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MeiG Smart Technology Co (3268) Fair Value & Analysis

Technology · HK · Market cap HK$5.4B

MS MeiG Smart Technology Co 3268 · HK
PriceHK$17.15
Fair ValueHK$12.59
Upside-26.6%
Quality48/100
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Expensive Growth
Thin margins · 3.9% net margin
Low debt · negative free cash flow
Mixed vs. peers (7/12)
Narrow moat 31/100
Evidence: High Range HK$7.22 – HK$15.74 Share as image

Fair value as of: Jul 7, 2026

From 17 valuation models · updated 34 days ago

Fair value updated Jul 7, 2026, revised from HK$12.91 to HK$12.59 (−2.5%) since Jul 2, 2026. Share price −5.7% over the past month.

Below-average quality, and screening another 27% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$15.74). The favourable scenario is already priced in.
  • Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (HK$7.22 to HK$15.74) leaves room in how you read the outcome.
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Price vs Fair Value (5 months)

HK$29.39 HK$16.03 Fair Value HK$12.59 Mar 2026 Aug 2026

White line = price, green steps = our fair value per fiscal year. As of Jul 7, 2026.

How to read this chart

5‑month range HK$16.03 – HK$29.39 · fair‑value band HK$7.22 – HK$15.74 · the HK$17.15 price screens above the HK$12.59 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Jul 7, 2026.

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Analysis

MeiG Smart Technology Co (3268) currently trades at HK$17.15, while our model-based Fair Value estimate is HK$12.59, implying the stock looks roughly 26.6% overvalued today. The Quality Score stands at 48/100 (below-average quality), in the Technology 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: high).

Over the trailing twelve months, MeiG Smart Technology Co generated revenue of HK$3.7B at a net margin of 3.9%. Revenue declined 7.0% year over year. It earns a return on equity of 6.6%. Net debt stands at HK$74.4M. Fundamentals as of Jul 7, 2026

Our scenario range runs from HK$7.22 (bear case) to HK$15.74 (bull case); at HK$17.15, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 50% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -61% fair-value upside, at -27%, 3268 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income HK$5.39 HK$5.78 HK$6.58 76
ROIC Compounder HK$5.79 HK$6.63 HK$8.30 72
Gordon GGM HK$1.42 HK$2.82 HK$4.27 70
All 17 models by family
DCF Models
Owner Earnings HK$9.34 HK$19.53 HK$40.15 31
Earnings-Based
Graham-Dodd HK$3.71 HK$25.86 HK$36.29 54
Lynch FV HK$9.04 HK$12.91 HK$16.78 50
PEG = 1.0 HK$9.04 HK$12.91 HK$16.78 46
EPV HK$5.79 HK$6.56 HK$7.21 59
Dividend Discount
Gordon GGM HK$1.42 HK$2.82 HK$4.27 70
DDM Multi-Stage HK$1.42 HK$2.44 HK$2.98 61
Multiples
P/E Multiple HK$8.18 HK$10.90 HK$13.63 63
P/S Multiple HK$6.95 HK$9.27 HK$11.59 58
P/B Multiple HK$6.95 HK$9.27 HK$11.59 55
EV/EBIT HK$10.04 HK$13.07 HK$16.10 53
EV/EBITDA HK$9.42 HK$12.25 HK$15.07 54
EV/Revenue HK$7.08 HK$9.71 HK$12.33 43
Asset-Based
NCAV (Graham) HK$3.25 HK$4.36 HK$6.50 50
Economic Profit
Residual Income HK$5.39 HK$5.78 HK$6.58 76
ROIC Compounder HK$5.79 HK$6.63 HK$8.30 72
Growth Earnings
Growth-Adj P/E HK$11.55 HK$16.50 HK$21.45 68

Widest divergence: DCF Models (HK$19.53) versus Dividend Discount (HK$2.44). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) HK$3.7B
Revenue growth (YoY) -7.0%
Net margin 3.9%
Return on equity 6.6%
Free cash flow −HK$13.6M FY2025
P/E ratio 28.4
More key figures
Operating margin 8.2%
EPS (TTM) HK$0.1743
Net debt HK$74.4M FY2025

Figures from reported company fundamentals · as of Jul 7, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 48/100

Of which business quality 50 · Market factors (momentum, volatility) 22

Profitability 47
Margins and returns on capital today
Quality Growth 68
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 34
Disciplined investing over empire-building
Low Volatility 46
Calm price path (market factor)
Momentum 17
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 66
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

MeiG Smart Technology Co., Ltd. engages in the research and development, production, and sale of wireless communication modules and Internet of Things solutions in China and internationally.

