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Zhaoke Ophthalmology Limited (6622) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Zhaoke Ophthalmology Limited HK$2.16, price HK$2.55, upside -15.3%, quality 38 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Healthcare · HK

ZO Thin data Sep 24, 2026

Zhaoke Ophthalmology Limited

6622 · HK

Weak valuationQuality is weak on top of the rich price.

!Fair value HK$2.16 · Overvalued (−15%)
!Quality 38/100
!Weak Growth (revenue YoY −55.1 %/yr)
!Low debt · negative free cash flow
✓Ranks above peers (5/8)
!Narrow moat 0/100
!Evidence only low, so the estimate is less certain
!Weak on valuation: 13 out of 100

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

HK$13.90 HK$1.21 Fair Value HK$2.16 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range HK$1.21 – HK$13.90 · fair‑value band HK$1.43 – HK$2.70 · the HK$2.55 price screens above the HK$2.16 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Zhaoke Ophthalmology Limited, an ophthalmic pharmaceutical company, engages in the research, development, manufacture, and commercialization of therapies that address unmet medical needs in the People's Republic of China, South Korea, Hong Kong, and internationally.

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Zhaoke Ophthalmology Limited, an ophthalmic pharmaceutical company, engages in the research, development, manufacture, and commercialization of therapies that address unmet medical needs in the People's Republic of China, South Korea, Hong Kong, and internationally. It develops various drugs that cover ophthalmic indications, including dry eye disease, myopia, presbyopia, wet age-related macular degeneration, diabetic macular edema, and glaucoma. The company was formerly known as China Ophthalmology Focus Limited. Zhaoke Ophthalmology Limited was incorporated in 2017 and is headquartered in Guangzhou, the People's Republic of China.

Stock analysis

Zhaoke Ophthalmology Limited (6622) currently trades at HK$2.55, while our model-based Fair Value estimate is HK$2.16, implying the stock looks roughly 18.0% overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: HK$1.43 (bear) to HK$2.70 (bull), the price of HK$2.55 sits inside 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 38/100 (below-average quality), in the Healthcare sector.

Weak Growth: Revenue growth is weak, negative or inconsistent.

Zhaoke Ophthalmology Limited reported revenue of 31.1M CNY in FY2025 versus 0 CNY in FY2021. Reported net income was −204M CNY in FY2025.

Key figures

Market cap HK$1.4B (≈ $178M) · P/S ratio 44.2 · EPS (TTM) HK$−0.2100 · Return on equity −12.0% · Return on assets (EBIT) −13.8% · Operating margin −708% · Revenue (TTM) HK$32.0M · Revenue growth (YoY) −17.3%.

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 32% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −5% fair-value upside, at −15%, 6622 screens richer than that median.

Fair Value models

Bear HK$1.43 Fair Value HK$2.16 Bull HK$2.70
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
NCAV (Graham) HK$1.44 HK$1.93 HK$2.88 54
All 1 models by family
Asset-Based
NCAV (Graham) HK$1.44 HK$1.93 HK$2.88 54

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Quality Score breakdown

Overall quality 38/100

Of which business quality 40 · Market factors (momentum, volatility) 27

Profitability 0
Margins and returns on capital today
Quality Growth 19
Are margins and returns improving?
Cashflow 17
Earnings quality: real cash, not paper profit
Fin. Strength 73
Balance sheet, leverage, solvency risk
Investment 75
Disciplined investing over empire-building
Low Volatility 47
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 80
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 0/100
Revenue growth is weak, negative or inconsistent.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

6622 screens 18% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

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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.Biotechnology · 649 stocks

Beats the industry median on 3/6 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 40 · Below median
Fair Value upside −12% · Above median
Profitability
Return on assets −8% · Above median
Growth and dividend
Revenue growth −17% · Bottom 25%

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 0.11× · Cheapest 25%
P/S (TTM) 5.38× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)13 · sector 0
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)100 · sector 97
DIVIDEND (yield)0 · sector 23

Context: sector, industry, market

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

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $516.34 $567.97 +10%
Regeneron Pharmaceuticals, Inc REGN $801.82 $1,252 +56%
argenx SE ARGX $963.79 $918.60 −5%
Samsung Biologics Co 207940 1,366,000 KRW 1,502,600 KRW +10%
CSL Limited CSL A$179.12 A$197.03 +10%
Alnylam Pharmaceuticals, Inc ALNY $251.65 $218.36 −13%
Royalty Pharma plc RPRX $58.52 $24.22 −59%
BeOne Medicines AG 6160 HK$218.20 HK$169.72 −22%
Celltrion, Inc 068270 177,400 KRW 74,519 KRW −58%
BioNTech SE BNTX $100.87 $63.62 −37%

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Cite: Fair Value Calculator (2026). "Zhaoke Ophthalmology Limited Fair Value". https://www.fairvalue-calculator.com/stock/6622

