XinKong International Capital Holdings (0993) Fair Value & Analysis
Financial Services · HK · Market cap HK$766M
Fair value as of: Aug 13, 2026
From 2 valuation models · updated 2 days ago
Share price −11.5% over the past month.
A solid business, but screening 80% overvalued on our models.
What matters now
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range HK$0.0410 – HK$0.5400 · the HK$0.1000 price screens above the HK$0.0200 fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
XinKong International Capital Holdings (0993) currently trades at HK$0.1000, while our model-based Fair Value estimate is HK$0.0200, implying the stock looks roughly 80.0% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Financial Services 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).
It earns a return on equity of -79.2%. Net debt stands at HK$9.7B. Fundamentals as of Aug 13, 2026
The share trades about 67% below its 52-week high and 27% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -33% fair-value upside, at -80%, 0993 screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 2 models by family
Widest divergence: Growth DCF (HK$0.1200) versus DCF Models (HK$0.0700). Highest evidence: Growth DCF (80).
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Key figures & financial health
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 64 · Market factors (momentum, volatility) 25
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
XinKong International Capital Holdings Limited, an investment holding company, provides financial services in Hong Kong and Mainland China. It operates through Securities, Corporate Finance, Asset Management and Direct Investment, and Financial Services and Others segments.
Full company description
XinKong International Capital Holdings Limited, an investment holding company, provides financial services in Hong Kong and Mainland China. It operates through Securities, Corporate Finance, Asset Management and Direct Investment, and Financial Services and Others segments. The company engages in the broking and dealing of securities and provision of margin financing services. It also provides initial public offerings and underwritings, rights issue, share and convertible bonds placing, financial advisory, and offshore bonds issuance etc. In addition, the company offers asset management services, as well as direct investments in equities, bonds, funds, derivative instruments, and other financial products; and provides finance leasing and other related services. Further, it provides management services; and advisory and corporate financing. The company was formerly known as Huarong International Financial Holdings Limited and changed its name to XinKong International Capital Holdings Limited in February 2025. The company was founded in 1973 and is headquartered in Wan Chai, Hong Kong.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
XinKong International Capital Holdings reported revenue of HK$39.5M in FY2025 versus HK$59.6M in FY2021, a compound −9.8%/yr. Reported net income was −HK$754M in FY2025.
0993 screens 80% overvalued. Compare with BlackRock, Inc →
Peer Group
Asset Management · 692 stocks
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.
Valuation Multiples vs Asset Management median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Asset Management stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| BlackRock, Inc BLK | $1,161 | $465.75 | -60% |
| Blackstone Inc BX | $146.41 | $52.88 | -64% |
| Investor AB INVEB | kr 417.90 | kr 835.80 | +100% |
| AB Industrivärden INDUA | kr 544.00 | kr 375.93 | -31% |
| ICICIAMC ICICIAMC | ₹3,077 | ₹1,132 | -63% |
| Jio Financial Services Limited JIOFIN | ₹256.05 | ₹171.84 | -33% |
| Hedef Holding HEDEF | 267.25 TRY | 321.44 TRY | +20% |
| Bajaj Holdings BAJAJHLDNG | ₹11,579 | ₹11,257 | -3% |
| HDFC Asset Management Company HDFCAMC | ₹2,490 | ₹866.78 | -65% |
| Nippon Life Asset Management Limited NAMINDIA | ₹1,182 | ₹311.00 | -74% |
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Frequently asked questions
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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.
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