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New Hope Service Holdings Ltd (3658) Fair Value & Analysis

Real Estate · HK · Market cap HK$1.5B

NH New Hope Service Holdings Ltd 3658 · HK
PriceHK$1.88
Fair ValueHK$4.64
Upside+146.8%
Quality70/100
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Healthy Growth
Solidly profitable · 14.0% net margin
Low debt · generates free cash flow
9.89% dividend yield
Ranks above peers (12/14)
Moderate moat 61/100
Evidence: Medium Range HK$3.51 – HK$5.76 Share as image

Fair value as of: Aug 13, 2026

From 16 valuation models · updated 4 days ago

Fair value updated Aug 13, 2026, revised from HK$4.65 to HK$4.64 (−0.2%) since Aug 6, 2026. Share price +2.7% over the past month.

A solid business, screening 147% undervalued on our models.

What matters now

  • The rarer combination: high quality (70/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (HK$3.51). The market is more pessimistic than our downside scenario.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

HK$2.57 HK$0.5711 Fair Value HK$4.64 May 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$0.5711 – HK$2.57 · fair‑value band HK$3.51 – HK$5.76 · the HK$1.88 price screens below the HK$4.64 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

New Hope Service Holdings Ltd (3658) currently trades at HK$1.88, while our model-based Fair Value estimate is HK$4.64, implying the stock looks roughly 146.8% undervalued today. The Quality Score stands at 70/100 (solid quality), in the Real Estate 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, New Hope Service Holdings Ltd generated revenue of HK$1.5B at a net margin of 14.0%. Revenue grew 3.7% year over year. It earns a return on equity of 17.3%. The balance sheet holds a net cash position of HK$929M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$3.51 (bear case) to HK$5.76 (bull case); at HK$1.88, 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 share trades about 13% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 15% fair-value upside, at 147%, 3658 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$3.76 HK$5.71 HK$9.01 80
Residual Income HK$1.58 HK$1.93 HK$3.60 76
Rev-Margin DCF HK$4.11 HK$6.96 HK$11.20 74
All 16 models by family
DCF Models
FCF DCF HK$3.90 HK$5.43 HK$9.43 38
5Y Revenue Exit HK$4.11 HK$6.68 HK$11.62 39
5Y EBITDA Exit HK$5.02 HK$8.67 HK$15.23 41
10Y Revenue Exit HK$3.90 HK$6.72 HK$10.21 36
10Y EBITDA Exit HK$4.58 HK$8.29 HK$15.06 37
Dividend Discount
Gordon GGM HK$1.41 HK$2.54 HK$3.50 70
DDM Multi-Stage HK$1.41 HK$2.32 HK$2.72 61
Multiples
P/S Multiple HK$3.38 HK$4.51 HK$5.64 58
P/B Multiple HK$2.43 HK$3.24 HK$4.05 55
EV/EBIT HK$6.53 HK$8.31 HK$10.09 53
EV/EBITDA HK$5.76 HK$7.29 HK$8.82 54
EV/Revenue HK$4.13 HK$5.39 HK$6.66 43
Asset-Based
NCAV (Graham) HK$0.8100 HK$1.09 HK$1.62 50
Growth DCF
Growth DCF HK$3.76 HK$5.71 HK$9.01 80
Rev-Margin DCF HK$4.11 HK$6.96 HK$11.20 74
Economic Profit
Residual Income HK$1.58 HK$1.93 HK$3.60 76

Widest divergence: DCF Models (HK$6.72) versus Asset-Based (HK$1.09). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$1.5B
Revenue growth (YoY) +3.7%
Net margin 14.0%
Return on equity 17.3%
Free cash flow HK$174M FY2025
P/E ratio 5.9 as of Jul 2, 2026
More key figures
Operating margin 15.5%
EPS (TTM) HK$0.1500
Dividend yield 9.9%
EPS growth (YoY) -12.4%
Net cash HK$929M FY2025

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

Quality Score breakdown

Overall quality 70/100

Of which business quality 69 · Market factors (momentum, volatility) 52

Profitability 56
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 55
Earnings quality: real cash, not paper profit
Fin. Strength 99
Balance sheet, leverage, solvency risk
Investment 81
Disciplined investing over empire-building
Low Volatility 75
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 45
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

New Hope Service Holdings Limited provides property management services in the People's Republic of China. The company operates through the Property Management Services, Lifestyle Services, Commercial Operational Services, and Value-Added Services to Non-Property Owners.

