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Golden Wheel Tiandi Holdings Co. Ltd.
(1232)
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Rating:42Neutral
Price Target:
HK$0.35
▼(-25.53% Downside)
Action:Reiterated
Date:07/03/26
The score is held down primarily by very weak financial performance—persistent losses, contracting revenue, and a highly stressed balance sheet with negative equity. Technicals add only modest support due to neutral momentum despite the price trading below key moving averages. Valuation provides little offset given the negative P/E and lack of dividend yield data.
Positive Factors
Deleveraging trend
A multi-year decline in total debt reduces near-term refinancing pressure and interest burden, improving financial flexibility. Sustained deleveraging helps the firm withstand real estate cycles and gives management more optionality to fund projects or restructure without immediate external capital raises.
Negative Factors
Negative equity / stressed balance sheet
Persistently negative shareholders' equity is a structural solvency concern that limits borrowing capacity and raises bankruptcy/refinancing risk. It makes leverage ratios meaningless, increases sensitivity to asset revaluations, and may force dilutive capital raises or asset sales to restore balance-sheet health.
Read all positive and negative factors
Positive Factors
Negative Factors
Deleveraging trend
A multi-year decline in total debt reduces near-term refinancing pressure and interest burden, improving financial flexibility. Sustained deleveraging helps the firm withstand real estate cycles and gives management more optionality to fund projects or restructure without immediate external capital raises.
Read all positive factors
Golden Wheel Tiandi Holdings Co. Ltd. (1232) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$73.65M
Dividend YieldN/A
Average Volume (3M)1.44K
Price to Earnings (P/E)―
Beta (1Y)0.80
Revenue Growth-43.14%
EPS Growth28.88%
CountryHK
Employees578
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)-2.65
Shares Outstanding210,421,510
10 Day Avg. Volume1,200
30 Day Avg. Volume1,440
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)-0.09
Price to Sales (P/S)0.13
P/FCF Ratio0.66
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
Golden Wheel Tiandi Holdings Co. Ltd. Business Overview & Revenue Model
Company Description
Golden Wheel Tiandi Holdings Company Limited operates as an investment holding firm, primarily focusing on developing commercial and residential real estate throughout Mainland China and Hong Kong. The company's business activities are structured ...
How the Company Makes Money
Golden Wheel Tiandi Holdings Co. Ltd. primarily makes money through (1) property development revenue: proceeds from the sale of developed properties and related income recognized when projects are completed and delivered (exact recognition policy ...
Golden Wheel Tiandi Holdings Co. Ltd. Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
9
Very Negative
Cash Flow
28
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 452.68M | 796.38M | 2.39B | 2.66B | 1.78B |
| Gross Profit | 146.66M | 154.03M | 71.35M | -132.01M | -27.53M |
| EBITDA | -7.34M | -649.23M | -476.72M | -556.28M | -1.78B |
| Net Income | -584.29M | -823.94M | -1.04B | -1.05B | -1.99B |
Balance Sheet | |||||
| Total Assets | 7.46B | 8.12B | 10.00B | 12.31B | 13.84B |
| Cash, Cash Equivalents and Short-Term Investments | 81.85M | 97.88M | 209.26M | 193.22M | 346.91M |
| Total Debt | 705.83M | 4.19B | 4.48B | 5.35B | 5.24B |
| Total Liabilities | 7.86B | 7.93B | 9.03B | 10.38B | 10.91B |
| Stockholders Equity | -675.10M | -93.40M | 733.00M | 1.79B | 2.84B |
Cash Flow | |||||
| Free Cash Flow | 90.52M | -27.23M | 382.78M | -193.73M | 940.79M |
| Operating Cash Flow | 90.53M | -15.54M | 382.91M | -193.62M | 1.02B |
| Investing Cash Flow | 10.98M | 15.40M | 6.36M | 587.03M | 206.96M |
| Financing Cash Flow | -139.63M | -111.41M | -373.48M | -549.14M | -1.73B |
Golden Wheel Tiandi Holdings Co. Ltd. Technical Analysis
Negative
0.47
Price Trends
0.44
Negative
0.40
Negative
0.45
Negative
Market Momentum
>-0.01
Positive
38.28
Neutral
21.55
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1232, the sentiment is Negative. The current price of 0.47 is below the 20-day moving average (MA) of 0.49, above the 50-day MA of 0.44, and above the 200-day MA of 0.45, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 38.28 is Neutral, neither overbought nor oversold. The STOCH value of 21.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1232.
Golden Wheel Tiandi Holdings Co. Ltd. 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% | |
50 Neutral | HK$49.75M | -0.10 | -39.03% | ― | -14.20% | -25.42% | |
42 Neutral | HK$73.65M | -0.12 | ― | ― | -43.14% | 28.88% | |
41 Neutral | HK$45.53M | -0.64 | -61.82% | ― | -10.56% | 91.75% | |
40 Underperform | HK$56.78M | >-0.01 | 77.11% | ― | -70.62% | -155.99% |
* Real Estate Sector Average
HK:1232
Golden Wheel Tiandi Holdings Co. Ltd.
0.35
-0.44
-55.70%
HK:1124
Coastal Greenland Limited
0.13
-0.01
-7.41%
HK:6158
Zhenro Properties Group Limited
0.01
-0.03
-68.29%
HK:0845
Glorious Property Holdings Limited
0.01
0.00
0.00%
HK:0755
Shanghai Zendai Property Ltd.
0.23
-0.23
-49.68%
HK:0910
China Sandi Holdings Ltd.
0.01
0.00
0.00%
Golden Wheel Tiandi Holdings Co. Ltd. Corporate Events
Golden Wheel Tiandi Finalises Offshore Debt Restructuring With New Notes and Shares
Jun 26, 2026
Golden Wheel Tiandi Holdings Company Limited has completed the restructuring of its offshore debt, announcing that all conditions have been satisfied and the restructuring became effective on 26 June 2026. The move finalises a process triggered by...
Golden Wheel Tiandi Sets Expected Effective Date for Debt Restructuring
Jun 24, 2026
Golden Wheel Tiandi Holdings Company Limited has provided an update on its ongoing debt restructuring of existing senior notes, including the 10.0% notes due 2025, confirming it has progressed toward meeting the agreed conditions. The company anti...
Golden Wheel Tiandi Wins Strong Shareholder Backing at 2026 AGM
May 21, 2026
Golden Wheel Tiandi Holdings Company Limited reported that all resolutions at its annual general meeting on 21 May 2026 were approved by shareholders via poll. The meeting saw near-unanimous support for the adoption of the 2025 audited financial s...
Golden Wheel Tiandi Sets 2026 AGM and Seeks Fresh Share Issuance Mandate
Apr 27, 2026
Golden Wheel Tiandi Holdings Company Limited has convened its annual general meeting for 21 May 2026 in Hong Kong, where shareholders will review and adopt the audited consolidated financial statements, directors’ report and auditor’s ...
Golden Wheel Tiandi Proposes Overhaul of Corporate Constitution to Embrace Paperless Market
Apr 24, 2026
Golden Wheel Tiandi Holdings Company Limited, a Cayman-incorporated property developer listed in Hong Kong under stock code 1232, is overseen by a mixed board of executive, non-executive and independent non-executive directors. The group focuses o...
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.