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Huitongda Network Co Ltd (9878) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Huitongda Network Co Ltd HK$31.19, price HK$6.85, upside +355.3%, quality 57 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Technology · HK · Home China · ISIN CNE100005600

HN Thin data Sep 28, 2026

Huitongda Network Co Ltd

9878 · HK

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

✓Fair value HK$31.19 · Strongly undervalued (+355.3%)
!Quality 57/100
!Mixed Growth (revenue 5y +6.6 %/yr)
!Thin margins · 0.6% net margin (TTM)
✓Low debt · generates free cash flow
✓Ranks above peers (9/13)
!Narrow moat 21/100
!Evidence only low, so the estimate is less certain
!Weak on future: 14 out of 100
!Weak on past: 22 out of 100

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

HK$63.80 HK$6.45 Fair Value HK$31.19 Feb 2022 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 28, 2026.

How to read this chart

55‑month range HK$6.45 – HK$63.80 · fair‑value band HK$29.47 – HK$32.65 · the HK$6.85 price screens below the HK$31.19 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 28, 2026.

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Company profile

Huitongda Network Co., Ltd., an industrial internet company, provides digital technologies and supply chain capabilities in the People's Republic of China. The company operates through Commerce Business, Service Business, and Others segments. It engages in direct sales of merchandise in commerce business.

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Huitongda Network Co., Ltd., an industrial internet company, provides digital technologies and supply chain capabilities in the People's Republic of China. The company operates through Commerce Business, Service Business, and Others segments. It engages in direct sales of merchandise in commerce business. The company also offers intelligent business and marketing subscription services, and collection of merchant solutions, as well as various other related services. Huitongda Network Co., Ltd. was incorporated in 2010 and is headquartered in Nanjing, the People's Republic of China.

Stock analysis

Huitongda Network Co Ltd (9878) currently trades at HK$6.85, while our model-based Fair Value estimate is HK$31.19, implying the stock looks roughly 78.0% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of HK$50.00 per share, and 21 of the 22 models we run sit above the HK$6.85 price.

Bear case: the Earnings-Based group reads lowest at HK$5.60, and 1 of the 22 models stay below the price. Evidence for this calculation is low.

Scenario range: HK$29.47 (bear) to HK$32.65 (bull), the price of HK$6.85 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 57/100 (solid quality), in the Technology sector.

Mixed Growth: Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.

Huitongda Network Co Ltd reported revenue of 52.3B CNY in FY2025 versus 65.8B CNY in FY2021, a compound −5.6%/yr. Reported net income was 300M CNY in FY2025.

Key figures

Market cap HK$3.8B (≈ $484M) · P/E ratio 10.8 · P/S ratio 0.06 · EPS (TTM) HK$0.6337 · Net margin 0.6% · Return on equity 5.4% · Return on assets (EBIT) 2.4% · Operating margin 1.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 60% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −8% fair-value upside, at 355%, 9878 screens cheaper than that median.

Fair Value models

Bear HK$29.47 Fair Value HK$31.19 Bull HK$32.65
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (HK$0.1815 per share) are deliberately not added. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF HK$52.98 HK$63.65 HK$81.55 82
Growth DCF HK$54.12 HK$64.23 HK$79.90 80
Owner Earnings HK$26.99 HK$29.77 HK$34.43 78
All 22 models by family
DCF Models
FCF DCF HK$52.98 HK$63.65 HK$81.55 82
Owner Earnings HK$26.99 HK$29.77 HK$34.43 78
5Y Revenue Exit HK$40.55 HK$46.90 HK$56.06 74
5Y EBITDA Exit HK$44.15 HK$53.13 HK$65.03 77
5Y P/E Exit HK$40.08 HK$46.08 HK$53.37 72
10Y Revenue Exit HK$45.55 HK$50.46 HK$55.36 68
10Y EBITDA Exit HK$47.86 HK$53.97 HK$60.16 70
10Y P/E Exit HK$45.60 HK$50.00 HK$53.91 65
Earnings-Based
Graham-Dodd HK$4.59 HK$5.60 HK$6.31 67
EPV HK$28.84 HK$30.34 HK$31.59 74
Multiples
P/E Multiple HK$14.16 HK$18.88 HK$23.60 63
P/S Multiple HK$8.60 HK$11.46 HK$14.33 58
P/B Multiple HK$8.60 HK$11.46 HK$14.33 55
EV/EBIT HK$45.82 HK$55.15 HK$64.47 66
EV/EBITDA HK$40.49 HK$48.03 HK$55.58 67
EV/Revenue HK$31.99 HK$38.05 HK$44.11 54
Asset-Based
NCAV (Graham) HK$9.01 HK$12.08 HK$18.03 54
Growth DCF
Growth DCF HK$54.12 HK$64.23 HK$79.90 80
Rev-Margin DCF HK$40.55 HK$47.83 HK$57.16 74
Economic Profit
Residual Income HK$12.76 HK$12.63 HK$12.84 71
ROIC Compounder HK$28.84 HK$30.36 HK$31.63 72
Growth Earnings
Growth-Adj P/E HK$9.91 HK$14.15 HK$18.40 67

