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China Tangshang Holdings (0674) Fair Value & Analysis

Real Estate · HK · Market cap HK$226M

CT China Tangshang Holdings 0674 · HK
PriceHK$0.0470
Fair ValueHK$0.0343
Upside-27.0%
Quality38/100
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Expensive Growth
Loss-making · -14.1% net margin
Low debt · negative free cash flow
Trails peers (3/10)
Narrow moat 6/100
Evidence: Low Range HK$0.0296 – HK$0.0484 Share as image

Fair value as of: Aug 13, 2026

From 6 valuation models · updated 2 days ago

Fair value updated Aug 13, 2026, revised from HK$0.0328 to HK$0.0343 (+4.7%) since Aug 2, 2026. Share price −23.0% over the past month.

Below-average quality, and screening another 27% overvalued on our models.

What matters now

  • Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

HK$0.3100 HK$0.0400 Fair Value HK$0.0343 Jan 2018 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range HK$0.0400 – HK$0.3100 · fair‑value band HK$0.0296 – HK$0.0484 · the HK$0.0470 price screens above the HK$0.0343 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

China Tangshang Holdings (0674) currently trades at HK$0.0470, while our model-based Fair Value estimate is HK$0.0343, implying the stock looks roughly 27.0% overvalued today. The Quality Score stands at 38/100 (below-average quality), in the Real Estate 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, China Tangshang Holdings generated revenue of HK$546M at a net margin of -14.1%. Revenue grew 34.9% year over year. It earns a return on equity of -13.6%. Net debt stands at HK$426M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.0296 (bear case) to HK$0.0484 (bull case); at HK$0.0470, the current price sits within 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 59% below its 52-week high, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 15% fair-value upside, at -27%, 0674 screens richer 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$0.0300 HK$0.0400 HK$0.0400 72
EPV HK$0.0300 HK$0.0400 HK$0.0400 59
EV/EBITDA HK$0.0700 HK$0.1000 HK$0.1400 54
All 6 models by family
Earnings-Based
EPV HK$0.0300 HK$0.0400 HK$0.0400 59
Multiples
EV/EBIT HK$0.0900 HK$0.1400 HK$0.1800 53
EV/EBITDA HK$0.0700 HK$0.1000 HK$0.1400 54
EV/Revenue HK$0.0600 HK$0.1000 HK$0.1400 43
Asset-Based
NCAV (Graham) HK$0.0800 HK$0.1000 HK$0.1500 50
Economic Profit
ROIC Compounder HK$0.0300 HK$0.0400 HK$0.0400 72

Widest divergence: Multiples (HK$0.1000) versus Earnings-Based (HK$0.0400). Highest evidence: ROIC Compounder (72).

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Key figures & financial health

Revenue (TTM) HK$546M
Revenue growth (YoY) +34.9%
Net margin -14.1%
Return on equity -13.6%
Free cash flow −HK$16.3M FY2025
Operating margin -38.4%
More key figures
EPS (TTM) HK$-0.0100
EPS growth (YoY) +7.1%
Net debt HK$426M FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 38/100

Of which business quality 39 · Market factors (momentum, volatility) 17

Profitability 7
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 29
Earnings quality: real cash, not paper profit
Fin. Strength 36
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 5
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 48
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

China Tangshang Holdings Limited, an investment holding company, engages in the property investment, development, and sub-leasing activities in Hong Kong and the People's Republic of China. It operates through Property Sub-Leasing and Investment Business; Property Development Business; and Money Lending Business segments.

Full company description

China Tangshang Holdings Limited, an investment holding company, engages in the property investment, development, and sub-leasing activities in Hong Kong and the People's Republic of China. It operates through Property Sub-Leasing and Investment Business; Property Development Business; and Money Lending Business segments. The company leases investment properties; and develops real estate properties. It also provides loans to customers, including individuals and corporations. The company was formerly known as Culture Landmark Investment Limited and changed its name to China Tangshang Holdings Limited in August 2017. China Tangshang Holdings Limited was incorporated in 1990 and is headquartered in Tsim Sha Tsui, Hong Kong.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

China Tangshang Holdings reported revenue of HK$667M in FY2026 versus HK$257M in FY2022, a compound +26.9%/yr. Reported net income was −HK$77.1M in FY2026.

Growth Quality 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
HK$667M
Latest YoY
+14.9%
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.
+0.8%
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.
+64.0%
Avg. growth/yr (26Y) 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.
+7.3%
Revenue +26.9%/yr
FY22 HK$257M
FY23 HK$651M
FY24 HK$877M
FY25 HK$581M
FY26 HK$667M
Net income
FY22 HK$8.0M
FY23 HK$30.4M
FY24 −HK$115M
FY25 −HK$89.1M
FY26 −HK$77.1M

0674 screens 27% overvalued. Compare with Plaza S.A →

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Cite: Fair Value Calculator (2026). "China Tangshang Holdings Fair Value". https://www.fairvalue-calculator.com/stock/0674

Peer Group

Real Estate Services · 528 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 40 · Bottom 25%
Fair Value upside −36% · Below median
Return on assets -4% · Bottom 25%
Net margin (TTM) -14% · Bottom 25%
Operating margin (TTM) -38% · Bottom 25%
Revenue growth 35% · Top 25%
Debt / equity 0.38× · Higher than median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/B 0.06× · Cheaper than 75% of peers
P/S (TTM) 0.05× · 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 34
FUTURE 100 · sector 10
PAST 0 · sector 16
HEALTH 81 · sector 85
DIVIDEND 0 · sector 59

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 Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Plaza S.A MALLPLAZA 3,989 CLP 4,571 CLP +15%
PT Solusi Tunas Pratama Tbk SUPR 43,850 IDR 15,049 IDR -66%
Cencosud Shopping S.A CENCOMALLS 2,412 CLP 2,976 CLP +23%
PT Sarana Menara Nusantara Tbk. owns and TOWR 392.00 IDR 1,012 IDR +158%
PT Metropolitan Kentjana Tbk MKPI 22,000 IDR 19,160 IDR -13%
PT Bangun Kosambi Sukses Tbk, CBDK 3,610 IDR 3,464 IDR -4%
IRSA Inversiones y Representaciones Sociedad Anónima, IRSA 2,495 ARS 2,990 ARS +20%
PT Plaza Indonesia Realty Tbk PLIN 2,510 IDR 2,698 IDR +7%
PT MNC Tourism Indonesia Tbk, KPIG 74.00 IDR 122.12 IDR +65%
PT Indonesian Paradise Property Tbk INPP 770.00 IDR 291.52 IDR -62%

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Frequently asked questions

Is China Tangshang Holdings (0674) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.0343 versus a price of HK$0.0470, about −27% (overvalued).
What is the fair value of 0674?
Our model-based fair value for China Tangshang Holdings is HK$0.0343 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.0470.
What is the quality score of 0674?
China Tangshang Holdings has a Quality Score of 38/100. 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 China Tangshang Holdings (0674)?
China Tangshang Holdings reported trailing-twelve-month revenue of about HK$546M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 0674?
The net profit margin of China Tangshang Holdings is about -14.1%, 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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