Beijing Enterprises Holdings (0392) AI Stock Analysis

• Market Cap: HK$41.61B
• Dividend Yield: 4.94%
• Average Volume (3M): 934.01K
• Price to Earnings (P/E): 7.1
• Beta (1Y): 0.56
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: HK
• Employees: 30,000
• Sector: Industrials
• Sector Strength: 72
• Industry: Conglomerates
• EPS (TTM): 3.00
• Shares Outstanding: 1,258,003,300
• 10 Day Avg. Volume: 1,110,216
• 30 Day Avg. Volume: 934,014
• PEG Ratio: -0.61
• Price to Book (P/B): 0.37
• Price to Sales (P/S): 0.37
• P/FCF Ratio: 56.00
• 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: Moderate Buy
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 66 Neutral
• Price Target: HK$36.00 ▲(8.83% Upside)

Beijing Enterprises Holdings has a solid valuation with a low P/E ratio and a high dividend yield, which are the most significant strengths. However, financial performance is hindered by cash flow issues and inconsistent profitability. Technical indicators suggest a neutral market sentiment, lacking strong momentum.

Positive Factors

Strong Balance Sheet

A strong balance sheet with a healthy debt-to-equity ratio indicates financial stability and the ability to leverage for growth opportunities.

Stable Revenue Streams

Long-term contracts with government entities provide stable and predictable revenue streams, enhancing financial stability and planning.

Infrastructure Investments

Continuous investments in infrastructure projects expand service capabilities and market reach, supporting long-term growth.

Negative Factors

Cash Flow Challenges

Challenges in cash generation can impact liquidity and limit the company's ability to invest in growth or weather economic downturns.

Fluctuating Profitability

Fluctuating profitability can create uncertainty in financial performance, affecting investor confidence and strategic planning.

Negative Free Cash Flow

Negative free cash flow suggests potential liquidity issues, which could constrain operational flexibility and investment capacity.

Beijing Enterprises Holdings Business Overview & Revenue Model

Company Description

Beijing Enterprises Holdings Limited, an investment holding company, engages in piped gas, brewery, water and environmental, solid waste treatment, and other businesses in Mainland China and Germany. Its Piped Gas Operation segment distributes and sells piped natural gas and gas-related equipment; provides natural gas transmission services, as well as repair and maintenance services; surveys and plots underground construction projects; and installs gas pipelines and related equipment. The company's Brewery Operation segment produces, distributes, and sells brewery products. Its Water and Environmental segment constructs sewage and water treatment plants and other infrastructural facilities; provides construction services for renovation projects; offers sewage treatment, and water treatment and distribution services, as well as consultancy services; and licenses technical know-how related to sewage treatment. The company's Solid Waste Treatment segment is involved in the construction and operation of waste incineration plants; waste treatment; sale of electricity; generation of heat and stream from waste incineration. Its Corporate and Others segment offers consultation and property investment services. The company also engages in the production and sale of beer; and issue of guaranteed bonds and notes. Beijing Enterprises Holdings Limited was founded in 1997 and is based in Wan Chai, Hong Kong. Beijing Enterprises Holdings Limited is a subsidiary of Beijing Enterprises Group (BVI) Company Limited.

How the Company Makes Money

Beijing Enterprises Holdings generates revenue primarily through its operations in the utility sector, focusing on water supply and waste management services. The company earns money by charging municipalities and consumers for water services, including both the supply of drinking water and the treatment of wastewater. Additionally, it generates income from waste management services, which include the collection, recycling, and disposal of waste materials. The company's energy segment contributes to its revenue through the generation and sale of electricity and heat. Significant partnerships with government entities and local authorities help secure long-term contracts, providing a stable revenue stream. Moreover, the company's ongoing investments in infrastructure projects and its role in public-private partnerships enhance its earnings potential by facilitating the expansion of its service capabilities and market reach.

Beijing Enterprises Holdings Financial Statement Overview

Summary

The company has a strong balance sheet with a healthy debt-to-equity ratio, but faces challenges in cash generation and fluctuating profitability. Negative free cash flow and inconsistent revenue growth are concerns for financial stability.

Income Statement

Beijing Enterprises Holdings shows a mixed performance in terms of profitability and growth. The gross profit margin has been relatively stable, but the net profit margin has fluctuated due to variability in net income. The revenue growth rate has been inconsistent, with a decline in the current year. EBIT and EBITDA margins indicate moderate operational efficiency, though they have decreased compared to previous years.

Balance Sheet

The balance sheet reflects a strong equity base with a healthy debt-to-equity ratio, indicating reasonable leverage. The return on equity has declined, suggesting a reduction in profitability from equity investments. The equity ratio is stable, which points to a balanced approach in asset financing.

