Thelloy Development Group Limited (HK:1546)
:1546
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Thelloy Development Group Limited
(1546)
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Rating:48Neutral
Price Target:
HK$0.26
▲(336.67% Upside)
Action:ReiteratedDate:03/24/26
The score is held down primarily by weak financial performance—margin collapse, a swing to net losses, rising leverage, and deeply negative operating/free cash flow. Technicals are comparatively supportive with the price above major moving averages, but mixed momentum indicators and a loss-driven (negative) P/E keep the overall rating below average.
Positive Factors
Strong recent revenue growth
Sustained top-line expansion in FY2025 indicates demand for the company’s services and provides a base to restore margins. Persistent revenue momentum supports scale benefits, backlog conversion and recovery planning, giving management time to improve pricing and cost structure.
Negative Factors
Margin collapse and loss-making
Sharp margin deterioration and a swing to a sizable net loss indicate structural profitability issues: revenue is not converting to sustainable earnings. Long-term recovery requires durable margin improvements via pricing power, cost cuts or a better project mix.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong recent revenue growth
Sustained top-line expansion in FY2025 indicates demand for the company’s services and provides a base to restore margins. Persistent revenue momentum supports scale benefits, backlog conversion and recovery planning, giving management time to improve pricing and cost structure.
Read all positive factors
Thelloy Development Group Limited (1546) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$212.00M
Dividend YieldN/A
Average Volume (3M)148.80K
Price to Earnings (P/E)―
Beta (1Y)-0.16
Revenue Growth54.20%
EPS Growth-833.33%
CountryHK
Employees155
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)-0.02
Shares Outstanding800,000,000
10 Day Avg. Volume10,400
30 Day Avg. Volume148,800
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.37
Price to Sales (P/S)0.11
P/FCF Ratio-0.68
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
Thelloy Development Group Limited Business Overview & Revenue Model
Company Description
Thelloy Development Group Limited, an investment holding company, provides construction and management services primarily in Hong Kong. The company also offers building construction, repair, maintenance, alteration, and addition work services; and...
How the Company Makes Money
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Thelloy Development Group Limited Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
34
Negative
Cash Flow
22
Negative
| Breakdown | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 400.17M | 257.99M | 259.14M | 204.34M | 151.83M |
| Gross Profit | 8.27M | 30.23M | 46.31M | 39.84M | 19.51M |
| EBITDA | -36.07M | 4.57M | 25.32M | 12.35M | 3.54M |
| Net Income | -51.36M | 8.28M | 12.66M | 4.26M | 21.12M |
Balance Sheet | |||||
| Total Assets | 399.78M | 352.85M | 341.27M | 272.35M | 276.54M |
| Cash, Cash Equivalents and Short-Term Investments | 31.38M | 32.07M | 66.03M | 56.56M | 91.30M |
| Total Debt | 155.79M | 73.82M | 65.39M | 23.07M | 31.91M |
| Total Liabilities | 281.46M | 183.17M | 179.87M | 123.61M | 132.07M |
| Stockholders Equity | 118.32M | 169.68M | 161.40M | 148.74M | 144.47M |
Cash Flow | |||||
| Free Cash Flow | -64.64M | -16.67M | -25.84M | -7.36M | 81.41M |
| Operating Cash Flow | -63.83M | -5.27M | -20.50M | -2.90M | 81.62M |
| Investing Cash Flow | -10.29M | -32.36M | -8.85M | -13.05M | -73.20M |
| Financing Cash Flow | 73.44M | 3.68M | 38.82M | -18.80M | 28.01M |
Thelloy Development Group Limited Technical Analysis
Positive
0.06
Price Trends
0.26
Positive
0.18
Positive
0.12
Positive
Market Momentum
0.01
Negative
52.59
Neutral
27.26
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1546, the sentiment is Positive. The current price of 0.06 is below the 20-day moving average (MA) of 0.24, below the 50-day MA of 0.26, and below the 200-day MA of 0.12, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 52.59 is Neutral, neither overbought nor oversold. The STOCH value of 27.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1546.
Thelloy Development Group Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
55 Neutral | HK$181.50M | 23.50 | -16.01% | ― | -28.21% | 34.59% | |
54 Neutral | HK$120.00M | 4.72 | 0.18% | ― | -2.05% | ― | |
48 Neutral | HK$212.00M | -0.77 | -48.75% | ― | 54.20% | -833.33% | |
47 Neutral | HK$184.80M | -2.34 | 310.17% | ― | -52.58% | 69.44% | |
44 Neutral | HK$255.74M | -7.35 | 13.76% | ― | 11.52% | 98.72% | |
41 Neutral | HK$94.24M | -0.64 | -157.68% | ― | 8.35% | 80.91% |
* Industrials Sector Average
HK:1546
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Thelloy Development Group Limited Corporate Events
Thelloy Sends Composite Document as Mandatory Cash Offer by World Nexus Begins
Mar 20, 2026
World Nexus Holdings Limited has launched a mandatory unconditional cash offer for all issued shares of Thelloy Development Group Limited that it does not already own or has agreed to acquire, with Lego Securities Limited acting as the offerorR...
Thelloy Updates Market on Timeline for Mandatory Takeover Offer Document
Mar 12, 2026
World Nexus Holdings Limited and Thelloy Development Group Limited issued a monthly update on the progress of a mandatory unconditional cash offer for all issued shares of Thelloy not already owned by the offeror and its concert parties. The parti...
Thelloy Reshapes Independent Board Committee Amid Potential Conflict Over Offer
Mar 12, 2026
Thelloy Development Group Limited, a Cayman Islands-incorporated construction and development services company listed on the Hong Kong Stock Exchange, operates under a board structure that includes executive and independent non-executive directors...
World Nexus Takes Control of Thelloy Development, Triggers Mandatory Cash Offer
Feb 12, 2026
World Nexus Holdings Limited has completed the acquisition of 500,800,000 shares in Thelloy Development Group Limited for HK$95.15 million, paying HK$0.19 per share and securing a 62.6% controlling interest in the Hong Kong-listed firm. Before thi...
Thelloy Appoints Joint Independent Advisers for Potential Mandatory Cash Offer
Feb 6, 2026
Thelloy Development Group Limited has appointed Cinda International Capital Limited and Rainbow Capital (HK) Limited as joint independent financial advisers to evaluate a potential mandatory unconditional cash offer for all its issued shares not a...
World Nexus Moves to Take Control of Thelloy Development Group With Mandatory Cash Offer Triggered
Jan 28, 2026
World Nexus Holdings Limited has entered into a conditional sale and purchase agreement to acquire 500,800,000 shares of Thelloy Development Group Limited, representing 62.6% of the company’s issued share capital, at a total consideration of...
Thelloy Development Halts Trading Pending Takeovers-Related Inside Information
Jan 23, 2026
Thelloy Development Group Limited, a Cayman-incorporated company listed on the Hong Kong Stock Exchange under stock code 1546, has announced a halt in trading of its securities effective from 9:00 a.m. on 23 January 2026, pending the release of pr...
Thelloy’s Controlling Shareholder in Early Talks Over Potential Stake Sale
Jan 16, 2026
Thelloy Development Group has disclosed that its controlling shareholder, Cheers Mate Holding Limited, has been approached by independent third parties regarding a possible transfer of part of its 72.5% stake in the company, a move that could trig...
Thelloy Development Halts Trading Pending Inside-Information Announcement
Jan 15, 2026
Thelloy Development Group Limited has requested a halt in trading of its shares on the Hong Kong Stock Exchange, effective from 1:46 p.m. on 15 January 2026, pending the release of an announcement containing inside information. The move is being m...
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.