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Huitongda Network Co Ltd (9878) Fair Value & Analysis

Technology · HK · Market cap HK$3.9B

HN Huitongda Network Co Ltd 9878 · HK
PriceHK$8.98
Fair ValueHK$14.92
Upside+66.2%
Quality57/100
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Healthy Growth
Thin margins · 0.6% net margin
Low debt · generates free cash flow
Ranks above peers (9/13)
Narrow moat 21/100
Evidence: Medium Range HK$9.86 – HK$22.43 Share as image

Fair value as of: Aug 13, 2026

From 22 valuation models · updated 3 days ago

Fair value updated Aug 13, 2026, revised from HK$11.40 to HK$14.92 (+30.9%) since Aug 6, 2026. Share price +20.9% over the past month.

A solid business, screening 66% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (HK$9.86). The market is more pessimistic than our downside scenario.
  • Solid quality (57/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (HK$9.86 to HK$22.43) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

HK$63.80 HK$6.45 Fair Value HK$14.92 Feb 2022 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

54‑month range HK$6.45 – HK$63.80 · fair‑value band HK$9.86 – HK$22.43 · the HK$8.98 price screens below the HK$14.92 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Huitongda Network Co Ltd (9878) currently trades at HK$8.98, while our model-based Fair Value estimate is HK$14.92, implying the stock looks roughly 66.2% undervalued today. The Quality Score stands at 57/100 (solid quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Huitongda Network Co Ltd generated revenue of HK$52.3B at a net margin of 0.6%. Revenue grew 2.8% year over year. It earns a return on equity of 5.4%. Net debt stands at HK$7.9B. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$9.86 (bear case) to HK$22.43 (bull case); at HK$8.98, the current price sits below 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 54% below its 52-week high and 40% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -40% fair-value upside, at 66%, 9878 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
Growth DCF HK$47.92 HK$58.95 HK$77.23 80
Rev-Margin DCF HK$34.45 HK$40.93 HK$49.21 74
ROIC Compounder HK$25.97 HK$27.67 HK$29.16 72
All 22 models by family
DCF Models
FCF DCF HK$46.59 HK$58.05 HK$78.60 38
Owner Earnings HK$21.21 HK$23.38 HK$27.27 31
5Y Revenue Exit HK$34.45 HK$40.18 HK$48.44 39
5Y EBITDA Exit HK$37.74 HK$45.88 HK$56.67 41
5Y P/E Exit HK$34.01 HK$39.42 HK$45.98 38
10Y Revenue Exit HK$38.85 HK$43.49 HK$48.17 36
10Y EBITDA Exit HK$41.10 HK$46.93 HK$52.89 37
10Y P/E Exit HK$38.89 HK$43.03 HK$46.76 35
Earnings-Based
Graham-Dodd HK$3.92 HK$4.80 HK$5.40 54
EPV HK$25.97 HK$27.65 HK$29.11 59
Multiples
P/E Multiple HK$12.12 HK$16.16 HK$20.20 63
P/S Multiple HK$7.36 HK$9.81 HK$12.27 58
P/B Multiple HK$7.36 HK$9.81 HK$12.27 55
EV/EBIT HK$39.22 HK$47.20 HK$55.18 53
EV/EBITDA HK$34.65 HK$41.11 HK$47.57 54
EV/Revenue HK$27.38 HK$32.57 HK$37.76 43
Asset-Based
NCAV (Graham) HK$7.71 HK$10.34 HK$15.43 50
Growth DCF
Growth DCF HK$47.92 HK$58.95 HK$77.23 80
Rev-Margin DCF HK$34.45 HK$40.93 HK$49.21 74
Economic Profit
Residual Income HK$11.23 HK$11.00 HK$9.54 61
ROIC Compounder HK$25.97 HK$27.67 HK$29.16 72
Growth Earnings
Growth-Adj P/E HK$8.48 HK$12.11 HK$15.75 68

Widest divergence: DCF Models (HK$43.03) versus Earnings-Based (HK$4.80). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$52.3B
Revenue growth (YoY) +2.8%
Net margin 0.6%
Return on equity 5.4%
Free cash flow HK$1.8B FY2025
P/E ratio 11.4 as of Jul 3, 2026
More key figures
Operating margin 1.2%
EPS (TTM) HK$0.2400
EPS growth (YoY) +12.3%
Net debt HK$7.9B FY2025

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

Quality Score breakdown

Overall quality 57/100

Of which business quality 58 · Market factors (momentum, volatility) 34

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 54
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 10
Distance to the 52-week high (market factor)
Net Issuance 75
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

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.

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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

Growth Quality 68/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
HK$52.3B
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.
−3.0%
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.
+6.6%
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.
+12.4%
Revenue −5.6%/yr
FY21 HK$65.8B
FY22 HK$82.1B
FY23 HK$82.4B
FY24 HK$60.1B
FY25 HK$52.3B
Net income
FY21 −HK$350M
FY22 HK$316M
FY23 HK$448M
FY24 HK$270M
FY25 HK$300M

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Huitongda Network Co Ltd · Fair Value
HK$14.92 +66%Fair Value
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Cite: Fair Value Calculator (2026). "Huitongda Network Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/9878

Peer Group

Software - Application · 718 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 57 · Above median
Fair Value upside +66% · Top 25%
Return on equity (TTM) 5% · Above median
Return on assets 1% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 1% · Below median
Revenue growth 3% · Below median
Debt / equity 0.03× · Lower than median

Valuation Multiples vs Software - Application median · lower = cheaper

P/E (TTM) 11.4× · Cheaper than 75% of peers
P/B 0.49× · Cheaper than 75% of peers
P/S (TTM) 0.08× · Cheaper than 75% of peers
P/FCF 0.3× · Cheaper than 75% of peers
PEG 0.87× · 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 100 · sector 2
FUTURE 14 · sector 38
PAST 22 · sector 13
HEALTH 98 · sector 98
DIVIDEND 0 · sector 34

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

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Shopify Inc SHOP C$209.78 C$28.76 -86%
Uber Technologies, Inc UBER $75.36 $43.66 -42%
Salesforce, Inc CRM $193.32 $249.28 +29%
ServiceNow, Inc NOW $124.94 $43.73 -65%
Cadence Design Systems, Inc CDNS $323.13 $112.57 -65%
Beijing Kingsoft Office Software, Inc 688111 ¥254.50 ¥81.23 -68%
Tata Elxsi Limited TATAELXSI ₹3,712 ₹2,519 -32%
Douzone Bizon Co 012510 120,000 KRW 92,181 KRW -23%
KFin Technologies Limited KFINTECH ₹922.00 ₹556.85 -40%

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Frequently asked questions

Is Huitongda Network Co Ltd (9878) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$14.92 versus a price of HK$8.98, about +66% (undervalued).
What is the fair value of 9878?
Our model-based fair value for Huitongda Network Co Ltd is HK$14.92 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$8.98.
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 revenue of Huitongda Network Co Ltd (9878)?
Huitongda Network Co Ltd reported trailing-twelve-month revenue of about HK$52.3B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 9878?
The net profit margin of Huitongda Network Co Ltd is about 0.6%, meaning it keeps roughly 0.6% 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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