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Tsann Kuen (China) Enterprise Co (200512) Fair Value & Analysis

Consumer Cyclical · CN · Market cap HK$465M

TK Tsann Kuen (China) Enterprise Co 200512 · SHE
PriceHK$2.27
Fair ValueHK$2.79
Upside+22.9%
Quality44/100
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Weak Growth
Thin margins · 0.0% net margin
Low debt · negative free cash flow
Trails peers (4/12)
Narrow moat 22/100
Evidence: Medium Range HK$2.10 – HK$3.49 Share as image

Fair value as of: Jul 7, 2026

From 14 valuation models · updated 34 days ago

Fair value updated Jul 7, 2026, revised from HK$3.21 to HK$2.79 (−13.1%) since Jun 24, 2026. Share price −0.9% over the past month.

Below-average quality, screening 23% undervalued on our models.

What matters now

  • Our model range runs from HK$2.10 (bear) to HK$3.49 (bull), base HK$2.79. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 44/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

HK$4.29 HK$1.67 Fair Value HK$2.79 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 7, 2026.

How to read this chart

60‑month range HK$1.67 – HK$4.29 · fair‑value band HK$2.10 – HK$3.49 · the HK$2.27 price screens below the HK$2.79 fair value. Dashed = 300-day average. As of Jul 7, 2026.

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Analysis

Tsann Kuen (China) Enterprise Co (200512) currently trades at HK$2.27, while our model-based Fair Value estimate is HK$2.79, implying the stock looks roughly 22.9% undervalued today. The Quality Score stands at 44/100 (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: medium), always confirm before acting.

Trailing-twelve-month revenue stands at HK$1.3B. Revenue declined 18.8% year over year. It earns a return on equity of -0.2%. The balance sheet holds a net cash position of HK$59.3M. Fundamentals as of Jul 7, 2026

Our scenario range runs from HK$2.10 (bear case) to HK$3.49 (bull case); at HK$2.27, 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 36% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 16% fair-value upside, at 23%, 200512 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$3.95 HK$3.75 HK$2.80 76
ROIC Compounder HK$3.23 HK$3.39 HK$3.51 72
Gordon GGM HK$1.60 HK$1.72 HK$1.91 70
All 14 models by family
Earnings-Based
Graham-Dodd HK$0.8600 HK$1.06 HK$1.19 54
EPV HK$3.23 HK$3.39 HK$3.51 59
Dividend Discount
Gordon GGM HK$1.60 HK$1.72 HK$1.91 70
DDM Multi-Stage HK$1.60 HK$1.90 HK$2.29 61
Multiples
P/E Multiple HK$2.10 HK$2.79 HK$3.49 63
P/S Multiple HK$1.62 HK$2.16 HK$2.70 58
P/B Multiple HK$1.62 HK$2.16 HK$2.70 55
EV/EBIT HK$4.21 HK$4.91 HK$5.61 53
EV/EBITDA HK$5.91 HK$7.17 HK$8.43 54
EV/Revenue HK$3.53 HK$4.13 HK$4.74 43
Asset-Based
NCAV (Graham) HK$2.94 HK$3.94 HK$5.88 50
Economic Profit
Residual Income HK$3.95 HK$3.75 HK$2.80 76
ROIC Compounder HK$3.23 HK$3.39 HK$3.51 72
Growth Earnings
Growth-Adj P/E HK$1.48 HK$2.11 HK$2.74 68

Widest divergence: Asset-Based (HK$3.94) versus Earnings-Based (HK$1.06). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) HK$1.3B
Revenue growth (YoY) -18.8%
Net margin 0.0%
Return on equity -0.2%
Free cash flow −HK$98.3M FY2025
P/E ratio 251.0
More key figures
Operating margin -5.6%
EPS (TTM) HK$0.0100
EPS growth (YoY) -98.6%
Net cash HK$59.3M FY2025

Figures from reported company fundamentals · as of Jul 7, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100

Of which business quality 42 · Market factors (momentum, volatility) 31

Profitability 22
Margins and returns on capital today
Quality Growth 20
Are margins and returns improving?
Cashflow 6
Earnings quality: real cash, not paper profit
Fin. Strength 53
Balance sheet, leverage, solvency risk
Investment 90
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 13
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 92
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

Tsann Kuen (China) Enterprise Co., Ltd., together with its subsidiaries, develops, produces, manufactures, and sells small home appliances of gourmet cooking, home helper, tea, and coffee in Australia, Africa, the United States, Europe, and Asia. It designs and manufactures molds for related products; and provides after-sales services.

