Smart Fish Wealthlink Holdings (0139) Fair Value & Analysis
Financial Services · HK · Market cap HK$172M
Fair value as of: Aug 13, 2026
From 2 valuation models · updated 2 days ago
Share price +14.3% over the past month.
Below-average quality, screening 72% undervalued on our models.
What matters now
- The price is below even our cautious bear case (HK$0.1292). The market is more pessimistic than our downside scenario.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- Solid quality (48/100) at a price below fair value, the discount is the argument here, not the business quality.
- 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)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range HK$0.0570 – HK$2.75 · fair‑value band HK$0.1292 – HK$0.2168 · the HK$0.1040 price screens below the HK$0.1785 fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Smart Fish Wealthlink Holdings (0139) currently trades at HK$0.1040, while our model-based Fair Value estimate is HK$0.1785, implying the stock looks roughly 71.6% undervalued today. The Quality Score stands at 48/100 (below-average quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: low), always confirm before acting.
Revenue grew 35.8% year over year. It earns a return on equity of -26.2%. Net debt stands at HK$38.0M. Fundamentals as of Aug 13, 2026
Our scenario range runs from HK$0.1292 (bear case) to HK$0.2168 (bull case); at HK$0.1040, the current price sits below 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. For context, the median of 10 Financial Services peers we cover trades at -22% fair-value upside, at 72%, 0139 screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.
All 2 models by family
Widest divergence: Multiples (HK$0.5000) versus Asset-Based (HK$0.3900). Highest evidence: P/B Multiple (55).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 52 · Market factors (momentum, volatility) 18
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.
About the company
Smart Fish Wealthlink Holdings Limited, together with its subsidiaries, provides various financial services in Hong Kong and China. It operates in two segments, Financial Investments and Services, and Brokerage and Commission.
Full company description
Smart Fish Wealthlink Holdings Limited, together with its subsidiaries, provides various financial services in Hong Kong and China. It operates in two segments, Financial Investments and Services, and Brokerage and Commission. The company offers securities and futures brokerage trading, margin financing, and securities underwriting, research, and contract services; asset managment, including fund adminstration and services, front office support, and investment advice; and money lending. It also provides debt financing services; value-added services, such as market making, risk hedging, structural product design, and investment consulting; public and directional bond issuance, as well as subordinated debt issuance services; underwriting and rating advisory services; sales and trading services for offshore fixed income products and derivatives; and research products and services for macro strategy, fixed income, and financial engineering. In addition, the company is involved in property investments; provision of administrative services; development of customised clothing brand in live streaming; and operation service for short drama platforms. It serves individual and institutional clients. The company was formerly known as Central Wealth Group Holdings Limited and changed its name to Smart Fish Wealthlink Holdings Limited in June 2025. Smart Fish Wealthlink Holdings Limited was incorporated in 1993 and is headquartered in Causeway Bay, Hong Kong.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Smart Fish Wealthlink Holdings reported revenue of −HK$13.7M in FY2025 versus HK$244M in FY2021. Reported net income was −HK$137M in FY2025.
Watch 0139: get an alert when its fair value changes →
Peer Group
Capital Markets · 426 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.
Valuation Multiples vs Capital Markets median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Capital Markets stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Mirae Asset Securities Co 006800 | 38,050 KRW | 18,009 KRW | -53% |
| Meritz Financial Group 138040 | 118,600 KRW | 52,717 KRW | -56% |
| Korea Investment Holdings 071050 | 200,500 KRW | 189,335 KRW | -6% |
| NH Investment & Securities Co 005940 | 28,550 KRW | 22,396 KRW | -22% |
| Samsung Securities Co 016360 | 93,100 KRW | 75,573 KRW | -19% |
| Kiwoom Securities Co 039490 | 299,000 KRW | 214,812 KRW | -28% |
| SSI Securities Corporation SSI | 25,300 VND | 17,375 VND | -31% |
| Bolsas y Mercados Argentinos S.A BYMA | 313.75 ARS | 294.30 ARS | -6% |
| Daishin Securities Co 003540 | 26,950 KRW | 48,790 KRW | +81% |
| SK Securities Co 001515 | 4,285 KRW | 1,395 KRW | -67% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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