Lee & Man Paper Manufacturing Limited (2314) Fair Value & Analysis
Basic Materials · HK · Market cap HK$12.6B
Fair value as of: Aug 5, 2026
From 25 valuation models · updated 5 days ago
Fair value updated Aug 5, 2026, revised from HK$5.86 to HK$6.55 (+11.7%) since Jul 2, 2026. Share price +40.8% over the past month.
A solid business, screening 48% undervalued on our models.
What matters now
- The price is below even our cautious bear case (HK$5.51). The market is more pessimistic than our downside scenario.
- Solid quality (54/100) 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 5, 2026.
How to read this chart
60‑month range HK$1.77 – HK$6.33 · fair‑value band HK$5.51 – HK$6.57 · the HK$4.42 price screens below the HK$6.55 fair value. Dashed = 300-day average. As of Aug 5, 2026.
Analysis
Lee & Man Paper Manufacturing Limited (2314) currently trades at HK$4.42, while our model-based Fair Value estimate is HK$6.55, implying the stock looks roughly 48.1% undervalued today. The Quality Score stands at 54/100 (solid quality), in the Basic Materials 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, Lee & Man Paper Manufacturing Limited generated revenue of HK$26.6B at a net margin of 7.3%. Revenue grew 6.8% year over year. It earns a return on equity of 6.6%. Net debt stands at HK$19.1B. Fundamentals as of Aug 5, 2026
Our scenario range runs from HK$5.51 (bear case) to HK$6.57 (bull case); at HK$4.42, 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 near its 52-week high and 102% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at 10% fair-value upside, at 48%, 2314 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 25 models by family
Widest divergence: Growth Earnings (HK$6.80) versus Economic Profit (HK$1.26). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 5, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 53 · Market factors (momentum, volatility) 77
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
Lee & Man Paper Manufacturing Limited, together with its subsidiaries, engages in the manufacture and trading of packaging paper, pulp, and tissue paper in the People's Republic of China, Vietnam, Malaysia, Macau, and Hong Kong. It operates through the Packaging Paper, Tissue Paper, and Pulp segments.
Full company description
Lee & Man Paper Manufacturing Limited, together with its subsidiaries, engages in the manufacture and trading of packaging paper, pulp, and tissue paper in the People's Republic of China, Vietnam, Malaysia, Macau, and Hong Kong. It operates through the Packaging Paper, Tissue Paper, and Pulp segments. The company offers packaging paper products, including kraft linerboard, test linerboard, coated duplex board, white-top linerboard, and high-strength corrugating medium; tissue paper products, comprising facial tissue, toilet paper, handkerchiefs, kitchen towels, napkins, and hand towels; pulp products, such as bleached hardwood, unbleached bamboo, and bleached bamboo kraft pulp; and coated duplex boards. It also provides after-sales services. The company was founded in 1994 and is headquartered in North Point, Hong Kong.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Lee & Man Paper Manufacturing Limited reported revenue of HK$26.6B in FY2025 versus HK$32.5B in FY2021, a compound −4.9%/yr. Reported net income was HK$1.9B in FY2025, compounding −12.1%/yr from FY2021.
of which total revenue +4.3 pp · buybacks/dilution +0.8 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
Watch 2314: get an alert when its fair value changes →
Peer Group
Paper & Paper Products · 111 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 Paper & Paper Products 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 Paper & Paper Products stocks, each showing price versus our Fair Value estimate (as of Aug 5, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Klabin S.A KLBN11 | R$17.58 | R$3.89 | -78% |
| UPM-Kymmene Oyj UPM | €23.45 | €15.47 | -34% |
| Suzano S.A SUZB3 | R$41.70 | R$138.01 | +231% |
| Svenska Cellulosa Aktiebolaget SCA (publ) SCAB | kr 103.00 | kr 49.40 | -52% |
| Shandong Sunpaper Co 002078 | ¥14.13 | ¥17.29 | +22% |
| Holmen AB HOLMB | kr 305.40 | kr 217.72 | -29% |
| Nine Dragons Paper (Holdings) Limited 2689 | HK$7.55 | HK$8.73 | +16% |
| Empresas CMPC S.A CMPC | 1,078 CLP | 1,269 CLP | +18% |
| Xianhe Co 603733 | ¥22.05 | ¥24.32 | +10% |
| Billerud AB BILL | kr 68.70 | kr 48.60 | -29% |
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Frequently asked questions
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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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