Shenzhen Investment Limited (HK:0604)
:0604
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Shenzhen Investment
(0604)
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Rating:53Neutral
Price Target:
HK$0.71
â–¼(-21.87% Downside)
Action:Reiterated
Date:05/03/26
The score is driven primarily by improving liquidity (strong 2025 operating/free cash flow) and a sharp revenue rebound, offset by continued and widening losses with margin compression and a still-leveraged balance sheet. Technicals are mildly supportive in the short term, while valuation is weakened by loss-making results and no dividend yield data.
Positive Factors
Improved cash generation
The sharp turnaround to positive operating and free cash flow in 2025 provides durable liquidity to fund project completions, service debt and reduce short-term refinancing pressure. Strong cash conversion supports operational continuity even if earnings remain volatile.
Negative Factors
Continued net losses
Widening net losses and a negative net margin indicate persistent profitability weakness. Continued losses constrain retained capital for development, increase reliance on external funding, and weaken returns on invested capital over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved cash generation
The sharp turnaround to positive operating and free cash flow in 2025 provides durable liquidity to fund project completions, service debt and reduce short-term refinancing pressure. Strong cash conversion supports operational continuity even if earnings remain volatile.
Read all positive factors
Shenzhen Investment (0604) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$6.23B
Dividend Yield10.98%
Average Volume (3M)19.76M
Price to Earnings (P/E)―
Beta (1Y)1.40
Revenue Growth153.96%
EPS Growth-139.55%
CountryHK
Employees18,710
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)-0.49
Shares Outstanding8,898,793,000
10 Day Avg. Volume15,240,152
30 Day Avg. Volume19,763,427
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)0.20
Price to Sales (P/S)0.17
P/FCF Ratio0.88
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$0.90Price Target Upside-1.10% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.03
Revenue Forecast (FY)HK$16.36B
Shenzhen Investment Business Overview & Revenue Model
Company Description
Headquartered in Tsim Sha Tsui, Hong Kong, and established in 1992, Shenzhen Investment Limited is primarily engaged in the investment, development, and management of real estate properties across Mainland China. The company's diverse activities a...
How the Company Makes Money
null...
Shenzhen Investment Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
46
Neutral
Cash Flow
62
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 40.36B | 15.57B | 15.83B | 31.54B | 32.05B |
| Gross Profit | 6.56B | 4.44B | 5.11B | 10.69B | 12.43B |
| EBITDA | 2.12B | 2.79B | 3.23B | 8.46B | 10.57B |
| Net Income | -4.37B | -1.82B | -261.40M | 2.09B | -2.72B |
Balance Sheet | |||||
| Total Assets | 144.60B | 171.17B | 174.41B | 163.47B | 162.77B |
| Cash, Cash Equivalents and Short-Term Investments | 8.64B | 5.79B | 11.05B | 11.67B | 19.92B |
| Total Debt | 40.95B | 65.12B | 60.96B | 51.40B | 58.76B |
| Total Liabilities | 101.16B | 125.85B | 126.93B | 113.91B | 108.40B |
| Stockholders Equity | 35.64B | 38.55B | 42.34B | 44.63B | 49.17B |
Cash Flow | |||||
| Free Cash Flow | 8.02B | -2.76B | 3.95B | -14.26B | -7.68B |
| Operating Cash Flow | 8.82B | -1.84B | 4.40B | -13.24B | -7.33B |
| Investing Cash Flow | -1.95B | -1.39B | 353.24M | 308.95M | 494.34M |
| Financing Cash Flow | -7.93B | -1.82B | -5.22B | 7.59B | 9.52B |
Shenzhen Investment Technical Analysis
Negative
0.91
Price Trends
0.79
Negative
0.80
Negative
0.84
Negative
Market Momentum
-0.02
Positive
26.66
Positive
23.65
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0604, the sentiment is Negative. The current price of 0.91 is above the 20-day moving average (MA) of 0.76, above the 50-day MA of 0.79, and above the 200-day MA of 0.84, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 26.66 is Positive, neither overbought nor oversold. The STOCH value of 23.65 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0604.
