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9600 (9600) Fair Value & Analysis

Technology · Market cap HK$148M

9 9600 9600 · HK
PriceHK$0.1480
Fair ValueHK$0.3600
Upside+143.2%
Quality33/100
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Evidence: Low Range HK$0.2300 – HK$0.4400

Fair value as of: Jul 3, 2026

From 3 valuation models · updated today

Share price −22.9% over the past month.

Price vs Fair Value (12 months)

HK$0.3400 HK$0.1320 Fair Value HK$0.3600 Jun 2025 Jul 2026

12‑month range HK$0.1320 – HK$0.3400 · fair‑value band HK$0.2300 – HK$0.4400 · the HK$0.1480 price screens below the HK$0.3600 fair value. As of Jul 3, 2026.

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Analysis

9600 (9600) currently trades at HK$0.1480, while our model-based Fair Value estimate is HK$0.3600 — implying the stock looks roughly 143.2% undervalued today. We read business quality at 33/100 (below-average quality), in the Technology 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: low) — always confirm before acting.

Over the trailing twelve months, 9600 generated revenue of HK$309M at a net margin of -60.9%. Revenue grew 12.2% year over year. It earns a return on equity of -29.4%. The balance sheet holds a net cash position of HK$247M. Fundamentals as of Jul 3, 2026

Key figures & financial health

Revenue (TTM) HK$309M
Revenue growth (YoY) +12.2%
Net margin -60.9%
Return on equity -29.4%
Free cash flow −HK$44.5M FY2025
Operating margin -57.1%
More key figures
EPS (TTM) HK$-0.0700
EPS growth (YoY) -99.3%
Net cash HK$247M FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

9600 reported revenue of HK$309M in FY2025 versus HK$206M in FY2021, a compound +10.7%/yr. Reported net income was −HK$188M in FY2025.

Revenue +10.7%/yr
FY21 HK$206M
FY22 HK$261M
FY23 HK$245M
FY24 HK$279M
FY25 HK$309M
Net income
FY21 HK$13.0M
FY22 HK$17.5M
FY23 −HK$69.2M
FY24 −HK$92.5M
FY25 −HK$188M

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

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Frequently asked questions

Is 9600 (9600) undervalued?
As of Jul 3, 2026, our model estimates a fair value of HK$0.3600 versus a price of HK$0.1480 — about +143% (undervalued). Model-based estimate, not financial advice.
What is the fair value of 9600?
Our model-based fair value for 9600 is HK$0.3600 (as of Jul 3, 2026), built from audited fundamentals. The current price is HK$0.1480.
What is the quality score of 9600?
9600 has a Quality Score of 33/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of 9600 (9600)?
9600 reported trailing-twelve-month revenue of about HK$309M (latest available figure, as of Jul 3, 2026).
What is the net profit margin of 9600?
The net profit margin of 9600 is about -60.9%, 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.