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Hailiang International Holdings Ltd (2336) Fair Value & Analysis

Technology · HK · Market cap HK$387M (≈ $49.3M) · ISIN KYG4233P1081

What is Hailiang International Holdings Ltd really worth?

HI Hailiang International Holdings Ltd 2336 · HK
PriceHK$0.2450
Fair ValueHK$0.6900
Upside+181.6%
Quality46/100

Below-average quality, trading 64% below our fair value of HK$0.6900.

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Risks

!Weak Growth (revenue 5y −16.0 %/yr)
!Loss-making · -4.3% net margin
!Low debt · negative free cash flow
!Mixed vs. peers (5/11)
!Narrow moat 2/100
!Evidence only low, so the estimate is less certain
Evidence: Low Range HK$0.4000 – HK$0.9200

Fair value as of: Aug 27, 2026

From 3 valuation models · updated 8 days ago

Share price +0.8% 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 is below even our cautious bear case (HK$0.4000). The market is more pessimistic than our downside scenario.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • Solid quality (46/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (HK$0.4000 to HK$0.9200) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

HK$0.2950 HK$0.0630 Fair Value HK$0.6900 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.

How to read this chart

60‑month range HK$0.0630 – HK$0.2950 · fair‑value band HK$0.4000 – HK$0.9200 · the HK$0.2450 price screens below the HK$0.6900 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 27, 2026.

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Analysis

Hailiang International Holdings Ltd (2336) currently trades at HK$0.2450, while our model-based Fair Value estimate is HK$0.6900, implying the stock looks roughly 64.5% undervalued today. The Quality Score stands at 46/100 (below-average quality), in the Technology sector. Bull case: the Dividend Discount group reads highest at a median of HK$0.7000 per share, and 2 of the 3 models we run sit above the HK$0.2450 price. Bear case: the Asset-Based group reads lowest at HK$0.1300, and 1 of the 3 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Hailiang International Holdings Ltd generated revenue of HK$176M at a net margin of −4.3%. Revenue declined 15.4% year over year. It earns a return on equity of −3.1%. The balance sheet holds a net cash position of HK$67.5M. Fundamentals as of Aug 27, 2026

Our scenario range runs from HK$0.4000 (bear case) to HK$0.9200 (bull case); at HK$0.2450, 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 about 34% below its 52-week high and 222% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −71% fair-value upside, at 182%, 2336 screens cheaper 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
Gordon GGM HK$0.4200 HK$0.7600 HK$1.05 65
DDM Multi-Stage HK$0.4200 HK$0.7000 HK$0.8200 65
NCAV (Graham) HK$0.1000 HK$0.1300 HK$0.2000 53
All 3 models by family
Dividend Discount
Gordon GGM HK$0.4200 HK$0.7600 HK$1.05 65
DDM Multi-Stage HK$0.4200 HK$0.7000 HK$0.8200 65
Asset-Based
NCAV (Graham) HK$0.1000 HK$0.1300 HK$0.2000 53

Widest divergence: Dividend Discount (HK$0.7000) versus Asset-Based (HK$0.1300). Highest evidence: Gordon GGM (65).

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Key figures & financial health

P/S ratio 2.20 TTM
Net margin −4.3% FY2025
Return on equity −3.1% TTM
Return on assets (EBIT) −2.9% avg 5y
Operating margin −11.9% TTM
Revenue (TTM) HK$176M TTM
More key figures
Growth
Revenue growth (YoY) −15.4% 3y avg +12.9%
Balance sheet & cash flow
Free cash flow −HK$5.2M FY2025
Net cash HK$67.5M FY2025

Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 46/100

Of which business quality 47 · Market factors (momentum, volatility) 71

Profitability 10
Margins and returns on capital today
Quality Growth 24
Are margins and returns improving?
Cashflow 6
Earnings quality: real cash, not paper profit
Fin. Strength 89
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 80
Price trend over the last 3–12 months (market factor)
52W Momentum 79
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

Shuoao International Holdings Limited, an investment holding company, engages in the sale of metals and development and provision of electronic turnkey device solutions in Hong Kong, Singapore, and the People's Republic of China.

