2863 (2863) Fair Value & Analysis

Industrials · Market cap HK$496M

2 2863 2863 · HK

PriceHK$0.8300

Fair ValueHK$0.5000

Upside-39.8%

Quality67/100

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Evidence: Low Range HK$0.2500 – HK$0.7500

Fair value as of: Jul 2, 2026

From 3 valuation models · updated today

Share price +45.6% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$0.3050 – HK$0.8300 · fair‑value band HK$0.2500 – HK$0.7500 · the HK$0.8300 price screens above the HK$0.5000 fair value. As of Jul 2, 2026.

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Analysis

2863 (2863) currently trades at HK$0.8300, while our model-based Fair Value estimate is HK$0.5000 — implying the stock looks roughly 39.8% overvalued today. We read business quality at 67/100 (solid quality), in the Industrials 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: low).

Over the trailing twelve months, 2863 generated revenue of HK$404M at a net margin of -6.3%. Revenue declined 23.6% year over year. It earns a return on equity of -10.2%. The balance sheet holds a net cash position of HK$67.5M. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$404M

Revenue growth (YoY) -23.6%

Net margin -6.3%

Return on equity -10.2%

Free cash flow −HK$32.8M FY2025

Operating margin 0.0%

More key figures

EPS (TTM) HK$-0.0400

EPS growth (YoY) +50.0%

Net cash HK$67.5M FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

2863 reported revenue of HK$467M in FY2025 versus HK$255M in FY2021, a compound +16.4%/yr. Reported net income was −HK$17.9M in FY2025.

Revenue +16.4%/yr

FY21 HK$255M

FY22 HK$349M

FY23 HK$671M

FY24 HK$737M

FY25 HK$467M

Net income

FY21 HK$17.0M

FY22 HK$11.6M

FY23 −HK$21.6M

FY24 −HK$6.3M

FY25 −HK$17.9M

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Similar stocks

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

Stock	Price	Fair Value	vs Fair Value
Larsen & Toubro Limited LTOD	$0.4415	$0.5700	+29%
Samsung C&T Corporation 028260	520,000 KRW	268,469 KRW	-48%
China State Construction Engineering Corporation 601668	¥4.65	¥17.35	+273%
TopBuild Corp BLD	7,547 MXN	324.01 MXN	-96%
000720 000720	115,100 KRW	64,227 KRW	-44%
United Integrated Services Co 2404	1,195 TWD	1,681 TWD	+41%

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Frequently asked questions

Is 2863 (2863) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$0.5000 versus a price of HK$0.8300 — about −40% (overvalued). Model-based estimate, not financial advice.

What is the fair value of 2863?

Our model-based fair value for 2863 is HK$0.5000 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$0.8300.

What is the quality score of 2863?

2863 has a Quality Score of 67/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 2863 (2863)?

2863 reported trailing-twelve-month revenue of about HK$404M (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 2863?

The net profit margin of 2863 is about -6.3%, 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.