HK$4.72 ($0.60)

-0.07 (-1.56%)

Weekly Expected Move ±3.9%

HK$4 HK$5 HK$5 HK$5 HK$5

HKSE · Healthcare · Medical - Pharmaceuticals · Tech Score Neutral · Power 44 · HK$16.8B mcap · 1.26B float · 0.436% daily turnover

Overview Chart Financials Income Statement Cash Flow Balance Sheet Earnings

Analysis Technicals Weather Peers ETF Exposure

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

A-

Oct 05, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. 0512.HK receives an overall rating of A-. Strongest factors: DCF (5/5), ROA (5/5), P/B (4/5). Areas of concern: D/E (1/5).

Rating Change History

Date	From	To
2026-10-02	B+	A-
2026-09-29	A-	B+
2026-09-28	B+	A-
2026-09-15	A-	B+
2026-09-11	B+	A-
2026-09-09	A-	B+
2026-09-03	B+	A-
2026-08-10	A-	B+
2026-07-27	B+	A-
2026-07-23	A-	B+

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ 54 Grade A

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. 0512.HK scores highest in Value (88/100) and lowest in Growth (35/100). An overall grade of A places 0512.HK among the highest-quality companies in its peer group.

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score

2.34

Grey Zone

Piotroski F-Score

6/9

✓ ✓ ✗ ✗ ✓ ✓ ✓ ✗ ✓

Beneish M-Score

-2.20

Unlikely Manipulator

Ohlson O-Score

-9.56

Bankruptcy prob: 0.0%

Low Risk

Credit Rating

A+

Score: 75.1/100

Trend: Deteriorating

Earnings Quality

75/100

OCF/NI: 0.98x

Accruals: 0.3%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. 0512.HK scores 2.34, placing it in the Grey Zone (safe > 2.99, distress < 1.81). Financial distress is possible and warrants monitoring. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. 0512.HK scores 6/9, indicating moderate financial health — some areas of strength offset by weaknesses in others. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. 0512.HK's score of -2.20 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. 0512.HK's implied 0.0% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. 0512.HK receives an estimated rating of A+ (score: 75.1/100), with a deteriorating trend. The Earnings Quality score measures how well reported earnings are backed by real cash. It evaluates the operating cash flow to net income ratio (OCF/NI ≥ 1.0 means every dollar of earnings is cash-backed) and the accruals ratio (the gap between earnings and cash flow relative to assets — lower is better). 0512.HK's score of 75/100 is high — cash flows strongly support reported earnings.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

14.79x

PEG

-0.32x

P/S

1.32x

P/B

0.96x

P/FCF

8.61x

P/OCF

5.25x

EV/EBITDA

3.96x

EV/Revenue

0.83x

EV/EBIT

5.10x

EV/FCF

10.59x

Earnings Yield

19.52%

FCF Yield

11.61%

Shareholder Yield

9.10%

Graham Number

$10.09

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. At 14.8x earnings, 0512.HK trades at a reasonable valuation. An earnings yield of 19.5% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $10.09 per share, suggesting a potential 110% margin of safety at the current price.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

0.852

NI / EBT

Interest Burden

0.950

EBT / EBIT

EBIT Margin

0.164

EBIT / Rev

Asset Turnover

0.916

Rev / Assets

Equity Multiplier

1.608

Assets / Equity

ROE

19.5%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. 0512.HK's ROE of 19.5% is driven by Asset Turnover (0.916), indicating efficient use of assets to generate revenue.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Two adjustments we make, and why. Growth is capped at 15%. Graham defined g as expected growth over the next seven to ten years, not last year's rate. Across US companies since 1994 the median realized 7-year EPS growth is 5–8% regardless of how fast a company grew beforehand, and of 4,457 company-quarters that grew faster than 200%, none sustained it. Uncapped, the formula assigned fair multiples in the hundreds to companies that had never held that rate — and scored worse than simply reading the P/E. Capped, it carries real information. The verdict has three states, not two. Tested over 377,249 stock-months, this ratio only separates outcomes at its extremes: below 0.25 beat the universe by 1.3 points a year, above 3.0 lagged by 2.7, and everything in between sat inside a one-point band. Rather than call two-thirds of the market "undervalued" on a threshold of 1.0, we say Neutral where the model cannot tell — which is most of the time.

