2191.Hk
The company operates as a commercial real estate investment trust (REIT), generating revenue primarily through property rentals and management of commercial real estate assets.
Business. The company operates as a commercial real estate investment trust (REIT), generating revenue primarily through property rentals and management of commercial real estate assets.
Analyst recommendations
2 analysts · consensus BuyAt a glance
What drives this business
The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.
News & coverage
0Sector rotation
Developing storylines
Analysis
AI analysisOpportunity
Upcoming catalysts
Scheduled public events. Informational only — not investment advice.
- 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
The company operates as a commercial real estate investment trust (REIT), generating revenue primarily through property rentals and management of commercial real estate assets.
The company's capital structure is characterized by a debt-to-equity ratio of 0.78, indicating a moderate reliance on debt financing. Its liquidity position is assessed as medium, with a current ratio of 0.94 and cash and equivalents amounting to 118.95 million HKD. The price-to-book ratio of 0.66 suggests that the company is trading at a discount relative to its book value.
Profitability metrics reveal a challenging financial position, with a return on equity (ROE) of -10.44% and a return on assets (ROA) of -5.18%. These figures are below the typical performance benchmarks for the commercial REITs industry, indicating a need for operational improvements or strategic adjustments to enhance returns.
The company's revenue is primarily concentrated in commercial real estate operations, with no disclosed geographic diversification or segment breakdown provided in the available data. This lack of diversification may expose the company to regional economic fluctuations and market-specific risks.
The company's growth trajectory is uncertain, with no specific revenue growth projections provided in the available data. The negative operating income of 302.81 million HKD and net income of 332.32 million HKD suggest a decline in profitability. The free cash flow of -541.35 million HKD indicates a significant outflow of cash, which may impact the company's ability to fund operations and investments.
The risk assessment highlights a medium liquidity risk and a low dilution risk. The company's net cash position is negative after subtracting total debt, which could affect its ability to meet short-term obligations. The dilution risk is assessed as low, with no significant dilution potential identified in the available data.
Recent events and filings do not provide specific details on the company's strategic initiatives or operational changes. Analyst estimates suggest a mean price target of 3.07 HKD, with a median price target of 3.07 HKD and a mean recommendation of 1.50, indicating a generally positive outlook from analysts.
- The company is trading at a discount to its book value, as indicated by a price-to-book ratio of 0.66.
- The company's profitability is weak, with a negative return on equity of -10.44% and a negative return on assets of -5.18%.
- The company's liquidity position is moderate, with a current ratio of 0.94 and a debt-to-equity ratio of 0.78.
- Analysts have a generally positive outlook, with a mean price target of 3.07 HKD and a mean recommendation of 1.50.
Bull / Bear case
analysis pipelineIn focus — financials by report
Valuation
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | 0,25 |
| Revenue | —no estimate | —no estimate | 394,0M HKD |
| Operating income | —no estimate | —no estimate | -26,0M HKD |
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Net cash is negative after subtracting total debt.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Actions
Ask Handelsavisen
- Market data
- Market data cache
- Issuer disclosures
- Public news
- Earnings transcripts
- Consensus estimates
- ESG data
- Ev To Operating Cash Flowenterprise_value / operating_cash_flow
- Return On Equitynet_income / total_equity
- Price To Bookmarket_price / (adjusted_book_value / shares_outstanding_diluted)
- Dilution Ratio(shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
- Market Priceinput from market-data provider (delayed close or quote-shim mid)
- Market Capmarket_price * shares_outstanding_diluted
- 2191.HK Market data — financials · 2026-05-26
- SF Real Estate Investment Trust Market data — analyst estimates · 2026-05-26
Ownership & reference
Leadership
- Alan LamChief Executive Officer, Executive Director