Full company description

MeiG Smart Technology Co., Ltd. engages in the research and development, production, and sale of wireless communication modules and Internet of Things solutions in China and internationally. Its products include 5G smart, 5G and 4G LTE, AI computing, automotive, smart, LPWA, and GNSS modules; and wireless data solutions for use in smart positioning and tracking, payment methods for retailers, blind spot monitoring driving, logistics, and alarm and gas alarm solutions in energy sectors. MeiG Smart Technology Co., Ltd. was formerly known as Shenzhen MeiG Smart Technology Co., Ltd and changed its name to MeiG Smart Technology Co., Ltd. in December 2017. The company was incorporated in 2007 and is headquartered in Shenzhen, China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

MeiG Smart Technology Co reported revenue of HK$3.7B in FY2025 versus HK$2.0B in FY2021, a compound +17.5%/yr. Reported net income was HK$143M in FY2025, compounding +4.8%/yr from FY2021.

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
HK$3.7B
Latest YoY
+27.4%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+17.6%
Revenue +17.5%/yr
FY21 HK$2.0B
FY22 HK$2.3B
FY23 HK$2.1B
FY24 HK$2.9B
FY25 HK$3.7B
Net income +4.8%/yr
FY21 HK$118M
FY22 HK$128M
FY23 HK$64.5M
FY24 HK$136M
FY25 HK$143M

3268 screens 27% overvalued. Compare with Cisco Systems, Inc →

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Cite: Fair Value Calculator (2026). "MeiG Smart Technology Co Fair Value". https://www.fairvalue-calculator.com/stock/3268

Peer Group

Communication Equipment · 286 stocks

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.

Quality Score 48 · Below median
Fair Value upside −27% · Above median
Return on equity (TTM) 7% · Above median
Return on assets 3% · Above median
Net margin (TTM) 4% · Above median
Operating margin (TTM) 8% · Above median
Revenue growth -7% · Below median
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Communication Equipment median · lower = cheaper

P/E (TTM) 28.4× · Cheaper than median
P/B 3.17× · Pricier than median
P/S (TTM) 1.47× · Pricier than median
EV/EBITDA 28.2× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 0 · sector 30
PAST 26 · sector 15
HEALTH 98 · sector 98
DIVIDEND 0 · sector 25

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Communication Equipment stocks, each showing price versus our Fair Value estimate (as of Jul 7, 2026).

Stock Price Fair Value vs Fair Value
Cisco Systems, Inc CSCO $119.25 $43.05 -64%
Zhongji Innolight Co 300308 ¥1,094 ¥171.09 -84%
Foxconn Industrial Internet Co 601138 ¥56.50 ¥28.65 -49%
Eoptolink Technology Inc 300502 ¥482.88 ¥155.05 -68%
Nokia Oyj NOK $11.25 $2.67 -76%
Motorola Solutions, Inc MSI $413.31 $190.43 -54%
Suzhou TFC Optical Communication Co 300394 ¥244.13 ¥32.04 -87%
Telefonaktiebolaget LM Ericsson (publ), ERIC $11.72 $15.96 +36%
Accton Technology Corporation 2345 2,090 TWD 846.28 TWD -60%
ZTE Corporation 000063 ¥40.00 ¥15.75 -61%

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Frequently asked questions

Is MeiG Smart Technology Co (3268) overvalued or undervalued?
As of Jul 7, 2026, our model estimates a fair value of HK$12.59 versus a price of HK$17.15, about −27% (overvalued).
What is the fair value of 3268?
Our model-based fair value for MeiG Smart Technology Co is HK$12.59 (as of Jul 7, 2026), built from audited fundamentals. The current price is HK$17.15.
What is the quality score of 3268?
MeiG Smart Technology Co has a Quality Score of 48/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of MeiG Smart Technology Co (3268)?
MeiG Smart Technology Co reported trailing-twelve-month revenue of about HK$3.7B (latest available figure, as of Jul 7, 2026).
What is the net profit margin of 3268?
The net profit margin of MeiG Smart Technology Co is about 3.9%, meaning it keeps roughly 3.9% 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.

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