Neusoft Xikang Holdings Inc (9686) Fair Value & Analysis
Healthcare · HK · Market cap HK$783M
Fair value as of: Aug 13, 2026
From 7 valuation models · updated 3 days ago
Share price −5.6% over the past month.
Below-average quality, and screening another 65% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (HK$0.3800). The favourable scenario is already priced in.
- Weak quality (39/100) 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.
Price vs Fair Value (3 years)
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
35‑month range HK$0.6000 – HK$2.72 · fair‑value band HK$0.2200 – HK$0.3800 · the HK$0.8500 price screens above the HK$0.3000 fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Neusoft Xikang Holdings Inc (9686) currently trades at HK$0.8500, while our model-based Fair Value estimate is HK$0.3000, implying the stock looks roughly 64.7% overvalued today. The Quality Score stands at 39/100 (below-average quality), in the Healthcare 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, Neusoft Xikang Holdings Inc generated revenue of HK$464M at a net margin of -8.4%. Revenue declined 11.4% year over year. It earns a return on equity of -11.3%. The balance sheet holds a net cash position of HK$27.0M. Fundamentals as of Aug 13, 2026
Our scenario range runs from HK$0.2200 (bear case) to HK$0.3800 (bull case); at HK$0.8500, 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. The share trades about 18% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -64% fair-value upside, at -65%, 9686 screens richer 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 7 models by family
Widest divergence: Multiples (HK$0.8800) versus Asset-Based (HK$0.2500). Highest evidence: Growth DCF (80).
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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 40 · Market factors (momentum, volatility) 45
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
Xikang Cloud Hospital Holdings Inc., an investment holding company, primarily provides cloud hospital platform services in the People's Republic of China and internationally. It operates through Medical Services, Nursing Services, and Health Management Services segments.
Full company description
Xikang Cloud Hospital Holdings Inc., an investment holding company, primarily provides cloud hospital platform services in the People's Republic of China and internationally. It operates through Medical Services, Nursing Services, and Health Management Services segments. The company offers platform construction and connection services; and internet medical services, such as online hospital services and remote medical services through the cloud-based information infrastructure to the medical institutions, individual customers, and enterprises. It also provides integrated health management services, which include offline health check-ups; and nursing platform construction services and platform connection services. Further, the company engages in the research and development of computer technology; and sales of medical devices, as well as provision of technology service. The company was formerly known as Neusoft Xikang Holdings Inc. and changed its name to Xikang Cloud Hospital Holdings Inc. in May 2024. Xikang Cloud Hospital Holdings Inc. was incorporated in 2011 and is headquartered in Ningbo, the People's Republic of China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Neusoft Xikang Holdings Inc reported revenue of HK$464M in FY2025 versus HK$614M in FY2021, a compound −6.8%/yr. Reported net income was −HK$38.9M in FY2025.
9686 screens 65% overvalued. Compare with Veeva Systems Inc →
Peer Group
Health Information Services · 125 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 Health Information Services 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.
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.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Health Information Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Veeva Systems Inc VEEV | $241.51 | $91.49 | -62% |
| Pro Medicus Limited PME | A$183.71 | A$23.74 | -87% |
| BrightSpring Health Services, Inc BTSG | $59.68 | $21.31 | -64% |
| HealthEquity, Inc HQY | $105.50 | $56.63 | -46% |
| Hinge Health, Inc HNGE | $86.32 | $24.03 | -72% |
| 10x Genomics, Inc TXG | $58.48 | $17.18 | -71% |
| Waystar Holding WAY | $24.54 | $12.86 | -48% |
| XtalPi Holdings 2228 | HK$8.19 | HK$1.04 | -87% |
| Doximity, Inc DOCS | $24.99 | $25.91 | +4% |
| Privia Health Group PRVA | $21.54 | $5.26 | -76% |
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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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