Poly Property Group Co (0119) AI Stock Analysis

• Market Cap: HK$8.52B
• Dividend Yield: 0.98%
• Average Volume (3M): 43.24M
• Price to Earnings (P/E): 506.8
• Beta (1Y): 1.31
• Revenue Growth: 22.28%
• EPS Growth: -98.68%
• Country: HK
• Employees: 6,332
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Development
• EPS (TTM): 0.06
• Shares Outstanding: 3,821,183,000
• 10 Day Avg. Volume: 88,816,917
• 30 Day Avg. Volume: 43,244,075
• PEG Ratio: -0.34
• Price to Book (P/B): 0.16
• Price to Sales (P/S): 0.14
• P/FCF Ratio: 0.73
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 45 Neutral
• Price Target: HK$2.50 ▲(23.15% Upside)

The score is held down primarily by weak financial performance (shrinking revenue, steep margin compression, high leverage, and negative operating cash flow/no free cash flow). Technicals provide partial support with the price above key moving averages and a positive MACD, but overbought RSI/Stoch readings add risk. Valuation is a significant negative due to the very high P/E and low dividend yield.

Positive Factors

Diversified business model

Poly Property’s integrated development and property-management model spans planning, construction, sales, leasing and management, creating multiple revenue streams. This vertical scope cushions revenue volatility, supports cross-selling and recurring income over the medium term.

Strategic local partnerships

Established partnerships and joint-venture access to land and project financing provide structural advantages in China’s land-constrained market. These relationships improve project pipeline visibility and lower acquisition friction, aiding stable development activity over months.

Equity cushion in asset base

An equity ratio around 16.6% gives a tangible capital buffer against asset write-downs and supports creditor confidence. While not conservative, this equity base helps absorb shocks and maintain access to capital markets relative to firms with negligible equity.

Negative Factors

High leverage

A debt-to-equity ratio above 2x creates heightened refinancing and interest-rate risk. Heavy leverage limits financial flexibility, elevates fixed-cost burdens and magnifies downside in a cyclical property market, increasing the probability of distressed financing needs within months.

Weak cash generation

Negative operating cash flow and no free cash flow undermine the company’s ability to fund development, service debt and invest organically. Persistent cash deficits force reliance on external financing or asset disposals, reducing strategic optionality and increasing solvency risk.

Declining profitability and revenue

Sharp margin compression and year-over-year revenue decline indicate weakening pricing power or rising costs. Reduced profitability curtails internal cash generation and return on capital, hampering reinvestment capacity and making recovery dependent on structural corrective actions.

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 Management, Hotel Operations, and Other Operations. It is involved in the development of residential and commercial properties; investment and management of properties; and hotel and restaurant operations, as well as provision of related services. The company also provides management, asset management, and construction services. In addition, it manufactures and sells compact discs, video compact discs, and digital video discs. The company was formerly known as Poly (Hong Kong) Investments Limited. Poly Property Group Co., Limited was incorporated in 1973 and is headquartered in Hong Kong, Hong Kong.

How the Company Makes Money

Poly Property Group generates revenue primarily through the sale of residential and commercial properties. The company earns income from property development projects, where it sells units and leases commercial spaces. Additionally, revenue streams include property management services and leasing activities. Significant partnerships with local governments and other enterprises facilitate land acquisitions, project financing, and joint ventures, enhancing the company's growth opportunities and contributing to its earnings.

Poly Property Group Co Financial Statement Overview

Summary

Weak fundamentals overall: revenue fell 5.6% in 2023, margins compressed sharply (gross margin down to 16.4%, net margin to 0.5%), leverage is high (debt-to-equity 2.05), and cash flow is a major concern with negative operating cash flow and no free cash flow in 2023.

Income Statement

Poly Property Group's income statement shows declining revenue and profit margins in recent years. The gross profit margin decreased from 26.9% in 2022 to 16.4% in 2023, indicating reduced profitability. Similarly, net profit margin declined to 0.5% in 2023, suggesting challenges in maintaining bottom-line profitability. Revenue shrank by 5.6% in 2023 compared to 2022, highlighting a negative growth trend, which is concerning for the company's revenue-generating potential.

