8403 (8403) Fair Value & Analysis

Communication Services · Market cap HK$496M

8 8403 8403 · HK

PriceHK$3.22

Fair ValueHK$2.10

Upside-34.8%

Quality44/100

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Evidence: Low Range HK$1.93 – HK$2.36

Fair value as of: Jul 3, 2026

From 3 valuation models · updated today

Share price +4.2% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$1.19 – HK$3.47 · fair‑value band HK$1.93 – HK$2.36 · the HK$3.22 price screens above the HK$2.10 fair value. As of Jul 3, 2026.

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Analysis

8403 (8403) currently trades at HK$3.22, while our model-based Fair Value estimate is HK$2.10 — implying the stock looks roughly 34.8% overvalued today. We read business quality at 44/100 (below-average quality), in the Communication Services 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, 8403 generated revenue of HK$94.5M at a net margin of -18.0%. Revenue declined 39.3% year over year. Net debt stands at HK$14.3M. Fundamentals as of Jul 3, 2026

Key figures & financial health

Revenue (TTM) HK$94.5M

Revenue growth (YoY) -39.3%

Net margin -18.0%

Return on equity -211%

Free cash flow −HK$9.0M FY2025

Operating margin -16.7%

More key figures

EPS (TTM) HK$-0.0800

EPS growth (YoY) -84.6%

Net debt HK$14.3M FY2025

Figures from reported company fundamentals (EODHD) · as of Jul 3, 2026. TTM = trailing twelve months.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

8403 reported revenue of HK$92.1M in FY2025 versus HK$170M in FY2021, a compound −14.2%/yr. Reported net income was −HK$16.6M in FY2025.

Revenue −14.2%/yr

FY21 HK$170M

FY22 HK$177M

FY23 HK$117M

FY24 HK$140M

FY25 HK$92.1M

Net income

FY21 −HK$7.7M

FY22 −HK$36.5M

FY23 −HK$16.9M

FY24 −HK$5.7M

FY25 −HK$16.6M

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6 more Advertising Agencies stocks, each showing price versus our Fair Value estimate (as of Jul 3, 2026).

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AppLovin Corporation APP	$558.87	$316.44	-43%
Publicis Groupe S.A PGPEF	$103.00	$166.23	+61%
Omnicom Group OMC	$73.98	$123.58	+67%
Focus Media Information Technology Co 002027	¥5.06	¥4.08	-19%
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BlueFocus Intelligent Communications Group 300058	¥15.49	¥2.14	-86%

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Frequently asked questions

Is 8403 (8403) undervalued?

As of Jul 3, 2026, our model estimates a fair value of HK$2.10 versus a price of HK$3.22 — about −35% (overvalued). Model-based estimate, not financial advice.

What is the fair value of 8403?

Our model-based fair value for 8403 is HK$2.10 (as of Jul 3, 2026), built from audited fundamentals. The current price is HK$3.22.

What is the quality score of 8403?

8403 has a Quality Score of 44/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 8403 (8403)?

8403 reported trailing-twelve-month revenue of about HK$94.5M (latest available figure, as of Jul 3, 2026).

What is the net profit margin of 8403?

The net profit margin of 8403 is about -18.0%, 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.