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Unisound AI Technology Co Ltd (9678) Fair Value & Analysis

Technology · HK · Market cap HK$5.0B

UA Unisound AI Technology Co Ltd 9678 · HK
PriceHK$74.45
Fair ValueHK$39.47
Upside-47.0%
Quality42/100
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Expensive Growth
Loss-making · -27.0% net margin
negative free cash flow
Trails peers (3/9)
Narrow moat 10/100
Evidence: Low Range HK$26.05 – HK$49.35 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$39.54 to HK$39.47 (−0.2%) since Aug 12, 2026. Share price +3.3% over the past month.

Below-average quality, and screening another 47% overvalued on our models.

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What matters now

  • The price sits above even our optimistic bull case (HK$49.35). The favourable scenario is already priced in.
  • Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • 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$26.05 to HK$49.35) leaves room in how you read the outcome.
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Price vs Fair Value (13 months)

HK$856.00 HK$64.70 Fair Value HK$39.47 Jun 2025 Aug 2026

White line = price, green steps = our fair value per fiscal year. As of Aug 13, 2026.

How to read this chart

13‑month range HK$64.70 – HK$856.00 · fair‑value band HK$26.05 – HK$49.35 · the HK$74.45 price screens above the HK$39.47 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Aug 13, 2026.

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Analysis

Unisound AI Technology Co Ltd (9678) currently trades at HK$74.45, while our model-based Fair Value estimate is HK$39.47, implying the stock looks roughly 47.0% overvalued today. The Quality Score stands at 42/100 (below-average quality), in the Technology 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, Unisound AI Technology Co Ltd generated revenue of HK$1.2B at a net margin of -27.0%. Revenue grew 34.0% year over year. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$26.05 (bear case) to HK$49.35 (bull case); at HK$74.45, the current price sits above 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. For context, the median of 10 Technology peers we cover trades at -59% fair-value upside, at -47%, 9678 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$4.88 HK$6.54 HK$9.76 50
All 1 models by family
Asset-Based
NCAV (Graham) HK$4.88 HK$6.54 HK$9.76 50

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Key figures & financial health

Revenue (TTM) HK$1.2B
Revenue growth (YoY) +34.0%
Net margin -27.0%
Free cash flow −HK$241M FY2025
Operating margin -3.6%
EPS (TTM) HK$-4.28

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

Quality Score breakdown

Overall quality 42/100

Of which business quality 43 · Market factors (momentum, volatility) 0

Profitability 22
Margins and returns on capital today
Quality Growth 59
Are margins and returns improving?
Cashflow 3
Earnings quality: real cash, not paper profit
Fin. Strength 65
Balance sheet, leverage, solvency risk
Investment 49
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 80
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

Unisound AI Technology Co., Ltd., together with its subsidiaries, provides artificial intelligence products and solutions in the People's Republic of China.

Full company description

Unisound AI Technology Co., Ltd., together with its subsidiaries, provides artificial intelligence products and solutions in the People's Republic of China. The company offers the UniGPT foundation model and Beast Tooth intelligent agent platform, which provide smart customer service and smart marketing solutions; a one-stop smart rail transit intelligent agent application platform; a Cloud Customer Service system; Swift and Hummingbird AI chips; and speaking evaluation services for residential, commercial, and transportation applications. It also provides smart healthcare solutions, including audio medical transcription solutions, AI in medical record quality management solutions, and other AI-empowered medical solutions to medical institutions, as well as AI software, software-embedded hardware, and AI platform services. In addition, the company engages in the research and development of technology. The company was formerly known as Beijing Yunzhisheng Information Technology Co., Ltd. and changed its name to Unisound AI Technology Co., Ltd. in June 2019. Unisound AI Technology Co., Ltd. was incorporated in 2012 and is headquartered in Beijing, the People's Republic of China.

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

Revenue & earnings trend

FY2022 – FY2025 · reported fiscal years

Unisound AI Technology Co Ltd reported revenue of HK$1.2B in FY2025 versus HK$601M in FY2022, a compound +26.3%/yr. Reported net income was −HK$327M in FY2025.

Growth Quality 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
HK$1.2B
Latest YoY
+29.0%
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.
+26.3%
Revenue +26.3%/yr
FY22 HK$601M
FY23 HK$727M
FY24 HK$939M
FY25 HK$1.2B
Net income
FY22 −HK$366M
FY23 −HK$375M
FY24 −HK$452M
FY25 −HK$327M

9678 screens 47% overvalued. Compare with Microsoft Corporation →

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Cite: Fair Value Calculator (2026). "Unisound AI Technology Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/9678

Peer Group

Software - Infrastructure · 369 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 43 · Below median
Fair Value upside −47% · Below median
Return on assets -9% · Bottom 25%
Net margin (TTM) -27% · Bottom 25%
Operating margin (TTM) -4% · Below median
Revenue growth 34% · Top 25%

Valuation Multiples vs Software - Infrastructure median · lower = cheaper

P/B 0.92× · Cheaper than median
P/S (TTM) 0.53× · Cheaper than 75% of peers

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 0 · sector 0
FUTURE 100 · sector 48
PAST 0 · sector 14
HEALTH 0 · sector 99
DIVIDEND 0 · sector 29

VALUE 0: the price sits above our fair-value range.

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

Stock Price Fair Value vs Fair Value
Microsoft Corporation MSFT $506.06 $365.74 -28%
Oracle Corporation ORAC C$7.22 C$2.34 -68%
Fortinet, Inc FTNT $160.84 $61.46 -62%
Synopsys, Inc 1SNPS €358.00 €93.61 -74%
Block, Inc XYZ A$111.01 A$70.69 -36%
Range Intelligent Computing Technology Group 300442 ¥67.70 ¥30.89 -54%
Oracle Financial Services Software Limited OFSS ₹11,679 ₹6,897 -41%
360 Security Technology Inc 601360 ¥9.58 ¥1.05 -89%
One97 Communications Limited PAYTM ₹1,610 ₹241.68 -85%
PT GoTo Gojek Tokopedia Tbk GOTO 50.00 IDR 20.41 IDR -59%

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Frequently asked questions

Is Unisound AI Technology Co Ltd (9678) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$39.47 versus a price of HK$74.45, about −47% (overvalued).
What is the fair value of 9678?
Our model-based fair value for Unisound AI Technology Co Ltd is HK$39.47 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$74.45.
What is the quality score of 9678?
Unisound AI Technology Co Ltd has a Quality Score of 42/100. 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 Unisound AI Technology Co Ltd (9678)?
Unisound AI Technology Co Ltd reported trailing-twelve-month revenue of about HK$1.2B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 9678?
The net profit margin of Unisound AI Technology Co Ltd is about -27.0%, 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.

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