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Citychamp Watch & Jewellery Group (0256) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$261M

CW Citychamp Watch & Jewellery Group 0256 · HK
PriceHK$0.0850
Fair ValueHK$0.0558
Upside-34.4%
Quality43/100
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Weak Growth
Loss-making · -16.3% net margin
Low debt · negative free cash flow
Trails peers (2/9)
Narrow moat 15/100
Evidence: Medium Range HK$0.0554 – HK$0.0562 Share as image

Fair value as of: Aug 2, 2026

From 8 valuation models · updated 8 days ago

Fair value updated Aug 2, 2026, revised from HK$0.0541 to HK$0.0558 (+3.1%) since Jul 1, 2026. Share price +11.8% over the past month.

Below-average quality, and screening another 34% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$0.0562). The favourable scenario is already priced in.
  • Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The models converge in a tight band (HK$0.0554 to HK$0.0562), unusually little disagreement for a valuation.
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Price vs Fair Value (5 years)

HK$1.73 HK$0.0600 Fair Value HK$0.0558 Mar 2021 Aug 2026

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$0.0600 – HK$1.73 · fair‑value band HK$0.0554 – HK$0.0562 · the HK$0.0850 price screens above the HK$0.0558 fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Citychamp Watch & Jewellery Group (0256) currently trades at HK$0.0850, while our model-based Fair Value estimate is HK$0.0558, implying the stock looks roughly 34.4% overvalued today. The Quality Score stands at 43/100 (below-average quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Citychamp Watch & Jewellery Group generated revenue of HK$1.3B at a net margin of -16.3%. Revenue declined 12.9% year over year. It earns a return on equity of -6.1%. The balance sheet holds a net cash position of HK$6.5B. Fundamentals as of Aug 2, 2026

Our scenario range runs from HK$0.0554 (bear case) to HK$0.0562 (bull case); at HK$0.0850, 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. For context, the median of 10 Consumer Cyclical peers we cover trades at -41% fair-value upside, at -34%, 0256 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.

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
ROIC Compounder HK$0.0551 HK$0.0558 HK$0.0564 72
Gordon GGM HK$0.0133 HK$0.0165 HK$0.0193 70
DDM Multi-Stage HK$0.0133 HK$0.0168 HK$0.0203 61
All 8 models by family
Earnings-Based
EPV HK$0.0551 HK$0.0558 HK$0.0564 59
Dividend Discount
Gordon GGM HK$0.0133 HK$0.0165 HK$0.0193 70
DDM Multi-Stage HK$0.0133 HK$0.0168 HK$0.0203 61
Multiples
EV/EBIT HK$0.0608 HK$0.0643 HK$0.0675 53
EV/EBITDA HK$0.0643 HK$0.0687 HK$0.0732 54
EV/Revenue HK$0.0573 HK$0.0605 HK$0.0634 43
Asset-Based
NCAV (Graham) HK$0.0143 HK$0.0193 HK$0.0285 50
Economic Profit
ROIC Compounder HK$0.0551 HK$0.0558 HK$0.0564 72

Widest divergence: Multiples (HK$0.0643) versus Dividend Discount (HK$0.0165). Highest evidence: ROIC Compounder (72).

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Key figures & financial health

Revenue (TTM) HK$1.3B
Revenue growth (YoY) -12.9%
Net margin -16.3%
Return on equity -6.1%
Free cash flow −HK$21.8M FY2025
Operating margin 7.5%
More key figures
EPS (TTM) HK$-0.0100
EPS growth (YoY) -65.1%
Net cash HK$6.5B FY2025

Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 43/100

Of which business quality 41 · Market factors (momentum, volatility) 24

Profitability 5
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 9
Earnings quality: real cash, not paper profit
Fin. Strength 45
Balance sheet, leverage, solvency risk
Investment 86
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 4
Distance to the 52-week high (market factor)
Net Issuance 82
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.

About the company

Citychamp Watch & Jewellery Group Limited, an investment holding company, manufactures, sells, and distributes watches and timepieces in Hong Kong, the People's Republic of China, Switzerland, the United Kingdom, Liechtenstein, and internationally.

