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Bonny International Holding Ltd (1906) fair value: what the stock is really worth

As of Nov 9, 2026: fair value (intrinsic value) of Bonny International Holding Ltd stock HK$0.16, price HK$1.32, that is 87.9% below the price, quality 32 out of 100. Rating: strongly overvalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

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Consumer Cyclical HK · ISIN KYG1449A1076

BI Bonny International Holding Ltd logo Thin data Nov 8, 2026

Bonny International Holding Ltd

1906 · HK
Very expensive, weak quality

Our calculation puts a fair price 88% below what the stock costs today.

Low debt
Revenue last quarter 16% below a year ago.
Fair value HK$0.1600 · Strongly overvalued
Quality 32/100
Weak Growth (revenue 5y −4.2 %/yr in CNY)
Loss-making · -22.6% net margin (TTM)
Negative free cash flow
Trails peers (0/10)
Narrow moat 6/100 · thin data
Thin data
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

HK$1.75 HK$0.2330 Fair Value HK$0.1600 Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.

How to read this chart

60‑month range HK$0.2330 – HK$1.75 · fair‑value band HK$0.1200 – HK$0.2400 · the HK$1.32 price screens above the HK$0.1600 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.

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Company profile

Bonny International Holding Limited, an investment holding company, engages in the design, research and development, production, and sales of intimate wear products. It operates in two segments, Original Design Manufacture (ODM) Products and Brand Products.

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The ODM Products segment manufactures and sells seamless underwear or other ODM products to overseas customers or their agents. The Brand Products segment manufactures and sells ladies brassieres, panties, thermal underwear, under the Bonny and U+Bonny brand names.

It also offers functional sportswear; operates self-operated retail outlets comprising self-operated concession counters and standalone stores; and franchised retail outlets covering provinces, municipalities, and autonomous regions in the People's Republic of China.

In addition, the company provides its products through its e-commerce network and various e-commerce platforms. It operates in Mainland China, the United States, Germany, Canada, the Netherlands, Mexico, Britain, Australia, and Korea, internationally.

Bonny International Holding Limited was incorporated in 2017 and is based in Wan Chai, Hong Kong.

Stock analysis

Bonny International Holding Ltd (1906) currently trades at HK$1.32, while our model-based Fair Value estimate is HK$0.1600, 88% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the data coverage at low.

Scenario range: HK$0.1200 (bear) to HK$0.2400 (bull), the price of HK$1.32 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 32/100 (below-average quality), in the Consumer Cyclical sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Bonny International Holding Ltd reported revenue of 232M CNY in FY2025 versus 249M CNY in FY2021, a compound −1.7%/yr. Reported net income was −56.8M CNY in FY2025.

Key figures

Market cap HK$1.9B (≈ $242M) Micro · P/S ratio 10.3 · Net margin −24.5% · Return on equity −14.5% · Return on assets (EBIT) −4.9% (5-year average) · Operating margin −12.3% · Revenue (TTM) 213M CNY · Revenue growth (YoY) −16.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 6 out of 100 (low confidence).

What moves the price

The share trades about 25% below its 52-week high and 222% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at −7% fair-value upside, at −88%, 1906 screens richer than that median.

Fair Value models

Bear HK$0.1200 Fair Value HK$0.1600 Bull HK$0.2400
Price HK$1.32 · Downside -87.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
NCAV (Graham) HK$0.1200 HK$0.1600 HK$0.2400 54
All 1 models by family
Asset-Based
NCAV (Graham) HK$0.1200 HK$0.1600 HK$0.2400 54

Open the full fair value analysis →

Quality Score breakdown

Overall quality 32/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 8
How much profit the company makes from its sales and capital
Quality Growth 15
Are margins and returns getting better?
Cashflow 18
Do the profits arrive as real cash?
Financial strength 61
Debt, balance sheet and risk of trouble
Investment 60
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Price momentum 100
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 84
Distance to the 52-week high, does not count
New shares 44
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 0/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−13.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−4.2%
Start year 2020 (pandemic)
Revenue growth 9 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−3.7%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−5.2% (2019) → −8.1% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

1906 screens overvalued: fair value 88% below the price. Compare with Ralph Lauren Corporation →

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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.Apparel Manufacturing · 213 stocks

Beats the industry median on 0/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 32 · Bottom 25%
Fair Value upside −87.9% · Bottom 25%
Profitability
Return on assets −9.1% · Bottom 25%
Net margin (12 months) −22.6% · Bottom 25%
Operating margin (12 months) −12.3% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −16.2% · Bottom 25%
Balance sheet
Debt / equity 0.30× · Highest 25%

Valuation Multiplesvs Apparel Manufacturing median · lower = cheaper

P/B 5.44× · Priciest 25%
P/S (12 months) 7.58× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 40
FUTURE (revenue growth)0 · sector 14
PAST (return on equity)0 · sector 22
HEALTH (low debt)85 · sector 98
DIVIDEND (yield)0 · sector 64

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Apparel Manufacturing stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Hla Group 600398 ¥6.16 ¥11.97 +94% vs 1906
Bosideng International Holdings 3998 HK$4.49 HK$7.49 +67% vs 1906
Kontoor Brands, Inc KTB $77.06 $86.80 +13% vs 1906
Moncler S.p.A MONC €45.37 €50.69 +12% vs 1906
Gildan Activewear Inc GIL $34.75 $32.49 −7% vs 1906
LPP SA LPP 27,600 PLN 20,032 PLN −27% vs 1906
Levi Strauss & Co LEVI $22.87 $16.24 −29% vs 1906
Youngor Fashion Co 600177 ¥8.40 ¥5.59 −33% vs 1906
Ralph Lauren Corporation RL $376.56 $226.91 −40% vs 1906
V.F. Corporation VFC $20.35 $11.04 −46% vs 1906

