8203 (8203) Fair Value & Analysis

Energy · Market cap HK$88.1M

8 8203 8203 · HK

PriceHK$0.1500

Fair ValueHK$0.3700

Upside+146.7%

Quality40/100

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Evidence: Medium Range HK$0.2800 – HK$0.4700

Fair value as of: Jul 2, 2026

From 11 valuation models · updated today

Share price −16.7% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$0.1400 – HK$0.3450 · fair‑value band HK$0.2800 – HK$0.4700 · the HK$0.1500 price screens below the HK$0.3700 fair value. As of Jul 2, 2026.

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Analysis

8203 (8203) currently trades at HK$0.1500, while our model-based Fair Value estimate is HK$0.3700 — implying the stock looks roughly 146.7% undervalued today. We read business quality at 40/100 (below-average quality), in the Energy 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, 8203 generated revenue of HK$970M at a net margin of -4.9%. Revenue grew 4.7% year over year. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$970M

Revenue growth (YoY) +4.7%

Net margin -4.9%

Return on equity -490%

Free cash flow HK$21.0M FY2025

Operating margin 0.2%

More key figures

EPS (TTM) HK$-0.0400

Net debt HK$267K FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

8203 reported revenue of HK$970M in FY2025 versus HK$157M in FY2021, a compound +57.8%/yr. Reported net income was −HK$47.5M in FY2025.

Revenue +57.8%/yr

FY21 HK$157M

FY22 HK$267M

FY23 HK$299M

FY24 HK$1.1B

FY25 HK$970M

Net income

FY21 −HK$66.2M

FY22 −HK$15.2M

FY23 −HK$31.9M

FY24 HK$8.9M

FY25 −HK$47.5M

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Similar stocks

6 more Thermal Coal stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).

Stock	Price	Fair Value	vs Fair Value
China Shenhua Energy Company 601088	¥47.51	¥30.10	-37%
Adani Enterprises Limited ADANIENT	₹2,931	₹796.70	-73%
Shaanxi Coal Industry Company 601225	¥27.14	¥24.13	-11%
Yankuang Energy Group 600188	¥19.84	¥18.51	-7%
China Coal Energy Company 601898	¥13.73	¥22.52	+64%
Coal India Limited COALINDIA	₹472.30	₹1,206	+155%

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Frequently asked questions

Is 8203 (8203) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$0.3700 versus a price of HK$0.1500 — about +147% (undervalued). Model-based estimate, not financial advice.

What is the fair value of 8203?

Our model-based fair value for 8203 is HK$0.3700 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$0.1500.

What is the quality score of 8203?

8203 has a Quality Score of 40/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 8203 (8203)?

8203 reported trailing-twelve-month revenue of about HK$970M (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 8203?

The net profit margin of 8203 is about -4.9%, 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.