Wah Sun Handbags International Holdings Ltd (2683) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Wah Sun Handbags International Holdings Ltd HK$3.92, price HK$1.20, upside +226.7%, quality 79 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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Wah Sun Handbags International Holdings Ltd
2683 · HKStrongly undervaluedStrong Fair Value upside with high Quality.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range HK$0.1699 – HK$1.29 · fair‑value band HK$2.61 – HK$4.90 · the HK$1.20 price screens below the HK$3.92 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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Company profile
Wah Sun Handbags International Holdings Limited, an investment holding company, manufactures and trades in non-leather hand-bag products in the United States, Canada, the Netherlands, China, and internationally. Its non-leather handbags are made of synthetic leather, leatherette, vegan leather, and PU leather.
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Wah Sun Handbags International Holdings Limited, an investment holding company, manufactures and trades in non-leather hand-bag products in the United States, Canada, the Netherlands, China, and internationally. Its non-leather handbags are made of synthetic leather, leatherette, vegan leather, and PU leather. The company was founded in 1989 and is headquartered in Sha Tin, Hong Kong. Wah Sun Handbags International Holdings Limited is a subsidiary of Wah Sun International Holdings Limited.
Stock analysis
Wah Sun Handbags International Holdings Ltd (2683) currently trades at HK$1.20, while our model-based Fair Value estimate is HK$3.92, implying the stock looks roughly 69.4% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of HK$3.95 per share, and 23 of the 26 models we run sit above the HK$1.20 price.
Bear case: the Asset-Based group reads lowest at HK$0.5400, and 3 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: HK$2.61 (bear) to HK$4.90 (bull), the price of HK$1.20 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 79/100 (high quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Wah Sun Handbags International Holdings Ltd reported revenue of HK$850M in FY2026 versus HK$618M in FY2022, a compound +8.3%/yr. Reported net income was HK$86.4M in FY2026, compounding +21.6%/yr from FY2022.
Key figures
Market cap HK$490M (≈ $62.5M) · P/E ratio 5.7 · P/S ratio 0.58 · EPS (TTM) HK$0.2100 · Dividend yield 6.7% · Net margin 10.2% · Return on equity 30.2% · Return on assets (EBIT) 13.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 7% below its 52-week high and 53% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 49% fair-value upside, at 227%, 2683 screens cheaper than that median.
Fair Value models
All 26 models by family
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Set up alert →Quality Score breakdown
Of which business quality 78 · Market factors (momentum, volatility) 71
Revenue & earnings trend
Growth Forecast
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Compare Wah Sun Handbags International Holdings Ltd with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Footwear & Accessories · 91 stocks
Valuation Multiplesvs Footwear & Accessories median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Consumer Discretionary sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Hong Kong Stocks
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Footwear & Accessories stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| NIKE, Inc NKE | $35.15 | $34.38 | −2% |
| Deckers Outdoor Corporation DECK | $78.36 | $176.31 | +125% |
| On Holding ONON | $29.96 | $26.80 | −11% |
| Zhejiang China Commodities City Group 600415 | ¥10.84 | ¥27.10 | +150% |
| Crocs, Inc CROX | $122.63 | $281.25 | +129% |
| Huali Industrial Group 300979 | ¥34.18 | ¥50.95 | +49% |
| Birkenstock Holding BIRK | $33.60 | $50.10 | +49% |
| PUMA SE PUM | €22.36 | €10.58 | −53% |
| Steven Madden, Ltd SHOO | $44.90 | $12.34 | −73% |
| Yue Yuen Industrial (Holdings) Limited 0551 | HK$12.60 | HK$31.67 | +151% |
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