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$437.0m
9982 Central China Management
0.6x3.9%HK$425.2m
2772 Zhongliang Holdings Group
0.009xn/aHK$578.1m
2231 JY Grandmark Holdings
0.2xn/aHK$576.2m
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?

88 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.0.6x4.5%
1233 Times China Holdings
 0.02x-32.5%US$59.10m
1908 C&D International Investment Group
0.2x3.1%US$3.69b
1918 Sunac China Holdings
0.2x-14.2%US$3.19b
1233 0.0xIndustry Avg. 0.6xNo. of Companies87PS00.81.62.43.24+
88 CompaniesEstimated GrowthMarket Cap
Industry Avg.0.6x21.6%
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
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
Nov ’23HK$0.48
HK$2.41
+397.6%
59.3%HK$5.10HK$0.78HK$0.358

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

Discover undervalued companies

Longfor Group Holdings

HK$78.4b

An investment holding company, engages in the property development, investment, and management businesses in the People’s Republic of China.

960

HK$11.38

7D

-12.6%

1Y

-12.6%

Poly Property Group

HK$6.2b

An investment holding company, engages in the property investment, development, and management business in Hong Kong, the People’s Republic of China, and internationally.

119

HK$1.62

7D

-8.5%

1Y

-1.8%

Country Garden Services Holdings

HK$17.8b

An investment holding company, provides property management services to property owners, residents, and property developers in Mainland China.

6098

HK$5.33

7D

-6.5%

1Y

-27.6%