SEM Holdings Limited (9929) AI Stock Analysis

• Market Cap: HK$206.00M
• Dividend Yield: N/A
• Average Volume (3M): 3.43M
• Price to Earnings (P/E): 18.1
• Beta (1Y): 0.28
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: HK
• Employees: 50
• Sector: Industrials
• Sector Strength: 72
• Industry: Engineering & Construction
• EPS (TTM): 0.00
• Shares Outstanding: 2,000,000,000
• 10 Day Avg. Volume: 6,709,000
• 30 Day Avg. Volume: 3,426,000
• PEG Ratio: 0.00
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 50 Neutral
• Price Target: HK$0.61 ▲(0.16% Upside)

The overall stock score reflects a mixed financial performance with improved profitability but significant revenue and cash flow challenges. Technical analysis indicates overbought conditions and potential bearish momentum, while high valuation metrics suggest overvaluation. The absence of earnings call and corporate events data limits further insights.

Positive Factors

Balance Sheet Health

A robust balance sheet with low leverage provides SEM Holdings with financial stability, allowing it to withstand economic fluctuations and invest in growth opportunities.

Profitability Improvement

Improved profitability through better cost management enhances SEM Holdings' ability to generate sustainable earnings, supporting long-term financial health and strategic investments.

Low Leverage Risk

Minimal leverage risk ensures SEM Holdings has greater financial flexibility and lower interest obligations, allowing it to navigate market changes and invest in growth without significant financial strain.

Negative Factors

Revenue Decline

A significant decline in revenue poses a challenge to SEM Holdings' growth prospects, potentially impacting its ability to fund operations and invest in new projects.

Negative Cash Flow

Negative operating cash flow indicates liquidity challenges for SEM Holdings, which could constrain its ability to meet short-term obligations and invest in strategic initiatives.

Revenue Growth Challenges

Challenges in revenue growth and cash flow generation may hinder SEM Holdings' capacity to sustain operations and pursue expansion, affecting long-term competitiveness.

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 projects of commercial and residential development, hotel development, casino development, public properties, and hotel renovation. It serves contractors or the E&M engineering works subcontractors in the related development and renovation projects. The company was founded in 2006 and is based in Chai Wan, Hong Kong. SEM Holdings Limited is a subsidiary of SEM Enterprises Limited.

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 engages in property development, generating revenue from the sale of developed properties and land parcels. Asset management services also contribute to its earnings by charging fees for managing investment portfolios and real estate assets. Strategic partnerships with other real estate firms and financial institutions further enhance its revenue potential by enabling access to larger projects and investment opportunities.

SEM Holdings Limited Financial Statement Overview

Summary

SEM Holdings Limited shows a mixed financial performance. Profitability and operational efficiency have improved, but revenue decline and negative cash flows are concerning. The balance sheet remains strong with low leverage, providing stability.

Income Statement

SEM Holdings Limited has shown a significant improvement in profitability with a positive net income in 2024 compared to a loss in 2023. The gross profit margin improved to 25.65% from 7.54%, indicating better cost management. However, the revenue has decreased substantially by 64.56%, which is a concern for future growth. The EBIT and EBITDA margins have turned positive, showing operational improvements.

Balance Sheet

The company maintains a strong equity position with an equity ratio of 82.66%, indicating financial stability. The debt-to-equity ratio is low at 0.03, suggesting minimal leverage risk. The return on equity improved to 1.79% from a negative position, reflecting better profitability. Overall, the balance sheet is robust with a strong equity base and low debt levels.

Cash Flow

The cash flow situation has deteriorated with a negative operating cash flow in 2024, compared to a positive cash flow in 2023. The free cash flow has also turned negative, indicating potential liquidity challenges. The company needs to improve its cash generation from operations to support its financial health.

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

• Technical Analysis Sentiment: Positive
• Last Price: 0.61
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

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 0.61 is above the 20-day moving average (MA) of 0.18, above the 50-day MA of 0.12, and above the 200-day MA of 0.08, indicating a bullish trend. The MACD of 0.10 indicates Negative momentum. The RSI at 97.93 is Negative, neither overbought nor oversold. The STOCH value of 86.71 is Negative, 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
1793	54 Neutral	HK$137.60M	18.49	3.17%	5.66%	-9.62%	-2.68%
9929	50 Neutral	HK$206.00M	18.07	5.52%	―	―	―
1741	48 Neutral	HK$150.40M	-3.78	-47.66%	―	-34.70%	-388.24%
1920	44 Neutral	HK$151.63M	-7.12	-68.45%	―	62.98%	67.20%

SEM Holdings Limited Corporate Events

SEM Holdings Completes Major Share Acquisition by Yao Capital

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, has led to a mandatory unconditional cash offer by Yao Capital Limited to acquire the remaining shares of SEM Holdings Limited. The completion of this acquisition and the subsequent offer are expected to impact the company’s market positioning and shareholder structure.

SEM Holdings Announces Trading Halt Pending Major Announcement

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 announcement related to inside information under the Hong Kong Code on Takeovers and Mergers. The halt indicates a significant event that could impact the company’s operations and stakeholders.

Executive Director Resignation at SEM Holdings Limited

SEM Holdings Limited, a company listed on the Hong Kong Stock Exchange, announced the resignation of Mr. Yu Chi Kwan from his position as an executive director, effective October 10, 2025. Mr. Yu is stepping down to focus on personal commitments and family, with no disagreements with the board or issues requiring shareholder attention. The board expressed gratitude for Mr. Yu’s contributions during his tenure.

SEM Holdings Limited Announces Board Composition and Roles

SEM Holdings Limited, a company incorporated in the Cayman Islands, has announced the composition of its board of directors and their respective roles within the organization. This announcement includes the appointment of executive, non-executive, and independent non-executive directors, along with their committee memberships. The board’s structure is designed to enhance governance and strategic oversight, potentially impacting the company’s decision-making processes and stakeholder relations positively.

SEM Holdings Limited Issues Supplemental Announcement on Share Option Scheme

SEM Holdings Limited, incorporated in the Cayman Islands and listed on the Hong Kong Stock Exchange, has issued a supplemental announcement to its 2024 Annual Report. The company has provided additional details regarding its share option scheme, including the exercise period, vesting period, and payment terms for options granted. This announcement does not alter any other information in the Annual Report, ensuring stakeholders that the core financial and operational data remain unchanged.