Road King Infrastructure Limited (HK:1098)
:1098
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Road King Infrastructure
(1098)
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Rating:41Neutral
Price Target:
HK$0.60
▼(-10.15% Downside)
Action:Reiterated
Date:05/03/26
The score is held down primarily by deteriorating financial performance—deepening losses, rising leverage, and a return to negative operating/free cash flow in 2025. Technicals add pressure with the stock trading below key moving averages and negative MACD, while valuation is constrained by negative earnings and no dividend yield data.
Positive Factors
Prior strong cash generation (2023–24)
The company produced positive operating and free cash flow in 2023–2024, demonstrating historical ability to convert operations into cash. That track record supports creditor and supplier confidence, gives management a precedent for restoring cash generation, and is a durable indicator of operational cash-conversion capacity if margins recover.
Negative Factors
Deepening losses and negative gross profit
Negative gross profit and net losses larger than revenue in 2025 indicate the core business is operating below breakeven on a unit basis. This structural unprofitability undermines margin recovery prospects, requires substantive remediation of pricing or cost structure, and threatens long-term viability absent durable operational improvements.
Read all positive and negative factors
Positive Factors
Negative Factors
Prior strong cash generation (2023–24)
The company produced positive operating and free cash flow in 2023–2024, demonstrating historical ability to convert operations into cash. That track record supports creditor and supplier confidence, gives management a precedent for restoring cash generation, and is a durable indicator of operational cash-conversion capacity if margins recover.
Read all positive factors
Road King Infrastructure (1098) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$472.08M
Dividend YieldN/A
Average Volume (3M)118.28K
Price to Earnings (P/E)―
Beta (1Y)1.45
Revenue Growth-3.88%
EPS Growth-45.12%
CountryHK
Employees3,516
SectorReal Estate
Sector Strength53
IndustryResidential Construction
Share Statistics
EPS (TTM)-7.98
Shares Outstanding749,336,550
10 Day Avg. Volume117,100
30 Day Avg. Volume118,283
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.08
Price to Sales (P/S)0.08
P/FCF Ratio-0.90
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
Road King Infrastructure Business Overview & Revenue Model
Company Description
Road King Infrastructure Limited, an investment holding company, invests in, develops, operates, and manages property projects and toll roads in the People's Republic of China. It operates through Property Development and Investment, Toll Road, an...
Road King Infrastructure Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
24
Negative
Cash Flow
30
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 5.32B | 5.54B | 13.08B | 17.16B | 24.68B |
| Gross Profit | -2.35B | -1.73B | -647.99M | 2.94B | 5.40B |
| EBITDA | -3.11B | -2.58B | -2.50B | 1.18B | 4.17B |
| Net Income | -5.44B | -3.58B | -3.43B | 41.53M | 1.56B |
Balance Sheet | |||||
| Total Assets | 45.15B | 57.51B | 73.15B | 90.00B | 108.24B |
| Cash, Cash Equivalents and Short-Term Investments | 2.60B | 4.27B | 5.48B | 8.26B | 12.60B |
| Total Debt | 22.80B | 16.24B | 23.65B | 40.06B | 46.89B |
| Total Liabilities | 37.79B | 36.61B | 45.95B | 64.20B | 79.39B |
| Stockholders Equity | 5.32B | 17.94B | 22.66B | 27.21B | 22.34B |
Cash Flow | |||||
| Free Cash Flow | -497.50M | 2.03B | 2.54B | 725.03M | 4.84B |
| Operating Cash Flow | -492.58M | 2.05B | 2.56B | 738.37M | 4.88B |
| Investing Cash Flow | 1.83B | 4.66B | 2.94B | 1.50B | -6.43B |
| Financing Cash Flow | -2.37B | -7.99B | -8.16B | -7.08B | -286.20M |
Road King Infrastructure Technical Analysis
Negative
0.67
Price Trends
0.64
Negative
0.66
Negative
0.69
Negative
Market Momentum
>-0.01
Positive
41.67
Neutral
16.67
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1098, the sentiment is Negative. The current price of 0.67 is above the 20-day moving average (MA) of 0.64, above the 50-day MA of 0.64, and below the 200-day MA of 0.69, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 41.67 is Neutral, neither overbought nor oversold. The STOCH value of 16.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1098.
