Keck Seng Investments (Hong Kong) (0184) AI Stock Analysis

• Market Cap: $768.85M
• Dividend Yield: 3.1%
• Average Volume (3M): 70.74K
• Price to Earnings (P/E): 3.0
• Beta (1Y): 0.28
• Revenue Growth: -2.67%
• EPS Growth: 16.46%
• Country: HK
• Employees: 1,830
• Sector: Consumer Cyclical
• Sector Strength: 61
• Industry: Travel Lodging
• EPS (TTM): 0.75
• Shares Outstanding: 340,200,000
• 10 Day Avg. Volume: 110,409
• 30 Day Avg. Volume: 70,736
• PEG Ratio: -0.04
• Price to Book (P/B): 0.27
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 2.70
• 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

• Rating: 64 Neutral
• Price Target: HK$2.50 ▲(10.62%Upside)

Keck Seng Investments is rated above average primarily due to its strong financial performance with good profitability and a stable balance sheet. The stock is attractively valued with a low P/E ratio and a solid dividend yield, offering income potential. However, mixed technical signals and concerns over cash flow management slightly temper the overall outlook.

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 Corporate. The Hotel segment offers hotel room accommodation services; and food and beverages at hotel restaurant outlets, as well as operates slot machines. The Property segment leases investment properties, which primarily consist of retail, commercial, and office properties; and develops, sells, and markets trading properties, as well as provides management services. The Investment and Corporate segment engages in non-trading and trading securities; financial instruments; and other treasury operations. It operates primarily in Macau, Vietnam, the People's Republic of China, Japan, Canada, the United States, and Hong Kong. The company was incorporated in 1973 and is based in Central, Hong Kong.

How the Company Makes Money

Keck Seng Investments (Hong Kong) Limited generates revenue through several key streams. Its primary income comes from property development and leasing, where it develops commercial and residential properties and leases them to tenants, generating steady rental income. Another significant revenue stream is its hotel management and ownership operations, where the company earns income from hotel room bookings, food and beverage sales, and other hospitality services. Keck Seng Investments also engages in strategic investments, which can yield returns through dividends and capital gains. The company's diversified portfolio and strategic partnerships in real estate and hospitality sectors are crucial in enhancing its revenue potential and market presence.

Keck Seng Investments (Hong Kong) Financial Statement Overview

Summary

Keck Seng Investments demonstrates strong profitability and a robust balance sheet, with improved margins and a conservative debt approach. However, cash flow management remains a challenge, which could hinder future growth.

Income Statement

Keck Seng Investments has shown a recovery in profitability with a noticeable increase in net profit margin from 12.63% in 2023 to 15.11% in 2024. The gross profit margin remained strong at 49.03% in 2024. Despite a decline in revenue in 2024 by 2.67%, the company improved its EBIT and EBITDA margins, indicating better operational efficiency.

Balance Sheet

The company's balance sheet is stable, with a debt-to-equity ratio of 0.40 in 2024, reflecting a conservative leverage approach. The equity ratio stands at 57.46%, indicating a strong equity foundation. Return on equity improved to 7.73% in 2024, showcasing better profitability.

Cash Flow

The free cash flow was unavailable for 2024, but the company had a negative trend in previous years. Operating cash flow was not reported for 2024, making it difficult to assess cash generation capabilities. However, past figures suggest a need for improvement in cash flow management.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.69B	1.74B	1.43B	482.88M	665.71M
Gross Profit	829.83M	861.44M	1.30B	438.85M	576.08M
EBITDA	358.62M	549.70M	315.32M	-55.33M	-534.57M
Net Income	255.84M	219.66M	124.20M	-184.20M	-545.96M
Balance Sheet
Total Assets	5.76B	5.80B	5.64B	5.58B	5.75B
Cash, Cash Equivalents and Short-Term Investments	1.53B	1.52B	1.35B	1.19B	1.28B
Total Debt	1.32B	1.49B	1.55B	1.60B	1.60B
Total Liabilities	1.90B	2.06B	2.08B	2.04B	2.02B
Stockholders Equity	3.31B	3.12B	2.94B	2.91B	3.10B
Cash Flow
Free Cash Flow	136.96M	298.43M	290.14M	-48.33M	-282.33M
Operating Cash Flow	295.03M	345.51M	311.79M	-27.33M	-208.04M
Investing Cash Flow	-123.06M	-103.50M	-50.03M	528.32M	148.81M
Financing Cash Flow	-455.97M	-212.06M	-165.71M	-57.75M	-386.47M

Keck Seng Investments (Hong Kong) Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 2.26
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0184, the sentiment is Neutral. The current price of 2.26 is below the 20-day moving average (MA) of 2.30, above the 50-day MA of 2.25, and above the 200-day MA of 2.16, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 47.08 is Neutral, neither overbought nor oversold. The STOCH value of 57.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:0184.

Keck Seng Investments (Hong Kong) Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
0184	64 Neutral	$768.85M	3.01	7.95%	3.10%	-2.67%	16.46%
Sector *	62 Neutral	C$5.24B	11.08	18.82%	3.79%	5.08%	6.52%
0253	52 Neutral	HK$149.89M	―	-4.03%	―	12.86%	-269.71%
0201	52 Neutral	HK$644.19M	―	-1.07%	―	16.36%	-35.14%
0219	46 Neutral	HK$322.32M	―	-4.04%	―	12.86%	-297.41%
0617	44 Neutral	HK$351.09M	―	-18.37%	―	-2.69%	-53.59%
RH6B		€63.19M	―	-36.48%	―	―	―

Keck Seng Investments (Hong Kong) Corporate Events

Keck Seng Investments Approves Key Resolutions at AGM

Keck Seng Investments (Hong Kong) Limited held its Annual General Meeting on June 2, 2025, where all proposed resolutions were approved by a significant majority. Key resolutions included the acceptance of the audited financial statements, the declaration of a final dividend, the re-election of directors, and the reappointment of KPMG as auditors. Additionally, mandates were granted to the directors for share buybacks and issuance of additional shares, reflecting strong shareholder support for the company’s strategic directions.

Keck Seng Investments Announces 2025 AGM and Key Resolutions

Keck Seng Investments (Hong Kong) Limited has announced its 2025 Annual General Meeting, which will be held on June 2, 2025, in Hong Kong. The agenda includes receiving the audited financial statements for the year ending December 31, 2024, declaring a final dividend of HK$0.07 per share, re-electing several directors, re-appointing KPMG as auditors, and authorizing the board to fix their remuneration. Additionally, resolutions will be considered to grant the directors mandates to buy back shares and to issue additional shares during a specified period.