Beijing Enterprises Holdings Limited (HK:0392)
:0392
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Beijing Enterprises Holdings
(0392)
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Rating:60Neutral
Price Target:
HK$33.00
â–˛(2.42% Upside)
Action:Reiterated
Date:05/02/26
The score is anchored by attractive valuation (low P/E and high dividend yield), but is held back by weakening financial quality—especially volatile/weak free cash flow and margin compression—and bearish technical signals with the stock trading below key moving averages.
Positive Factors
Stable Operating Cash Flow
Consistently positive operating cash flow shows the core utility operations generate real cash from day-to-day activities. For a regulated/concession-driven business this underpins the firm's ability to fund maintenance capex, service interest, and support dividends or project financing over the medium term despite profit volatility.
Negative Factors
Volatile Free Cash Flow
Free cash flow volatility indicates earnings do not reliably convert to residual cash after reinvestment. For a capital-intensive utility business this constrains organic growth, pressures dividend and debt servicing capacity in weaker years, and raises the need for external financing or asset sales.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable Operating Cash Flow
Consistently positive operating cash flow shows the core utility operations generate real cash from day-to-day activities. For a regulated/concession-driven business this underpins the firm's ability to fund maintenance capex, service interest, and support dividends or project financing over the medium term despite profit volatility.
Read all positive factors
Beijing Enterprises Holdings (0392) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$39.88B
Dividend Yield4.94%
Average Volume (3M)934.01K
Price to Earnings (P/E)7.1
Beta (1Y)0.54
Revenue Growth3.77%
EPS Growth-1.53%
CountryHK
Employees30,000
SectorIndustrials
Sector Strength72
IndustryConglomerates
Share Statistics
EPS (TTM)4.42
Shares Outstanding1,258,003,300
10 Day Avg. Volume1,110,216
30 Day Avg. Volume934,014
Financial Highlights & Ratios
PEG Ratio2.20
Price to Book (P/B)0.40
Price to Sales (P/S)0.41
P/FCF Ratio23.97
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$39.19Price Target Upside21.62% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)4.24
Revenue Forecast (FY)HK$86.66B
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...
How the Company Makes Money
The company makes money mainly through operating and investing in utility-style businesses that generate recurring, contract- or tariff-based cash flows. Key revenue streams typically include: (1) City gas business: revenue from the sale and distr...
Beijing Enterprises Holdings Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
58
Neutral
Cash Flow
44
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 97.08B | 91.14B | 90.56B | 92.30B | 80.52B |
| Gross Profit | 13.27B | 12.16B | 10.35B | 10.84B | 11.08B |
| EBITDA | 7.28B | 10.19B | 9.67B | 10.13B | 12.38B |
| Net Income | 5.63B | 5.55B | 6.06B | 7.38B | 9.92B |
Balance Sheet | |||||
| Total Assets | 239.32B | 223.19B | 225.39B | 221.07B | 222.82B |
| Cash, Cash Equivalents and Short-Term Investments | 34.87B | 32.94B | 31.75B | 31.52B | 33.27B |
| Total Debt | 88.69B | 84.60B | 84.57B | 78.24B | 72.96B |
| Total Liabilities | 124.89B | 119.32B | 122.56B | 118.03B | 113.76B |
| Stockholders Equity | 99.18B | 90.32B | 89.11B | 89.92B | 95.98B |
Cash Flow | |||||
| Free Cash Flow | 1.67B | 600.16M | -575.29M | -4.54B | 48.19M |
| Operating Cash Flow | 7.41B | 7.14B | 9.18B | 8.88B | 11.55B |
| Investing Cash Flow | -2.65B | -7.11B | -11.74B | -14.34B | -11.34B |
| Financing Cash Flow | -5.59B | 465.89M | 3.63B | 2.36B | 1.81B |
Beijing Enterprises Holdings Technical Analysis
Neutral
32.22
Price Trends
32.22
Negative
33.15
Negative
33.37
Negative
Market Momentum
-0.10
Negative
49.21
Neutral
55.26
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0392, the sentiment is Neutral. The current price of 32.22 is above the 20-day moving average (MA) of 31.65, above the 50-day MA of 32.22, and below the 200-day MA of 33.37, indicating a neutral trend. The MACD of -0.10 indicates Negative momentum. The RSI at 49.21 is Neutral, neither overbought nor oversold. The STOCH value of 55.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:0392.
Beijing Enterprises Holdings Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | HK$22.85B | 2.84 | 6.12% | 5.00% | 2.39% | 7.81% | |
66 Neutral | HK$378.76B | 2.91 | 5.53% | 5.15% | 2.24% | 1.42% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | HK$274.04B | 17.13 | 2.12% | 4.02% | -0.47% | -30.71% | |
60 Neutral | HK$39.88B | 7.11 | 5.66% | 4.94% | 3.77% | -1.53% | |
60 Neutral | HK$16.70B | 7.75 | 4.07% | 6.37% | -27.96% | -28.06% | |
51 Neutral | HK$32.86B | -1.37 | -21.69% | 0.44% | -9.73% | -443.25% |
* Industrials Sector Average
HK:0392
Beijing Enterprises Holdings
31.60
0.17
0.54%
HK:0001
CK Hutchison Holdings
71.20
28.21
65.62%
HK:0267
CITIC
12.98
3.52
37.18%
HK:0656
Fosun International
3.97
-0.20
-4.82%
HK:0053
Guoco Group
70.05
8.22
13.30%
HK:0363
Shanghai Industrial Holdings
15.23
3.73
32.43%
Beijing Enterprises Holdings Corporate Events
Beijing Enterprises Sets 2026 AGM With Dividend, Board Votes and Share Buy-Back Mandate
Apr 29, 2026
Beijing Enterprises Holdings has called its 2026 annual general meeting for 28 May 2026 in Hong Kong, where shareholders will review the audited consolidated financial statements and related reports for the year ended 31 December 2025 and consider...
