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Asia Resources Holdings Ltd (0899) fair value: what the stock is really worth

As of Sep 29, 2026: fair value of Asia Resources Holdings Ltd HK$0.51, price HK$0.32, upside +61.9%, quality 37 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Real Estate · HK · ISIN BMG0536F1775

AR Thin data Sep 27, 2026

Asia Resources Holdings Ltd

0899 · HK

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value HK$0.5100 · Strongly undervalued (+61.9%)
!Quality 37/100
!Weak Growth (revenue 5y −7.2 %/yr)
!Low debt · negative free cash flow
!Mixed vs. peers (4/8)
!Narrow moat 3/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

HK$6.96 HK$0.1528 Fair Value HK$0.5100 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.

How to read this chart

60‑month range HK$0.1528 – HK$6.96 · fair‑value band HK$0.3817 – HK$0.7625 · the HK$0.3150 price screens below the HK$0.5100 fair value. Dashed = 300-day average. As of Sep 27, 2026.

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Company profile

Zhong Jia Guo Xin Holdings Company Limited, an investment holding company, engages in the property development and investment business in the People's Republic of China. It is also involved in the production and sales of bottled mineral water; securities trading; mineral exploration and mining; and provision of management services.

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Zhong Jia Guo Xin Holdings Company Limited, an investment holding company, engages in the property development and investment business in the People's Republic of China. It is also involved in the production and sales of bottled mineral water; securities trading; mineral exploration and mining; and provision of management services. The company was formerly known as Asia Resources Holdings Limited and changed its name to Zhong Jia Guo Xin Holdings Company Limited in January 2024. The company was incorporated in 1997 and is based in Central, Hong Kong.

Stock analysis

Asia Resources Holdings Ltd (0899) currently trades at HK$0.3150, while our model-based Fair Value estimate is HK$0.5100, implying the stock looks roughly 38.2% undervalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 88/100, which puts the evidence level at low.

Scenario range: HK$0.3817 (bear) to HK$0.7625 (bull), the price of HK$0.3150 sits below 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 37/100 (below-average quality), in the Real Estate sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Asia Resources Holdings Ltd reported revenue of HK$22.6M in FY2026 versus HK$21.2M in FY2022, a compound +1.7%/yr. Reported net income was −HK$182M in FY2026.

Key figures

Market cap HK$118M (≈ $15.0M) · P/S ratio 4.97 · EPS (TTM) HK$−3.36 · Return on equity −37.2% · Return on assets (EBIT) −3.8% · Operating margin −85.4% · Revenue (TTM) HK$23.7M · Revenue growth (YoY) +38.6%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades at its 52-week high and 106% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at −47% fair-value upside, at 62%, 0899 screens cheaper than that median.

Fair Value models

Bear HK$0.3817 Fair Value HK$0.5100 Bull HK$0.7625
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.
Highest evidence
NCAV (Graham) HK$1.00 HK$1.34 HK$1.99 54
All 1 models by family
Asset-Based
NCAV (Graham) HK$1.00 HK$1.34 HK$1.99 54

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Quality Score breakdown

Overall quality 37/100

Of which business quality 40 · Market factors (momentum, volatility) 71

Profitability 0
Margins and returns on capital today
Quality Growth 63
Are margins and returns improving?
Cashflow 4
Earnings quality: real cash, not paper profit
Fin. Strength 69
Balance sheet, leverage, solvency risk
Investment 89
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 67
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 50
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 6/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+12.9%
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.
+0.6%
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.
−7.2%
Start year 2021 (pandemic). Over 10 years: −2.4% a year
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.
−9.5%
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.
−37.9% (2021) → −113.4% (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
not computed

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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.Real Estate - Diversified · 133 stocks

Beats the industry median on 4/7 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 40 · Bottom 25%
Fair Value upside +61.9% · Above median
Profitability
Return on assets −1.1% · Bottom 25%
Operating margin (TTM) −85.4% · Bottom 25%
Growth and dividend
Revenue growth 38.6% · Top 25%
Balance sheet
Debt / equity 0.01× · Lowest 25%

Valuation Multiplesvs Real Estate - Diversified median · lower = cheaper

P/S (TTM) 0.63× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 41
FUTURE (revenue growth)100 · sector 24
PAST (return on equity)0 · sector 20
HEALTH (low debt)100 · sector 74
DIVIDEND (yield)0 · sector 61

Context: sector, industry, market

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

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10 more Real Estate - Diversified stocks, each showing price versus our Fair Value estimate.

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The Phoenix Mills Limited PHOENIXLTD ₹1,978 ₹405.25 −80%
Prestige Estates Projects Limited PRESTIGE ₹1,478 ₹297.85 −80%
Umm Al Qura for Development and Construction Company 4325 17.15 SAR 15.41 SAR −10%
Hainan Airport Infrastructure Co 600515 ¥2.69 ¥0.7900 −71%
Allreal Holding ALLN CHF 193.00 CHF 84.23 −56%
Parque Arauco S.A PARAUCO 3,670 CLP 3,708 CLP +1%
The St. Joe Company JOE $65.30 $34.53 −47%
Singapore Land Group U06 3.14 SGD 3.18 SGD +1%

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Asia Resources Holdings Ltd · Fair Value
HK$0.5100 +38%Fair Value
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Cite: Fair Value Calculator (2026). "Asia Resources Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/0899