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Quality Score breakdown

Overall quality 57/100

Of which business quality 58 · Market factors (momentum, volatility) 28

Profitability 36
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 63
Earnings quality: real cash, not paper profit
Fin. Strength 59
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 62
Calm price path (market factor)
Momentum 21
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 75
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 55/100
Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−3.0%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+6.6%
Revenue growth 6 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+12.4%
What shareholders gained per year (last 3 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−8.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−8.0%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.1% → 1%

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Peer Groupⓘ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.Software - Application · 687 stocks

Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 57 · Above median
Fair Value upside +200.0% · Top 25%
Profitability
Return on equity (TTM) 5.4% · Above median
Return on assets 1.4% · Below median
Net margin (TTM) 0.6% · Below median
Operating margin (TTM) 1.2% · Below median
Growth and dividend
Revenue growth 2.8% · Below median
Balance sheet
Debt / equity 0.03× · Below median

Valuation Multiplesvs Software - Application median · lower = cheaper

P/E (TTM) 10.8× · Cheapest 25%
P/B 0.40× · Cheapest 25%
P/S (TTM) 0.06× · Cheapest 25%
P/FCF 1.8× · Cheapest 25%
PEG 0.87× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 27
FUTURE (revenue growth)14 · sector 41
PAST (return on equity)22 · sector 15
HEALTH (low debt)98 · sector 97
DIVIDEND (yield)0 · sector 30

Context: sector, industry, market

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

Similar stocks

10 more Software - Application stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
SAP SE SAP €186.74 €172.46 −8%
Salesforce, Inc CRM $229.57 $342.73 +49%
Shopify Inc SHOP $144.01 $64.36 −55%
ServiceNow, Inc NOW $134.01 $147.41 +10%
Uber Technologies, Inc UBER $69.36 $103.69 +49%
Snowflake Inc SNOW $330.31 $74.36 −77%
Automatic Data Processing, Inc ADP $261.80 $150.01 −43%
Adobe Inc ADBE $239.94 $454.04 +89%
Datadog, Inc DDOG $268.70 $32.52 −88%
Cadence Design Systems, Inc CDNS $326.70 $225.48 −31%

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Cite: Fair Value Calculator (2026). "Huitongda Network Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/9878

