0338 (0338) Fair Value & Analysis

Energy · Market cap HK$11.5B

0 0338 0338 · HK

PriceHK$1.09

Fair ValueHK$0.2900

Upside-73.4%

Quality45/100

Evidence: Low Range HK$0.2300 – HK$0.3500

Fair value as of: Jul 1, 2026

From 3 valuation models · updated today

Share price −3.5% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$1.09 – HK$1.69 · fair‑value band HK$0.2300 – HK$0.3500 · the HK$1.09 price screens above the HK$0.2900 fair value. As of Jul 1, 2026.

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Analysis

0338 (0338) currently trades at HK$1.09, while our model-based Fair Value estimate is HK$0.2900 — implying the stock looks roughly 73.4% overvalued today. We read business quality at 45/100 (below-average quality), in the Energy 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: low).

Over the trailing twelve months, 0338 generated revenue of HK$73.7B at a net margin of -1.3%. Revenue declined 9.5% year over year. It earns a return on equity of -3.7%. The balance sheet holds a net cash position of HK$6.7B. Fundamentals as of Jul 1, 2026

Key figures & financial health

Revenue (TTM) HK$73.7B

Revenue growth (YoY) -9.5%

Net margin -1.3%

Return on equity -3.7%

Free cash flow −HK$1.2B FY2025

Operating margin 3.2%

More key figures

EPS (TTM) HK$-0.0371

EPS growth (YoY) +1,459%

Net cash HK$6.7B FY2025

Figures from reported company fundamentals (EODHD) · as of Jul 1, 2026. TTM = trailing twelve months.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

0338 reported revenue of HK$62.4B in FY2025 versus HK$75.9B in FY2021, a compound −4.8%/yr. Reported net income was −HK$1.6B in FY2025.

Revenue −4.8%/yr

FY21 HK$75.9B

FY22 HK$72.7B

FY23 HK$93.0B

FY24 HK$87.1B

FY25 HK$62.4B

Net income

FY21 HK$2.0B

FY22 −HK$2.8B

FY23 −HK$1.4B

FY24 HK$317M

FY25 −HK$1.6B

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Similar stocks

6 more Oil & Gas Refining & Marketing stocks, each showing price versus our Fair Value estimate (as of Jul 1, 2026).

Stock	Price	Fair Value	vs Fair Value
Reliance Industries Limited RELIANCE	₹1,259	₹835.66	-34%
Marathon Petroleum Corporation MPC	$263.28	$114.61	-56%
Valero Energy Corporation VLO	$243.78	$127.32	-48%
Phillips 66 PSX	$183.08	$50.63	-72%
Neste Oyj NESTE	€28.45	€6.38	-78%
ENEOS Holdings JXHLY	$16.46	$17.72	+8%

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Frequently asked questions

Is 0338 (0338) undervalued?

As of Jul 1, 2026, our model estimates a fair value of HK$0.2900 versus a price of HK$1.09 — about −73% (overvalued). Model-based estimate, not financial advice.

What is the fair value of 0338?

Our model-based fair value for 0338 is HK$0.2900 (as of Jul 1, 2026), built from audited fundamentals. The current price is HK$1.09.

What is the quality score of 0338?

0338 has a Quality Score of 45/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 0338 (0338)?

0338 reported trailing-twelve-month revenue of about HK$73.7B (latest available figure, as of Jul 1, 2026).

What is the net profit margin of 0338?

The net profit margin of 0338 is about -1.3%, 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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.