Sino Golf Holdings Ltd (0361) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$240M (≈ $30.6M) · ISIN BMG816821091

What is Sino Golf Holdings Ltd really worth?

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

What matters now

• The price sits above even our optimistic bull case (HK$0.0320). The favourable scenario is already priced in.
• Weak quality (38/100) 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$0.0280 to HK$0.0320), unusually little disagreement for a valuation.
• Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 22, 2026.

How to read this chart

60‑month range HK$0.0250 – HK$0.2900 · fair‑value band HK$0.0280 – HK$0.0320 · the HK$0.0390 price screens above the HK$0.0320 fair value. Dashed = 300-day average. As of Aug 22, 2026.

Full chart & analysis →

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Analysis

Sino Golf Holdings Ltd (0361) currently trades at HK$0.0390, while our model-based Fair Value estimate is HK$0.0320, implying the stock looks roughly 21.9% overvalued today. The Quality Score stands at 38/100 (below-average quality), in the Consumer Cyclical sector. Bull case: the Asset-Based group reads highest at a median of HK$0.0300 per share, and 0 of the 3 models we run sit above the HK$0.0390 price. Bear case: the Dividend Discount group reads lowest at HK$0.0200, and 3 of the 3 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Sino Golf Holdings Ltd generated revenue of HK$190M at a net margin of −12.9%. Revenue declined 24.3% year over year. It earns a return on equity of −9.8%. The balance sheet holds a net cash position of HK$35.9M. Fundamentals as of Aug 22, 2026

Our scenario range runs from HK$0.0280 (bear case) to HK$0.0320 (bull case); at HK$0.0390, 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 78% below its 52-week high and 39% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −1% fair-value upside, at −18%, 0361 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.

Widest divergence: Asset-Based (HK$0.0300) versus Dividend Discount (HK$0.0200). Highest evidence: Gordon GGM (69).

Key figures & financial health

Quality Score breakdown

About the company

Hanfort Development Holdings Limited, an investment holding company, engages in the manufacture and trading of golf equipment, and related components and parts in Japan, North America, Asia, Europe, and internationally. It operates through Golf Equipment; Golf Bags; and Hospitality segments.

Full company description

Hanfort Development Holdings Limited, an investment holding company, engages in the manufacture and trading of golf equipment, and related components and parts in Japan, North America, Asia, Europe, and internationally. It operates through Golf Equipment; Golf Bags; and Hospitality segments. The company offers assembled and packaged golf clubs, club heads, shafts and golf bags, and accessories on an original equipment manufacturing and original design manufacturing basis to golf companies. It is also involved in the development of an integrated resort in the Commonwealth of the Northern Mariana Islands; subcontracting of golf bags; and property holding activities. The company was formerly known as Sino Golf Holdings Limited and change its name to Hanfort Development Holdings Limited in January 2026. Hanfort Development Holdings Limited was founded in 1988 and is based in Sha Tin, Hong Kong. Hanfort Development Holdings Limited operates as a subsidiary of Hans' Energy Group Co., Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Sino Golf Holdings Ltd reported revenue of HK$190M in FY2025 versus HK$418M in FY2021, a compound −17.9%/yr. Reported net income was −HK$24.6M in FY2025.

0361 screens 22% overvalued. Compare with ANTA Sports Products Limited →

Peer Group

Leisure · 191 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 Leisure median · lower = cheaper

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.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

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