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$0.22
▼(-21.43% Downside)
Action:Reiterated
Date: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 & positive operating earnings
A ~71% gross margin and a return to positive operating earnings in 2025 indicate durable pricing power and cost control in core real-estate operations. Sustained operating profitability supports capacity to fund maintenance, pursue selective development, and improves prospects for converting to net profitability over time.
Negative Factors
High leverage and negative equity
Debt of ~9.2B and negative shareholders’ equity materially weaken financial flexibility and increase refinancing and solvency risk. Over the medium term this constrains the ability to fund projects internally, raises the probability of asset sales or dilutive capital raises, and heightens downside in stressed markets.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margin & positive operating earnings
A ~71% gross margin and a return to positive operating earnings in 2025 indicate durable pricing power and cost control in core real-estate operations. Sustained operating profitability supports capacity to fund maintenance, pursue selective development, and improves prospects for converting to net profitability over time.
Read all positive factors
Pacific Century Premium Developments Limited (0432) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$448.41M
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)-0.03
Shares Outstanding2,038,236,700
10 Day Avg. Volume187,701
30 Day Avg. Volume251,069
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)-1.51
Price to Sales (P/S)0.14
P/FCF Ratio-0.36
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
Based in Hong Kong, Pacific Century Premium Developments Limited and its associated companies are primarily engaged in the development and management of property and infrastructure ventures across the Asia-Pacific. The firm also strategically inve...
How the Company Makes Money
The company’s earnings are primarily derived from real estate activities. Key revenue streams typically include: (1) proceeds from property development projects (recognized when properties are sold and relevant revenue recognition conditions are m...
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 | 264.00M | 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
Negative
0.28
Price Trends
0.26
Negative
0.26
Negative
0.23
Negative
Market Momentum
>-0.01
Positive
29.72
Positive
17.75
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0432, the sentiment is Negative. The current price of 0.28 is above the 20-day moving average (MA) of 0.24, above the 50-day MA of 0.26, and above the 200-day MA of 0.23, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 29.72 is Positive, neither overbought nor oversold. The STOCH value of 17.75 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
73 Outperform | HK$6.81B | 10.05 | 3.35% | 5.29% | -9.69% | -9.25% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
56 Neutral | HK$600.10M | -3.71 | -2.19% | ― | -7.15% | ― | |
54 Neutral | HK$563.83M | -2.20 | -3.21% | 3.60% | -2.13% | 22.74% | |
50 Neutral | HK$448.41M | -6.94 | 242.95% | ― | 16.09% | 69.95% | |
50 Neutral | HK$1.87B | -5.58 | -0.27% | ― | -12.20% | -158.05% | |
47 Neutral | HK$583.95M | -14.32 | -0.94% | 6.05% | -0.96% | 91.94% |
* Real Estate Sector Average
HK:0432
Pacific Century Premium Developments Limited
0.22
0.01
4.76%
HK:0071
Miramar Hotel & Investment Co
9.85
0.81
8.95%
HK:0410
SOHO China
0.36
-0.16
-30.77%
HK:0224
Pioneer Global Group Limited
0.52
-0.13
-20.00%
HK:0225
Pokfulam Development Co. Ltd.
5.30
0.42
8.52%
HK:0089
Tai Sang Land Development Limited
1.96
0.18
9.87%
Pacific Century Premium Developments Limited Corporate Events
PCPD shareholders back Jakarta and Niseko deals with near-unanimous vote
May 20, 2026
Pacific Century Premium Developments reported that shareholders overwhelmingly approved all resolutions at a special general meeting held on 20 May 2026, with nearly all votes cast in favour by poll. The approved matters include ratifying Jakarta ...
PCPD shareholders back all resolutions at 2026 AGM
May 20, 2026
Pacific Century Premium Developments reported that all resolutions at its 2026 annual general meeting were approved by shareholders through a poll on May 20 in Hong Kong. The measures included adoption of the 2025 audited financial statements, re-...
PCPD Plans US$500 Million 7.5% Guaranteed Notes Due 2029
May 11, 2026
Pacific Century Premium Developments has arranged for its subsidiary PCPD Capital to issue US$500 million of 7.5 per cent guaranteed notes due in 2029, with the parent acting as guarantor and HSBC as manager. The notes, to be listed on the Singapo...
PCPD Calls Special Meeting to Approve Jakarta and Niseko Asset Sales
May 4, 2026
Pacific Century Premium Developments Limited has called a special general meeting for 20 May 2026 in Hong Kong for shareholders to vote on two major divestments involving assets in Jakarta and Niseko. The Jakarta deal involves the sale of the enti...
PCPD Sets May 2026 Record Date and Register Closure for Special General Meeting
Apr 30, 2026
Pacific Century Premium Developments Limited has scheduled a special general meeting for 20 May 2026, setting the same date as the record date for shareholders entitled to attend and vote. To facilitate this, the company will close its register of...
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.