Poly Property Group Co Ltd (HK:0119)
:0119
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Poly Property Group Co
(0119)
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Rating:50Neutral
Price Target:
HK$2.50
▲(23.15% Upside)
Action:Reiterated
Date:05/08/26
The score is held back primarily by weak financial quality (thin margins, low ROE, and high leverage), with valuation also a major drag due to the very high P/E and modest yield. Technicals are a positive offset, with price above key moving averages and supportive momentum.
Positive Factors
Improving cash generation
Consistent positive operating cash flow across 2023–2025 and strong free cash flow in 2024–2025 provide a durable source of liquidity to fund project deliveries, service debt and support working capital. This cash cushion reduces refinancing pressure and can finance near-term projects without relying solely on external credit, improving resilience through cyclical periods.
Negative Factors
Elevated leverage
A debt-to-equity ratio near 1.93x leaves limited balance-sheet flexibility for a cyclical developer. High leverage raises refinancing and interest-rate sensitivity, reduces capacity to fund new land or projects organically, and magnifies downside risk if cash flows weaken, constraining long-term strategic options.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving cash generation
Consistent positive operating cash flow across 2023–2025 and strong free cash flow in 2024–2025 provide a durable source of liquidity to fund project deliveries, service debt and support working capital. This cash cushion reduces refinancing pressure and can finance near-term projects without relying solely on external credit, improving resilience through cyclical periods.
Read all positive factors
Poly Property Group Co (0119) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$8.41B
Dividend Yield0.98%
Average Volume (3M)43.24M
Price to Earnings (P/E)100.0
Beta (1Y)1.32
Revenue Growth20.60%
EPS Growth22.39%
CountryHK
Employees6,332
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)0.07
Shares Outstanding3,821,183,000
10 Day Avg. Volume88,816,917
30 Day Avg. Volume43,244,075
Financial Highlights & Ratios
PEG Ratio1.23
Price to Book (P/B)0.20
Price to Sales (P/S)0.15
P/FCF Ratio1.60
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$3.15Price Target Upside55.17% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.06
Revenue Forecast (FY)HK$41.86B
Poly Property Group Co Business Overview & Revenue Model
Company Description
Poly Property Group Co., Limited, an investment holding company, engages in the property development, investment, and management business in Hong Kong. The company operates through four segments: Property Development, Property Investment and Manag...
How the Company Makes Money
Poly Property Group typically generates revenue through (1) property development sales: the sale of completed residential and mixed-use units, where revenue is recognized upon meeting relevant completion/delivery and control-transfer conditions un...
Poly Property Group Co Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
38
Negative
Cash Flow
55
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 52.47B | 42.78B | 45.03B | 47.83B | 36.48B |
| Gross Profit | 8.93B | 7.02B | 9.20B | 14.68B | 12.35B |
| EBITDA | 4.19B | 3.91B | 5.86B | 8.92B | 9.97B |
| Net Income | 244.26M | 194.58M | 1.44B | 949.08M | 2.06B |
Balance Sheet | |||||
| Total Assets | 202.49B | 211.43B | 227.12B | 259.72B | 193.27B |
| Cash, Cash Equivalents and Short-Term Investments | 34.71B | 36.72B | 34.80B | 40.43B | 29.75B |
| Total Debt | 72.47B | 74.98B | 74.11B | 94.04B | 69.66B |
| Total Liabilities | 149.32B | 161.90B | 176.74B | 206.29B | 155.12B |
| Stockholders Equity | 37.56B | 36.40B | 37.63B | 42.11B | 31.50B |
Cash Flow | |||||
| Free Cash Flow | 4.77B | 8.12B | 5.34B | -17.64B | -5.47B |
| Operating Cash Flow | 4.80B | 8.14B | 6.72B | -17.03B | -5.41B |
| Investing Cash Flow | -1.92B | -553.34M | 642.82M | 2.50B | 5.02B |
| Financing Cash Flow | -6.45B | -3.60B | -7.33B | 13.46B | -7.67B |
Poly Property Group Co Technical Analysis
Positive
2.03
Price Trends
1.99
Positive
2.05
Positive
1.91
Positive
Market Momentum
0.09
Positive
55.88
Neutral
27.59
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0119, the sentiment is Positive. The current price of 2.03 is below the 20-day moving average (MA) of 2.12, above the 50-day MA of 1.99, and above the 200-day MA of 1.91, indicating a bullish trend. The MACD of 0.09 indicates Positive momentum. The RSI at 55.88 is Neutral, neither overbought nor oversold. The STOCH value of 27.59 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0119.
