0931 (0931) Fair Value & Analysis

Energy · Market cap HK$2.4B

0 0931 0931 · HK

PriceHK$0.3000

Fair ValueHK$0.1600

Upside-46.7%

Quality36/100

Evidence: Low Range HK$0.0800 – HK$0.2400

Fair value as of: Jul 2, 2026

From 2 valuation models · updated today

Share price −11.8% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$0.2180 – HK$0.7200 · fair‑value band HK$0.0800 – HK$0.2400 · the HK$0.3000 price screens above the HK$0.1600 fair value. As of Jul 2, 2026.

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Analysis

0931 (0931) currently trades at HK$0.3000, while our model-based Fair Value estimate is HK$0.1600 — implying the stock looks roughly 46.7% overvalued today. We read business quality at 36/100 (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: low).

Over the trailing twelve months, 0931 generated revenue of HK$714M at a net margin of -17.4%. Revenue grew 0.1% year over year. It earns a return on equity of -42.7%. Net debt stands at HK$669M. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$714M

Revenue growth (YoY) +0.1%

Net margin -17.4%

Return on equity -42.7%

Free cash flow −HK$133M FY2024

Operating margin -16.2%

More key figures

EPS (TTM) HK$-0.0200

Net debt HK$669M FY2024

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

Revenue & earnings trend

FY2020 – FY2024 · reported fiscal years

0931 reported revenue of HK$713M in FY2024 versus HK$1.9B in FY2020, a compound −21.3%/yr. Reported net income was −HK$106M in FY2024.

Revenue −21.3%/yr

FY20 HK$1.9B

FY21 HK$433M

FY22 HK$212M

FY23 HK$454M

FY24 HK$713M

Net income

FY20 −HK$252M

FY21 −HK$199M

FY22 −HK$167M

FY23 −HK$139M

FY24 −HK$106M

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Similar stocks

6 more Oil & Gas Refining & Marketing stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).

Stock	Price	Fair Value	vs Fair Value
Reliance Industries Limited RELIANCE	₹1,259	₹835.66	-34%
Marathon Petroleum Corporation MPC	$263.28	$114.61	-56%
Valero Energy Corporation VLO	$257.99	$109.18	-58%
Phillips 66 PSX	$168.41	$61.46	-64%
Neste Oyj NESTE	€28.45	€6.38	-78%
ENEOS Holdings JXHLY	$16.46	$17.72	+8%

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Frequently asked questions

Is 0931 (0931) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$0.1600 versus a price of HK$0.3000 — about −47% (overvalued). Model-based estimate, not financial advice.

What is the fair value of 0931?

Our model-based fair value for 0931 is HK$0.1600 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$0.3000.

What is the quality score of 0931?

0931 has a Quality Score of 36/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 0931 (0931)?

0931 reported trailing-twelve-month revenue of about HK$714M (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 0931?

The net profit margin of 0931 is about -17.4%, 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.