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Wing Lee Development Construction Holdings Limited
(9639)
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Rating:53Neutral
Price Target:
HK$1.00
▼(-18.03% Downside)
Action:Reiterated
Date:10/30/26
The score is primarily held back by weak cash-flow quality and recent fundamental deterioration (negative operating cash flow and sustained negative free cash flow), despite a comparatively manageable leverage profile. Technicals show a strong uptrend but are overbought, and the elevated P/E (58.5) further constrains the rating given the recent volatility in margins and returns.
Positive Factors
Manageable Leverage
Moderate and improving leverage gives Wing Lee Development Construction a stronger capital base and greater financial flexibility than a heavily indebted contractor. Lower balance-sheet strain can support continued operations and investment while reducing the risk that debt service constrains future decisions.
Negative Factors
Weak Cash Generation
Negative operating and free cash flow means reported earnings are not currently converting reliably into cash. Persistent cash absorption can reduce financial flexibility, increase dependence on funding or working-capital improvement, and limit the company’s ability to reinvest without balance-sheet pressure.
Read all positive and negative factors
Positive Factors
Negative Factors
Manageable Leverage
Moderate and improving leverage gives Wing Lee Development Construction a stronger capital base and greater financial flexibility than a heavily indebted contractor. Lower balance-sheet strain can support continued operations and investment while reducing the risk that debt service constrains future decisions.
Read all positive factors
Wing Lee Development Construction Holdings Limited (9639) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.20B
Dividend YieldN/A
Average Volume (3M)227.13K
Price to Earnings (P/E)60.0
Beta (1Y)-0.08
Revenue Growth-13.44%
EPS Growth-66.85%
CountryHK
Employees362
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)0.02
Shares Outstanding1,000,000,000
10 Day Avg. Volume431,400
30 Day Avg. Volume227,133
Financial Highlights & Ratios
PEG Ratio-0.88
Price to Book (P/B)2.92
Price to Sales (P/S)1.74
P/FCF Ratio-15.88
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
Wing Lee Development Construction Holdings Limited Business Overview & Revenue Model
Company Description
Wing Lee Development Construction Holdings Limited, an investment holding company, provides civil and electrical cable engineering, and solar photovoltaic (PV) system contracting services in Hong Kong. The company operates through Civil Engineerin...
How the Company Makes Money
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Wing Lee Development Construction Holdings Limited Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
72
Positive
Cash Flow
28
Negative
| Breakdown | Mar 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 620.32M | 716.64M | 526.10M | 361.21M | 520.35M |
| Gross Profit | 91.52M | 144.41M | 121.61M | 75.53M | 93.61M |
| EBITDA | 56.35M | 90.42M | 109.11M | 64.03M | 83.90M |
| Net Income | 18.42M | 55.46M | 76.91M | 40.56M | 59.05M |
Balance Sheet | |||||
| Total Assets | 671.13M | 569.22M | 365.78M | 258.38M | 268.83M |
| Cash, Cash Equivalents and Short-Term Investments | 74.26M | 93.68M | 27.36M | 5.47M | 13.34M |
| Total Debt | 111.39M | 72.17M | 52.93M | 53.21M | 50.67M |
| Total Liabilities | 301.23M | 217.62M | 210.38M | 139.39M | 190.38M |
| Stockholders Equity | 369.90M | 351.59M | 155.39M | 119.00M | 77.91M |
Cash Flow | |||||
| Free Cash Flow | -68.03M | -60.14M | 50.81M | 16.40M | 1.85M |
| Operating Cash Flow | -20.21M | 5.39M | 69.39M | 36.78M | 7.92M |
| Investing Cash Flow | -50.45M | -91.54M | -39.61M | -35.87M | -5.49M |
| Financing Cash Flow | 31.31M | 152.47M | -7.89M | -8.78M | 2.00M |
Wing Lee Development Construction Holdings Limited Technical Analysis
Positive
1.22
Price Trends
0.96
Positive
0.95
Positive
1.02
Positive
Market Momentum
0.06
Negative
82.92
Negative
73.03
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9639, the sentiment is Positive. The current price of 1.22 is above the 20-day moving average (MA) of 0.99, above the 50-day MA of 0.96, and above the 200-day MA of 1.02, indicating a bullish trend. The MACD of 0.06 indicates Negative momentum. The RSI at 82.92 is Negative, neither overbought nor oversold. The STOCH value of 73.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:9639.
Wing Lee Development Construction Holdings Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | HK$1.73B | 3.76 | 15.72% | 12.19% | -12.79% | -0.62% | |
71 Outperform | HK$1.08B | 23.19 | 4.18% | 18.75% | -18.58% | -27.75% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | HK$725.71M | 0.94 | 31.00% | 5.49% | -12.39% | ― | |
53 Neutral | HK$1.20B | 60.00 | 4.97% | ― | -13.44% | -66.85% | |
48 Neutral | HK$992.50M | -935.84 | -0.44% | 1.67% | 4.76% | -144.68% | |
43 Neutral | HK$316.56M | -0.35 | -31.01% | 7.32% | -22.33% | -203.23% |
* General Sector Average
HK:9639
Wing Lee Development Construction Holdings Limited
1.20
0.08
7.14%
HK:0240
Build King Holdings
1.39
0.01
0.87%
HK:0896
Hanison Construction Holdings
0.30
0.05
19.43%
HK:1903
JBB Builders International Ltd.
1.99
0.21
11.52%
HK:0610
Wai Kee Holdings Limited
0.92
0.13
15.82%
HK:0687
Tysan Holdings Limited
0.32
0.04
15.94%
Wing Lee Development Construction Holdings Limited Corporate Events
Wing Lee Development Construction Moves to Raise HK$97 Million Through Share Placing
Oct 28, 2026
Wing Lee Development Construction Holdings Limited has entered into a placing agreement to issue up to 100,000,000 new shares at HK$0.97 each under its existing general mandate. The new shares represent 10.00% of the current issued share capital a...
Wing Lee Development Wins Full Shareholder Backing for AGM Resolutions and Governance Update
Sep 18, 2026
Wing Lee Development Construction Holdings Limited reported that all resolutions at its 18 September 2026 annual general meeting were approved by poll with 100% of votes cast in favour. Shareholders endorsed the audited financial statements, re-el...
Wing Lee Development Construction Calls AGM to Renew Governance and Capital Mandates
Jul 31, 2026
Wing Lee Development Construction Holdings Limited, a Hong Kong-listed construction and development company incorporated in the Cayman Islands, provides construction-related services to the local market under the oversight of a board that includes...
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.