Poly Property Group Co Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
63 Neutral | HK$6.01B | 3.81 | 7.40% | 2.21% | 248.51% | ― | |
53 Neutral | HK$7.21B | -1.61 | -8.73% | 10.98% | 153.96% | -139.55% | |
50 Neutral | HK$8.41B | 100.00 | 0.66% | 0.98% | 20.60% | 22.39% | |
49 Neutral | HK$6.53B | 42.92 | 0.75% | 5.51% | -19.84% | 1.94% | |
46 Neutral | HK$7.13B | -1.68 | 0.73% | 3.32% | -72.38% | -358.63% | |
44 Neutral | HK$7.33B | -1.86 | -33.25% | ― | -72.09% | 24.14% |
* Real Estate Sector Average
HK:0119
Poly Property Group Co
2.18
0.74
51.49%
HK:0173
K Wah International Holdings
2.23
0.51
29.88%
HK:0034
Kowloon Development Co
4.95
2.15
76.60%
HK:3380
Logan Property Holdings Co
1.28
0.43
50.59%
HK:0604
Shenzhen Investment
0.79
0.04
5.33%
HK:0028
Tian An China Investments Co
4.00
-0.14
-3.33%
Poly Property Group Co Corporate Events
Poly Property Group Posts RMB15.4 Billion in Contracted Sales for First Four Months of 2026
May 8, 2026
Poly Property Group reported that its group, including joint ventures and associates, generated contracted sales of about RMB4.2 billion in April 2026, representing approximately 148,000 square metres sold at an average price of RMB28,418 per squa...
Poly Property Subsidiary Reports Sharp Profit Drop on Stable Balance Sheet
Apr 29, 2026
Poly Property Group’s subsidiary Shanghai Poly Property has disclosed unaudited key financial data for the three months ended 31 March 2026, as required by China’s debt market rules. The unit reported total assets of RMB167.26 billion,...
Poly Property Subsidiary Raises RMB1.5 Billion in 2026 Bond Issue
Apr 20, 2026
Poly Property Group’s wholly owned mainland subsidiary, Shanghai Poly Property, has issued the first tranche of its 2026 corporate bonds in China, raising RMB1.5 billion. The bonds carry a 3+2 year structure and an annual coupon of 2.53%, re...
Poly Property Group Posts RMB11.2 Billion in Unaudited Q1 2026 Contracted Sales
Apr 8, 2026
Poly Property Group Co. reported unaudited contracted sales of about RMB5.2 billion in March 2026, with approximately 175,000 square metres sold at an average price of RMB29,710 per square metre. The figures reflect the group’s ongoing activ...
Poly Property Group Lifts 2025 Earnings and Cash Flow as Leverage Metrics Enter Green Zone
Mar 31, 2026
Poly Property Group Co., Limited, a Hong Kong-based real estate developer with substantial residential and commercial projects in mainland China, continues to build out its land bank, reaching a total of 11.88 million square metres by the end of 2...
Poly Property Group Proposes Final 2025 Dividend of HKD 0.026 Per Share
Mar 31, 2026
Poly Property Group has proposed a final ordinary dividend of HKD 0.026 per share for the financial year ended 31 December 2025, subject to shareholder approval at the company’s annual meeting on 17 June 2026. The dividend will be paid in Ho...
Poly Property Clarifies Loan Treatment and Use of Presale Surplus Funds
Mar 12, 2026
Poly Property Group has issued a supplemental announcement clarifying why recent loans to a connected person at the subsidiary level do not require fresh shareholder approval under Hong Kong listing rules. The company explains that the new Loan 11...
Poly Property Expands China Merchants Financing as Major Transaction Under HK Rules
Mar 9, 2026
Poly Property Group has arranged new intra-group financing through two loan agreements signed on March 9, 2026, involving its 51%-owned subsidiaries SZ Baozhuo and SZ Baojie, and borrowers Huizhou Baozhi and SZ China Merchants. The loans, totaling...
Poly Property Group Sets March 2026 Board Meeting to Approve 2025 Results
Mar 9, 2026
Poly Property Group Co. has scheduled a board meeting for 31 March 2026 at its registered office to review and approve the annual results for the financial year ended 31 December 2025. The board will also consider the recommendation of a final div...
Poly Property Group Discloses RMB1.35 Billion Shareholder Loans at SZ Baoyu Unit
Mar 9, 2026
Poly Property Group Co., Limited, a Hong Kong-based property group, operates through multiple subsidiaries and joint ventures, including SZ Baoyu in which it holds a 51% indirect equity interest. The group structures financing between its controll...
Poly Property Posts RMB6 Billion in Early 2026 Contracted Sales
Mar 6, 2026
Poly Property Group reported unaudited contracted sales of about RMB2.2 billion in February 2026, corresponding to roughly 70,000 square meters sold at an average price of RMB31,775 per square meter. For the first two months of 2026, cumulative co...
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.