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SEM Holdings Limited (9929) AI Stock Analysis
SEM Holdings Limited
(HKEX:9929)
The score is held down primarily by weak and unstable operating performance and cash generation (recent return to losses and negative operating/free cash flow). Technicals add further pressure, with the stock trading below key moving averages and bearish momentum indicators. A relatively strong, low-debt balance sheet provides some cushion but is not enough to offset earnings and cash flow volatility, while valuation is not supportive due to the negative P/E and lack of dividend data.
SEM Holdings Limited (9929) vs. iShares MSCI Hong Kong ETF (EWH)
- Market Cap
- HKD 2.40B
- Dividend Yield
- ―
- Average Volume (3M)
- 3.09M
- Price to Earnings (P/E)
- -33.0
- Beta (1Y)
- 0.44
- Revenue Growth
- 33.88%
- EPS Growth
- -735.09%
- Country
- Hong Kong
- Employees
- 147
- Sector
- Industrials
- Sector Strength
- 63
- Industry
- Engineering & Construction
SEM Holdings Limited Business Overview & Revenue Model
Company Description
Operating as an investment holding company, SEM Holdings Limited specializes in delivering electrical and mechanical (E&M) engineering services across Macau and Hong Kong. The firm provides end-to-end electrical system solutions, from supply and inst...
SEM Holdings Limited Financial Statement Overview
Summary
Overall fundamentals are weak despite a solid balance sheet. Income statement performance is volatile with a sharp 2025 swing to a large operating and net loss after a profitable 2024, and revenue remains materially below prior peaks. Cash flow is a major concern, with operating and free cash flow turning negative again in 2024–2025. Offsetting these negatives, leverage is low and the balance sheet is relatively conservatively positioned.
Income Statement
32NegativeBalance Sheet
78PositiveCash Flow
28Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 83.49M | 66.26M | 91.71M | 258.89M | 281.33M | 176.87M |
| Gross Profit | 2.85M | 3.74M | 23.52M | 19.51M | 23.15M | 20.85M |
| EBITDA | -59.58M | -16.69M | 6.65M | -5.09M | -3.82M | -1.98M |
| Net Income | -72.48M | -18.86M | 3.80M | -7.97M | -6.73M | -4.72M |
Balance Sheet | ||||||
| Total Assets | 244.97M | 226.36M | 257.60M | 259.91M | 268.46M | 265.06M |
| Cash, Cash Equivalents and Short-Term Investments | 33.08M | 63.91M | 72.13M | 56.05M | 40.80M | 66.38M |
| Total Debt | 40.48M | 1.02M | 6.09M | 6.91M | 7.75M | 8.63M |
| Total Liabilities | 96.88M | 33.07M | 44.66M | 50.77M | 51.34M | 41.22M |
| Stockholders Equity | 148.08M | 193.29M | 212.94M | 209.14M | 217.11M | 223.84M |
Cash Flow | ||||||
| Free Cash Flow | -77.44M | -2.16M | -1.63M | 14.79M | -5.67M | -64.74M |
| Operating Cash Flow | -76.58M | -1.41M | -1.44M | 15.10M | -5.18M | -41.42M |
| Investing Cash Flow | 31.98M | 15.25M | 23.45M | 3.04M | -12.06M | -26.72M |
| Financing Cash Flow | -5.39M | -6.05M | -1.76M | -2.00M | -2.06M | 6.30M |
SEM Holdings Limited Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9929, the sentiment is Negative. The current price of 1.20 is below the 20-day moving average (MA) of 1.32, below the 50-day MA of 1.46, and below the 200-day MA of 1.26, indicating a bearish trend. The MACD of -0.07 indicates Positive momentum. The RSI at 33.69 is Neutral, neither overbought nor oversold. The STOCH value of 28.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:9929.
