Wing Lee Dvlp Constr Hldg Ltd (9639) Fair Value & Analysis
Industrials · HK · Market cap HK$940M
Fair value as of: Aug 13, 2026
From 17 valuation models · updated 3 days ago
Share price −0.5% over the past month.
Below-average quality, screening 19% undervalued on our models.
What matters now
- Our model range runs from HK$0.8700 (bear) to HK$1.46 (bull), base HK$1.16. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 46/100 (below-average quality) with high evidence: the data supports the verdict.
Price vs Fair Value (22 months)
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
22‑month range HK$0.4050 – HK$1.47 · fair‑value band HK$0.8700 – HK$1.46 · the HK$0.9750 price screens below the HK$1.16 fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Wing Lee Dvlp Constr Hldg Ltd (9639) currently trades at HK$0.9750, while our model-based Fair Value estimate is HK$1.16, implying the stock looks roughly 19.0% undervalued today. The Quality Score stands at 46/100 (below-average quality), in the Industrials 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: high), always confirm before acting.
Over the trailing twelve months, Wing Lee Dvlp Constr Hldg Ltd generated revenue of HK$568M at a net margin of 6.5%. Revenue declined 37.0% year over year. It earns a return on equity of 13.9%. The balance sheet holds a net cash position of HK$21.5M. Fundamentals as of Aug 13, 2026
Our scenario range runs from HK$0.8700 (bear case) to HK$1.46 (bull case); at HK$0.9750, the current price sits within 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 46% below its 52-week high and 11% 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%, 9639 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.
All 17 models by family
Widest divergence: Growth Earnings (HK$2.02) versus Asset-Based (HK$0.2400). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 48 · Market factors (momentum, volatility) 24
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
Wing Lee Development Construction Holdings Limited, an investment holding company, provides civil and electrical cable engineering, and solar photovoltaic (PV) system contracting services in Hong Kong. The company operates through Civil Engineering, Electrical and Mechanical Engineering, and New Energy segments.
Full company description
Wing Lee Development Construction Holdings Limited, an investment holding company, provides civil and electrical cable engineering, and solar photovoltaic (PV) system contracting services in Hong Kong. The company operates through Civil Engineering, Electrical and Mechanical Engineering, and New Energy segments. It engages in the road and drainage works, such as construction and modification of roads, carriageways, and pavements; construction of covered walkways; renovation of subways and footbridges; provision of facilities at footbridges, elevated walkways, and subways; construction of drainage systems, manholes, and cable trenches; and installation of water mains and sewerage pipes, as well as site formation works, which includes earthworks, excavation, and installation of steel structures. The company also provides electrical cable engineering works, which includes cable trenching, laying, and jointing; excavation, reinstatement, and miscellaneous construction works; and traffic impact assessment, underground cable laying and connection project, as well as emergency and cable fault repair services. In addition, it is involved in the designing, installation, and maintenance of solar PV systems, as well as provides annual maintenance services of solar PV systems. Further, it leases machinery; and engages in the trading of construction materials. The company was founded in 2005 and is headquartered in Tsuen Wan, Hong Kong. Wing Lee Development Construction Holdings Limited operates as a subsidiary of Wing Lee Green Development Limited.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2025 · reported fiscal years
Wing Lee Dvlp Constr Hldg Ltd reported revenue of HK$717M in FY2025 versus HK$520M in FY2022, a compound +11.3%/yr. Reported net income was HK$55.5M in FY2025, compounding −2.1%/yr from FY2022.
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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.
Valuation Multiples vs Engineering & Construction median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
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
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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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