Central Development Holdings Limited (0475) AI Stock Analysis

• Market Cap: HK$191.62M
• Dividend Yield: N/A
• Average Volume (3M): 27.20K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.30
• Revenue Growth: 13.38%
• EPS Growth: 33.42%
• Country: HK
• Employees: 69
• Sector: Energy
• Sector Strength: 52
• Industry: Solar
• EPS (TTM): -0.03
• Shares Outstanding: 412,081,000
• 10 Day Avg. Volume: 4,200
• 30 Day Avg. Volume: 27,200
• PEG Ratio: 0.22
• Price to Book (P/B): -14.03
• Price to Sales (P/S): 0.75
• P/FCF Ratio: -7.91
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: HK$0.47 ▼(-16.79% Downside)

The score is primarily held back by weak financial performance—ongoing losses, negative equity/high leverage risk, and weak cash flow quality—despite improved revenue growth. Technicals provide some support with mildly improving momentum, but valuation remains unattractive/unclear due to negative earnings and no dividend data.

Positive Factors

Diversified property revenue streams

The company's model combines property development, leasing and management fees, creating multiple revenue channels. This structural mix smooths cash generation across cycles, allows recurring rental income while development projects mature, and supports long-term value capture via asset ownership.

Recovering revenue growth

Sustained top-line growth signals improving demand and project execution capacity. Over a 2-6 month horizon this trend supports higher utilization of development capacity, better project pacing, and potential operating leverage as fixed costs are spread across larger sales and rental bases.

Lean operating headcount

A small core team implies lower fixed overhead and flexibility to scale via contractors or JV partners typical in property development. This structural cost discipline helps preserve margins as revenue grows and reduces cash burn during project lulls, aiding medium-term resilience.

Negative Factors

Negative stockholders' equity

Negative equity is a durable financing constraint: it raises refinancing and covenant risk and diminishes capacity to secure new development financing. For a developer, this limits land acquisition and project leverage options, materially increasing execution risk over months ahead.

Persistent unprofitability

Ongoing negative operating margins erode retained capital and limit reinvestment into new projects. Without structural margin improvement, the company will rely on external financing for growth, reducing strategic autonomy and increasing vulnerability to tightening credit over the medium term.

Weak cash flow quality

Negative FCF and low operating cash conversion indicate the business cannot internally fund development cycles. In property development this forces dependence on external capital or pre-sales, elevating refinancing and liquidity risk and constraining sustainable project pacing over coming months.

Central Development Holdings Limited Business Overview & Revenue Model

Company Description

Central Development Holdings Limited, an investment holding company, engages in the design, manufacture, and wholesale of fine jewelry products primarily in the People's Republic of China and Hong Kong. The company operates through Jewelry Business and Energy Business segments. It also manufactures and sells solar cooling intelligent technology products using thermal cooling-stored pipes; sells solar photovoltaic modules and components, as well as new energy smart direct current inverters and power optimizers; and sells refined oil and liquefied natural gas. The company offers its jewelry products to jewelry distributors and retailers. The company was formerly known as Zhong Fa Zhan Holdings Limited and changed its name to Central Development Holdings Limited in October 2019. The company is headquartered in Wan Chai, Hong Kong. Central Development Holdings Limited is a subsidiary of Resources Rich Capital Limited.

How the Company Makes Money

The company generates revenue primarily through the sale and leasing of residential and commercial properties. Its revenue model is anchored in property development, where it acquires land, develops it into profitable real estate projects, and then sells or leases the developed properties. Key revenue streams include direct sales from completed projects, rental income from investment properties, and management fees associated with property management services. Additionally, Central Development Holdings may engage in partnerships with other developers or investors to co-develop projects, which can provide additional income through joint ventures or profit-sharing agreements.

Central Development Holdings Limited Financial Statement Overview

Summary

Central Development Holdings Limited faces significant financial challenges, with persistent losses and high leverage. While revenue growth is a positive sign, the company needs to address its profitability and cash flow issues to improve financial health.

Income Statement

The company has shown a positive revenue growth rate of 23.58% in the latest year, indicating a recovery from previous declines. However, profitability remains a significant concern with negative net profit and EBIT margins, reflecting ongoing operational challenges.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio due to negative stockholders' equity, indicating financial instability and potential risk. The return on equity is negative, further highlighting profitability issues.

