0863 (0863) Fair Value & Analysis

Financial Services · Market cap HK$10.4B

0 0863 0863 · HK

PriceHK$11.53

Fair ValueHK$3.18

Upside-72.4%

Quality26/100

Evidence: Low Range HK$2.10 – HK$3.98

Fair value as of: Jul 2, 2026

From 1 valuation models · updated today

Share price +4.8% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$10.12 – HK$19.97 · fair‑value band HK$2.10 – HK$3.98 · the HK$11.53 price screens above the HK$3.18 fair value. As of Jul 2, 2026.

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Analysis

0863 (0863) currently trades at HK$11.53, while our model-based Fair Value estimate is HK$3.18 — implying the stock looks roughly 72.4% overvalued today. We read business quality at 26/100 (below-average quality), in the Financial Services 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, 0863 generated revenue of HK$489M at a net margin of -79.1%. Revenue grew 16.9% year over year. It earns a return on equity of -17.0%. The balance sheet holds a net cash position of HK$2.1B. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$489M

Revenue growth (YoY) +16.9%

Net margin -79.1%

Return on equity -17.0%

Free cash flow −HK$1.5B FY2025

Operating margin -107%

More key figures

EPS (TTM) HK$-0.0300

Net cash HK$2.1B FY2025

Figures from reported company fundamentals (EODHD) · as of Jul 2, 2026. TTM = trailing twelve months.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

0863 reported revenue of HK$489M in FY2025 versus HK$265M in FY2021, a compound +16.6%/yr. Reported net income was −HK$387M in FY2025.

Revenue +16.6%/yr

FY21 HK$265M

FY22 HK$71.5M

FY23 HK$210M

FY24 HK$375M

FY25 HK$489M

Net income

FY21 −HK$307M

FY22 −HK$541M

FY23 −HK$264M

FY24 HK$47.7M

FY25 −HK$387M

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Similar stocks

6 more Capital Markets stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).

Stock	Price	Fair Value	vs Fair Value
Huatai Securities Co HTSC	$0.2700	$0.0500	-81%
Morgan Stanley, a financial holding company, MS	$214.98	$138.97	-35%
The Goldman Sachs Group GS	$1,001	$283.83	-72%
CITIC Securities Company 600030	¥25.67	¥51.34	+100%
Mirae Asset Securities Co 006800	46,100 KRW	36,828 KRW	-20%
Meritz Financial Group 138040	104,600 KRW	64,979 KRW	-38%

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Frequently asked questions

Is 0863 (0863) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$3.18 versus a price of HK$11.53 — about −72% (overvalued). Model-based estimate, not financial advice.

What is the fair value of 0863?

Our model-based fair value for 0863 is HK$3.18 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$11.53.

What is the quality score of 0863?

0863 has a Quality Score of 26/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 0863 (0863)?

0863 reported trailing-twelve-month revenue of about HK$489M (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 0863?

The net profit margin of 0863 is about -79.1%, 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.

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