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Bonny International Holding Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Bonny International Holding Ltd Fair Value". https://www.fairvalue-calculator.com/stock/1906

Frequently asked questions

Is Bonny International Holding Ltd (1906) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of HK$0.1600 versus a price of HK$1.32, about 88% lower (overvalued).
What is the fair value of 1906?
Our model-based fair value for Bonny International Holding Ltd is HK$0.1600 (as of Nov 8, 2026), built from audited fundamentals. The current price: HK$1.32.
What is the quality score of 1906?
Bonny International Holding Ltd has a Quality Score of 32/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Bonny International Holding Ltd (1906)?
Our model-based price target is the fair value of HK$0.1600 (as of Nov 8, 2026) from 1 valuation models. Cautious scenario HK$0.1200, optimistic scenario HK$0.2400. It is a calculation from audited fundamentals, not an analyst target.
What is the Bonny International Holding Ltd stock forecast for 2026?
Our models put fair value at HK$0.1600, about 88% lower versus a price of HK$1.32 (overvalued). Cautious scenario HK$0.1200, optimistic scenario HK$0.2400. The calculation is refreshed regularly with new filings.
What is the revenue of Bonny International Holding Ltd (1906)?
Bonny International Holding Ltd reported trailing-twelve-month revenue of about 213M CNY (latest available figure, as of Nov 8, 2026).
What is the intrinsic value of Bonny International Holding Ltd (1906)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bonny International Holding Ltd it is HK$0.1600 per share (as of Nov 8, 2026), against a price of HK$1.32. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Bonny International Holding Ltd stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 1906 trades above its calculated fair value: price HK$1.32, fair value HK$0.1600, a gap of about −88% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 1906?
No. The price is what the market pays today (HK$1.32); the fair value is what the company's own numbers justify (HK$0.1600). For Bonny International Holding Ltd the two are HK$1.16 per share apart. That gap is exactly why we show both numbers side by side.
How much is Bonny International Holding Ltd worth?
The market values Bonny International Holding Ltd at about HK$1.9B (market capitalisation, as of Nov 8, 2026). Per share that is HK$1.32; our models calculate a fair value of HK$0.1600 per share.
What do the bullish and bearish scenarios say about 1906?
Our models span a range for Bonny International Holding Ltd: cautious scenario HK$0.1200, base HK$0.1600, optimistic HK$0.2400 per share (as of Nov 8, 2026, price HK$1.32). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Bonny International Holding Ltd (1906)?
Balance-sheet figures for Bonny International Holding Ltd (as of Nov 8, 2026): return on equity −14.5%, debt of 0.30 per unit of equity. They feed the Quality Score of 32/100, which measures business quality independently of the share price.
How far is 1906 from its 52-week high?
Bonny International Holding Ltd trades at HK$1.32, about 25% below its 52-week high of HK$1.75 and 222% above the low of HK$0.4100 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.1600 is for.
Which stocks are comparable to Bonny International Holding Ltd?
From the same area (Consumer Cyclical) we also value Ralph Lauren Corporation, Moncler S.p.A, LPP SA, Levi Strauss & Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Bonny International Holding Ltd stock attractive at the current price?
The data as of Nov 8, 2026: price HK$1.32, calculated fair value HK$0.1600 (−88%), Quality Score 32/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 1906 calculated?
We run Bonny International Holding Ltd through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of HK$0.1600 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Bonny International Holding Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Bonny International Holding Ltd (1906)?
The closing price on Nov 9, 2026 was HK$1.32. Our model-based fair value is HK$0.1600, about 88% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bonny International Holding Ltd right now?
The price sits above even our optimistic bull case (HK$0.2400). The favourable scenario is already priced in. Weak quality (32/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (HK$0.1200 to HK$0.2400) leaves room in how you read the outcome.

Key figures of Bonny International Holding Ltd

How large is the market capitalisation of Bonny International Holding Ltd (1906)?
The market capitalisation of Bonny International Holding Ltd is HK$1.9B (≈ $242M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Bonny International Holding Ltd (1906)?
The price-to-sales ratio of Bonny International Holding Ltd is 10.3 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Bonny International Holding Ltd (1906)?
The net margin of Bonny International Holding Ltd is −24.5% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Bonny International Holding Ltd (1906)?
The return on equity (ROE) of Bonny International Holding Ltd is −14.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Bonny International Holding Ltd (1906)?
On an EBIT basis the return on assets of Bonny International Holding Ltd is −4.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Bonny International Holding Ltd (1906)?
The operating margin of Bonny International Holding Ltd is −12.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bonny International Holding Ltd (1906)?
Revenue at Bonny International Holding Ltd is growing −16.2% versus a year earlier (3y avg +12.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Bonny International Holding Ltd (1906)?
Earnings per share at Bonny International Holding Ltd are growing +743% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Bonny International Holding Ltd (1906) generate?
The free cash flow of Bonny International Holding Ltd is −26.9M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Bonny International Holding Ltd (1906) carry?
The net debt of Bonny International Holding Ltd is 207M CNY (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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