2312 (2312) Fair Value & Analysis

Financial Services · Market cap HK$160M

2 2312 2312 · HK

PriceHK$0.3650

Fair ValueHK$0.2500

Upside-31.5%

Quality22/100

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Evidence: Low Range HK$0.1600 – HK$0.3100

Fair value as of: Jul 2, 2026

From 1 valuation models · updated today

Share price −18.0% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$0.3350 – HK$1.90 · fair‑value band HK$0.1600 – HK$0.3100 · the HK$0.3650 price screens above the HK$0.2500 fair value. As of Jul 2, 2026.

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Analysis

2312 (2312) currently trades at HK$0.3650, while our model-based Fair Value estimate is HK$0.2500 — implying the stock looks roughly 31.5% overvalued today. We read business quality at 22/100 (below-average quality), in the Financial Services 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).

It earns a return on equity of -12.9%. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) −HK$7.0M

Return on equity -12.9%

Free cash flow −HK$86.3M FY2025

Operating margin 151%

EPS (TTM) HK$0.0100

Net cash HK$952K FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

2312 reported revenue of HK$843K in FY2025 versus −HK$45.5M in FY2021. Reported net income was −HK$14.7M in FY2025.

Revenue

FY21 −HK$45.5M

FY22 −HK$15.9M

FY23 −HK$4.2M

FY24 HK$2.0M

FY25 HK$843K

Net income

FY21 −HK$51.6M

FY22 −HK$20.5M

FY23 −HK$8.0M

FY24 −HK$2.0M

FY25 −HK$14.7M

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Similar stocks

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

Stock	Price	Fair Value	vs Fair Value
Fondul Proprietatea SA FP	$0.0420	$0.0800	+90%
The Schiehallion Fund Limited MNTN	$2.27	$4.54	+100%
BLK BLK	17,417 MXN	10,294 MXN	-41%
BlackRock, Inc UU2	€923.80	€569.37	-38%
BH Macro Limited BHMU	$4.42	$8.84	+100%
Blackstone Inc BX	$123.26	$52.88	-57%

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Frequently asked questions

Is 2312 (2312) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$0.2500 versus a price of HK$0.3650 — about −32% (overvalued). Model-based estimate, not financial advice.

What is the fair value of 2312?

Our model-based fair value for 2312 is HK$0.2500 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$0.3650.

What is the quality score of 2312?

2312 has a Quality Score of 22/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the net profit margin of 2312?

The net profit margin of 2312 is about 0.0%, meaning it keeps roughly 0.0% 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.