2381 (2381) Fair Value & Analysis

Consumer Cyclical · Market cap HK$590M

2 2381 2381 · HK

PriceHK$0.2950

Fair ValueHK$0.0800

Upside-72.9%

Quality67/100

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Evidence: High Range HK$0.0600 – HK$0.1000

Fair value as of: Jul 2, 2026

From 24 valuation models · updated today

Share price +21.3% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$0.0866 – HK$0.3150 · fair‑value band HK$0.0600 – HK$0.1000 · the HK$0.2950 price screens above the HK$0.0800 fair value. As of Jul 2, 2026.

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Analysis

2381 (2381) currently trades at HK$0.2950, while our model-based Fair Value estimate is HK$0.0800 — implying the stock looks roughly 72.9% overvalued today. We read business quality at 67/100 (solid quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: high).

Over the trailing twelve months, 2381 generated revenue of HK$218M at a net margin of 4.4%. Revenue declined 34.1% year over year. It earns a return on equity of 7.3%. The balance sheet holds a net cash position of HK$67.3M. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$218M

Revenue growth (YoY) -34.1%

Net margin 4.4%

Return on equity 7.3%

Free cash flow HK$4.0M FY2025

Operating margin -6.9%

More key figures

EPS (TTM) HK$0.0100

Dividend yield 3.3%

EPS growth (YoY) -0.5%

Net cash HK$67.3M FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

2381 reported revenue of HK$218M in FY2025 versus HK$230M in FY2021, a compound −1.4%/yr. Reported net income was HK$9.5M in FY2025, compounding −23.9%/yr from FY2021.

Revenue −1.4%/yr

FY21 HK$230M

FY22 HK$254M

FY23 HK$233M

FY24 HK$257M

FY25 HK$218M

Net income −23.9%/yr

FY21 HK$28.3M

FY22 HK$22.4M

FY23 HK$20.8M

FY24 HK$26.4M

FY25 HK$9.5M

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Similar stocks

6 more Furnishings, Fixtures & Appliances stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).

Stock	Price	Fair Value	vs Fair Value
Midea Group 000333	¥81.69	¥128.24	+57%
0300 0300	HK$82.60	HK$113.26	+37%
Haier Smart Home Co QIHCF	$2.42	$4.20	+74%
Gree Electric Appliances, Inc 000651	¥38.20	¥86.03	+125%
6690 6690	HK$20.32	HK$47.00	+131%
Guangdong Songfa Ceramics Co 603268	¥142.09	¥52.95	-63%

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Frequently asked questions

Is 2381 (2381) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$0.0800 versus a price of HK$0.2950 — about −73% (overvalued). Model-based estimate, not financial advice.

What is the fair value of 2381?

Our model-based fair value for 2381 is HK$0.0800 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$0.2950.

What is the quality score of 2381?

2381 has a Quality Score of 67/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 2381 (2381)?

2381 reported trailing-twelve-month revenue of about HK$218M (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 2381?

The net profit margin of 2381 is about 4.4%, meaning it keeps roughly 4.4% of revenue as net income. Based on the latest reported figures.

Does 2381 pay a dividend?

2381 currently shows a dividend yield of about 3.28% 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.