Adj. Growth Rate

10.99%

Fair P/E

30.47x

Intrinsic Value

$27.96

Price/Value

0.17x

Margin of Safety

83.19%

Premium

-83.19%

Assessment

Undervalued

Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with 0512.HK's realized 11.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. At an intrinsic value of $27.96, 0512.HK appears undervalued with a 83% margin of safety. The adjusted fair P/E of 30.5x compares to the current market P/E of 14.8x.

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1800 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$4.80

Median 1Y

$4.65

5th Pctile

$2.47

95th Pctile

$8.74

Ann. Volatility

38.6%

25th–75th percentile 5th–95th percentile Median path Historical

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
ROE	32.0%	36.6%	43.0%	48.3%	26.4%	30.7%	35.1%	39.9%	31.9%	35.9%	38.5%	37.5%	35.3%	32.4%	27.7%	32.8%	28.4%	28.4%	23.1%	19.5%	19.48%
ROA	7.4%	8.4%	9.9%	11.8%	11.4%	14.1%	17.0%	18.6%	19.3%	22.0%	24.1%	22.8%	22.8%	20.8%	18.2%	20.6%	18.4%	18.3%	14.9%	12.1%	12.12%
ROIC	16.3%	18.8%	20.9%	23.0%	14.9%	17.0%	18.5%	19.2%	20.0%	21.7%	21.0%	22.1%	23.9%	25.5%	26.9%	25.0%	22.6%	17.0%	13.7%	11.7%	11.67%
ROCE	21.5%	27.0%	30.6%	33.6%	21.4%	23.5%	24.3%	26.6%	25.8%	27.0%	29.9%	30.5%	34.3%	34.5%	31.4%	33.2%	30.2%	26.8%	23.9%	18.0%	18.04%
Gross Margin	50.7%	50.7%	53.1%	57.7%	47.5%	63.3%	58.7%	62.6%	64.4%	63.3%	58.4%	62.5%	61.9%	64.6%	58.5%	59.4%	56.2%	58.9%	51.5%	52.7%	52.71%
Operating Margin	12.3%	15.5%	12.6%	15.9%	13.8%	19.0%	16.4%	24.4%	22.8%	23.0%	22.9%	25.7%	28.8%	25.6%	24.9%	22.7%	13.3%	11.7%	5.3%	17.5%	17.49%
Net Margin	8.3%	9.1%	10.2%	9.7%	14.6%	15.2%	20.1%	22.1%	34.7%	26.3%	29.8%	13.6%	31.5%	17.2%	18.7%	25.8%	16.3%	19.1%	1.2%	16.6%	16.62%
EBITDA Margin	20.7%	20.6%	20.7%	19.7%	25.3%	24.6%	33.2%	30.6%	37.6%	34.3%	38.1%	23.0%	43.5%	27.3%	29.3%	35.5%	23.9%	23.8%	13.8%	23.0%	22.96%
FCF Margin	6.6%	9.8%	10.1%	4.6%	13.6%	14.0%	12.9%	18.4%	14.7%	16.9%	18.8%	16.5%	9.6%	7.4%	10.3%	8.0%	13.4%	10.9%	8.3%	7.9%	7.88%
OCF Margin	18.3%	20.1%	17.7%	10.9%	19.8%	20.0%	20.7%	25.8%	22.9%	25.5%	26.1%	24.7%	22.2%	18.9%	20.6%	17.0%	17.8%	14.9%	13.5%	12.9%	12.92%
ROE 3Y Avg	snapshot only																				26.67%
ROE 5Y Avg	snapshot only																				28.25%
ROA 3Y Avg	snapshot only																				16.68%
ROIC 3Y Avg	snapshot only																				18.71%
ROIC Economic	snapshot only																				11.25%
Cash ROA	snapshot only																				11.15%
Cash ROIC	snapshot only																				14.90%
CROIC	snapshot only																				9.08%
NOPAT Margin	snapshot only																				10.12%
Pretax Margin	snapshot only																				15.54%
R&D / Revenue	snapshot only																				4.34%
SGA / Revenue	snapshot only																				39.40%
SBC / Revenue	snapshot only																				0.00%

