Added to YB: 2026-08-26
Pitch date: 2026-08-24
6811.HK [bullish]
Tai Hing Group Holdings Limited
Author Info
No bio for this author
Company Info
Tai Hing Group Holdings Limited, an investment holding company, engages in the operation of restaurants and sale of food products in Hong Kong and Macau, and Mainland China.
Market Cap
HKD 1.3B
Pitch Price
HKD 1.44
Price Target
N/A
Dividend
N/A
EV/EBITDA
3.10
P/E
9.39
EV/Sales
0.49
Sector
Hotels, Restaurants and Leisure
Category
value
9x P/E, 9% Dividends, Improving Margins, 35% of Market Cap in Net Cash - Tai Hing Group Holdings Limited
6811.HK: HK casual-dining group at ~9x P/E (7x if 1H26 earnings growth annualized), 2x EV/EBITDA, ~9% dividend yield (potentially 10%), with 35% of market cap in net cash ($484m, no debt). 1H26: OI +59%, EPS +84% on stable 73% GM, HK/Macau rev +9%. Mainland exit (62→26 stores) removes -1% margin drag, lifting mix. Family owns 55%. Risk: stagnant HK catering industry with no growth catalyst—thesis relies on share gains vs. weakening peers (Cafe de Coral -4.5%, Fairwood flat) and Mainland-brand price competition; rental costs may rise if economy recovers.
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