China State Construction International Holdings (3311) Fair Value & Analysis
Industrials · HK · Market cap HK$37.3B
Fair value as of: Aug 5, 2026
From 17 valuation models · updated 6 days ago
Fair value updated Aug 5, 2026, revised from HK$25.66 to HK$25.20 (−1.8%) since Jul 2, 2026. Share price +14.3% over the past month.
Below-average quality, screening 200% undervalued on our models.
What matters now
- The large discount to fair value meets weak quality (36/100). That raises the risk this is a value trap rather than a bargain.
- The price is below even our cautious bear case (HK$15.43). The market is more pessimistic than our downside scenario.
- A fairly wide model range (HK$15.43 to HK$34.59) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 5, 2026.
How to read this chart
60‑month range HK$3.60 – HK$11.99 · fair‑value band HK$15.43 – HK$34.59 · the HK$8.40 price screens below the HK$25.20 fair value. Dashed = 300-day average. As of Aug 5, 2026.
Analysis
China State Construction International Holdings (3311) currently trades at HK$8.40, while our model-based Fair Value estimate is HK$25.20, implying the stock looks roughly 200.0% undervalued today. The Quality Score stands at 36/100 (below-average quality), in the Industrials 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, China State Construction International Holdings generated revenue of HK$100B at a net margin of 8.8%. Revenue declined 10.2% year over year. It earns a return on equity of 11.9%. Net debt stands at HK$69.4B. Fundamentals as of Aug 5, 2026
Our scenario range runs from HK$15.43 (bear case) to HK$34.59 (bull case); at HK$8.40, the current price sits below 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 last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 28% below its 52-week high and 21% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 200%, 3311 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.
All 17 models by family
Widest divergence: DCF Models (HK$36.01) versus Asset-Based (HK$9.95). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 5, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 33 · Market factors (momentum, volatility) 37
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
China State Construction International Holdings Limited, an investment holding company, engages in the construction business for private and public sectors in Hong Kong, Chinese mainland, Macau, and internationally. It invests in and constructs toll roads and bridges, houses, buildings, hospitals, and schools.
Full company description
China State Construction International Holdings Limited, an investment holding company, engages in the construction business for private and public sectors in Hong Kong, Chinese mainland, Macau, and internationally. It invests in and constructs toll roads and bridges, houses, buildings, hospitals, and schools. The company also undertakes civil engineering projects; operation of infrastructure assets; and mechanical and electrical engineering works. In addition, it is involved in undertaking foundation engineering works, general contracting and prefabricated construction, and industrial plant reconstruction activities; road contracts, and investment-driven contracting and other construction related investment businesses. Further, the company provides insurance brokerage, building construction, project and construction management, and installation repairs and maintenance services; curtain wall; sells and distributes construction materials; issues guaranteed notes; holds trademarks; insurance contracts and rental income from investment properties; leases plant and machinery; generates and supplies heat and electricity; manufactures building-integrated photovoltaics curtain walls and other related products; and manufactures and sells precast structures. Additionally, it engages in the marine engineering works, and property investment and management activities; and infrastructure project investments, infrastructure construction and operation, thermoelectricity, toll road operation, industrial plant reconstruction, project consultancy services, and facade contracting businesses. The company was founded in 1979 and is headquartered in Wan Chai, Hong Kong. China State Construction International Holdings Limited is a subsidiary of China Overseas Holdings Limited.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
China State Construction International Holdings reported revenue of HK$109B in FY2025 versus HK$77.3B in FY2021, a compound +9.0%/yr. Reported net income was HK$9.6B in FY2025, compounding +7.1%/yr from FY2021.
of which total revenue +12.3 pp · buybacks/dilution −2.7 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
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Peer Group
Engineering & Construction · 839 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.
Valuation Multiples vs Engineering & Construction median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 5, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Larsen & Toubro Limited LT | ₹3,815 | ₹1,994 | -48% |
| Samsung C&T Corporation 028260 | 346,000 KRW | 268,779 KRW | -22% |
| Hyundai Engineering & Construction Co 000720 | 99,000 KRW | 63,993 KRW | -35% |
| United Integrated Services Co 2404 | 1,250 TWD | 925.62 TWD | -26% |
| Samsung E&A Co 028050 | 42,550 KRW | 44,840 KRW | +5% |
| Rail Vikas Nigam Limited RVNL | ₹232.67 | ₹61.46 | -74% |
| Daewoo Engineering & Construction Co 047040 | 16,240 KRW | 6,507 KRW | -60% |
| NBCC (India) Limited NBCC | ₹96.32 | ₹48.22 | -50% |
| Cemindia Projects Limited CEMPRO | ₹1,330 | ₹730.69 | -45% |
| KEPCO Engineering & Construction Company 052690 | 92,700 KRW | 20,172 KRW | -78% |
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Frequently asked questions
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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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