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Golden Solar New Energy Technology Holdings (1121) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$1.0B

GS Golden Solar New Energy Technology Holdings 1121 · HK
PriceHK$0.3300
Fair ValueHK$0.2400
Upside-27.3%
Quality28/100
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Expensive Growth
Loss-making · -198.5% net margin
Low debt · negative free cash flow
Trails peers (2/11)
Narrow moat 0/100
Evidence: Low Range HK$0.2200 – HK$0.2700 Share as image

Fair value as of: Aug 13, 2026

From 3 valuation models · updated 2 days ago

Share price −35.3% over the past month.

Below-average quality, and screening another 27% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$0.2700). The favourable scenario is already priced in.
  • Weak quality (28/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
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Price vs Fair Value (5 years)

HK$16.40 HK$0.3300 Fair Value HK$0.2400 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$0.3300 – HK$16.40 · fair‑value band HK$0.2200 – HK$0.2700 · the HK$0.3300 price screens above the HK$0.2400 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Golden Solar New Energy Technology Holdings (1121) currently trades at HK$0.3300, while our model-based Fair Value estimate is HK$0.2400, implying the stock looks roughly 27.3% overvalued today. The Quality Score stands at 28/100 (below-average quality), in the Consumer Cyclical 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).

Trailing-twelve-month revenue stands at HK$155M. Revenue declined 27.0% year over year. It earns a return on equity of -94.8%. Net debt stands at HK$144M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.2200 (bear case) to HK$0.2700 (bull case); at HK$0.3300, 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. For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at -27%, 1121 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
Gordon GGM HK$0.1800 HK$0.1900 HK$0.2200 70
DDM Multi-Stage HK$0.1800 HK$0.2100 HK$0.2600 61
NCAV (Graham) HK$0.0700 HK$0.0900 HK$0.1400 50
All 3 models by family
Dividend Discount
Gordon GGM HK$0.1800 HK$0.1900 HK$0.2200 70
DDM Multi-Stage HK$0.1800 HK$0.2100 HK$0.2600 61
Asset-Based
NCAV (Graham) HK$0.0700 HK$0.0900 HK$0.1400 50

Widest divergence: Dividend Discount (HK$0.1900) versus Asset-Based (HK$0.0900). Highest evidence: Gordon GGM (70).

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Key figures & financial health

Revenue (TTM) HK$155M
Revenue growth (YoY) -27.0%
Net margin -199%
Return on equity -94.8%
Free cash flow −HK$5.5M FY2025
Operating margin -161%
More key figures
EPS (TTM) HK$-0.0900
Net debt HK$144M FY2025

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

Quality Score breakdown

Overall quality 28/100

Of which business quality 28 · Market factors (momentum, volatility) 15

Profitability 2
Margins and returns on capital today
Quality Growth 0
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 36
Balance sheet, leverage, solvency risk
Investment 94
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 63
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

Golden Solar New Energy Technology Holdings Limited, an investment holding company, manufactures and sells footwear products in the People's Republic of China, the United States, South America, Europe, South East Asia, and internationally.

Full company description

Golden Solar New Energy Technology Holdings Limited, an investment holding company, manufactures and sells footwear products in the People's Republic of China, the United States, South America, Europe, South East Asia, and internationally. It operates through Boree Branded Products, Graphene-based Products, Photovoltaic Products, and Original Equipment Manufacturer segments. The company offers slippers, sandals, and casual footwear under the Boree brand name. It also manufactures and sells graphene-based ethylene-vinyl acetate foam material and slippers, deodorizing and sterilizing chips for air purifiers and air conditioners, and graphene air sterilizers. In addition, the company produces slippers for branding and resale by others; and trades in slippers. Further, the company manufactures and sells cast monocrystalline silicon wafers and cast-mono heterojunction solar cells and modules, hybrid passivation back contact solar cells, HBC flexible modules and the bendable solar awnings. Golden Solar New Energy Technology Holdings Limited was founded in 1999 and is headquartered in Quanzhou, the People's Republic of China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Golden Solar New Energy Technology Holdings reported revenue of HK$155M in FY2025 versus HK$314M in FY2021, a compound −16.1%/yr. Reported net income was −HK$308M in FY2025.

Growth Quality 21/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
HK$155M
Latest YoY
−38.8%
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.
−17.3%
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.
+6.8%
Avg. growth/yr (18Y) 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.
−5.5%
Revenue −16.1%/yr
FY21 HK$314M
FY22 HK$274M
FY23 HK$295M
FY24 HK$254M
FY25 HK$155M
Net income
FY21 HK$9.2M
FY22 −HK$167M
FY23 −HK$326M
FY24 −HK$277M
FY25 −HK$308M

1121 screens 27% overvalued. Compare with NIKE, Inc →

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Cite: Fair Value Calculator (2026). "Golden Solar New Energy Technology Holdings Fair Value". https://www.fairvalue-calculator.com/stock/1121

Peer Group

Footwear & Accessories · 93 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 28 · Bottom 25%
Fair Value upside −27% · Below median
Return on assets -30% · Bottom 25%
Net margin (TTM) -199% · Bottom 25%
Operating margin (TTM) -161% · Bottom 25%
Revenue growth -27% · Bottom 25%
Dividend yield (TTM) 4.3% · Above median
Debt / equity 0.08× · Higher than median

Valuation Multiples vs Footwear & Accessories median · lower = cheaper

P/B 0.50× · Cheaper than 75% of peers
P/S (TTM) 0.85× · Pricier than median

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 11
FUTURE 0 · sector 0
PAST 0 · sector 23
HEALTH 96 · sector 97
DIVIDEND 86 · sector 52

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 Footwear & Accessories stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
NIKE, Inc NKE $40.51 $35.63 -12%
adidas AG 1ADS €158.15 €65.71 -58%
Deckers Outdoor Corporation DECK $93.84 $125.16 +33%
On Holding ONON $30.91 $17.53 -43%
Zhejiang China Commodities City Group 600415 ¥11.81 ¥13.03 +10%
Birkenstock Holding BIRK $36.74 $44.59 +21%
Crocs, Inc CROX $130.61 $203.65 +56%
Huali Industrial Group 300979 ¥36.73 ¥51.36 +40%
PUMA SE PUM €26.69 €10.57 -60%
Yue Yuen Industrial (Holdings) Limited 0551 HK$13.64 HK$4.04 -70%

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Frequently asked questions

Is Golden Solar New Energy Technology Holdings (1121) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.2400 versus a price of HK$0.3300, about −27% (overvalued).
What is the fair value of 1121?
Our model-based fair value for Golden Solar New Energy Technology Holdings is HK$0.2400 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.3300.
What is the quality score of 1121?
Golden Solar New Energy Technology Holdings has a Quality Score of 28/100. 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 Golden Solar New Energy Technology Holdings (1121)?
Golden Solar New Energy Technology Holdings reported trailing-twelve-month revenue of about HK$155M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 1121?
The net profit margin of Golden Solar New Energy Technology Holdings is about -198.5%, 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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