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Newlink Technology Inc (9600) Fair Value & Analysis

Technology · HK · Market cap HK$148M (≈ $18.8M) · ISIN KYG6462B1068

What is Newlink Technology Inc really worth?

NT Newlink Technology Inc 9600 · HK
PriceHK$0.1400
Fair ValueHK$0.3500
Upside+150.0%
Quality32/100

Below-average quality, trading 60% below our fair value of HK$0.3500.

As of Aug 13, 2026, the fair value of Newlink Technology Inc is HK$0.3500 per share against a price of HK$0.1400, so the fair value sits 150% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Risks

!Expensive Growth (revenue 5y +11.9 %/yr)
!Loss-making · -60.9% net margin
!negative free cash flow
!Trails peers (3/9)
!Narrow moat 0/100
!Evidence only low, so the estimate is less certain
Evidence: Low Range HK$0.2300 – HK$0.4400

Fair value as of: Aug 13, 2026

From 1 valuation models · updated 23 days ago

Share price −6.0% over the past month.

What runs behind every stock

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

What matters now

  • The large discount to fair value meets weak quality (32/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (HK$0.2300). The market is more pessimistic than our downside scenario.
  • 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$0.2300 to HK$0.4400) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

HK$2.72 HK$0.1220 Fair Value HK$0.3500 Apr 2021 Sep 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$0.1220 – HK$2.72 · fair‑value band HK$0.2300 – HK$0.4400 · the HK$0.1400 price screens below the HK$0.3500 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Newlink Technology Inc (9600) currently trades at HK$0.1400, while our model-based Fair Value estimate is HK$0.3500, implying the stock looks roughly 60.0% undervalued today. The Quality Score stands at 32/100 (below-average quality), in the Technology sector. How firm this estimate is: it rests on 3 models at a data quality of 95/100, which puts the evidence level at low.

Over the trailing twelve months, Newlink Technology Inc 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 Aug 13, 2026

Our scenario range runs from HK$0.2300 (bear case) to HK$0.4400 (bull case); at HK$0.1400, the current price sits below 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 59% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at −36% fair-value upside, at 150%, 9600 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
NCAV (Graham) best evidence HK$0.2700 HK$0.3600 HK$0.5400 51
All 1 models by family
Asset-Based
NCAV (Graham) best evidence HK$0.2700 HK$0.3600 HK$0.5400 51

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Key figures & financial health

P/S ratio 0.48 TTM
EPS (TTM) HK$−0.0700
Dividend yield 0.0%
Net margin −60.9% FY2025
Return on equity −29.4% TTM
Return on assets (EBIT) −7.3% avg 5y
More key figures
Profitability
Operating margin −57.1% TTM
Growth
Revenue (TTM) HK$309M TTM
Revenue growth (YoY) +12.2% 3y avg +5.8%
Balance sheet & cash flow
Free cash flow −HK$44.5M FY2025
Net cash HK$247M FY2025

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

Quality Score breakdown

Overall quality 32/100

Of which business quality 34 · Market factors (momentum, volatility) 18

Profitability 7
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 1
Earnings quality: real cash, not paper profit
Fin. Strength 74
Balance sheet, leverage, solvency risk
Investment 85
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 6
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 20
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Newlink Technology Inc., an investment holding company, provides big data analysis and artificial intelligence related solutions in the People's Republic of China. The company offers software development, technical support, and maintenance services, as well as sells standard software products.

Full company description

Newlink Technology Inc., an investment holding company, provides big data analysis and artificial intelligence related solutions in the People's Republic of China. The company offers software development, technical support, and maintenance services, as well as sells standard software products. It also provides robotic process automation (RPA) solutions, smart park solutions, medical and health care big data intelligent management solutions, deep semantic analysis, risk prevention and control, and solution services powered by technologies, such as language parsing, data mining and analysis, cloud-based computing, distributed database management, intelligent control, knowledge graph, and deep learning. In addition, the company's solutions include medical quality control and safety warning platforms; and intelligent healthcare platform. It serves primarily finance, medical, transportation, and logistics, as well as general industries. Newlink Technology Inc. was founded in 2011 and is headquartered in Beijing, the People's Republic of China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Newlink Technology Inc reported revenue of 309M CNY in FY2025 versus 206M CNY in FY2021, a compound +10.7%/yr. Reported net income was −188M CNY in FY2025.

Growth Quality 39/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
HK$309M
Latest YoY
+10.7%
Avg. revenue 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.
+5.8%
Avg. revenue 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.
+11.9%
Avg. revenue growth/yr (8Y) 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.
+39.9%
EBIT 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.
22.9% (2020) → −47.7% (2025)
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue +10.7%/yr
FY21 206M CNY
FY22 261M CNY
FY23 245M CNY
FY24 279M CNY
FY25 309M CNY
Net income
FY21 13.0M CNY
FY22 17.5M CNY
FY23 −69.2M CNY
FY24 −92.5M CNY
FY25 −188M CNY

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Cite: Fair Value Calculator (2026). "Newlink Technology Inc Fair Value". https://www.fairvalue-calculator.com/stock/9600.HK

Peer Group

Software - Application · 691 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 32 · Bottom 25%
Fair Value upside +150% · Top 25%
Return on assets −11% · Bottom 25%
Net margin (TTM) −61% · Bottom 25%
Operating margin (TTM) −57% · Bottom 25%
Revenue growth 12% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Software - Application median · lower = cheaper

P/S (TTM) 0.06× · Cheaper than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 0
FUTURE61 · sector 36
PAST0 · sector 12
HEALTH0 · sector 98
DIVIDEND0 · sector 28

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 Software - Application stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
SAP SE SAP €191.32 €169.59 −11%
Shopify Inc SHOP C$209.78 C$28.76 −86%
Uber Technologies, Inc UBER $78.82 $43.66 −45%
Salesforce, Inc CRM $259.23 $249.28 −4%
ServiceNow, Inc NOW $138.43 $43.73 −68%
Cadence Design Systems, Inc CDNS $340.39 $112.57 −67%
Snowflake Inc SNOW $329.11 $42.27 −87%
Adobe Inc ADBE $266.51 $454.04 +70%
Automatic Data Processing, Inc ADP $277.62 $177.51 −36%
Intuit Inc INTU $332.70 $363.46 +9%

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Frequently asked questions

Is Newlink Technology Inc (9600) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.3500 versus a price of HK$0.1400, about +150% upside (undervalued).
What is the fair value of 9600?
Our model-based fair value for Newlink Technology Inc is HK$0.3500 (as of Aug 13, 2026), built from audited fundamentals. The current price: HK$0.1400.
What is the quality score of 9600?
Newlink Technology Inc has a Quality Score of 32/100. 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 Newlink Technology Inc (9600)?
Our model-based price target is the fair value of HK$0.3500 (as of Aug 13, 2026) from 1 valuation models. Cautious scenario HK$0.2300, optimistic scenario HK$0.4400. It is a calculation from audited fundamentals, not an analyst target.
What is the Newlink Technology Inc stock forecast for 2026?
Our models put fair value at HK$0.3500, about +150% upside versus a price of HK$0.1400 (undervalued). Cautious scenario HK$0.2300, optimistic scenario HK$0.4400. The calculation is refreshed regularly with new filings.
What is the revenue of Newlink Technology Inc (9600)?
Newlink Technology Inc reported trailing-twelve-month revenue of about HK$309M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 9600?
The net profit margin of Newlink Technology Inc is about −60.9%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Newlink Technology Inc pay a dividend?
Newlink Technology Inc currently shows a dividend yield of about 0.01% relative to its recent price (as of Aug 13, 2026).
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