Added to YB: 2025-01-24
Pitch date: 2025-01-22
0014.HK [neutral]
Hysan Development Company Limited
+80.3%
current return
Author Info
Praya Value looks for excellent management teams capable of creating shareholder value from the mundane. Sign up for their newsletter.
Company Info
Hysan Development Co., Ltd. is a leading property investment, management and development company. Its core asset portfolio, “Lee Gardens” in Hong Kong, has approximately 4.
Market Cap
HKD 11.5B
Pitch Price
HKD 10.33
Price Target
N/A
Dividend
9.66%
EV/EBITDA
18.93
P/E
-18.03
EV/Sales
13.67
Sector
Real Estate Management and Development
Category
value
Hysan Development: Luxury retail/office exposure, will outperform on a market upswing
0014.HK: Prime HK real estate at 80% NAV discount. 42% Lee family-owned. Causeway Bay focus: 45% office, 45% retail. Risks: overpaid Caroline Hill acquisition, potential redevelopment spree. Upside if management harvests cash; downside if they continue aggressive expansion. Trading at 4.5-6.5x 2027E underlying profit.
Read full article (11 min)