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Lap Kei Engineering (Holdings) Limited
(1690)
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Rating:68Neutral
Price Target:
HK$0.13
▲(84.29% Upside)
Action:Downgraded
Date:06/25/26
The score is driven primarily by solid financial fundamentals—especially the zero-debt balance sheet and improved 2025 profitability—combined with attractive valuation (low P/E and very high dividend yield). These positives are tempered by weak technical momentum (price below key moving averages with negative MACD) and business volatility signals, including the sharp 2025 revenue decline and historically uneven cash flows.
Positive Factors
Zero debt / strong balance sheet
Zero reported debt in 2025 provides durable financial flexibility: the company can absorb project timing shocks, fund working capital or capex internally, and pursue bids or distributions without refinancing risk, improving resilience across cycles.
Negative Factors
Sharp revenue decline (2025)
A ~35% top-line drop underscores high cyclicality and project-timing dependence inherent to engineering & construction. Persistent revenue volatility impairs backlog visibility, complicates capacity and cost planning, and makes sustaining margins and cash predictable over months harder.
Read all positive and negative factors
Positive Factors
Negative Factors
Zero debt / strong balance sheet
Zero reported debt in 2025 provides durable financial flexibility: the company can absorb project timing shocks, fund working capital or capex internally, and pursue bids or distributions without refinancing risk, improving resilience across cycles.
Read all positive factors
Lap Kei Engineering (Holdings) Limited (1690) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$170.54M
Dividend Yield13.51%
Average Volume (3M)2.76M
Price to Earnings (P/E)9.5
Beta (1Y)0.28
Revenue Growth-32.40%
EPS Growth671.43%
CountryHK
Employees113
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)<0.01
Shares Outstanding1,445,230,000
10 Day Avg. Volume533,000
30 Day Avg. Volume2,760,666
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)0.71
Price to Sales (P/S)0.38
P/FCF Ratio4.33
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
Lap Kei Engineering (Holdings) Limited Business Overview & Revenue Model
Company Description
Lap Kei Engineering (Holdings) Limited, a Hong Kong-based investment holding firm, primarily focuses on the installation and design of building services infrastructure and related undertakings. The company's operations are categorized into two pri...
How the Company Makes Money
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Lap Kei Engineering (Holdings) Limited Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
84
Very Positive
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 434.88M | 280.76M | 415.33M | 323.31M | 401.92M | 261.38M |
| Gross Profit | 23.53M | 36.44M | 23.06M | 26.59M | 25.72M | 27.21M |
| EBITDA | 3.29M | 16.97M | 5.28M | 11.61M | 10.83M | 9.69M |
| Net Income | 1.18M | 15.69M | 2.07M | 7.42M | 10.91M | 10.71M |
Balance Sheet | ||||||
| Total Assets | 290.37M | 271.33M | 359.08M | 296.94M | 294.84M | 218.17M |
| Cash, Cash Equivalents and Short-Term Investments | 62.33M | 74.16M | 58.72M | 45.76M | 17.47M | 46.88M |
| Total Debt | 0.00 | 0.00 | 624.00K | 0.00 | 10.00M | 0.00 |
| Total Liabilities | 155.37M | 121.46M | 208.91M | 144.48M | 148.69M | 83.51M |
| Stockholders Equity | 135.01M | 149.86M | 150.17M | 152.46M | 146.16M | 134.66M |
Cash Flow | ||||||
| Free Cash Flow | 17.02M | 24.52M | 13.02M | 36.43M | -39.04M | -26.48M |
| Operating Cash Flow | 22.73M | 28.76M | 18.73M | 39.21M | -36.47M | -22.08M |
| Investing Cash Flow | -1.51M | -2.64M | -1.32M | -388.00K | -2.57M | -1.21M |
| Financing Cash Flow | -39.18M | -15.96M | -4.44M | -10.54M | 9.63M | 11.89M |
Lap Kei Engineering (Holdings) Limited Technical Analysis
Positive
0.07
Price Trends
0.13
Negative
0.12
Positive
0.09
Positive
Market Momentum
>-0.01
Negative
51.02
Neutral
31.75
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1690, the sentiment is Positive. The current price of 0.07 is below the 20-day moving average (MA) of 0.12, below the 50-day MA of 0.13, and below the 200-day MA of 0.09, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 51.02 is Neutral, neither overbought nor oversold. The STOCH value of 31.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1690.
Lap Kei Engineering (Holdings) Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | HK$170.54M | 9.55 | 11.27% | 13.51% | -32.40% | 671.43% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
55 Neutral | HK$312.00M | 32.77 | 3.15% | 5.63% | 0.44% | 27.96% | |
48 Neutral | HK$232.00M | 14.54 | 4.36% | 15.38% | 0.39% | -42.36% | |
45 Neutral | HK$90.04M | -0.45 | -47.12% | ― | -51.29% | 43.87% |
* Industrials Sector Average
HK:1690
Lap Kei Engineering (Holdings) Limited
0.12
0.06
100.00%
HK:1408
Macau E&M Holding Limited
0.33
0.19
137.41%
HK:1413
Kwong Luen Engineering Holdings Limited
0.18
-0.11
-36.90%
HK:1447
SFK Construction Holdings Ltd.
0.58
0.04
7.61%
HK:1615
AB Builders Group Limited
0.40
0.16
68.09%
HK:1793
Wecon Holdings Ltd.
0.39
0.23
137.80%
Lap Kei Engineering (Holdings) Limited Corporate Events
Lap Kei Engineering Shareholders Unanimously Approve AGM Resolutions and Dividend
May 14, 2026
Lap Kei Engineering (Holdings) Limited held its annual general meeting on 14 May 2026 in Hong Kong, where shareholders representing 1,045,980,000 shares voted. All resolutions, including adoption of the 2025 audited accounts, re-election of direct...
Lap Kei Engineering Sets 2026 AGM to Approve Dividend, Director Re-elections and Share Issue Mandate
Apr 15, 2026
Lap Kei Engineering (Holdings) Limited has called its annual general meeting for 14 May 2026 in Hong Kong, where shareholders will review and adopt the audited financial statements for the year ended 31 December 2025, vote on director re-elections...
Lap Kei Engineering Moves to Modernise Articles for Electronic Governance
Apr 15, 2026
Lap Kei Engineering (Holdings) Limited plans to revise its articles of association to align with the latest legal and regulatory standards under Hong Kong listing rules, including recent changes effective from July 2025. The move underscores the c...
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.