Frequently asked questions

Is Zhaoke Ophthalmology Limited (6622) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of HK$2.16 versus a price of HK$2.55, about −15% upside (overvalued).
What is the fair value of 6622?
Our model-based fair value for Zhaoke Ophthalmology Limited is HK$2.16 (as of Sep 24, 2026), built from audited fundamentals. The current price: HK$2.55.
What is the quality score of 6622?
Zhaoke Ophthalmology Limited has a Quality Score of 38/100. 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 price target for Zhaoke Ophthalmology Limited (6622)?
Our model-based price target is the fair value of HK$2.16 (as of Sep 24, 2026) from 1 valuation models. Cautious scenario HK$1.43, optimistic scenario HK$2.70. It is a calculation from audited fundamentals, not an analyst target.
What is the Zhaoke Ophthalmology Limited stock forecast for 2026?
Our models put fair value at HK$2.16, about −15% upside versus a price of HK$2.55 (overvalued). Cautious scenario HK$1.43, optimistic scenario HK$2.70. The calculation is refreshed regularly with new filings.
What is the revenue of Zhaoke Ophthalmology Limited (6622)?
Zhaoke Ophthalmology Limited reported trailing-twelve-month revenue of about HK$32.0M (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Zhaoke Ophthalmology Limited (6622)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Zhaoke Ophthalmology Limited it is HK$2.16 per share (as of Sep 24, 2026), against a price of HK$2.55. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Zhaoke Ophthalmology Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 6622 trades above its calculated fair value: price HK$2.55, fair value HK$2.16, a gap of about −15% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 6622?
No. The price is what the market pays today (HK$2.55); the fair value is what the company's own numbers justify (HK$2.16). For Zhaoke Ophthalmology Limited the two are HK$0.3900 per share apart. That gap is exactly why we show both numbers side by side.
How much is Zhaoke Ophthalmology Limited worth?
The market values Zhaoke Ophthalmology Limited at about HK$1.4B (market capitalisation, as of Sep 24, 2026). Per share that is HK$2.55; our models calculate a fair value of HK$2.16 per share.
What do the bullish and bearish scenarios say about 6622?
Our models span a range for Zhaoke Ophthalmology Limited: cautious scenario HK$1.43, base HK$2.16, optimistic HK$2.70 per share (as of Sep 24, 2026, price HK$2.55). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Zhaoke Ophthalmology Limited (6622)?
Balance-sheet figures for Zhaoke Ophthalmology Limited (as of Sep 24, 2026): return on equity −12.0%. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is 6622 from its 52-week high?
Zhaoke Ophthalmology Limited trades at HK$2.55, about 32% below its 52-week high of HK$3.77 and 6% above the low of HK$2.40 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of HK$2.16 is for.
Which stocks are comparable to Zhaoke Ophthalmology Limited?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, argenx SE, Samsung Biologics Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Zhaoke Ophthalmology Limited stock attractive at the current price?
The data as of Sep 24, 2026: price HK$2.55, calculated fair value HK$2.16 (−15%), Quality Score 38/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 6622 calculated?
We run Zhaoke Ophthalmology Limited through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of HK$2.16, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0 % above its aggregate fair value. Zhaoke Ophthalmology Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Zhaoke Ophthalmology Limited (6622)?
The closing price on Sep 24, 2026 was HK$2.55. Our model-based fair value is HK$2.16, about −15% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Zhaoke Ophthalmology Limited right now?
Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range (HK$1.43 to HK$2.70) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Zhaoke Ophthalmology Limited

How large is the market capitalisation of Zhaoke Ophthalmology Limited (6622)?
The market capitalisation of Zhaoke Ophthalmology Limited is HK$1.4B (≈ $178M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Zhaoke Ophthalmology Limited (6622)?
The price-to-sales ratio of Zhaoke Ophthalmology Limited is 44.2 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Zhaoke Ophthalmology Limited (6622)?
Earnings per share at Zhaoke Ophthalmology Limited are HK$−0.2100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Zhaoke Ophthalmology Limited (6622)?
The return on equity (ROE) of Zhaoke Ophthalmology Limited is −12.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Zhaoke Ophthalmology Limited (6622)?
On an EBIT basis the return on assets of Zhaoke Ophthalmology Limited is −13.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Zhaoke Ophthalmology Limited (6622)?
The operating margin of Zhaoke Ophthalmology Limited is −708% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Zhaoke Ophthalmology Limited (6622)?
Revenue at Zhaoke Ophthalmology Limited is growing −17.3% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Zhaoke Ophthalmology Limited (6622) generate?
The free cash flow of Zhaoke Ophthalmology Limited is −HK$265M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Zhaoke Ophthalmology Limited (6622) hold?
Zhaoke Ophthalmology Limited holds more cash than debt, HK$1.0B net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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