Full company description

Tsann Kuen (China) Enterprise Co., Ltd., together with its subsidiaries, develops, produces, manufactures, and sells small home appliances of gourmet cooking, home helper, tea, and coffee in Australia, Africa, the United States, Europe, and Asia. It designs and manufactures molds for related products; and provides after-sales services. The company also provides coffee academy services and recipes; tea makers; espresso coffee machines, drip coffee makers, electric kettles, and conical burr coffee grinders; professional steak grills, snack makers, and rotary waffle makers; blenders; and circulators and steam irons. In addition, it offers real estate development, property, and trading services. The company was formerly known as TsannKuen China (Xiamen) Ltd. and changed its name to Tsann Kuen (China) Enterprise Co., Ltd. in June 1993. Tsann Kuen (China) Enterprise Co., Ltd. was founded in 1988 and is based in Zhangzhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Tsann Kuen (China) Enterprise Co reported revenue of HK$1.3B in FY2025 versus HK$2.3B in FY2021, a compound −13.0%/yr. Reported net income was HK$23.5M in FY2025, compounding −33.8%/yr from FY2021.

Growth Quality 14/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$1.3B
Latest YoY
−20.9%
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.
−5.3%
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.
−8.9%
Avg. growth/yr (31Y) 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.
+2.8%
Revenue −13.0%/yr
FY21 HK$2.3B
FY22 HK$1.6B
FY23 HK$1.5B
FY24 HK$1.7B
FY25 HK$1.3B
Net income −33.8%/yr
FY21 HK$122M
FY22 HK$94.3M
FY23 HK$87.9M
FY24 HK$72.8M
FY25 HK$23.5M
Character of growth · EPS growth decomposed (2014-2025) +3.5 % p.a.
Revenue per share −2.7 pp

of which total revenue −2.7 pp · buybacks/dilution +0.0 pp

EBIT margin +7.3 pp
Tax rate +0.6 pp
Residual (interest, one-offs) −1.6 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Tsann Kuen (China) Enterprise Co Fair Value". https://www.fairvalue-calculator.com/stock/200512

Peer Group

Furnishings, Fixtures & Appliances · 311 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 44 · Below median
Fair Value upside +23% · Above median
Return on assets -0% · Bottom 25%
Net margin (TTM) 0% · Below median
Operating margin (TTM) -6% · Bottom 25%
Revenue growth -19% · Bottom 25%
Debt / equity 0.06× · Higher than median

Valuation Multiples vs Furnishings, Fixtures & Appliances median · lower = cheaper

P/E (TTM) 251.0× · Pricier than 75% of peers
P/B 0.05× · Cheaper than 75% of peers
P/S (TTM) 0.05× · Cheaper than 75% of peers
PEG 0.96× · Cheaper than median

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 64 · sector 22
FUTURE 0 · sector 0
PAST 0 · sector 19
HEALTH 97 · sector 97
DIVIDEND 0 · sector 55

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 Furnishings, Fixtures & Appliances stocks, each showing price versus our Fair Value estimate (as of Jul 7, 2026).

Stock Price Fair Value vs Fair Value
Midea Group 000333 ¥82.71 ¥107.22 +30%
Gree Electric Appliances, Inc 000651 ¥38.25 ¥88.02 +130%
Haier Smart Home Co 600690 ¥21.46 ¥36.04 +68%
King Slide Works Co 2059 8,655 TWD 1,917 TWD -78%
Guangdong Songfa Ceramics Co 603268 ¥155.59 ¥38.95 -75%
SharkNinja, Inc SN $154.53 $89.07 -42%
Hisense Home Appliances Group 000921 ¥26.33 ¥48.03 +82%
Zhejiang Supor Co 002032 ¥43.85 ¥44.84 +2%
COWAY Co 021240 96,700 KRW 112,530 KRW +16%
Ecovacs Robotics Co 603486 ¥50.13 ¥54.11 +8%

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Frequently asked questions

Is Tsann Kuen (China) Enterprise Co (200512) overvalued or undervalued?
As of Jul 7, 2026, our model estimates a fair value of HK$2.79 versus a price of HK$2.27, about +23% (undervalued).
What is the fair value of 200512?
Our model-based fair value for Tsann Kuen (China) Enterprise Co is HK$2.79 (as of Jul 7, 2026), built from audited fundamentals. The current price is HK$2.27.
What is the quality score of 200512?
Tsann Kuen (China) Enterprise Co has a Quality Score of 44/100. 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 Tsann Kuen (China) Enterprise Co (200512)?
Tsann Kuen (China) Enterprise Co reported trailing-twelve-month revenue of about HK$1.3B (latest available figure, as of Jul 7, 2026).
What is the net profit margin of 200512?
The net profit margin of Tsann Kuen (China) Enterprise Co is about 0.0%, meaning it keeps roughly 0.0% 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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