Frequently asked questions

Is Huitongda Network Co Ltd (9878) overvalued or undervalued?
As of Sep 28, 2026, our model estimates a fair value of HK$31.19 versus a price of HK$6.85, about +355% upside (undervalued).
What is the fair value of 9878?
Our model-based fair value for Huitongda Network Co Ltd is HK$31.19 (as of Sep 28, 2026), built from audited fundamentals. The current price: HK$6.85.
What is the quality score of 9878?
Huitongda Network Co Ltd has a Quality Score of 57/100. 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 price target for Huitongda Network Co Ltd (9878)?
Our model-based price target is the fair value of HK$31.19 (as of Sep 28, 2026) from 22 valuation models. Cautious scenario HK$29.47, optimistic scenario HK$32.65. It is a calculation from audited fundamentals, not an analyst target.
What is the Huitongda Network Co Ltd stock forecast for 2026?
Our models put fair value at HK$31.19, about +355% upside versus a price of HK$6.85 (undervalued). Cautious scenario HK$29.47, optimistic scenario HK$32.65. The calculation is refreshed regularly with new filings.
What is the revenue of Huitongda Network Co Ltd (9878)?
Huitongda Network Co Ltd reported trailing-twelve-month revenue of about 52.3B CNY (latest available figure, as of Sep 28, 2026).
What is the intrinsic value of Huitongda Network Co Ltd (9878)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Huitongda Network Co Ltd it is HK$31.19 per share (as of Sep 28, 2026), against a price of HK$6.85. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Huitongda Network Co Ltd stock overvalued or undervalued in 2026?
As of Sep 28, 2026, 9878 trades below its calculated fair value: price HK$6.85, fair value HK$31.19, a gap of about +355% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 9878?
No. The price is what the market pays today (HK$6.85); the fair value is what the company's own numbers justify (HK$31.19). For Huitongda Network Co Ltd the two are HK$24.34 per share apart. That gap is exactly why we show both numbers side by side.
How much is Huitongda Network Co Ltd worth?
The market values Huitongda Network Co Ltd at about HK$3.8B (market capitalisation, as of Sep 28, 2026). Per share that is HK$6.85; our models calculate a fair value of HK$31.19 per share.
What do the bullish and bearish scenarios say about 9878?
Our models span a range for Huitongda Network Co Ltd: cautious scenario HK$29.47, base HK$31.19, optimistic HK$32.65 per share (as of Sep 28, 2026, price HK$6.85). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 9878?
Huitongda Network Co Ltd trades at a price-to-earnings ratio of 10.8 (as of Sep 28, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$31.19 is built from several models across several years. Other multiples: PEG 0.9, P/B 0.4, P/S 0.1.
What is the PEG ratio of 9878?
The PEG ratio of Huitongda Network Co Ltd is 0.87 (P/E divided by earnings growth, as of Sep 28, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Huitongda Network Co Ltd (9878)?
Balance-sheet figures for Huitongda Network Co Ltd (as of Sep 28, 2026): return on equity 5.4%, debt of 0.03 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is 9878 from its 52-week high?
Huitongda Network Co Ltd trades at HK$6.85, about 60% below its 52-week high of HK$17.34 and 6% above the low of HK$6.45 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of HK$31.19 is for.
Which stocks are comparable to Huitongda Network Co Ltd?
From the same area (Technology) we also value SAP SE, Salesforce, Inc, Shopify Inc, ServiceNow, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Huitongda Network Co Ltd stock attractive at the current price?
The data as of Sep 28, 2026: price HK$6.85, calculated fair value HK$31.19 (+355%), Quality Score 57/100, from 22 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 9878 calculated?
We run Huitongda Network Co Ltd through 22 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of HK$31.19, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Huitongda Network Co Ltd currently trades 78 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Huitongda Network Co Ltd (9878)?
The closing price on Oct 2, 2026 was HK$6.85. Our model-based fair value is HK$31.19, about +355% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Huitongda Network Co Ltd right now?
The price is below even our cautious bear case (HK$29.47). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (57/100) at a price below fair value, the discount is the argument here, not the business quality. The models converge in a tight band (HK$29.47 to HK$32.65), unusually little disagreement for a valuation.

Key figures of Huitongda Network Co Ltd

How large is the market capitalisation of Huitongda Network Co Ltd (9878)?
The market capitalisation of Huitongda Network Co Ltd is HK$3.8B (≈ $484M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Huitongda Network Co Ltd (9878)?
The price-to-sales ratio of Huitongda Network Co Ltd is 0.06 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Huitongda Network Co Ltd (9878)?
Earnings per share at Huitongda Network Co Ltd are HK$0.6337 (price ÷ EPS = P/E 10.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Huitongda Network Co Ltd (9878)?
The net margin of Huitongda Network Co Ltd is 0.6% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Huitongda Network Co Ltd (9878)?
The return on equity (ROE) of Huitongda Network Co Ltd is 5.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Huitongda Network Co Ltd (9878)?
On an EBIT basis the return on assets of Huitongda Network Co Ltd is 2.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Huitongda Network Co Ltd (9878)?
The operating margin of Huitongda Network Co Ltd is 1.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Huitongda Network Co Ltd (9878)?
Revenue at Huitongda Network Co Ltd is growing +2.8% versus a year earlier (3y avg −14.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Huitongda Network Co Ltd (9878)?
Earnings per share at Huitongda Network Co Ltd are growing +12.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Huitongda Network Co Ltd (9878) generate?
The free cash flow of Huitongda Network Co Ltd is 1.8B CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Huitongda Network Co Ltd (9878) carry?
The net debt of Huitongda Network Co Ltd is 7.9B CNY (fiscal year 2025, ≈ 4.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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