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Luoyang Glass Co Ltd (1108) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Luoyang Glass Co Ltd HK$3.55, price HK$2.16, upside +64.4%, quality 24 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

Basic Materials · HK · Home China · ISIN CNE1000003Q0

LG Luoyang Glass Co Ltd logo Thin data Sep 24, 2026

Luoyang Glass Co Ltd

1108 · HK

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value HK$3.55 · Strongly undervalued (+64%)
!Quality 24/100
!Weak Growth (revenue 5y +1.3 %/yr)
!Loss-making · -37.8% net margin (TTM)
!Moderate debt · negative free cash flow
!Mixed vs. peers (5/12)
!Narrow moat 9/100
!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$19.68 HK$2.16 Fair Value HK$3.55 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range HK$2.16 – HK$19.68 · fair‑value band HK$2.65 – HK$5.29 · the HK$2.16 price screens below the HK$3.55 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Triumph New Energy Company Limited engages in research, development, production, and sales of new energy materials.

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Triumph New Energy Company Limited engages in research, development, production, and sales of new energy materials. The company provides screen printed glass, backboard drilling tempered glass, ultra white ultra-thin photovoltaic glass, ultra white rolled photovoltaic coated glass, ultra white rolled photovoltaic tempered glass, ultra white rolled photovoltaic raw glass, original glass, tempered glass, AR film glass, backboard glass, double glass component glass, and AR photovoltaic coated glass. It also offers transparency photovoltaic glass tempered sheet and photovoltaic glass. Triumph New Energy Company Limited was formerly known as Luoyang Glass Company Limited and changed its name to Triumph New Energy Company Limited in March 2023. Triumph New Energy Company Limited was founded in 1956 and is based in Luoyang, China.

Stock analysis

Luoyang Glass Co Ltd (1108) currently trades at HK$2.16, while our model-based Fair Value estimate is HK$3.55, implying the stock looks roughly 39.2% undervalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 89/100, which puts the evidence level at low.

Scenario range: HK$2.65 (bear) to HK$5.29 (bull), the price of HK$2.16 sits below 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 24/100 (below-average quality), in the Basic Materials sector.

Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.

Luoyang Glass Co Ltd reported revenue of 3.2B CNY in FY2025 versus 3.6B CNY in FY2021, a compound −2.6%/yr. Reported net income was −914M CNY in FY2025.

Key figures

Market cap HK$1.6B (≈ $199M) · P/S ratio 0.52 · EPS (TTM) HK$−1.33 · Dividend yield 8.4% · Net margin −28.2% · Return on equity −32.9% · Return on assets (EBIT) 0.1% · Operating margin −44.1%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (medium confidence).

What moves the price

The share trades about 51% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −47% fair-value upside, at 64%, 1108 screens cheaper than that median.

Fair Value models

Bear HK$2.65 Fair Value HK$3.55 Bull HK$5.29
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. 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
NCAV (Graham) HK$2.41 HK$3.23 HK$4.82 54
All 1 models by family
Asset-Based
NCAV (Graham) HK$2.41 HK$3.23 HK$4.82 54

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Quality Score breakdown

Overall quality 24/100

Of which business quality 23 · Market factors (momentum, volatility) 26

Profitability 2
Margins and returns on capital today
Quality Growth 7
Are margins and returns improving?
Cashflow 7
Earnings quality: real cash, not paper profit
Fin. Strength 9
Balance sheet, leverage, solvency risk
Investment 64
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 12
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 87
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. 8/100
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
−29.4%
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.
−13.6%
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.
+1.3%
Start year 2020 (pandemic). Over 10 years: +17.2% a year
Revenue growth 30 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.
+4.2%
Profit margin (trend) ⓘ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.
15.2% (2020) → −29.9% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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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.Building Materials · 258 stocks

Beats the industry median on 5/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 23 · Bottom 25%
Fair Value upside +60% · Top 25%
Profitability
Return on assets −5% · Bottom 25%
Net margin (TTM) −38% · Bottom 25%
Operating margin (TTM) −44% · Bottom 25%
Growth and dividend
Revenue growth −25% · Bottom 25%
Dividend yield (TTM) 8.4% · Top 25%
Balance sheet
Debt / equity 1.02× · Highest 25%

Valuation Multiplesvs Building Materials median · lower = cheaper

P/B 0.06× · Cheapest 25%
P/S (TTM) 0.07× · Cheapest 25%
PEG 0.29× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 25
FUTURE (revenue growth)0 · sector 2
PAST (return on equity)0 · sector 15
HEALTH (low debt)49 · sector 92
DIVIDEND (yield)100 · sector 46

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 Building Materials stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
CRH plc CRH $88.04 $74.79 −15%
Holcim AG HOLN CHF 66.32 CHF 33.05 −50%
Vulcan Materials Company VMC $247.87 $131.48 −47%
UltraTech Cement Limited ULTRACEMCO ₹11,155 ₹4,719 −58%
Martin Marietta Materials, Inc MLM $499.34 $245.83 −51%
China Jushi Co 600176 ¥45.62 ¥29.50 −35%
Amrize AG AMRZ $39.00 $34.66 −11%
Grasim Industries Limited GRASIM ₹3,189 ₹1,245 −61%
CEMEX, S.A. CX $10.24 $25.27 +147%
James Hardie Industries plc JHX A$38.17 A$7.93 −79%

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Luoyang Glass Co Ltd · Fair Value
HK$3.55 +39%Fair Value
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Cite: Fair Value Calculator (2026). "Luoyang Glass Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/1108

