2178 (2178) Fair Value & Analysis

Energy · Market cap HK$280M

2 2178 2178 · HK

PriceHK$0.1630

Fair ValueHK$0.1700

Upside+4.3%

Quality63/100

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Evidence: High Range HK$0.1400 – HK$0.2100

Fair value as of: Jul 2, 2026

From 24 valuation models · updated today

Share price −22.4% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$0.0480 – HK$0.3800 · fair‑value band HK$0.1400 – HK$0.2100 · the HK$0.1630 price screens below the HK$0.1700 fair value. As of Jul 2, 2026.

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Analysis

2178 (2178) currently trades at HK$0.1630, while our model-based Fair Value estimate is HK$0.1700 — implying the stock looks roughly 4.3% undervalued today. We read business quality at 63/100 (solid quality), in the Energy 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: high) — always confirm before acting.

Over the trailing twelve months, 2178 generated revenue of HK$274M at a net margin of 8.5%. Revenue grew 26.3% year over year. It earns a return on equity of 11.8%. Net debt stands at HK$66.5M. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$274M

Revenue growth (YoY) +26.3%

Net margin 8.5%

Return on equity 11.8%

Free cash flow HK$31.7M FY2025

P/E ratio 16.2

More key figures

Operating margin 14.5%

EPS (TTM) HK$-0.0100

Net debt HK$66.5M FY2025

Figures from reported company fundamentals (EODHD) · as of Jul 2, 2026. TTM = trailing twelve months.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

2178 reported revenue of HK$274M in FY2025 versus HK$164M in FY2021, a compound +13.7%/yr. Reported net income was HK$23.2M in FY2025.

Revenue +13.7%/yr

FY21 HK$164M

FY22 HK$314M

FY23 HK$315M

FY24 HK$292M

FY25 HK$274M

Net income

FY21 −HK$105M

FY22 −HK$28.6M

FY23 −HK$73.5M

FY24 −HK$17.8M

FY25 HK$23.2M

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Frequently asked questions

Is 2178 (2178) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$0.1700 versus a price of HK$0.1630 — about +4% (undervalued). Model-based estimate, not financial advice.

What is the fair value of 2178?

Our model-based fair value for 2178 is HK$0.1700 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$0.1630.

What is the quality score of 2178?

2178 has a Quality Score of 63/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 2178 (2178)?

2178 reported trailing-twelve-month revenue of about HK$274M (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 2178?

The net profit margin of 2178 is about 8.5%, meaning it keeps roughly 8.5% 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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.