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Radiance Holdings Group Co Ltd (9993) Fair Value & Analysis

Real Estate · HK · Market cap HK$4.3B

RH Radiance Holdings Group Co Ltd 9993 · HK
PriceHK$1.16
Fair ValueHK$1.31
Upside+13.4%
Quality31/100
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Weak Growth
Loss-making · -48.8% net margin
Moderate debt · negative free cash flow
Trails peers (3/10)
Narrow moat 1/100
Evidence: Low Range HK$0.9800 – HK$1.95 Share as image

Fair value as of: Aug 13, 2026

From 1 valuation models · updated 3 days ago

Fair value updated Aug 13, 2026, revised from HK$1.52 to HK$1.31 (−13.8%) since Aug 6, 2026. Share price +6.0% over the past month.

Below-average quality, screening 13% undervalued on our models.

What matters now

  • A fairly wide model range (HK$0.9800 to HK$1.95) leaves room in how you read the outcome.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

HK$5.20 HK$0.8600 Fair Value HK$1.31 Mar 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

60‑month range HK$0.8600 – HK$5.20 · fair‑value band HK$0.9800 – HK$1.95 · the HK$1.16 price screens below the HK$1.31 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Radiance Holdings Group Co Ltd (9993) currently trades at HK$1.16, while our model-based Fair Value estimate is HK$1.31, implying the stock looks roughly 13.4% undervalued today. The Quality Score stands at 31/100 (below-average quality), in the Real Estate 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: low), always confirm before acting.

Over the trailing twelve months, Radiance Holdings Group Co Ltd generated revenue of HK$14.2B at a net margin of -48.8%. Revenue declined 7.2% year over year. It earns a return on equity of -39.9%. Net debt stands at HK$22.4B. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.9800 (bear case) to HK$1.95 (bull case); at HK$1.16, 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 74% below its 52-week high and 36% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 15% fair-value upside, at 13%, 9993 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
NCAV (Graham) HK$0.9800 HK$1.31 HK$1.96 50
All 1 models by family
Asset-Based
NCAV (Graham) HK$0.9800 HK$1.31 HK$1.96 50

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Key figures & financial health

Revenue (TTM) HK$14.2B
Revenue growth (YoY) -7.2%
Net margin -48.8%
Return on equity -39.9%
Free cash flow −HK$506M FY2025
Operating margin -39.9%
More key figures
EPS (TTM) HK$-0.0600
EPS growth (YoY) -57.8%
Net debt HK$22.4B FY2025

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

Quality Score breakdown

Overall quality 31/100

Of which business quality 28 · Market factors (momentum, volatility) 24

Profitability 1
Margins and returns on capital today
Quality Growth 34
Are margins and returns improving?
Cashflow 3
Earnings quality: real cash, not paper profit
Fin. Strength 2
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 31
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 4
Distance to the 52-week high (market factor)
Net Issuance 82
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

Radiance Holdings (Group) Company Limited, an investment holding company, engages in property development business in Mainland China. The company develops and sells residential and commercial properties; and leases commercial properties, such as office buildings, shopping malls, and shopping streets.

Full company description

Radiance Holdings (Group) Company Limited, an investment holding company, engages in property development business in Mainland China. The company develops and sells residential and commercial properties; and leases commercial properties, such as office buildings, shopping malls, and shopping streets. It also provides management consulting services related to construction, sales and marketing of properties, and project management; and business management and hotel services. Radiance Holdings (Group) Company Limited was founded in 1996 and is headquartered in Beijing, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Radiance Holdings Group Co Ltd reported revenue of HK$13.8B in FY2025 versus HK$40.0B in FY2021, a compound −23.3%/yr. Reported net income was −HK$6.7B in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$13.8B
Latest YoY
−44.2%
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.
−26.8%
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.
−16.9%
Avg. growth/yr (8Y) 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.
+2.0%
Revenue −23.3%/yr
FY21 HK$40.0B
FY22 HK$35.3B
FY23 HK$34.2B
FY24 HK$24.8B
FY25 HK$13.8B
Net income
FY21 HK$3.3B
FY22 HK$1.7B
FY23 −HK$581M
FY24 −HK$9.1B
FY25 −HK$6.7B

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Cite: Fair Value Calculator (2026). "Radiance Holdings Group Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/9993

Peer Group

Real Estate - Development · 591 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 28 · Bottom 25%
Fair Value upside +13% · Above median
Return on assets -2% · Bottom 25%
Net margin (TTM) -49% · Bottom 25%
Operating margin (TTM) -40% · Bottom 25%
Revenue growth -7% · Below median
Debt / equity 1.28× · Higher than 75% of peers

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/B 0.07× · Cheaper than 75% of peers
P/S (TTM) 0.04× · Cheaper 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 51 · sector 47
FUTURE 0 · sector 0
PAST 0 · sector 10
HEALTH 36 · sector 85
DIVIDEND 0 · sector 58

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

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹661.75 ₹146.13 -78%
Lodha Developers Limited LODHA ₹1,209 ₹583.43 -52%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,150 IDR 1,330 IDR -78%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 595.00 IDR 1,488 IDR +150%
PT Sentul City Tbk, BKSL 73.00 IDR 84.16 IDR +15%
PT Ciputra Development Tbk, CTRA 610.00 IDR 1,525 IDR +150%
Khang Dien House Trading and Investment Joint Stock Company KDH 18,150 VND 20,338 VND +12%
PT Duta Pertiwi Tbk DUTI 4,300 IDR 6,239 IDR +45%
PT Puradelta Lestari Tbk DMAS 147.00 IDR 164.33 IDR +12%

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Frequently asked questions

Is Radiance Holdings Group Co Ltd (9993) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$1.31 versus a price of HK$1.16, about +13% (undervalued).
What is the fair value of 9993?
Our model-based fair value for Radiance Holdings Group Co Ltd is HK$1.31 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$1.16.
What is the quality score of 9993?
Radiance Holdings Group Co Ltd has a Quality Score of 31/100. 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 Radiance Holdings Group Co Ltd (9993)?
Radiance Holdings Group Co Ltd reported trailing-twelve-month revenue of about HK$14.2B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 9993?
The net profit margin of Radiance Holdings Group Co Ltd is about -48.8%, 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.

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