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Hop Fung Group Holdings Ltd (2320) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$58.9M (≈ $7.5M) · ISIN KYG459991025

What is Hop Fung Group Holdings Ltd really worth?

HF Hop Fung Group Holdings Ltd 2320 · HK
PriceHK$0.2120
Fair ValueHK$0.0448
Upside−78.9%
Quality36/100

Below-average quality, and trading another 373% above our fair value of HK$0.0448.

As of Sep 6, 2026, the fair value of Hop Fung Group Holdings Ltd is HK$0.0448 per share against a price of HK$0.2120, so the fair value sits 79% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Risks

!Weak Growth (revenue 5y −33.9 %/yr)
!Loss-making · -68.3% net margin
!Low debt · negative free cash flow
!Trails peers (3/10)
!Narrow moat 0/100
!Evidence only low, so the estimate is less certain
Evidence: Low Range HK$0.0332 – HK$0.0664

Fair value as of: Sep 6, 2026

From 1 valuation models · updated today

Fair value updated Sep 6, 2026, revised from HK$0.0444 to HK$0.0448 (+0.9%) since Aug 13, 2026. Share price −12.0% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (HK$0.0664). The favourable scenario is already priced in.
  • Weak quality (36/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • A fairly wide model range (HK$0.0332 to HK$0.0664) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

HK$0.3300 HK$0.0550 Fair Value HK$0.0448 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 6, 2026.

How to read this chart

60‑month range HK$0.0550 – HK$0.3300 · fair‑value band HK$0.0332 – HK$0.0664 · the HK$0.2120 price screens above the HK$0.0448 fair value. Dashed = 300-day average. As of Sep 6, 2026.

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Analysis

Hop Fung Group Holdings Ltd (2320) currently trades at HK$0.2120, while our model-based Fair Value estimate is HK$0.0448, implying the stock looks roughly 373.3% overvalued today. The Quality Score stands at 36/100 (below-average quality), in the Consumer Cyclical sector. How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.

Over the trailing twelve months, Hop Fung Group Holdings Ltd generated revenue of HK$131M at a net margin of −68.3%. Revenue declined 39.9% year over year. It earns a return on equity of −12.9%. Net debt stands at HK$81.6M. Fundamentals as of Sep 6, 2026

Our scenario range runs from HK$0.0332 (bear case) to HK$0.0664 (bull case); at HK$0.2120, the current price sits above 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. For context, the median of 10 Consumer Cyclical peers we cover trades at −39% fair-value upside, at −79%, 2320 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
NCAV (Graham) best evidence HK$0.4100 HK$0.5400 HK$0.8100 54
All 1 models by family
Asset-Based
NCAV (Graham) best evidence HK$0.4100 HK$0.5400 HK$0.8100 54

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Key figures & financial health

P/S ratio 0.45 TTM
EPS (TTM) HK$−0.0500
Net margin −68.3% FY2025
Return on equity −12.9% TTM
Return on assets (EBIT) −9.7% avg 5y
Operating margin −52.5% TTM
More key figures
Growth
Revenue (TTM) HK$131M TTM
Revenue growth (YoY) −39.9% 3y avg −32.3%
EPS growth (YoY) −91.7%
Balance sheet & cash flow
Free cash flow −HK$23.5M FY2025
Net debt HK$81.6M FY2025

Figures from reported company fundamentals · as of Sep 6, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 36/100

Of which business quality 35 · Market factors (momentum, volatility) 85

Profitability 0
Margins and returns on capital today
Quality Growth 21
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Hop Fung Group Holdings Limited, an investment holding company, engages in the manufacture, trade, and sale of containerboard and corrugated packaging products in the People's Republic of China. It operates through Containerboard and Corrugated Packaging segments.

