---
title: "明发集团(国际)有限公司 (00846.HK)"
type: "quote"
locale: "en"
url: "https://longbridge.com/en/quote/00846.HK.md"
symbol: "00846.HK"
name: "明发集团(国际)有限公司"
industry: "房地产开发"
---

# 明发集团(国际)有限公司 (00846.HK)

| Item | Detail |
|------|--------|
| Industry | 房地产开发 |
| Location | 港股市场 |
| Website | [www.ming-fa.com](https://www.ming-fa.com) |

## Company Profile

明发集团 (国际) 有限公司是一家主要从事房地产开发的投资控股公司。公司通过三个分部经营其业务。物业发展分部从事房地产开发业务，包括商业和住宅物业。酒店分部从事酒店经营业务。物业投资及管理分部投资物业并向住宅、酒店及商用物业提供管理及保安服务。其他经营分部主要包括家具制造和销售等。

## Financial Score

> *Longbridge Financial Score™ — Proprietary multi-factor rating model by [Longbridge](https://longbridge.com). This score is independently calculated by Longbridge and is not affiliated with any third-party rating agency.*
> Updated: 2026-02-16T04:30:11.000Z

**Overall: E (0.82)**

**Industry**: Real Estate Development

| Metric | Value |
|--------|-------|
| Industry Ranking | 112 / 126 |
| Industry Median | D |
| Industry Average | D |

- **Style**: Value - Stocks where the company's main business is in a mature stage.
- **Scale**: Small - The company's operation has a high degree of growth and volatility, making it easy to achieve high investment returns.

### Score Analysis

**Style Score**: 

#### Growth Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| Revenue YoY | -24.01% |  |
| Net Profit YoY | -157.86% |  |

#### Value Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| P/B Ratio | 0.04 |  |
| Dividend Ratio | 0.00% |  |


**Size Score**: 

#### Market Cap Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| Market Cap | 706.71M |  |

#### Revenue Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| Revenue | 6.44B |  |


**Multi Score**: E

#### Profit Score: D

| Indicator | Value | Rating |
|-----------|-------|--------|
| ROE | -12.56% | D |
| Profit Margin | -34.86% | E |
| Gross Margin | 23.56% | C |

#### Growth Score: E

| Indicator | Value | Rating |
|-----------|-------|--------|
| Revenue YoY | -24.01% | E |
| Net Profit YoY | -157.86% | E |
| Total Assets YoY | -9.19% | E |
| Net Assets YoY | -9.69% | D |

#### Cash Score: E

| Indicator | Value | Rating |
|-----------|-------|--------|
| Cash Flow Margin | -286.88% | D |
| OCF YoY | -24.01% | E |

#### Operating Score: E

| Indicator | Value | Rating |
|-----------|-------|--------|
| Turnover | 0.09 | E |

#### Debt Score: D

| Indicator | Value | Rating |
|-----------|-------|--------|
| Gearing Ratio | 72.28% | D |


```chart-data:radar
{
  "title": "Longbridge Financial Score - 明发集团(国际)有限公司",
  "chart_type": "radar",
  "dimensions": [
    {
      "name": "Profit",
      "grade": "D",
      "indicators": [
        {
          "name": "ROE",
          "value": "-12.56%",
          "rating": "D"
        },
        {
          "name": "Profit Margin",
          "value": "-34.86%",
          "rating": "E"
        },
        {
          "name": "Gross Margin",
          "value": "23.56%",
          "rating": "C"
        }
      ]
    },
    {
      "name": "Growth",
      "grade": "E",
      "indicators": [
        {
          "name": "Revenue YoY",
          "value": "-24.01%",
          "rating": "E"
        },
        {
          "name": "Net Profit YoY",
          "value": "-157.86%",
          "rating": "E"
        },
        {
          "name": "Total Assets YoY",
          "value": "-9.19%",
          "rating": "E"
        },
        {
          "name": "Net Assets YoY",
          "value": "-9.69%",
          "rating": "D"
        }
      ]
    },
    {
      "name": "Cash",
      "grade": "E",
      "indicators": [
        {
          "name": "Cash Flow Margin",
          "value": "-286.88%",
          "rating": "D"
        },
        {
          "name": "OCF YoY",
          "value": "-24.01%",
          "rating": "E"
        }
      ]
    },
    {
      "name": "Operating",
      "grade": "E",
      "indicators": [
        {
          "name": "Turnover",
          "value": "0.09",
          "rating": "E"
        }
      ]
    },
    {
      "name": "Security",
      "grade": "D",
      "indicators": [
        {
          "name": "Gearing Ratio",
          "value": "72.28%",
          "rating": "D"
        }
      ]
    }
  ]
}
```

### Peer Comparison

| Rank | Name | Profit | Growth | Operation | Security | Cash | Rating |
|------|------|--------|--------|-----------|----------|------|--------|
| 01 | 天安 (HK.28) | B | A | D | C | B | B |
| 02 | 汤臣集团 (HK.258) | B | A | E | C | B | B |
| 03 | 零在科技金融 (HK.93) | B | A | E | B | B | B |
| 04 | 华润置地 (HK.1109) | B | B | D | D | B | C |
| 05 | 长实集团 (HK.1113) | C | C | E | A | C | C |

## Valuation Analysis

| Metric | Current | Industry Ranking | High | Median | Low |
|--------|---------|-----------------|------|--------|-----|
| PE (TTM) | -0.31 | 74/127 | - | - | - |
| PB | 0.04 | 6/127 | 0.05 | 0.04 | 0.04 |
| PS (TTM) | 0.11 | 38/127 | 0.13 | 0.10 | 0.09 |
| Dividend Yield | 0.00% | - | - | - | - |

## References

- [Company Overview](https://longbridge.com/en/quote/00846.HK/overview.md) - Shareholders, executives, business segments
- [Financials](https://longbridge.com/en/quote/00846.HK/norm.md) - Income statement, balance sheet, cash flow, distribution plan
- [Topics & Discussions](https://longbridge.com/en/quote/00846.HK/topics.md) - Community topics and discussions

---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
