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Hua Yin International Holdings Ltd (0989) fair value: what the stock is really worth

As of Sep 29, 2026: fair value of Hua Yin International Holdings Ltd HK$0.70, price HK$0.55, upside +28.3%, quality 44 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 BMG464011086

HY Thin data Sep 27, 2026

Hua Yin International Holdings Ltd

0989 · HK

SpeculativeUpside exists, but weak quality makes the signal speculative.

✓Fair value HK$0.6991 · Undervalued (+28.3%)
!Quality 44/100
!Weak Growth (revenue 5y −19.8 %/yr)
!Negative equity (buybacks among others) · negative free cash flow
!Trails peers (2/7)
!Narrow moat 0/100
!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$16.20 HK$0.1960 Fair Value HK$0.6991 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$0.1960 – HK$16.20 · fair‑value band HK$0.4865 – HK$0.9069 · the HK$0.5450 price screens below the HK$0.6991 fair value. Dashed = 300-day average. As of Sep 27, 2026.

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Company profile

China Changbaishan International Holdings Limited, an investment holding company, engages in the property development and management business in the People's Republic of China. It operates through two segments, Property Development and Management, and Property Investment.

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China Changbaishan International Holdings Limited, an investment holding company, engages in the property development and management business in the People's Republic of China. It operates through two segments, Property Development and Management, and Property Investment. The Property Development and Management segment develops properties; and provides management services, including planning, designing, budgeting, licensing, contract tendering, and contract administration. The Property Investment segment holds properties for long-term investment and leasing purposes, such as shopping mall units. It is also involved in real estate property and rental management. The company was formerly known as Hua Yin International Holdings Limited and changed its name to China Changbaishan International Holdings Limited in September 2025. China Changbaishan International Holdings Limited was founded in 1990 and is headquartered in Wan Chai, Hong Kong.

Stock analysis

Hua Yin International Holdings Ltd (0989) currently trades at HK$0.5450, while our model-based Fair Value estimate is HK$0.6991, implying the stock looks roughly 22.0% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of HK$5.07 per share, and 5 of the 5 models we run sit above the HK$0.5450 price.

Bear case: the Multiples group reads lowest at HK$0.9200, and 0 of the 5 models stay below the price. Evidence for this calculation is low.

Scenario range: HK$0.4865 (bear) to HK$0.9069 (bull), the price of HK$0.5450 sits inside 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 44/100 (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.

Hua Yin International Holdings Ltd reported revenue of HK$50.8M in FY2026 versus HK$112M in FY2022, a compound −17.9%/yr. Reported net income was HK$118M in FY2026.

Key figures

Market cap HK$267M (≈ $34.0M) · P/S ratio 5.06 · EPS (TTM) HK$−0.7800 · Net margin 232% · Return on equity −61.7% · Return on assets (EBIT) 1.4% · Operating margin −88.4% · Revenue (TTM) HK$52.7M.

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 41% below its 52-week high and 30% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at −16% fair-value upside, at 28%, 0989 screens cheaper than that median.

Fair Value models

Bear HK$0.4865 Fair Value HK$0.6991 Bull HK$0.9069
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
Owner Earnings HK$3.74 HK$5.07 HK$7.50 76
Graham-Dodd HK$2.23 HK$2.87 HK$3.28 67
Growth-Adj P/E HK$5.98 HK$8.54 HK$11.10 67
All 5 models by family
DCF Models
Owner Earnings HK$3.74 HK$5.07 HK$7.50 76
Earnings-Based
Graham-Dodd HK$2.23 HK$2.87 HK$3.28 67
Multiples
P/E Multiple HK$8.60 HK$11.46 HK$14.33 63
P/S Multiple HK$0.6900 HK$0.9200 HK$1.15 58
Growth Earnings
Growth-Adj P/E HK$5.98 HK$8.54 HK$11.10 67

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Quality Score breakdown

Overall quality 44/100

Of which business quality 42 · Market factors (momentum, volatility) 18

Profitability 50
Margins and returns on capital today
Quality Growth 60
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 4
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 28
Calm price path (market factor)
Momentum 13
Price trend over the last 3–12 months (market factor)
52W Momentum 16
Distance to the 52-week high (market factor)
Net Issuance 88
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. 19/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−72.7%
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.
−49.5%
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.
−19.8%
Start year 2021 (pandemic). Over 10 years: −22.2% a year
Revenue growth 28 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%
What shareholders gained per year (last 3 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−30.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−30.6%
Dividend (yield on the price)0.0%
Profit margin 2021 to 2026 ⓘ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.−229% → −48%
⚠ Revenue per share shrinking 16.6%/yr over ~10Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.

