C&D International Investment Group Ltd. (1908) AI Stock Analysis

• Market Cap: HK$35.60B
• Dividend Yield: 7.62%
• Average Volume (3M): 6.20M
• Price to Earnings (P/E): 5.5
• Beta (1Y): 1.12
• Revenue Growth: 1.26%
• EPS Growth: -0.20%
• Country: HK
• Employees: 22,069
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Development
• EPS (TTM): 0.49
• Shares Outstanding: 2,240,154,000
• 10 Day Avg. Volume: 9,990,843
• 30 Day Avg. Volume: 6,204,605
• PEG Ratio: -0.63
• Price to Book (P/B): 0.71
• Price to Sales (P/S): 0.19
• P/FCF Ratio: 7.60
• 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$19.10
• Price Target Upside: 9.77% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 17.39
• Revenue Forecast (FY): HK$1.01T

• Rating: 72 Outperform
• Price Target: HK$16.50 ▼(-5.17% Downside)

The overall stock score of 72 reflects strong financial performance with robust revenue growth and efficient operations. However, the high leverage and low net profit margin are concerns. The technical analysis indicates a bearish trend, but the stock's low P/E ratio and high dividend yield suggest it may be undervalued, providing potential upside for investors.

Positive Factors

Sustained Revenue Growth

A 49.1% TTM revenue increase indicates strong demand for the company’s development projects and services. Durable revenue expansion supports a larger project pipeline and recurring leasing and construction income, improving long-term cash generation and strategic reinvestment capacity.

Improving Free Cash Flow

Marked free cash flow improvement enhances funding for new developments, debt servicing, and shareholder returns without heavy external capital. Strong FCF relative to net income signals sustainable cash generation that can support growth and reduce reliance on volatile financing markets.

Effective Equity Returns

Consistently strong ROE implies management effectively leverages shareholder capital to produce profits. This structural efficiency supports reinvestment in projects and joint ventures, bolstering long-term competitive positioning in real estate development and construction.

Negative Factors

High Leverage Risk

Elevated debt-to-equity increases interest burden and financial vulnerability to rate rises or housing downturns. High leverage can constrain capital allocation, limit ability to pursue opportunistic projects, and increase refinancing risk across multi-quarter property cycles.

Low Net Profit Margin

A ~3.4% net margin limits internal earnings retention and resilience to cost shocks. In a capital-intensive development business, low margins reduce buffers against project overruns and input inflation, weakening long-term profitability durability versus peers with higher margins.

Weak Earnings-to-Cash Conversion

Low operating cash conversion suggests earnings quality or working-capital volatility from project timing or receivables. Over time this can strain liquidity during slower sales cycles, complicate debt servicing, and necessitate external financing despite positive accounting profits.

C&D International Investment Group Ltd. Business Overview & Revenue Model

Company Description

C&D International Investment Group Ltd. (1908) is a diversified investment company based in Hong Kong, focusing on various sectors including real estate, construction, and infrastructure development. The company is engaged in the acquisition, development, and management of properties, as well as providing construction services. C&D International aims to capitalize on market opportunities in the Asia-Pacific region, leveraging its extensive experience and network to deliver value-added solutions in the real estate market.

How the Company Makes Money

C&D International generates revenue primarily through its real estate development projects, which involve the sale of residential and commercial properties. Additionally, the company earns income from its construction services, where it undertakes projects for third parties as well as its own developments. Significant revenue streams include property sales, leasing income from rental properties, and construction contracts. The company also benefits from strategic partnerships with local governments and private developers, which facilitate access to prime development sites and enhance its project pipeline. Overall, C&D International's business model is centered on capitalizing on property market trends and leveraging its expertise in construction and real estate management.

C&D International Investment Group Ltd. Financial Statement Overview

Summary

C&D International Investment Group Ltd. shows strong revenue growth and efficient operations. However, the high debt-to-equity ratio poses a financial risk, and the net profit margin is relatively low compared to industry standards.

Income Statement

C&D International Investment Group Ltd. has demonstrated strong revenue growth, particularly in the TTM period with a 49.1% increase. Gross profit margins have remained stable, and the net profit margin is consistent at around 3.4%. The EBIT and EBITDA margins are healthy, indicating efficient operations. However, the net profit margin is relatively low compared to industry standards, suggesting room for improvement in profitability.

Balance Sheet

The company has a high debt-to-equity ratio, which has slightly improved from previous years but remains a potential risk. Return on equity is strong, reflecting effective use of equity to generate profits. The equity ratio indicates a moderate level of equity financing, but the high leverage could pose financial risks if not managed carefully.

Cash Flow

The cash flow statement shows a significant improvement in free cash flow growth, particularly in the TTM period. The operating cash flow to net income ratio is low, indicating potential challenges in converting income into cash. However, the free cash flow to net income ratio is strong, suggesting good cash generation relative to net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	144.40B	142.99B	134.43B	99.64B	54.56B	42.74B
Gross Profit	19.47B	18.97B	14.92B	15.22B	9.08B	7.34B
EBITDA	10.68B	10.25B	9.12B	9.41B	6.54B	5.69B
Net Income	4.90B	4.80B	5.03B	4.93B	3.55B	2.32B
Balance Sheet
Total Assets	443.93B	412.48B	427.28B	393.46B	343.52B	183.42B
Cash, Cash Equivalents and Short-Term Investments	58.83B	62.46B	51.12B	47.37B	44.87B	27.39B
Total Debt	92.75B	84.64B	83.23B	92.25B	85.18B	53.71B
Total Liabilities	336.93B	309.98B	336.34B	314.04B	280.27B	146.07B
Stockholders Equity	38.51B	37.56B	33.46B	31.64B	26.61B	17.82B
Cash Flow
Free Cash Flow	18.97B	3.52B	24.22B	3.41B	6.41B	4.21B
Operating Cash Flow	19.18B	3.74B	24.41B	3.52B	6.50B	4.27B
Investing Cash Flow	-18.71B	-5.45B	-8.41B	-16.37B	-20.48B	-3.35B
Financing Cash Flow	6.57B	4.83B	-12.24B	13.39B	31.64B	16.07B

C&D International Investment Group Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 17.40
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1908, the sentiment is Positive. The current price of 17.4 is above the 20-day moving average (MA) of 15.33, above the 50-day MA of 15.90, and above the 200-day MA of 16.31, indicating a neutral trend. The MACD of 0.02 indicates Negative momentum. The RSI at 57.08 is Neutral, neither overbought nor oversold. The STOCH value of 78.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1908.

