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China Sandi Holdings Ltd (0910) fair value: what the stock is really worth

We calculate from audited financials what China Sandi Holdings Ltd is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

Valuation from Sep 13, 2026. With the latest figures (losses, negative cash flow), a fair value can no longer be calculated.
  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Real Estate · HK · ISIN BMG2118U1018

CS Thin data Sep 13, 2026

China Sandi Holdings Ltd

0910 · HK

SpeculativeUpside exists, but weak quality makes the signal speculative.

✓Fair value HK$0.0192 · Undervalued (+20.0%)
!Quality 36/100
!Weak Growth (revenue 5y −17.6 %/yr)
!Loss-making · -42.8% net margin (TTM)
!Negative equity (buybacks among others) · negative free cash flow
!Trails peers (0/6)
!Narrow moat 14/100
!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$0.6300 HK$0.0100 Fair Value HK$0.0192 Nov 2020 Sep 2026

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

How to read this chart

60‑month range HK$0.0100 – HK$0.6300 · fair‑value band HK$0.0173 – HK$0.0192 · the HK$0.0160 price screens below the HK$0.0192 fair value. Dashed = 300-day average. As of Sep 13, 2026.

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Company profile

China Sandi Holdings Limited, an investment holding company, engages in the property investment and development activities in the Mainland of China. It operates through Property Development and Property Investment segments.

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China Sandi Holdings Limited, an investment holding company, engages in the property investment and development activities in the Mainland of China. It operates through Property Development and Property Investment segments. The company is involved in the development and sale of residential and commercial properties; leasing investment properties; and provision of property management services. It also owns and leases shopping malls, hotels, office units, residential and commercial units, kindergartens, and car parking facilities with rentals; and trades in securities. The Company was formerly known as China Grand Forestry Green Resources Group Limited and changed its name to China Sandi Holdings Limited in October 2012. China Sandi Holdings Limited was incorporated in 1998 and is headquartered in Hong Kong, Hong Kong.

Stock analysis

China Sandi Holdings Ltd (0910) currently trades at HK$0.0160, while our model-based Fair Value estimate is HK$0.0192, implying the stock looks roughly 16.7% undervalued today.

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Valuation

How firm this estimate is: it rests on 2 models at a data quality of 94/100, which puts the evidence level at low.

Scenario range: HK$0.0173 (bear) to HK$0.0192 (bull), the price of HK$0.0160 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 36/100 (below-average quality), in the Real Estate sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

China Sandi Holdings Ltd reported revenue of 1.4B CNY in FY2026 versus 2.9B CNY in FY2022, a compound −17.2%/yr. Reported net income was −588M CNY in FY2026.

Key figures

Market cap HK$81.4M (≈ $10.4M) · P/S ratio 0.06 · Net margin −42.7% · Return on equity −199% · Return on assets (EBIT) −4.0% · Operating margin 8.9% · Revenue (TTM) 1.3B CNY · Revenue growth (YoY) −49.5%.

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 about 62% below its 52-week high and 60% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at −16% fair-value upside, at 20%, 0910 screens cheaper than that median.

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Quality Score breakdown

Overall quality 36/100

Of which business quality 31 · Market factors (momentum, volatility) 48

Profitability 2
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 2
Earnings quality: real cash, not paper profit
Fin. Strength 1
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 55
Price trend over the last 3–12 months (market factor)
52W Momentum 34
Distance to the 52-week high (market factor)
Net Issuance 90
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. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−33.8%
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.
−29.4%
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.
−17.6%
Start year 2021 (pandemic). Over 10 years: +26.2% 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.
+7.2%
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.
19.6% (2020) → −213.5% (2025)
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 - Development · 576 stocks

Beats the industry median on 0/6 measures
Overall it trails its industry peers.
Valuation
Quality Score 31 · Bottom 25%
Fair Value upside +20.0% · Below median
Profitability
Return on equity (TTM) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets 0.3% · Below median
Net margin (TTM) −42.8% · Bottom 25%
Operating margin (TTM) 8.9% · Below median
Growth and dividend
Revenue growth −49.5% · Bottom 25%
Balance sheet
Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Valuation Multiplesvs Real Estate - Development median · lower = cheaper

P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)60 · sector 70
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)0 · sector 12
HEALTH (low debt)0 · sector 83
DIVIDEND (yield)0 · sector 55

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

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

Similar stocks

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

Stock Price Fair Value vs Fair Value
Sun Hung Kai Properties Limited 0016 HK$107.10 HK$155.14 +45%
CK Asset Holdings 1113 HK$46.00 HK$71.49 +55%
Hongkong Land Holdings H78 $8.57 $1.52 −82%
DLF Limited DLF ₹683.00 ₹167.48 −75%
China Overseas Land & Investment Limited 0688 HK$12.42 HK$22.33 +80%
Lodha Developers Limited LODHA ₹1,165 ₹274.14 −76%
Poly Developments and Holdings 600048 ¥5.56 ¥5.87 +6%
China Merchants Shekou Industrial Zone Holdings 001979 ¥7.18 ¥6.04 −16%
The Wharf (Holdings) Limited 0004 HK$19.39 HK$8.31 −57%
CTP N.V CTPNV €12.90 €10.46 −19%

