2302 (2302) Fair Value & Analysis

Energy · Market cap HK$2.0B

2 2302 2302 · HK

PriceHK$4.19

Fair ValueHK$7.81

Upside+86.4%

Quality56/100

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Evidence: High Range HK$6.19 – HK$17.31

Fair value as of: Jul 2, 2026

From 26 valuation models · updated today

Share price −8.7% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$3.09 – HK$8.55 · fair‑value band HK$6.19 – HK$17.31 · the HK$4.19 price screens below the HK$7.81 fair value. As of Jul 2, 2026.

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Analysis

2302 (2302) currently trades at HK$4.19, while our model-based Fair Value estimate is HK$7.81 — implying the stock looks roughly 86.4% undervalued today. We read business quality at 56/100 (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, 2302 generated revenue of HK$2.5B at a net margin of 7.7%. Revenue grew 3.4% year over year. It earns a return on equity of 25.0%. The balance sheet holds a net cash position of HK$904M. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$2.5B

Revenue growth (YoY) +3.4%

Net margin 7.7%

Return on equity 25.0%

Free cash flow HK$299M FY2025

P/E ratio 10.7

More key figures

Operating margin 11.6%

EPS (TTM) HK$0.0200

EPS growth (YoY) -10.2%

Net cash HK$904M FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

2302 reported revenue of HK$2.5B in FY2025 versus HK$281M in FY2021, a compound +72.6%/yr. Reported net income was HK$192M in FY2025, compounding +319.4%/yr from FY2021.

Revenue +72.6%/yr

FY21 HK$281M

FY22 HK$906M

FY23 HK$581M

FY24 HK$1.8B

FY25 HK$2.5B

Net income +319.4%/yr

FY21 HK$622K

FY22 HK$80.8M

FY23 HK$106M

FY24 HK$195M

FY25 HK$192M

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Similar stocks

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

Stock	Price	Fair Value	vs Fair Value
Cameco Corporation CCJ	$120.51	$10.69	-91%
China National Uranium Co 001280	¥69.68	¥13.77	-80%
National Atomic Company NATKY	$70.00	$51.29	-27%
NexGen Energy Ltd NXE	$10.45	$4.98	-52%
NXG NXG	A$14.63	A$4.99	-66%
Uranium Energy Corp UEC	$9.42	$0.2200	-98%

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Frequently asked questions

Is 2302 (2302) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$7.81 versus a price of HK$4.19 — about +86% (undervalued). Model-based estimate, not financial advice.

What is the fair value of 2302?

Our model-based fair value for 2302 is HK$7.81 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$4.19.

What is the quality score of 2302?

2302 has a Quality Score of 56/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 2302 (2302)?

2302 reported trailing-twelve-month revenue of about HK$2.5B (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 2302?

The net profit margin of 2302 is about 7.7%, meaning it keeps roughly 7.7% 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.