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Hangzhou Sf Intra City Industrial Co Ltd (9699) Fair Value & Analysis

Industrials · HK · Market cap HK$6.8B

HS Hangzhou Sf Intra City Industrial Co Ltd 9699 · HK
PriceHK$8.00
Fair ValueHK$7.28
Upside-9.0%
Quality69/100
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Healthy Growth
Thin margins · 1.2% net margin
generates free cash flow
Trails peers (5/13)
Narrow moat 25/100
Evidence: High Range HK$5.42 – HK$9.13 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 3 days ago

Fair value updated Aug 13, 2026, revised from HK$5.96 to HK$7.28 (+22.1%) since Jul 7, 2026. Share price −2.4% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from HK$5.42 (bear) to HK$9.13 (bull), base HK$7.28. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 69/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

HK$18.94 HK$5.15 Fair Value HK$7.28 Dec 2021 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

56‑month range HK$5.15 – HK$18.94 · fair‑value band HK$5.42 – HK$9.13 · the HK$8.00 price screens above the HK$7.28 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Hangzhou Sf Intra City Industrial Co Ltd (9699) currently trades at HK$8.00, while our model-based Fair Value estimate is HK$7.28, implying the stock looks roughly 9.0% fairly valued today. The Quality Score stands at 69/100 (solid 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: high).

Over the trailing twelve months, Hangzhou Sf Intra City Industrial Co Ltd generated revenue of HK$22.9B at a net margin of 1.2%. Revenue grew 42.8% year over year. It earns a return on equity of 8.9%. Net debt stands at HK$104M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$5.42 (bear case) to HK$9.13 (bull case); at HK$8.00, 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 56% below its 52-week high and 16% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 26% fair-value upside, at -9%, 9699 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.

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
Residual Income HK$3.67 HK$3.94 HK$4.57 76
Growth DCF HK$8.12 HK$14.07 HK$23.65 72
Gordon GGM HK$0.8900 HK$1.77 HK$2.68 70
All 26 models by family
DCF Models
FCF DCF HK$8.55 HK$12.33 HK$24.12 38
Owner Earnings HK$7.08 HK$13.82 HK$27.45 31
5Y Revenue Exit HK$6.24 HK$9.35 HK$15.84 39
5Y EBITDA Exit HK$6.89 HK$10.67 HK$18.06 41
5Y P/E Exit HK$7.89 HK$15.45 HK$25.70 38
10Y Revenue Exit HK$6.86 HK$12.44 HK$15.75 36
10Y EBITDA Exit HK$7.47 HK$13.81 HK$24.56 37
10Y P/E Exit HK$8.18 HK$15.91 HK$28.50 35
Earnings-Based
Graham-Dodd HK$2.54 HK$17.74 HK$24.89 54
Lynch FV HK$9.16 HK$13.09 HK$17.02 50
PEG = 1.0 HK$9.16 HK$13.09 HK$17.02 46
EPV HK$4.61 HK$5.09 HK$5.51 59
Dividend Discount
Gordon GGM HK$0.8900 HK$1.77 HK$2.68 70
DDM Multi-Stage HK$0.8900 HK$1.53 HK$1.87 61
Multiples
P/E Multiple HK$5.89 HK$7.85 HK$9.82 63
P/S Multiple HK$4.77 HK$6.36 HK$7.95 58
P/B Multiple HK$4.77 HK$6.36 HK$7.95 55
EV/EBIT HK$6.32 HK$7.91 HK$9.51 53
EV/EBITDA HK$6.07 HK$7.59 HK$9.10 54
EV/Revenue HK$4.95 HK$6.41 HK$7.88 43
Asset-Based
NCAV (Graham) HK$2.21 HK$2.96 HK$4.42 50
Growth DCF
Growth DCF HK$8.12 HK$14.07 HK$23.65 72
Rev-Margin DCF HK$6.71 HK$10.48 HK$18.40 67
Economic Profit
Residual Income HK$3.67 HK$3.94 HK$4.57 76
ROIC Compounder HK$4.86 HK$6.13 HK$7.36 67
Growth Earnings
Growth-Adj P/E HK$11.99 HK$17.12 HK$22.26 68

Widest divergence: Growth Earnings (HK$17.12) versus Dividend Discount (HK$1.53). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) HK$22.9B
Revenue growth (YoY) +42.8%
Net margin 1.2%
Return on equity 8.9%
Free cash flow HK$327M FY2025
P/E ratio 21.3 as of Jul 3, 2026
More key figures
Operating margin 0.9%
EPS (TTM) HK$0.1500
EPS growth (YoY) +93.9%
Net debt HK$104M FY2020

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

Quality Score breakdown

Overall quality 69/100

Of which business quality 70 · Market factors (momentum, volatility) 13

Profitability 49
Margins and returns on capital today
Quality Growth 79
Are margins and returns improving?
Cashflow 46
Earnings quality: real cash, not paper profit
Fin. Strength 92
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 25
Calm price path (market factor)
Momentum 9
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 87
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

Hangzhou SF Intra-city Industrial Co., Ltd., an investment holding company, provides intra-city on-demand delivery services in the People's Republic of China.

