SEM Holdings Limited (HK:9929)
:9929
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SEM Holdings Limited
(9929)
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Rating:60Neutral
Price Target:
HK$0.61
▲(1.50% Upside)
Action:ReiteratedDate:01/17/26
The score is primarily supported by improved profitability and a very strong, low-debt balance sheet, but is held back by the steep revenue decline and negative operating/free cash flow. Technicals are modestly supportive overall, while the very high P/E meaningfully pressures the valuation component.
Positive Factors
Very strong balance sheet
A very high equity ratio and minimal leverage give the company durable financial flexibility. Low debt reduces refinancing and interest-rate risk, supports capital allocation for development or opportunistic acquisitions, and underpins resilience through real estate cycles over months.
Negative Factors
Steep revenue decline
A sharp 64% revenue drop materially weakens scale and questions sustainability of recent margin gains. Without revenue recovery, fixed-cost absorption and growth prospects are impaired, limiting the company's ability to convert margin improvements into durable earnings growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Very strong balance sheet
A very high equity ratio and minimal leverage give the company durable financial flexibility. Low debt reduces refinancing and interest-rate risk, supports capital allocation for development or opportunistic acquisitions, and underpins resilience through real estate cycles over months.
Read all positive factors
SEM Holdings Limited (9929) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.72B
Dividend YieldN/A
Average Volume (3M)3.43M
Price to Earnings (P/E)―
Beta (1Y)0.46
Revenue GrowthN/A
EPS GrowthN/A
CountryHK
Employees50
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)-0.01
Shares Outstanding2,000,000,000
10 Day Avg. Volume6,709,000
30 Day Avg. Volume3,426,000
Financial Highlights & Ratios
PEG Ratio5.60
Price to Book (P/B)8.07
Price to Sales (P/S)41.00
P/FCF Ratio-339.48
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
SEM Holdings Limited Business Overview & Revenue Model
Company Description
SEM Holdings Limited, an investment holding company, provides electrical and mechanical (E&M) engineering services in Macau and Hong Kong. The company supplies, installs, and maintains electrical systems for new and existing buildings in the proje...
How the Company Makes Money
SEM Holdings Limited generates revenue through several key streams. The primary source of income comes from leasing commercial properties, where the company earns rental income from tenants occupying its properties. Additionally, the company engag...
SEM Holdings Limited Financial Statement Overview
Summary
Income Statement
65
Positive
Balance Sheet
78
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 62.36M | 91.71M | 258.89M | 281.33M | 172.99M | 66.83M |
| Gross Profit | 25.30M | 23.52M | 19.51M | 23.15M | 20.39M | 10.07M |
| EBITDA | 13.07M | 6.65M | -5.09M | -2.24M | -1.98M | -16.43M |
| Net Income | 11.46M | 3.80M | -7.97M | -6.73M | -4.72M | -19.23M |
Balance Sheet | ||||||
| Total Assets | 244.92M | 257.60M | 259.91M | 268.46M | 265.06M | 258.89M |
| Cash, Cash Equivalents and Short-Term Investments | 112.58M | 72.13M | 56.05M | 40.80M | 66.38M | 106.43M |
| Total Debt | 5.66M | 6.09M | 6.91M | 7.75M | 8.63M | 819.61K |
| Total Liabilities | 31.75M | 44.66M | 50.77M | 51.34M | 41.22M | 34.48M |
| Stockholders Equity | 213.16M | 212.94M | 209.14M | 217.11M | 223.84M | 224.41M |
Cash Flow | ||||||
| Free Cash Flow | -10.13M | -1.63M | 14.79M | -5.67M | -64.74M | -50.09M |
| Operating Cash Flow | -10.09M | -1.44M | 15.10M | -5.18M | -41.42M | -48.79M |
| Investing Cash Flow | 12.02M | 23.45M | 3.04M | -12.06M | -26.72M | 15.22M |
| Financing Cash Flow | 0.00 | -1.76M | -2.00M | -2.06M | 6.30M | 101.93M |
SEM Holdings Limited Technical Analysis
Positive
0.60
Price Trends
0.69
Positive
0.55
Positive
0.31
Positive
Market Momentum
0.05
Negative
55.80
Neutral
32.41
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9929, the sentiment is Positive. The current price of 0.6 is below the 20-day moving average (MA) of 0.78, below the 50-day MA of 0.69, and above the 200-day MA of 0.31, indicating a bullish trend. The MACD of 0.05 indicates Negative momentum. The RSI at 55.80 is Neutral, neither overbought nor oversold. The STOCH value of 32.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:9929.
SEM Holdings 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% | |
60 Neutral | HK$1.72B | -91.49 | 5.38% | ― | ― | ― | |
55 Neutral | HK$216.00M | 6.09 | 3.15% | 5.63% | -9.62% | -2.68% | |
43 Neutral | HK$132.00M | -14.63 | -47.44% | ― | -34.70% | -388.24% | |
43 Neutral | HK$400.61M | 507.61 | -104.46% | ― | 62.98% | 67.20% |
* Industrials Sector Average
HK:9929
SEM Holdings Limited
0.86
0.80
1333.33%
HK:1741
Ri Ying Holdings Ltd.
0.17
0.07
65.00%
HK:1793
Wecon Holdings Ltd.
0.27
0.12
78.81%
HK:1920
Hands Form Holdings Limited
1.07
0.62
137.78%
HK:2266
Lai Si Enterprise Holding Ltd.
0.41
0.11
36.67%
HK:0589
Jianzhong Construction Development Limited
0.19
0.00
0.00%
SEM Holdings Limited Corporate Events
SEM Holdings Issues Composite Document for Mandatory Unconditional Cash Offer
Dec 29, 2025
SEM Holdings Limited has announced the formal despatch of a composite document relating to a mandatory unconditional cash offer by Yao Capital Limited, made through Lego Securities Limited, to acquire all issued shares of SEM Holdings not already ...
SEM Holdings Delays Despatch of Composite Offer Document for Mandatory Cash Bid
Dec 24, 2025
Yao Capital Limited and SEM Holdings Limited have announced a delay in sending to shareholders a combined offer document and board circular relating to a mandatory unconditional cash offer for all SEM shares not already owned or agreed to be acqui...
SEM Holdings Appoints Independent Financial Adviser Amid Takeover Offer
Dec 10, 2025
SEM Holdings Limited has announced the appointment of Red Sun Capital Limited as the Independent Financial Adviser to guide its Independent Board Committee regarding an offer. This decision is part of the company’s compliance with the Takeov...
SEM Holdings Completes Major Share Acquisition by Yao Capital
Dec 3, 2025
SEM Holdings Limited, incorporated in the Cayman Islands, has announced the completion of a significant transaction involving the sale and purchase of 75% of its issued shares to Yao Capital Limited. This transaction, valued at HK$165.0 million, h...
SEM Holdings Announces Trading Halt Pending Major Announcement
Nov 26, 2025
SEM Holdings Limited, a company incorporated in the Cayman Islands, has announced a trading halt of its shares on the Hong Kong Stock Exchange. This suspension, effective from 9:00 a.m. on November 26, 2025, is pending the release of an announceme...
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.