9990 (9990) Fair Value & Analysis

Communication Services · Market cap HK$1.6B

9 9990 9990 · HK

PriceHK$2.00

Fair ValueHK$0.4800

Upside-76.0%

Quality57/100

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Evidence: Low Range HK$0.4500 – HK$0.5100

Fair value as of: Jul 3, 2026

From 2 valuation models · updated today

Share price +1.5% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$1.41 – HK$2.68 · fair‑value band HK$0.4500 – HK$0.5100 · the HK$2.00 price screens above the HK$0.4800 fair value. As of Jul 3, 2026.

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Analysis

9990 (9990) currently trades at HK$2.00, while our model-based Fair Value estimate is HK$0.4800 — implying the stock looks roughly 76.0% overvalued today. We read business quality at 57/100 (solid quality), in the Communication Services 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, 9990 generated revenue of HK$1.3B at a net margin of -2.8%. Revenue declined 4.5% year over year. It earns a return on equity of -1.8%. The balance sheet holds a net cash position of HK$151M. Fundamentals as of Jul 3, 2026

Key figures & financial health

Revenue (TTM) HK$1.3B

Revenue growth (YoY) -4.5%

Net margin -2.8%

Return on equity -1.8%

Free cash flow −HK$73.2M FY2025

Operating margin -13.9%

More key figures

EPS (TTM) HK$-0.0100

EPS growth (YoY) -93.8%

Net cash HK$151M FY2025

Figures from reported company fundamentals (EODHD) · as of Jul 3, 2026. TTM = trailing twelve months.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

9990 reported revenue of HK$1.3B in FY2025 versus HK$921M in FY2021, a compound +9.1%/yr. Reported net income was −HK$36.7M in FY2025.

Revenue +9.1%/yr

FY21 HK$921M

FY22 HK$584M

FY23 HK$908M

FY24 HK$1.1B

FY25 HK$1.3B

Net income

FY21 −HK$303M

FY22 −HK$769M

FY23 −HK$316M

FY24 −HK$287M

FY25 −HK$36.7M

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6 more Electronic Gaming & Multimedia stocks, each showing price versus our Fair Value estimate (as of Jul 3, 2026).

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Frequently asked questions

Is 9990 (9990) undervalued?

As of Jul 3, 2026, our model estimates a fair value of HK$0.4800 versus a price of HK$2.00 — about −76% (overvalued). Model-based estimate, not financial advice.

What is the fair value of 9990?

Our model-based fair value for 9990 is HK$0.4800 (as of Jul 3, 2026), built from audited fundamentals. The current price is HK$2.00.

What is the quality score of 9990?

9990 has a Quality Score of 57/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 9990 (9990)?

9990 reported trailing-twelve-month revenue of about HK$1.3B (latest available figure, as of Jul 3, 2026).

What is the net profit margin of 9990?

The net profit margin of 9990 is about -2.8%, 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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.