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SEM Holdings Limited
(9929)
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Rating:48Neutral
Price Target:
HK$1.50
▲(150.00% Upside)
Action:Reiterated
Date:08/20/26
The score is held back primarily by weak and unstable operating performance and cash flow (loss-making periods and inconsistent cash conversion), only partly offset by a comparatively strong, low-debt balance sheet. Technicals are moderately supportive due to a longer-term uptrend, but valuation is challenged by negative earnings and no provided dividend yield.
Positive Factors
Conservative balance sheet
Low debt relative to equity and assets provides financial resilience and reduces refinancing pressure. This conservative structure can help the company withstand weaker operating periods, preserve strategic flexibility, and avoid having excessive interest obligations constrain future investment.
Negative Factors
Volatile revenue and losses
Unstable revenue and the shift from 2024 profit to substantial operating and net losses indicate weak earnings durability. This makes results difficult to forecast, limits internal funding capacity, and raises the risk that future growth will not translate consistently into shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low debt relative to equity and assets provides financial resilience and reduces refinancing pressure. This conservative structure can help the company withstand weaker operating periods, preserve strategic flexibility, and avoid having excessive interest obligations constrain future investment.
Read all positive factors
SEM Holdings Limited (9929) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$3.02B
Dividend YieldN/A
Average Volume (3M)5.48M
Price to Earnings (P/E)―
Beta (1Y)0.41
Revenue Growth33.88%
EPS Growth-735.09%
CountryHK
Employees147
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)-0.04
Shares Outstanding2,000,000,000
10 Day Avg. Volume3,122,000
30 Day Avg. Volume5,475,366
Financial Highlights & Ratios
PEG Ratio0.36
Price to Book (P/B)21.14
Price to Sales (P/S)37.49
P/FCF Ratio-76.80
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
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 i...
SEM Holdings Limited Financial Statement Overview
Summary
Income Statement
32
Negative
Balance Sheet
78
Positive
Cash Flow
28
Negative
| 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 | -65.16M | -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 | -40.75M | -2.16M | -1.63M | 14.79M | -5.67M | -64.74M |
| Operating Cash Flow | -40.01M | -1.41M | -1.44M | 15.10M | -5.18M | -41.42M |
| Investing Cash Flow | 32.23M | 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
Neutral
0.60
Price Trends
1.66
Negative
1.56
Negative
1.08
Positive
Market Momentum
-0.06
Positive
41.31
Neutral
6.93
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9929, the sentiment is Neutral. The current price of 0.6 is below the 20-day moving average (MA) of 1.83, below the 50-day MA of 1.66, and below the 200-day MA of 1.08, indicating a neutral trend. The MACD of -0.06 indicates Positive momentum. The RSI at 41.31 is Neutral, neither overbought nor oversold. The STOCH value of 6.93 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:9929.
SEM Holdings Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | HK$1.79B | 3.91 | 15.72% | 11.18% | -12.79% | -0.62% | |
71 Outperform | HK$1.13B | 24.28 | 4.18% | 17.39% | -18.58% | -27.75% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | HK$2.97B | 15.66 | 6.95% | 1.10% | -16.48% | 8.50% | |
52 Neutral | HK$1.76B | -113.04 | -0.53% | 7.69% | -15.27% | -103.20% | |
51 Neutral | HK$1.60B | 17.58 | 0.59% | 3.36% | 8.21% | -57.24% | |
48 Neutral | HK$3.02B | -41.62 | -42.47% | ― | 33.88% | -735.09% |
* Industrials Sector Average
HK:9929
SEM Holdings Limited
1.57
1.49
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SEM Holdings Limited Corporate Events
SEM Holdings Sets EGM to Approve New Share Scheme and Corporate Rebranding
Aug 27, 2026
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 capit...
SEM Holdings Plans Rebrand to Yaopop Holdings in Strategic Name Change
Aug 18, 2026
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 r...
SEM Holdings Swings to Interim Loss Despite Revenue Growth
Aug 14, 2026
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 versu...
SEM Holdings issues profit warning on HK$50 million interim loss
Aug 7, 2026
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 s...
SEM Holdings Schedules Board Meeting on Interim Results and Dividend
Aug 4, 2026
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 di...
SEM Holdings secures RMB200 million interest-free connected-party loan
Jul 1, 2026
SEM Holdings Limited has entered into a loan agreement with Hainan Hongyan Information Technology Co., Ltd., under which the lender will provide an unsecured, interest-free term loan of up to RMB200 million for six months starting 1 July 2026, ren...
SEM Holdings Shareholders Unanimously Approve All AGM Resolutions
Jun 12, 2026
SEM Holdings Limited reported that all ordinary resolutions proposed at its 12 June 2026 annual general meeting were approved by shareholders via poll, with Tricor Investor Services acting as scrutineer and no voting restrictions or required abste...
SEM Holdings plans China push and moves into IP to diversify revenue
Jun 12, 2026
SEM Holdings Limited is reinforcing its commitment to its core electrical and mechanical engineering businesses in Macau and Hong Kong, while looking to expand into other regions to mitigate challenging local market conditions. The group is assess...
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.