Full company description

New Hope Service Holdings Limited provides property management services in the People's Republic of China. The company operates through the Property Management Services, Lifestyle Services, Commercial Operational Services, and Value-Added Services to Non-Property Owners. It offers property management services to residential properties, commercial properties, and other types of non-residential properties; community operation services and community asset management services; online and offline retail services, catering services, marketing consultancy services, and community space operational services. The company also provides market research and positioning, tenant sourcing services, commercial operation services, and commercial properties leasing; value-added services to non-property owners, including preliminary planning, design consultancy, pre-delivery services, and sales office management. New Hope Service Holdings Limited was incorporated in 2020 and is headquartered in Chengdu, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

New Hope Service Holdings Ltd reported revenue of HK$1.5B in FY2025 versus HK$925M in FY2021, a compound +13.6%/yr. Reported net income was HK$216M in FY2025, compounding +6.8%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
HK$1.5B
Latest YoY
+4.0%
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.
+10.6%
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.
+21.2%
Avg. growth/yr (7Y) 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.
+29.1%
Revenue +13.6%/yr
FY21 HK$925M
FY22 HK$1.1B
FY23 HK$1.3B
FY24 HK$1.5B
FY25 HK$1.5B
Net income +6.8%/yr
FY21 HK$166M
FY22 HK$203M
FY23 HK$215M
FY24 HK$227M
FY25 HK$216M

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Cite: Fair Value Calculator (2026). "New Hope Service Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/3658

Peer Group

Real Estate Services · 529 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 70 · Top 25%
Fair Value upside +147% · Top 25%
Return on equity (TTM) 17% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 14% · Above median
Operating margin (TTM) 16% · Below median
Revenue growth 4% · Above median
Dividend yield (TTM) 9.9% · Top 25%

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 5.9× · Cheaper than 75% of peers
P/B 1.12× · Pricier than median
P/S (TTM) 0.96× · Cheaper than median
P/FCF 1.1× · Cheaper than median
EV/EBITDA 1.7× · 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 34
FUTURE 19 · sector 10
PAST 69 · sector 16
HEALTH 100 · sector 85
DIVIDEND 100 · sector 59

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

Stock Price Fair Value vs Fair Value
Plaza S.A MALLPLAZA 3,989 CLP 4,571 CLP +15%
PT Solusi Tunas Pratama Tbk SUPR 43,850 IDR 15,049 IDR -66%
Cencosud Shopping S.A CENCOMALLS 2,412 CLP 2,976 CLP +23%
PT Sarana Menara Nusantara Tbk. owns and TOWR 392.00 IDR 1,012 IDR +158%
PT Metropolitan Kentjana Tbk MKPI 22,000 IDR 19,160 IDR -13%
PT Bangun Kosambi Sukses Tbk, CBDK 3,610 IDR 3,464 IDR -4%
IRSA Inversiones y Representaciones Sociedad Anónima, IRSA 2,495 ARS 2,990 ARS +20%
PT Plaza Indonesia Realty Tbk PLIN 2,510 IDR 2,698 IDR +7%
PT MNC Tourism Indonesia Tbk, KPIG 74.00 IDR 122.12 IDR +65%
PT Indonesian Paradise Property Tbk INPP 770.00 IDR 291.52 IDR -62%

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Frequently asked questions

Is New Hope Service Holdings Ltd (3658) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$4.64 versus a price of HK$1.88, about +147% (undervalued).
What is the fair value of 3658?
Our model-based fair value for New Hope Service Holdings Ltd is HK$4.64 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$1.88.
What is the quality score of 3658?
New Hope Service Holdings Ltd has a Quality Score of 70/100. 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 New Hope Service Holdings Ltd (3658)?
New Hope Service Holdings Ltd reported trailing-twelve-month revenue of about HK$1.5B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 3658?
The net profit margin of New Hope Service Holdings Ltd is about 14.0%, meaning it keeps roughly 14.0% of revenue as net income. Based on the latest reported figures.
Does New Hope Service Holdings Ltd pay a dividend?
New Hope Service Holdings Ltd currently shows a dividend yield of about 9.89% 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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