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CT Vision (International) Holdings (0994) Fair Value & Analysis

Industrials · HK · Market cap HK$413M

CV CT Vision (International) Holdings 0994 · HK
PriceHK$0.2800
Fair ValueHK$0.1200
Upside-57.1%
Quality26/100
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Weak Growth
Loss-making · -17.9% net margin
Low debt · generates free cash flow
Trails peers (3/11)
Narrow moat 5/100
Evidence: Low Range HK$0.1100 – HK$0.1300 Share as image

Fair value as of: Aug 13, 2026

From 7 valuation models · updated 2 days ago

Share price −15.2% over the past month.

Below-average quality, and screening another 57% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$0.1300). The favourable scenario is already priced in.
  • Weak quality (26/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
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Price vs Fair Value (5 years)

HK$2.45 HK$0.0930 Fair Value HK$0.1200 Mar 2021 Aug 2026

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$0.0930 – HK$2.45 · fair‑value band HK$0.1100 – HK$0.1300 · the HK$0.2800 price screens above the HK$0.1200 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

CT Vision (International) Holdings (0994) currently trades at HK$0.2800, while our model-based Fair Value estimate is HK$0.1200, implying the stock looks roughly 57.1% overvalued today. The Quality Score stands at 26/100 (below-average quality), in the Industrials 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, CT Vision (International) Holdings generated revenue of HK$184M at a net margin of -17.9%. Revenue declined 89.7% year over year. It earns a return on equity of -26.6%. The balance sheet holds a net cash position of HK$101M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.1100 (bear case) to HK$0.1300 (bull case); at HK$0.2800, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 53% below its 52-week high and 85% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -34% fair-value upside, at -57%, 0994 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.

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. Evidence
Highest evidence
Growth DCF HK$0.1100 HK$0.1200 HK$0.1300 80
Rev-Margin DCF HK$0.1100 HK$0.1200 HK$0.1400 74
NCAV (Graham) HK$0.0600 HK$0.0800 HK$0.1200 50
All 7 models by family
DCF Models
FCF DCF HK$0.1100 HK$0.1200 HK$0.1300 38
5Y Revenue Exit HK$0.1100 HK$0.1200 HK$0.1400 39
10Y Revenue Exit HK$0.1100 HK$0.1200 HK$0.1300 36
Multiples
EV/Revenue HK$0.1100 HK$0.1300 HK$0.1400 43
Asset-Based
NCAV (Graham) HK$0.0600 HK$0.0800 HK$0.1200 50
Growth DCF
Growth DCF HK$0.1100 HK$0.1200 HK$0.1300 80
Rev-Margin DCF HK$0.1100 HK$0.1200 HK$0.1400 74

Widest divergence: Multiples (HK$0.1300) versus Asset-Based (HK$0.0800). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$184M
Revenue growth (YoY) -89.7%
Net margin -17.9%
Return on equity -26.6%
Free cash flow HK$4.3M FY2025
Operating margin -88.1%
More key figures
EPS (TTM) HK$-0.0100
EPS growth (YoY) -45.4%
Net cash HK$101M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 26/100

Of which business quality 31 · Market factors (momentum, volatility) 49

Profitability 5
Margins and returns on capital today
Quality Growth 18
Are margins and returns improving?
Cashflow 47
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 52
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 54
Distance to the 52-week high (market factor)
Net Issuance 16
Buybacks instead of dilution

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

CT Vision (International) Holdings Limited, an investment holding company, engages in the renewable energy, e-commerce, and building information modelling businesses in the People's Republic of China.

Full company description

CT Vision (International) Holdings Limited, an investment holding company, engages in the renewable energy, e-commerce, and building information modelling businesses in the People's Republic of China. The company provides construction service of renewable energy systems for solar and wind power systems, as well as engages in the rental of solar power system; and sells parts relating to renewable energy business to customers. It also offers online merchant related services; and construction and engineering services. The company was formerly known as CT Vision S.L. (International) Holdings Limited and changed its name to CT Vision (International) Holdings Limited in March 2021. The company was founded in 1999 and is headquartered in Wan Chai, Hong Kong. CT Vision (International) Holdings Limited operates as a subsidiary of CT Vision Investment Limited.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

CT Vision (International) Holdings reported revenue of HK$184M in FY2025 versus HK$207M in FY2021, a compound −2.9%/yr. Reported net income was −HK$32.9M in FY2025.

Growth Quality 18/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$184M
Latest YoY
−67.0%
Avg. growth/yr (3Y) 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.
−4.8%
Avg. growth/yr (5Y) 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.
−6.0%
Avg. growth/yr (11Y) 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.
−7.8%
Revenue −2.9%/yr
FY21 HK$207M
FY22 HK$213M
FY23 HK$346M
FY24 HK$558M
FY25 HK$184M
Net income
FY21 −HK$101M
FY22 −HK$88.4M
FY23 −HK$21.6M
FY24 −HK$23.8M
FY25 −HK$32.9M

0994 screens 57% overvalued. Compare with Larsen & Toubro Limited →

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Cite: Fair Value Calculator (2026). "CT Vision (International) Holdings Fair Value". https://www.fairvalue-calculator.com/stock/0994

Peer Group

Engineering & Construction · 838 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.

Quality Score 26 · Bottom 25%
Fair Value upside −57% · Bottom 25%
Return on assets -5% · Bottom 25%
Net margin (TTM) -18% · Bottom 25%
Operating margin (TTM) -88% · Bottom 25%
Revenue growth -90% · Bottom 25%

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/B 0.35× · Cheaper than 75% of peers
P/S (TTM) 0.29× · Cheaper than median
P/FCF 12.1× · Pricier than 75% of peers

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 · sector 14
FUTURE 0 · sector 14
PAST 0 · sector 26
HEALTH 100 · sector 94
DIVIDEND 0 · sector 42

VALUE 0: the price sits above our fair-value range.

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹4,020 ₹1,994 -50%
Samsung C&T Corporation 028260 357,500 KRW 261,411 KRW -27%
Hyundai Engineering & Construction Co 000720 113,700 KRW 61,453 KRW -46%
Samsung E&A Co 028050 49,300 KRW 43,624 KRW -12%
Rail Vikas Nigam Limited RVNL ₹230.00 ₹48.92 -79%
Daewoo Engineering & Construction Co 047040 18,400 KRW 6,507 KRW -65%
KEPCO Engineering & Construction Company 052690 99,800 KRW 19,346 KRW -81%
GS Engineering & Construction Corporation 006360 35,200 KRW 23,135 KRW -34%
DL E&C Co 375500 73,500 KRW 148,433 KRW +102%
KEPCO Plant Service & Engineering Co 051600 45,400 KRW 43,924 KRW -3%

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Frequently asked questions

Is CT Vision (International) Holdings (0994) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.1200 versus a price of HK$0.2800, about −57% (overvalued).
What is the fair value of 0994?
Our model-based fair value for CT Vision (International) Holdings is HK$0.1200 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.2800.
What is the quality score of 0994?
CT Vision (International) Holdings has a Quality Score of 26/100. 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 revenue of CT Vision (International) Holdings (0994)?
CT Vision (International) Holdings reported trailing-twelve-month revenue of about HK$184M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 0994?
The net profit margin of CT Vision (International) Holdings is about -17.9%, 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.

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