Valuation

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
P/E Ratio	1.25	7.14	10.47	12.04	7.60	7.88	6.38	6.84	6.89	6.13	4.67	3.36	3.17	3.29	3.28	3.25	3.70	6.80	7.41	5.12	14.789
P/S Ratio	0.08	0.54	0.90	1.13	0.83	0.99	0.95	1.23	1.57	1.59	1.31	0.83	0.78	0.72	0.65	0.75	0.72	1.37	1.15	0.68	1.321
P/B Ratio	0.33	2.10	3.42	4.24	1.24	1.51	1.42	1.78	1.81	1.82	1.46	1.03	1.01	0.98	0.86	0.99	0.98	1.78	1.62	0.95	0.962
P/FCF	1.23	5.50	8.96	24.62	6.11	7.07	7.32	6.70	10.70	9.40	7.00	5.02	8.17	9.81	6.28	9.37	5.42	12.53	13.79	8.61	8.610
P/OCF	0.44	2.68	5.11	10.39	4.19	4.97	4.58	4.78	6.85	6.23	5.03	3.36	3.52	3.83	3.13	4.38	4.07	9.20	8.52	5.25	5.249
EV/EBITDA	2.43	4.51	5.91	6.88	4.60	4.90	3.97	4.70	5.03	4.61	3.87	2.91	2.62	2.59	2.30	2.54	2.69	5.31	5.20	3.96	3.956
EV/Revenue	0.44	0.88	1.19	1.40	0.99	1.11	1.01	1.33	1.57	1.57	1.36	0.94	0.89	0.83	0.69	0.85	0.78	1.50	1.26	0.83	0.834
EV/EBIT	3.59	6.43	8.11	9.04	5.80	5.95	5.11	5.89	6.20	5.56	4.39	3.31	2.97	2.95	2.64	2.90	3.13	6.28	6.34	5.10	5.099
EV/FCF	6.74	8.94	11.81	30.35	7.26	7.89	7.82	7.24	10.70	9.28	7.27	5.68	9.31	11.22	6.73	10.69	5.86	13.68	15.12	10.59	10.589
Earnings Yield	80.2%	14.0%	9.6%	8.3%	13.2%	12.7%	15.7%	14.6%	14.5%	16.3%	21.4%	29.8%	31.5%	30.4%	30.5%	30.8%	27.1%	14.7%	13.5%	19.5%	19.52%
FCF Yield	81.5%	18.2%	11.2%	4.1%	16.4%	14.1%	13.7%	14.9%	9.3%	10.6%	14.3%	19.9%	12.2%	10.2%	15.9%	10.7%	18.5%	8.0%	7.2%	11.6%	11.61%
Price/Tangible Book	snapshot only																				1.356
EV/OCF	snapshot only																				6.456
EV/Gross Profit	snapshot only																				1.522
Acquirers Multiple	snapshot only																				6.973
Shareholder Yield	snapshot only																				9.10%
Graham Number	snapshot only																				$10.09