Beijing Enterprises Forms Strategy and Investment Committee to Tighten Oversight of Major Deals
Apr 28, 2026
Beijing Enterprises Holdings has established a Strategy and Investment Committee under its board to enhance corporate governance and more closely align strategic planning with major investment activities. The new body is formed by at least three d...
Beijing Enterprises Sets Up Rule of Law and Compliance Committee to Strengthen Governance
Apr 28, 2026
Beijing Enterprises Holdings Limited has established a Rule of Law and Compliance Committee under its board of directors to enhance corporate governance, strengthen rule of law development, and improve compliance management across the group. The c...
Beijing Enterprises Holdings Sets Up Board-Level Sustainability Committee
Apr 28, 2026
Beijing Enterprises Holdings Limited has established a Sustainability Committee under its board of directors to strengthen the group’s sustainability governance framework and decision‑making around environmental, social and governance ...
Beijing Enterprises Revamps Board Committees to Sharpen Governance, Strategy and ESG Oversight
Apr 28, 2026
Beijing Enterprises Holdings has overhauled its board committee structure, expanding the mandate of its Nomination Committee into a Nomination and Governance Committee to cover broader corporate governance responsibilities while keeping its existi...
Beijing Enterprises Sets Detailed Board and Committee Structure
Apr 28, 2026
Beijing Enterprises Holdings has announced the current composition of its board of directors and clarified the roles of each member across six key board committees. The structure includes dedicated committees for audit, remuneration, nomination an...
Beijing Enterprises Tightens Board Oversight With New Nomination and Governance Committee
Apr 28, 2026
Beijing Enterprises Holdings Limited has revamped its board-level Nomination Committee into a Nomination and Governance Committee, formalising its role in overseeing director and senior management selection, board structure, and corporate governan...
Beijing Enterprises’ Yanjing Brewery Delivers Strong Profit Surge in Q1 2026
Apr 24, 2026
Beijing Enterprises Holdings has reported that its indirect subsidiary Beijing Yanjing Brewery posted robust unaudited results for the quarter ended 31 March 2026, underscoring the strength of the group’s complementary beer business alongsid...
Beijing Enterprises Secures RMB950 Million Facility Tied to State-Controlled Ownership
Apr 24, 2026
Beijing Enterprises Holdings has disclosed that its wholly owned subsidiary, Beijing Enterprises Asset Management Limited, has secured a three-year bank credit facility of up to RMB950 million. The arrangement stipulates that Beijing Enterprises G...
Beijing Enterprises’ Brewery Unit Posts Strong Profit Growth in Q1 2026
Apr 22, 2026
Fujian Yanjing Huiquan Brewery, the Shanghai-listed beer manufacturing subsidiary of Beijing Enterprises Holdings, reported unaudited first-quarter 2026 revenue of RMB150.6 million, up 6.61% year on year, with profit for the period rising 31.53% t...
Yanjing Brewery Profits Surge in 2025 as Beijing Enterprises Unit Hikes Payout
Apr 15, 2026
Beijing Yanjing Brewery, a key beer subsidiary of Beijing Enterprises Holdings, reported solid growth for 2025, with revenue rising 4.54% to RMB15.33 billion and net profit attributable to shareholders surging 59.06% to RMB1.68 billion. Total asse...
Beijing Enterprises’ Brewery Unit Boosts 2025 Profit and Declares Dividend Amid Governance Changes
Apr 13, 2026
Fujian Yanjing Huiquan Brewery, a Shanghai-listed subsidiary of Beijing Enterprises Holdings, reported audited 2025 results showing revenue of RMB 640.3 million, down 1.05% year on year, but a 23.14% rise in net profit to RMB 80.1 million as profi...
Beijing Enterprises Proposes HKD 0.77 Final Dividend for 2025
Mar 26, 2026
Beijing Enterprises Holdings Limited has proposed a final ordinary dividend of HKD 0.77 per share for the financial year ended 31 December 2025, underscoring its commitment to returning cash to shareholders. The dividend, subject to shareholder ap...
Beijing Enterprises Lifts 2025 Profit as LNG, Utilities and Yanjing U8 Drive Growth
Mar 26, 2026
Beijing Enterprises Holdings Limited reported 2025 revenue of about RMB87.23 billion and profit attributable to shareholders of roughly RMB5.06 billion, alongside basic and diluted earnings per share of RMB4.02. The board proposed a final dividend...
Beijing Enterprises Sets March Board Meeting to Approve 2025 Results and Consider Dividend
Mar 12, 2026
Beijing Enterprises Holdings has scheduled a board meeting for 26 March 2026 in Hong Kong to review and approve the group’s audited annual results for the financial year ended 31 December 2025. The board will also consider whether to recomme...
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.