Tian Chang Group Holdings (2182) Fair Value & Analysis
Industrials · HK · Market cap HK$202M
Fair value as of: Aug 17, 2026
From 6 valuation models · updated today
Share price +1.4% over the past month.
A solid business, screening 67% undervalued on our models.
What matters now
- The price is below even our cautious bear case (HK$0.5100). The market is more pessimistic than our downside scenario.
- Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 17, 2026.
How to read this chart
60‑month range HK$0.2700 – HK$0.5138 · fair‑value band HK$0.5100 – HK$0.7400 · the HK$0.3600 price screens below the HK$0.6000 fair value. Dashed = 300-day average. As of Aug 17, 2026.
Analysis
Tian Chang Group Holdings (2182) currently trades at HK$0.3600, while our model-based Fair Value estimate is HK$0.6000, implying the stock looks roughly 66.7% undervalued today. The Quality Score stands at 59/100 (solid quality), in the Industrials 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, Tian Chang Group Holdings generated revenue of HK$519M at a net margin of -2.8%. Revenue declined 15.2% year over year. It earns a return on equity of -1.9%. The balance sheet holds a net cash position of HK$126M. Fundamentals as of Aug 17, 2026
Our scenario range runs from HK$0.5100 (bear case) to HK$0.7400 (bull case); at HK$0.3600, 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 18% below its 52-week high and 20% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at 11% fair-value upside, at 67%, 2182 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.
All 6 models by family
Widest divergence: Asset-Based (HK$0.8100) versus Dividend Discount (HK$0.1100). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 17, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 61 · Market factors (momentum, volatility) 39
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 Chang Group Holdings Ltd., an investment holding company, engages in manufacturing and sales of electronic cigarettes; medical consumable; and integrated plastic solutions in Hong Kong and in the People's Republic of China. It operates through three segments: Integrated Plastic Solutions, E-cigarettes Products, and Medical Consumable Products.
Full company description
Tian Chang Group Holdings Ltd., an investment holding company, engages in manufacturing and sales of electronic cigarettes; medical consumable; and integrated plastic solutions in Hong Kong and in the People's Republic of China. It operates through three segments: Integrated Plastic Solutions, E-cigarettes Products, and Medical Consumable Products. The Integrated Plastic Solutions segment designs, manufactures, and fabricates plastic injection moulds and plastic components, such as printer, copier, and air-conditioner parts; breathable office chair backs and accessories; automobile components, such as engine covers and dashboards; routers; camera and mobile power banks; and PET products. The E- cigarettes Products segment engages in the manufacture and sale of disposable and refillable e-cigarettes, battery rods, clearomisers, liquidpods, and heated tobacco devices as an original equipment manufacturer. The Medical Consumable Products segment engages in manufacturing and sales of medical consumable products. In addition, it also manufactures medica face masks and personal protective equipment products. The company was founded in 2000 and is headquartered in Kwun Tong, Hong Kong.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Tian Chang Group Holdings reported revenue of HK$519M in FY2025 versus HK$1.1B in FY2021, a compound −17.5%/yr. Reported net income was −HK$14.5M in FY2025.
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Peer Group
Conglomerates · 384 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 Conglomerates median · lower = cheaper
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.
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 Conglomerates stocks, each showing price versus our Fair Value estimate (as of Aug 17, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| ITOCHU Corporation ITOCHU19 | 7.20 THB | 14.40 THB | +100% |
| SK Inc 034730 | 553,000 KRW | 615,077 KRW | +11% |
| PT Astra International Tbk, ASII | 4,860 IDR | 9,720 IDR | +100% |
| Koç Holding KCHOL | 205.80 TRY | 182.26 TRY | -11% |
| SRF Limited SRF | ₹2,585 | ₹859.71 | -67% |
| Empresas Copec S.A COPEC | 6,030 CLP | 10,809 CLP | +79% |
| Posco International Corporation 047050 | 54,300 KRW | 71,119 KRW | +31% |
| Tube Investments of India Limited TIINDIA | ₹2,839 | ₹723.80 | -75% |
| Doosan Corporation 000155 | 436,000 KRW | 93,413 KRW | -79% |
| Thermax Limited THERMAX | ₹4,002 | ₹1,343 | -66% |
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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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