Leverage & Solvency

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Current Ratio	0.79	0.76	0.74	0.90	0.69	0.92	1.06	0.99	1.24	1.53	1.22	1.13	1.07	1.08	1.22	1.29	1.22	1.20	1.14	1.34	1.341
Quick Ratio	0.58	0.58	0.55	0.74	0.54	0.74	0.84	0.81	1.01	1.34	1.02	0.95	0.86	0.91	0.98	1.09	1.01	0.99	0.93	1.10	1.099
Debt/Equity	1.77	1.56	1.38	1.34	0.37	0.31	0.25	0.31	0.21	0.24	0.27	0.26	0.32	0.29	0.22	0.29	0.27	0.27	0.28	0.29	0.293
Net Debt/Equity	1.48	1.32	1.09	0.99	0.23	0.17	0.10	0.14	0.00	-0.02	0.06	0.14	0.14	0.14	0.06	0.14	0.08	0.16	0.15	0.22	0.219
Debt/Assets	0.42	0.40	0.38	0.38	0.20	0.18	0.15	0.18	0.14	0.15	0.17	0.17	0.20	0.19	0.15	0.18	0.18	0.17	0.17	0.18	0.180
Debt/EBITDA	2.38	2.05	1.81	1.76	1.15	0.90	0.65	0.77	0.59	0.61	0.69	0.66	0.72	0.68	0.56	0.65	0.69	0.74	0.81	0.99	0.987
Net Debt/EBITDA	1.99	1.74	1.42	1.30	0.73	0.51	0.25	0.35	0.00	-0.06	0.15	0.34	0.32	0.33	0.15	0.31	0.20	0.45	0.45	0.74	0.739
Interest Coverage	—	—	—	—	—	26.39	16.98	13.88	12.50	19.52	22.26	22.48	23.71	17.19	15.39	16.81	14.42	15.06	13.87	11.91	11.913
Equity Multiplier	4.20	3.91	3.61	3.50	1.88	1.74	1.65	1.73	1.51	1.56	1.57	1.60	1.58	1.55	1.49	1.58	1.52	1.54	1.60	1.63	1.629
Cash Ratio	snapshot only																				0.208
Debt Service Coverage	snapshot only																				15.355
Cash to Debt	snapshot only																				0.251
FCF to Debt	snapshot only																				0.378
Defensive Interval	snapshot only																				237.1 days

Efficiency & Turnover

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Asset Turnover	1.14	1.11	1.15	1.25	1.04	1.12	1.15	1.03	0.85	0.85	0.86	0.92	0.92	0.95	0.92	0.90	0.94	0.91	0.96	0.92	0.916
Inventory Turnover	6.69	6.76	6.15	7.22	7.23	7.39	6.79	6.73	5.65	6.62	5.87	6.67	6.06	7.65	6.08	6.76	6.57	7.37	7.25	7.92	7.916
Receivables Turnover	13.27	8.10	12.33	9.60	13.20	9.67	10.89	9.92	10.62	8.02	9.36	9.07	10.61	8.29	14.58	7.23	14.44	6.76	10.79	6.23	6.230
Payables Turnover	5.69	6.08	6.64	5.57	5.79	8.01	7.32	6.20	5.68	6.93	7.23	5.84	9.07	8.02	7.38	5.37	8.53	7.02	6.61	6.17	6.170
DSO	28	45	30	38	28	38	34	37	34	46	39	40	34	44	25	51	25	54	34	59	58.6 days
DIO	55	54	59	51	50	49	54	54	65	55	62	55	60	48	60	54	56	50	50	46	46.1 days
DPO	64	60	55	65	63	46	50	59	64	53	50	63	40	45	49	68	43	52	55	59	59.2 days
Cash Conversion Cycle	18	39	34	23	15	42	37	32	35	48	51	32	54	46	36	37	38	51	29	46	45.5 days
Fixed Asset Turnover	snapshot only																				4.785
Operating Cycle	snapshot only																				104.7 days
Cash Velocity	snapshot only																				19.122
Capital Intensity	snapshot only																				1.158

Growth (YoY)

