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Veson Holdings (1399) Fair Value & Analysis

Industrials · HK · Market cap HK$436M

VH Veson Holdings 1399 · HK
PriceHK$0.3500
Fair ValueHK$0.3900
Upside+11.4%
Quality51/100
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Weak Growth
Thin margins · 0.4% net margin
Low debt · negative free cash flow
Mixed vs. peers (6/13)
Narrow moat 19/100
Evidence: Medium Range HK$0.2900 – HK$0.4900 Share as image

Fair value as of: Aug 13, 2026

From 13 valuation models · updated 2 days ago

Share price −6.7% over the past month.

A solid business, screening 11% undervalued on our models.

What matters now

  • Our model range runs from HK$0.2900 (bear) to HK$0.4900 (bull), base HK$0.3900. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 51/100 (solid quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

HK$0.5600 HK$0.1650 Fair Value HK$0.3900 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$0.1650 – HK$0.5600 · fair‑value band HK$0.2900 – HK$0.4900 · the HK$0.3500 price screens below the HK$0.3900 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Veson Holdings (1399) currently trades at HK$0.3500, while our model-based Fair Value estimate is HK$0.3900, implying the stock looks roughly 11.4% undervalued today. The Quality Score stands at 51/100 (solid quality), in the Industrials 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.

Over the trailing twelve months, Veson Holdings generated revenue of HK$5.2B at a net margin of 0.4%. Revenue declined 2.0% year over year. It earns a return on equity of 1.4%. Net debt stands at HK$1.6B. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.2900 (bear case) to HK$0.4900 (bull case); at HK$0.3500, the current price sits within 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. The share trades about 42% below its 52-week high and 119% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -65% fair-value upside, at 11%, 1399 screens cheaper 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
Residual Income HK$0.6700 HK$0.6200 HK$0.4500 76
Gordon GGM HK$0.0600 HK$0.1000 HK$0.1400 70
Growth-Adj P/E HK$0.2600 HK$0.3700 HK$0.4800 68
All 13 models by family
DCF Models
Owner Earnings HK$0.6800 HK$0.8200 HK$1.02 31
Earnings-Based
Graham-Dodd HK$0.1300 HK$0.4300 HK$0.5800 54
Lynch FV HK$0.1000 HK$0.1400 HK$0.1800 50
PEG = 1.0 HK$0.1000 HK$0.1400 HK$0.1800 46
Dividend Discount
Gordon GGM HK$0.0600 HK$0.1000 HK$0.1400 70
DDM Multi-Stage HK$0.0600 HK$0.0900 HK$0.1100 61
Multiples
P/E Multiple HK$0.3100 HK$0.4200 HK$0.5200 63
P/S Multiple HK$0.2500 HK$0.3400 HK$0.4200 58
P/B Multiple HK$0.2500 HK$0.3400 HK$0.4200 55
EV/EBITDA HK$0.9100 HK$1.10 HK$1.28 54
Asset-Based
NCAV (Graham) HK$0.5000 HK$0.6800 HK$1.01 50
Economic Profit
Residual Income HK$0.6700 HK$0.6200 HK$0.4500 76
Growth Earnings
Growth-Adj P/E HK$0.2600 HK$0.3700 HK$0.4800 68

Widest divergence: DCF Models (HK$0.8200) versus Dividend Discount (HK$0.0900). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) HK$5.2B
Revenue growth (YoY) -2.0%
Net margin 0.4%
Return on equity 1.4%
Free cash flow −HK$26.5M FY2025
P/E ratio 20.0 as of Jul 2, 2026
More key figures
Operating margin 3.2%
EPS (TTM) HK$-0.0100
EPS growth (YoY) +250%
Net debt HK$1.6B FY2025

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

Quality Score breakdown

Overall quality 51/100

Of which business quality 49 · Market factors (momentum, volatility) 66

Profitability 33
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 40
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 26
Calm price path (market factor)
Momentum 90
Price trend over the last 3–12 months (market factor)
52W Momentum 72
Distance to the 52-week high (market factor)
Net Issuance 82
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

Veson Holdings Limited, an investment holding company, engages in the research, development, manufacture, and sale of lithium-ion battery modules and related accessories for mobile phones, notebooks, smartphones, wearable devices, tablets, and digital electronic appliances.

