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Glorious Property Holdings (0845) Fair Value & Analysis

Real Estate · HK · Market cap HK$77.9M

GP Glorious Property Holdings 0845 · HK
PriceHK$0.0100
Fair ValueHK$0.0115
Upside+15.0%
Quality43/100
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Weak Growth
Loss-making · -64.2% net margin
Negative equity (buybacks among others) · generates free cash flow
Ranks above peers (5/8)
Moderate moat 46/100
Evidence: Medium Range HK$0.0106 – HK$0.0126 Share as image

Fair value as of: Aug 13, 2026

From 10 valuation models · updated 2 days ago

Below-average quality, screening 15% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (HK$0.0106). The market is more pessimistic than our downside scenario.
  • 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$0.2600 HK$0.0100 Fair Value HK$0.0115 Mar 2021 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$0.0100 – HK$0.2600 · fair‑value band HK$0.0106 – HK$0.0126 · the HK$0.0100 price screens below the HK$0.0115 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Glorious Property Holdings (0845) currently trades at HK$0.0100, while our model-based Fair Value estimate is HK$0.0115, implying the stock looks roughly 15.0% undervalued today. The Quality Score stands at 43/100 (below-average quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Glorious Property Holdings generated revenue of HK$4.5B at a net margin of -64.2%. Net debt stands at HK$22.6B. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.0106 (bear case) to HK$0.0126 (bull case); at HK$0.0100, the current price sits below 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 near its 52-week high, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 15% fair-value upside, at 15%, 0845 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
Growth DCF HK$0.3900 HK$0.5100 HK$0.6500 80
Rev-Margin DCF HK$0.4800 HK$0.7600 HK$1.07 74
EV/EBITDA HK$0.8600 HK$1.15 HK$1.44 54
All 10 models by family
DCF Models
FCF DCF HK$0.3900 HK$0.5200 HK$0.6900 38
5Y Revenue Exit HK$0.4800 HK$0.7600 HK$1.10 39
5Y EBITDA Exit HK$0.5900 HK$0.9600 HK$1.38 41
10Y Revenue Exit HK$0.4200 HK$0.6400 HK$0.9100 36
10Y EBITDA Exit HK$0.5000 HK$0.7600 HK$1.09 37
Multiples
EV/EBIT HK$1.07 HK$1.43 HK$1.78 53
EV/EBITDA HK$0.8600 HK$1.15 HK$1.44 54
EV/Revenue HK$0.5900 HK$0.8400 HK$1.10 43
Growth DCF
Growth DCF HK$0.3900 HK$0.5100 HK$0.6500 80
Rev-Margin DCF HK$0.4800 HK$0.7600 HK$1.07 74

Widest divergence: Multiples (HK$1.15) versus Growth DCF (HK$0.5100). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$4.5B
Revenue growth (YoY) +383%
Net margin -64.2%
Return on equity -21,022%
Free cash flow HK$365M FY2023
Operating margin 30.1%
More key figures
EPS growth (YoY) -99.3%
Net debt HK$22.6B FY2023

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

Quality Score breakdown

Overall quality 43/100

Of which business quality 38 · Market factors (momentum, volatility) 56

Profitability 1
Margins and returns on capital today
Quality Growth 3
Are margins and returns improving?
Cashflow 72
Earnings quality: real cash, not paper profit
Fin. Strength 1
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 33
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

Glorious Property Holdings Limited, an investment holding company, invests in, develops, and sells real estate properties in the People's Republic of China. The company develops residential, commercial, serviced apartment, office, and hotel projects. It has various land bank located in Shanghai region, Yangtze River Delta, Pan Bohai Rim, and Northeast China.

Full company description

Glorious Property Holdings Limited, an investment holding company, invests in, develops, and sells real estate properties in the People's Republic of China. The company develops residential, commercial, serviced apartment, office, and hotel projects. It has various land bank located in Shanghai region, Yangtze River Delta, Pan Bohai Rim, and Northeast China. In addition, the company is involved in the provision of corporate, culture, advertising planning, investment holding, advisory, business consulting, interior and exterior decoration, renovation, business operation management, property leasing, and hotel operation and property management services; and wholesale of construction materials, mechanical equipment, and building materials. Further, it engages in medical beauty related business. Glorious Property Holdings Limited was founded in 1996 and is headquartered in Chai Wan, Hong Kong.

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

Revenue & earnings trend

FY2019 – FY2023 · reported fiscal years

Glorious Property Holdings reported revenue of HK$2.6B in FY2023 versus HK$5.8B in FY2019, a compound −17.9%/yr. Reported net income was −HK$2.9B in FY2023.

Growth Quality 15/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2023)
HK$2.6B
Latest YoY
−58.7%
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.
−2.0%
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.
−23.5%
Avg. growth/yr (17Y) 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.
+1.9%
Revenue −17.9%/yr
FY19 HK$5.8B
FY20 HK$2.8B
FY21 HK$3.3B
FY22 HK$6.4B
FY23 HK$2.6B
Net income
FY19 −HK$992M
FY20 HK$81.0M
FY21 −HK$5.2B
FY22 −HK$297M
FY23 −HK$2.9B

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Cite: Fair Value Calculator (2026). "Glorious Property Holdings Fair Value". https://www.fairvalue-calculator.com/stock/0845

Peer Group

Real Estate - Development · 593 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 · Below median
Fair Value upside +0% · Below median
Return on assets 2% · Above median
Net margin (TTM) -64% · Bottom 25%
Operating margin (TTM) 30% · Top 25%
Revenue growth 383% · Top 25%

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/FCF 0.0× · 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 33 · sector 47
FUTURE 100 · sector 0
PAST 0 · sector 10
HEALTH 100 · sector 85
DIVIDEND 0 · sector 58

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

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 - Development stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹661.75 ₹146.13 -78%
Lodha Developers Limited LODHA ₹1,209 ₹583.43 -52%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,150 IDR 1,330 IDR -78%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 595.00 IDR 1,488 IDR +150%
PT Sentul City Tbk, BKSL 73.00 IDR 84.16 IDR +15%
PT Ciputra Development Tbk, CTRA 610.00 IDR 1,525 IDR +150%
Khang Dien House Trading and Investment Joint Stock Company KDH 18,150 VND 20,338 VND +12%
PT Duta Pertiwi Tbk DUTI 4,300 IDR 6,239 IDR +45%
PT Puradelta Lestari Tbk DMAS 147.00 IDR 164.33 IDR +12%

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Frequently asked questions

Is Glorious Property Holdings (0845) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.0115 versus a price of HK$0.0100, about +15% (undervalued).
What is the fair value of 0845?
Our model-based fair value for Glorious Property Holdings is HK$0.0115 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.0100.
What is the quality score of 0845?
Glorious Property Holdings 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 Glorious Property Holdings (0845)?
Glorious Property Holdings reported trailing-twelve-month revenue of about HK$4.5B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 0845?
The net profit margin of Glorious Property Holdings is about -64.2%, 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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