2528 (2528) Fair Value & Analysis

Consumer Cyclical · Market cap HK$348M

2 2528 2528 · HK

PriceHK$0.8900

Fair ValueHK$3.17

Upside+256.2%

Quality81/100

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Evidence: High Range HK$2.38 – HK$3.97

Fair value as of: Jul 2, 2026

From 22 valuation models · updated today

Share price +23.6% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$0.2020 – HK$0.9400 · fair‑value band HK$2.38 – HK$3.97 · the HK$0.8900 price screens below the HK$3.17 fair value. As of Jul 2, 2026.

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Analysis

2528 (2528) currently trades at HK$0.8900, while our model-based Fair Value estimate is HK$3.17 — implying the stock looks roughly 256.2% undervalued today. We read business quality at 81/100 (high 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, 2528 generated revenue of HK$870M at a net margin of 6.6%. Revenue declined 9.2% year over year. It earns a return on equity of 36.5%. Net debt stands at HK$69.2M. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$870M

Revenue growth (YoY) -9.2%

Net margin 6.6%

Return on equity 36.5%

Free cash flow HK$167M FY2025

P/E ratio 6.2

More key figures

Operating margin 8.5%

EPS (TTM) HK$0.0200

Net debt HK$69.2M FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

2528 reported revenue of HK$870M in FY2025 versus HK$1.2B in FY2021, a compound −8.3%/yr. Reported net income was HK$57.7M in FY2025, compounding +15.7%/yr from FY2021.

Revenue −8.3%/yr

FY21 HK$1.2B

FY22 HK$960M

FY23 HK$1.0B

FY24 HK$938M

FY25 HK$870M

Net income +15.7%/yr

FY21 HK$32.2M

FY22 −HK$33.1M

FY23 −HK$16.9M

FY24 −HK$76.9M

FY25 HK$57.7M

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6288 6288	HK$40.98	HK$15.00	-63%
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Frequently asked questions

Is 2528 (2528) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$3.17 versus a price of HK$0.8900 — about +256% (undervalued). Model-based estimate, not financial advice.

What is the fair value of 2528?

Our model-based fair value for 2528 is HK$3.17 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$0.8900.

What is the quality score of 2528?

2528 has a Quality Score of 81/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 2528 (2528)?

2528 reported trailing-twelve-month revenue of about HK$870M (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 2528?

The net profit margin of 2528 is about 6.6%, meaning it keeps roughly 6.6% 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.