Shenzhen Investment Holdings Bay Area Development Ltd (0737) fair value: what the stock is really worth
As of Nov 13, 2026: fair value (intrinsic value) of Shenzhen Investment Holdings Bay Area Development Ltd stock HK$1.61, price HK$1.90, that is 15.3% below the price, quality 64 out of 100. Rating: overvalued. Calculated from audited financials with 20 of our 26 valuation models and 37 quality factors, updated daily.
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Shenzhen Investment Holdings Bay Area Development Ltd
0737 · HKExpensive (fair value 15% below the price), but solid company and rising price: meets 2 of 3 rules.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 12, 2026.
How to read this chart
60‑month range HK$1.05 – HK$2.11 · fair‑value band HK$1.23 – HK$1.78 · the HK$1.90 price screens above the HK$1.61 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 12, 2026.
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Company profile
Shenzhen Investment Holdings Bay Area Development Company Limited, an investment holding company, initiates, promotes, develops, and operates toll expressways and bridges in the People's Republic of China.
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It operates through Coastal Expressway (Shenzhen Section), GS Superhighway, GZ West Superhighway, and Xintang Interchange segments. The company operates toll expressway projects comprising Guangzhou-Shenzhen superhighway and Guangzhou-Zhuhai West superhighway, and Guangshen coastal expressway.
In addition, it is involved in the land development and utilization project activities; investment, construction, and operation of expressways; and loan finance activities.
The company was formerly known as Hopewell Highway Infrastructure Limited and changed its name to Shenzhen Investment Holdings Bay Area Development Company Limited in June 2019.
Shenzhen Investment Holdings Bay Area Development Company Limited was incorporated in 2003 and is based in Wan Chai, Hong Kong. As of January 11, 2022, Shenzhen Investment Holdings Bay Area Development Company Limited operates as a subsidiary of Mei Wah Industrial (Hong Kong) Limited.
Stock analysis
Shenzhen Investment Holdings Bay Area Development Ltd (0737) currently trades at HK$1.90, while our model-based Fair Value estimate is HK$1.61, 15% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of HK$2.55 per share, and 5 of the 19 models we run sit above the HK$1.90 price.
Bear case: the Earnings-Based group reads lowest at HK$0.7650, and 14 of the 19 models stay below the price. Data coverage for this calculation is low.
Scenario range: HK$1.23 (bear) to HK$1.78 (bull), the price of HK$1.90 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 64/100 (solid quality), in the Industrials sector.
Mixed Growth: Spin-off in 2016: revenue and profit before it include the divested business. Growth is measured afresh from 2016.
Shenzhen Investment Holdings Bay Area Development Ltd reported revenue of 766M CNY in FY2026 versus 614M CNY in FY2022, a compound +5.7%/yr. Reported net income was 455M CNY in FY2026, compounding −10.6%/yr from FY2022.
Key figures
Market cap HK$6.3B (≈ $807M) Small · P/E ratio 10.0 · P/S ratio 4.83 · EPS (TTM) HK$0.1281 · Dividend yield 8.5% · Net margin 63.2% · Return on equity 7.9% · Return on assets (EBIT) 1.6% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 65 out of 100 (low confidence).
What moves the price
The share trades about 5% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 9% fair-value upside, at −15%, 0737 screens richer than that median.
Fair Value models
All 20 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
Growth Forecast
0737 screens overvalued: fair value 15% below the price. Compare with Transurban Group →
Compare Shenzhen Investment Holdings Bay Area Development Ltd with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Infrastructure Operations · 64 stocks
Valuation Multiplesvs Infrastructure Operations median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Debt-to-equity by industry
- Price/FCF by industry
- Piotroski F-Score screener with fair value
- Undervalued stocks: Industrials
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Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Infrastructure Operations stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Zhejiang Expressway Co 0576 | HK$6.36 | HK$16.46 | +159% | vs 0737 |
| China Merchants Expressway Network & Technology Holdings 001965 | ¥10.26 | ¥13.02 | +27% | vs 0737 |
| Anhui Expressway Company 600012 | ¥17.45 | ¥19.49 | +12% | vs 0737 |
| IRB Infrastructure Developers Limited IRB | ₹18.78 | ₹20.64 | +10% | vs 0737 |
| Shenzhen Expressway Corporation 600548 | ¥8.72 | ¥9.51 | +9% | vs 0737 |
| Guangdong Provincial Expressway Development Co 000429 | ¥13.79 | ¥14.98 | +9% | vs 0737 |
| Sichuan Expressway Company 601107 | ¥7.23 | ¥7.73 | +7% | vs 0737 |
| Jiangsu Expressway Company 600377 | ¥14.11 | ¥14.47 | +3% | vs 0737 |
| Shandong Hi-speed Company 600350 | ¥11.22 | ¥8.02 | −29% | vs 0737 |
| Transurban Group TCL | A$15.00 | A$4.92 | −67% | vs 0737 |
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Key figures of Shenzhen Investment Holdings Bay Area Development Ltd
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