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Wasion Group Holdings Ltd (3393) Fair Value & Analysis

Industrials · HK · Market cap HK$19.8B

WG Wasion Group Holdings Ltd 3393 · HK
PriceHK$19.36
Fair ValueHK$32.42
Upside+67.5%
Quality63/100
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Healthy Growth
Solidly profitable · 10.5% net margin
Low debt · generates free cash flow
2.13% dividend yield
Ranks above peers (12/15)
Moderate moat 59/100
Evidence: Medium Range HK$18.72 – HK$41.43 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 3 days ago

Fair value updated Aug 13, 2026, revised from HK$23.65 to HK$32.42 (+37.1%) since Aug 6, 2026. Share price +2.3% over the past month.

A solid business, screening 67% undervalued on our models.

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What matters now

  • Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (HK$18.72 to HK$41.43) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

HK$32.49 HK$1.57 Fair Value HK$32.42 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range HK$1.57 – HK$32.49 · fair‑value band HK$18.72 – HK$41.43 · the HK$19.36 price screens below the HK$32.42 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Wasion Group Holdings Ltd (3393) currently trades at HK$19.36, while our model-based Fair Value estimate is HK$32.42, implying the stock looks roughly 67.5% undervalued today. The Quality Score stands at 63/100 (solid 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: medium), always confirm before acting.

Over the trailing twelve months, Wasion Group Holdings Ltd generated revenue of HK$10.1B at a net margin of 10.5%. Revenue grew 14.2% year over year. It earns a return on equity of 18.9%. The balance sheet holds a net cash position of HK$923M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$18.72 (bear case) to HK$41.43 (bull case); at HK$19.36, the current price sits within 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 42% below its 52-week high and 136% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -65% fair-value upside, at 67%, 3393 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
Growth DCF HK$12.60 HK$23.26 HK$40.13 80
Residual Income HK$6.73 HK$8.85 HK$28.89 76
Rev-Margin DCF HK$15.51 HK$27.92 HK$45.28 74
All 26 models by family
DCF Models
FCF DCF HK$12.89 HK$21.96 HK$44.83 38
Owner Earnings HK$13.17 HK$24.52 HK$46.36 31
5Y Revenue Exit HK$15.51 HK$28.57 HK$47.44 39
5Y EBITDA Exit HK$22.58 HK$44.27 HK$73.45 41
5Y P/E Exit HK$19.68 HK$37.83 HK$60.14 38
10Y Revenue Exit HK$14.09 HK$26.57 HK$48.10 36
10Y EBITDA Exit HK$19.46 HK$38.58 HK$71.52 37
10Y P/E Exit HK$17.47 HK$33.65 HK$59.54 35
Earnings-Based
Graham-Dodd HK$6.92 HK$40.55 HK$56.44 54
Lynch FV HK$11.49 HK$16.41 HK$21.33 50
PEG = 1.0 HK$11.49 HK$16.41 HK$21.33 46
EPV HK$14.60 HK$16.66 HK$18.46 59
Dividend Discount
Gordon GGM HK$3.06 HK$6.37 HK$10.10 70
DDM Multi-Stage HK$3.06 HK$5.37 HK$6.68 61
Multiples
P/E Multiple HK$21.38 HK$28.50 HK$35.63 63
P/S Multiple HK$12.98 HK$17.30 HK$21.63 58
P/B Multiple HK$12.98 HK$17.30 HK$21.63 55
EV/EBIT HK$30.16 HK$39.46 HK$48.76 53
EV/EBITDA HK$27.99 HK$36.56 HK$45.14 54
EV/Revenue HK$16.36 HK$22.41 HK$28.45 43
Asset-Based
NCAV (Graham) HK$3.00 HK$4.02 HK$6.00 50
Growth DCF
Growth DCF HK$12.60 HK$23.26 HK$40.13 80
Rev-Margin DCF HK$15.51 HK$27.92 HK$45.28 74
Economic Profit
Residual Income HK$6.73 HK$8.85 HK$28.89 76
ROIC Compounder HK$16.71 HK$21.94 HK$28.77 72
Growth Earnings
Growth-Adj P/E HK$19.51 HK$27.87 HK$36.24 68

Widest divergence: DCF Models (HK$28.57) versus Asset-Based (HK$4.02). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$10.1B
Revenue growth (YoY) +14.2%
Net margin 10.5%
Return on equity 18.9%
Free cash flow HK$773M FY2025
P/E ratio 15.5 as of Jul 2, 2026
More key figures
Operating margin 17.8%
EPS (TTM) HK$0.4400
Dividend yield 2.1%
EPS growth (YoY) +64.3%
Net cash HK$923M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 61 · Market factors (momentum, volatility) 45

Profitability 47
Margins and returns on capital today
Quality Growth 68
Are margins and returns improving?
Cashflow 46
Earnings quality: real cash, not paper profit
Fin. Strength 75
Balance sheet, leverage, solvency risk
Investment 57
Disciplined investing over empire-building
Low Volatility 23
Calm price path (market factor)
Momentum 44
Price trend over the last 3–12 months (market factor)
52W Momentum 72
Distance to the 52-week high (market factor)
Net Issuance 80
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

Wasion Holdings Limited, an investment holding company, engages in the research and development, production, and sale of energy metering and energy efficiency management solutions for energy supply industries. The company operates through three segments: Smart grid solutions, AI-integrated energy efficiency solutions, and Digital energy services.

