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.) | N/A |
| Risk / Std Dev (Ann.) | N/A |
Price Snapshot:
| Metric | Value |
|---|---|
| Last Price | N/A |
| Day Change | N/A (N/A%) |
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$37.18B | HK$36.18B |
| Net income | Reported net income | HK$1.86B | HK$3.76B |
| Total assets | Year-end reported balance | HK$32.02B | HK$31.34B |
| Shareholders’ equity | Year-end reported balance | HK$-8.10B | HK$-7.45B |
| Net margin | Net income ÷ revenue | 4.99% | 10.40% |
| Asset turnover | Revenue ÷ total assets | 1.1613x | 1.1543x |
| Equity multiplier | Total assets ÷ shareholders’ equity | -3.9547x | -4.2072x |
| ROE | Net margin × asset turnover × equity multiplier | -22.93% | -50.49% |
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: Missing verified DCF inputs: WACC, share count. 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$58.00 |
| Market capitalisation | NM |
| Revenue | HK$37.18B |
| EBIT | HK$3.05B |
| Reported free cash flow | HK$2.44B |
| FCF yield | NM |
| Net debt / EBITDA | 4.80x |
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 17:09:23.836880 UTC; latest reported fiscal period: 2025-09-30 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 verified adjusted-close issuer series is available for factor regression. No Fama–French loading or alpha estimate is published on an incomplete basis.