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China Apex Group Ltd (2011) fair value: what the stock is really worth

As of Sep 30, 2026: fair value of China Apex Group Ltd HK$0.67, price HK$1.18, upside -43.2%, quality 45 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Consumer Cyclical · HK · ISIN KYG2R11R1079

CA Thin data Sep 27, 2026

China Apex Group Ltd

2011 · HK

Weakest SetupStrongly overvalued and low quality.

!Fair value HK$0.6700 · Strongly overvalued (−43.2%)
!Quality 45/100
!Expensive Growth (revenue 5y +17.6 %/yr)
!Thin margins · 6.2% net margin (TTM)
!Low debt · negative free cash flow
!Mixed vs. peers (5/12)
!Narrow moat 44/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

HK$2.80 HK$0.6300 Fair Value HK$0.6700 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.

How to read this chart

60‑month range HK$0.6300 – HK$2.80 · fair‑value band HK$0.4700 – HK$0.8700 · the HK$1.18 price screens above the HK$0.6700 fair value. Dashed = 300-day average. As of Sep 27, 2026.

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Company profile

Gilston Group Limited, an investment holding company, designs, manufactures, and sells in finished zippers and other garment accessories in Mainland China and internationally. It operates through the Manufacture and Sales of Zippers; and property Investment and Provision of Property Management Services segments.

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Gilston Group Limited, an investment holding company, designs, manufactures, and sells in finished zippers and other garment accessories in Mainland China and internationally. It operates through the Manufacture and Sales of Zippers; and property Investment and Provision of Property Management Services segments. The company also provides property management services, as well as property leasing and subleasing services. It primarily serves the original equipment manufacturers of clothing brands. The company was formerly known as China Apex Group Limited and changed its name to Gilston Group Limited in March 2024. Gilston Group Limited was founded in 1992 and is headquartered in Central, Hong Kong.

Stock analysis

China Apex Group Ltd (2011) currently trades at HK$1.18, while our model-based Fair Value estimate is HK$0.6700, 43.2% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of HK$0.7000 per share, and 1 of the 14 models we run sit above the HK$1.18 price.

Bear case: the Economic Profit group reads lowest at HK$0.1800, and 13 of the 14 models stay below the price. Evidence for this calculation is low.

Scenario range: HK$0.4700 (bear) to HK$0.8700 (bull), the price of HK$1.18 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 45/100 (below-average quality), in the Consumer Cyclical sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

China Apex Group Ltd reported revenue of HK$383M in FY2025 versus HK$240M in FY2021, a compound +12.4%/yr. Reported net income was HK$23.8M in FY2025.

Key figures

Market cap HK$693M (≈ $88.3M) · P/E ratio 29.5 · P/S ratio 1.83 · EPS (TTM) HK$0.0400 · Net margin 6.2% · Return on equity 14.8% · Return on assets (EBIT) −0.3% · Operating margin 10.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 37% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at −18% fair-value upside, at −43%, 2011 screens richer than that median.

Fair Value models

Bear HK$0.4700 Fair Value HK$0.6700 Bull HK$0.8700
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (HK$0.0300 per share) are deliberately not added. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
EPV HK$0.1600 HK$0.1800 HK$0.2000 74
ROIC Compounder HK$0.1600 HK$0.1800 HK$0.2000 72
Residual Income HK$0.3100 HK$0.3300 HK$0.3800 71
All 14 models by family
Earnings-Based
Graham-Dodd HK$0.2800 HK$1.01 HK$1.37 64
Lynch FV HK$0.2400 HK$0.3400 HK$0.4500 61
PEG = 1.0 HK$0.2400 HK$0.3400 HK$0.4500 57
EPV HK$0.1600 HK$0.1800 HK$0.2000 74
Multiples
P/E Multiple HK$0.6800 HK$0.9100 HK$1.14 63
P/S Multiple HK$0.5300 HK$0.7000 HK$0.8800 58
P/B Multiple HK$0.5300 HK$0.7000 HK$0.8800 55
EV/EBIT HK$0.6100 HK$0.8100 HK$1.02 66
EV/EBITDA HK$1.11 HK$1.48 HK$1.86 67
EV/Revenue HK$0.4100 HK$0.5900 HK$0.7600 53
Asset-Based
NCAV (Graham) HK$0.1900 HK$0.2500 HK$0.3700 54
Economic Profit
Residual Income HK$0.3100 HK$0.3300 HK$0.3800 71
ROIC Compounder HK$0.1600 HK$0.1800 HK$0.2000 72
Growth Earnings
Growth-Adj P/E HK$0.4700 HK$0.6700 HK$0.8700 67

