1045 (1045) Fair Value & Analysis

Communication Services · Market cap HK$2.0B

1 1045 1045 · HK

PriceHK$2.19

Fair ValueHK$2.60

Upside+18.7%

Quality58/100

Evidence: High Range HK$1.95 – HK$3.30

Fair value as of: Jul 2, 2026

From 22 valuation models · updated today

Share price −35.3% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$1.88 – HK$5.17 · fair‑value band HK$1.95 – HK$3.30 · the HK$2.19 price screens below the HK$2.60 fair value. As of Jul 2, 2026.

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Analysis

1045 (1045) currently trades at HK$2.19, while our model-based Fair Value estimate is HK$2.60 — implying the stock looks roughly 18.7% undervalued today. We read business quality at 58/100 (solid quality), in the Communication Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high) — always confirm before acting.

Over the trailing twelve months, 1045 generated revenue of HK$739M at a net margin of 19.1%. Revenue declined 8.5% year over year. It earns a return on equity of 2.3%. The balance sheet holds a net cash position of HK$326M. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$739M

Revenue growth (YoY) -8.5%

Net margin 19.1%

Return on equity 2.3%

Free cash flow HK$392M FY2025

P/E ratio 14.6

More key figures

Operating margin 10.3%

EPS (TTM) HK$0.0800

Dividend yield 3.9%

EPS growth (YoY) -38.2%

Net cash HK$326M FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

1045 reported revenue of HK$739M in FY2025 versus HK$928M in FY2021, a compound −5.5%/yr. Reported net income was HK$142M in FY2025, compounding −14.3%/yr from FY2021.

Revenue −5.5%/yr

FY21 HK$928M

FY22 HK$944M

FY23 HK$834M

FY24 HK$785M

FY25 HK$739M

Net income −14.3%/yr

FY21 HK$263M

FY22 HK$232M

FY23 HK$238M

FY24 HK$205M

FY25 HK$142M

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Similar stocks

6 more Telecom Services stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).

Stock	Price	Fair Value	vs Fair Value
China Mobile Limited 600941	¥91.93	¥96.98	+5%
SoftBank Group SFTBF	$44.85	$68.21	+52%
T-Mobile US, Inc TM5	€158.74	€267.43	+68%
Verizon Communications Inc BAC	€39.83	€66.07	+66%
AT&T Inc SOBA	€19.54	€45.50	+133%
Deutsche Telekom AG DTE	€26.12	€44.50	+70%

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Frequently asked questions

Is 1045 (1045) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$2.60 versus a price of HK$2.19 — about +19% (undervalued). Model-based estimate, not financial advice.

What is the fair value of 1045?

Our model-based fair value for 1045 is HK$2.60 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$2.19.

What is the quality score of 1045?

1045 has a Quality Score of 58/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 1045 (1045)?

1045 reported trailing-twelve-month revenue of about HK$739M (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 1045?

The net profit margin of 1045 is about 19.1%, meaning it keeps roughly 19.1% of revenue as net income. Based on the latest reported figures.

Does 1045 pay a dividend?

1045 currently shows a dividend yield of about 3.90% relative to its recent price (as of Jul 2, 2026).

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.