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Zhejiang United Investment Holdings Group Limited (8366) Fair Value & Analysis

Industrials · HK · Market cap HK$47.3M

ZU Zhejiang United Investment Holdings Group Limited 8366 · HK
PriceHK$0.0240
Fair ValueHK$0.0194
Upside-19.2%
Quality55/100
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Expensive Growth
Loss-making · -0.6% net margin
Negative equity (buybacks among others) · negative free cash flow
Trails peers (2/8)
Narrow moat 9/100
Evidence: Low Range HK$0.0194 – HK$0.0216 Share as image

Fair value as of: Aug 13, 2026

From 6 valuation models · updated 3 days ago

Fair value updated Aug 13, 2026, revised from HK$0.0187 to HK$0.0194 (+3.8%) since Aug 6, 2026. Share price +4.3% over the past month.

A solid business, but screening 19% overvalued on our models.

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What matters now

  • The price sits above even our optimistic bull case (HK$0.0216). The favourable scenario is already priced in.
  • Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.
  • The models converge in a tight band (HK$0.0194 to HK$0.0216), unusually little disagreement for a valuation.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
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Price vs Fair Value (5 years)

HK$0.2300 HK$0.0120 Fair Value HK$0.0194 Aug 2020 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range HK$0.0120 – HK$0.2300 · fair‑value band HK$0.0194 – HK$0.0216 · the HK$0.0240 price screens above the HK$0.0194 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Zhejiang United Investment Holdings Group Limited (8366) currently trades at HK$0.0240, while our model-based Fair Value estimate is HK$0.0194, implying the stock looks roughly 19.2% overvalued today. The Quality Score stands at 55/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, Zhejiang United Investment Holdings Group Limited generated revenue of HK$194M at a net margin of -0.6%. Revenue declined 53.3% year over year. The balance sheet holds a net cash position of HK$19.2M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.0194 (bear case) to HK$0.0216 (bull case); at HK$0.0240, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 60% below its 52-week high and 60% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -34% fair-value upside, at -19%, 8366 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

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
Highest evidence
Growth-Adj P/E HK$0.0100 HK$0.0100 HK$0.0200 68
P/E Multiple HK$0.0100 HK$0.0100 HK$0.0200 63
P/S Multiple HK$0.0100 HK$0.0100 HK$0.0100 58
All 6 models by family
Earnings-Based
Graham-Dodd HK$0.0200 HK$0.0300 54
Lynch FV HK$0.0100 HK$0.0100 HK$0.0100 50
PEG = 1.0 HK$0.0100 HK$0.0100 HK$0.0100 46
Multiples
P/E Multiple HK$0.0100 HK$0.0100 HK$0.0200 63
P/S Multiple HK$0.0100 HK$0.0100 HK$0.0100 58
Growth Earnings
Growth-Adj P/E HK$0.0100 HK$0.0100 HK$0.0200 68

Widest divergence: Earnings-Based (HK$0.0100) versus Earnings-Based (HK$0.0100). Highest evidence: Growth-Adj P/E (68).

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Key figures & financial health

Revenue (TTM) HK$194M
Revenue growth (YoY) -53.3%
Net margin -0.6%
Free cash flow −HK$2.1M FY2025
Operating margin -3.1%
EPS growth (YoY) -7.2%
More key figures
Net cash HK$19.2M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 56 · Market factors (momentum, volatility) 26

Profitability 40
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 42
Earnings quality: real cash, not paper profit
Fin. Strength 61
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 14
Price trend over the last 3–12 months (market factor)
52W Momentum 21
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Zhejiang United Investment Holdings Group Limited, an investment holding company, engages in the undertaking slope works, foundation works, and other general building works in Hong Kong.

Full company description

Zhejiang United Investment Holdings Group Limited, an investment holding company, engages in the undertaking slope works, foundation works, and other general building works in Hong Kong. It serves public sector projects, civil engineering and development and lands department; statutory bodies, including the Hong Kong housing authority; and private corporations and other entities in the private sector. The company was formerly known as Fraser Holdings Limited and changed its name to Zhejiang United Investment Holdings Group Limited in September 2017. Zhejiang United Investment Holdings Group Limited was incorporated in 2015 and is headquartered in Lai Chi Kok, Hong Kong. Zhejiang United Investment Holdings Group Limited is a subsidiary of Emperor Securities Limited.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Zhejiang United Investment Holdings Group Limited reported revenue of HK$280M in FY2025 versus HK$110M in FY2021, a compound +26.3%/yr. Reported net income was HK$1.0M in FY2025.

Growth Quality 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
HK$280M
Latest YoY
−7.3%
Avg. growth/yr (3Y) 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.
+28.1%
Avg. growth/yr (5Y) 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.
+14.1%
Avg. growth/yr (11Y) 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.
+7.4%
Revenue +26.3%/yr
FY21 HK$110M
FY22 HK$133M
FY23 HK$199M
FY24 HK$302M
FY25 HK$280M
Net income
FY21 −HK$174M
FY22 −HK$6.8M
FY23 −HK$3.1M
FY24 −HK$349K
FY25 HK$1.0M

8366 screens 19% overvalued. Compare with Larsen & Toubro Limited →

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Cite: Fair Value Calculator (2026). "Zhejiang United Investment Holdings Group Limited Fair Value". https://www.fairvalue-calculator.com/stock/8366

Peer Group

Engineering & Construction · 837 stocks

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.

Quality Score 55 · Above median
Fair Value upside −17% · Below median
Return on assets -4% · Bottom 25%
Net margin (TTM) -1% · Bottom 25%
Operating margin (TTM) -3% · Bottom 25%
Revenue growth -53% · Bottom 25%

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/S (TTM) 0.03× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 11 · sector 14
FUTURE 0 · sector 15
PAST 0 · sector 26
HEALTH 0 · sector 94
DIVIDEND 0 · sector 43

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹4,020 ₹1,994 -50%
Samsung C&T Corporation 028260 357,500 KRW 261,411 KRW -27%
Hyundai Engineering & Construction Co 000720 113,700 KRW 61,453 KRW -46%
Samsung E&A Co 028050 49,300 KRW 43,624 KRW -12%
Rail Vikas Nigam Limited RVNL ₹230.00 ₹48.92 -79%
Daewoo Engineering & Construction Co 047040 18,400 KRW 6,507 KRW -65%
KEPCO Engineering & Construction Company 052690 99,800 KRW 19,346 KRW -81%
GS Engineering & Construction Corporation 006360 35,200 KRW 23,135 KRW -34%
DL E&C Co 375500 73,500 KRW 148,433 KRW +102%
KEPCO Plant Service & Engineering Co 051600 46,350 KRW 43,924 KRW -5%

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Frequently asked questions

Is Zhejiang United Investment Holdings Group Limited (8366) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.0194 versus a price of HK$0.0240, about −19% (overvalued).
What is the fair value of 8366?
Our model-based fair value for Zhejiang United Investment Holdings Group Limited is HK$0.0194 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.0240.
What is the quality score of 8366?
Zhejiang United Investment Holdings Group Limited has a Quality Score of 55/100. 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 revenue of Zhejiang United Investment Holdings Group Limited (8366)?
Zhejiang United Investment Holdings Group Limited reported trailing-twelve-month revenue of about HK$194M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 8366?
The net profit margin of Zhejiang United Investment Holdings Group Limited is about -0.6%, 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.

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