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    Real estate development
Kowloon Development Co. Ltd.

Kowloon Development Co. Ltd.

HHKEX:34
4.24
HKD
+0.16
(+3.80%)
5.60BMarket Cap
Kowloon Development Co. Ltd.
HKEX:34
(Hong Kong Exchange)

Recent

price

4.24

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
HKD
0.99
1.37
2
1.11
2.47
3.13
5.31
2.42
2.18
8.3
3.6
1.57
3.51
2.25
4.36
3.79
- -
Revenue per Share
1.67
1.19
1.48
1.01
0.81
0.94
0.74
1.27
1.68
1.88
0.61
1.69
0.93
0.26
0.09
0.1
- -
Basic EPS, GAAP
0.61
-1.99
0.15
-0.25
0.73
0.15
2.25
-1.07
1.16
4.11
-0.11
-1.63
-4.2
1.11
1.42
1.11
- -
Free Cash Flow per Basic Share
0.47
0.48
0.49
0.51
0.51
0.51
0.52
0.55
0.59
0.67
0.7
0.73
0.51
0.75
0.25
0.22
- -
Dividend per Share
14.55
15.48
16.48
17.42
17.88
17.92
18.46
19.07
19.66
20.72
13.37
14.51
14.11
13.53
13.38
13.37
13.37
Book Value per Share
14.55
15.48
16.48
17.42
17.88
17.92
18.46
19.07
19.66
20.72
13.37
14.51
14.11
13.53
13.38
13.37
13.37
Tangible Book Value per Share
1,277
1,277
1,277
1,277
1,277
1,277
1,277
1,291
1,306
1,306
1,306
1,306
1,306
1,306
1,236
1,306
1,306
Basic Weighted Avg Shares
1,269
1,755
2,556
1,417
3,150
3,993
6,778
3,120
2,842
10,837
4,706
2,050
4,582
2,943
5,390
4,953
- -
Sales/Revenue/Turnover
163.34
43.78
39.99
43.54
32.89
25.14
10.05
18.13
70.27
31.28
31.29
40.36
44.61
34.84
15.79
28.59
- -
Operating Margin (%)
29
36
182
38
60
81
50
34
33
50
41
23
21
20
18
11
- -
Depreciation Expense
2,128
1,526
1,886
1,294
1,041
1,202
947
1,635
2,193
2,450
801
2,209
1,215
337
116
131
- -
Net Income, GAAP
3.31
9.05
8.02
4.38
17.98
12.64
4.71
4.44
2.64
19.66
27.94
5.36
26.53
33.77
14.7
- -
- -
Effective Tax Rate (%)
167.72
86.96
73.8
91.31
33.03
30.1
13.97
52.4
77.16
22.6
17.02
107.74
26.52
11.46
2.15
2.64
- -
Profit Margin (%)
2,704
9,279
9,675
10,783
11,035
9,974
6,066
6,470
11,777
14,820
7,826
13,324
8,779
19,530
16,806
18,242
18,242
Working Capital
3,185
9,629
10,775
13,190
13,353
13,350
9,874
6,964
12,730
13,406
6,823
13,847
9,462
19,941
18,129
18,953
18,953
LT Debt
21,480
22,816
24,141
25,434
26,079
26,104
27,091
28,297
29,825
31,321
17,588
19,074
18,536
17,768
17,568
17,556
17,556
Total Equity
7.51
4.33
4.94
2.64
2.4
2.7
1.87
1.03
5.34
4.5
1.75
6.87
3.36
0.98
0.68
- -
- -
Return on Invested Capital (%)
7.87
4.84
5.37
3.62
2.89
3.21
2.62
4.05
4.21
5.16
2.1
6.89
3.33
1.11
0.73
- -
- -
Return on Capital (%)
12
7.96
9.24
5.97
4.62
5.26
4.07
6.74
8.67
9.29
3.6
12.13
6.5
1.87
0.66
0.75
- -
Return on Common Equity (%)

Capital Structure

HKD

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
ST Debt
2,375
1,709
1,686
LT Borrowings
18,129
18,775
18,953
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,306
1,306
1,306
Market Capitalization
4,951
3,879
5,604

Working Capital

HKD

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
Total Current Assets
23,314
22,637
22,772
Cash, Cash Equivalents & STI
812
966
1,181
Accounts Receivable, Net
643
631
590
Inventories
21,729
20,967
20,171
Total Current Liabilities
6,508
4,757
4,529
Payables & Accruals
- -
- -
- -
ST Debt
2,375
1,709
1,686
Deferred Revenue
- -
- -
- -

Growth Rates

HKD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-2.49%
0.06%
-0.06%
Free Cash Flow
264.7%
292.02%
-17.08%
Net Income, GAAP
3.58%
1.16%
12.89%
Sales/Revenue/Turnover
33.79%
21.27%
-8.1%
Total Cash Common Dividend
-1.98%
-11.01%
-6.08%

Semi-annual Revenue

HKD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
2,943
2024
- -
- -
5,390
2025
- -
- -
4,953

Semi-annual Earnings Per Share

HKD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
0.26
2024
- -
- -
0.09
2025
- -
- -
0.1

Semi-annual Dividends Per Share

HKD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
0.75
2024
- -
- -
0.25
2025
- -
- -
0.22
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Business
Kowloon Development Company Limited (SEHK: 0034), an investment holding company principally engaged in property development, property investment, and property management, operates primarily in Hong Kong and Mainland China; its portfolio encompasses residential developments such as Manor Hill in Tseung Kwan O and Upper Manor on High Street in Sai Ying Pun, commercial and mixed-use projects including Clear Water Bay Road in Ngau Chi Wan and Pioneer Centre in Mongkok, office premises, retail shops, shopping malls, and car parking bays; the company also provides security, technical, housekeeping, building surveying, guarding, financial investment, project management services, and undertakes construction contracts. Founded on 24 January 1961 and headquartered in Mong Kok, Hong Kong, Kowloon Development, a subsidiary of Intellinsight Holdings Limited and member of the Polytec group since 2002, maintains a landbank of approximately 3.0 million sq m of attributable gross floor area across key projects in districts including Shenyang, Tianjin, Shanghai, Foshan, Huizhou, Shanxi, and Zhuhai in Mainland China, with major ongoing developments such as Le Cove City in Wuxi (completed), The Gardenia and Le Cove Garden, The Lake, City Plaza, Yangpu, Polytec Luxury Mansion, and Hengda Guangchang. In recent developments, the group completed acquisitions on 13 December 2024 of 100% equity interests and shareholder loans in entities holding residential and commercial properties on Kowloon Marine Lot No. 28 for HK$88.9 million from a related company, enhancing its property holdings; formed a joint venture in January 2025 under the Land (Compulsory Sale for Redevelopment) Ordinance to unify ownership of a site at Nos. 24, 26, 28 and 30 Fuk Chak Street for high-rise commercial/residential redevelopment with 46,700 sq ft GFA; and completed repurchase of a 60% equity interest in Rideon Limited for HK$1.39 billion, improving liquidity and reducing gearing. The company targets residential and commercial customers, generating rental income from investment properties and presales/sales from developments, with geographic operations focused on Hong Kong (majority revenue source) and Mainland China.