Frequently asked questions

Is Luoyang Glass Co Ltd (1108) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of HK$3.55 versus a price of HK$2.16, about +64% upside (undervalued).
What is the fair value of 1108?
Our model-based fair value for Luoyang Glass Co Ltd is HK$3.55 (as of Sep 24, 2026), built from audited fundamentals. The current price: HK$2.16.
What is the quality score of 1108?
Luoyang Glass Co Ltd has a Quality Score of 24/100. 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 Luoyang Glass Co Ltd (1108)?
Our model-based price target is the fair value of HK$3.55 (as of Sep 24, 2026) from 1 valuation models. Cautious scenario HK$2.65, optimistic scenario HK$5.29. It is a calculation from audited fundamentals, not an analyst target.
What is the Luoyang Glass Co Ltd stock forecast for 2026?
Our models put fair value at HK$3.55, about +64% upside versus a price of HK$2.16 (undervalued). Cautious scenario HK$2.65, optimistic scenario HK$5.29. The calculation is refreshed regularly with new filings.
What is the revenue of Luoyang Glass Co Ltd (1108)?
Luoyang Glass Co Ltd reported trailing-twelve-month revenue of about 3.0B CNY (latest available figure, as of Sep 24, 2026).
Does Luoyang Glass Co Ltd pay a dividend?
Luoyang Glass Co Ltd currently shows a dividend yield of about 8.39% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Luoyang Glass Co Ltd (1108)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Luoyang Glass Co Ltd it is HK$3.55 per share (as of Sep 24, 2026), against a price of HK$2.16. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Luoyang Glass Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 1108 trades below its calculated fair value: price HK$2.16, fair value HK$3.55, a gap of about +64% (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 1108?
No. The price is what the market pays today (HK$2.16); the fair value is what the company's own numbers justify (HK$3.55). For Luoyang Glass Co Ltd the two are HK$1.39 per share apart. That gap is exactly why we show both numbers side by side.
How much is Luoyang Glass Co Ltd worth?
The market values Luoyang Glass Co Ltd at about HK$1.6B (market capitalisation, as of Sep 24, 2026). Per share that is HK$2.16; our models calculate a fair value of HK$3.55 per share.
What do the bullish and bearish scenarios say about 1108?
Our models span a range for Luoyang Glass Co Ltd: cautious scenario HK$2.65, base HK$3.55, optimistic HK$5.29 per share (as of Sep 24, 2026, price HK$2.16). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of 1108?
The PEG ratio of Luoyang Glass Co Ltd is 0.29 (P/E divided by earnings growth, as of Sep 24, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Luoyang Glass Co Ltd (1108)?
Balance-sheet figures for Luoyang Glass Co Ltd (as of Sep 24, 2026): return on equity −32.9%, debt of 1.02 per unit of equity. They feed the Quality Score of 24/100, which measures business quality independently of the share price.
How far is 1108 from its 52-week high?
Luoyang Glass Co Ltd trades at HK$2.16, about 51% below its 52-week high of HK$4.43 and at the low of HK$2.16 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of HK$3.55 is for.
Which stocks are comparable to Luoyang Glass Co Ltd?
From the same area (Basic Materials) we also value CRH plc, Holcim AG, Vulcan Materials Company, UltraTech Cement 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 Luoyang Glass Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price HK$2.16, calculated fair value HK$3.55 (+64%), Quality Score 24/100, from 1 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 1108 calculated?
We run Luoyang Glass Co Ltd through 1 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$3.55, 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 13.0 % above its aggregate fair value. Luoyang Glass Co Ltd currently trades 64 % 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 Luoyang Glass Co Ltd (1108)?
The closing price on Sep 24, 2026 was HK$2.16. Our model-based fair value is HK$3.55, about +64% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Luoyang Glass Co Ltd right now?
The large discount to fair value meets weak quality (24/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (HK$2.65). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (HK$2.65 to HK$5.29) leaves room in how you read the outcome.

Key figures of Luoyang Glass Co Ltd

How large is the market capitalisation of Luoyang Glass Co Ltd (1108)?
The market capitalisation of Luoyang Glass Co Ltd is HK$1.6B (≈ $199M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Luoyang Glass Co Ltd (1108)?
The price-to-sales ratio of Luoyang Glass Co Ltd is 0.52 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Luoyang Glass Co Ltd (1108)?
Earnings per share at Luoyang Glass Co Ltd are HK$−1.33. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Luoyang Glass Co Ltd (1108)?
The dividend yield of Luoyang Glass Co Ltd is 8.4%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Luoyang Glass Co Ltd (1108)?
The net margin of Luoyang Glass Co Ltd is −28.2% (fiscal year 2025). 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 Luoyang Glass Co Ltd (1108)?
The return on equity (ROE) of Luoyang Glass Co Ltd is −32.9% (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 Luoyang Glass Co Ltd (1108)?
On an EBIT basis the return on assets of Luoyang Glass Co Ltd is 0.1% (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 Luoyang Glass Co Ltd (1108)?
The operating margin of Luoyang Glass Co Ltd is −44.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Luoyang Glass Co Ltd (1108)?
Revenue at Luoyang Glass Co Ltd is growing −24.5% versus a year earlier (3y avg −13.6%). 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 Luoyang Glass Co Ltd (1108)?
Earnings per share at Luoyang Glass Co Ltd are growing +25.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Luoyang Glass Co Ltd (1108) generate?
The free cash flow of Luoyang Glass Co Ltd is −1.2B CNY (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 Luoyang Glass Co Ltd (1108) carry?
The net debt of Luoyang Glass Co Ltd is 5.5B CNY (fiscal year 2025). 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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