Full company description

Citychamp Watch & Jewellery Group Limited, an investment holding company, manufactures, sells, and distributes watches and timepieces in Hong Kong, the People's Republic of China, Switzerland, the United Kingdom, Liechtenstein, and internationally. It operates through Manufacturing and Distribution of Watches and Timepieces and Watch Accessories; Property Investments; and Banking and Financial Businesses segments. The company offers watches and timepieces under the Rossini, Corum, Eterna, Dreyfuss & Co, J&T Windmills, rotary, EBOHR, and Ernest Borel brands. It is also involved in the property investment activities; distribution of glasses; designing, development, and manufacturing of stainless-steel alloy watches cases and smartwatches cases; assets management, accepting client deposits, and making investment and granting loan; and issuance of bonds, and provision of investment fund services. In addition, it engages in the provision of investment counselling services, as well as acting as technical administrator of fund units, acting as a fund management company, and acting as an alternative investment fund manager. The company was formerly known as China Haidian Holdings Limited and changed its name to Citychamp Watch & Jewellery Group Limited in May 2014. Citychamp Watch & Jewellery Group Limited is based in Kowloon, Hong Kong.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Citychamp Watch & Jewellery Group reported revenue of HK$1.3B in FY2025 versus HK$2.0B in FY2021, a compound −10.6%/yr. Reported net income was −HK$213M in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$1.3B
Latest YoY
−17.8%
Avg. 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.
−7.7%
Avg. 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.
−6.9%
Avg. growth/yr (25Y) 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.
+6.9%
Revenue −10.6%/yr
FY21 HK$2.0B
FY22 HK$1.7B
FY23 HK$1.7B
FY24 HK$1.6B
FY25 HK$1.3B
Net income
FY21 −HK$101M
FY22 −HK$111M
FY23 HK$45.1M
FY24 −HK$254M
FY25 −HK$213M

0256 screens 34% overvalued. Compare with Compagnie Financière Richemont SA →

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Cite: Fair Value Calculator (2026). "Citychamp Watch & Jewellery Group Fair Value". https://www.fairvalue-calculator.com/stock/0256

Peer Group

Luxury Goods · 130 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 43 · Bottom 25%
Fair Value upside −29% · Below median
Return on assets 0% · Bottom 25%
Net margin (TTM) -16% · Bottom 25%
Operating margin (TTM) 8% · Above median
Revenue growth -13% · Bottom 25%
Debt / equity 0.04× · Higher than median

Valuation Multiples vs Luxury Goods median · lower = cheaper

P/S (TTM) 0.03× · Cheaper than 75% of peers

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.

VALUE 0 · sector 15
FUTURE 0 · sector 50
PAST 0 · sector 38
HEALTH 98 · sector 99
DIVIDEND 0 · sector 39

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Luxury Goods stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

Stock Price Fair Value vs Fair Value
Compagnie Financière Richemont SA CFR CHF 197.40 CHF 117.30 -41%
Christian Dior SE DIO €455.40 €502.30 +10%
Kering SA KER €248.50 €60.61 -76%
Tapestry, Inc TPR $140.73 $19.95 -86%
Chow Tai Fook Jewellery Group 1929 HK$11.82 HK$12.28 +4%
The Swatch Group UHRN CHF 40.95 CHF 21.48 -48%
Prada S.p.A 1913 HK$43.26 HK$64.05 +48%
Pandora A/S PNDORA kr 779.40 kr 1,424 +83%
Brunello Cucinelli S.p.A BC €80.32 €42.69 -47%
Kalyan Jewellers India Limited KALYANKJIL ₹546.60 ₹238.57 -56%

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Frequently asked questions

Is Citychamp Watch & Jewellery Group (0256) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of HK$0.0558 versus a price of HK$0.0850, about −34% (overvalued).
What is the fair value of 0256?
Our model-based fair value for Citychamp Watch & Jewellery Group is HK$0.0558 (as of Aug 2, 2026), built from audited fundamentals. The current price is HK$0.0850.
What is the quality score of 0256?
Citychamp Watch & Jewellery Group has a Quality Score of 43/100. 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 revenue of Citychamp Watch & Jewellery Group (0256)?
Citychamp Watch & Jewellery Group reported trailing-twelve-month revenue of about HK$1.3B (latest available figure, as of Aug 2, 2026).
What is the net profit margin of 0256?
The net profit margin of Citychamp Watch & Jewellery Group is about -16.3%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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