HG Semiconductor Ltd (6908) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of HG Semiconductor Ltd HK$0.27, price HK$0.32, upside -15.0%, quality 30 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
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$0.2390 – HK$8.51 · fair‑value band HK$0.1870 – HK$0.3400 · the HK$0.3200 price screens above the HK$0.2720 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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HG Semiconductor Limited, an investment holding company, engages in designing, developing, manufacturing, subcontracting, and selling of semiconductor products in the People's Republic of China. The company offers light emitting diode beads, gallium nitride (GaN) chips, and GaN components and related application products.
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HG Semiconductor Limited, an investment holding company, engages in designing, developing, manufacturing, subcontracting, and selling of semiconductor products in the People's Republic of China. The company offers light emitting diode beads, gallium nitride (GaN) chips, and GaN components and related application products. It is also involved in the research and development of charging solutions for battery system; provision of technical development, consultation, and promotional services; and research and development services. The company's products are used in consumer and automotive electronics, data centers, renewable energy, and industrial applications. It serves manufacturers of small and medium sized backlight LED modules/panels, LCD panels, and other electronics products. The company was formerly known as HongGuang Lighting Holdings Company Limited and changed its name to HG Semiconductor Limited in September 2021. HG Semiconductor Limited was founded in 2010 and is headquartered in Central, Hong Kong.
Stock analysis
HG Semiconductor Ltd (6908) currently trades at HK$0.3200, while our model-based Fair Value estimate is HK$0.2720, implying the stock looks roughly 17.6% overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 91/100, which puts the evidence level at low.
Scenario range: HK$0.1870 (bear) to HK$0.3400 (bull), the price of HK$0.3200 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 30/100 (below-average quality), in the Technology sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
HG Semiconductor Ltd reported revenue of 97.8M CNY in FY2025 versus 126M CNY in FY2021, a compound −6.2%/yr. Reported net income was −113M CNY in FY2025.
Key figures
Market cap HK$446M (≈ $56.9M) · P/S ratio 4.56 · EPS (TTM) HK$−0.0800 · Net margin −115% · Return on equity −24.8% · Return on assets (EBIT) −30.8% · Operating margin −97.8% · Revenue (TTM) 97.8M CNY.
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 53% below its 52-week high and 34% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −17% fair-value upside, at −15%, 6908 screens cheaper than that median.
Fair Value models
Bear HK$0.1870Fair Value HK$0.2720Bull HK$0.3400
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.
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 inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+29.9%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+3.8%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−4.3%
Start year 2020 (pandemic). Over 10 years: −1.9% a year
Revenue growth 11 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−1.1%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−2.9% (2020) → −169.1% (2025)
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
Price, fair value, quality and upside side by side.
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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.Semiconductors · 339 stocks
Beats the industry median on 4/8 measures
A mixed picture versus its industry peers.
Valuation
Quality Score33 · Bottom 25%
Fair Value upside−5% · Above median
Profitability
Return on assets−13% · Bottom 25%
Net margin (TTM)−115% · Bottom 25%
Operating margin (TTM)−98% · Bottom 25%
Growth and dividend
Revenue growth58% · Top 25%
Valuation Multiplesvs Semiconductors median · lower = cheaper
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Is HG Semiconductor Ltd (6908) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of HK$0.2720 versus a price of HK$0.3200, about −15% upside (overvalued).
What is the fair value of 6908?
Our model-based fair value for HG Semiconductor Ltd is HK$0.2720 (as of Sep 24, 2026), built from audited fundamentals. The current price: HK$0.3200.
What is the quality score of 6908?
HG Semiconductor Ltd has a Quality Score of 30/100. 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 HG Semiconductor Ltd (6908)?
Our model-based price target is the fair value of HK$0.2720 (as of Sep 24, 2026) from 1 valuation models. Cautious scenario HK$0.1870, optimistic scenario HK$0.3400. It is a calculation from audited fundamentals, not an analyst target.
What is the HG Semiconductor Ltd stock forecast for 2026?
