Harbour Centre Development Limited (HK:0051)
:0051
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Harbour Centre Development Limited
(0051)
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Rating:54Neutral
Price Target:
HK$4.50
▲(4.41% Upside)
Action:Reiterated
Date:04/14/26
The score is driven primarily by strong balance-sheet safety and improved recent cash generation, offset by ongoing net losses and slightly declining/volatile revenue. Technical indicators are also weak (below key moving averages with negative MACD), while valuation is constrained by a negative P/E and only a modest dividend yield.
Positive Factors
Strong balance sheet / low leverage
Very low leverage and a large equity base provide durable financial flexibility. Harbour Centre can absorb property-cycle shocks, fund tenant works or opportunistic investments from internal capital, and withstand cash-flow variability without immediate reliance on new external financing.
Negative Factors
Persistent net losses
Recurring net losses, including a sharp deterioration in 2025, mean the company is not converting its asset base and operating margins into shareholder earnings. Persistent losses erode retained earnings, limit reinvestment capacity and create longer-term pressure on returns and stakeholder confidence.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong balance sheet / low leverage
Very low leverage and a large equity base provide durable financial flexibility. Harbour Centre can absorb property-cycle shocks, fund tenant works or opportunistic investments from internal capital, and withstand cash-flow variability without immediate reliance on new external financing.
Read all positive factors
Harbour Centre Development Limited (0051) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$3.40B
Dividend Yield1.16%
Average Volume (3M)11.31K
Price to Earnings (P/E)―
Beta (1Y)0.43
Revenue Growth-0.66%
EPS Growth-234.11%
CountryHK
Employees1,200
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)-0.33
Shares Outstanding708,750,000
10 Day Avg. Volume9,800
30 Day Avg. Volume11,310
Financial Highlights & Ratios
PEG Ratio-0.06
Price to Book (P/B)0.20
Price to Sales (P/S)2.26
P/FCF Ratio9.31
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
Harbour Centre Development Limited Business Overview & Revenue Model
Company Description
Harbour Centre Development Limited, an investment holding company, engages in the hotel ownership, and property investment and development activities in Hong Kong, Mainland China, and internationally. It engages in the acquisition, development, an...
How the Company Makes Money
Harbour Centre Development Limited primarily makes money from recurring rental and related income generated by leasing space in its investment properties (e.g., offices/retail and other lettable areas) under tenancy agreements, typically supported...
Harbour Centre Development Limited Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
82
Very Positive
Cash Flow
63
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.34B | 1.35B | 1.58B | 1.14B | 4.48B |
| Gross Profit | 584.00M | 790.00M | 354.00M | 489.00M | 1.10B |
| EBITDA | 339.00M | 618.00M | 129.00M | 116.00M | 737.00M |
| Net Income | -234.00M | -70.00M | -107.00M | -197.00M | -24.00M |
Balance Sheet | |||||
| Total Assets | 16.47B | 15.80B | 16.90B | 18.85B | 20.53B |
| Cash, Cash Equivalents and Short-Term Investments | 846.00M | 431.00M | 381.00M | 634.00M | 1.09B |
| Total Debt | 442.00M | 365.00M | 526.00M | 1.10B | 1.45B |
| Total Liabilities | 1.40B | 1.47B | 2.46B | 3.52B | 4.59B |
| Stockholders Equity | 14.98B | 14.22B | 14.33B | 15.13B | 15.62B |
Cash Flow | |||||
| Free Cash Flow | 326.00M | 212.00M | 253.00M | -153.00M | 1.10B |
| Operating Cash Flow | 344.00M | 224.00M | 278.00M | -147.00M | 1.13B |
| Investing Cash Flow | 32.00M | -12.00M | 44.00M | 175.00M | 243.00M |
| Financing Cash Flow | 33.00M | -154.00M | -567.00M | -394.00M | -1.61B |
Harbour Centre Development Limited Technical Analysis
Positive
4.31
Price Trends
4.59
Positive
4.60
Positive
4.47
Positive
Market Momentum
0.07
Negative
68.10
Neutral
100.00
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0051, the sentiment is Positive. The current price of 4.31 is below the 20-day moving average (MA) of 4.60, below the 50-day MA of 4.59, and below the 200-day MA of 4.47, indicating a bullish trend. The MACD of 0.07 indicates Negative momentum. The RSI at 68.10 is Neutral, neither overbought nor oversold. The STOCH value of 100.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0051.
Harbour Centre Development Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | HK$397.29B | 6.70 | 3.55% | 3.89% | 4.66% | 26.27% | |
69 Neutral | HK$43.19B | 12.18 | 2.21% | 2.89% | 30.00% | 2.61% | |
67 Neutral | HK$119.25B | 15.34 | 2.20% | 5.62% | 30.32% | -1.37% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
58 Neutral | HK$78.30B | -34.25 | 0.03% | 1.76% | -9.23% | ― | |
54 Neutral | HK$3.40B | -12.96 | -1.58% | 1.16% | -0.66% | -234.11% | |
49 Neutral | HK$6.53B | 233.15 | 0.75% | 5.51% | -19.84% | 1.94% |
* Real Estate Sector Average
HK:0051
Harbour Centre Development Limited
4.80
0.83
20.91%
HK:0034
Kowloon Development Co
5.00
2.20
78.38%
HK:0083
Sino Land Co
12.44
4.73
61.43%
HK:0016
Sun Hung Kai Properties
137.10
57.67
72.61%
HK:0004
Wharf (Holdings)
25.62
5.73
28.83%
HK:0247
Tsim Sha Tsui Properties Limited
19.35
0.69
3.69%
Harbour Centre Development Limited Corporate Events
Harbour Centre Calls AGM to Seek Mandates on Fees, Share Buy-backs and Issuance
Apr 8, 2026
Harbour Centre Development Limited has convened its annual general meeting for 7 May 2026 in Hong Kong, where shareholders will be asked to adopt the 2025 financial statements, re-elect retiring directors, and re-appoint the company’s audito...
Harbour Centre Sets Final Deadline for Unclaimed 2019 Dividend
Mar 27, 2026
Harbour Centre Development Limited has announced that any portion of its 2019 second interim dividend of HK$0.15 per share that remains unclaimed by 27 April 2026 will be forfeited and revert back to the company under its Articles of Association. ...
Harbour Centre Development Shifts Share Registrar to Tricor Investor Services
Mar 25, 2026
Harbour Centre Development Limited has announced a change of its share registrar and transfer office, appointing Tricor Investor Services Limited in Hong Kong with effect from 27 March 2026. Share transfer registrations and collection of uncollect...
Harbour Centre Development Announces Retirement of Long-Serving Independent Director
Mar 12, 2026
Harbour Centre Development Limited announced that Independent Non-executive Director Brian See King Tang will retire by rotation at the annual general meeting on 7 May 2026 and will not seek re-election. His departure will also see him step down f...
Harbour Centre Swings to Deeper Loss as China Property Weakness Offsets Hong Kong Hotel Rebound
Mar 5, 2026
Harbour Centre Development Limited reported a group loss attributable to equity shareholders of HK$234 million for 2025, deepening from HK$70 million a year earlier, with an underlying net loss of HK$22 million versus a prior profit, and the board...
Harbour Centre Development Sets Board Meeting to Approve 2025 Results and Consider Dividend
Feb 23, 2026
Harbour Centre Development Limited has scheduled a board meeting for 5 March 2026 to approve the release of its audited final results for the financial year ended 31 December 2025. The board will also consider the declaration of a dividend, a deci...
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.