Balance Sheet

The balance sheet shows a relatively high debt-to-equity ratio of 2.05 in 2023, reflecting significant leverage, which poses a risk in terms of financial stability. However, the company's equity ratio of 16.6% indicates a fair amount of equity in the asset structure. The return on equity (ROE) declined to 0.5% in 2023, showing inefficiency in generating returns from equity.

Cash Flow

The cash flow statement reveals significant challenges, with operating cash flow turning negative in recent years, indicating difficulties in generating cash from operations. The absence of free cash flow in 2023 underscores the company's struggles in maintaining liquidity and financial flexibility. These trends highlight potential risks in cash management and sustainability of operations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	49.74B	42.78B	45.03B	47.83B	36.48B	31.28B
Gross Profit	8.66B	7.02B	9.20B	14.68B	12.35B	10.55B
EBITDA	4.96B	3.91B	5.86B	8.92B	9.97B	8.69B
Net Income	25.22M	194.58M	1.44B	949.08M	2.06B	1.58B
Balance Sheet
Total Assets	212.03B	211.43B	227.12B	259.72B	193.27B	205.53B
Cash, Cash Equivalents and Short-Term Investments	31.02B	36.72B	34.80B	40.43B	29.75B	43.65B
Total Debt	74.74B	74.98B	74.11B	94.04B	69.66B	88.95B
Total Liabilities	160.99B	161.90B	176.74B	206.29B	155.12B	166.33B
Stockholders Equity	37.46B	36.40B	37.63B	42.11B	31.50B	35.44B
Cash Flow
Free Cash Flow	4.83B	8.12B	5.34B	-17.64B	-5.47B	-5.29B
Operating Cash Flow	2.76B	8.14B	6.72B	-17.03B	-5.41B	-5.24B
Investing Cash Flow	-672.26M	-553.34M	642.82M	2.50B	5.02B	2.55B
Financing Cash Flow	-7.87B	-3.60B	-7.33B	13.46B	-7.67B	16.85B

Poly Property Group Co Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.03
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: 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 2.11, above the 50-day MA of 2.00, and above the 200-day MA of 1.71, indicating a bullish trend. The MACD of 0.09 indicates Negative momentum. The RSI at 63.24 is Neutral, neither overbought nor oversold. The STOCH value of 60.93 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
0081	61 Neutral	HK$8.54B	22.47	1.10%	0.50%	-24.86%	-76.06%
0272	52 Neutral	HK$5.45B	31.78	0.42%	13.43%	41.24%	-39.89%
0604	51 Neutral	HK$7.56B	-2.29	-8.73%	10.98%	62.19%	-168.07%
0173	46 Neutral	$8.13B	27.56	0.73%	3.32%	66.68%	-38.14%
0119	45 Neutral	HK$8.52B	506.82	0.04%	0.98%	22.28%	-98.68%
0588	45 Neutral	HK$5.77B	-0.64	-41.74%	―	-44.25%	-406.20%

Poly Property Group Co Corporate Events

Poly Property Subsidiary Issues RMB500 Million Second Tranche of 2026 Medium-Term Notes

Poly Property Group Co., Limited announced that its wholly owned mainland subsidiary, Shanghai Poly Property, has successfully issued the second tranche of its 2026 medium-term notes in the onshore Chinese bond market. The tranche amounts to RMB500 million, carries a three-year term and an annual coupon rate of 2.95%, with the proceeds earmarked to replenish internal funds previously used to repay other debt financing instruments, reflecting the group’s ongoing efforts to manage liquidity and refinance existing obligations amid current credit conditions.

The most recent analyst rating on (HK:0119) stock is a Hold with a HK$2.00 price target. To see the full list of analyst forecasts on Poly Property Group Co stock, see the HK:0119 Stock Forecast page.

Poly Property Subsidiary Raises RMB1 Billion via 2026 Medium-Term Notes

Poly Property Group’s wholly owned mainland subsidiary, Shanghai Poly Property, has issued the first tranche of its 2026 medium-term notes, raising RMB1 billion in three-year paper at an annual coupon of 2.69%. The proceeds will be used to replenish internal funds previously deployed to repay debt financing instruments, a move that effectively refinances existing obligations and helps the group manage liquidity and funding costs, with the notes listed and information disclosed on major onshore financial market platforms in China.

