Midea Real Estate Holding Ltd (3990) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of Midea Real Estate Holding Ltd HK$5.70, price HK$2.37, upside +141.0%, quality 71 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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Midea Real Estate Holding Ltd
3990 · HKClearly undervaluedStrong Fair Value upside, but quality is only moderate.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range HK$2.23 – HK$11.81 · fair‑value band HK$4.22 – HK$7.06 · the HK$2.37 price screens below the HK$5.70 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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Company profile
Midea Real Estate Holding Limited, an investment holding company, provides property management services in the People's Republic of China. The company operates through Project Management Services Business; Property Management Services Business; Asset Operation Business; and Real Estate Technology Business.
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Midea Real Estate Holding Limited, an investment holding company, provides property management services in the People's Republic of China. The company operates through Project Management Services Business; Property Management Services Business; Asset Operation Business; and Real Estate Technology Business. It offers project management services primarily to property owners, such as project planning, design coordination, and construction supervision, as well as sales and marketing support; property management and value-added services, including consultancy services, cleaning, greening, repair and maintenance services, sales of goods, and leasing agency services for unsold parking spaces and properties for residential, commercial, and other types of properties; and community living services and brokerage services. The company also engages in designing, constructing, operating, or selling commercial properties and industrial parks; delivering commercial leasing and operational solutions; and manufacturing and sale of precast concrete, modular integrated construction, and other industrial components and materials. In addition, it provides intelligent space solutions comprising equipment and product procurement, and customized installation. The company was founded in 2004 and is headquartered in Foshan, the People's Republic of China. Midea Real Estate Holding Limited operates as a subsidiary of Midea Development Holding (BVI) Limited.
Stock analysis
Midea Real Estate Holding Ltd (3990) currently trades at HK$2.37, while our model-based Fair Value estimate is HK$5.70, implying the stock looks roughly 58.5% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of HK$10.13 per share, and 16 of the 16 models we run sit above the HK$2.37 price.
Bear case: the Asset-Based group reads lowest at HK$2.68, and 0 of the 16 models stay below the price. Evidence for this calculation is low.
Scenario range: HK$4.22 (bear) to HK$7.06 (bull), the price of HK$2.37 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 71/100 (solid quality), in the Real Estate sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Midea Real Estate Holding Ltd reported revenue of 4.1B CNY in FY2025 versus 73.7B CNY in FY2021, a compound −51.3%/yr. Reported net income was 559M CNY in FY2025, compounding −37.8%/yr from FY2021.
Key figures
Market cap HK$3.9B (≈ $496M) · P/E ratio 5.1 · P/S ratio 0.69 · EPS (TTM) HK$0.4646 · Dividend yield 12.9% · Net margin 13.5% · Return on equity 11.4% · Return on assets (EBIT) 4.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 52% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −16% fair-value upside, at 141%, 3990 screens cheaper than that median.
Fair Value models
All 16 models by family
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Set up alert →Quality Score breakdown
Of which business quality 70 · Market factors (momentum, volatility) 21
Revenue & earnings trend
Growth Forecast
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Compare Midea Real Estate Holding Ltd with another stock
Price, fair value, quality and upside side by side.
Peer Groupⓘ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.Real Estate - Development · 575 stocks
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Real Estate sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Real Estate
- Undervalued stocks: Hong Kong Stocks
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Sun Hung Kai Properties Limited 0016 | HK$107.10 | HK$155.14 | +45% |
| CK Asset Holdings 1113 | HK$46.00 | HK$71.49 | +55% |
| Hongkong Land Holdings H78 | $8.57 | $1.52 | −82% |
| DLF Limited DLF | ₹683.00 | ₹167.48 | −75% |
| China Overseas Land & Investment Limited 0688 | HK$12.42 | HK$22.33 | +80% |
| Lodha Developers Limited LODHA | ₹1,165 | ₹274.14 | −76% |
| Poly Developments and Holdings 600048 | ¥5.56 | ¥5.87 | +6% |
| China Merchants Shekou Industrial Zone Holdings 001979 | ¥7.18 | ¥6.04 | −16% |
| The Wharf (Holdings) Limited 0004 | HK$19.39 | HK$8.31 | −57% |
| CTP N.V CTPNV | €12.90 | €10.46 | −19% |
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Key figures of Midea Real Estate Holding Ltd
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