Shandong Hi-Speed Holdings Group Limited (HK:0412)
:0412
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Shandong Hi-Speed Holdings Group Limited
(0412)
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Rating:39Underperform
Price Target:
HK$1.00
▼(-41.18% Downside)
Action:DowngradedDate:04/26/26
The score is held down primarily by weak financial fundamentals—especially negative equity and high leverage—alongside volatile earnings and inconsistent cash flow. Technicals also point to a sustained downtrend with negative momentum. Valuation is difficult to justify positively because the company is loss-making (negative P/E) and no dividend yield is available.
Positive Factors
Stable toll-road concession business
The company’s core business is owning and operating toll-road assets, which typically produce recurring traffic-based toll revenues and service fees. That concession-style model provides structurally steadier cash generation and predictable operational exposure over months, supporting medium-term revenue visibility versus spot-dependent businesses.
Negative Factors
Very high leverage and negative equity
Negative shareholders’ equity and a very large debt stock materially weaken capital buffers and reduce financial flexibility. Structurally, this elevates refinancing and solvency risk, likely increasing borrowing costs and constraining strategic options absent asset sales, capital injections, or deleveraging over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable toll-road concession business
The company’s core business is owning and operating toll-road assets, which typically produce recurring traffic-based toll revenues and service fees. That concession-style model provides structurally steadier cash generation and predictable operational exposure over months, supporting medium-term revenue visibility versus spot-dependent businesses.
Read all positive factors
Shandong Hi-Speed Holdings Group Limited (0412) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$7.89B
Dividend YieldN/A
Average Volume (3M)113.58M
Price to Earnings (P/E)―
Beta (1Y)0.63
Revenue GrowthN/A
EPS GrowthN/A
CountryHK
Employees1,992
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)-0.11
Shares Outstanding6,019,431,000
10 Day Avg. Volume22,766,286
30 Day Avg. Volume113,578,696
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)-11.47
Price to Sales (P/S)1.75
P/FCF Ratio3.28
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)0.08
Revenue Forecast (FY)HK$6.77B
Shandong Hi-Speed Holdings Group Limited Business Overview & Revenue Model
Company Description
Shandong Hi-Speed Holdings Group Limited, an investment holding company, provides various financial services in the People's Republic of China. The company operates through four segments: Standard Investment, Nonstandard Investment, License Busine...
How the Company Makes Money
The company primarily makes money by investing in and operating infrastructure assets, especially toll roads. Key revenue streams generally include: (1) toll revenue collected from vehicles using toll roads operated by the group or its investees; ...
Shandong Hi-Speed Holdings Group Limited Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
18
Very Negative
Cash Flow
40
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.68B | 5.58B | 5.53B | 4.19B | 1.07B |
| Gross Profit | 1.48B | 2.68B | 2.44B | 2.26B | 738.63M |
| EBITDA | 4.32B | 3.74B | 3.47B | 2.66B | 7.59M |
| Net Income | -130.80M | 353.52M | 324.56M | -169.06M | 30.41M |
Balance Sheet | |||||
| Total Assets | 73.43B | 66.17B | 66.19B | 68.96B | 18.76B |
| Cash, Cash Equivalents and Short-Term Investments | 12.73B | 9.08B | 8.41B | 10.08B | 8.67B |
| Total Debt | 45.29B | 44.97B | 45.37B | 47.25B | 11.44B |
| Total Liabilities | 60.89B | 48.42B | 48.99B | 53.38B | 11.72B |
| Stockholders Equity | -713.38M | 6.11B | 5.57B | 7.07B | 6.97B |
Cash Flow | |||||
| Free Cash Flow | 2.49B | -750.67M | 1.70B | 5.26B | -12.12B |
| Operating Cash Flow | 4.36B | 471.26M | 3.33B | 6.16B | -12.06B |
| Investing Cash Flow | -1.23B | -1.80B | -60.83M | 464.86M | 10.17B |
| Financing Cash Flow | -2.02B | -2.10B | 655.77M | -3.50B | -1.77B |
Shandong Hi-Speed Holdings Group Limited Technical Analysis
Negative
1.70
Price Trends
1.52
Negative
1.57
Negative
6.56
Negative
Market Momentum
-0.07
Positive
36.25
Neutral
12.28
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0412, the sentiment is Negative. The current price of 1.7 is above the 20-day moving average (MA) of 1.39, above the 50-day MA of 1.52, and below the 200-day MA of 6.56, indicating a bearish trend. The MACD of -0.07 indicates Positive momentum. The RSI at 36.25 is Neutral, neither overbought nor oversold. The STOCH value of 12.28 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0412.
