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2228 (2228) Fair Value & Analysis

Healthcare · Market cap HK$32.9B

2 2228 2228 · HK
PriceHK$7.48
Fair ValueHK$1.03
Upside-86.2%
Quality39/100
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Evidence: Medium Range HK$0.7200 – HK$1.16

Fair value as of: Jul 2, 2026

From 12 valuation models · updated today

Share price −6.8% over the past month.

Price vs Fair Value (12 months)

HK$14.87 HK$5.35 Fair Value HK$1.03 Jun 2025 Jul 2026

12‑month range HK$5.35 – HK$14.87 · fair‑value band HK$0.7200 – HK$1.16 · the HK$7.48 price screens above the HK$1.03 fair value. As of Jul 2, 2026.

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Analysis

2228 (2228) currently trades at HK$7.48, while our model-based Fair Value estimate is HK$1.03 — implying the stock looks roughly 86.2% overvalued today. We read business quality at 39/100 (below-average quality), in the Healthcare 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: medium).

Over the trailing twelve months, 2228 generated revenue of HK$803M at a net margin of 15.4%. Revenue grew 74.3% year over year. It earns a return on equity of 2.0%. The balance sheet holds a net cash position of HK$2.1B. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$803M
Revenue growth (YoY) +74.3%
Net margin 15.4%
Return on equity 2.0%
Free cash flow −HK$200M FY2025
P/E ratio 255.0
More key figures
Operating margin -160%
EPS (TTM) HK$0.0200
Net cash HK$2.1B FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

2228 reported revenue of HK$782M in FY2025 versus HK$62.8M in FY2021, a compound +87.8%/yr. Reported net income was HK$121M in FY2025.

Revenue +87.8%/yr
FY21 HK$62.8M
FY22 HK$133M
FY23 HK$174M
FY24 HK$266M
FY25 HK$782M
Net income
FY21 −HK$2.1B
FY22 −HK$1.4B
FY23 −HK$1.9B
FY24 −HK$1.5B
FY25 HK$121M

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Recent news

External third-party headlines (Yahoo Finance, Reuters and others) — not an editorial selection, not financial advice.

Similar stocks

6 more Health Information Services stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).

Stock Price Fair Value vs Fair Value
Veeva Systems Inc VEEV $153.16 $183.66 +20%
Pro Medicus Limited PME A$165.64 A$28.02 -83%
BrightSpring Health Services, Inc BTSG $60.59 $23.87 -61%
Tempus AI, Inc TEM $48.61 $12.67 -74%
HealthEquity, Inc HQY $86.03 $54.47 -37%
M3, Inc MTHRY $5.21 $7.47 +43%

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Frequently asked questions

Is 2228 (2228) undervalued?
As of Jul 2, 2026, our model estimates a fair value of HK$1.03 versus a price of HK$7.48 — about −86% (overvalued). Model-based estimate, not financial advice.
What is the fair value of 2228?
Our model-based fair value for 2228 is HK$1.03 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$7.48.
What is the quality score of 2228?
2228 has a Quality Score of 39/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of 2228 (2228)?
2228 reported trailing-twelve-month revenue of about HK$803M (latest available figure, as of Jul 2, 2026).
What is the net profit margin of 2228?
The net profit margin of 2228 is about 15.4%, meaning it keeps roughly 15.4% 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.