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Quality Score breakdown

Overall quality 45/100

Of which business quality 47 · Market factors (momentum, volatility) 34

Profitability 44
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 54
Earnings quality: real cash, not paper profit
Fin. Strength 51
Balance sheet, leverage, solvency risk
Investment 25
Disciplined investing over empire-building
Low Volatility 52
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 13
Distance to the 52-week high (market factor)
Net Issuance 55
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+14.9%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+21.1%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+17.6%
Start year 2020 (pandemic). Over 10 years: +9.2% a year
Revenue growth 18 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+8.3%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−18.7% (2020) → 6.8% (2025)

2011 screens overvalued: fair value 43% below the price. Compare with Ralph Lauren Corporation →

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Peer Groupⓘ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.Apparel Manufacturing · 216 stocks

Beats the industry median on 5/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 45 · Bottom 25%
Fair Value upside −43.2% · Below median
Profitability
Return on equity (TTM) 14.8% · Top 25%
Return on assets 5.4% · Above median
Net margin (TTM) 6.2% · Above median
Operating margin (TTM) 10.0% · Above median
Growth and dividend
Revenue growth 9.0% · Above median
Balance sheet
Debt / equity 0.43× · Highest 25%

Valuation Multiplesvs Apparel Manufacturing median · lower = cheaper

P/E (TTM) 29.5× · Pricier than median
P/B 3.22× · Priciest 25%
P/S (TTM) 1.81× · Priciest 25%
EV/EBITDA 8.6× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 33
FUTURE (revenue growth)45 · sector 2
PAST (return on equity)59 · sector 21
HEALTH (low debt)79 · sector 98
DIVIDEND (yield)0 · sector 56

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

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

Similar stocks

10 more Apparel Manufacturing stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Ralph Lauren Corporation RL $357.10 $225.10 −37%
Moncler S.p.A MONC €43.56 €50.69 +16%
LPP SA LPP 24,900 PLN 20,032 PLN −20%
Levi Strauss & Co LEVI $19.73 $16.26 −18%
Gildan Activewear Inc GIL $40.98 $45.08 +10%
Bosideng International Holdings 3998 HK$3.97 HK$7.44 +87%
Youngor Fashion Co 600177 ¥8.29 ¥5.59 −33%
V.F. Corporation VFC $14.42 $8.68 −40%
Page Industries Limited PAGEIND ₹37,695 ₹28,533 −24%
Hla Group 600398 ¥5.66 ¥11.97 +111%

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HK$0.6700 −43%Fair Value
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Cite: Fair Value Calculator (2026). "China Apex Group Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2011

