3800 (3800) Fair Value & Analysis

Technology · Market cap HK$22.1B

3 3800 3800 · HK

PriceHK$0.6900

Fair ValueHK$0.9400

Upside+36.2%

Quality37/100

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Evidence: Low Range HK$0.6700 – HK$1.22

Fair value as of: Jul 2, 2026

From 4 valuation models · updated today

Share price −14.8% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$0.6700 – HK$1.47 · fair‑value band HK$0.6700 – HK$1.22 · the HK$0.6900 price screens below the HK$0.9400 fair value. As of Jul 2, 2026.

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Analysis

3800 (3800) currently trades at HK$0.6900, while our model-based Fair Value estimate is HK$0.9400 — implying the stock looks roughly 36.2% undervalued today. We read business quality at 37/100 (below-average quality), in the Technology 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: low) — always confirm before acting.

Over the trailing twelve months, 3800 generated revenue of HK$14.4B at a net margin of -19.9%. Revenue grew 39.4% year over year. It earns a return on equity of -6.8%. Net debt stands at HK$4.6B. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$14.4B

Revenue growth (YoY) +39.4%

Net margin -19.9%

Return on equity -6.8%

Free cash flow −HK$5.2B FY2025

Operating margin 1.2%

More key figures

EPS (TTM) HK$-0.0600

EPS growth (YoY) -19.4%

Net debt HK$4.6B FY2025

Figures from reported company fundamentals (EODHD) · as of Jul 2, 2026. TTM = trailing twelve months.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

3800 reported revenue of HK$14.4B in FY2025 versus HK$16.9B in FY2021, a compound −3.8%/yr. Reported net income was −HK$2.9B in FY2025.

Revenue −3.8%/yr

FY21 HK$16.9B

FY22 HK$35.9B

FY23 HK$33.7B

FY24 HK$15.1B

FY25 HK$14.4B

Net income

FY21 HK$5.1B

FY22 HK$16.0B

FY23 HK$2.5B

FY24 −HK$4.8B

FY25 −HK$2.9B

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Frequently asked questions

Is 3800 (3800) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$0.9400 versus a price of HK$0.6900 — about +36% (undervalued). Model-based estimate, not financial advice.

What is the fair value of 3800?

Our model-based fair value for 3800 is HK$0.9400 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$0.6900.

What is the quality score of 3800?

3800 has a Quality Score of 37/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 3800 (3800)?

3800 reported trailing-twelve-month revenue of about HK$14.4B (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 3800?

The net profit margin of 3800 is about -19.9%, meaning it is currently running at a net loss. 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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.