Our models put fair value at HK$0.2720, about −15% upside versus a price of HK$0.3200 (overvalued). Cautious scenario HK$0.1870, optimistic scenario HK$0.3400. The calculation is refreshed regularly with new filings.
What is the revenue of HG Semiconductor Ltd (6908)?
HG Semiconductor Ltd reported trailing-twelve-month revenue of about 97.8M CNY (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of HG Semiconductor Ltd (6908)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For HG Semiconductor Ltd it is HK$0.2720 per share (as of Sep 24, 2026), against a price of HK$0.3200. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is HG Semiconductor Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 6908 trades above its calculated fair value: price HK$0.3200, fair value HK$0.2720, 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 6908?
No. The price is what the market pays today (HK$0.3200); the fair value is what the company's own numbers justify (HK$0.2720). For HG Semiconductor Ltd the two are HK$0.0480 per share apart. That gap is exactly why we show both numbers side by side.
How much is HG Semiconductor Ltd worth?
The market values HG Semiconductor Ltd at about HK$446M (market capitalisation, as of Sep 24, 2026). Per share that is HK$0.3200; our models calculate a fair value of HK$0.2720 per share.
What do the bullish and bearish scenarios say about 6908?
Our models span a range for HG Semiconductor Ltd: cautious scenario HK$0.1870, base HK$0.2720, optimistic HK$0.3400 per share (as of Sep 24, 2026, price HK$0.3200). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of HG Semiconductor Ltd (6908)?
Balance-sheet figures for HG Semiconductor Ltd (as of Sep 24, 2026): return on equity −24.8%. They feed the Quality Score of 30/100, which measures business quality independently of the share price.
How far is 6908 from its 52-week high?
HG Semiconductor Ltd trades at HK$0.3200, about 53% below its 52-week high of HK$0.6800 and 34% above the low of HK$0.2390 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.2720 is for.
Which stocks are comparable to HG Semiconductor Ltd?
From the same area (Technology) we also value NVIDIA Corporation, Taiwan Semiconductor Manufacturing Company, Broadcom Inc, SK hynix Inc, 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 HG Semiconductor Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price HK$0.3200, calculated fair value HK$0.2720 (−15%), Quality Score 30/100, 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 6908 calculated?
We run HG Semiconductor Ltd 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$0.2720, 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 13.2 % above its aggregate fair value. HG Semiconductor Ltd 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 HG Semiconductor Ltd (6908)?
The closing price on Sep 24, 2026 was HK$0.3200. Our model-based fair value is HK$0.2720, about −15% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with HG Semiconductor Ltd right now?
Weak quality (30/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range (HK$0.1870 to HK$0.3400) 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 HG Semiconductor Ltd
How large is the market capitalisation of HG Semiconductor Ltd (6908)?
The market capitalisation of HG Semiconductor Ltd is HK$446M (≈ $56.9M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of HG Semiconductor Ltd (6908)?
The price-to-sales ratio of HG Semiconductor Ltd is 4.56 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of HG Semiconductor Ltd (6908)?
Earnings per share at HG Semiconductor Ltd are HK$−0.0800. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of HG Semiconductor Ltd (6908)?
The net margin of HG Semiconductor Ltd is −115% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of HG Semiconductor Ltd (6908)?
The return on equity (ROE) of HG Semiconductor Ltd is −24.8% (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 HG Semiconductor Ltd (6908)?
On an EBIT basis the return on assets of HG Semiconductor Ltd is −30.8% (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 HG Semiconductor Ltd (6908)?
The operating margin of HG Semiconductor Ltd is −97.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at HG Semiconductor Ltd (6908)?
Revenue at HG Semiconductor Ltd is growing +57.7% versus a year earlier (3y avg +3.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at HG Semiconductor Ltd (6908)?
Earnings per share at HG Semiconductor Ltd are growing −40.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does HG Semiconductor Ltd (6908) generate?
The free cash flow of HG Semiconductor Ltd is −73.8M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does HG Semiconductor Ltd (6908) carry?
The net debt of HG Semiconductor Ltd is 1.9M CNY (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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