Full company description

Hop Fung Group Holdings Limited, an investment holding company, engages in the manufacture, trade, and sale of containerboard and corrugated packaging products in the People's Republic of China. It operates through Containerboard and Corrugated Packaging segments. The company offers corrugating medium and linerboards; and corrugated paper boards and carton boxes. It also provides management and accounting services; and trading of corrugated packaging and procurement of raw materials. Hop Fung Group Holdings Limited was founded in 1983 and is based in Tsuen Wan, Hong Kong.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Hop Fung Group Holdings Ltd reported revenue of HK$131M in FY2025 versus HK$756M in FY2021, a compound −35.4%/yr. Reported net income was −HK$89.7M in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$131M
Latest YoY
−37.9%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−32.3%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−33.9%
Avg. revenue growth/yr (22Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−6.6%
EBIT margin (trend) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−0.7% (2020) → −61.9% (2025)
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue −35.4%/yr
FY21 HK$756M
FY22 HK$424M
FY23 HK$224M
FY24 HK$212M
FY25 HK$131M
Net income
FY21 −HK$172M
FY22 −HK$193M
FY23 −HK$101M
FY24 −HK$95.2M
FY25 −HK$89.7M

2320 screens 373% overvalued. Compare with Smurfit Westrock Plc, →

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Cite: Fair Value Calculator (2026). "Hop Fung Group Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2320.HK

Peer Group

Packaging & Containers · 271 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.

Quality Score 35 · Bottom 25%
Fair Value upside −81% · Bottom 25%
Return on assets −5% · Bottom 25%
Net margin (TTM) −68% · Bottom 25%
Operating margin (TTM) −53% · Bottom 25%
Revenue growth −40% · Bottom 25%
Debt / equity 0.08× · Lower than median

Valuation Multiples vs Packaging & Containers median · lower = cheaper

P/S (TTM) 0.06× · Cheaper than 75% of peers
PEG 0.58× · Cheaper than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 13
FUTURE0 · sector 2
PAST0 · sector 21
HEALTH96 · sector 93
DIVIDEND0 · sector 43

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Packaging & Containers stocks, each showing price versus our Fair Value estimate (as of Sep 6, 2026).

Stock Price Fair Value vs Fair Value
Smurfit Westrock Plc, SW $49.25 $22.66 −54%
Packaging Corporation PKG $233.94 $122.63 −48%
International Paper Company IP $36.46 $21.44 −41%
Amcor plc AMCR $45.15 $18.79 −58%
Ball Corporation BALL $61.67 $36.57 −41%
Crown Holdings CCK $119.08 $118.59 +0%
Avery Dennison Corporation AVY $173.07 $113.05 −35%
CCL Industries Inc CCLA C$93.99 C$77.64 −17%
Stora Enso Oyj STEAV €9.74 €11.42 +17%
SIG Group SIGN CHF 13.66 CHF 8.32 −39%

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Frequently asked questions

Is Hop Fung Group Holdings Ltd (2320) overvalued or undervalued?
As of Sep 6, 2026, our model estimates a fair value of HK$0.0448 versus a price of HK$0.2120, about −79% upside (overvalued).
What is the fair value of 2320?
Our model-based fair value for Hop Fung Group Holdings Ltd is HK$0.0448 (as of Sep 6, 2026), built from audited fundamentals. The current price: HK$0.2120.
What is the quality score of 2320?
Hop Fung Group Holdings Ltd has a Quality Score of 36/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Hop Fung Group Holdings Ltd (2320)?
Our model-based price target is the fair value of HK$0.0448 (as of Sep 6, 2026) from 1 valuation models. Cautious scenario HK$0.0332, optimistic scenario HK$0.0664. It is a calculation from audited fundamentals, not an analyst target.
What is the Hop Fung Group Holdings Ltd stock forecast for 2026?
Our models put fair value at HK$0.0448, about −79% upside versus a price of HK$0.2120 (overvalued). Cautious scenario HK$0.0332, optimistic scenario HK$0.0664. The calculation is refreshed regularly with new filings.
What is the revenue of Hop Fung Group Holdings Ltd (2320)?
Hop Fung Group Holdings Ltd reported trailing-twelve-month revenue of about HK$131M (latest available figure, as of Sep 6, 2026).
What is the net profit margin of 2320?
The net profit margin of Hop Fung Group Holdings Ltd is about −68.3%, meaning it is currently running at a net loss. Based on the latest reported figures.
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