Tysan Holdings Limited (0687) AI Stock Analysis

• Market Cap: HK$1.13B
• Dividend Yield: 13.24%
• Average Volume (3M): 324.33K
• Price to Earnings (P/E): 17.5
• Beta (1Y): 0.56
• Revenue Growth: 11.24%
• EPS Growth: 64.66%
• Country: HK
• Employees: 733
• Sector: Industrials
• Sector Strength: 72
• Industry: Engineering & Construction
• EPS (TTM): 0.01
• Shares Outstanding: 3,366,035,600
• 10 Day Avg. Volume: 244,200
• 30 Day Avg. Volume: 324,332
• PEG Ratio: -0.04
• Price to Book (P/B): 0.51
• Price to Sales (P/S): 0.26
• P/FCF Ratio: 2.75
• 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: 60 Neutral
• Price Target: HK$0.50 ▲(51.52% Upside)

Tysan Holdings Limited's overall stock score is driven by a strong valuation due to a high dividend yield and fair P/E ratio. Financial performance is mixed, with strong equity but weak cash flow. Technical analysis shows neutral indicators, suggesting stability with potential for upward movement. The absence of earnings call and corporate events data limits further insights.

Positive Factors

Business Model Diversification

Tysan's diversified revenue model, including construction services, property development, and machinery leasing, provides resilience against sector-specific downturns, ensuring steady income streams and reducing dependency on a single market.

Strong Balance Sheet

A strong balance sheet with high equity and low leverage provides financial stability and flexibility, enabling Tysan to invest in growth opportunities and withstand economic fluctuations.

Improved Profitability

The rebound in profitability, as indicated by a positive net profit margin, suggests operational improvements and effective cost management, positioning Tysan for sustainable growth.

Negative Factors

Declining Revenues

The decline in revenues raises concerns about Tysan's market competitiveness and demand for its services, potentially impacting long-term growth and profitability if not addressed.

Weak Cash Flow

The absence of operating cash flow indicates potential cash management issues, which could limit Tysan's ability to fund operations and invest in growth, affecting financial health.

Low EBIT Margins

Persistently low EBIT margins suggest challenges in operational efficiency and profitability, which could hinder Tysan's ability to generate sufficient returns on its operations over time.

Tysan Holdings Limited Business Overview & Revenue Model

Company Description

Tysan Holdings Limited, an investment holding company, engages in the foundation piling and site investigation, and property development and investment activities in the People's Republic of China. It offers foundation piling services, including bored piling, driven piling, socketed H-piling, mini piling, preboring, pile cap, basement construction, diaphragm wall, and shoring services, as well as undertakes footing, ground investigation field, site formation, demolition, landslip preventive and slope, road and drainage, and minor building works. The company also trades in and leases various tower cranes; develops and invests in various commercial and residential properties; and offers property management services consisting of tenancy management, security, concierge and value-added, fire consultancy and risk assessment, repair and maintenance, cleaning, environmental protection, hygiene and safety management, landscape management, car park management, and clubhouse management services. In addition, it offers property consultancy services; and corporate management, engineering, and machinery hiring and trading services. The company was formerly known as Hong Kong International Construction Investment Management Group Co., Limited and changed its name to Tysan Holdings Limited in August 2019. Tysan Holdings Limited was incorporated in 1991 and is headquartered in Hong Kong, Hong Kong. Tysan Holdings Limited is a subsidiary of Times Holdings II Limited.

How the Company Makes Money

Tysan Holdings generates revenue primarily through its property development and investment activities. The company earns money by developing residential and commercial properties, which are then sold or leased to generate income. Key revenue streams include sales of completed properties, rental income from its investment properties, and fees from construction and project management services. Additionally, Tysan Holdings may engage in joint ventures and partnerships with other developers or investors to expand its project portfolio and share in profits, further contributing to its earnings.

Tysan Holdings Limited Financial Statement Overview

Summary

Tysan Holdings Limited shows mixed financial performance. The income statement indicates improved profitability with a positive net profit margin, but declining revenues and low EBIT margins are concerning. The balance sheet is strong with high equity and low leverage, ensuring financial stability. However, the cash flow situation is weak due to zero operating and free cash flow in 2024, highlighting cash management issues.

Income Statement

Tysan Holdings Limited showed mixed results in its income statement. The gross profit margin improved in recent years, reaching approximately 3.42% in 2024 from 2.34% in 2023, indicating operational improvements. However, the company experienced a significant revenue decline of about 11.12% from 2023 to 2024, which is a concern. The net profit margin turned positive in 2024 at 1.70% after a loss in 2023, showing a rebound in profitability. Despite this, the EBIT margin remains low at 0.45%, suggesting challenges in operational profitability. Overall, while profitability indicators have improved, revenue contraction and low EBIT margins are concerns.

Balance Sheet

The balance sheet of Tysan Holdings Limited reflects a strong equity position with an equity ratio of 64.72% in 2024, highlighting financial stability. The debt-to-equity ratio is low at 0.10, indicating conservative leverage and less risk from debt. Return on equity improved to 3.29% in 2024, marking a positive turnaround from previous losses. However, the company's total assets have decreased over the years, which might impact future growth prospects. Overall, the balance sheet shows strong equity backing and low leverage, but asset reduction poses a potential risk.

