New City Development Group Limited (HK:0456)
:0456
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New City Development Group Limited
(0456)
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Rating:45Neutral
Price Target:
HK$0.44
▼(-0.23% Downside)
Action:Upgraded
Date:05/09/26
The score is held down primarily by weak financial performance—deep losses, contracting revenue, and sharply higher leverage with reduced equity—partly offset by strong recent cash flow. Technicals are moderately supportive with price above major moving averages, but mixed momentum indicators limit the uplift. Valuation is constrained by a negative P/E and no dividend yield data.
Positive Factors
Strong operating & free cash flow
Sustained positive operating and free cash flow in 2025 (>HK$200M) provides durable liquidity to fund project completion, service debt and avoid urgent refinancing. Reliable cash generation creates runway for restructuring or reinvestment despite earnings volatility.
Negative Factors
Deep net losses
A net margin near -348% reflects large non-operating losses or impairments that destroy equity and restrict capital allocation. Persistent deep losses undermine balance-sheet repair, deter partners and lenders, and require sustained profit recovery to restore financial stability.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong operating & free cash flow
Sustained positive operating and free cash flow in 2025 (>HK$200M) provides durable liquidity to fund project completion, service debt and avoid urgent refinancing. Reliable cash generation creates runway for restructuring or reinvestment despite earnings volatility.
Read all positive factors
New City Development Group Limited (0456) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$83.96M
Dividend YieldN/A
Average Volume (3M)80.40K
Price to Earnings (P/E)―
Beta (1Y)1.37
Revenue Growth-36.81%
EPS Growth-27.99%
CountryHK
Employees43
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)-1.39
Shares Outstanding186,579,880
10 Day Avg. Volume14,200
30 Day Avg. Volume80,402
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)0.43
Price to Sales (P/S)1.09
P/FCF Ratio0.33
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
New City Development Group Limited Business Overview & Revenue Model
Company Description
New City Development Group Limited, an investment holding company, engages in the property development and investment activities in the People's Republic of China. It also sells buses; and offers general management services, as well as engages in ...
How the Company Makes Money
null...
New City Development Group Limited Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
27
Negative
Cash Flow
56
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 63.50M | 98.61M | 172.93M | 180.19M | 197.82M |
| Gross Profit | 20.23M | 49.80M | 79.87M | 81.81M | 93.76M |
| EBITDA | -221.51M | -112.67M | -163.57M | -55.19M | -21.67M |
| Net Income | -220.96M | -127.65M | -125.95M | -76.23M | -64.42M |
Balance Sheet | |||||
| Total Assets | 1.47B | 1.61B | 1.73B | 1.97B | 2.29B |
| Cash, Cash Equivalents and Short-Term Investments | 64.21M | 8.46M | 36.82M | 33.15M | 42.02M |
| Total Debt | 402.42M | 253.17M | 700.53M | 736.76M | 864.71M |
| Total Liabilities | 1.37B | 1.34B | 1.36B | 1.44B | 1.55B |
| Stockholders Equity | 159.46M | 327.94M | 406.06M | 544.19M | 706.42M |
Cash Flow | |||||
| Free Cash Flow | 211.50M | 58.70M | 109.80M | 175.73M | -274.09M |
| Operating Cash Flow | 226.57M | 62.62M | 115.80M | 175.74M | -266.01M |
| Investing Cash Flow | 12.13M | -3.87M | -6.00M | 85.00K | -8.68M |
| Financing Cash Flow | -244.00M | -60.29M | -108.64M | -216.04M | 232.43M |
New City Development Group Limited Technical Analysis
Negative
0.44
Price Trends
0.47
Negative
0.47
Negative
0.48
Negative
Market Momentum
<0.01
Negative
44.67
Neutral
48.54
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0456, the sentiment is Negative. The current price of 0.44 is below the 20-day moving average (MA) of 0.47, below the 50-day MA of 0.47, and below the 200-day MA of 0.48, indicating a bearish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 44.67 is Neutral, neither overbought nor oversold. The STOCH value of 48.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0456.
New City Development Group Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
50 Neutral | HK$78.36M | 1.83 | -39.03% | ― | 3574.59% | 48.95% | |
45 Neutral | HK$83.96M | -0.31 | -39.65% | ― | -36.81% | -27.99% | |
45 Neutral | HK$168.13M | -0.06 | 94.32% | ― | 24.74% | -115.94% | |
45 Neutral | HK$87.24M | -0.29 | -39.55% | ― | -81.49% | 55.68% | |
45 Neutral | HK$120.49M | -0.22 | -44.79% | ― | 55.82% | -43.40% |
* Real Estate Sector Average
HK:0456
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New City Development Group Limited Corporate Events
New City Development Reshapes Board with New Independent Director
May 21, 2026
New City Development Group Limited has announced boardroom changes, with independent non-executive director Zhang Jing stepping down effective 21 May 2026 to focus on other business commitments. His resignation also ends his roles as chairman of t...
New City Development Names Board Line-Up and Key Committee Roles
May 21, 2026
New City Development Group Limited has announced the current composition of its board of directors, naming Han Junran as both chairman and chief executive officer alongside two other executive directors and four independent non-executive directors...
New City Development details RMB525 million compensation in Guangzhou land requisition
May 20, 2026
New City Development Group has disclosed additional details on the government-led requisition of the Guangzhou Changliu Industrial Park, part of a broader renewal of the New Central Axis in Haizhu District. The company, through Guangzhou Changliu ...
New City Development Raises Share Subscription Price, Boosting Proceeds for Working Capital
May 5, 2026
New City Development Group Limited has clarified that its subscription agreement for new shares under a general mandate was signed after trading hours on 4 May 2026, and that a supplemental agreement was executed on 5 May 2026 to revise key terms....
New City Development Halts Trading Pending Share Subscription Price Update
May 5, 2026
New City Development Group Limited has requested a halt in trading of its shares on the main board of the Stock Exchange of Hong Kong, effective from 9:00 a.m. on 5 May 2026. The suspension is linked to a planned announcement regarding a possible ...
New City Development Plans Discounted Share Placement to Raise Working Capital
May 4, 2026
New City Development Group has entered into a subscription agreement with an independent professional investor for 27,649,000 new shares at HK$0.373 each, representing about 14.82% of its existing share capital and 12.91% of the enlarged base. The...
New City Development Overhauls Independent Board Line-Up
Apr 17, 2026
New City Development Group Limited has announced the resignation of independent non-executive directors Alex Leung Kwai Wah and Anthony Chan Yiu Tung, effective 17 April 2026, as they shift focus to other business commitments. Their departure also...
New City Development Sets Out Board and Committee Structure
Apr 17, 2026
New City Development Group Limited has announced the current composition of its board, confirming Han Junran as chairman and chief executive officer, alongside two other executive directors and four independent non-executive directors. The structu...
New City Development Loss Deepens as Revenue Falls and Impairments Mount
Mar 31, 2026
New City Development Group Limited, incorporated in the Cayman Islands and listed on the Hong Kong Stock Exchange, runs its business through subsidiaries engaged in selling goods and providing services, with activities linked to property developme...
New City Development Schedules Board Meeting to Approve 2025 Annual Results
Feb 27, 2026
New City Development Group Limited has scheduled a board meeting for 31 March 2026 to review and approve the annual results for the financial year ended 31 December 2025. The meeting will also address any other board business, signaling the upcomi...
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.