2348 (2348) Fair Value & Analysis

Healthcare · Market cap HK$1.5B

2 2348 2348 · HK

PriceHK$1.00

Fair ValueHK$3.61

Upside+261.0%

Quality61/100

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Evidence: High Range HK$2.71 – HK$4.47

Fair value as of: Jul 2, 2026

From 25 valuation models · updated today

Share price −4.8% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$0.9900 – HK$1.34 · fair‑value band HK$2.71 – HK$4.47 · the HK$1.00 price screens below the HK$3.61 fair value. As of Jul 2, 2026.

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Analysis

2348 (2348) currently trades at HK$1.00, while our model-based Fair Value estimate is HK$3.61 — implying the stock looks roughly 261.0% undervalued today. We read business quality at 61/100 (solid quality), in the Healthcare 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, 2348 generated revenue of HK$1.2B at a net margin of 17.4%. Revenue grew 24.4% year over year. It earns a return on equity of 6.3%. The balance sheet holds a net cash position of HK$1.1B. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$1.2B

Revenue growth (YoY) +24.4%

Net margin 17.4%

Return on equity 6.3%

Free cash flow HK$236M FY2025

P/E ratio 6.3

More key figures

Operating margin 19.9%

EPS (TTM) HK$0.0700

Dividend yield 5.6%

EPS growth (YoY) +47.8%

Net cash HK$1.1B FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

2348 reported revenue of HK$1.2B in FY2025 versus HK$1.2B in FY2021, a compound +1.4%/yr. Reported net income was HK$214M in FY2025, compounding −12.1%/yr from FY2021.

Revenue +1.4%/yr

FY21 HK$1.2B

FY22 HK$1.3B

FY23 HK$1.2B

FY24 HK$1.1B

FY25 HK$1.2B

Net income −12.1%/yr

FY21 HK$358M

FY22 HK$358M

FY23 HK$326M

FY24 HK$565M

FY25 HK$214M

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Similar stocks

6 more Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).

Stock	Price	Fair Value	vs Fair Value
1276 1276	HK$57.85	HK$29.84	-48%
Jiangsu Hengrui Pharmaceuticals Co 600276	¥47.08	¥26.59	-44%
Sun Pharmaceutical Industries Limited SUNPHARMA	₹1,782	₹915.92	-49%
Zoetis Inc Z1TS34	R$26.19	R$26.01	-1%
Hansoh Pharmaceutical Group 3692	HK$29.30	HK$23.90	-18%
Divi's Laboratories Limited DIVISLAB	₹6,639	₹1,281	-81%

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Frequently asked questions

Is 2348 (2348) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$3.61 versus a price of HK$1.00 — about +261% (undervalued). Model-based estimate, not financial advice.

What is the fair value of 2348?

Our model-based fair value for 2348 is HK$3.61 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$1.00.

What is the quality score of 2348?

2348 has a Quality Score of 61/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 2348 (2348)?

2348 reported trailing-twelve-month revenue of about HK$1.2B (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 2348?

The net profit margin of 2348 is about 17.4%, meaning it keeps roughly 17.4% of revenue as net income. Based on the latest reported figures.

Does 2348 pay a dividend?

2348 currently shows a dividend yield of about 5.59% relative to its recent price (as of Jul 2, 2026).

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.