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Employees: 45
Size GC Construction (1489.HK) is a Hong Kong Consumer Discretionary company (Homebuilding) with a market value of $495M, the 754th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$3.88 on 6 Nov 2026.
Performance Over six months the shares gained 646.1%, against -11.2% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue fell 51.1% over the last twelve months (peer median +1.6%); the operating margin is -23.4% (peer median 8.2%).
Valuation It trades at 14.8× enterprise value to sales against a peer median of 1.3× (most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 30% a year for seven years (Req g). Recent delivered growth is -10%, so the hurdle is +40 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 34.8 points below its cost of capital (5.3% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$260M | HK$260M | HK$531M | HK$585M | HK$542M |
| Revenue growth | — | -51% | -9% | +8% | — |
| Gross profit | HK$4.11M | HK$3.46M | HK$1.57M | HK$40.8M | HK$64.7M |
| EBITDA | -HK$58.6M | -HK$58.6M | -HK$51.8M | HK$22.7M | HK$46.1M |
| Net income | -HK$60.8M | -HK$60.8M | -HK$53.5M | HK$19.1M | HK$49.3M |
| Free cash flow | HK$33.9M | HK$33.9M | -HK$71.3M | -HK$9.95M | -HK$43.3M |
| Capital expenditure | HK$506,000 | HK$506,000 | HK$273,000 | HK$2.44M | HK$2.54M |
| Total debt | n/a | HK$14.3M | HK$9.15M | HK$906,000 | HK$5.99M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 1489.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.4% | -3.7% | highest of 21 |
| 6-month return | +646.1% | -11.2% | highest of 21 |
| Distance from 52-week high | -15.6% | -29.5% | 5th highest of 21 |
| Revenue growth (TTM) | -51.1% | +1.6% | 3rd lowest of 20 |
| Operating margin | -23.4% | 8.2% | 2nd lowest of 20 |
| EV / Sales | 14.8× | 1.3× | most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 30.4% | -3.9% | most demanding of 14 |
| Growth delivered (Del g) | -10.0% | +3.8% | 2nd lowest of 14 |
| Hurdle (Req g minus delivered) | +40.4 pp | -5.7 pp | most demanding of 14 |
| ROIC minus cost of capital | -34.8 pp | -1.1 pp | lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| GC Construction 1489.HK | Hong Kong | $495M | +646% | -51% | -23% | 14.8× | 30.4% | -10.0% |
| Smith Douglas Homes SDHC | United States | $499M | -25% | 0% | 3% | 0.9× | n/a | n/a |
| Tama Home 1419.T | Japan | $486M | -26% | +2% | 2% | 0.5× | n/a | n/a |
| Hangzhou Landscaping 605303.SS | China | $484M | -17% | -34% | -27% | 7.5× | n/a | n/a |
| Nagawa 9663.T | Japan | $475M | -8% | +3% | 13% | 1.7× | 4.9% | +3.8% |
| China Wuyi 000797.SZ | China | $517M | -24% | +78% | -5% | 1.3× | -8.0% | +4.2% |
| BOXABL BXBL | United States | $466M | -81% | n/a | n/a | n/a | n/a | n/a |
| Mears MER.L | United Kingdom | $455M | +9% | +2% | 6% | 0.5× | -10.5% | +7.1% |
| YeaShin International Development 5213.TWO | Taiwan | $448M | -24% | -32% | 18% | 1.2× | n/a | n/a |
| Kaufman & Broad KOF.PA | France | $437M | -19% | 0% | 8% | 0.2× | -16.2% | -0.5% |
| Hovnanian Enterprises HOV | United States | $594M | -6% | -10% | 3% | 0.5× | 4.8% | +4.9% |
| Kindom Development 2520.TW | Taiwan | $600M | +15% | +10% | 16% | 1.1× | -13.2% | -3.5% |
| Prince Housing & Development 2511.TW | Taiwan | $393M | +1% | +21% | 6% | 1.5× | 0.2% | -4.8% |
| Shenzhen Centralcon Investment 000042.SZ | China | $637M | -34% | +116% | 14% | 1.0× | -14.2% | -24.7% |
| Atal 1AT.WA | Poland | $668M | -5% | +40% | 26% | 2.6× | -3.9% | +1.8% |
| Lifestyle Communities LIC.AX | Australia | $364M | -12% | +39% | 2% | 3.9× | 29.6% | +8.3% |
| Huang Hsiang Construction 2545.TW | Taiwan | $359M | -18% | -62% | 6% | 11.5× | n/a | n/a |
| King's Town Construction 2524.TW | Taiwan | $357M | -11% | -78% | 30% | 13.2× | n/a | n/a |
| Legacy Housing LEGH | United States | $694M | +25% | -3% | 33% | 3.7× | 3.5% | -1.4% |
| Inmobiliaria del Sur ISUR.MC | Spain | $351M | +4% | -5% | 17% | 2.6× | -0.2% | +18.9% |
| Cathay Real Estate Development 2501.TW | Taiwan | $719M | -9% | +14% | 19% | 0.8× | -20.7% | +11.7% |