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Hong Kong holding company that has pivoted from construction into solar/EPC, smart energy management, and health/wellness and F&B supply chain businesses.
Hong Kong holding company that has pivoted from construction into solar/EPC, smart energy management, and health/wellness and F&B supply chain businesses.
Moat: none (scale). A small, recently repositioned holding company spanning unrelated segments without a clear leadership position.
Headquarters: North Point, Hong Kong · Founded: 1996 · Employees: 699
Size Central New Energy (1735.HK) is a Hong Kong Industrials company (Engineering & Construction) with a market value of $4.42B, the 278th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$8.21 on 6 Nov 2026.
Performance Over six months the shares fell 11.1%, against -8.7% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 76.2% over the last twelve months (peer median +9.4%); the operating margin is 0.5% (peer median 7.9%).
Valuation It trades at 63.1× forward earnings against a peer median of 18.5× (most expensive of 21).
Capital Return on invested capital runs 3.9 points below its cost of capital (5.3% WACC).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$13.3B | HK$11.0B | HK$6.03B | HK$4.03B | HK$1.61B |
| Revenue growth | — | +83% | +50% | +150% | — |
| Gross profit | HK$254M | HK$210M | HK$128M | HK$173M | HK$33.2M |
| EBITDA | HK$301M | HK$217M | HK$77.1M | HK$101M | -HK$46.7M |
| Net income | HK$29.4M | HK$34.2M | HK$106M | HK$66.3M | -HK$27.8M |
| Free cash flow | n/a | -HK$112M | -HK$687M | -HK$1.39B | -HK$152M |
| Capital expenditure | n/a | HK$340M | HK$695M | HK$767M | HK$78.4M |
| Total debt | n/a | HK$2.55B | HK$1.99B | HK$1.12B | HK$503M |
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 | 1735.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -25.1% | +0.2% | 3rd lowest of 21 |
| 6-month return | -11.1% | -8.7% | 10th lowest of 21 |
| Distance from 52-week high | -40.3% | -28.6% | 9th lowest of 21 |
| Revenue growth (TTM) | +76.2% | +9.4% | highest of 21 |
| Operating margin | 0.5% | 7.9% | lowest of 21 |
| Forward P/E | 63.1× | 18.5× | most expensive of 21 |
| ROIC minus cost of capital | -3.9 pp | +2.8 pp | 3rd lowest of 19 |
| Net debt / EBITDA | 4.6× | 0.9× | 2nd most indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Central New Energy 1735.HK | Hong Kong | $4.42B | -11% | +76% | 1% | 63.1× | n/a | n/a |
| Arcadis ARCAD.AS | Netherlands | $4.42B | +31% | -1% | 6% | 15.0× | 5.5% | +8.1% |
| INFRONEER 5076.T | Japan | $4.44B | +2% | +44% | 6% | 6.2× | 0.0% | +10.7% |
| Construction Partners ROAD | United States | $4.38B | -45% | +42% | 9% | 26.5× | 12.5% | +29.1% |
| Rail Vikas Nigam RVNL.NS | India | $4.27B | -37% | +5% | 4% | 46.0× | n/a | n/a |
| Offshore Oil Engineering 600583.SS | China | $4.22B | -6% | +7% | 8% | 12.1× | n/a | n/a |
| China Nuclear Engineering and Construction 601611.SS | China | $4.22B | -29% | -14% | 4% | 26.9× | n/a | n/a |
| Tutor Perini TPC | United States | $4.73B | +8% | +25% | 4% | 18.8× | 9.6% | +0.8% |
| MYR MYRG | United States | $4.09B | -40% | +23% | 6% | 18.1× | 14.0% | +10.2% |
| MAIRE MAIRE.MI | Italy | $4.81B | -12% | +7% | 7% | 14.7× | 2.9% | +22.1% |
| Budimex BDX.WA | Poland | $4.82B | +10% | +12% | 9% | 26.5× | 15.7% | +4.1% |
| VSE VSEC | United States | $4.85B | -10% | +23% | 12% | 22.1× | n/a | n/a |
| Guangdong Provincial Expressway Development 000429.SZ | China | $4.01B | +9% | +1% | 58% | 18.2× | n/a | n/a |
| Zhejiang Weiming Environment Protection 603568.SS | China | $4.01B | -27% | -25% | 36% | 11.0× | 6.4% | +15.0% |
| Exponent EXPO | United States | $3.99B | +37% | +15% | 21% | 32.6× | 10.8% | +7.8% |
| Wuxi Taiji Industry 600667.SS | China | $3.98B | +32% | -14% | 3% | 21.9× | 13.0% | +11.5% |
| Everus Construction ECG | United States | $3.91B | -53% | +33% | 8% | 12.2× | 13.9% | +11.5% |
| China Everbright Environment 0257.HK | Hong Kong | $3.91B | -11% | -5% | 29% | 7.0× | -0.1% | -8.5% |
| Argan AGX | United States | $3.89B | -59% | +29% | 15% | 20.5× | 0.3% | +19.2% |
| Guangdong Hongda 002683.SZ | China | $3.86B | -7% | +15% | 10% | 23.7× | 4.9% | +26.1% |
| Koninklijke BAM Groep BAMNB.AS | Netherlands | $3.85B | +37% | +7% | 3% | 11.5× | -5.2% | +0.8% |