C&D International Investment Group Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
1908	72 Outperform	HK$35.60B	5.46	20.21%	7.62%	1.26%	-0.20%
0247	68 Neutral	HK$45.75B	18.93	2.41%	2.89%	-0.53%	-9.84%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
3900	62 Neutral	HK$26.77B	-106.79	-0.67%	3.94%	-1.08%	-109.20%
0683	52 Neutral	HK$34.19B	54.11	0.61%	6.48%	76.12%	-72.44%
0817	50 Neutral	HK$22.16B	42.93	1.20%	2.46%	-8.18%	―
1030	46 Neutral	HK$17.46B	76.35	0.46%	―	-30.32%	―

C&D International Investment Group Ltd. Corporate Events

C&D International’s 2025 Contracted Sales Fall as Property Pressures Persist

C&D International Investment Group Limited reported unaudited operating figures for the year ended 31 December 2025, disclosing that contracted sales attributable to its shareholders reached approximately RMB90.93 billion, with contracted sales gross floor area of about 3.653 million square metres. Both metrics showed a year-on-year decline, with sales value down about 12.0% and contracted floor area falling around 27.6%, highlighting ongoing pressure on the group’s sales performance and indicating a challenging operating environment for its property-related activities. The company stressed that the figures are preliminary, subject to adjustment during the formal reporting process, and cautioned shareholders and potential investors to exercise care in dealing in its securities until audited or further refined financial data are released.

The most recent analyst rating on (HK:1908) stock is a Buy with a HK$19.00 price target. To see the full list of analyst forecasts on C&D International Investment Group Ltd. stock, see the HK:1908 Stock Forecast page.

C&D International Renews Procurement Agreement with Xiamen C&D

C&D International Investment Group Ltd. has renewed its Procurement Framework Agreement with Xiamen C&D for the period from January 1, 2026, to December 31, 2028. This agreement facilitates the procurement of raw materials and engineering services necessary for the company’s real estate development projects. The transactions under this agreement are classified as continuing connected transactions under the Listing Rules, requiring reporting and annual review but exempt from independent shareholders’ approval. This renewal ensures a stable supply chain for C&D International’s construction operations, potentially strengthening its market position and operational efficiency.

The most recent analyst rating on (HK:1908) stock is a Buy with a HK$19.00 price target. To see the full list of analyst forecasts on C&D International Investment Group Ltd. stock, see the HK:1908 Stock Forecast page.

C&D International Enhances Board Diversity and Governance

C&D International Investment Group Limited has outlined the terms of reference for its Nomination Committee, which is responsible for the appointment and composition of its members. The committee is composed of at least three board members, with a majority being independent non-executive directors and including at least one director of a different gender. This move reflects the company’s commitment to diversity and governance, potentially impacting its corporate structure and stakeholder relations by ensuring a balanced and independent oversight within its board.

The most recent analyst rating on (HK:1908) stock is a Buy with a HK$19.00 price target. To see the full list of analyst forecasts on C&D International Investment Group Ltd. stock, see the HK:1908 Stock Forecast page.

C&D International Announces Changes in Nomination Committee

C&D International Investment Group Ltd. announced changes in its Nomination Committee, appointing Ms. Zhao Chengmin as a member and Mr. Dai Yiyi as the chairman, effective November 28, 2025. This restructuring aligns with the updated Corporate Governance Code and listing rules, promoting gender diversity within the committee.

The most recent analyst rating on (HK:1908) stock is a Buy with a HK$19.00 price target. To see the full list of analyst forecasts on C&D International Investment Group Ltd. stock, see the HK:1908 Stock Forecast page.

C&D International Announces Board Composition and Committee Roles

C&D International Investment Group Ltd. has announced the composition of its board of directors, detailing the roles and functions of its executive, non-executive, and independent non-executive directors. The announcement also outlines the members of its three key committees: the Audit Committee, Remuneration Committee, and Nomination Committee, indicating a structured governance approach that may impact its strategic decision-making and stakeholder engagement.

The most recent analyst rating on (HK:1908) stock is a Buy with a HK$19.00 price target. To see the full list of analyst forecasts on C&D International Investment Group Ltd. stock, see the HK:1908 Stock Forecast page.

C&D International Renews Key Business Framework Agreement

C&D International Investment Group Ltd. and its subsidiaries have renewed their Business Framework Agreement with C&D Real Estate for a three-year term starting January 2026. This renewal involves continuing connected transactions that are subject to specific reporting and approval requirements under Hong Kong’s Listing Rules. The agreement’s renewal is strategically significant as it maintains the company’s operational continuity and strengthens its market positioning through ongoing collaboration with its controlling shareholder, C&D Real Estate.

The most recent analyst rating on (HK:1908) stock is a Buy with a HK$19.00 price target. To see the full list of analyst forecasts on C&D International Investment Group Ltd. stock, see the HK:1908 Stock Forecast page.