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HK$0.0192 +17%Fair Value
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Cite: Fair Value Calculator (2026). "China Sandi Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/0910

Frequently asked questions

Is China Sandi Holdings Ltd (0910) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of HK$0.0192 versus a price of HK$0.0160, about +20% upside (undervalued).
What is the fair value of 0910?
Our model-based fair value for China Sandi Holdings Ltd is HK$0.0192 (as of Sep 13, 2026), built from audited fundamentals. The current price: HK$0.0160.
What is the quality score of 0910?
China Sandi Holdings Ltd has a Quality Score of 36/100. 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 China Sandi Holdings Ltd (0910)?
Our model-based price target is the fair value of HK$0.0192 (as of Sep 13, 2026) from 2 valuation models. Cautious scenario HK$0.0173, optimistic scenario HK$0.0192. It is a calculation from audited fundamentals, not an analyst target.
What is the China Sandi Holdings Ltd stock forecast for 2026?
Our models put fair value at HK$0.0192, about +20% upside versus a price of HK$0.0160 (undervalued). Cautious scenario HK$0.0173, optimistic scenario HK$0.0192. The calculation is refreshed regularly with new filings.
What is the revenue of China Sandi Holdings Ltd (0910)?
China Sandi Holdings Ltd reported trailing-twelve-month revenue of about 1.3B CNY (latest available figure, as of Sep 13, 2026).
What is the intrinsic value of China Sandi Holdings Ltd (0910)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For China Sandi Holdings Ltd it is HK$0.0192 per share (as of Sep 13, 2026), against a price of HK$0.0160. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is China Sandi Holdings Ltd stock overvalued or undervalued in 2026?
As of Sep 13, 2026, 0910 trades below its calculated fair value: price HK$0.0160, fair value HK$0.0192, a gap of about +20% (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 0910?
No. The price is what the market pays today (HK$0.0160); the fair value is what the company's own numbers justify (HK$0.0192). For China Sandi Holdings Ltd the two are HK$0.0032 per share apart. That gap is exactly why we show both numbers side by side.
How much is China Sandi Holdings Ltd worth?
The market values China Sandi Holdings Ltd at about HK$81.4M (market capitalisation, as of Sep 13, 2026). Per share that is HK$0.0160; our models calculate a fair value of HK$0.0192 per share.
What do the bullish and bearish scenarios say about 0910?
Our models span a range for China Sandi Holdings Ltd: cautious scenario HK$0.0173, base HK$0.0192, optimistic HK$0.0192 per share (as of Sep 13, 2026, price HK$0.0160). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of China Sandi Holdings Ltd (0910)?
Balance-sheet figures for China Sandi Holdings Ltd (as of Sep 13, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 36/100, which measures business quality independently of the share price.
How far is 0910 from its 52-week high?
China Sandi Holdings Ltd trades at HK$0.0160, about 62% below its 52-week high of HK$0.0420 and 60% above the low of HK$0.0100 (as of Sep 29, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.0192 is for.
Which stocks are comparable to China Sandi Holdings Ltd?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, CK Asset Holdings, Hongkong Land Holdings, DLF 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 China Sandi Holdings Ltd stock attractive at the current price?
The data as of Sep 13, 2026: price HK$0.0160, calculated fair value HK$0.0192 (+20%), Quality Score 36/100, from 2 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 0910 calculated?
We run China Sandi Holdings Ltd through 2 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$0.0192, 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. China Sandi Holdings Ltd currently trades 17 % 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 China Sandi Holdings Ltd (0910)?
The closing price on Sep 29, 2026 was HK$0.0160. Our model-based fair value is HK$0.0192, about +20% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with China Sandi Holdings Ltd right now?
The price is below even our cautious bear case (HK$0.0173). The market is more pessimistic than our downside scenario. The models converge in a tight band (HK$0.0173 to HK$0.0192), unusually little disagreement for a valuation. 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.

Key figures of China Sandi Holdings Ltd

How large is the market capitalisation of China Sandi Holdings Ltd (0910)?
The market capitalisation of China Sandi Holdings Ltd is HK$81.4M (≈ $10.4M). 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 China Sandi Holdings Ltd (0910)?
The price-to-sales ratio of China Sandi Holdings Ltd is 0.06 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of China Sandi Holdings Ltd (0910)?
The net margin of China Sandi Holdings Ltd is −42.7% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of China Sandi Holdings Ltd (0910)?
The return on equity (ROE) of China Sandi Holdings Ltd is −199% (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 China Sandi Holdings Ltd (0910)?
On an EBIT basis the return on assets of China Sandi Holdings Ltd is −4.0% (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 China Sandi Holdings Ltd (0910)?
The operating margin of China Sandi Holdings Ltd is 8.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at China Sandi Holdings Ltd (0910)?
Revenue at China Sandi Holdings Ltd is growing −49.5% versus a year earlier (3y avg −29.4%). 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 China Sandi Holdings Ltd (0910)?
Earnings per share at China Sandi Holdings Ltd are growing +59.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does China Sandi Holdings Ltd (0910) generate?
The free cash flow of China Sandi Holdings Ltd is −55.1M CNY (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does China Sandi Holdings Ltd (0910) carry?
The net debt of China Sandi Holdings Ltd is 7.3B CNY (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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