2390 (2390) Fair Value & Analysis

Communication Services · Market cap HK$2.1B

2 2390 2390 · HK

PriceHK$7.97

Fair ValueHK$12.80

Upside+60.6%

Quality52/100

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Evidence: Low Range HK$8.45 – HK$16.00

Fair value as of: Jul 2, 2026

From 1 valuation models · updated today

Share price −3.0% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$7.10 – HK$14.33 · fair‑value band HK$8.45 – HK$16.00 · the HK$7.97 price screens below the HK$12.80 fair value. As of Jul 2, 2026.

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Analysis

2390 (2390) currently trades at HK$7.97, while our model-based Fair Value estimate is HK$12.80 — implying the stock looks roughly 60.6% undervalued today. We read business quality at 52/100 (solid quality), in the Communication Services 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: low) — always confirm before acting.

Over the trailing twelve months, 2390 generated revenue of HK$2.7B at a net margin of -7.2%. Revenue declined 10.7% year over year. It earns a return on equity of -4.9%. The balance sheet holds a net cash position of HK$3.3B. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$2.7B

Revenue growth (YoY) -10.7%

Net margin -7.2%

Return on equity -4.9%

Free cash flow −HK$355M FY2025

Operating margin -9.7%

More key figures

EPS (TTM) HK$0.0886

Net cash HK$3.3B FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

2390 reported revenue of HK$2.7B in FY2025 versus HK$3.0B in FY2021, a compound −1.8%/yr. Reported net income was −HK$193M in FY2025.

Revenue −1.8%/yr

FY21 HK$3.0B

FY22 HK$3.6B

FY23 HK$4.2B

FY24 HK$3.6B

FY25 HK$2.7B

Net income

FY21 −HK$1.3B

FY22 −HK$1.6B

FY23 −HK$844M

FY24 −HK$172M

FY25 −HK$193M

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Frequently asked questions

Is 2390 (2390) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$12.80 versus a price of HK$7.97 — about +61% (undervalued). Model-based estimate, not financial advice.

What is the fair value of 2390?

Our model-based fair value for 2390 is HK$12.80 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$7.97.

What is the quality score of 2390?

2390 has a Quality Score of 52/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 2390 (2390)?

2390 reported trailing-twelve-month revenue of about HK$2.7B (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 2390?

The net profit margin of 2390 is about -7.2%, meaning it is currently running at a net loss. Based on the latest reported figures.

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.