Binhai Investment Company Limited logo

Binhai Investment Company Limited

2886.HK

HKSEUtilitiesRegulated Gas

Latest quote

HK$1.06

−HK$0.02 · -1.85%

Aug 24, 10:33 AM HKT

2886.HK company overview

Regular session · HKT · Market data may be delayed.

Company profile

Company website

Binhai Investment Company Limited operates as an investment holding enterprise, primarily engaged in Hong Kong's energy sector. The company's core activities include establishing gas pipeline infrastructure, offering connection services, and distributing both liquefied petroleum gas (LPG) and natural gas delivered via pipelines. Its business is segmented across several areas: the sale of piped natural gas, gas pipeline construction and installation services, gas transmission services, and the distribution of bottled natural gas. Leveraging its expansive pipeline network, Binhai Investment provides gas supplies to a wide range of customers, including residential households and industrial facilities. Additionally, the company constructs gas pipelines and furnishes installation services to commercial and industrial clients, as well as property developers and management companies. By the close of 2021, its gas pipeline network spanned an impressive 3,574 kilometers. Beyond its energy operations, Binhai Investment also holds interests in property development. The company was established in 1994 and maintains its principal office in Causeway Bay, Hong Kong.

Industry
Regulated Gas
Sector
Utilities
Headquarters
HK
CEO
Wang Zhang
Listed since
Mar 16, 2000
Employees
1,786

Market position

Day range

Current HK$1.06

52-week range

Current HK$1.06

Open
HK$1.065
Previous close
HK$1.08
Volume
152K
0.95× average
Average volume
160.31K
Average daily volume
Market cap
1.45B HKD
Beta
0.33
Market reference 1
50-day average
HK$1.063
-0.28% below average
200-day average
HK$1.1071
-4.25% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
4.4B HKD
P/E (TTM)
6.86×
P/B (TTM)
0.66×
P/S (TTM)
0.26×
EV / EBITDA
8.45×
Earnings yield
12.71%
Free cash flow yield
6.61%
Dividend yield
7.89%

Profitability & efficiency

Gross margin
9.27%
Operating margin
5.27%
Net margin
3.68%
Return on equity
9.47%
Return on assets
2.79%
Return on invested capital
3.87%

Financial health

Debt / equity
1.35×
Current ratio
0.28×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends19%13%8%2%Gross margin, FY2021: 17.66%Gross margin, FY2022: 11.92%Gross margin, FY2023: 11.69%Gross margin, FY2024: 9.19%Gross margin, FY2025: 10.31%Operating margin, FY2021: 12.13%Operating margin, FY2022: 8.00%Operating margin, FY2023: 7.81%Operating margin, FY2024: 6.72%Operating margin, FY2025: 5.37%Net margin, FY2021: 8.25%Net margin, FY2022: 5.34%Net margin, FY2023: 4.01%Net margin, FY2024: 3.22%Net margin, FY2025: 3.68%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 17.66%. Gross margin FY2022 11.92%. Gross margin FY2023 11.69%. Gross margin FY2024 9.19%. Gross margin FY2025 10.31%. Operating margin FY2021 12.13%. Operating margin FY2022 8.00%. Operating margin FY2023 7.81%. Operating margin FY2024 6.72%. Operating margin FY2025 5.37%. Net margin FY2021 8.25%. Net margin FY2022 5.34%. Net margin FY2023 4.01%. Net margin FY2024 3.22%. Net margin FY2025 3.68%.

