2685 (2685) Fair Value & Analysis

Consumer Cyclical · Market cap HK$5.5B

2 2685 2685 · HK

PriceHK$10.60

Fair ValueHK$12.48

Upside+17.7%

Quality43/100

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Evidence: High Range HK$6.56 – HK$16.22

Fair value as of: Jul 2, 2026

From 24 valuation models · updated today

Share price −3.1% over the past month.

Price vs Fair Value (7 months)

7‑month range HK$10.34 – HK$38.80 · fair‑value band HK$6.56 – HK$16.22 · the HK$10.60 price screens below the HK$12.48 fair value. As of Jul 2, 2026.

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Analysis

2685 (2685) currently trades at HK$10.60, while our model-based Fair Value estimate is HK$12.48 — implying the stock looks roughly 17.7% undervalued today. We read business quality at 43/100 (below-average 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, 2685 generated revenue of HK$1.0B at a net margin of 18.9%. It earns a return on equity of 98.5%. The stock trades on a trailing P/E of 23.6. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$1.0B

Net margin 18.9%

Return on equity 98.5%

Free cash flow HK$103M FY2025

P/E ratio 23.6

Operating margin 52.9%

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

Revenue & earnings trend

FY2022 – FY2025 · reported fiscal years

2685 reported revenue of HK$1.0B in FY2025 versus HK$475M in FY2022, a compound +29.6%/yr. Reported net income was HK$195M in FY2025.

Revenue +29.6%/yr

FY22 HK$475M

FY23 HK$530M

FY24 HK$993M

FY25 HK$1.0B

Net income

FY22 −HK$281K

FY23 HK$3.6M

FY24 HK$147M

FY25 HK$195M

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Frequently asked questions

Is 2685 (2685) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$12.48 versus a price of HK$10.60 — about +18% (undervalued). Model-based estimate, not financial advice.

What is the fair value of 2685?

Our model-based fair value for 2685 is HK$12.48 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$10.60.

What is the quality score of 2685?

2685 has a Quality Score of 43/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 2685 (2685)?

2685 reported trailing-twelve-month revenue of about HK$1.0B (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 2685?

The net profit margin of 2685 is about 18.9%, meaning it keeps roughly 18.9% 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.