0866 (0866) Fair Value & Analysis

Energy · Market cap HK$3.8B

0 0866 0866 · HK

PriceHK$1.45

Fair ValueHK$0.6200

Upside-57.2%

Quality38/100

Evidence: Medium Range HK$0.3300 – HK$0.9100

Fair value as of: Jul 2, 2026

From 8 valuation models · updated today

Share price −25.6% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$1.33 – HK$4.27 · fair‑value band HK$0.3300 – HK$0.9100 · the HK$1.45 price screens above the HK$0.6200 fair value. As of Jul 2, 2026.

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Analysis

0866 (0866) currently trades at HK$1.45, while our model-based Fair Value estimate is HK$0.6200 — implying the stock looks roughly 57.2% overvalued today. We read business quality at 38/100 (below-average quality), in the Energy 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: medium).

Over the trailing twelve months, 0866 generated revenue of HK$1.8B at a net margin of -5.1%. Revenue declined 38.9% year over year. It earns a return on equity of 4.0%. Net debt stands at HK$923M. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$1.8B

Revenue growth (YoY) -38.9%

Net margin -5.1%

Return on equity 4.0%

Free cash flow −HK$1.0B FY2025

P/E ratio 48.3

More key figures

Operating margin 19.2%

EPS (TTM) HK$0.0100

EPS growth (YoY) -93.0%

Net debt HK$923M FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

0866 reported revenue of HK$1.8B in FY2025 versus HK$4.6B in FY2021, a compound −20.3%/yr. Reported net income was −HK$93.9M in FY2025.

Revenue −20.3%/yr

FY21 HK$4.6B

FY22 HK$3.8B

FY23 HK$3.4B

FY24 HK$2.6B

FY25 HK$1.8B

Net income

FY21 HK$2.8B

FY22 HK$457M

FY23 HK$200M

FY24 HK$502M

FY25 −HK$93.9M

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Similar stocks

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

Stock	Price	Fair Value	vs Fair Value
China Shenhua Energy Company 601088	¥47.51	¥30.10	-37%
Adani Enterprises Limited ADANIENT	₹2,931	₹796.70	-73%
Shaanxi Coal Industry Company 601225	¥27.14	¥24.13	-11%
Yankuang Energy Group 600188	¥19.84	¥18.51	-7%
China Coal Energy Company 601898	¥13.73	¥22.52	+64%
Coal India Limited COALINDIA	₹472.30	₹1,206	+155%

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Frequently asked questions

Is 0866 (0866) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$0.6200 versus a price of HK$1.45 — about −57% (overvalued). Model-based estimate, not financial advice.

What is the fair value of 0866?

Our model-based fair value for 0866 is HK$0.6200 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$1.45.

What is the quality score of 0866?

0866 has a Quality Score of 38/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 0866 (0866)?

0866 reported trailing-twelve-month revenue of about HK$1.8B (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 0866?

The net profit margin of 0866 is about -5.1%, 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.