1129 (1129) Fair Value & Analysis

Utilities · Market cap HK$103M

1 1129 1129 · HK

PriceHK$0.1630

Fair ValueHK$0.2700

Upside+65.6%

Quality40/100

Evidence: Medium Range HK$0.2200 – HK$0.3300

Fair value as of: Jul 2, 2026

From 10 valuation models · updated today

Share price −30.3% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$0.1630 – HK$1.22 · fair‑value band HK$0.2200 – HK$0.3300 · the HK$0.1630 price screens below the HK$0.2700 fair value. As of Jul 2, 2026.

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Analysis

1129 (1129) currently trades at HK$0.1630, while our model-based Fair Value estimate is HK$0.2700 — implying the stock looks roughly 65.6% undervalued today. We read business quality at 40/100 (below-average quality), in the Utilities 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: medium) — always confirm before acting.

Trailing-twelve-month revenue stands at HK$234M. Revenue declined 47.5% year over year. It earns a return on equity of -31.1%. Net debt stands at HK$619M. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$234M

Revenue growth (YoY) -47.5%

Net margin -118%

Return on equity -31.1%

Free cash flow HK$11.6M FY2025

Operating margin -42.3%

More key figures

EPS (TTM) HK$-0.1100

EPS growth (YoY) +3,023%

Net debt HK$619M FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

1129 reported revenue of HK$234M in FY2025 versus HK$1.1B in FY2021, a compound −32.1%/yr. Reported net income was −HK$276M in FY2025.

Revenue −32.1%/yr

FY21 HK$1.1B

FY22 HK$1.2B

FY23 HK$734M

FY24 HK$537M

FY25 HK$234M

Net income

FY21 −HK$44.0M

FY22 −HK$89.2M

FY23 −HK$243M

FY24 −HK$322M

FY25 −HK$276M

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Similar stocks

6 more Utilities - Regulated Water stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).

Stock	Price	Fair Value	vs Fair Value
American Water Works Company A1WK34	R$162.24	R$74.29	-54%
SBS SBS	$5.48	$5.12	-7%
SBSP3 SBSP3	R$27.52	R$31.23	+13%
United Utilities Group UUGRY	$34.94	$29.62	-15%
Severn Trent PLC STRNY	$38.53	$27.88	-28%
Essential Utilities, Inc WTRG	$36.68	$23.46	-36%

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Frequently asked questions

Is 1129 (1129) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$0.2700 versus a price of HK$0.1630 — about +66% (undervalued). Model-based estimate, not financial advice.

What is the fair value of 1129?

Our model-based fair value for 1129 is HK$0.2700 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$0.1630.

What is the quality score of 1129?

1129 has a Quality Score of 40/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 1129 (1129)?

1129 reported trailing-twelve-month revenue of about HK$234M (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 1129?

The net profit margin of 1129 is about -118.0%, 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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.