Evidence and analysis
Research evidence pack
Source-backed valuation visuals
2. Company Fundamentals
2.3 Management
| Role | Metric |
|---|---|
| Consensus Rating | N/A |
2.4 Return
| Metric | Value |
|---|---|
| Expected Return (Ann.)* | 52.76% |
| Risk / Std Dev (Ann.)* | 72.41% |
| 1-Year Price Return* | 3.59% |
Latest Market Data (as of 2026-08-14, Hong Kong time):
| Metric | Value |
|---|---|
| Last Price | HK$59.05 |
| 52-Week Range | HK$52 – HK$84 |
| Observation Count | 55 trading days |
The return and risk statistics use daily adjusted closes from the retrieved one-year price series and annualise daily moments using 252 trading days. The last price is the latest regular-market price reported for the stated date. Source: Yahoo Finance market data.
DuPont Model Analysis
The DuPont model decomposes return on equity (ROE) into three operating and capital-structure drivers:
ROE = Net Margin × Asset Turnover × Equity Multiplier
The comparison uses the latest two comparable annual periods available for the issuer, with reported statement amounts shown in HK$. Revenue and net income are income-statement flows; total assets and shareholders’ equity are year-end balance-sheet figures. This is a simplified year-end-balance DuPont comparison rather than an average-balance ROE calculation.
| DuPont component | Calculation | FY2025 | FY2024 |
|---|---|---|---|
| Revenue | Reported revenue | HK$3.37B | HK$2.54B |
| Net income | Reported net income | HK$239.11M | HK$137.23M |
| Total assets | Year-end reported balance | HK$2.57B | HK$2.22B |
| Shareholders’ equity | Year-end reported balance | HK$1.27B | HK$1.04B |
| Net margin | Net income ÷ revenue | 7.10% | 5.40% |
| Asset turnover | Revenue ÷ total assets | 1.3086x | 1.1421x |
| Equity multiplier | Total assets ÷ shareholders’ equity | 2.0308x | 2.1453x |
| ROE | Net margin × asset turnover × equity multiplier | 18.87% | 13.23% |
Source: Yahoo Finance annual statements. Values are based on the two latest comparable annual periods returned by the source; fiscal period labels use the statement period-end year.
2.5 FCFF DCF Valuation
FCFF DCF exception: The modelled terminal-year FCFF is non-positive, so a perpetuity valuation would not be reliable. This post deliberately does not publish a mechanical enterprise value or implied per-share value on an unsuitable basis.
| Available valuation input | Value |
|---|---|
| Last market price | HK$76.50 |
| Market capitalisation | HK$16.03B |
| Revenue | HK$3.37B |
| EBIT | HK$255.50M |
| Reported free cash flow | -HK$155.34M |
| FCF yield | -0.97% |
| Net debt / EBITDA | -0.15x |
2.6 Investor-Style Research Screen
| Educational screen | Result |
|---|---|
| Buffett-inspired cash-quality checks | not rated — FCFF DCF suitability or data-integrity condition not met |
| Lynch-inspired balance-and-growth checks | not rated — FCFF DCF suitability or data-integrity condition not met |
Data lineage: Yahoo Finance public market and reported-statement data; retrieval timestamp: 2026-08-18 16:39:46.280994 UTC; latest reported fiscal period: 2025-12-31 00:00:00. Financial institutions and REITs require sector-specific methods rather than a mechanical FCFF DCF. This is research and analysis only, not personalized financial advice.
2.7 Quantitative Factor Diagnostics
Factor-model exception: No sufficiently aligned issuer-return and regional factor-return sample is available. No Fama–French loading or alpha estimate is published on an incomplete basis.