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Feishang Non-metal Materials (8331) fair value: what the stock is really worth

As of Sep 30, 2026: fair value of Feishang Non-metal Materials HK$0.30, price HK$0.20, upside +48.5%, quality 29 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
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Basic Materials · HK · ISIN KYG7308C1188

FN Thin data Sep 27, 2026

Feishang Non-metal Materials

8331 · HK

SpeculativeUpside exists, but weak quality makes the signal speculative.

✓Fair value HK$0.3000 · Undervalued (+48.5%)
!Quality 29/100
!Weak Growth (revenue 5y −1.9 %/yr)
!Loss-making · -17.3% net margin (TTM)
!negative free cash flow
!Trails peers (3/9)
!Narrow moat 0/100
!Evidence only low, so the estimate is less certain

What runs behind every stock

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

Price vs Fair Value

HK$1.35 HK$0.1070 Fair Value HK$0.3000 Jun 2020 Sep 2026

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$0.1070 – HK$1.35 · fair‑value band HK$0.2000 – HK$0.3800 · the HK$0.2020 price screens below the HK$0.3000 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

P.B. Group Limited, an investment holding company, engages in the bentonite mining, and production and sale of drilling mud and pelletizing clay in the People's Republic of China. It operates through the Bentonite Mining Operation, Financial Service Business, and Property Investment Business segments.

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P.B. Group Limited, an investment holding company, engages in the bentonite mining, and production and sale of drilling mud and pelletizing clay in the People's Republic of China. It operates through the Bentonite Mining Operation, Financial Service Business, and Property Investment Business segments. The company holds a 100% interest in the Huanghu Bentonite mine, an open pit mine with a permitted mining area of 2.1311 square kilometers located in Anhui province. It is also involved in the financial service business, which provides wealth management, money lending, financial guarantee, and financial services; securities trading and property investment business; operation of a charitable institution; rental business; and wholesale of personal care products. In addition, the company offers insurance brokerage services, as well as personal and corporate loans. The company was formerly known as HangKan Group Limited and changed its name to P.B. Group Limited in February 2021. P.B. Group Limited was incorporated in 2015 and is headquartered in Wuhu, the People's Republic of China.

Stock analysis

Feishang Non-metal Materials (8331) currently trades at HK$0.2020, while our model-based Fair Value estimate is HK$0.3000, implying the stock looks roughly 32.7% undervalued 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$0.2000 (bear) to HK$0.3800 (bull), the price of HK$0.2020 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 29/100 (below-average quality), in the Basic Materials sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Feishang Non-metal Materials reported revenue of HK$52.9M in FY2024 versus HK$55.7M in FY2020, a compound −1.3%/yr. Reported net income was −HK$7.5M in FY2024.

Key figures

Market cap HK$40.6M (≈ $5.2M) · P/S ratio 0.80 · EPS (TTM) HK$−0.0300 · Net margin −14.2% · Return on equity −7.9% · Return on assets (EBIT) 0.3% · Operating margin −22.4% · Revenue (TTM) HK$51.0M.

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 56% below its 52-week high and 20% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at 10% fair-value upside, at 49%, 8331 screens cheaper than that median.

Fair Value models

Bear HK$0.2000 Fair Value HK$0.3000 Bull HK$0.3800
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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. 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$0.3500 HK$0.4700 HK$0.7000 51
All 1 models by family
Asset-Based
NCAV (Graham) HK$0.3500 HK$0.4700 HK$0.7000 51

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Quality Score breakdown

Overall quality 29/100

Of which business quality 32 · Market factors (momentum, volatility) 35

Profitability 9
Margins and returns on capital today
Quality Growth 33
Are margins and returns improving?
Cashflow 9
Earnings quality: real cash, not paper profit
Fin. Strength 53
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 41
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 36
Distance to the 52-week high (market factor)
Net Issuance 40
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 is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−18.3%
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.
−9.3%
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.
−1.9%
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.
+5.3%
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.
15.5% (2019) → −17.7% (2024)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2024 is a loss year, no rate is defined from a loss
not computed

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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.Other Industrial Metals & Mining · 444 stocks

Beats the industry median on 3/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 32 · Below median
Fair Value upside +48.5% · Top 25%
Profitability
Return on assets −4.5% · Below median
Net margin (TTM) −17.3% · Bottom 25%
Operating margin (TTM) −22.4% · Bottom 25%
Growth and dividend
Revenue growth −6.6% · Below median

Valuation Multiplesvs Other Industrial Metals & Mining median · lower = cheaper

P/B 0.05× · Cheapest 25%
P/S (TTM) 0.10× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)98 · sector 1
FUTURE (revenue growth)0 · sector 46
PAST (return on equity)0 · sector 0
HEALTH (low debt)0 · sector 96
DIVIDEND (yield)0 · sector 31

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 Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Saudi Arabian Mining Company 1211 61.10 SAR 67.21 SAR +10%
CMOC Group 603993 ¥17.08 ¥19.15 +12%
Hindustan Zinc Limited HINDZINC ₹588.95 ₹647.85 +10%
China Tungsten And Hightech Materials Co 000657 ¥57.18 ¥29.56 −48%
Korea Zinc Company 010130 1,116,000 KRW 646,063 KRW −42%
Boliden AB BOL kr 521.00 kr 464.45 −11%
Western Mining Co 601168 ¥35.19 ¥38.71 +10%
Ivanhoe Mines Ltd IVN C$12.06 C$4.46 −63%
Xiamen Tungsten Co 600549 ¥46.90 ¥23.62 −50%
Vedanta Limited VEDL ₹266.35 ₹655.92 +146%