Full company description

Hangzhou SF Intra-city Industrial Co., Ltd., an investment holding company, provides intra-city on-demand delivery services in the People's Republic of China. It covers the delivery of food, fresh produce, flowers, cakes and desserts, other groceries, apparel, jewelry, cosmetics, 3C electronics, as well as personal errands services, and task-based government and enterprise services, etc. The company offers software development and information technology services; procures equipment; software as a service (SaaS) solutions; and intracity delivery services. It serves intra-city delivery for merchants, and consumers, and last-mile delivery primarily for logistics companies. The company was founded in 2016 and is headquartered in Shenzhen, China. Hangzhou SF Intra-city Industrial Co., Ltd. operates as a subsidiary of Shenzhen S.F. Taisen Holding (Group) Co.,Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Hangzhou Sf Intra City Industrial Co Ltd reported revenue of HK$22.9B in FY2025 versus HK$8.2B in FY2021, a compound +29.4%/yr. Reported net income was HK$278M in FY2025.

Growth Quality 85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
HK$22.9B
Latest YoY
+45.4%
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.
+30.7%
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.
+36.4%
Avg. growth/yr (7Y) ⓘ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.
+56.6%
Revenue +29.4%/yr
FY21 HK$8.2B
FY22 HK$10.3B
FY23 HK$12.4B
FY24 HK$15.7B
FY25 HK$22.9B
Net income
FY21 −HK$899M
FY22 −HK$287M
FY23 HK$50.6M
FY24 HK$132M
FY25 HK$278M

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Hangzhou Sf Intra City Industrial Co Ltd · Fair Value
HK$7.28 −9%Fair Value
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Cite: Fair Value Calculator (2026). "Hangzhou Sf Intra City Industrial Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/9699

Peer Group

Integrated Freight & Logistics · 217 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 69 · Top 25%
Fair Value upside −9% · Below median
Return on equity (TTM) 9% · Above median
Return on assets 3% · Above median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 1% · Bottom 25%
Revenue growth 43% · Top 25%
Dividend yield (TTM) 1.1% · Below median

Valuation Multiples vs Integrated Freight & Logistics median · lower = cheaper

P/E (TTM) 21.3× · Pricier than median
P/B 2.08× · Pricier than 75% of peers
P/S (TTM) 0.30× · Cheaper than median
P/FCF 2.7× · Pricier than median
EV/EBITDA 23.0× · Pricier 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 21 · sector 40
FUTURE 100 · sector 8
PAST 36 · sector 26
HEALTH 0 · sector 94
DIVIDEND 22 · sector 63

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 Integrated Freight & Logistics stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
United Parcel Service, Inc UPS $103.91 $103.34 -1%
FedEx Corporation FDX $326.77 $347.68 +6%
Deutsche Post AG DHL €55.32 €53.18 -4%
DSV A/S DSV kr 1,380 kr 712.57 -48%
J.B. Hunt Transport Services, Inc JBHT $275.96 $133.80 -52%
S.F. Holding 002352 ¥32.96 ¥48.64 +48%
ZTO Express (Cayman) Inc 2057 HK$178.20 HK$224.41 +26%
Hyundai Glovis Co 086280 199,700 KRW 468,982 KRW +135%
YTO Express Group 600233 ¥18.48 ¥26.51 +43%
JD Logistics, Inc 2618 HK$14.17 HK$21.45 +51%

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Frequently asked questions

Is Hangzhou Sf Intra City Industrial Co Ltd (9699) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$7.28 versus a price of HK$8.00, about −9% (fairly valued).
What is the fair value of 9699?
Our model-based fair value for Hangzhou Sf Intra City Industrial Co Ltd is HK$7.28 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$8.00.
What is the quality score of 9699?
Hangzhou Sf Intra City Industrial Co Ltd has a Quality Score of 69/100. 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 Hangzhou Sf Intra City Industrial Co Ltd (9699)?
Hangzhou Sf Intra City Industrial Co Ltd reported trailing-twelve-month revenue of about HK$22.9B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 9699?
The net profit margin of Hangzhou Sf Intra City Industrial Co Ltd is about 1.2%, meaning it keeps roughly 1.2% of revenue as net income. 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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