Shandong Hi-Speed Holdings Group Limited Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | HK$151.26B | 7.74 | 9.55% | 3.83% | 38.36% | 19.98% | |
61 Neutral | HK$85.71B | 9.46 | 6.85% | 3.48% | 24.21% | 75.20% | |
57 Neutral | HK$73.69B | 10.15 | 5.58% | 2.66% | 14.46% | 25.89% | |
55 Neutral | HK$59.87B | 10.76 | 4.07% | 1.18% | 51.17% | 27.91% | |
54 Neutral | HK$129.44B | 6.39 | 8.68% | 2.89% | -21.60% | 73.59% | |
39 Underperform | HK$7.89B | -62.58 | 2.83% | ― | ― | ― |
* Financial Sector Average
HK:0412
Shandong Hi-Speed Holdings Group Limited
1.31
-5.26
-80.06%
HK:6099
China Merchants Securities Co., Ltd. Class H
13.74
2.04
17.41%
HK:3958
Orient Securities Co., Ltd. Class H
6.18
1.73
38.78%
HK:6178
Everbright Securities Company Limited Class H
8.04
1.28
18.95%
HK:6806
Shenwan Hongyuan Group Co., Ltd. Class H
2.79
0.71
33.81%
HK:1456
Guolian Securities Co., Ltd. Class H
4.62
1.12
32.00%
Shandong Hi-Speed Holdings Group Limited Corporate Events
Shandong Hi-Speed Sets June 2026 AGM, Seeks Fresh Share Issuance Mandate
Apr 23, 2026
Shandong Hi-Speed Holdings Group Limited has called its annual general meeting for 16 June 2026 in Hong Kong, where shareholders will review the audited financial statements for the year ended 31 December 2025 and the reports of the board and the ...
Shandong Hi-Speed Units Sign RMB1.2 Billion EPC Deal for New Project
Mar 31, 2026
Shandong Hi-Speed New Energy Group and Shandong Hi-Speed Holdings have jointly announced that Heze SH, their shared project subsidiary, has signed an engineering, procurement and construction contract worth about RMB1.2 billion with two Chinese co...
Shandong Hi-Speed Holdings Profit Slumps in 2025 Amid Higher Costs and Losses
Mar 27, 2026
Shandong Hi-Speed Holdings Group Limited reported revenue of RMB5.03 billion for 2025, down from RMB5.58 billion a year earlier, with gross profit also declining. Despite strong fair value gains on financial assets and higher contributions from as...
Shandong Hi-Speed Wins Key Court Rulings in US$100 Million Note Dispute
Mar 18, 2026
Shandong Hi-Speed Holdings Group Limited has provided an update on legal actions related to a US$100 million note subscription by its indirect wholly owned subsidiary, China Shandong Hi-Speed Capital (HK) Limited, after the issuer failed to redeem...
Shandong Hi-Speed Sets March 2026 Board Meeting to Approve 2025 Results and Mull Dividend
Mar 17, 2026
Shandong Hi-Speed Holdings Group Limited has scheduled a board meeting for 27 March 2026 to review and approve the annual results for the financial year ended 31 December 2025, along with their planned publication. The board will also consider the...
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.