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Hang Sang (Siu Po) Intl Hldg (3626) Fair Value & Analysis

Industrials · HK · Market cap HK$313M

HS Hang Sang (Siu Po) Intl Hldg 3626 · HK
PriceHK$1.70
Fair ValueHK$0.2500
Upside-85.3%
Quality78/100
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Healthy Growth
Thin margins · 2.9% net margin
generates free cash flow
Mixed vs. peers (6/13)
Narrow moat 37/100
Evidence: High Range HK$0.1800 – HK$0.3100 Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 3 days ago

Share price −10.1% over the past month.

A strong business, but screening 85% overvalued on our models.

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What matters now

  • A high-quality business (quality 78/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (HK$0.3100). The favourable scenario is already priced in.
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Price vs Fair Value (5 years)

HK$17.70 HK$0.2410 Fair Value HK$0.2500 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$0.2410 – HK$17.70 · fair‑value band HK$0.1800 – HK$0.3100 · the HK$1.70 price screens above the HK$0.2500 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Hang Sang (Siu Po) Intl Hldg (3626) currently trades at HK$1.70, while our model-based Fair Value estimate is HK$0.2500, implying the stock looks roughly 85.3% overvalued today. The Quality Score stands at 78/100 (high 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: high).

Over the trailing twelve months, Hang Sang (Siu Po) Intl Hldg generated revenue of HK$96.1M at a net margin of 2.9%. Revenue grew 2.1% year over year. It earns a return on equity of 9.1%. The balance sheet holds a net cash position of HK$6.4M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.1800 (bear case) to HK$0.3100 (bull case); at HK$1.70, 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. For context, the median of 10 Industrials peers we cover trades at -38% fair-value upside, at -85%, 3626 screens richer 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$0.1100 HK$0.1200 HK$0.1600 76
Growth DCF HK$0.5200 HK$0.6400 HK$0.8000 72
Gordon GGM HK$0.8400 HK$1.06 HK$1.26 70
All 24 models by family
DCF Models
FCF DCF HK$0.5100 HK$0.6300 HK$0.8200 38
Owner Earnings HK$0.4000 HK$0.4900 HK$0.6400 31
5Y Revenue Exit HK$0.4300 HK$0.5500 HK$0.7300 39
5Y EBITDA Exit HK$0.5000 HK$0.6800 HK$0.9100 41
5Y P/E Exit HK$0.3600 HK$0.4300 HK$0.5200 38
10Y Revenue Exit HK$0.4500 HK$0.5600 HK$0.6900 36
10Y EBITDA Exit HK$0.5000 HK$0.6400 HK$0.8000 37
10Y P/E Exit HK$0.4200 HK$0.4900 HK$0.5600 35
Earnings-Based
Graham-Dodd HK$0.1000 HK$0.1800 HK$0.2200 54
EPV HK$0.3200 HK$0.3600 HK$0.3800 59
Dividend Discount
Gordon GGM HK$0.8400 HK$1.06 HK$1.26 70
DDM Multi-Stage HK$0.8400 HK$1.09 HK$1.35 61
Multiples
P/E Multiple HK$0.1800 HK$0.2500 HK$0.3100 63
P/S Multiple HK$0.1800 HK$0.2500 HK$0.3100 58
P/B Multiple HK$0.1800 HK$0.2500 HK$0.3100 55
EV/EBIT HK$0.4300 HK$0.5500 HK$0.6700 53
EV/EBITDA HK$0.5600 HK$0.7200 HK$0.8800 54
EV/Revenue HK$0.3900 HK$0.5200 HK$0.6500 43
Asset-Based
NCAV (Graham) HK$0.0600 HK$0.0800 HK$0.1200 50
Growth DCF
Growth DCF HK$0.5200 HK$0.6400 HK$0.8000 72
Rev-Margin DCF HK$0.4300 HK$0.5600 HK$0.7300 67
Economic Profit
Residual Income HK$0.1100 HK$0.1200 HK$0.1600 76
ROIC Compounder HK$0.3300 HK$0.3600 HK$0.3900 67
Growth Earnings
Growth-Adj P/E HK$0.1300 HK$0.1900 HK$0.2400 68

Widest divergence: Dividend Discount (HK$1.06) versus Asset-Based (HK$0.0800). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) HK$96.1M
Revenue growth (YoY) +2.1%
Net margin 2.9%
Return on equity 9.1%
Free cash flow HK$9.3M FY2025
P/E ratio 170.0 as of Jul 2, 2026
More key figures
Operating margin 6.8%
EPS (TTM) HK$0.0200
EPS growth (YoY) +5.7%
Net cash HK$6.4M FY2025

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

Quality Score breakdown

Overall quality 78/100

Of which business quality 77 · Market factors (momentum, volatility) 11

Profitability 63
Margins and returns on capital today
Quality Growth 88
Are margins and returns improving?
Cashflow 71
Earnings quality: real cash, not paper profit
Fin. Strength 75
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 16
Calm price path (market factor)
Momentum 14
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 82
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

East Nova Holdings Limited, an investment holding company, engages in the manufacture and sale of apparel labels and packaging printing products. It offers leaflets/newsletters, greeting/catering cards, calendars, books/catalogs, and business cards, as well as stationery and packaging products.

