First Shanghai Investments Limited (0227) Fair Value & Analysis

Financial Services · HK · Market cap HK$361M

Below-average quality, screening 100% undervalued on our models.

What matters now

• The large discount to fair value meets weak quality (35/100). That raises the risk this is a value trap rather than a bargain.
• The price is below even our cautious bear case (HK$0.2420). 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.
• A fairly wide model range (HK$0.2420 to HK$0.4840) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 2, 2026.

How to read this chart

60‑month range HK$0.1000 – HK$0.6700 · fair‑value band HK$0.2420 – HK$0.4840 · the HK$0.1620 price screens below the HK$0.3240 fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

First Shanghai Investments Limited (0227) currently trades at HK$0.1620, while our model-based Fair Value estimate is HK$0.3240, implying the stock looks roughly 100.0% undervalued today. The Quality Score stands at 35/100 (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.

Over the trailing twelve months, First Shanghai Investments Limited generated revenue of HK$395M at a net margin of -23.8%. Revenue grew 22.7% year over year. It earns a return on equity of -3.7%. Net debt stands at HK$80.5M. Fundamentals as of Aug 2, 2026

Our scenario range runs from HK$0.2420 (bear case) to HK$0.4840 (bull case); at HK$0.1620, 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. The share trades about 69% below its 52-week high and 1% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 11% fair-value upside, at 100%, 0227 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.

Key figures & financial health

Quality Score breakdown

About the company

First Shanghai Investments Limited, an investment holding company, engages in financial services, direct investments, and property and hotel development businesses in Hong Kong, the People's Republic of China, and France. It operates through Financial Services, Property Development, Property Investment and Hotel, and Other businesses segments.

Full company description

First Shanghai Investments Limited, an investment holding company, engages in financial services, direct investments, and property and hotel development businesses in Hong Kong, the People's Republic of China, and France. It operates through Financial Services, Property Development, Property Investment and Hotel, and Other businesses segments. The company offers securities investment, securities brokerage, margin financing, corporate finance, underwriting and placements, insurance brokerage, asset management, wealth management, IPO subscription, shares custodian, financial intermediary, and nominee services. It also develops and manages residential, service apartment, commercial office, industrial office, hotel, and recreation resort properties. In addition, the company engages in container transportation and freight forwarding services; and provides financial leasing services, as well as container storage, containerization, and cargo transport. Further, it engages in development and commercialization of therapeutic drugs; money lending; provision of agency, management, and secretarial services; financial consultancy; internet financial service system; futures and stock broking; and operation of hotel and golf course. The company was incorporated in 1964 and is based in Central, Hong Kong.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

First Shanghai Investments Limited reported revenue of HK$412M in FY2025 versus HK$530M in FY2021, a compound −6.1%/yr. Reported net income was −HK$94.0M in FY2025.

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Peer Group

Capital Markets · 423 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.

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Frequently asked questions

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.