1146 (1146) Fair Value & Analysis

Consumer Cyclical · Market cap HK$179M

1 1146 1146 · HK

PriceHK$0.0520

Fair ValueHK$0.0926

Upside+78.0%

Quality48/100

Evidence: Low Range HK$0.0666 – HK$0.1082

Fair value as of: Jul 2, 2026

From 1 valuation models · updated today

Share price −11.4% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$0.0252 – HK$0.0763 · fair‑value band HK$0.0666 – HK$0.1082 · the HK$0.0520 price screens below the HK$0.0926 fair value. As of Jul 2, 2026.

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Analysis

1146 (1146) currently trades at HK$0.0520, while our model-based Fair Value estimate is HK$0.0926 — implying the stock looks roughly 78.0% undervalued today. We read business quality at 48/100 (below-average quality), in the Consumer Cyclical 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: low) — always confirm before acting.

Over the trailing twelve months, 1146 generated revenue of HK$139M at a net margin of -67.0%. Revenue declined 2.3% year over year. It earns a return on equity of -10.3%. The balance sheet holds a net cash position of HK$60.6M. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$139M

Revenue growth (YoY) -2.3%

Net margin -67.0%

Return on equity -10.3%

Free cash flow −HK$17.7M FY2025

Operating margin -74.1%

More key figures

EPS (TTM) HK$-0.0100

EPS growth (YoY) -46.2%

Net cash HK$60.6M FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

1146 reported revenue of HK$139M in FY2025 versus HK$324M in FY2021, a compound −19.0%/yr. Reported net income was −HK$93.4M in FY2025.

Revenue −19.0%/yr

FY21 HK$324M

FY22 HK$207M

FY23 HK$208M

FY24 HK$156M

FY25 HK$139M

Net income

FY21 −HK$152M

FY22 −HK$252M

FY23 −HK$143M

FY24 −HK$109M

FY25 −HK$93.4M

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Similar stocks

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

Stock	Price	Fair Value	vs Fair Value
H & M Hennes & Mauritz AB HMB	kr 165.70	kr 144.10	-13%
Ralph Lauren Corporation RL	$366.55	$365.78	-0%
Moncler S.p.A MONC	€53.84	€38.28	-29%
Gildan Activewear Inc GIL	$52.09	$33.02	-37%
LPP SA LPP	21,880 PLN	18,197 PLN	-17%
Levi Strauss & Co LEVI	$22.95	$14.47	-37%

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Frequently asked questions

Is 1146 (1146) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$0.0926 versus a price of HK$0.0520 — about +78% (undervalued). Model-based estimate, not financial advice.

What is the fair value of 1146?

Our model-based fair value for 1146 is HK$0.0926 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$0.0520.

What is the quality score of 1146?

1146 has a Quality Score of 48/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 1146 (1146)?

1146 reported trailing-twelve-month revenue of about HK$139M (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 1146?

The net profit margin of 1146 is about -67.0%, 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.