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Q P Group Holdings Ltd (1412) Fair Value & Analysis

Basic Materials · HK · Market cap HK$559M

QP Q P Group Holdings Ltd 1412 · HK
PriceHK$1.06
Fair ValueHK$1.70
Upside+60.0%
Quality52/100
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Weak Growth
Thin margins · 5.3% net margin
Low debt · negative free cash flow
6.67% dividend yield
Ranks above peers (11/13)
Narrow moat 36/100
Evidence: Medium Range HK$1.47 – HK$2.20 Share as image

Fair value as of: Aug 13, 2026

From 14 valuation models · updated 3 days ago

Fair value updated Aug 13, 2026, revised from HK$1.45 to HK$1.70 (+17.0%) since Aug 5, 2026.

A solid business, screening 60% undervalued on our models.

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What matters now

  • The price is below even our cautious bear case (HK$1.47). The market is more pessimistic than our downside scenario.
  • Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

HK$1.65 HK$0.4436 Fair Value HK$1.70 Jan 2020 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$0.4436 – HK$1.65 · fair‑value band HK$1.47 – HK$2.20 · the HK$1.06 price screens below the HK$1.70 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Q P Group Holdings Ltd (1412) currently trades at HK$1.06, while our model-based Fair Value estimate is HK$1.70, implying the stock looks roughly 60.0% undervalued today. The Quality Score stands at 52/100 (solid quality), in the Basic Materials 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, Q P Group Holdings Ltd generated revenue of HK$1.1B at a net margin of 5.3%. Revenue declined 11.8% year over year. It earns a return on equity of 6.5%. The balance sheet holds a net cash position of HK$46.9M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$1.47 (bear case) to HK$2.20 (bull case); at HK$1.06, the current price sits below 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 36% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at 0% fair-value upside, at 60%, 1412 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$1.29 HK$1.33 HK$1.32 76
ROIC Compounder HK$1.04 HK$1.15 HK$1.25 72
Gordon GGM HK$1.01 HK$1.12 HK$1.25 70
All 14 models by family
Earnings-Based
Graham-Dodd HK$0.7600 HK$1.10 HK$1.30 54
EPV HK$1.04 HK$1.15 HK$1.25 59
Dividend Discount
Gordon GGM HK$1.01 HK$1.12 HK$1.25 70
DDM Multi-Stage HK$1.01 HK$1.24 HK$1.52 61
Multiples
P/E Multiple HK$1.42 HK$1.90 HK$2.37 63
P/S Multiple HK$1.42 HK$1.90 HK$2.37 58
P/B Multiple HK$1.42 HK$1.90 HK$2.37 55
EV/EBIT HK$1.52 HK$1.95 HK$2.39 53
EV/EBITDA HK$2.11 HK$2.74 HK$3.37 54
EV/Revenue HK$1.34 HK$1.83 HK$2.31 43
Asset-Based
NCAV (Graham) HK$0.8400 HK$1.13 HK$1.69 50
Economic Profit
Residual Income HK$1.29 HK$1.33 HK$1.32 76
ROIC Compounder HK$1.04 HK$1.15 HK$1.25 72
Growth Earnings
Growth-Adj P/E HK$1.01 HK$1.45 HK$1.88 68

Widest divergence: Multiples (HK$1.90) versus Earnings-Based (HK$1.10). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) HK$1.1B
Revenue growth (YoY) -11.8%
Net margin 5.3%
Return on equity 6.5%
Free cash flow −HK$66.7M FY2025
P/E ratio 9.5 as of Jul 2, 2026
More key figures
Operating margin 5.2%
EPS (TTM) HK$0.0700
Dividend yield 6.7%
EPS growth (YoY) -72.4%
Net cash HK$46.9M FY2025

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

Quality Score breakdown

Overall quality 52/100

Of which business quality 53 · Market factors (momentum, volatility) 37

Profitability 48
Margins and returns on capital today
Quality Growth 10
Are margins and returns improving?
Cashflow 23
Earnings quality: real cash, not paper profit
Fin. Strength 86
Balance sheet, leverage, solvency risk
Investment 76
Disciplined investing over empire-building
Low Volatility 88
Calm price path (market factor)
Momentum 19
Price trend over the last 3–12 months (market factor)
52W Momentum 10
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

Q P Group Holdings Limited, an investment holding company, engages in the manufacturing and trading of paper products in the People's Republic of China, the United States, Europe, and internationally. It operates in two segments, the Web Sales and Original Equipment Manufacturer (OEM) Sales.