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Revenue	20.1%	26.7%	33.0%	52.1%	54.6%	57.6%	48.2%	26.7%	20.6%	15.6%	19.1%	34.5%	40.3%	40.7%	34.4%	23.8%	22.1%	13.8%	19.1%	16.0%	15.98%
Net Income	63.7%	80.4%	1.0%	1.3%	1.6%	1.6%	1.6%	1.4%	1.5%	1.4%	1.3%	84.7%	52.3%	19.7%	-5.6%	14.8%	-3.0%	4.2%	-6.3%	-33.2%	-33.16%
EPS	40.5%	60.4%	82.3%	1.0%	1.0%	1.1%	87.6%	80.8%	1.2%	1.1%	1.1%	77.1%	51.1%	20.2%	-4.4%	15.3%	-2.5%	5.1%	-6.3%	-33.0%	-33.05%
FCF	2.7%	3.3%	9.9%	1.4%	2.2%	1.3%	90.3%	4.1%	29.9%	39.0%	72.7%	21.0%	-8.2%	-38.4%	-26.2%	-40.5%	70.4%	68.6%	-3.7%	14.7%	14.75%
EBITDA	67.5%	66.9%	67.2%	77.5%	81.8%	83.2%	87.7%	76.5%	75.0%	73.6%	64.5%	53.6%	53.5%	32.7%	15.1%	28.2%	4.2%	0.1%	-4.3%	-27.0%	-26.99%
Op. Income	66.4%	72.3%	71.0%	89.3%	91.2%	88.8%	83.8%	65.3%	71.6%	61.3%	68.0%	71.4%	70.5%	65.8%	51.3%	31.7%	4.8%	-21.5%	-39.9%	-45.1%	-45.10%
OCF Growth	snapshot only																				-11.97%
Asset Growth	snapshot only																				12.88%
Equity Growth	snapshot only																				9.80%
Debt Growth	snapshot only																				11.21%
Shares Change	snapshot only																				-0.17%
Dividend Growth	snapshot only																				5.68%

Growth (CAGR)

