Ares Asia Limited (0645) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Ares Asia Limited HK$0.06, price HK$0.18, upside -66.9%, quality 62 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 4, 2026.
How to read this chart
60‑month range HK$0.0480 – HK$1.60 · fair‑value band HK$0.0400 – HK$0.0700 · the HK$0.1810 price screens above the HK$0.0600 fair value. Dashed = 300-day average. As of Oct 4, 2026.
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Ares Asia Limited, an investment holding company, engages in the trading of coal and other commodities in Mainland China, Hong Kong, Singapore, and Vietnam. The company was formerly known as KTP Holdings Limited and changed its name to Ares Asia Limited in April 2012. Ares Asia Limited was incorporated in 1993 and is headquartered in Kowloon, Hong Kong.
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Ares Asia Limited, an investment holding company, engages in the trading of coal and other commodities in Mainland China, Hong Kong, Singapore, and Vietnam. The company was formerly known as KTP Holdings Limited and changed its name to Ares Asia Limited in April 2012. Ares Asia Limited was incorporated in 1993 and is headquartered in Kowloon, Hong Kong. The company is a subsidiary of Reignwood International Holdings Company Limited.
Stock analysis
Ares Asia Limited (0645) currently trades at HK$0.1810, while our model-based Fair Value estimate is HK$0.0600, 66.9% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the evidence level at low.
Scenario range: HK$0.0400 (bear) to HK$0.0700 (bull), the price of HK$0.1810 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 62/100 (solid quality), in the Energy sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Ares Asia Limited reported revenue of $6.9M in FY2026 versus $102M in FY2022, a compound −48.9%/yr. Reported net income was −$737K in FY2026.
Key figures
Market cap HK$92.9M (≈ $11.8M) · P/S ratio 12.4 · Net margin −10.6% · Return on equity −17.5% · Return on assets (EBIT) −18.5% · Operating margin −10.7% · Revenue (TTM) HK$7.0M · Revenue growth (YoY) −85.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 22 out of 100 (low confidence).
What moves the price
The share trades about 14% below its 52-week high and 56% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Energy peers we cover trades at −33% fair-value upside, at −67%, 0645 screens richer than that median.
Fair Value models
Bear HK$0.0400Fair Value HK$0.0600Bull HK$0.0700
Price HK$0.1810 · Upside -66.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.0/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+109.5%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−49.1%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−43.2%
Start year 2021 (pandemic)
Revenue growth 26 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−17.3%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−1.7% (2021) → −11.6% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Thermal Coal · 84 stocks
Beats the industry median on 1/9 measures
Overall it trails its industry peers.
Valuation
Quality Score62 · Top 25%
Fair Value upside−66.9% · Bottom 25%
Profitability
Return on assets−18.6% · Bottom 25%
Net margin (TTM)−10.6% · Bottom 25%
Operating margin (TTM)−10.7% · Bottom 25%
Growth and dividend
Revenue growth−85.1% · Bottom 25%
Balance sheet
Debt / equity1.15× · Highest 25%
Valuation Multiplesvs Thermal Coal median · lower = cheaper
P/B3.07× · Priciest 25%
P/S (TTM)1.70× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 9
FUTURE (revenue growth)0· sector 53
PAST (return on equity)0· sector 27
HEALTH (low debt)43· sector 91
DIVIDEND (yield)0· sector 54
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Ares Asia Limited Fair Value". https://www.fairvalue-calculator.com/stock/0645
Frequently asked questions
Is Ares Asia Limited (0645) overvalued or undervalued?
As of Oct 4, 2026, our model estimates a fair value of HK$0.0600 versus a price of HK$0.1810, about −67% upside (overvalued).
What is the fair value of 0645?
Our model-based fair value for Ares Asia Limited is HK$0.0600 (as of Oct 4, 2026), built from audited fundamentals. The current price: HK$0.1810.
What is the quality score of 0645?
Ares Asia Limited has a Quality Score of 62/100. 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 price target for Ares Asia Limited (0645)?
