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Horizon Construction Development Limited
(9930)
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Rating:49Neutral
Price Target:
HK$0.81
▼(-25.37% Downside)
Action:Reiterated
Date:08/11/26
Overall score reflects mixed fundamentals led by a sharp 2025 slowdown in revenue and profitability and elevated leverage, combined with a bearish longer-term technical trend (price below key moving averages and negative MACD). A moderate P/E and a ~2.29% dividend yield provide partial valuation support but do not fully offset the operational and trend-related risks.
Positive Factors
Healthy Gross Margin
A gross margin of about 26% indicates the core rental and leasing activities retain meaningful economic spread, providing a cushion against softer demand and supporting potential profitability recovery if revenue stabilizes.
Negative Factors
Sharp Revenue and Profitability Contraction
The simultaneous revenue decline and steep margin compression weaken earnings power and reduce the funds available for reinvestment, debt service, and shareholder returns, making a durable recovery dependent on improved operating conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Healthy Gross Margin
A gross margin of about 26% indicates the core rental and leasing activities retain meaningful economic spread, providing a cushion against softer demand and supporting potential profitability recovery if revenue stabilizes.
Read all positive factors
Horizon Construction Development Limited (9930) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$2.33B
Dividend Yield2.13%
Average Volume (3M)285.76K
Price to Earnings (P/E)13.5
Beta (1Y)0.75
Revenue Growth-15.72%
EPS Growth-76.99%
CountryHK
Employees4,253
SectorIndustrials
Sector Strength72
IndustryRental & Leasing Services
Share Statistics
EPS (TTM)0.05
Shares Outstanding3,197,244,000
10 Day Avg. Volume467,299
30 Day Avg. Volume285,762
Financial Highlights & Ratios
PEG Ratio-0.25
Price to Book (P/B)0.27
Price to Sales (P/S)0.33
P/FCF Ratio1.49
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$0.85Price Target Upside-21.30% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.06
Revenue Forecast (FY)HK$9.10B
Horizon Construction Development Limited Business Overview & Revenue Model
Company Description
Horizon Construction Development Limited functions as an investment holding enterprise, delivering equipment operation solutions throughout the People's Republic of China. The company's offerings include rental services for a diverse range of mach...
How the Company Makes Money
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Horizon Construction Development Limited Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
44
Neutral
Cash Flow
52
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.89B | 9.12B | 11.58B | 9.61B | 7.88B | 6.14B |
| Gross Profit | 2.61B | 2.40B | 3.77B | 3.76B | 3.13B | 2.85B |
| EBITDA | 3.88B | 4.02B | 4.65B | 4.50B | 4.09B | 3.21B |
| Net Income | 145.72M | 143.17M | 896.32M | 962.41M | 664.34M | 709.64M |
Balance Sheet | ||||||
| Total Assets | 35.80B | 36.38B | 36.43B | 31.24B | 30.29B | 26.96B |
| Cash, Cash Equivalents and Short-Term Investments | 2.37B | 2.67B | 1.78B | 2.17B | 2.16B | 657.04M |
| Total Debt | 20.55B | 20.95B | 21.57B | 18.07B | 21.44B | 18.03B |
| Total Liabilities | 24.74B | 25.05B | 24.98B | 20.46B | 23.62B | 20.95B |
| Stockholders Equity | 11.06B | 11.33B | 11.46B | 10.78B | 6.67B | 6.01B |
Cash Flow | ||||||
| Free Cash Flow | 1.51B | 2.02B | -3.32B | 1.52B | -1.01B | -8.30B |
| Operating Cash Flow | 3.63B | 4.24B | 4.20B | 3.95B | 2.82B | 2.45B |
| Investing Cash Flow | -1.88B | -2.12B | -6.76B | -1.83B | -3.46B | -10.47B |
| Financing Cash Flow | -1.66B | -1.26B | 2.14B | -2.11B | 2.29B | 8.37B |
Horizon Construction Development 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% | |
50 Neutral | HK$328.60M | 64.58 | 12.53% | ― | -3.26% | ― | |
49 Neutral | HK$2.33B | 13.47 | 1.30% | 2.13% | -15.72% | -76.99% | |
37 Underperform | HK$177.53M | >-0.01 | -15.06% | ― | -42.20% | 66.04% |
* Industrials Sector Average
HK:9930
Horizon Construction Development Limited
0.74
-0.49
-39.98%
HK:0936
Kaisa Capital Investment Holdings Limited
0.31
0.19
154.17%
HK:1341
Hao Tian International Construction Investment Group Limited
0.02
-0.28
-94.58%
Horizon Construction Development Limited Corporate Events
Horizon Construction Grants CEO Performance-Linked Restricted Shares in Connected Transaction
Aug 10, 2026
Horizon Construction Development Limited has granted 5.59 million restricted shares, representing about 0.17% of its issued share capital, to its executive director and chief executive officer, Zhan Jing, under its restricted share award scheme. T...
Horizon Construction Grants Performance-Linked Share Options to Staff
Aug 10, 2026
Horizon Construction Development Limited has approved the grant of up to 9,350,000 share options, representing about 0.29% of its issued share capital, to selected participants under its share option scheme adopted in June 2024. The options, price...
Horizon Construction Development Sets Formal Mandate for Nomination Committee
Aug 4, 2026
Horizon Construction Development Limited has formalized the terms of reference for its board-level Nomination Committee to strengthen corporate governance and align with Hong Kong Listing Rules. The committee is mandated to report to and be accoun...
Horizon Construction Development Formalizes Remuneration Committee Mandate
Aug 4, 2026
Horizon Construction Development Limited has formalized the terms of reference for its board Remuneration Committee to align with Hong Kong listing rules and strengthen its corporate governance framework. The committee, composed mainly of independ...
Horizon Construction Development Publishes Unaudited Interim Results for First Half of 2026
Aug 4, 2026
Horizon Construction Development Limited has released its unaudited interim results for the six months ended 30 June 2026, providing comparative figures for the same period in 2025. The announcement is presented as the full interim report, prepare...
Horizon Construction Schedules August Board Meeting to Review Interim Results
Jun 24, 2026
Horizon Construction Development Limited has scheduled a board meeting for 4 August 2026 to review and approve the group’s interim results for the six months ended 30 June 2026. The board will also consider the declaration of an interim divi...
Horizon Construction Development Wins Strong Shareholder Backing at 2026 AGM
Jun 9, 2026
Horizon Construction Development Limited reported that all resolutions at its 9 June 2026 annual general meeting were approved by poll with overwhelming majorities, including adoption of the 2025 audited accounts, approval of a final dividend, ren...
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.