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Revenue 3Y	63.1%	52.6%	46.3%	45.7%	42.5%	41.9%	38.6%	33.2%	30.8%	32.2%	32.9%	37.4%	37.8%	36.9%	33.4%	28.2%	27.4%	22.8%	24.0%	24.5%	24.53%
Revenue 5Y	1.4%	1.4%	1.5%	1.2%	1.0%	84.2%	72.8%	59.8%	51.9%	45.3%	40.8%	39.5%	37.4%	36.0%	33.6%	31.5%	30.9%	29.9%	30.3%	30.1%	30.06%
EPS 3Y	30.1%	44.5%	55.1%	78.7%	83.4%	1.0%	86.5%	96.0%	85.0%	91.3%	94.2%	86.1%	89.5%	73.7%	56.6%	54.5%	48.0%	39.0%	24.3%	11.0%	10.99%
EPS 5Y	—	—	—	—	—	—	1.8%	61.3%	58.2%	67.5%	71.9%	78.8%	83.0%	84.3%	67.8%	72.7%	56.3%	54.6%	45.7%	37.9%	37.86%
Net Income 3Y	52.7%	57.1%	68.6%	94.3%	1.1%	1.4%	1.2%	1.3%	1.2%	1.2%	1.3%	1.2%	1.2%	95.5%	75.7%	72.6%	54.7%	43.6%	25.8%	12.3%	12.33%
Net Income 5Y	—	—	—	—	—	—	2.4%	89.6%	87.7%	89.1%	94.1%	1.0%	1.1%	1.1%	88.4%	94.0%	73.7%	69.6%	59.8%	51.2%	51.20%
EBITDA 3Y	55.4%	59.2%	59.0%	67.4%	77.0%	80.1%	82.8%	78.1%	74.7%	74.4%	72.8%	68.8%	69.7%	61.6%	52.6%	51.5%	40.9%	32.1%	21.9%	12.8%	12.84%
EBITDA 5Y	—	—	—	—	—	1.5%	1.0%	79.6%	64.2%	66.6%	65.5%	66.3%	71.6%	68.2%	63.2%	61.9%	53.5%	47.8%	41.6%	35.1%	35.12%
Gross Profit 3Y	70.2%	68.5%	67.9%	73.1%	69.4%	72.1%	67.5%	60.2%	57.1%	56.4%	53.9%	56.8%	53.7%	49.8%	43.6%	34.0%	33.0%	24.4%	23.4%	21.8%	21.77%
Gross Profit 5Y	1.4%	1.5%	1.5%	1.3%	1.1%	94.0%	82.0%	71.8%	66.8%	62.9%	59.8%	59.3%	57.4%	55.8%	52.1%	48.2%	44.8%	41.7%	39.7%	37.3%	37.30%
Op. Income 3Y	50.6%	57.8%	53.4%	68.9%	76.5%	81.9%	81.3%	77.8%	76.1%	73.8%	74.2%	75.0%	77.5%	71.5%	67.2%	55.1%	45.3%	28.0%	15.2%	7.4%	7.40%
Op. Income 5Y	49.5%	47.9%	83.3%	90.6%	95.8%	77.3%	1.0%	75.5%	62.1%	64.3%	62.0%	68.7%	74.3%	74.3%	72.2%	66.2%	57.7%	46.8%	36.9%	31.1%	31.11%
FCF 3Y	35.0%	1.9%	—	—	—	—	—	—	—	—	2.3%	1.5%	56.1%	24.5%	34.4%	53.9%	26.6%	13.0%	7.1%	-6.2%	-6.16%
FCF 5Y	—	—	—	—	—	1.3%	91.0%	79.2%	59.1%	1.4%	—	—	—	—	—	—	—	—	91.0%	58.8%	58.82%
OCF 3Y	71.7%	90.1%	96.9%	63.0%	91.2%	96.8%	33.8%	53.9%	32.7%	47.3%	58.8%	50.8%	47.0%	34.1%	40.5%	48.7%	22.9%	11.3%	7.5%	-1.1%	-1.15%
OCF 5Y	—	—	—	—	1.9%	1.1%	93.7%	79.7%	63.8%	73.8%	81.9%	75.7%	67.7%	63.6%	30.8%	31.9%	25.5%	24.5%	27.1%	20.8%	20.76%
Assets 3Y	61.8%	51.7%	49.1%	42.0%	59.1%	49.2%	44.6%	47.2%	50.4%	45.5%	47.0%	48.6%	46.3%	43.2%	40.8%	39.0%	22.8%	24.3%	25.3%	23.0%	23.04%
Assets 5Y	1.0%	1.0%	1.1%	1.2%	88.3%	86.6%	86.7%	61.7%	58.7%	53.9%	54.0%	46.3%	46.2%	40.2%	37.6%	39.4%	38.0%	34.0%	32.6%	33.6%	33.58%
Equity 3Y	44.2%	48.2%	51.8%	57.9%	1.1%	1.1%	1.1%	1.1%	1.2%	1.2%	1.3%	1.2%	1.0%	94.7%	89.3%	81.0%	31.8%	29.4%	26.7%	25.5%	25.55%
Book Value 3Y	22.8%	36.3%	39.6%	45.2%	82.7%	82.7%	77.0%	75.5%	81.4%	85.2%	93.0%	91.0%	78.4%	73.0%	68.8%	62.0%	26.1%	25.2%	25.1%	24.0%	24.05%
Dividend 3Y	—	—	—	—	—	—	—	—	—	15.3%	15.4%	33.7%	-4.5%	-4.5%	-4.3%	-2.8%	16.3%	22.9%	25.6%	0.6%	0.58%