Shenzhen Investment 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% | |
63 Neutral | HK$5.54B | 3.13 | 7.40% | 2.21% | 248.51% | ― | |
53 Neutral | HK$6.23B | -1.43 | -8.73% | 10.98% | 153.96% | -139.55% | |
49 Neutral | HK$6.03B | 46.22 | 0.75% | 5.51% | -19.84% | 1.94% | |
48 Neutral | HK$19.86B | 140.66 | 2.09% | ― | -61.28% | ― | |
46 Neutral | HK$6.46B | -7.44 | 0.73% | 3.32% | -72.38% | -358.63% | |
43 Neutral | HK$6.38B | 25.72 | 0.66% | 0.98% | 20.60% | 22.39% |
* Real Estate Sector Average
HK:0604
Shenzhen Investment
0.70
-0.08
-10.26%
HK:0173
K Wah International Holdings
2.05
0.23
12.45%
HK:0034
Kowloon Development Co
4.62
1.88
68.55%
HK:0119
Poly Property Group Co
1.67
0.26
18.44%
HK:0028
Tian An China Investments Co
3.78
-0.31
-7.60%
HK:1396
Guangdong - Hong Kong Greater Bay Area Holdings Ltd.
12.73
8.95
236.77%
Shenzhen Investment Corporate Events
Shenzhen Investment Shareholders Approve All AGM Resolutions and Debt-to-Equity Swap
Jun 18, 2026
Shenzhen Investment Limited reported that all resolutions at its 18 June 2026 annual general meeting were approved by shareholders via poll, including the adoption of 2025 financial statements, re-election of directors, reappointment of Ernst You...
Shenzhen Investment Sets June 2026 AGM and Seeks Share Buyback Mandate
May 20, 2026
Shenzhen Investment Limited has called its annual general meeting for 18 June 2026 in Hong Kong, where shareholders will review the audited financial statements for the year ended 31 December 2025 along with the directors’ and independent au...
Shenzhen Investment Boosts Traffic and Sales as Flagship Projects Win Top Honors
May 18, 2026
Shenzhen Investment Limited reported that its core commercial projects continued to gain market and industry recognition in the first quarter of 2026, underscoring the strength of its operations in the Greater Bay Area. The Upper Hills complex and...
Shenzhen Investment Unit Uses Property Swap to Offset Shareholder Debt in Connected Deal
May 6, 2026
Shum Yip Group, the controlling shareholder of Shenzhen Investment and a key shareholder in subsidiary Shenye Wansheng, has moved to consolidate its stake by conditionally agreeing to acquire a 35.17% equity interest in Shenye Wansheng from Zhongs...
Shenzhen Investment Hits Record Revenue but Swings to Heavy Loss on Impairments
Mar 30, 2026
Shenzhen Investment posted record revenue of HK$40.4 billion for 2025, up 159% year on year, driven largely by a 275% surge in development sales to HK$34.2 billion and over HK$5.0 billion in revenue from real-estate asset management and integrated...
Shenzhen Investment in RMB2.6 Billion Debt-to-Equity Swap at Key Subsidiary
Mar 30, 2026
Shenzhen Investment has agreed a major debt-to-equity swap under which controlling shareholder Shum Yip Group will convert RMB2.604 billion of loans into equity in subsidiary Shum Yip Pengji. Following the capital increase, Shenzhen Investment wil...
Shenzhen Investment Strengthens Board with Appointment of Finance Veteran as Executive Director
Mar 30, 2026
Shenzhen Investment Limited has appointed veteran finance executive Dr. Xiang Dong as an executive director, effective 30 March 2026, adding deep financial management and auditing experience to its board. Dr. Xiang, a senior accountant with CPA an...
Shenzhen Investment Outlines Board and Committee Composition
Mar 30, 2026
Shenzhen Investment Limited has disclosed the current composition of its board of directors and the structure of its key governance committees. The board consists of four executive directors, chaired by Mr. Wang Yuwen, and three independent non-ex...
Shenzhen Investment Secures RMB 800 Million Loan Tied to State-Backed Shareholder Support
Mar 24, 2026
Shenzhen Investment has entered into a new term loan facility agreement with a bank for up to RMB 800 million, or its equivalent in Hong Kong dollars, with a tenor of up to three years. The financing adds to the group’s funding resources but...
Shenzhen Investment Flags Sharply Wider 2025 Net Loss on Property-Related Hits
Mar 24, 2026
Shenzhen Investment has warned shareholders that it expects to post a substantially wider net loss attributable to equity holders of between HK$4.3 billion and HK$4.5 billion for the year ending 31 December 2025, compared with an audited net loss ...
Shenzhen Investment Secures HK$3.2 Billion Loan Tied to State-Backed Control
Mar 20, 2026
Shenzhen Investment has entered into a HK$3.2 billion three-year term loan facility with a syndicate of banks, adding significant committed funding to its capital structure. The agreement includes covenants tying continued access to the facility t...
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.