Income trends

Revenue

5.61B HKD-9.54%

Operating income

301.06M HKD-27.71%

Net income

206.15M HKD+3.19%
Income trends across reported periods7.03B HKD4.54B HKD2.06B HKD−420.92M HKDRevenue, FY2021: 4.84B HKDRevenue, FY2022: 6.1B HKDRevenue, FY2023: 6.41B HKDRevenue, FY2024: 6.2B HKDRevenue, FY2025: 5.61B HKDOperating income, FY2021: 587.67M HKDOperating income, FY2022: 487.98M HKDOperating income, FY2023: 500.33M HKDOperating income, FY2024: 416.45M HKDOperating income, FY2025: 301.06M HKDNet income, FY2021: 399.66M HKDNet income, FY2022: 325.83M HKDNet income, FY2023: 256.61M HKDNet income, FY2024: 199.78M HKDNet income, FY2025: 206.15M HKDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 4.84B HKD. Revenue FY2022 6.1B HKD. Revenue FY2023 6.41B HKD. Revenue FY2024 6.2B HKD. Revenue FY2025 5.61B HKD. Operating income FY2021 587.67M HKD. Operating income FY2022 487.98M HKD. Operating income FY2023 500.33M HKD. Operating income FY2024 416.45M HKD. Operating income FY2025 301.06M HKD. Net income FY2021 399.66M HKD. Net income FY2022 325.83M HKD. Net income FY2023 256.61M HKD. Net income FY2024 199.78M HKD. Net income FY2025 206.15M HKD.
Metric (HKD)FY2025FY2024FY2023FY2022FY2021
Revenue5.61B HKD6.2B HKD6.41B HKD6.1B HKD4.84B HKD
Cost of goods sold5.14B HKD5.63B HKD5.66B HKD5.38B HKD3.99B HKD
Gross profit577.98M HKD569.48M HKD748.98M HKD727.32M HKD855.44M HKD
Research and development84.06M HKD112.55M HKD119.36M HKD42M HKD38M HKD
Selling, general, and administrative223.48M HKD215.02M HKD350.19M HKD284.1M HKD336M HKD
Operating expenses248.44M HKD153.02M HKD248.65M HKD239.34M HKD267.77M HKD
Interest income2.79M HKD17.86M HKD6.61M HKD10.33M HKD3.74M HKD
Interest expense75.18M HKD138.56M HKD163.01M HKD116.9M HKD104.62M HKD
Depreciation and amortization219.82M HKD201.73M HKD221.51M HKD201.3M HKD190.53M HKD
Operating income301.06M HKD416.45M HKD500.33M HKD487.98M HKD587.67M HKD
Net income206.15M HKD199.78M HKD256.61M HKD325.83M HKD399.66M HKD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
0%
0 beats, 2 misses, 0 met estimates
Average EPS surprise
-11.78%
2 comparable reports
Latest EPS result
0.02

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.260.180.10.02Q3 '22MissQ1 '23No estimateQ3 '23No estimateQ1 '24No estimateQ3 '24No estimateQ1 '25No estimateQ3 '25No estimateQ1 '26No estimate
Q3 2022, reported Aug 11, 2022: actual 0.19, estimate 0.22, surprise -13.50%, Miss. Q1 2023, reported Mar 23, 2023: actual 0.05, estimate —, surprise —, Comparison unavailable. Q3 2023, reported Aug 17, 2023: actual 0.123, estimate —, surprise —, Comparison unavailable. Q1 2024, reported Mar 25, 2024: actual 0.125, estimate —, surprise —, Comparison unavailable. Q3 2024, reported Aug 21, 2024: actual 0.124, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Mar 21, 2025: actual 0.023, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 22, 2025: actual 0.125, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Mar 20, 2026: actual 0.025, estimate —, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates6.9B5.39B3.88B2.36BQ3 '22MissQ1 '23MissQ3 '23MissQ1 '24MissQ3 '24MissQ1 '25No estimateQ3 '25No estimateQ1 '26No estimate
Q3 2022, reported Aug 11, 2022: actual 3.05B HKD, estimate 5.38B HKD, surprise -43.41%, Miss. Q1 2023, reported Mar 23, 2023: actual 3.06B HKD, estimate 5.85B HKD, surprise -47.74%, Miss. Q3 2023, reported Aug 17, 2023: actual 3.12B HKD, estimate 5.85B HKD, surprise -46.65%, Miss. Q1 2024, reported Mar 25, 2024: actual 3.51B HKD, estimate 6.59B HKD, surprise -46.73%, Miss. Q3 2024, reported Aug 21, 2024: actual 3.5B HKD, estimate 6.59B HKD, surprise -46.97%, Miss. Q1 2025, reported Mar 21, 2025: actual 2.7B HKD, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 22, 2025: actual 2.93B HKD, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Mar 20, 2026: actual 2.68B HKD, estimate —, surprise —, Comparison unavailable.

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