79
0.17
2.27%
HK:1940
China Gas Industry Investment Holdings Co.Ltd.
1.28
0.63
96.92%
HK:6661
Huzhou Gas Co., Ltd. Class H
4.95
0.10
2.06%
HK:6828
Beijing Gas Blue Sky Holdings Ltd
0.04
-0.01
-27.45%
Binhai Investment Co Corporate Events
Binhai Investment Updates Bermuda Registered Office While Keeping Hong Kong Registrar Unchanged
Jul 14, 2026
Binhai Investment Company Limited has announced that, with effect from 3 August 2026, its registered office, principal share registrar and transfer agent in Bermuda, Conyers Corporate Services (Bermuda) Limited, will relocate to Richmond House, 12...
Binhai Investment Formalises Connected Natural Gas Pipeline Fee Arrangements
Jun 30, 2026
Binhai Investment Co. has entered a natural gas pipeline transportation settlement agreement involving its wholly owned subsidiary TEDA Clean Energy, its transmission branch, and non-wholly owned subsidiary TEDA Gas, to formalize the transmission ...
Binhai Investment Strikes Three-Year Clean Energy Pact With Sinopec’s New Energy Arm
Jun 1, 2026
Binhai Investment’s BHI Tianjin unit has signed a three-year strategic cooperation agreement with Sinopec Star New Energy Company, the new energy investment platform of China Petroleum Chemical Corporation. The partnership aims to blend BHI...
Binhai Investment inks five-year green hydrogen supply pact with Sinopec unit
May 21, 2026
Binhai Investment’s Tianjin subsidiary has signed a five-year Green Hydrogen Supply Framework Agreement with Sinopec Star New Energy, a wholly owned unit of China Petroleum Chemical Corporation. The partnership centers on supplying and inte...
Binhai Investment Shareholders Approve 2025 Results and Final Dividend at AGM
May 8, 2026
Binhai Investment Company Limited reported that all resolutions at its annual general meeting on 8 May 2026 were passed by shareholders via poll, including approval of the audited consolidated financial statements for the year ended 31 December 20...
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.