2400 (2400) Fair Value & Analysis

Communication Services · Market cap HK$21.9B

2 2400 2400 · HK

PriceHK$45.54

Fair ValueHK$58.16

Upside+27.7%

Quality58/100

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Evidence: Medium Range HK$45.48 – HK$127.18

Fair value as of: Jul 2, 2026

From 26 valuation models · updated today

Share price −20.0% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$43.42 – HK$91.80 · fair‑value band HK$45.48 – HK$127.18 · the HK$45.54 price screens below the HK$58.16 fair value. As of Jul 2, 2026.

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Analysis

2400 (2400) currently trades at HK$45.54, while our model-based Fair Value estimate is HK$58.16 — implying the stock looks roughly 27.7% undervalued today. We read business quality at 58/100 (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: medium) — always confirm before acting.

Over the trailing twelve months, 2400 generated revenue of HK$5.8B at a net margin of 26.6%. Revenue declined 3.9% year over year. It earns a return on equity of 49.0%. The balance sheet holds a net cash position of HK$3.6B. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$5.8B

Revenue growth (YoY) -3.9%

Net margin 26.6%

Return on equity 49.0%

Free cash flow HK$1.4B FY2025

P/E ratio 12.9

More key figures

Operating margin 30.4%

EPS (TTM) HK$1.54

EPS growth (YoY) +23.2%

Net cash HK$3.6B FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

2400 reported revenue of HK$5.8B in FY2025 versus HK$2.7B in FY2021, a compound +20.8%/yr. Reported net income was HK$1.5B in FY2025.

Revenue +20.8%/yr

FY21 HK$2.7B

FY22 HK$3.4B

FY23 HK$3.4B

FY24 HK$5.0B

FY25 HK$5.8B

Net income

FY21 −HK$864M

FY22 −HK$553M

FY23 −HK$83.0M

FY24 HK$812M

FY25 HK$1.5B

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6 more Electronic Gaming & Multimedia stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).

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Konami Group KNM	£193.85	£0.7300	-100%
NetEase, Inc NTES	$119.25	$170.52	+43%
Nintendo Co NTDOF	$42.74	$35.44	-17%
Electronic Arts Inc EA	$203.20	$58.78	-71%
Take-Two Interactive Software, Inc TTWO	$214.39	$102.48	-52%
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Frequently asked questions

Is 2400 (2400) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$58.16 versus a price of HK$45.54 — about +28% (undervalued). Model-based estimate, not financial advice.

What is the fair value of 2400?

Our model-based fair value for 2400 is HK$58.16 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$45.54.

What is the quality score of 2400?

2400 has a Quality Score of 58/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 2400 (2400)?

2400 reported trailing-twelve-month revenue of about HK$5.8B (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 2400?

The net profit margin of 2400 is about 26.6%, meaning it keeps roughly 26.6% of revenue as net income. 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.