Full company description

Shuoao International Holdings Limited, an investment holding company, engages in the sale of metals and development and provision of electronic turnkey device solutions in Hong Kong, Singapore, and the People's Republic of China. The company operates through Sale of metals, Development and provision of electronic turnkey device solutions, and Property development segments. It is involved in the manufacture and sale of microcontrollers for home electrical appliances. The company engages in the development of its property development project and metal trading business. The company was formerly known as Hailiang International Holdings Limited and changed its name to Shuoao International Holdings Limited in November 2023. The company was incorporated in 2003 and is headquartered in Central, Hong Kong. Shuoao International Holdings Limited operates as a subsidiary of Hailiang Group Co., Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Hailiang International Holdings Ltd reported revenue of HK$176M in FY2025 versus HK$708M in FY2021, a compound −29.4%/yr. Reported net income was −HK$7.5M in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$176M
Latest YoY
−3.8%
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.
+12.9%
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.
−16.0%
Avg. revenue growth/yr (23Y) 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.
−3.9%
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 −29.4%/yr
FY21 HK$708M
FY22 HK$122M
FY23 HK$137M
FY24 HK$183M
FY25 HK$176M
Net income
FY21 −HK$9.8M
FY22 −HK$9.8M
FY23 −HK$11.3M
FY24 −HK$8.1M
FY25 −HK$7.5M

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Cite: Fair Value Calculator (2026). "Hailiang International Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2336

Peer Group

Semiconductor Equipment & Materials · 215 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 46 · Below median
Fair Value upside +182% · Top 25%
Return on assets −2% · Bottom 25%
Net margin (TTM) −4% · Bottom 25%
Operating margin (TTM) −12% · Bottom 25%
Revenue growth −15% · Bottom 25%

Valuation Multiples vs Semiconductor Equipment & Materials median · lower = cheaper

P/B 0.14× · Cheaper than 75% of peers
P/S (TTM) 0.28× · Cheaper than 75% of peers
PEG 0.99× · Cheaper than median

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
VALUE100 · sector 0
FUTURE0 · sector 60
PAST0 · sector 30
HEALTH100 · sector 96
DIVIDEND0 · sector 17

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 Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).

Stock Price Fair Value vs Fair Value
ASML Holding ASML €1,494 €604.27 −60%
Applied Materials, Inc AMAT $482.36 $183.10 −62%
Lam Research Corporation LRCX $301.90 $91.80 −70%
KLA Corporation KLAC $175.54 $74.58 −58%
NAURA Technology Group 002371 ¥707.90 ¥205.30 −71%
Teradyne, Inc TER $354.97 $65.80 −81%
Advanced Micro-Fabrication Equipment Inc 688012 ¥380.95 ¥55.05 −86%
Piotech Inc 688072 ¥685.11 ¥89.27 −87%
Hon. Precision, Inc 7769 6,445 TWD 1,804 TWD −72%
Hangzhou Changchuan Technology Co 300604 ¥284.80 ¥46.26 −84%

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Frequently asked questions

Is Hailiang International Holdings Ltd (2336) overvalued or undervalued?
As of Aug 27, 2026, our model estimates a fair value of HK$0.6900 versus a price of HK$0.2450, about +182% upside (undervalued).
What is the fair value of 2336?
Our model-based fair value for Hailiang International Holdings Ltd is HK$0.6900 (as of Aug 27, 2026), built from audited fundamentals. The current price: HK$0.2450.
What is the quality score of 2336?
Hailiang International Holdings Ltd has a Quality Score of 46/100. 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 revenue of Hailiang International Holdings Ltd (2336)?
Hailiang International Holdings Ltd reported trailing-twelve-month revenue of about HK$176M (latest available figure, as of Aug 27, 2026).
What is the net profit margin of 2336?
The net profit margin of Hailiang International Holdings Ltd is about −4.3%, meaning it is currently running at a net loss. Based on the latest reported figures.
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