SEM Holdings Limited Peers Comparison
Overall Rating
HK:024084Outperform
HK:068771Outperform
HK:235562Neutral
HK:252047Neutral
HK:083046.1Neutral- HK:992945Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| HK:0240 | 84Outperform | HKD 1.73B | 3.76 | 15.72% | 12.19% | -12.79% | -0.62% |
| HK:0687 | 71Outperform | HKD 1.08B | 23.19 | 4.18% | 18.75% | -18.58% | -27.75% |
| Sector * | 63Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
| HK:2355 | 62Neutral | HKD 1.48B | 16.04 | 0.59% | 3.46% | 8.21% | -57.24% |
| HK:2520 | 47Neutral | HKD 3.21B | 16.81 | 6.95% | 1.00% | -16.42% | 8.50% |
| HK:0830 | 46Neutral | HKD 1.31B | -84.06 | -0.53% | 4.83% | -15.27% | -103.20% |
| HK:9929 | 45Neutral | HKD 2.40B | -33.01 | -42.47% | ― | 33.88% | -735.09% |
* Industrials Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| HK:9929 | SEM Holdings Limited | 1.20 | 1.13 | 1614.29% | |
| HK:0240 | Build King Holdings | 1.39 | -0.01 | -0.43% | |
| HK:2355 | Baoye Group Co., Ltd. Class H | 2.83 | -1.18 | -29.34% | |
| HK:0687 | Tysan Holdings Limited | 0.32 | 0.05 | 17.65% | |
| HK:0830 | China State Construction Development Holdings Limited | 0.58 | -0.55 | -48.49% | |
| HK:2520 | Shanxi Installation Group Co., Ltd. Class H | 2.34 | 0.26 | 12.66% |
SEM Holdings Limited Corporate Events
Yaopop Holdings Launches Corporate Rebrand With Name, Ticker and Hong Kong Office Changes
Yaopop Holdings Limited has formally changed its corporate name from SEM Holdings Limited, along with its Chinese dual foreign name, following shareholder approval and registration with authorities in the Cayman Islands and Hong Kong. The move is acc...
SEM Holdings posts sharp revenue growth but flags volatility in evolving IP business
SEM Holdings Limited reported strong unaudited top-line momentum for the nine months ended 30 September 2026, with group revenue reaching approximately HK$346 million as the company advanced its IP-focused business and expanded its engineering and ca...
SEM Holdings Discloses Large Prepayments to Pokémon-Affiliated Supplier
SEM Holdings has disclosed that prepayments made to a key supplier, Pokémon (Shanghai) Toys Co., Ltd, for trading card products exceeded disclosure thresholds under Hong Kong listing rules. The group’s prepayments to this supplier reached...
SEM Holdings Wins Unanimous Shareholder Backing for New Share Scheme and Name Change
SEM Holdings Limited reported that shareholders at its extraordinary general meeting on 15 September 2026 approved all resolutions put forward by the board. Voting was conducted by poll, with Tricor Investor Services acting as scrutineer, and all dir...
SEM Holdings Reshapes Top Management With New CFO and CEO Changes
SEM Holdings Limited has announced a series of senior management changes effective 7 September 2026, including the resignation of Executive Director and Chief Executive Officer Wan Man Keung. Wan will continue to serve as a director of certain subsid...
SEM Holdings Sets Out Board and Committee Structure
SEM Holdings Limited has announced the composition of its board of directors, confirming one executive director, a non-executive chairman and three independent non-executive directors. The disclosure clarifies the company’s leadership structure...
SEM Holdings Sets EGM to Approve New Share Scheme and Corporate Rebranding
SEM Holdings Limited has called an extraordinary general meeting for 15 September 2026 in Shanghai, where shareholders will vote on adopting a new 2026 Share Scheme with a mandate limit equal to 10 percent of the company’s issued share capital,...
SEM Holdings Plans Rebrand to Yaopop Holdings in Strategic Name Change
SEM Holdings Limited, a Cayman Islands-incorporated company listed on the Hong Kong Stock Exchange, plans to rebrand by changing its English name to Yaopop Holdings Limited and its Chinese name accordingly. The board sees the new names as better refl...
SEM Holdings Swings to Interim Loss Despite Revenue Growth
SEM Holdings Limited reported a sharp increase in unaudited interim revenue to HK$38.78 million for the six months ended 30 June 2026, up from HK$21.55 million a year earlier, but the group swung to a substantial net loss of HK$53.41 million versus a...
SEM Holdings issues profit warning on HK$50 million interim loss
SEM Holdings Limited has warned investors that it expects to swing to a net loss of at least HK$50 million for the six months ended 30 June 2026, compared with a small net profit of around HK$0.2 million a year earlier. The board attributes this shar...
SEM Holdings Schedules Board Meeting on Interim Results and Dividend
SEM Holdings Limited has announced that its board will convene on 14 August 2026 to review and potentially approve the unaudited interim results for the six months ended 30 June 2026. The meeting will also consider whether to declare an interim divid...
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.
Date of analysis: Oct 16, 2026