Keck Seng Investments (Hong Kong) Limited (HK:0184)
:0184
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Keck Seng Investments (Hong Kong)
(0184)
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Rating:68Neutral
Price Target:
HK$2.50
▲(19.62% Upside)
Action:ReiteratedDate:04/27/26
The score is driven primarily by solid post-2021 profitability and an improving leverage profile, offset by weak recent free-cash-flow generation (near breakeven in 2025). Valuation is a major positive (very low P/E and strong dividend yield), while technical indicators are largely neutral with some longer-term overhead from the 200-day trend.
Positive Factors
Stable profitability & healthy margins
Keck Seng returned to consistent profitability from 2022 and reported a ~16% net margin in 2025 with stable net income (HK$220–257M 2023–2025). Durable profit generation supports ongoing dividend capacity and underwriting of investments despite cyclical property markets.
Negative Factors
Volatile free cash flow
FCF plunged after 2023 and was essentially breakeven in 2025 despite accounting profits, implying higher capex or working-capital strain. Persistent cash volatility limits reinvestment, dividend reliability and reduces buffer against property-cycle shocks over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable profitability & healthy margins
Keck Seng returned to consistent profitability from 2022 and reported a ~16% net margin in 2025 with stable net income (HK$220–257M 2023–2025). Durable profit generation supports ongoing dividend capacity and underwriting of investments despite cyclical property markets.
Read all positive factors
Keck Seng Investments (Hong Kong) (0184) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$799.47M
Dividend Yield4.67%
Average Volume (3M)64.00K
Price to Earnings (P/E)2.8
Beta (1Y)0.42
Revenue Growth-4.47%
EPS Growth0.64%
CountryHK
Employees1,830
SectorConsumer Cyclical
Sector Strength84
IndustryTravel Lodging
Share Statistics
EPS (TTM)0.72
Shares Outstanding340,200,000
10 Day Avg. Volume83,552
30 Day Avg. Volume63,998
Financial Highlights & Ratios
PEG Ratio2.10
Price to Book (P/B)0.20
Price to Sales (P/S)0.45
P/FCF Ratio7.84K
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
Keck Seng Investments (Hong Kong) Business Overview & Revenue Model
Company Description
Keck Seng Investments (Hong Kong) Limited, an investment holding company, engages in the hotel and club operations, and property investment and development activities. It operates through three segments: Hotel, Property, and Investment and Corpora...
How the Company Makes Money
The company makes money mainly through returns generated from its investment and property portfolio. Key revenue streams typically include: (1) Rental and property-related income: recurring income from leasing investment properties (e.g., commerci...
Keck Seng Investments (Hong Kong) Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
78
Positive
Cash Flow
45
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.62B | 1.69B | 1.74B | 1.43B | 482.88M |
| Gross Profit | 686.78M | 829.83M | 720.10M | 1.30B | 438.85M |
| EBITDA | 280.02M | 358.62M | 549.70M | 315.32M | -55.33M |
| Net Income | 257.48M | 255.84M | 219.66M | 76.30M | -194.72M |
Balance Sheet | |||||
| Total Assets | 6.00B | 5.76B | 5.80B | 5.64B | 5.58B |
| Cash, Cash Equivalents and Short-Term Investments | 1.35B | 1.53B | 1.52B | 1.35B | 1.19B |
| Total Debt | 1.18B | 1.32B | 1.49B | 1.55B | 1.60B |
| Total Liabilities | 1.96B | 1.90B | 2.06B | 2.08B | 2.04B |
| Stockholders Equity | 3.54B | 3.31B | 3.12B | 2.94B | 2.91B |
Cash Flow | |||||
| Free Cash Flow | 92.00K | 136.96M | 298.43M | 290.14M | -48.33M |
| Operating Cash Flow | 317.51M | 280.15M | 345.51M | 311.79M | -27.33M |
| Investing Cash Flow | 265.03M | -123.06M | -103.50M | -50.03M | 528.32M |
| Financing Cash Flow | -259.53M | -455.97M | -212.06M | -165.71M | -57.75M |
Keck Seng Investments (Hong Kong) Technical Analysis
Negative
2.09
Price Trends
2.29
Negative
2.24
Negative
2.35
Negative
Market Momentum
-0.01
Positive
42.38
Neutral
47.62
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0184, the sentiment is Negative. The current price of 2.09 is below the 20-day moving average (MA) of 2.26, below the 50-day MA of 2.29, and below the 200-day MA of 2.35, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 42.38 is Neutral, neither overbought nor oversold. The STOCH value of 47.62 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0184.
Keck Seng Investments (Hong Kong) Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | HK$799.47M | 2.80 | 5.42% | 4.67% | -4.47% | 0.64% | |
66 Neutral | HK$2.02B | 31.69 | 0.50% | 3.37% | 0.33% | -77.16% | |
66 Neutral | HK$2.02B | 8.75 | 2.64% | 1.95% | -2.47% | 38.92% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | HK$608.40M | 77.47 | 0.19% | ― | 6.25% | ― | |
41 Neutral | HK$968.52M | -0.41 | -20.38% | ― | 798.63% | 56.55% | |
40 Neutral | HK$494.33M | -0.24 | -29.62% | ― | 51.08% | 51.50% |
* Consumer Cyclical Sector Average
HK:0184
Keck Seng Investments (Hong Kong)
2.35
0.25
11.90%
HK:1270
Langham Hospitality Investments
0.57
0.13
28.38%
HK:0201
Magnificent Hotel Investments Limited
0.07
>-0.01
-2.86%
HK:1221
Sino Hotels (Holdings) Ltd.
1.69
0.37
28.42%
HK:0078
Regal Hotels International Holdings Limited
0.55
-0.09
-14.06%
HK:0199
ITC Properties Group Limited
0.95
0.73
331.82%
Keck Seng Investments (Hong Kong) Corporate Events
Keck Seng Sets 2026 AGM to Approve Dividend, Board Mandates and Share Capital Flexibility
Apr 24, 2026
Keck Seng Investments (Hong Kong) has called its 2026 annual general meeting for 2 June 2026 in Central, where shareholders will review the audited financial statements for the year ended 31 December 2025 and vote on a proposed final dividend of H...
Keck Seng Investments Lifts Dividend as 2025 Profit Edges Higher
Mar 24, 2026
Keck Seng Investments (Hong Kong) reported consolidated profit attributable to equity shareholders of HK$257.5 million for 2025, a slight increase from HK$255.8 million a year earlier, with basic earnings per share edging up to HK$0.757. Revenue d...
Keck Seng Investments (Hong Kong) Declares Final Dividend for 2025
Mar 24, 2026
Keck Seng Investments (Hong Kong) Limited, a Hong Kong-listed investment company focused on property and related assets, continues to position itself as a steady dividend payer to its shareholders. The company relies on regular cash distributions ...
Keck Seng Sets March 2026 Board Meeting to Approve 2025 Results and Final Dividend
Mar 12, 2026
Keck Seng Investments (Hong Kong) Limited has scheduled a board meeting for 24 March 2026 to review and approve the company’s audited final results for the financial year ended 31 December 2025. The board will also consider the recommendatio...
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.