Full company description

Veson Holdings Limited, an investment holding company, engages in the research, development, manufacture, and sale of lithium-ion battery modules and related accessories for mobile phones, notebooks, smartphones, wearable devices, tablets, and digital electronic appliances. It operates through Original Design Manufacturing Business, Bare Battery Cell Business, and Others segments. The company offers lithium-ion bare battery cells, mobile phone batteries, tablet batteries, notebook batteries, and power banks; motive battery and related accessories, as well as chargers and network terminal products; and power management modules, smart wearable device batteries, and related accessories. It also provides corporate management services. Veson Holdings Limited operates primarily in the People's Republic of China. The company was formerly known as SCUD Group Limited and changed its name to Veson Holdings Limited in November 2020. Veson Holdings Limited was founded in 1997 and is headquartered in Fuzhou, the People's Republic of China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Veson Holdings reported revenue of HK$5.2B in FY2025 versus HK$7.1B in FY2021, a compound −7.3%/yr. Reported net income was HK$21.5M in FY2025, compounding −15.5%/yr from FY2021.

Growth Quality 14/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$5.2B
Latest YoY
−2.2%
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.
−6.3%
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.
−3.4%
Avg. growth/yr (22Y) 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.
+12.1%
Revenue −7.3%/yr
FY21 HK$7.1B
FY22 HK$6.4B
FY23 HK$6.1B
FY24 HK$5.3B
FY25 HK$5.2B
Net income −15.5%/yr
FY21 HK$42.2M
FY22 HK$24.0M
FY23 HK$20.1M
FY24 −HK$12.0M
FY25 HK$21.5M

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Cite: Fair Value Calculator (2026). "Veson Holdings Fair Value". https://www.fairvalue-calculator.com/stock/1399

Peer Group

Electrical Equipment & Parts · 524 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 51 · Below median
Fair Value upside +11% · Top 25%
Return on equity (TTM) 1% · Below median
Return on assets 1% · Below median
Net margin (TTM) 0% · Bottom 25%
Operating margin (TTM) 3% · Below median
Revenue growth -2% · Below median
Dividend yield (TTM) 1.9% · Above median
Debt / equity 0.39× · Higher than 75% of peers

Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper

P/E (TTM) 20.0× · Cheaper than median
P/B 0.40× · Cheaper than 75% of peers
P/S (TTM) 0.08× · Cheaper than 75% of peers
PEG 0.66× · Cheaper than 75% of peers

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 49 · sector 0
FUTURE 0 · sector 57
PAST 6 · sector 27
HEALTH 81 · sector 97
DIVIDEND 37 · sector 23

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 Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Contemporary Amperex Technology Co 3750 HK$652.50 HK$394.19 -40%
Delta Electronics (Thailand) Public Company DELTA 269.00 THB 40.28 THB -85%
LG Energy Solution, Ltd 373220 365,500 KRW 201,455 KRW -45%
WEG S.A WEGE3 14,900 ARS 4,338 ARS -71%
Sungrow Power Supply Co 300274 ¥117.53 ¥123.83 +5%
HD Hyundai Electric Co 267260 782,000 KRW 371,133 KRW -53%
LS ELECTRIC Co 010120 208,500 KRW 29,594 KRW -86%
Hyosung Heavy Industries Corporation 298040 2,892,000 KRW 1,013,099 KRW -65%
Hitachi Energy India Limited POWERINDIA ₹35,800 ₹6,106 -83%
Polycab India Limited POLYCAB ₹9,289 ₹3,218 -65%

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Frequently asked questions

Is Veson Holdings (1399) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.3900 versus a price of HK$0.3500, about +11% (undervalued).
What is the fair value of 1399?
Our model-based fair value for Veson Holdings is HK$0.3900 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.3500.
What is the quality score of 1399?
Veson Holdings has a Quality Score of 51/100. 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 Veson Holdings (1399)?
Veson Holdings reported trailing-twelve-month revenue of about HK$5.2B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 1399?
The net profit margin of Veson Holdings is about 0.4%, meaning it keeps roughly 0.4% of revenue as net income. 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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