2368 (2368) Fair Value & Analysis

Consumer Cyclical · Market cap HK$1.6B

2 2368 2368 · HK

PriceHK$2.70

Fair ValueHK$5.68

Upside+110.4%

Quality44/100

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Evidence: High Range HK$3.97 – HK$7.38

Fair value as of: Jul 2, 2026

From 16 valuation models · updated today

Share price −3.6% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$2.65 – HK$3.77 · fair‑value band HK$3.97 – HK$7.38 · the HK$2.70 price screens below the HK$5.68 fair value. As of Jul 2, 2026.

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Analysis

2368 (2368) currently trades at HK$2.70, while our model-based Fair Value estimate is HK$5.68 — implying the stock looks roughly 110.4% undervalued today. We read business quality at 44/100 (below-average quality), in the Consumer Cyclical 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, 2368 generated revenue of HK$5.0B at a net margin of 3.5%. Revenue declined 7.1% year over year. It earns a return on equity of 9.7%. Net debt stands at HK$743M. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$5.0B

Revenue growth (YoY) -7.1%

Net margin 3.5%

Return on equity 9.7%

Free cash flow −HK$245M FY2025

P/E ratio 9.2

More key figures

Operating margin -1.9%

EPS (TTM) HK$0.0600

Dividend yield 9.6%

EPS growth (YoY) +7.4%

Net debt HK$743M FY2026

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

2368 reported revenue of HK$5.0B in FY2026 versus HK$3.7B in FY2022, a compound +8.2%/yr. Reported net income was HK$174M in FY2026, compounding −10.8%/yr from FY2022.

Revenue +8.2%/yr

FY22 HK$3.7B

FY23 HK$4.1B

FY24 HK$4.1B

FY25 HK$4.8B

FY26 HK$5.0B

Net income −10.8%/yr

FY22 HK$275M

FY23 HK$293M

FY24 HK$264M

FY25 HK$217M

FY26 HK$174M

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Similar stocks

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

Stock	Price	Fair Value	vs Fair Value
H & M Hennes & Mauritz AB HNNMY	$3.58	$3.95	+10%
Ralph Lauren Corporation RL	$376.43	$423.69	+13%
Moncler S.p.A MONC	€50.90	€50.69	-0%
Gildan Activewear Inc GIL	$57.04	$34.84	-39%
LPP SA LPP	21,720 PLN	18,670 PLN	-14%
Levi Strauss & Co LEVI	$22.53	$56.56	+151%

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Frequently asked questions

Is 2368 (2368) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$5.68 versus a price of HK$2.70 — about +110% (undervalued). Model-based estimate, not financial advice.

What is the fair value of 2368?

Our model-based fair value for 2368 is HK$5.68 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$2.70.

What is the quality score of 2368?

2368 has a Quality Score of 44/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 2368 (2368)?

2368 reported trailing-twelve-month revenue of about HK$5.0B (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 2368?

The net profit margin of 2368 is about 3.5%, meaning it keeps roughly 3.5% of revenue as net income. Based on the latest reported figures.

Does 2368 pay a dividend?

2368 currently shows a dividend yield of about 9.59% 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.