Frequently asked questions

Is China Apex Group Ltd (2011) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$0.6700 versus a price of HK$1.18, about −43% upside (overvalued).
What is the fair value of 2011?
Our model-based fair value for China Apex Group Ltd is HK$0.6700 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$1.18.
What is the quality score of 2011?
China Apex Group Ltd has a Quality Score of 45/100. 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 price target for China Apex Group Ltd (2011)?
Our model-based price target is the fair value of HK$0.6700 (as of Sep 27, 2026) from 14 valuation models. Cautious scenario HK$0.4700, optimistic scenario HK$0.8700. It is a calculation from audited fundamentals, not an analyst target.
What is the China Apex Group Ltd stock forecast for 2026?
Our models put fair value at HK$0.6700, about −43% upside versus a price of HK$1.18 (overvalued). Cautious scenario HK$0.4700, optimistic scenario HK$0.8700. The calculation is refreshed regularly with new filings.
What is the revenue of China Apex Group Ltd (2011)?
China Apex Group Ltd reported trailing-twelve-month revenue of about HK$383M (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of China Apex Group Ltd (2011)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For China Apex Group Ltd it is HK$0.6700 per share (as of Sep 27, 2026), against a price of HK$1.18. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is China Apex Group Ltd stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 2011 trades above its calculated fair value: price HK$1.18, fair value HK$0.6700, a gap of about −43% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 2011?
No. The price is what the market pays today (HK$1.18); the fair value is what the company's own numbers justify (HK$0.6700). For China Apex Group Ltd the two are HK$0.5100 per share apart. That gap is exactly why we show both numbers side by side.
How much is China Apex Group Ltd worth?
The market values China Apex Group Ltd at about HK$693M (market capitalisation, as of Sep 27, 2026). Per share that is HK$1.18; our models calculate a fair value of HK$0.6700 per share.
What do the bullish and bearish scenarios say about 2011?
Our models span a range for China Apex Group Ltd: cautious scenario HK$0.4700, base HK$0.6700, optimistic HK$0.8700 per share (as of Sep 27, 2026, price HK$1.18). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2011?
China Apex Group Ltd trades at a price-to-earnings ratio of 29.5 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$0.6700 is built from several models across several years. Other multiples: P/B 3.2, P/S 1.8, EV/EBITDA 8.6.
How solid is the balance sheet of China Apex Group Ltd (2011)?
Balance-sheet figures for China Apex Group Ltd (as of Sep 27, 2026): return on equity 14.8%, debt of 0.43 per unit of equity. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is 2011 from its 52-week high?
China Apex Group Ltd trades at HK$1.18, about 37% below its 52-week high of HK$1.88 and 4% above the low of HK$1.13 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.6700 is for.
Which stocks are comparable to China Apex Group Ltd?
From the same area (Consumer Cyclical) we also value Ralph Lauren Corporation, Moncler S.p.A, LPP SA, Levi Strauss & Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is China Apex Group Ltd stock attractive at the current price?
The data as of Sep 27, 2026: price HK$1.18, calculated fair value HK$0.6700 (−43%), Quality Score 45/100, from 14 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 2011 calculated?
We run China Apex Group Ltd through 14 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of HK$0.6700, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.7 % above its aggregate fair value. China Apex Group Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of China Apex Group Ltd (2011)?
The closing price on Sep 30, 2026 was HK$1.18. Our model-based fair value is HK$0.6700, about −43% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with China Apex Group Ltd right now?
The price sits above even our optimistic bull case (HK$0.8700). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (45/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (HK$0.4700 to HK$0.8700) leaves room in how you read the outcome.
Where does the earnings growth of China Apex Group Ltd (2011) come from?
Earnings per share at China Apex Group Ltd grew +7.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.3 %, EBIT margin −1.1 %, tax rate −2.0 %, residual (interest, one-offs) +5.6 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of China Apex Group Ltd

How large is the market capitalisation of China Apex Group Ltd (2011)?
The market capitalisation of China Apex Group Ltd is HK$693M (≈ $88.3M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of China Apex Group Ltd (2011)?
The price-to-sales ratio of China Apex Group Ltd is 1.83 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of China Apex Group Ltd (2011)?
Earnings per share at China Apex Group Ltd are HK$0.0400 (price ÷ EPS = P/E 29.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of China Apex Group Ltd (2011)?
The net margin of China Apex Group Ltd is 6.2% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of China Apex Group Ltd (2011)?
The return on equity (ROE) of China Apex Group Ltd is 14.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of China Apex Group Ltd (2011)?
On an EBIT basis the return on assets of China Apex Group Ltd is −0.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of China Apex Group Ltd (2011)?
The operating margin of China Apex Group Ltd is 10.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at China Apex Group Ltd (2011)?
Revenue at China Apex Group Ltd is growing +9.0% versus a year earlier (3y avg +21.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at China Apex Group Ltd (2011)?
Earnings per share at China Apex Group Ltd are growing +143% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does China Apex Group Ltd (2011) generate?
The free cash flow of China Apex Group Ltd is −HK$965K (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does China Apex Group Ltd (2011) carry?
The net debt of China Apex Group Ltd is HK$39.2M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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