Yue Kan Holdings Ltd (2110) Fair Value & Analysis
Industrials · HK · Market cap HK$41.5M
Fair value as of: Aug 13, 2026
From 1 valuation models · updated 3 days ago
Share price −9.9% over the past month.
Below-average quality, and screening another 38% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (HK$0.0613). The favourable scenario is already priced in.
- Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Price vs Fair Value (5 years)
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$0.0740 – HK$2.30 · fair‑value band HK$0.0404 – HK$0.0613 · the HK$0.0820 price screens above the HK$0.0510 fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Yue Kan Holdings Ltd (2110) currently trades at HK$0.0820, while our model-based Fair Value estimate is HK$0.0510, implying the stock looks roughly 37.8% overvalued today. The Quality Score stands at 40/100 (below-average quality), in the Industrials 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, Yue Kan Holdings Ltd generated revenue of HK$154M at a net margin of -27.5%. Revenue declined 45.2% year over year. It earns a return on equity of -89.2%. The balance sheet holds a net cash position of HK$22.8M. Fundamentals as of Aug 13, 2026
Our scenario range runs from HK$0.0404 (bear case) to HK$0.0613 (bull case); at HK$0.0820, the current price sits above 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 78% below its 52-week high and 14% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -34% fair-value upside, at -38%, 2110 screens richer 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.
All 1 models by family
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 43 · Market factors (momentum, volatility) 23
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
Tian Cheng Holdings Limited, an investment holding company, operates as a marine construction works subcontractor in Hong Kong and the People's Republic of China. It operates through Marine Construction Works, Other Civil Engineering Works, Vessel Chartering Services, and Health and Wellness Services segments.
Full company description
Tian Cheng Holdings Limited, an investment holding company, operates as a marine construction works subcontractor in Hong Kong and the People's Republic of China. It operates through Marine Construction Works, Other Civil Engineering Works, Vessel Chartering Services, and Health and Wellness Services segments. The Marine Construction Works segment undertakes reclamation, submarine pipeline, and sediment treatment works, as well as regulation and deposition of sand blanket works. The Other Civil Engineering Works segment includes foundation works, site formation works, and roads and drainage works. The Vessel Chartering Services segment provides chartering services, such as the hiring of vessels and crews. Its Health and Wellness Services segment offers consulting services for arranging healthcare consultation from specialists, as well as organizes health and wellness seminars; and engages in the sales of related products. The company was formerly known as Yue Kan Holdings Limited and changed its name to Tian Cheng Holdings Limited in February 2023. Tian Cheng Holdings Limited was founded in 2010 and is headquartered in Tsim Sha Tsui, Hong Kong.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Yue Kan Holdings Ltd reported revenue of HK$203M in FY2025 versus HK$346M in FY2021, a compound −12.5%/yr. Reported net income was −HK$34.5M in FY2025.
2110 screens 38% overvalued. Compare with Larsen & Toubro Limited →
Peer Group
Engineering & Construction · 837 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.
Valuation Multiples vs Engineering & Construction median · lower = cheaper
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Larsen & Toubro Limited LT | ₹4,020 | ₹1,994 | -50% |
| Samsung C&T Corporation 028260 | 357,500 KRW | 261,411 KRW | -27% |
| Hyundai Engineering & Construction Co 000720 | 113,700 KRW | 61,453 KRW | -46% |
| Samsung E&A Co 028050 | 49,300 KRW | 43,624 KRW | -12% |
| Rail Vikas Nigam Limited RVNL | ₹230.00 | ₹48.92 | -79% |
| Daewoo Engineering & Construction Co 047040 | 18,400 KRW | 6,507 KRW | -65% |
| KEPCO Engineering & Construction Company 052690 | 99,800 KRW | 19,346 KRW | -81% |
| GS Engineering & Construction Corporation 006360 | 35,200 KRW | 23,135 KRW | -34% |
| DL E&C Co 375500 | 73,500 KRW | 148,433 KRW | +102% |
| KEPCO Plant Service & Engineering Co 051600 | 46,350 KRW | 43,924 KRW | -5% |
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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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