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Cite: Fair Value Calculator (2026). "Feishang Non-metal Materials Fair Value". https://www.fairvalue-calculator.com/stock/8331

Frequently asked questions

Is Feishang Non-metal Materials (8331) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$0.3000 versus a price of HK$0.2020, about +49% upside (undervalued).
What is the fair value of 8331?
Our model-based fair value for Feishang Non-metal Materials is HK$0.3000 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$0.2020.
What is the quality score of 8331?
Feishang Non-metal Materials has a Quality Score of 29/100. 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 Feishang Non-metal Materials (8331)?
Our model-based price target is the fair value of HK$0.3000 (as of Sep 27, 2026) from 1 valuation models. Cautious scenario HK$0.2000, optimistic scenario HK$0.3800. It is a calculation from audited fundamentals, not an analyst target.
What is the Feishang Non-metal Materials stock forecast for 2026?
Our models put fair value at HK$0.3000, about +49% upside versus a price of HK$0.2020 (undervalued). Cautious scenario HK$0.2000, optimistic scenario HK$0.3800. The calculation is refreshed regularly with new filings.
What is the revenue of Feishang Non-metal Materials (8331)?
Feishang Non-metal Materials reported trailing-twelve-month revenue of about HK$51.0M (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of Feishang Non-metal Materials (8331)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Feishang Non-metal Materials it is HK$0.3000 per share (as of Sep 27, 2026), against a price of HK$0.2020. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Feishang Non-metal Materials stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 8331 trades below its calculated fair value: price HK$0.2020, fair value HK$0.3000, a gap of about +49% (undervalued). 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 8331?
No. The price is what the market pays today (HK$0.2020); the fair value is what the company's own numbers justify (HK$0.3000). For Feishang Non-metal Materials the two are HK$0.0980 per share apart. That gap is exactly why we show both numbers side by side.
How much is Feishang Non-metal Materials worth?
The market values Feishang Non-metal Materials at about HK$40.6M (market capitalisation, as of Sep 27, 2026). Per share that is HK$0.2020; our models calculate a fair value of HK$0.3000 per share.
What do the bullish and bearish scenarios say about 8331?
Our models span a range for Feishang Non-metal Materials: cautious scenario HK$0.2000, base HK$0.3000, optimistic HK$0.3800 per share (as of Sep 27, 2026, price HK$0.2020). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Feishang Non-metal Materials (8331)?
Balance-sheet figures for Feishang Non-metal Materials (as of Sep 27, 2026): return on equity −7.9%. They feed the Quality Score of 29/100, which measures business quality independently of the share price.
How far is 8331 from its 52-week high?
Feishang Non-metal Materials trades at HK$0.2020, about 56% below its 52-week high of HK$0.4550 and 20% above the low of HK$0.1680 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.3000 is for.
Which stocks are comparable to Feishang Non-metal Materials?
From the same area (Basic Materials) we also value Saudi Arabian Mining Company, CMOC Group, Hindustan Zinc Limited, China Tungsten And Hightech Materials 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 Feishang Non-metal Materials stock attractive at the current price?
The data as of Sep 27, 2026: price HK$0.2020, calculated fair value HK$0.3000 (+49%), Quality Score 29/100, 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 8331 calculated?
We run Feishang Non-metal Materials 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$0.3000, 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 14.7 % above its aggregate fair value. Feishang Non-metal Materials currently trades 33 % below its own fair value, and the market average says nothing about that. 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 Feishang Non-metal Materials (8331)?
The closing price on Sep 30, 2026 was HK$0.2020. Our model-based fair value is HK$0.3000, about +49% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Feishang Non-metal Materials right now?
The large discount to fair value meets weak quality (29/100). That raises the risk this is a value trap rather than a bargain. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (HK$0.2000 to HK$0.3800) leaves room in how you read the outcome.

Key figures of Feishang Non-metal Materials

How large is the market capitalisation of Feishang Non-metal Materials (8331)?
The market capitalisation of Feishang Non-metal Materials is HK$40.6M (≈ $5.2M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Feishang Non-metal Materials (8331)?
The price-to-sales ratio of Feishang Non-metal Materials is 0.80 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Feishang Non-metal Materials (8331)?
Earnings per share at Feishang Non-metal Materials are HK$−0.0300. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Feishang Non-metal Materials (8331)?
The net margin of Feishang Non-metal Materials is −14.2% (fiscal year 2024). 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 Feishang Non-metal Materials (8331)?
The return on equity (ROE) of Feishang Non-metal Materials is −7.9% (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 Feishang Non-metal Materials (8331)?
On an EBIT basis the return on assets of Feishang Non-metal Materials is 0.3% (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 Feishang Non-metal Materials (8331)?
The operating margin of Feishang Non-metal Materials is −22.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Feishang Non-metal Materials (8331)?
Revenue at Feishang Non-metal Materials is growing −6.6% versus a year earlier (3y avg −9.3%). 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 Feishang Non-metal Materials (8331)?
Earnings per share at Feishang Non-metal Materials are growing −70.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Feishang Non-metal Materials (8331) generate?
The free cash flow of Feishang Non-metal Materials is −HK$22.1M (fiscal year 2024). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Feishang Non-metal Materials (8331) hold?
Feishang Non-metal Materials holds more cash than debt, HK$6.0M net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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