1966.Hk
1966.HK is a real estate company engaged in real estate rental, development, and operations, generating revenue primarily through property development and leasing activities.
Business. 1966.HK is a real estate company engaged in real estate rental, development, and operations, generating revenue primarily through property development and leasing activities.
At a glance
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- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
1966.HK is a real estate company engaged in real estate rental, development, and operations, generating revenue primarily through property development and leasing activities.
The company's capital structure is highly leveraged, with total liabilities of CNY 93.73 billion and total equity of CNY -5.11 billion, resulting in a negative debt-to-equity ratio of -6.48. Liquidity is constrained, as evidenced by a current ratio of 0.75 and cash and equivalents of CNY 2.34 billion, which is significantly lower than the long-term debt of CNY 33.09 billion. The negative net cash position further exacerbates liquidity risk.
Profitability is severely challenged, with a net loss of CNY 7.45 billion and an operating loss of CNY 4.16 billion in the latest period. Return on assets is negative at -8.4%, and return on equity is 1.46%, which is far below the industry median for real estate development and operations. These metrics indicate a company struggling to generate returns from its asset base or equity.
The company's revenue is concentrated in a single business segment, as disclosed in its financials, with no material geographic diversification reported. This lack of diversification increases exposure to regional economic downturns and regulatory shifts in its primary operating market.
Growth trajectory is negative, with no disclosed revenue growth in the latest period and a net loss that suggests operational challenges. The outlook for the current fiscal year is not explicitly provided, but the negative operating and net income trends suggest continued pressure on earnings.
Risk factors include high leverage, negative equity, and liquidity constraints. The company's dilution potential is low, as shares outstanding are the same for both basic and diluted calculations, indicating no material dilutive instruments. However, the negative equity position and high debt levels suggest a need for potential capital restructuring or dilution in the near term.
Recent events include a significant operating loss and net loss, which may be attributed to macroeconomic headwinds or project-specific challenges. No recent filings or transcripts are provided to detail the root causes of the financial performance.
- The company is highly leveraged with a negative equity position and a debt-to-equity ratio of -6.48.
- Profitability is severely challenged, with a net loss of CNY 7.45 billion and an operating loss of CNY 4.16 billion.
- Liquidity is constrained, with a current ratio of 0.75 and cash reserves significantly lower than long-term debt.
- The company lacks geographic and segment diversification, increasing exposure to regional risks.
- Growth is negative, with no disclosed revenue growth and continued losses.
- Dilution risk is low, but capital restructuring may be necessary due to the negative equity position.
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Risk factors
- Net cash is negative after subtracting total debt.
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- Dilution Ratio(shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
- Net Cashcash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
- Return On Equitynet_income / total_equity
- Debt To Equity(short_term_debt + long_term_debt) / total_equity
- Return On Assetsnet_income / total_assets
- 1966.HK Market data — financials · 2026-05-26