Full company description

Wasion Holdings Limited, an investment holding company, engages in the research and development, production, and sale of energy metering and energy efficiency management solutions for energy supply industries. The company operates through three segments: Smart grid solutions, AI-integrated energy efficiency solutions, and Digital energy services. Its Smart grid solutions segment offers power metering infrastructure to provides full-stack intelligent solutions for power grid planning, operation, monitoring, maintenance, and optimization by leveraging intelligence technologies, such as artificial intelligence and machine learning. The AI-integrated energy efficiency solutions segment is involved in the manufacture, sale of communications and fluid metering products with deeply integrates digitalization and intelligent technologies, incorporates AI algorithms, and provides customers with comprehensive energy efficiency analysis, management, and optimization services. Its Digital energy services offer manufacturing, sales of integrated solutions for data centers, smart distribution network, and new energy storage related powering digitalization and intelligentization of the energy ecosystem. It is also involved in the development, manufacture and sale of energy saving products, water, gas and heat meters, switchgears, electronic components, smart distribution devices, and related services; and trading of power meters. It operates in the People's Republic of China, Africa, the United States, Europe, rest of Asia, and internationally. The company was formerly known as Wasion Group Holdings Limited and changed its name to Wasion Holdings Limited in June 2018. The company was founded in 2000 and is headquartered in Wan Chai, Hong Kong. Wasion Holdings Limited is a subsidiary of Star Treasure Investments Holdings Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Wasion Group Holdings Ltd reported revenue of HK$10.1B in FY2025 versus HK$4.6B in FY2021, a compound +21.7%/yr. Reported net income was HK$1.1B in FY2025, compounding +41.0%/yr from FY2021.

Growth Quality 95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
HK$10.1B
Latest YoY
+15.6%
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.
+19.8%
Avg. growth/yr (5Y) 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.
+20.6%
Avg. growth/yr (23Y) 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.
+18.2%
Revenue +21.7%/yr
FY21 HK$4.6B
FY22 HK$5.9B
FY23 HK$7.3B
FY24 HK$8.7B
FY25 HK$10.1B
Net income +41.0%/yr
FY21 HK$268M
FY22 HK$324M
FY23 HK$521M
FY24 HK$706M
FY25 HK$1.1B
Character of growth · EPS growth decomposed (2014-2025) +7.3 % p.a.
Revenue per share +13.4 pp

of which total revenue +13.4 pp · buybacks/dilution +0.0 pp

EBIT margin +0.2 pp
Tax rate −1.1 pp
Residual (interest, one-offs) −5.2 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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Cite: Fair Value Calculator (2026). "Wasion Group Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/3393

Peer Group

Electrical Equipment & Parts · 527 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 63 · Top 25%
Fair Value upside +68% · Top 25%
Return on equity (TTM) 19% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 11% · Top 25%
Operating margin (TTM) 18% · Top 25%
Revenue growth 14% · Above median
Dividend yield (TTM) 2.1% · Above median
Debt / equity 0.17× · Higher than median

Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper

P/E (TTM) 15.5× · Cheaper than 75% of peers
P/B 3.18× · Pricier than median
P/S (TTM) 1.97× · Pricier than median
P/FCF 3.3× · Cheaper than median
EV/EBITDA 9.7× · Cheaper than median
PEG 0.62× · Cheaper than 75% of peers

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 100 · sector 0
FUTURE 71 · sector 57
PAST 76 · sector 26
HEALTH 91 · sector 97
DIVIDEND 43 · sector 23

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 Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Contemporary Amperex Technology Co 3750 HK$652.50 HK$394.19 -40%
Delta Electronics (Thailand) Public Company DELTA 269.00 THB 40.28 THB -85%
LG Energy Solution, Ltd 373220 365,500 KRW 201,455 KRW -45%
WEG S.A WEGE3 14,900 ARS 4,338 ARS -71%
Sungrow Power Supply Co 300274 ¥117.53 ¥123.83 +5%
HD Hyundai Electric Co 267260 782,000 KRW 371,133 KRW -53%
LS ELECTRIC Co 010120 208,500 KRW 29,594 KRW -86%
Hyosung Heavy Industries Corporation 298040 2,892,000 KRW 1,013,099 KRW -65%
Hitachi Energy India Limited POWERINDIA ₹35,800 ₹6,106 -83%
Polycab India Limited POLYCAB ₹9,289 ₹3,218 -65%

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Frequently asked questions

Is Wasion Group Holdings Ltd (3393) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$32.42 versus a price of HK$19.36, about +67% (undervalued).
What is the fair value of 3393?
Our model-based fair value for Wasion Group Holdings Ltd is HK$32.42 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$19.36.
What is the quality score of 3393?
Wasion Group Holdings Ltd has a Quality Score of 63/100. 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 Wasion Group Holdings Ltd (3393)?
Wasion Group Holdings Ltd reported trailing-twelve-month revenue of about HK$10.1B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 3393?
The net profit margin of Wasion Group Holdings Ltd is about 10.5%, meaning it keeps roughly 10.5% of revenue as net income. Based on the latest reported figures.
Does Wasion Group Holdings Ltd pay a dividend?
Wasion Group Holdings Ltd currently shows a dividend yield of about 2.13% relative to its recent price (as of Aug 13, 2026).

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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