Our model-based price target is the fair value of HK$0.0600 (as of Oct 4, 2026) from 1 valuation models. Cautious scenario HK$0.0400, optimistic scenario HK$0.0700. It is a calculation from audited fundamentals, not an analyst target.
What is the Ares Asia Limited stock forecast for 2026?
Our models put fair value at HK$0.0600, about −67% upside versus a price of HK$0.1810 (overvalued). Cautious scenario HK$0.0400, optimistic scenario HK$0.0700. The calculation is refreshed regularly with new filings.
What is the revenue of Ares Asia Limited (0645)?
Ares Asia Limited reported trailing-twelve-month revenue of about HK$7.0M (latest available figure, as of Oct 4, 2026).
What is the intrinsic value of Ares Asia Limited (0645)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ares Asia Limited it is HK$0.0600 per share (as of Oct 4, 2026), against a price of HK$0.1810. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Ares Asia Limited stock overvalued or undervalued in 2026?
As of Oct 4, 2026, 0645 trades above its calculated fair value: price HK$0.1810, fair value HK$0.0600, a gap of about −67% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0645?
No. The price is what the market pays today (HK$0.1810); the fair value is what the company's own numbers justify (HK$0.0600). For Ares Asia Limited the two are HK$0.1210 per share apart. That gap is exactly why we show both numbers side by side.
How much is Ares Asia Limited worth?
The market values Ares Asia Limited at about HK$92.9M (market capitalisation, as of Oct 4, 2026). Per share that is HK$0.1810; our models calculate a fair value of HK$0.0600 per share.
What do the bullish and bearish scenarios say about 0645?
Our models span a range for Ares Asia Limited: cautious scenario HK$0.0400, base HK$0.0600, optimistic HK$0.0700 per share (as of Oct 4, 2026, price HK$0.1810). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Ares Asia Limited (0645)?
Balance-sheet figures for Ares Asia Limited (as of Oct 4, 2026): return on equity −17.5%, debt of 1.15 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is 0645 from its 52-week high?
Ares Asia Limited trades at HK$0.1810, about 14% below its 52-week high of HK$0.2100 and 56% above the low of HK$0.1160 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.0600 is for.
Which stocks are comparable to Ares Asia Limited?
From the same area (Energy) we also value China Shenhua Energy Company, Adani Enterprises Limited, Shaanxi Coal Industry Company, Yankuang Energy Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Ares Asia Limited stock attractive at the current price?
The data as of Oct 4, 2026: price HK$0.1810, calculated fair value HK$0.0600 (−67%), Quality Score 62/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0645 calculated?
We run Ares Asia Limited through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of HK$0.0600, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.0 % above its aggregate fair value. Ares Asia Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Ares Asia Limited (0645)?
The closing price on Oct 2, 2026 was HK$0.1810. Our model-based fair value is HK$0.0600, about −67% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ares Asia Limited right now?
The price sits above even our optimistic bull case (HK$0.0700). The favourable scenario is already priced in. 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 but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Ares Asia Limited
How large is the market capitalisation of Ares Asia Limited (0645)?
The market capitalisation of Ares Asia Limited is HK$92.9M (≈ $11.8M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Ares Asia Limited (0645)?
The price-to-sales ratio of Ares Asia Limited is 12.4 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Ares Asia Limited (0645)?
The net margin of Ares Asia Limited is −10.6% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Ares Asia Limited (0645)?
The return on equity (ROE) of Ares Asia Limited is −17.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Ares Asia Limited (0645)?
On an EBIT basis the return on assets of Ares Asia Limited is −18.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Ares Asia Limited (0645)?
The operating margin of Ares Asia Limited is −10.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ares Asia Limited (0645)?
Revenue at Ares Asia Limited is growing −85.1% versus a year earlier (3y avg −49.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Ares Asia Limited (0645) generate?
The free cash flow of Ares Asia Limited is −HK$4.1M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Ares Asia Limited (0645) hold?
Ares Asia Limited holds more cash than debt, HK$305K net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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