Cash Flow

Cash flow analysis reveals challenges in cash generation, with operating cash flow turning to zero in the latest year. Free cash flow has been negative recently, highlighting potential liquidity issues. The ratios of operating and free cash flow to net income have decreased, signaling inefficiencies in converting income into cash.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	93.21B	91.14B	90.56B	92.30B	80.52B	68.41B
Gross Profit	12.68B	12.16B	10.35B	10.84B	11.08B	10.67B
EBITDA	7.12B	10.19B	9.67B	10.13B	12.38B	8.18B
Net Income	5.83B	5.55B	6.06B	7.38B	9.92B	5.29B
Balance Sheet
Total Assets	237.22B	223.19B	225.39B	221.07B	222.82B	204.80B
Cash, Cash Equivalents and Short-Term Investments	32.97B	32.94B	31.75B	31.52B	33.27B	29.40B
Total Debt	87.72B	84.60B	84.57B	78.24B	72.96B	69.37B
Total Liabilities	125.85B	119.32B	122.56B	118.03B	113.76B	107.38B
Stockholders Equity	96.46B	90.32B	89.11B	89.92B	95.98B	84.90B
Cash Flow
Free Cash Flow	3.48B	600.16M	-575.29M	-4.54B	48.19M	4.25B
Operating Cash Flow	8.16B	7.14B	9.18B	8.88B	11.55B	10.44B
Investing Cash Flow	-3.38B	-7.11B	-11.74B	-14.34B	-11.34B	-6.04B
Financing Cash Flow	-7.92B	465.89M	3.63B	2.36B	1.81B	1.03B

Beijing Enterprises Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 33.08
• 50DMA: Negative
• 100DMA: Negative
• 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:0392, the sentiment is Negative. The current price of 33.08 is below the 20-day moving average (MA) of 34.22, below the 50-day MA of 34.38, and above the 200-day MA of 31.89, indicating a neutral trend. The MACD of -0.49 indicates Positive momentum. The RSI at 39.50 is Neutral, neither overbought nor oversold. The STOCH value of 29.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0392.

Beijing Enterprises Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
0267	72 Outperform	$347.34B	5.61	7.65%	5.15%	2.45%	-0.36%
0363	71 Outperform	HK$16.05B	6.01	5.58%	6.37%	-7.44%	-18.48%
0392	66 Neutral	HK$41.61B	7.12	6.26%	4.94%	―	―
0001	64 Neutral	HK$208.74B	27.23	1.42%	4.02%	1.93%	-65.62%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
0019	63 Neutral	HK$82.53B	70.43	0.47%	5.26%	6.44%	-95.37%
0656	42 Neutral	HK$37.23B	-7.80	-3.65%	0.44%	-8.93%	-698.78%

Beijing Enterprises Holdings Corporate Events

Beijing Enterprises Holdings Acquires Inspection Firm to Boost Gas Pipeline Safety

Beijing Enterprises Holdings, through its subsidiary Beijing Gas, has announced the acquisition of the entire equity interest in Beijing Beiran Special Equipment Inspection and Testing Co., Ltd. from Beiran Enterprises. This acquisition, valued at RMB54.60 million, aims to enhance Beijing Gas’s pipeline safety management and operational efficiency, expand its industry footprint, and optimize resource allocation within the company.

Beijing Yanjing Brewery Reports Strong Q3 2025 Results and Announces Dividend Plan

Beijing Yanjing Brewery Co., Ltd., a subsidiary of Beijing Enterprises Holdings Limited, reported a 4.57% increase in revenue and a 35.86% rise in profit for the third quarter of 2025 compared to the previous year. The company also announced a proposed profit distribution plan, maintaining a cash dividend of RMB 1.00 per 10 shares, highlighting its strong financial performance and commitment to shareholder returns.

Beijing Enterprises Holdings Appoints New Non-Executive Directors

Beijing Enterprises Holdings Limited has announced the appointment of Mr. Yu Xijian and Mr. Su Junjie as Non-executive Directors, effective from September 30, 2025. This strategic move brings significant experience to the company’s board, with Mr. Yu’s background in investment management and Mr. Su’s extensive experience in asset management and finance. These appointments are expected to strengthen the company’s governance and strategic oversight, potentially enhancing its position in the market.

Beijing Enterprises Holdings Announces Board Composition and Roles

Beijing Enterprises Holdings Limited has announced the composition of its board of directors and the roles and functions of its members. The board comprises executive, non-executive, and independent non-executive directors, with specific members assigned to four key committees: Audit, Remuneration, Nomination, and Investment. This announcement provides clarity on the governance structure of the company, potentially impacting its strategic decision-making and operational oversight.

Beijing Enterprises Secures EUR500 Million Facility Agreement

Beijing Enterprises Holdings Limited, through its wholly-owned subsidiary Talent Yield European Limited, has entered into a facility agreement with a bank for a term of up to three years, securing a loan of up to EUR500 million. This agreement includes conditions related to the company’s controlling shareholder, Beijing Enterprises Group Company Limited, ensuring it maintains a significant shareholding and control, which underscores the company’s strategic alignment with the People’s Government of Beijing Municipality.