Frequently asked questions

Is Asia Resources Holdings Ltd (0899) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$0.5100 versus a price of HK$0.3150, about +62% upside (undervalued).
What is the fair value of 0899?
Our model-based fair value for Asia Resources Holdings Ltd is HK$0.5100 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$0.3150.
What is the quality score of 0899?
Asia Resources Holdings Ltd has a Quality Score of 37/100. 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 Asia Resources Holdings Ltd (0899)?
Our model-based price target is the fair value of HK$0.5100 (as of Sep 27, 2026) from 1 valuation models. Cautious scenario HK$0.3817, optimistic scenario HK$0.7625. It is a calculation from audited fundamentals, not an analyst target.
What is the Asia Resources Holdings Ltd stock forecast for 2026?
Our models put fair value at HK$0.5100, about +62% upside versus a price of HK$0.3150 (undervalued). Cautious scenario HK$0.3817, optimistic scenario HK$0.7625. The calculation is refreshed regularly with new filings.
What is the revenue of Asia Resources Holdings Ltd (0899)?
Asia Resources Holdings Ltd reported trailing-twelve-month revenue of about HK$23.7M (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of Asia Resources Holdings Ltd (0899)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Asia Resources Holdings Ltd it is HK$0.5100 per share (as of Sep 27, 2026), against a price of HK$0.3150. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Asia Resources Holdings Ltd stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 0899 trades below its calculated fair value: price HK$0.3150, fair value HK$0.5100, a gap of about +62% (undervalued). 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 0899?
No. The price is what the market pays today (HK$0.3150); the fair value is what the company's own numbers justify (HK$0.5100). For Asia Resources Holdings Ltd the two are HK$0.1950 per share apart. That gap is exactly why we show both numbers side by side.
How much is Asia Resources Holdings Ltd worth?
The market values Asia Resources Holdings Ltd at about HK$118M (market capitalisation, as of Sep 27, 2026). Per share that is HK$0.3150; our models calculate a fair value of HK$0.5100 per share.
What do the bullish and bearish scenarios say about 0899?
Our models span a range for Asia Resources Holdings Ltd: cautious scenario HK$0.3817, base HK$0.5100, optimistic HK$0.7625 per share (as of Sep 27, 2026, price HK$0.3150). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Asia Resources Holdings Ltd (0899)?
Balance-sheet figures for Asia Resources Holdings Ltd (as of Sep 27, 2026): return on equity −37.2%, debt of 0.01 per unit of equity. They feed the Quality Score of 37/100, which measures business quality independently of the share price.
How far is 0899 from its 52-week high?
Asia Resources Holdings Ltd trades at HK$0.3150, at its 52-week high of HK$0.3150 and 106% above the low of HK$0.1528 (as of Sep 29, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.5100 is for.
Which stocks are comparable to Asia Resources Holdings Ltd?
From the same area (Real Estate) we also value Swiss Prime Site AG, Central Pattana Public Company, The Phoenix Mills Limited, Prestige Estates Projects Limited, 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 Asia Resources Holdings Ltd stock attractive at the current price?
The data as of Sep 27, 2026: price HK$0.3150, calculated fair value HK$0.5100 (+62%), Quality Score 37/100, 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 0899 calculated?
We run Asia Resources Holdings Ltd 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$0.5100, 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 14.9 % above its aggregate fair value. Asia Resources Holdings Ltd currently trades 38 % below its own fair value, and the market average says nothing about that. 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 Asia Resources Holdings Ltd (0899)?
The closing price on Sep 29, 2026 was HK$0.3150. Our model-based fair value is HK$0.5100, about +62% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Asia Resources Holdings Ltd right now?
The large discount to fair value meets weak quality (37/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (HK$0.3817). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (HK$0.3817 to HK$0.7625) leaves room in how you read the outcome.

Key figures of Asia Resources Holdings Ltd

How large is the market capitalisation of Asia Resources Holdings Ltd (0899)?
The market capitalisation of Asia Resources Holdings Ltd is HK$118M (≈ $15.0M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Asia Resources Holdings Ltd (0899)?
The price-to-sales ratio of Asia Resources Holdings Ltd is 4.97 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Asia Resources Holdings Ltd (0899)?
Earnings per share at Asia Resources Holdings Ltd are HK$−3.36. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Asia Resources Holdings Ltd (0899)?
The return on equity (ROE) of Asia Resources Holdings Ltd is −37.2% (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 Asia Resources Holdings Ltd (0899)?
On an EBIT basis the return on assets of Asia Resources Holdings Ltd is −3.8% (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 Asia Resources Holdings Ltd (0899)?
The operating margin of Asia Resources Holdings Ltd is −85.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Asia Resources Holdings Ltd (0899)?
Revenue at Asia Resources Holdings Ltd is growing +38.6% versus a year earlier (3y avg +0.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Asia Resources Holdings Ltd (0899)?
Earnings per share at Asia Resources Holdings Ltd are growing +47.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Asia Resources Holdings Ltd (0899) generate?
The free cash flow of Asia Resources Holdings Ltd is −HK$2.0M (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 Asia Resources Holdings Ltd (0899) hold?
Asia Resources Holdings Ltd holds more cash than debt, HK$20.8M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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