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China New Economy Fund Ltd (0080) Fair Value & Analysis

Financial Services · HK · Market cap HK$588M (≈ $75.0M) · ISIN KYG211971687

What is China New Economy Fund Ltd really worth?

CN China New Economy Fund Ltd 0080 · HK
PriceHK$0.2700
Fair ValueHK$0.1000
Upside−63.0%
Quality35/100

Below-average quality, and trading another 170% above our fair value of HK$0.1000.

As of Aug 24, 2026, the fair value of China New Economy Fund Ltd is HK$0.1000 per share against a price of HK$0.2700, so the fair value sits 63% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Risks

!Weak Growth (revenue 5y +11.0 %/yr)
!Thin margins · 0.0% net margin
!negative free cash flow
!Trails peers (2/6)
!Narrow moat 0/100
!Evidence only low, so the estimate is less certain
Evidence: Low Range HK$0.0800 – HK$0.1300

Fair value as of: Aug 24, 2026

From 2 valuation models · updated 13 days ago

Share price +11.1% over the past month.

What runs behind every stock

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

What matters now

  • The price sits above even our optimistic bull case (HK$0.1300). The favourable scenario is already priced in.
  • Weak quality (35/100) 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.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Price vs Fair Value (5 years)

HK$0.6200 HK$0.0387 Fair Value HK$0.1000 Mar 2020 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 24, 2026.

How to read this chart

60‑month range HK$0.0387 – HK$0.6200 · fair‑value band HK$0.0800 – HK$0.1300 · the HK$0.2700 price screens above the HK$0.1000 fair value. Dashed = 300-day average. As of Aug 24, 2026.

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Analysis

China New Economy Fund Ltd (0080) currently trades at HK$0.2700, while our model-based Fair Value estimate is HK$0.1000, implying the stock looks roughly 170.0% overvalued today. The Quality Score stands at 35/100 (below-average quality), in the Financial Services sector. How firm this estimate is: it rests on 2 models at a data quality of 95/100, which puts the evidence level at low.

Trailing-twelve-month revenue stands at HK$22.8K. Revenue declined 49.0% year over year. It earns a return on equity of −19.8%. The balance sheet holds a net cash position of HK$27.5M. Fundamentals as of Aug 24, 2026

Our scenario range runs from HK$0.0800 (bear case) to HK$0.1300 (bull case); at HK$0.2700, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 59% below its 52-week high and 312% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at −63%, 0080 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model 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. Evidence
Highest evidence
P/B Multiple best evidence HK$0.0800 HK$0.1000 HK$0.1300 55
NCAV (Graham) HK$0.0600 HK$0.0800 HK$0.1200 51
All 2 models by family
Multiples
P/B Multiple best evidence HK$0.0800 HK$0.1000 HK$0.1300 55
Asset-Based
NCAV (Graham) HK$0.0600 HK$0.0800 HK$0.1200 51

Widest divergence: Multiples (HK$0.1000) versus Asset-Based (HK$0.0800). Highest evidence: P/B Multiple (55).

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Key figures & financial health

Return on equity −54.4% TTM
Return on assets (EBIT) −30.1% avg 5y
Operating margin −4,180% TTM
Revenue (TTM) HK$171K TTM
Revenue growth (YoY) +14.8%
Free cash flow −HK$213M FY2025
More key figures
Balance sheet & cash flow
Net cash HK$27.5M FY2025

Figures from reported company fundamentals · as of Aug 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 35/100

Of which business quality 47 · Market factors (momentum, volatility) 27

Profitability 20
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 79
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 19
Price trend over the last 3–12 months (market factor)
52W Momentum 15
Distance to the 52-week high (market factor)
Net Issuance 11
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

CAI Corp is a mutual fund launched and managed by CITIC Securities International Investment Management (HK) Limited. It invests in public equity markets. China New Economy Fund Limited is domiciled in Cayman Islands.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

China New Economy Fund Ltd reported revenue of −HK$5.2M in FY2025 versus −HK$35.9M in FY2021. Reported net income was −HK$31.7M in FY2025.

Growth Quality 29/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2018)
HK$9.4M
Avg. revenue growth/yr (3Y) 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.
−4.9%
Avg. revenue growth/yr (5Y) 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.
+11.0%
Avg. revenue growth/yr (7Y) 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.
+175.4%
EBIT 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.
241.6% (2013) → −102.0% (2018)
Value creation/yr 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
Revenue
FY21 −HK$35.9M
FY22 −HK$8.8M
FY23 −HK$59.0M
FY24 −HK$2.8M
FY25 −HK$5.2M
Net income
FY21 −HK$5.0M
FY22 −HK$52.7M
FY23 −HK$52.4M
FY24 −HK$29.0M
FY25 −HK$31.7M

0080 screens 170% overvalued. Compare with Blackstone Inc →

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Cite: Fair Value Calculator (2026). "China New Economy Fund Ltd Fair Value". https://www.fairvalue-calculator.com/stock/0080.HK

Peer Group

Asset Management · 695 stocks

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.

Quality Score 47 · Bottom 25%
Return on assets −5% · Bottom 25%
Net margin (TTM) 0% · Below median
Revenue growth 15% · Above median

Valuation Multiples vs Asset Management median · lower = cheaper

P/B 0.29× · Cheaper than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 40
FUTURE74 · sector 15
PAST0 · sector 24
HEALTH0 · sector 95
DIVIDEND0 · sector 81

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

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 Asset Management stocks, each showing price versus our Fair Value estimate (as of Aug 24, 2026).

Stock Price Fair Value vs Fair Value
Blackstone Inc BX $142.39 $52.88 −63%
Investor AB INVEB kr 408.05 kr 827.56 +103%
Brookfield Corporation BN C$55.74 C$10.67 −81%
KKR & Co KKR $108.68 $19.97 −82%
Apollo Global Management, Inc APO $135.04 $101.04 −25%
State Street Corporation STT $193.33 $138.33 −28%
Ameriprise Financial, Inc AMP $559.32 $515.24 −8%
Ares Management Corporation ARES $143.10 $30.88 −78%
Northern Trust Corporation NTRS $186.79 $122.02 −35%
Raymond James Financial, Inc RJF $181.10 $142.42 −21%

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Frequently asked questions

Is China New Economy Fund Ltd (0080) overvalued or undervalued?
As of Aug 24, 2026, our model estimates a fair value of HK$0.1000 versus a price of HK$0.2700, about −63% upside (overvalued).
What is the fair value of 0080?
Our model-based fair value for China New Economy Fund Ltd is HK$0.1000 (as of Aug 24, 2026), built from audited fundamentals. The current price: HK$0.2700.
What is the quality score of 0080?
China New Economy Fund Ltd has a Quality Score of 35/100. 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 China New Economy Fund Ltd (0080)?
Our model-based price target is the fair value of HK$0.1000 (as of Aug 24, 2026) from 2 valuation models. Cautious scenario HK$0.0800, optimistic scenario HK$0.1300. It is a calculation from audited fundamentals, not an analyst target.
What is the China New Economy Fund Ltd stock forecast for 2026?
Our models put fair value at HK$0.1000, about −63% upside versus a price of HK$0.2700 (overvalued). Cautious scenario HK$0.0800, optimistic scenario HK$0.1300. The calculation is refreshed regularly with new filings.
What is the revenue of China New Economy Fund Ltd (0080)?
China New Economy Fund Ltd reported trailing-twelve-month revenue of about HK$22.8K (latest available figure, as of Aug 24, 2026).
What is the net profit margin of 0080?
The net profit margin of China New Economy Fund Ltd is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. Based on the latest reported figures.
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