Full company description

East Nova Holdings Limited, an investment holding company, engages in the manufacture and sale of apparel labels and packaging printing products. It offers leaflets/newsletters, greeting/catering cards, calendars, books/catalogs, and business cards, as well as stationery and packaging products. The company is also involved in trading and online distribution of food products, daily necessities, and utility products; and operation of a café. It operates in Hong Kong, South Korea, New Zealand, Vietnam, the United States, Taiwan, China, Indonesia, India, Bangladesh, Macau, El Salvador, Jordan, and internationally. The company was formerly known as Hang Sang (Siu Po) International Holding Company Limited and changed its name to East Nova Holdings Limited in December 2025. The company was founded in 1999 and is headquartered in Cheung Sha Wan, Hong Kong. East Nova Holdings Limited is a subsidiary of Wade Investment SPC Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Hang Sang (Siu Po) Intl Hldg reported revenue of HK$95.2M in FY2025 versus HK$62.7M in FY2021, a compound +11.0%/yr. Reported net income was HK$2.7M in FY2025.

Growth Quality 76/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
HK$95.2M
Latest YoY
+35.9%
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.
+8.0%
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.
+7.9%
Avg. growth/yr (12Y) 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.
−1.9%
Revenue +11.0%/yr
FY21 HK$62.7M
FY22 HK$75.5M
FY23 HK$54.4M
FY24 HK$70.0M
FY25 HK$95.2M
Net income
FY21 −HK$3.0M
FY22 −HK$3.8M
FY23 −HK$26.0M
FY24 −HK$2.4M
FY25 HK$2.7M

3626 screens 85% overvalued. Compare with Cintas Corporation →

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Cite: Fair Value Calculator (2026). "Hang Sang (Siu Po) Intl Hldg Fair Value". https://www.fairvalue-calculator.com/stock/3626

Peer Group

Specialty Business Services · 249 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 78 · Top 25%
Fair Value upside −85% · Bottom 25%
Return on equity (TTM) 9% · Above median
Return on assets 8% · Top 25%
Net margin (TTM) 3% · Below median
Operating margin (TTM) 7% · Above median
Revenue growth 2% · Below median
Dividend yield (TTM) 6.4% · Top 25%

Valuation Multiples vs Specialty Business Services median · lower = cheaper

P/E (TTM) 170.0× · Pricier than 75% of peers
P/B 13.88× · Pricier than 75% of peers
P/S (TTM) 3.25× · Pricier than 75% of peers
P/FCF 4.3× · Cheaper than median
EV/EBITDA 32.4× · Pricier 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 0 · sector 26
FUTURE 11 · sector 25
PAST 36 · sector 34
HEALTH 0 · sector 90
DIVIDEND 100 · sector 52

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 Specialty Business Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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Cintas Corporation CTAS $205.28 $95.19 -54%
RELX PLC RELX $34.55 $32.24 -7%
Thomson Reuters Corporation TRI C$142.85 C$70.40 -51%
Copart, Inc CPRT $28.99 $28.59 -1%
Global Payments Inc GPN $88.53 $68.98 -22%
RB Global, Inc RBA C$120.52 C$49.14 -59%
Brambles Limited BXB A$19.89 A$12.28 -38%
UL Solutions Inc ULS $76.68 $33.62 -56%
Aramark ARMK $60.35 $13.18 -78%
ISS A/S ISS kr 288.20 kr 251.13 -13%

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Frequently asked questions

Is Hang Sang (Siu Po) Intl Hldg (3626) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.2500 versus a price of HK$1.70, about −85% (overvalued).
What is the fair value of 3626?
Our model-based fair value for Hang Sang (Siu Po) Intl Hldg is HK$0.2500 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$1.70.
What is the quality score of 3626?
Hang Sang (Siu Po) Intl Hldg has a Quality Score of 78/100. 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 Hang Sang (Siu Po) Intl Hldg (3626)?
Hang Sang (Siu Po) Intl Hldg reported trailing-twelve-month revenue of about HK$96.1M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 3626?
The net profit margin of Hang Sang (Siu Po) Intl Hldg is about 2.9%, meaning it keeps roughly 2.9% 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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