2429 (2429) Fair Value & Analysis

Consumer Defensive · Market cap HK$2.5B

2 2429 2429 · HK

PriceHK$2.52

Fair ValueHK$1.36

Upside-46.0%

Quality51/100

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Evidence: Medium Range HK$1.19 – HK$1.53

Fair value as of: Jul 2, 2026

From 11 valuation models · updated today

Share price +23.5% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$1.96 – HK$4.00 · fair‑value band HK$1.19 – HK$1.53 · the HK$2.52 price screens above the HK$1.36 fair value. As of Jul 2, 2026.

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Analysis

2429 (2429) currently trades at HK$2.52, while our model-based Fair Value estimate is HK$1.36 — implying the stock looks roughly 46.0% overvalued today. We read business quality at 51/100 (solid quality), in the Consumer Defensive 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: medium).

Over the trailing twelve months, 2429 generated revenue of HK$2.8B at a net margin of -2.5%. Revenue declined 7.5% year over year. It earns a return on equity of -7.6%. The balance sheet holds a net cash position of HK$643M. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$2.8B

Revenue growth (YoY) -7.5%

Net margin -2.5%

Return on equity -7.6%

Free cash flow HK$59.2M FY2025

Operating margin -1.5%

More key figures

EPS (TTM) HK$-0.0400

Net cash HK$643M FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

2429 reported revenue of HK$2.8B in FY2025 versus HK$2.7B in FY2021, a compound +0.8%/yr. Reported net income was −HK$66.9M in FY2025.

Revenue +0.8%/yr

FY21 HK$2.7B

FY22 HK$2.5B

FY23 HK$2.7B

FY24 HK$2.9B

FY25 HK$2.8B

Net income

FY21 −HK$185M

FY22 −HK$285M

FY23 −HK$327M

FY24 −HK$197M

FY25 −HK$66.9M

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Similar stocks

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

Stock	Price	Fair Value	vs Fair Value
L L	C$65.53	C$40.13	-39%
Loblaw Companies Limited LOBLY	$11.28	$8.07	-28%
The Kroger Co KR	$63.57	$26.18	-59%
Koninklijke Ahold Delhaize N.V AHODF	$41.10	$61.32	+49%
Tesco PLC TSCDF	$5.94	$7.90	+33%
Woolworths Group WOW	A$37.63	A$12.52	-67%

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Frequently asked questions

Is 2429 (2429) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$1.36 versus a price of HK$2.52 — about −46% (overvalued). Model-based estimate, not financial advice.

What is the fair value of 2429?

Our model-based fair value for 2429 is HK$1.36 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$2.52.

What is the quality score of 2429?

2429 has a Quality Score of 51/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 2429 (2429)?

2429 reported trailing-twelve-month revenue of about HK$2.8B (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 2429?

The net profit margin of 2429 is about -2.5%, 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.