2188 (2188) Fair Value & Analysis

Industrials · Market cap HK$192M

2 2188 2188 · HK

PriceHK$0.1290

Fair ValueHK$0.0700

Upside-45.7%

Quality38/100

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Evidence: Low Range HK$0.0400 – HK$0.1000

Fair value as of: Jul 2, 2026

From 3 valuation models · updated today

Share price +1.6% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$0.1170 – HK$0.2900 · fair‑value band HK$0.0400 – HK$0.1000 · the HK$0.1290 price screens above the HK$0.0700 fair value. As of Jul 2, 2026.

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Analysis

2188 (2188) currently trades at HK$0.1290, while our model-based Fair Value estimate is HK$0.0700 — implying the stock looks roughly 45.7% overvalued today. We read business quality at 38/100 (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, 2188 generated revenue of HK$410M at a net margin of -8.0%. Revenue grew 11.9% year over year. It earns a return on equity of -6.0%. Net debt stands at HK$127M. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$410M

Revenue growth (YoY) +11.9%

Net margin -8.0%

Return on equity -6.0%

Free cash flow −HK$40.5M FY2025

Operating margin 5.1%

More key figures

EPS (TTM) HK$-0.0200

EPS growth (YoY) -5.2%

Net debt HK$127M FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

2188 reported revenue of HK$410M in FY2025 versus HK$337M in FY2021, a compound +5.0%/yr. Reported net income was −HK$32.8M in FY2025.

Revenue +5.0%/yr

FY21 HK$337M

FY22 HK$345M

FY23 HK$374M

FY24 HK$392M

FY25 HK$410M

Net income

FY21 HK$18.6M

FY22 −HK$18.2M

FY23 −HK$44.0M

FY24 −HK$45.4M

FY25 −HK$32.8M

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Similar stocks

6 more Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).

Stock	Price	Fair Value	vs Fair Value
Contemporary Amperex Technology Co CYATY	$23.70	$14.62	-38%
3750 3750	HK$681.00	HK$378.25	-44%
ABB Ltd ABLZF	$110.87	$35.93	-68%
DELTA DELTA	364.00 THB	39.71 THB	-89%
Vertiv Holdings VRT	$357.96	$89.54	-75%
Mitsubishi Electric Corporation MIELY	$77.64	$32.46	-58%

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Frequently asked questions

Is 2188 (2188) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$0.0700 versus a price of HK$0.1290 — about −46% (overvalued). Model-based estimate, not financial advice.

What is the fair value of 2188?

Our model-based fair value for 2188 is HK$0.0700 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$0.1290.

What is the quality score of 2188?

2188 has a Quality Score of 38/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 2188 (2188)?

2188 reported trailing-twelve-month revenue of about HK$410M (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 2188?

The net profit margin of 2188 is about -8.0%, meaning it is currently running at a net loss. 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.