Full company description

Q P Group Holdings Limited, an investment holding company, engages in the manufacturing and trading of paper products in the People's Republic of China, the United States, Europe, and internationally. It operates in two segments, the Web Sales and Original Equipment Manufacturer (OEM) Sales. The company offers OEM solutions, such as product development, material sourcing, printing, assembly, quality assurance, and logistics; board and card games, puzzles, trading cards, greeting cards, educational items, and packaging; and digitalized production for small orders. It also provides laboratory testing services, website products, design services, and cybersecurity services and solutions. The company was founded in 1985 and is headquartered in Sha Tin, Hong Kong. Q P Group Holdings Limited operates as a subsidiary of Good Elite Holdings Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Q P Group Holdings Ltd reported revenue of HK$1.1B in FY2025 versus HK$1.4B in FY2021, a compound −5.1%/yr. Reported net income was HK$59.4M in FY2025, compounding −16.0%/yr from FY2021.

Growth Quality 14/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$1.1B
Latest YoY
−7.1%
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.
−4.1%
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.
−1.8%
Avg. growth/yr (9Y) 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.
+2.7%
Revenue −5.1%/yr
FY21 HK$1.4B
FY22 HK$1.3B
FY23 HK$1.0B
FY24 HK$1.2B
FY25 HK$1.1B
Net income −16.0%/yr
FY21 HK$119M
FY22 HK$127M
FY23 HK$80.1M
FY24 HK$129M
FY25 HK$59.4M

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Cite: Fair Value Calculator (2026). "Q P Group Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/1412

Peer Group

Paper & Paper Products · 116 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 52 · Above median
Fair Value upside +60% · Top 25%
Return on equity (TTM) 7% · Top 25%
Return on assets 4% · Top 25%
Net margin (TTM) 5% · Above median
Operating margin (TTM) 5% · Above median
Revenue growth -12% · Bottom 25%
Dividend yield (TTM) 6.7% · Top 25%

Valuation Multiples vs Paper & Paper Products median · lower = cheaper

P/E (TTM) 9.5× · Cheaper than 75% of peers
P/B 0.62× · Cheaper than median
P/S (TTM) 0.50× · Pricier than median
EV/EBITDA 3.2× · 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 100 · sector 27
FUTURE 0 · sector 5
PAST 26 · sector 12
HEALTH 100 · sector 91
DIVIDEND 100 · sector 54

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

Stock Price Fair Value vs Fair Value
Klabin S.A KLBN11 R$17.55 R$3.80 -78%
UPM-Kymmene Oyj UPM €23.18 €14.21 -39%
Suzano S.A SUZ $8.02 $23.77 +196%
Svenska Cellulosa Aktiebolaget SCA (publ) SCAB kr 109.40 kr 49.40 -55%
Shandong Sunpaper Co 002078 ¥13.94 ¥17.29 +24%
Holmen AB HOLMB kr 323.20 kr 217.72 -33%
Nine Dragons Paper (Holdings) Limited 2689 HK$8.21 HK$8.74 +6%
Empresas CMPC S.A CMPC 1,000 CLP 1,253 CLP +25%
Xianhe Co 603733 ¥21.11 ¥21.06 -0%
Billerud AB BILL kr 77.60 kr 48.60 -37%

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Frequently asked questions

Is Q P Group Holdings Ltd (1412) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$1.70 versus a price of HK$1.06, about +60% (undervalued).
What is the fair value of 1412?
Our model-based fair value for Q P Group Holdings Ltd is HK$1.70 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$1.06.
What is the quality score of 1412?
Q P Group Holdings Ltd has a Quality Score of 52/100. 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 Q P Group Holdings Ltd (1412)?
Q P Group Holdings Ltd reported trailing-twelve-month revenue of about HK$1.1B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 1412?
The net profit margin of Q P Group Holdings Ltd is about 5.3%, meaning it keeps roughly 5.3% of revenue as net income. Based on the latest reported figures.
Does Q P Group Holdings Ltd pay a dividend?
Q P Group Holdings Ltd currently shows a dividend yield of about 6.67% relative to its recent price (as of Aug 13, 2026).

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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