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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 2/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 45 · Below median
Fair Value upside +28.3% · Above 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 −2.7% · Bottom 25%
Operating margin (TTM) −88.4% · Bottom 25%
Growth and dividend
Revenue growth −59.9% · 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.
P/S (TTM) 0.65× · Cheaper than median
PEG 5.31× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)71 · 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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Hua Yin International Holdings Ltd · Fair Value
HK$0.6991 +22%Fair Value
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Cite: Fair Value Calculator (2026). "Hua Yin International Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/0989

Frequently asked questions

Is Hua Yin International Holdings Ltd (0989) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$0.6991 versus a price of HK$0.5450, about +28% upside (undervalued).
What is the fair value of 0989?
Our model-based fair value for Hua Yin International Holdings Ltd is HK$0.6991 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$0.5450.
What is the quality score of 0989?
Hua Yin International Holdings Ltd has a Quality Score of 44/100. 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 Hua Yin International Holdings Ltd (0989)?
Our model-based price target is the fair value of HK$0.6991 (as of Sep 27, 2026) from 5 valuation models. Cautious scenario HK$0.4865, optimistic scenario HK$0.9069. It is a calculation from audited fundamentals, not an analyst target.
What is the Hua Yin International Holdings Ltd stock forecast for 2026?
Our models put fair value at HK$0.6991, about +28% upside versus a price of HK$0.5450 (undervalued). Cautious scenario HK$0.4865, optimistic scenario HK$0.9069. The calculation is refreshed regularly with new filings.
What is the revenue of Hua Yin International Holdings Ltd (0989)?
Hua Yin International Holdings Ltd reported trailing-twelve-month revenue of about HK$52.7M (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of Hua Yin International Holdings Ltd (0989)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hua Yin International Holdings Ltd it is HK$0.6991 per share (as of Sep 27, 2026), against a price of HK$0.5450. It is the blended result of 5 valuation models (cash flow, earnings, asset, dividend).
Is Hua Yin International Holdings Ltd stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 0989 trades below its calculated fair value: price HK$0.5450, fair value HK$0.6991, a gap of about +28% (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 0989?
No. The price is what the market pays today (HK$0.5450); the fair value is what the company's own numbers justify (HK$0.6991). For Hua Yin International Holdings Ltd the two are HK$0.1541 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hua Yin International Holdings Ltd worth?
The market values Hua Yin International Holdings Ltd at about HK$267M (market capitalisation, as of Sep 27, 2026). Per share that is HK$0.5450; our models calculate a fair value of HK$0.6991 per share.
What do the bullish and bearish scenarios say about 0989?
Our models span a range for Hua Yin International Holdings Ltd: cautious scenario HK$0.4865, base HK$0.6991, optimistic HK$0.9069 per share (as of Sep 27, 2026, price HK$0.5450). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of 0989?
The PEG ratio of Hua Yin International Holdings Ltd is 5.31 (P/E divided by earnings growth, as of Sep 27, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Hua Yin International Holdings Ltd (0989)?
Balance-sheet figures for Hua Yin International Holdings Ltd (as of Sep 27, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is 0989 from its 52-week high?
Hua Yin International Holdings Ltd trades at HK$0.5450, about 41% below its 52-week high of HK$0.9200 and 30% above the low of HK$0.4200 (as of Sep 29, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.6991 is for.
Which stocks are comparable to Hua Yin International 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 Hua Yin International Holdings Ltd stock attractive at the current price?
The data as of Sep 27, 2026: price HK$0.5450, calculated fair value HK$0.6991 (+28%), Quality Score 44/100, from 5 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 0989 calculated?
We run Hua Yin International Holdings Ltd through 5 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$0.6991, 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. Hua Yin International Holdings Ltd currently trades 22 % 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 Hua Yin International Holdings Ltd (0989)?
The closing price on Sep 29, 2026 was HK$0.5450. Our model-based fair value is HK$0.6991, about +28% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hua Yin International Holdings Ltd right now?
A fairly wide model range (HK$0.4865 to HK$0.9069) leaves room in how you read the outcome. 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 Hua Yin International Holdings Ltd

How large is the market capitalisation of Hua Yin International Holdings Ltd (0989)?
The market capitalisation of Hua Yin International Holdings Ltd is HK$267M (≈ $34.0M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Hua Yin International Holdings Ltd (0989)?
The price-to-sales ratio of Hua Yin International Holdings Ltd is 5.06 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Hua Yin International Holdings Ltd (0989)?
Earnings per share at Hua Yin International Holdings Ltd are HK$−0.7800. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Hua Yin International Holdings Ltd (0989)?
The net margin of Hua Yin International Holdings Ltd is 232% (last twelve months). 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 Hua Yin International Holdings Ltd (0989)?
The return on equity (ROE) of Hua Yin International Holdings Ltd is −61.7% (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 Hua Yin International Holdings Ltd (0989)?
On an EBIT basis the return on assets of Hua Yin International Holdings Ltd is 1.4% (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 Hua Yin International Holdings Ltd (0989)?
The operating margin of Hua Yin International Holdings Ltd is −88.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hua Yin International Holdings Ltd (0989)?
Revenue at Hua Yin International Holdings Ltd is growing −59.9% versus a year earlier (3y avg −49.5%). 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 Hua Yin International Holdings Ltd (0989)?
Earnings per share at Hua Yin International Holdings Ltd are growing +22.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Hua Yin International Holdings Ltd (0989) generate?
The free cash flow of Hua Yin International Holdings Ltd is −HK$41.2M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Hua Yin International Holdings Ltd (0989) carry?
The net debt of Hua Yin International Holdings Ltd is HK$232M (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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