Midland Holdings Limited (1200) AI Stock Analysis

• Market Cap: HK$1.51B
• Dividend Yield: N/A
• Average Volume (3M): 2.78M
• Price to Earnings (P/E): 5.1
• Beta (1Y): 1.10
• Revenue Growth: 9.76%
• EPS Growth: 219.80%
• Country: HK
• Employees: 4,593
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Services
• EPS (TTM): 0.21
• Shares Outstanding: 716,896,000
• 10 Day Avg. Volume: 2,119,192
• 30 Day Avg. Volume: 2,776,503
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.61
• Price to Sales (P/S): 0.10
• P/FCF Ratio: 0.95
• 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: HK$3.01
• Price Target Upside: 34.98% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 73 Outperform
• Price Target: HK$2.50 ▲(12.11% Upside)

The stock's strong technical indicators and undervaluation are the most significant factors driving the score. While financial performance shows positive trends, the risks associated with high liabilities and inconsistent cash flow growth temper the overall outlook.

Midland Holdings Limited Business Overview & Revenue Model

Company Description

Midland Holdings Limited (1200) is a prominent investment holding company based in Hong Kong, primarily engaged in the property development and investment sectors. The company has a diversified portfolio that includes residential, commercial, and industrial properties, with a strong focus on the growing real estate market in Asia. Midland Holdings also provides property management services and operates a real estate agency, catering to a wide range of clients looking for property solutions.

How the Company Makes Money

Midland Holdings generates revenue primarily through its real estate transactions, including property sales and rentals. The company profits from property development by acquiring land, developing residential and commercial properties, and then selling or leasing them to consumers and businesses. Additionally, the company's real estate agency services contribute significantly to its earnings, as it earns commissions from property sales and leasing agreements. The company also benefits from property management fees charged to property owners for managing their assets. Strategic partnerships with other developers and financial institutions further enhance its revenue stream by facilitating access to capital and joint ventures in large-scale projects.

Midland Holdings Limited Financial Statement Overview

Summary

Midland Holdings Limited demonstrates strong revenue growth and improved gross profit margins, indicating better operational efficiency. However, volatility in net profit margins and inconsistent cash flow growth could pose challenges. The company has improved its balance sheet leverage, yet high liabilities remain a risk.

Income Statement

The company has shown strong revenue growth with a significant increase from 2023 to 2024. Gross profit margins improved notably over the years, indicating better cost management. However, the net profit margin has been volatile, with some years showing losses, which could pose a risk to long-term profitability.

Balance Sheet

The debt-to-equity ratio has improved over the years, indicating better financial leverage management. The equity ratio remains stable, suggesting a solid equity base, but the overall high liabilities pose a risk. Return on equity has been inconsistent, reflecting fluctuations in profitability.

Cash Flow

Free cash flow has been positive, although growth has been inconsistent. The ratio of operating cash flow to net income has been favorable, indicating efficient cash generation relative to earnings. However, zero free cash flow reported in 2024 suggests potential cash flow management issues.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	5.29B	6.09B	4.08B	3.12B	6.00B	4.98B
Gross Profit	5.29B	6.09B	4.08B	-285.16M	555.17M	318.55M
EBITDA	407.03M	447.13M	475.82M	78.78M	779.78M	812.20M
Net Income	297.65M	320.32M	-41.92M	-533.97M	100.21M	131.85M
Balance Sheet
Total Assets	4.42B	4.71B	3.57B	3.83B	6.35B	5.03B
Cash, Cash Equivalents and Short-Term Investments	722.16M	711.13M	532.15M	450.67M	1.51B	940.61M
Total Debt	263.48M	222.74M	456.84M	768.26M	1.53B	897.87M
Total Liabilities	3.28B	3.71B	2.91B	3.14B	5.17B	3.94B
Stockholders Equity	1.14B	993.71M	657.19M	684.25M	1.19B	1.09B
Cash Flow
Free Cash Flow	688.21M	636.20M	523.21M	45.98M	702.35M	634.44M
Operating Cash Flow	698.29M	644.60M	543.60M	103.32M	767.69M	694.49M
Investing Cash Flow	-9.91M	-2.51M	54.66M	-53.99M	-60.34M	-59.17M
Financing Cash Flow	-632.13M	-462.30M	-512.50M	-1.10B	-142.25M	-856.94M

Midland Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.23
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1200, the sentiment is Positive. The current price of 2.23 is above the 20-day moving average (MA) of 2.09, above the 50-day MA of 2.03, and above the 200-day MA of 1.37, indicating a bullish trend. The MACD of 0.06 indicates Negative momentum. The RSI at 61.46 is Neutral, neither overbought nor oversold. The STOCH value of 58.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1200.

Midland Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
1502	74 Outperform	HK$836.64M	7.03	8.63%	7.55%	16.65%	-8.74%
2270	73 Outperform	HK$1.98B	50.71	11.60%	―	21.08%	-18.26%
1200	73 Outperform	HK$1.51B	5.06	30.03%	―	9.76%	219.80%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
2215	58 Neutral	HK$468.12M	13.71	4.11%	―	-7.17%	-22.01%
0237	50 Neutral	HK$810.00M	―	-7.11%	4.00%	0.15%	-116.51%
0266	50 Neutral	HK$968.45M	―	-7.76%	7.04%	0.09%	-266.18%

Midland Holdings Limited Corporate Events

Midland Holdings Renews Tenancy and Licence Agreement

Midland Holdings Limited has entered into a new Tenancy and Licence Framework Agreement with Mr. WONG, the company’s Chairman and a significant shareholder, to renew the previous agreement set to expire in September 2025. This agreement outlines the terms for property leasing and licensing between the company’s group members and Mr. WONG’s associated entities, ensuring continued operations under specified conditions for the next three years. The agreement is classified as a continuing connected transaction under Hong Kong’s Listing Rules, subject to certain reporting and review requirements.

Midland Holdings Reports Interim Results Amid Revenue Decline

Midland Holdings Limited reported its unaudited consolidated interim results for the six months ending June 30, 2025, showing a decrease in revenue from HK$3,318,795,000 in 2024 to HK$2,517,917,000 in 2025. Despite the revenue drop, the company maintained profitability with a profit attributable to equity holders of HK$151,390,000, although this was lower than the previous year’s HK$174,067,000. The results reflect challenges in the real estate market but also demonstrate the company’s ability to sustain operations and deliver shareholder value.

Midland Holdings to Review Interim Results and Dividend

Midland Holdings Limited has announced that its Board of Directors will meet on August 21, 2025, to approve the interim results for the first half of the year and consider the payment of an interim dividend. This meeting is significant as it will provide insights into the company’s financial health and potential shareholder returns, impacting stakeholders’ expectations and the company’s market positioning.