Cash Flow

Cash flow analysis shows a negative free cash flow growth rate, suggesting cash management issues. The operating cash flow to net income ratio is negative, indicating inefficiencies in converting income into cash.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	209.27M	228.10M	188.55M	247.89M	193.11M	56.22M
Gross Profit	9.48M	11.28M	7.74M	4.64M	8.21M	2.18M
EBITDA	5.66M	2.26M	-13.45M	-455.00K	-1.90M	-15.67M
Net Income	-20.09M	-19.17M	-31.05M	-11.91M	-13.98M	-24.61M
Balance Sheet
Total Assets	258.89M	263.83M	259.32M	256.01M	242.04M	235.12M
Cash, Cash Equivalents and Short-Term Investments	20.20M	16.96M	16.29M	13.12M	20.09M	37.30M
Total Debt	209.20M	201.44M	170.43M	149.79M	149.46M	140.94M
Total Liabilities	254.70M	251.95M	231.49M	201.60M	187.12M	181.80M
Stockholders Equity	-20.45M	-12.26M	3.94M	29.86M	24.20M	22.79M
Cash Flow
Free Cash Flow	5.38M	-21.75M	-10.10M	8.40M	-28.50M	-3.40M
Operating Cash Flow	5.67M	-21.46M	-9.98M	9.14M	-28.17M	-1.01M
Investing Cash Flow	-291.00K	-230.00K	-70.00K	-1.65M	-94.00K	-22.39M
Financing Cash Flow	-4.80M	22.85M	13.71M	-13.17M	9.65M	19.76M

Central Development Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.56
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0475, the sentiment is Negative. The current price of 0.56 is above the 20-day moving average (MA) of 0.45, above the 50-day MA of 0.46, and above the 200-day MA of 0.52, indicating a neutral trend. The MACD of 0.01 indicates Negative momentum. The RSI at 49.82 is Neutral, neither overbought nor oversold. The STOCH value of 51.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0475.

Central Development Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
1421	53 Neutral	HK$76.74M	-2.92	-19.05%	―	-11.09%	69.57%
0475	46 Neutral	HK$191.62M	-9.43	―	―	13.38%	33.42%
8111	45 Neutral	HK$32.27M	-1.30	-94.63%	―	―	50.51%
0438	43 Neutral	HK$403.78M	-0.58	-46.12%	―	-29.43%	-752.95%
0712	40 Underperform	HK$120.83M	-2.39	―	―	3.70%	-42.25%
0757	39 Underperform	HK$275.87M	-1.05	-24.72%	―	-43.94%	-162.54%

Central Development Holdings Limited Corporate Events

Central Development Calls EGM to Approve HK$35 Million Loan-to-Equity Conversion

Central Development Holdings Limited has called an extraordinary general meeting for 20 January 2026 in Hong Kong, where shareholders will vote on a proposed loan capitalisation involving the conversion of HK$35 million of an unsecured shareholder loan owed to Mr. Hu into equity. Under the proposal, Oceanic Capital will subscribe for 87.5 million new shares at HK$0.40 per share, subject to Stock Exchange approval, and directors are seeking a specific mandate to allot and issue these capitalisation shares and to execute all related documentation, a move that would strengthen the company’s balance sheet by reducing debt while diluting existing shareholdings.

The most recent analyst rating on (HK:0475) stock is a Sell with a HK$0.50 price target. To see the full list of analyst forecasts on Central Development Holdings Limited stock, see the HK:0475 Stock Forecast page.

Central Development Holdings Announces Loan Capitalisation Agreement

Central Development Holdings Limited has entered into a Loan Capitalisation Agreement with Mr. Hu and Oceanic Capital, where Oceanic Capital will subscribe to 87,500,000 new shares at HK$0.4 each. This transaction, representing a significant portion of the company’s issued shares, is a connected transaction requiring independent shareholder approval, highlighting Mr. Hu’s role as a controlling shareholder.

The most recent analyst rating on (HK:0475) stock is a Sell with a HK$0.50 price target. To see the full list of analyst forecasts on Central Development Holdings Limited stock, see the HK:0475 Stock Forecast page.

Central Development Holdings Reports Interim Loss Amid Revenue Decline

Central Development Holdings Limited reported its unaudited interim results for the six months ending September 30, 2025, showing a decrease in revenue from HK$86,745,000 in 2024 to HK$67,910,000 in 2025. The company experienced a loss for the period, with a total comprehensive expense of HK$9,045,000, attributed mainly to increased finance costs and administrative expenses, impacting its profitability and stakeholder returns.

The most recent analyst rating on (HK:0475) stock is a Sell with a HK$0.50 price target. To see the full list of analyst forecasts on Central Development Holdings Limited stock, see the HK:0475 Stock Forecast page.

Central Development Holdings Announces Upcoming Board Meeting

Central Development Holdings Limited, incorporated in the Cayman Islands, has announced a board meeting scheduled for November 26, 2025. The meeting will address the approval of the company’s unaudited interim results for the six months ending September 30, 2025, and consider the recommendation for an interim dividend.

The most recent analyst rating on (HK:0475) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Central Development Holdings Limited stock, see the HK:0475 Stock Forecast page.