Times China Holdings Limited

SZSC:1233 Stock Report

Market Cap: HK$462.4m

Times China Holdings Valuation

Is 1233 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 1233 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 1233 (HK$0.22) is trading below our estimate of fair value (HK$10.28)

Significantly Below Fair Value: 1233 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 1233?

Key metric: As 1233 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 1233. This is calculated by dividing 1233's market cap by their current revenue.
What is 1233's PS Ratio?
PS Ratio0.02x
SalesCN¥27.86b
Market CapCN¥420.12m

Price to Sales Ratio vs Peers

How does 1233's PS Ratio compare to its peers?

The above table shows the PS ratio for 1233 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.3x
1125 Lai Fung Holdings
0.2xn/aHK$367.4m
9982 Central China Management
0.6x3.9%HK$425.2m
2772 Zhongliang Holdings Group
0.008xn/aHK$493.1m
2231 JY Grandmark Holdings
0.2xn/aHK$493.9m
1233 Times China Holdings
0.02x-32.5%HK$462.4m

Price-To-Sales vs Peers: 1233 is good value based on its Price-To-Sales Ratio (0x) compared to the peer average (5.7x).

Price to Sales Ratio vs Industry

How does 1233's PS Ratio compare vs other companies in the HK Real Estate Industry?

95 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.0.6x4.8%
1233 Times China Holdings
 0.02x-32.5%US$59.10m
1908 C&D International Investment Group
0.2x3.1%US$3.21b
3900 Greentown China Holdings
0.2x-0.4%US$2.96b
1233 0.0xIndustry Avg. 0.6xNo. of Companies94PS00.81.62.43.24+
95 CompaniesEstimated GrowthMarket Cap
Industry Avg.0.6x21.5%
1233 Times China Holdings
 0.02x90.0%US$59.10m
No more companies

Price-To-Sales vs Industry: 1233 is good value based on its Price-To-Sales Ratio (0x) compared to the Hong Kong Real Estate industry average (0.6x).

Price to Sales Ratio vs Fair Ratio

What is 1233's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

1233 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.02x
Fair PS Ratio0.06x

Price-To-Sales vs Fair Ratio: 1233 is good value based on its Price-To-Sales Ratio (0x) compared to the estimated Fair Price-To-Sales Ratio (0.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 1233 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
HK$0.23
0%
14.7%HK$0.27HK$0.20n/a2
Dec ’25n/a
HK$0.23
0%
14.7%HK$0.27HK$0.20n/a2
Nov ’25n/a
HK$0.23
0%
14.7%HK$0.27HK$0.20n/a2
Oct ’25n/a
HK$0.23
0%
14.7%HK$0.27HK$0.20n/a2
Sep ’25n/a
HK$0.23
0%
14.7%HK$0.27HK$0.20n/a2
Aug ’25n/a
HK$0.23
0%
14.7%HK$0.27HK$0.20n/a2
Jul ’25n/a
HK$0.23
0%
14.7%HK$0.27HK$0.20n/a2
Jun ’25n/a
HK$0.23
0%
14.7%HK$0.27HK$0.20n/a2
May ’25n/a
HK$0.23
0%
14.7%HK$0.27HK$0.20n/a2
Apr ’25n/a
HK$0.23
0%
14.7%HK$0.27HK$0.20n/a2
Mar ’25n/a
HK$0.23
0%
14.7%HK$0.27HK$0.20n/a2
Feb ’25HK$0.21
HK$0.23
+10.1%
14.7%HK$0.27HK$0.20n/a2
Jan ’25HK$0.26
HK$0.34
+29.9%
20.1%HK$0.41HK$0.27n/a2
Oct ’24HK$0.43
HK$0.45
+2.7%
41.7%HK$0.69HK$0.25n/a3
Sep ’24HK$0.52
HK$0.52
-0.7%
37.5%HK$0.70HK$0.25n/a3
Aug ’24HK$0.65
HK$0.51
-20.8%
37.3%HK$0.69HK$0.25n/a3
Jul ’24HK$0.71
HK$0.78
+9.7%
50.8%HK$1.38HK$0.31n/a4
Jun ’24HK$0.48
HK$1.01
+111.0%
56.2%HK$1.70HK$0.32n/a4
May ’24HK$0.59
HK$1.01
+71.7%
56.2%HK$1.70HK$0.32n/a4
Apr ’24HK$0.75
HK$2.18
+190.1%
74.1%HK$5.34HK$0.81n/a5
Mar ’24HK$1.19
HK$2.19
+84.0%
74.1%HK$5.37HK$0.82n/a5
Feb ’24HK$1.55
HK$2.30
+48.6%
65.5%HK$5.42HK$0.82HK$0.216
Jan ’24HK$1.51
HK$2.18
+44.3%
68.5%HK$5.25HK$0.80HK$0.266
Dec ’23HK$1.33
HK$2.32
+74.4%
61.9%HK$5.13HK$0.78HK$0.397

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/02/06 13:49
End of Day Share Price 2024/02/06 00:00
Earnings2023/06/30
Annual Earnings2022/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Times China Holdings Limited is covered by 25 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Yiu Kei TungABCI Securities Company Limited
Cheng Yu ChangBNP Paribas Securities (Asia)
Feifan LiuBofA Global Research