Shenzhen Investment Limited (HK:0604)
:0604
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Shenzhen Investment
(0604)
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Rating:53Neutral
Price Target:
HK$0.83
▼(-8.57% 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 swing to positive operating and free cash flow in 2025 provides durable liquidity and reduces short-term refinancing pressure. Consistent cash generation supports working-capital needs, funds project completion and deleveraging, and increases resilience to cyclical real estate slowdowns.
Negative Factors
Widening net losses
Larger recurring net losses erode equity and constrain the company’s ability to reinvest in projects or return capital. Persistent negative profitability increases dependence on external financing, raises refinancing risk if cash flow weakens, and undermines long-term return prospects for shareholders.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved cash generation
The sharp swing to positive operating and free cash flow in 2025 provides durable liquidity and reduces short-term refinancing pressure. Consistent cash generation supports working-capital needs, funds project completion and deleveraging, and increases resilience to cyclical real estate slowdowns.
Read all positive factors
Shenzhen Investment (0604) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$7.21B
Dividend Yield10.98%
Average Volume (3M)19.76M
Price to Earnings (P/E)―
Beta (1Y)1.37
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
Shenzhen Investment Limited, together with its subsidiaries, invests in, develops, and manages real estate properties in Mainland China. It operates through five segments: Property Development, Property Investment, Property Management, Manufacture...
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
Positive
0.82
Negative
0.85
Negative
Market Momentum
<0.01
Positive
41.09
Neutral
5.34
Positive
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 0.82, above the 50-day MA of 0.79, and above the 200-day MA of 0.85, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 41.09 is Neutral, neither overbought nor oversold. The STOCH value of 5.34 is Positive, 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$6.01B | 3.81 | 7.40% | 2.21% | 248.51% | ― | |
53 Neutral | HK$7.21B | -1.61 | -8.73% | 10.98% | 153.96% | -139.55% | |
50 Neutral | HK$8.41B | 100.00 | 0.66% | 0.98% | 20.60% | 22.39% | |
49 Neutral | HK$6.53B | 42.92 | 0.75% | 5.51% | -19.84% | 1.94% | |
48 Neutral | HK$21.63B | 65.29 | 2.09% | ― | -61.28% | ― | |
46 Neutral | HK$7.13B | -1.68 | 0.73% | 3.32% | -72.38% | -358.63% |
* Real Estate Sector Average
HK:0604
Shenzhen Investment
0.79
0.04
5.33%
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Tian An China Investments Co
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Guangdong - Hong Kong Greater Bay Area Holdings Ltd.
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621.43%
Shenzhen Investment Corporate Events
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...
Shenzhen Investment Sets Board Meeting to Approve 2025 Results and Consider Dividend
Mar 19, 2026
Shenzhen Investment has scheduled a board meeting for 30 March 2026 to review and approve the audited annual results for the year ended 31 December 2025, along with their publication. The board will also consider whether to recommend a final divid...
Shenzhen Investment Details Profit Guarantee in Jinghua Electronics Disposal
Feb 27, 2026
Shenzhen Investment has issued supplemental details on the connected transaction involving the disposal of a 70% equity interest in Jinghua Electronics by its wholly owned subsidiary Shum Yip Pengji to Shahe Industrial, a Shenzhen-listed, real est...
Shenzhen Investment to Sell 70% Stake in Jinghua Electronics for RMB274 Million in Connected Deal
Feb 6, 2026
Shenzhen Investment’s wholly owned subsidiary Shum Yip Pengji has agreed to dispose of its 70% equity interest in Jinghua Electronics to connected party Shahe Industrial for RMB273.75 million in cash, a price based on an independently apprai...
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.