Road King Infrastructure 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% | |
62 Neutral | HK$124.62B | 3.92 | 16.76% | 5.62% | -2.05% | 96.13% | |
60 Neutral | HK$157.08M | -334.37 | -4.12% | ― | 2.28% | -166.67% | |
51 Neutral | HK$1.90B | -3.94 | -2.11% | 9.27% | -5.49% | -283.38% | |
46 Neutral | HK$1.24B | -0.21 | -11.79% | ― | -11.80% | -102.27% | |
45 Neutral | HK$6.14B | -130.30 | -10.08% | ― | 83.20% | 91.02% | |
41 Neutral | HK$472.08M | -0.08 | -44.01% | ― | -3.88% | -45.12% |
* Real Estate Sector Average
HK:1098
Road King Infrastructure
0.63
-0.18
-22.22%
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1.00
55.78%
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0.44
-0.14
-24.14%
HK:0488
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0.85
0.32
60.38%
HK:1426
Spring Real Estate Investment
1.30
-0.29
-18.08%
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China Supply Chain Holdings Limited
0.23
0.07
46.25%
Road King Infrastructure Corporate Events
Road King Sets 2026 AGM to Re-elect Directors, Change Auditor and Expand Share Issue Mandate
Apr 28, 2026
Road King Infrastructure has called its 2026 annual general meeting for 22 May in Hong Kong, where shareholders will review the audited financial statements for the year ended 31 December 2025 and the accompanying reports from the board and indepe...
Road King Plans Auditor Rotation, Nominates Crowe to Replace Deloitte
Apr 23, 2026
Road King Infrastructure has announced a planned rotation of its external auditor, with Deloitte Touche Tohmatsu set to retire at the conclusion of the 22 May 2026 annual general meeting after serving as the company’s auditor since 1996. The...
Road King Sells Shanghai Property Subsidiary Stake for RMB116.4 Million
Apr 21, 2026
Road King Infrastructure has agreed to dispose of its entire 65% stake in Shanghai Junxin Property Co., Ltd., alongside a co-vendor’s 15% interest, for a total of about RMB116.4 million, of which RMB94.4 million is attributable to the group....
Road King Widens 2025 Loss as Property Sales Slump and Costs Climb
Mar 26, 2026
Road King Infrastructure reported a sharp deterioration in its 2025 results, with property sales plunging to RMB7,390 million from RMB12,462 million and property deliveries dropping to RMB11,604 million from RMB31,592 million, underscoring sustain...
Road King Flags Sharply Wider 2025 Loss on Prolonged Property Slump
Mar 19, 2026
Road King Infrastructure has warned that it expects to post a significantly wider net loss for the year ended 31 December 2025, projecting a group net loss of HK$5.2 billion to HK$5.5 billion and a loss attributable to shareholders of HK$5.8 billi...
Road King Wins More Time as Court Adjourns Winding-Up Bid for Key Subsidiary
Mar 17, 2026
Road King Infrastructure has disclosed that the British Virgin Islands court has further adjourned the hearing of a winding-up application and a related provisional liquidator request against its wholly owned subsidiary New Select Global Limited, ...
Road King Secures In‑Principle Deal on Offshore Debt Restructuring
Mar 16, 2026
Road King Infrastructure has reached an in-principle agreement with a significant proportion of its offshore creditors on a revised restructuring plan for its in-scope debt. The proposal follows months of negotiations between the company and an ad...
Road King Infrastructure Sets Board Meeting to Approve 2025 Annual Results
Mar 13, 2026
Road King Infrastructure Limited has scheduled a board meeting for 26 March 2026 in Hong Kong, at which directors will review and approve the annual results for the financial year ended 31 December 2025. The meeting marks a key step in finalizing ...
Road King Subsidiary’s Winding-Up Hearing Adjourned to March
Feb 20, 2026
Road King Infrastructure has announced that a winding-up application against its wholly owned subsidiary, New Select Global Limited, filed in the British Virgin Islands, has been adjourned. The case has been rescheduled to 16 March 2026, when it w...
Road King Posts RMB7.39 Billion in 2025 Property Sales and Strong Toll Revenue
Feb 11, 2026
Road King Infrastructure reported unaudited contracted sales of RMB7,052 million for 2025, with additional outstanding subscribed sales of RMB338 million bringing total property sales to RMB7,390 million for the year. The company also recorded tol...
Road King Unit Again Defers Coupon on 7.95% Perpetual Securities
Feb 6, 2026
RKP Overseas Finance 2016 (A) Limited, an offshore financing vehicle of Road King Infrastructure Limited, has again elected to defer in full the distribution and accumulated arrears on its 7.95% senior guaranteed perpetual capital securities that ...
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.