Cash Flow

Tysan Holdings Limited's cash flow statements indicate challenges, primarily due to zero reported operating and free cash flow in 2024. Historically, the company had fluctuating cash flows, with positive free cash flow in earlier years. The absence of operating cash flow in 2024 raises concerns about the company's ability to generate cash from its operations. The free cash flow to net income ratio is not calculable for 2024 due to zero values, suggesting potential cash management issues. Overall, the cash flow situation appears weak and needs improvement.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.54B	2.40B	2.70B	2.47B	2.20B	3.05B
Gross Profit	105.28M	82.24M	63.14M	82.05M	82.45M	-62.70M
EBITDA	86.14M	118.51M	80.27M	91.33M	55.93M	-35.18M
Net Income	64.23M	40.79M	-13.04M	4.53M	-107.00K	-104.88M
Balance Sheet
Total Assets	1.86B	1.92B	1.91B	2.13B	2.08B	2.27B
Cash, Cash Equivalents and Short-Term Investments	929.68M	886.61M	747.05M	770.30M	650.89M	706.57M
Total Debt	109.49M	127.65M	141.86M	166.18M	79.87M	73.63M
Total Liabilities	667.73M	676.27M	631.50M	784.96M	665.60M	834.14M
Stockholders Equity	1.19B	1.24B	1.28B	1.34B	1.42B	1.43B
Cash Flow
Free Cash Flow	375.69M	228.07M	48.11M	122.25M	-9.32M	30.89M
Operating Cash Flow	389.79M	254.99M	119.69M	170.48M	25.07M	105.56M
Investing Cash Flow	169.65M	35.66M	-137.39M	-139.66M	-28.63M	288.55M
Financing Cash Flow	-154.98M	-126.70M	-92.25M	-891.00K	-52.76M	-2.60B

Tysan Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.33
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0687, the sentiment is Positive. The current price of 0.33 is below the 20-day moving average (MA) of 0.34, above the 50-day MA of 0.33, and above the 200-day MA of 0.27, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 57.43 is Neutral, neither overbought nor oversold. The STOCH value of 100.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0687.

Tysan Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
0687	60 Neutral	HK$1.13B	17.54	5.28%	13.24%	11.24%	64.66%
1662	60 Neutral	HK$813.70M	16.76	8.67%	―	-16.13%	5.48%
1727	60 Neutral	HK$678.13M	4.24	2.36%	―	-25.78%	-18.64%
3928	50 Neutral	HK$4.30B	-792.04	-2.26%	―	34.69%	41.09%
1780	48 Neutral	HK$421.60M	-45.03	-5.65%	5.26%	-55.42%	-281.93%
0711	45 Neutral	HK$792.24M	15.52	2.28%	1.93%	0.97%	―

Tysan Holdings Limited Corporate Events

Tysan Holdings Sets 2026 Board and Committee Line-up to Sharpen Governance

Tysan Holdings Limited, a Bermuda-incorporated company listed in Hong Kong, is primarily engaged in construction and property-related activities, including foundation and civil engineering services that support infrastructure and real estate development in its core markets. The company has announced the composition of its board of directors and key board committees effective 1 January 2026, confirming Justin Wai as non-executive chairman, Victor Fung as vice chairman and executive director, alongside a slate of executive, non-executive and independent non-executive directors. The updated structure sets out detailed memberships and chairmanships of the audit, nomination and remuneration committees, signaling a clear governance framework and division of oversight responsibilities that may strengthen corporate governance practices and provide greater transparency for shareholders and other stakeholders.

The most recent analyst rating on (HK:0687) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Tysan Holdings Limited stock, see the HK:0687 Stock Forecast page.

Tysan Holdings Limited Enters New Master Agreement for Continued Construction Collaborations

Tysan Holdings Limited has entered into a New Master Agreement with Mr. Victor Fung, facilitating continuing connected transactions involving subcontracting foundation, building, and EM works between the two parties. This agreement, effective from December 16, 2025, aims to streamline operations and maintain business continuity beyond the expiration of the previous agreement, impacting the company’s operational efficiency and stakeholder interests positively.

The most recent analyst rating on (HK:0687) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Tysan Holdings Limited stock, see the HK:0687 Stock Forecast page.

Tysan Holdings Limited Updates Nomination Committee Terms

Tysan Holdings Limited has updated the terms of reference for its Nomination Committee, which was initially established in 2012. The committee’s primary role is to oversee the nomination of directors, ensuring a diverse and independent board composition. The updated terms, effective from December 2025, emphasize the inclusion of independent non-executive directors and gender diversity within the committee. This move is likely to enhance the governance framework of the company, potentially improving its market perception and stakeholder confidence.

The most recent analyst rating on (HK:0687) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Tysan Holdings Limited stock, see the HK:0687 Stock Forecast page.

Tysan Holdings Limited Updates Remuneration Committee Terms

Tysan Holdings Limited has updated the terms of reference for its Remuneration Committee, initially established in 2005, with the latest revisions effective from December 2025. The committee, which consists of at least three members primarily composed of independent non-executive directors, is responsible for overseeing remuneration policies and practices. This update reflects the company’s ongoing commitment to robust governance practices, potentially impacting its operational transparency and stakeholder confidence.

The most recent analyst rating on (HK:0687) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Tysan Holdings Limited stock, see the HK:0687 Stock Forecast page.