1231 (1231) Fair Value & Analysis

Basic Materials · Market cap HK$1.2B

1 1231 1231 · HK

PriceHK$0.3050

Fair ValueHK$0.1600

Upside-47.5%

Quality61/100

Evidence: Low Range HK$0.0800 – HK$0.1600

Fair value as of: Jul 2, 2026

From 7 valuation models · updated today

Share price −1.6% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$0.1950 – HK$0.5300 · fair‑value band HK$0.0800 – HK$0.1600 · the HK$0.3050 price screens above the HK$0.1600 fair value. As of Jul 2, 2026.

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Analysis

1231 (1231) currently trades at HK$0.3050, while our model-based Fair Value estimate is HK$0.1600 — implying the stock looks roughly 47.5% overvalued today. We read business quality at 61/100 (solid quality), in the Basic Materials 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).

Over the trailing twelve months, 1231 generated revenue of HK$194M at a net margin of -3.6%. Revenue declined 37.0% year over year. It earns a return on equity of -27.1%. The balance sheet holds a net cash position of HK$21.0M. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$194M

Revenue growth (YoY) -37.0%

Net margin -3.6%

Return on equity -27.1%

Free cash flow HK$3.4M FY2025

Operating margin -3.3%

More key figures

EPS growth (YoY) -50.1%

Net cash HK$21.0M FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

1231 reported revenue of HK$194M in FY2025 versus HK$1.9B in FY2021, a compound −43.2%/yr. Reported net income was −HK$7.0M in FY2025.

Revenue −43.2%/yr

FY21 HK$1.9B

FY22 HK$201M

FY23 HK$526M

FY24 HK$310M

FY25 HK$194M

Net income

FY21 −HK$11.3M

FY22 −HK$2.1M

FY23 HK$2.4M

FY24 −HK$287K

FY25 −HK$7.0M

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Similar stocks

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

Stock	Price	Fair Value	vs Fair Value
Tata Steel Limited TTST	$0.2140	$0.2500	+17%
Nucor Corporation NUE	$254.39	$83.10	-67%
ArcelorMittal S.A ARMT34	R$163.20	R$15.38	-91%
JSW Steel Limited JSWSTEEL	₹1,284	₹901.55	-30%
China Steel Corporation 2002A	38.45 TWD	11.94 TWD	-69%
Baoshan Iron & Steel Co 600019	¥5.74	¥7.78	+36%

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Frequently asked questions

Is 1231 (1231) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$0.1600 versus a price of HK$0.3050 — about −48% (overvalued). Model-based estimate, not financial advice.

What is the fair value of 1231?

Our model-based fair value for 1231 is HK$0.1600 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$0.3050.

What is the quality score of 1231?

1231 has a Quality Score of 61/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 1231 (1231)?

1231 reported trailing-twelve-month revenue of about HK$194M (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 1231?

The net profit margin of 1231 is about -3.6%, 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.