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  2. •

    Finance

  3. •

    Real estate development
Sino Horizon Holdings Ltd.

Sino Horizon Holdings Ltd.

TTWSE:2923
24.45
TWD
+0.60
(+2.52%)
-2.73EPS
47.60BMarket Cap
Sino Horizon Holdings Ltd.
TWSE:2923
(Taiwan Stock Exchange)

Recent

price

24.45

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
TWD
4.32
2.39
6.19
6.19
4.42
7.35
4.28
2.13
3.98
3.3
7.71
2.76
5.3
6.74
4.92
3.33
4.87
Revenue per Share
0.62
2.99
0.86
1.81
1.67
2
1.38
0.08
0.94
4.72
0.68
0.67
0.34
0.32
0.44
-3.62
-3.14
Basic EPS, GAAP
-3.47
-2.27
-1.98
-1.7
-0.5
1.78
-1.04
-2.98
0.73
-1.24
0.96
-1.09
1.08
0.08
-3.07
0.11
0.89
Free Cash Flow per Basic Share
- -
- -
- -
0.12
0.2
0.22
0.36
0.36
0.36
0.72
2.23
1.2
1.2
0.6
0.2
0.24
- -
Dividend per Share
11.66
15.73
25.07
28.21
30.78
31.42
29.33
29.43
28.74
31.45
31.07
30.24
28.91
28.08
29.11
25.43
26.61
Book Value per Share
8.51
12.25
25.05
28.16
30.76
31.4
29.33
29.43
28.74
31.45
31.07
30.24
28.91
28.08
29.11
25.43
26.61
Tangible Book Value per Share
1,532
1,700
1,700
1,740
1,740
1,740
1,740
1,740
1,740
1,740
1,740
1,740
1,740
1,740
1,740
1,740
1,745
Basic Weighted Avg Shares
6,622
4,069
10,530
10,767
7,687
12,785
7,453
3,702
6,929
5,737
13,420
4,803
9,222
11,733
8,564
5,795
8,488
Sales/Revenue/Turnover
26.81
18.96
37.73
59.55
102.83
64.98
66.88
70.5
60.22
-11.32
24.58
38
37.25
49
41.77
-94.92
-50.28
Operating Margin (%)
262
647
731
107
145
166
133
107
95
73
76
73
66
70
74
67
67
Depreciation Expense
955
5,080
1,469
3,142
2,899
3,473
2,401
148
1,631
8,209
1,177
1,171
593
565
759
-6,304
-5,478
Net Income, GAAP
42.75
17.83
49.42
40.09
55.96
51.33
45.7
101.08
47.49
- -
56.32
40.39
78.34
87.4
73.06
- -
- -
Effective Tax Rate (%)
14.42
124.86
13.95
29.18
37.71
27.17
32.22
3.99
23.54
143.09
8.77
24.38
6.43
4.82
8.87
-108.78
-64.54
Profit Margin (%)
19,026
27,618
27,100
32,982
32,001
33,297
36,795
31,817
52,897
44,066
45,868
31,791
46,445
41,103
48,663
27,925
29,267
Working Capital
23,175
25,205
28,990
31,683
29,672
30,478
33,254
29,629
37,262
44,766
45,133
17,999
33,452
38,711
45,271
45,824
45,542
LT Debt
21,019
28,292
46,472
52,031
56,372
57,637
53,820
54,011
52,524
54,809
54,152
52,695
50,391
49,892
51,803
46,632
49,041
Total Equity
2.25
1.05
2.81
4.5
3.8
4.2
2.88
-0.03
2.35
- -
1.39
1.09
0.79
0.73
0.89
- -
- -
Return on Invested Capital (%)
2.44
10.5
2.77
4.47
3.49
3.93
3.09
0.11
2.26
- -
1.48
1.48
0.8
0.8
1.07
- -
- -
Return on Capital (%)
5.12
21.32
4.14
6.78
5.65
6.42
4.54
0.29
3.22
15.67
2.16
2.2
1.15
1.14
1.53
-13.28
-11.96
Return on Common Equity (%)

Capital Structure

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
6,269
7,954
8,361
LT Borrowings
45,824
45,987
45,542
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,740
1,740
1,740
Market Capitalization
34,806
30,716
47,597

Working Capital

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
44,513
43,332
44,755
Cash, Cash Equivalents & STI
15,863
14,716
16,711
Accounts Receivable, Net
239
282
280
Inventories
27,172
27,309
26,745
Total Current Liabilities
16,588
14,760
15,489
Payables & Accruals
- -
- -
- -
ST Debt
6,269
7,954
8,361
Deferred Revenue
- -
- -
- -

Growth Rates

TWD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-2.01%
-2.84%
-9.98%
Free Cash Flow
-506.26%
-903.6%
-103.53%
Net Income, GAAP
24.64%
-190.1%
-930.24%
Sales/Revenue/Turnover
10.75%
-0.87%
-32.33%
Total Cash Common Dividend
- -
- -
20%

Quarterly Revenue

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
4,177
761
2,697
929
8,564
2025
815
765
861
3,354
5,795
2026
2,068
2,205
- -
- -
- -

Quarterly Earnings Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.37
-0.25
0.03
0.29
0.44
2025
-0.15
-0.44
0.14
-3.18
-3.62
2026
0.02
-0.13
- -
- -
- -

Quarterly Dividends Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.2
2025
- -
- -
- -
- -
0.24
2026
- -
- -
- -
- -
- -
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Business
Sino Horizon Holdings Limited engages in the development, sale, leasing and management of real estate properties in mainland China and Taiwan. The company operates through real-estate sales, commercial leasing, property management, and others segments; its property portfolio encompasses residential housing, shopping malls such as Shanghai Rìyuèguāng Center, and office buildings primarily in Shanghai, Beijing and Chongqing. Incorporated in 2007 and headquartered at 450 Ruijin 2nd Road in Shanghai's Huangpu District, it focuses on the Greater China market with core offerings including development and sale of real estate properties; leasing of commercial offices and retail spaces; provision of property management services; and ancillary operations. In late October 2025, an indirectly owned subsidiary, Follow International Limited, entered into a syndicated loan agreement valued at approximately $570 million with a group of banks to support ongoing operations and development activities. The company continues to host promotional events at its commercial properties, such as seasonal mall activities at Shanghai Rìyuèguāng Center, underscoring its emphasis on retail leasing and customer engagement.