C&D International Investment Group Limited

SZSC:1908 Stock Report

Market Cap: HK$28.7b

C&D International Investment Group Valuation

Is 1908 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 1908 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 1908 (HK$14.24) is trading below our estimate of fair value (HK$18.62)

Significantly Below Fair Value: 1908 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 1908?

Key metric: As 1908 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 1908. This is calculated by dividing 1908's market cap by their current earnings.
What is 1908's PE Ratio?
PE Ratio6.9x
EarningsCN¥3.87b
Market CapCN¥26.67b

Price to Earnings Ratio vs Peers

How does 1908's PE Ratio compare to its peers?

The above table shows the PE ratio for 1908 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average43.9x
123 Yuexiu Property
7.8x9.1%HK$23.8b
3900 Greentown China Holdings
8.4x5.9%HK$23.6b
754 Hopson Development Holdings
140.4xn/aHK$13.0b
34 Kowloon Development
19.1xn/aHK$5.1b
1908 C&D International Investment Group
6.9x11.7%HK$28.7b

Price-To-Earnings vs Peers: 1908 is good value based on its Price-To-Earnings Ratio (6.9x) compared to the peer average (43.9x).

Price to Earnings Ratio vs Industry

How does 1908's PE Ratio compare vs other companies in the HK Real Estate Industry?

6 CompaniesPrice / EarningsEstimated GrowthMarket Cap
29 Dynamic Holdings
0.3xn/aUS$227.42m
3883 China Aoyuan Group
0.07xn/aUS$153.39m
2768 Jiayuan International Group
1.4x31.6%US$151.18m
2117 Datang Group Holdings
1.2xn/aUS$87.18m
1908 6.9xIndustry Avg. 7.3xNo. of Companies16PE0612182430+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 1908 is good value based on its Price-To-Earnings Ratio (6.9x) compared to the Hong Kong Real Estate industry average (7.3x).

Price to Earnings Ratio vs Fair Ratio

What is 1908's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

1908 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.9x
Fair PE Ratio10.9x

Price-To-Earnings vs Fair Ratio: 1908 is good value based on its Price-To-Earnings Ratio (6.9x) compared to the estimated Fair Price-To-Earnings Ratio (10.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 1908 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentHK$14.24
HK$16.65
+17.0%
13.1%HK$20.55HK$12.62n/a8
Nov ’25HK$14.84
HK$16.89
+13.8%
13.1%HK$20.84HK$12.80n/a8
Oct ’25HK$16.84
HK$16.89
+0.3%
12.8%HK$21.13HK$12.98n/a8
Sep ’25HK$12.62
HK$16.87
+33.7%
12.6%HK$20.70HK$12.83n/a8
Aug ’25HK$12.58
HK$18.88
+50.1%
8.9%HK$22.68HK$16.94n/a7
Jul ’25HK$14.52
HK$20.17
+38.9%
11.0%HK$23.20HK$16.91n/a6
Jun ’25HK$15.76
HK$20.21
+28.3%
10.8%HK$23.16HK$16.96n/a6
May ’25HK$15.62
HK$19.18
+22.8%
10.3%HK$23.17HK$16.97n/a6
Apr ’25HK$13.66
HK$18.95
+38.7%
12.0%HK$23.21HK$16.00n/a6
Mar ’25HK$12.34
HK$24.03
+94.8%
12.3%HK$28.27HK$18.76n/a6
Feb ’25HK$12.96
HK$24.93
+92.4%
13.0%HK$28.42HK$18.86n/a6
Jan ’25HK$16.64
HK$25.67
+54.3%
12.3%HK$28.46HK$18.89n/a6
Dec ’24HK$16.02
HK$28.30
+76.7%
11.7%HK$35.40HK$25.91n/a6
Nov ’24HK$17.46
HK$27.81
+59.3%
11.6%HK$34.73HK$25.42HK$14.846
Oct ’24HK$19.06
HK$28.49
+49.5%
12.1%HK$35.10HK$25.69HK$16.845
Sep ’24HK$19.96
HK$28.49
+42.7%
12.1%HK$35.10HK$25.69HK$12.625
Aug ’24HK$21.45
HK$29.04
+35.4%
11.9%HK$35.00HK$25.41HK$12.585
Jul ’24HK$17.76
HK$29.35
+65.3%
9.6%HK$33.44HK$25.52HK$14.524
Jun ’24HK$18.00
HK$31.26
+73.7%
6.6%HK$34.13HK$29.44HK$15.763
May ’24HK$24.05
HK$31.59
+31.4%
7.1%HK$34.76HK$30.00HK$15.623
Apr ’24HK$25.75
HK$30.56
+18.7%
5.1%HK$32.14HK$28.99HK$13.662
Mar ’24HK$26.25
HK$30.56
+16.4%
5.1%HK$32.14HK$28.99HK$12.342

Analyst Forecast: Target price is less than 20% higher than the current share price.

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