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Sino-Synergy Hydrogen Energy (9663) Fair Value & Analysis

Industrials · HK · Market cap HK$1.5B

SS Sino-Synergy Hydrogen Energy 9663 · HK
PriceHK$2.36
Fair ValueHK$2.02
Upside-14.4%
Quality23/100
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Expensive Growth
Loss-making · -161.3% net margin
Low debt · negative free cash flow
Mixed vs. peers (4/10)
Narrow moat 0/100
Evidence: Low Range HK$1.33 – HK$2.53 Share as image

Fair value as of: Aug 13, 2026

From 1 valuation models · updated 3 days ago

Fair value updated Aug 13, 2026, revised from HK$2.05 to HK$2.02 (−1.5%) since Jul 7, 2026. Share price −17.2% over the past month.

Below-average quality, and screening another 14% overvalued on our models.

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What matters now

  • A fairly wide model range (HK$1.33 to HK$2.53) leaves room in how you read the outcome.
  • 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 (3 years)

HK$26.45 HK$2.31 Fair Value HK$2.02 Dec 2023 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

32‑month range HK$2.31 – HK$26.45 · fair‑value band HK$1.33 – HK$2.53 · the HK$2.36 price screens above the HK$2.02 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Sino-Synergy Hydrogen Energy (9663) currently trades at HK$2.36, while our model-based Fair Value estimate is HK$2.02, implying the stock looks roughly 14.4% overvalued today. The Quality Score stands at 23/100 (below-average 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).

Trailing-twelve-month revenue stands at HK$300M. Revenue declined 22.1% year over year. It earns a return on equity of -17.7%. Net debt stands at HK$399M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$1.33 (bear case) to HK$2.53 (bull case); at HK$2.36, 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 73% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -65% fair-value upside, at -14%, 9663 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
NCAV (Graham) HK$3.18 HK$4.26 HK$6.36 50
All 1 models by family
Asset-Based
NCAV (Graham) HK$3.18 HK$4.26 HK$6.36 50

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Key figures & financial health

Revenue (TTM) HK$300M
Revenue growth (YoY) -22.1%
Net margin -161%
Return on equity -17.7%
Free cash flow −HK$78.9M FY2026
Operating margin -126%
More key figures
EPS (TTM) HK$-0.3600
Net debt HK$399M FY2026

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

Quality Score breakdown

Overall quality 23/100

Of which business quality 27 · Market factors (momentum, volatility) 12

Profitability 0
Margins and returns on capital today
Quality Growth 12
Are margins and returns improving?
Cashflow 19
Earnings quality: real cash, not paper profit
Fin. Strength 48
Balance sheet, leverage, solvency risk
Investment 53
Disciplined investing over empire-building
Low Volatility 38
Calm price path (market factor)
Momentum 2
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 41
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

Sino-Synergy Hydrogen Energy Technology (Jiaxing) Co., Ltd., together with its subsidiaries, engages in the research, development, production, and sale of hydrogen fuel cell stacks and hydrogen fuel cell systems in the People's Republic of China.

Full company description

Sino-Synergy Hydrogen Energy Technology (Jiaxing) Co., Ltd., together with its subsidiaries, engages in the research, development, production, and sale of hydrogen fuel cell stacks and hydrogen fuel cell systems in the People's Republic of China. It offers fuel cell stacks, fuel cell systems, and flexible graphite bipolar plates, as well as stationary power generation systems and alkaline hydrogen generation systems. The company is also involved in the technology development and promotion; provision of technical services and consulting, technology research, and testing and development; manufacturing, sale, engineering, and technology research of batteries; and electrical machinery and equipment manufacturing. It offers its solution for public and logistic transportation, rail transportation, backup power, and supply chain applications. The company was formerly known as Guangdong Sino-Synergy Hydrogen Energy Technology Co., Ltd. and changed its name to Sino-Synergy Hydrogen Energy Technology (Jiaxing) Co., Ltd. in September 2022. Sino-Synergy Hydrogen Energy Technology (Jiaxing) Co., Ltd. was incorporated in 2015 and is headquartered in Jiaxing City, China.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Sino-Synergy Hydrogen Energy reported revenue of HK$292M in FY2026 versus HK$457M in FY2022, a compound −10.6%/yr. Reported net income was −HK$471M in FY2026.

Growth Quality 11/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
HK$292M
Latest YoY
−34.0%
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.
−26.9%
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.
+5.2%
Avg. growth/yr (6Y) 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.
−3.7%
Revenue −10.6%/yr
FY22 HK$457M
FY23 HK$748M
FY24 HK$701M
FY25 HK$442M
FY26 HK$292M
Net income
FY22 −HK$703M
FY23 −HK$273M
FY24 −HK$404M
FY25 −HK$407M
FY26 −HK$471M

9663 screens 14% overvalued. Compare with Contemporary Amperex Technology Co →

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Cite: Fair Value Calculator (2026). "Sino-Synergy Hydrogen Energy Fair Value". https://www.fairvalue-calculator.com/stock/9663

Peer Group

Electrical Equipment & Parts · 527 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 27 · Bottom 25%
Fair Value upside −14% · Above median
Return on assets -7% · Bottom 25%
Net margin (TTM) -161% · Bottom 25%
Operating margin (TTM) -126% · Bottom 25%
Revenue growth -22% · Bottom 25%
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper

P/B 0.08× · Cheaper than 75% of peers
P/S (TTM) 0.65× · Cheaper than median

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 14 · sector 0
FUTURE 0 · sector 57
PAST 0 · sector 26
HEALTH 98 · sector 97
DIVIDEND 0 · sector 23

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 Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Contemporary Amperex Technology Co 3750 HK$652.50 HK$394.19 -40%
Delta Electronics (Thailand) Public Company DELTA 269.00 THB 40.28 THB -85%
LG Energy Solution, Ltd 373220 365,500 KRW 201,455 KRW -45%
WEG S.A WEGE3 14,900 ARS 4,338 ARS -71%
Sungrow Power Supply Co 300274 ¥117.53 ¥123.83 +5%
HD Hyundai Electric Co 267260 782,000 KRW 371,133 KRW -53%
LS ELECTRIC Co 010120 208,500 KRW 29,594 KRW -86%
Hyosung Heavy Industries Corporation 298040 2,892,000 KRW 1,013,099 KRW -65%
Hitachi Energy India Limited POWERINDIA ₹35,800 ₹6,106 -83%
Polycab India Limited POLYCAB ₹9,289 ₹3,218 -65%

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Frequently asked questions

Is Sino-Synergy Hydrogen Energy (9663) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$2.02 versus a price of HK$2.36, about −14% (overvalued).
What is the fair value of 9663?
Our model-based fair value for Sino-Synergy Hydrogen Energy is HK$2.02 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$2.36.
What is the quality score of 9663?
Sino-Synergy Hydrogen Energy has a Quality Score of 23/100. 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 Sino-Synergy Hydrogen Energy (9663)?
Sino-Synergy Hydrogen Energy reported trailing-twelve-month revenue of about HK$300M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 9663?
The net profit margin of Sino-Synergy Hydrogen Energy is about -161.3%, 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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