Growth Quality

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Revenue Stability	0.96	0.98	0.99	0.97	0.97	0.96	0.97	0.98	0.98	0.97	0.97	0.96	0.95	0.95	0.96	0.98	0.97	0.98	0.99	1.00	0.995
Earnings Stability	0.95	0.90	0.88	0.81	0.79	0.76	0.75	0.73	0.72	0.74	0.75	0.82	0.86	0.89	0.88	0.93	0.92	0.93	0.81	0.70	0.703
Margin Stability	0.86	0.83	0.81	0.79	0.80	0.78	0.79	0.78	0.77	0.76	0.75	0.75	0.74	0.75	0.76	0.78	0.80	0.82	0.84	0.85	0.851
Rev. Growth Consistency	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.000
Earn. Growth Consistency	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.00	1.00	0.00	1.00	0.00	0.00	0.000
FCF Positive Streak	0	0	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Earnings Persistence	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.92	0.98	0.94	0.99	0.98	0.97	0.87	0.867
Earnings Smoothness	0.52	0.43	0.31	0.21	0.11	0.10	0.13	0.17	0.14	0.18	0.23	0.40	0.59	0.82	0.94	0.86	0.97	0.96	0.93	0.60	0.602
ROE Trend	0.06	0.09	0.08	0.09	-0.09	-0.09	-0.09	-0.08	0.05	0.05	0.04	0.00	0.10	0.05	-0.01	0.02	-0.03	-0.04	-0.07	-0.12	-0.121
Gross Margin Trend	0.11	0.13	0.14	0.16	0.12	0.14	0.12	0.11	0.14	0.11	0.09	0.06	0.04	0.03	0.02	0.01	-0.02	-0.04	-0.06	-0.07	-0.069
FCF Margin Trend	0.19	0.23	0.18	0.09	0.13	0.12	0.07	0.15	0.05	0.05	0.07	0.05	-0.05	-0.08	-0.06	-0.10	0.01	-0.01	-0.06	-0.04	-0.044
Sustainable Growth Rate	32.0%	36.6%	43.0%	48.3%	26.4%	24.8%	29.7%	34.8%	25.3%	28.7%	32.0%	27.6%	29.1%	25.7%	21.5%	23.1%	19.2%	16.9%	11.7%	10.4%	10.40%
Internal Growth Rate	8.0%	9.1%	11.0%	13.3%	12.8%	12.9%	16.8%	19.4%	18.0%	21.4%	24.9%	20.1%	23.1%	19.8%	16.4%	17.0%	14.2%	12.2%	8.2%	6.9%	6.92%

Cash Flow Quality

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
OCF/Net Income	2.83	2.66	2.05	1.16	1.81	1.59	1.39	1.43	1.01	0.98	0.93	1.00	0.90	0.86	1.05	0.74	0.91	0.74	0.87	0.98	0.976
FCF/OCF	0.36	0.49	0.57	0.42	0.69	0.70	0.63	0.71	0.64	0.66	0.72	0.67	0.43	0.39	0.50	0.47	0.75	0.73	0.62	0.61	0.610
FCF/Net Income	snapshot only																				0.595
OCF/EBITDA	snapshot only																				0.613
CapEx/Revenue	11.7%	10.3%	7.6%	6.3%	6.2%	5.9%	7.7%	7.4%	8.2%	8.6%	7.3%	8.2%	12.7%	11.5%	10.7%	9.5%	4.8%	4.7%	5.5%	5.4%	5.35%
CapEx/Depreciation	snapshot only																				1.132
Accruals Ratio	-0.14	-0.14	-0.10	-0.02	-0.09	-0.08	-0.07	-0.08	-0.00	0.00	0.02	0.00	0.02	0.03	-0.01	0.05	0.02	0.05	0.02	0.00	0.003
Sloan Accruals	snapshot only																				-0.034
Cash Flow Adequacy	snapshot only																				1.121
Earnings Quality Score	snapshot only																				0.750