The most recent analyst rating on (HK:0119) stock is a Hold with a HK$2.00 price target. To see the full list of analyst forecasts on Poly Property Group Co stock, see the HK:0119 Stock Forecast page.

Poly Property Group Books RMB50.2 Billion in Contracted Sales for 2025

Poly Property Group reported unaudited contracted sales of approximately RMB2.5 billion in December 2025, with about 71,000 square metres sold at an average price of roughly RMB35,603 per square metre. For the full year to the end of December 2025, the group recorded total contracted sales of about RMB50.2 billion on 1,624,000 square metres of contracted area, reflecting sustained transaction volume and pricing, though management cautioned that these preliminary figures may differ from those in forthcoming audited financial statements and should be treated as indicative reference data by investors.

The most recent analyst rating on (HK:0119) stock is a Hold with a HK$2.00 price target. To see the full list of analyst forecasts on Poly Property Group Co stock, see the HK:0119 Stock Forecast page.

Poly Property Group Reports Strong November Sales Performance

Poly Property Group Co., Limited announced its unaudited sales data for November 2025, reporting a contracted sales value of approximately RMB3.9 billion, with a contracted area of 109 thousand sq. m. and an average selling price of RMB35,540 per sq. m. Cumulatively, by the end of November 2025, the company achieved a contracted sales value of RMB47.7 billion over 1,552 thousand sq. m. at an average price of RMB30,704 per sq. m. This data, based on preliminary internal records, highlights the company’s strong sales performance, though investors are advised to exercise caution as these figures may differ from future audited reports.

The most recent analyst rating on (HK:0119) stock is a Hold with a HK$2.00 price target. To see the full list of analyst forecasts on Poly Property Group Co stock, see the HK:0119 Stock Forecast page.

Poly Property Group Appoints New Non-Executive Director

Poly Property Group Co., Limited has announced the appointment of Mr. Geng Yuehua as a Non-executive Director, effective from November 10, 2025. This appointment also includes his membership in the Audit and Nomination Committees, potentially strengthening the company’s governance and strategic oversight. Mr. Geng brings extensive experience from his previous roles in finance and management within the Poly Group, which may enhance the company’s operational and strategic capabilities.

The most recent analyst rating on (HK:0119) stock is a Hold with a HK$2.00 price target. To see the full list of analyst forecasts on Poly Property Group Co stock, see the HK:0119 Stock Forecast page.

Poly Property Group Updates Board of Directors and Committee Roles

Poly Property Group Co., Limited has announced an updated list of its board of directors and their roles, effective 10 November 2025. This restructuring includes a mix of executive, non-executive, and independent non-executive directors, with specific assignments to four key committees: Audit, Remuneration, Nomination, and Environmental, Social and Governance. This organizational update is likely to impact the company’s governance and strategic direction, potentially influencing its market positioning and stakeholder relationships.

The most recent analyst rating on (HK:0119) stock is a Hold with a HK$2.00 price target. To see the full list of analyst forecasts on Poly Property Group Co stock, see the HK:0119 Stock Forecast page.

Poly Property Group Announces Auditor Change

Poly Property Group Co., Limited has announced a change in its auditor, with Baker Tilly Hong Kong Limited resigning due to an inability to agree on the audit fee for the 2025 financial year. The company has appointed BDO Limited as the new auditor, effective 7 November 2025, following a recommendation from the Audit Committee. The change is not expected to impact the audit for the 2025 financial year, and the Board has expressed gratitude to Baker Tilly for its past services.

The most recent analyst rating on (HK:0119) stock is a Hold with a HK$2.00 price target. To see the full list of analyst forecasts on Poly Property Group Co stock, see the HK:0119 Stock Forecast page.

Poly Property Group Reports October 2025 Sales Data

Poly Property Group Co., Limited announced its unaudited sales data for October 2025, reporting a contracted sales value of approximately RMB4.3 billion and a contracted area of 148 thousand sq. m. The average selling price was RMB29,269 per sq. m. For the year up to October, the Group achieved a total contracted sales value of RMB43.8 billion. These figures are based on preliminary internal records and may differ from future audited reports, so investors are advised to exercise caution.

The most recent analyst rating on (HK:0119) stock is a Hold with a HK$2.00 price target. To see the full list of analyst forecasts on Poly Property Group Co stock, see the HK:0119 Stock Forecast page.