Pacific Century Premium Developments Limited (HK:0432)
:0432
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Pacific Century Premium Developments Limited
(0432)
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Rating:50Neutral
Price Target:
HK$0.26
▲(36.84% Upside)
Action:ReiteratedDate:03/07/26
The score is held down primarily by weak financial fundamentals—negative equity with high debt, continued net losses, and negative operating/free cash flow—despite improving operating performance. Technicals are a clear positive (price above major moving averages with constructive momentum), while valuation is difficult to support due to negative earnings and no dividend data.
Positive Factors
High gross margin & improving operating earnings
A ~71% gross margin and a return to positive operating earnings in 2025 indicate durable underlying project economics and operational leverage. For a developer/investor, strong gross margins help absorb market swings in sales/rents and support sustained operating profitability as project execution normalizes.
Negative Factors
High leverage and negative shareholders' equity
Negative equity combined with ~9.2B debt materially raises solvency and refinancing risk. Structurally, this limits financial flexibility, heightens covenant/default concerns and reduces capacity to fund new projects or absorb shocks, making medium-term capital strategy and access to credit more constrained.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margin & improving operating earnings
A ~71% gross margin and a return to positive operating earnings in 2025 indicate durable underlying project economics and operational leverage. For a developer/investor, strong gross margins help absorb market swings in sales/rents and support sustained operating profitability as project execution normalizes.
Read all positive factors
Pacific Century Premium Developments Limited (0432) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$601.28M
Dividend YieldN/A
Average Volume (3M)251.07K
Price to Earnings (P/E)―
Beta (1Y)0.39
Revenue Growth16.09%
EPS Growth69.95%
CountryHK
Employees1,403
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)0.09
Shares Outstanding2,038,236,700
10 Day Avg. Volume187,701
30 Day Avg. Volume251,069
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)-3.95
Price to Sales (P/S)0.37
P/FCF Ratio-0.94
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
Pacific Century Premium Developments Limited Business Overview & Revenue Model
Company Description
Pacific Century Premium Developments Limited, together with its subsidiaries, develops and manages property and infrastructure projects in the Asia-Pacific region. The company also invests in residential and office buildings and properties; and pr...
How the Company Makes Money
The company primarily makes money through (1) property development profits and (2) recurring income from investment properties and associated real-estate operations. (1) Property development: it acquires or secures development rights to land/build...
Pacific Century Premium Developments Limited Financial Statement Overview
Summary
Income Statement
32
Negative
Balance Sheet
18
Very Negative
Cash Flow
22
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.05B | 901.00M | 822.00M | 561.00M | 467.00M |
| Gross Profit | 738.00M | 620.00M | 547.00M | 137.00M | 97.00M |
| EBITDA | 285.00M | 281.00M | 105.00M | -6.00M | -141.00M |
| Net Income | -69.00M | -230.00M | -466.00M | -598.00M | -825.00M |
Balance Sheet | |||||
| Total Assets | 11.35B | 10.87B | 11.03B | 11.29B | 15.05B |
| Cash, Cash Equivalents and Short-Term Investments | 725.00M | 659.00M | 865.00M | 1.34B | 3.58B |
| Total Debt | 9.24B | 9.89B | 9.48B | 9.01B | 11.37B |
| Total Liabilities | 11.31B | 10.80B | 10.34B | 10.08B | 12.50B |
| Stockholders Equity | -97.00M | -67.00M | 549.00M | 1.08B | 2.41B |
Cash Flow | |||||
| Free Cash Flow | -406.00M | -145.00M | 171.00M | 45.00M | -656.00M |
| Operating Cash Flow | -359.00M | -75.00M | 245.00M | 101.00M | -394.00M |
| Investing Cash Flow | -51.00M | -73.00M | 16.00M | 1.80B | -2.20B |
| Financing Cash Flow | 422.00M | -79.00M | 9.00M | -2.76B | 2.95B |
Pacific Century Premium Developments Limited Technical Analysis
Positive
0.19
Price Trends
0.27
Negative
0.23
Positive
0.22
Positive
Market Momentum
>-0.01
Positive
45.16
Neutral
61.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0432, the sentiment is Positive. The current price of 0.19 is below the 20-day moving average (MA) of 0.26, below the 50-day MA of 0.27, and below the 200-day MA of 0.22, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 45.16 is Neutral, neither overbought nor oversold. The STOCH value of 61.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0432.
Pacific Century Premium Developments Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | HK$833.00M | -25.47 | -4.93% | 4.14% | -3.01% | -178.00% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
60 Neutral | HK$220.34M | 12.05 | 2.29% | ― | -25.82% | -27.96% | |
54 Neutral | HK$210.61M | 5.65 | 4.23% | 6.60% | -9.97% | -46.38% | |
52 Neutral | HK$258.39M | -0.98 | -20.99% | ― | -54.06% | -967.44% | |
50 Neutral | HK$601.28M | -5.55 | 242.95% | ― | 16.09% | 69.95% |
* Real Estate Sector Average
HK:0432
Pacific Century Premium Developments Limited
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Pacific Century Premium Developments Limited Corporate Events
PCPD agrees US$400 million sale of Jakarta landmark asset
Mar 16, 2026
Pacific Century Premium Developments has agreed to sell its entire equity interest in the Jakarta-based Pacific Century Place project, including the full share capital of the holding vehicle and an associated shareholder loan, for US$400 million i...
PCPD Sets 2026 AGM, Seeks Fresh Share Issuance Mandate
Mar 5, 2026
Pacific Century Premium Developments Limited has called its annual general meeting for May 20, 2026, in Hong Kong to conduct standard corporate business for the year ended December 31, 2025. Shareholders will be asked to adopt the audited financia...
PCPD Weighs US$400 Million Offer for Jakarta Flagship Property Unit
Feb 13, 2026
Pacific Century Premium Developments Limited has received a US$400 million offer from an independent third party to acquire Rafflesia Investment Limited, its indirect wholly owned subsidiary that owns Pacific Century Place, a premium commercial bu...
Pacific Century Premium Developments to Exit Japan’s Midtown Niseko in US$80 Million Sale
Feb 13, 2026
Pacific Century Premium Developments Limited has agreed to sell its entire interest in the company that owns and operates Midtown Niseko, a hospitality asset in Japan, for US$80 million, including shareholder loans. Upon completion, the Niseko bus...
PCPD Lifts Revenue on Japan and Resort Growth but Stays in the Red
Feb 9, 2026
Pacific Century Premium Developments reported a 51 per cent rise in consolidated revenue from continuing operations to HK$1,046 million for 2025, driven by contributions from Japan, Indonesia, and Thailand, but still posted a loss attributable to ...
Pacific Century Premium Developments Delays Board Meeting for 2025 Results and Dividend Decision
Jan 29, 2026
Pacific Century Premium Developments Limited has postponed its planned board meeting, originally scheduled for 3 February 2026, to 9 February 2026 due to directors’ scheduling constraints. The meeting is intended to approve and publish the g...
PCPD Sets February Board Meeting to Approve 2025 Results and Mull Final Dividend
Jan 22, 2026
Pacific Century Premium Developments Limited has scheduled a board meeting for 3 February 2026 to review and approve the annual results of the company and its subsidiaries for the financial year ended 31 December 2025 and to arrange for their publ...
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.