Dividends & Buybacks

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Dividend Yield	0.0%	0.0%	0.0%	0.0%	0.0%	2.4%	2.4%	1.9%	3.0%	3.2%	3.7%	7.9%	5.5%	6.3%	6.8%	9.1%	8.8%	6.0%	6.6%	9.1%	3.57%
Dividend/Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.09	$0.09	$0.09	$0.18	$0.20	$0.20	$0.31	$0.22	$0.25	$0.25	$0.40	$0.40	$0.52	$0.52	$0.43	$0.17
Payout Ratio	0.0%	0.0%	0.0%	0.0%	0.0%	19.2%	15.6%	12.8%	20.9%	19.9%	17.1%	26.5%	17.5%	20.6%	22.4%	29.5%	32.4%	40.6%	49.1%	46.6%	46.62%
FCF Payout Ratio	0.0%	0.0%	0.0%	0.0%	0.0%	17.2%	17.9%	12.6%	32.4%	30.5%	25.6%	39.6%	45.0%	61.5%	42.9%	85.2%	47.4%	74.7%	91.4%	78.4%	78.36%
Total Payout Ratio	0.0%	0.0%	0.0%	0.0%	0.0%	19.2%	15.6%	12.8%	21.7%	20.6%	21.1%	31.5%	21.7%	26.8%	25.6%	31.3%	34.2%	40.6%	49.1%	46.6%	46.62%
Div. Increase Streak	—	—	—	—	—	0	0	0	0	1	1	1	1	1	1	1	1	1	1	1	1
Chowder Number	—	—	—	—	—	—	—	—	—	1.50	1.51	2.89	0.33	0.30	0.31	0.37	0.88	1.11	1.12	0.15	0.146
Buyback Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.1%	0.1%	0.9%	1.5%	1.3%	1.9%	1.0%	0.5%	0.5%	0.0%	0.0%	0.0%	0.00%
Net Buyback Yield	0.0%	0.0%	0.0%	0.0%	0.0%	-0.9%	-0.9%	-0.7%	-5.4%	-4.5%	-4.3%	-5.7%	1.2%	1.8%	0.9%	0.5%	0.5%	0.0%	0.0%	0.0%	0.00%
Total Shareholder Return	0.0%	0.0%	0.0%	0.0%	0.0%	1.6%	1.6%	1.2%	-2.4%	-1.2%	-0.6%	2.2%	6.7%	8.0%	7.7%	9.6%	9.3%	6.0%	6.6%	9.1%	9.10%

DuPont Factors

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Tax Burden (NI/EBT)	0.81	0.80	0.84	0.81	0.81	0.82	0.87	0.89	0.90	0.91	0.90	0.87	0.86	0.83	0.80	0.83	0.84	0.86	0.86	0.85	0.852
Interest Burden (EBT/EBIT)	0.65	0.69	0.70	0.75	0.79	0.83	0.86	0.89	1.00	1.01	1.01	1.01	0.96	0.94	0.94	0.94	0.94	0.98	0.91	0.95	0.950
EBIT Margin	0.12	0.14	0.15	0.15	0.17	0.19	0.20	0.23	0.25	0.28	0.31	0.28	0.30	0.28	0.26	0.29	0.25	0.24	0.20	0.16	0.164
Asset Turnover	1.14	1.11	1.15	1.25	1.04	1.12	1.15	1.03	0.85	0.85	0.86	0.92	0.92	0.95	0.92	0.90	0.94	0.91	0.96	0.92	0.916
Equity Multiplier	4.31	4.38	4.33	4.10	2.32	2.17	2.06	2.14	1.65	1.63	1.60	1.65	1.55	1.56	1.53	1.59	1.55	1.55	1.54	1.61	1.608

Per Share

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
EPS (Diluted TTM)	$0.19	$0.23	$0.29	$0.37	$0.38	$0.48	$0.55	$0.67	$0.84	$1.01	$1.18	$1.19	$1.27	$1.22	$1.13	$1.37	$1.24	$1.28	$1.06	$0.92	$0.92
Book Value/Share	$0.71	$0.79	$0.90	$1.05	$2.35	$2.49	$2.48	$2.58	$3.22	$3.42	$3.78	$3.86	$4.02	$4.09	$4.33	$4.48	$4.70	$4.90	$4.86	$4.93	$4.96
Tangible Book/Share	$0.18	$0.26	$0.34	$0.51	$1.92	$1.91	$1.96	$2.06	$2.68	$2.86	$3.16	$3.23	$3.25	$3.30	$3.69	$3.53	$3.62	$3.60	$3.45	$3.47	$3.47
Revenue/Share	$2.89	$3.08	$3.41	$3.94	$3.50	$3.79	$3.72	$3.72	$3.71	$3.92	$4.22	$4.80	$5.16	$5.54	$5.74	$5.97	$6.33	$6.37	$6.83	$6.93	$3.59
FCF/Share	$0.19	$0.30	$0.34	$0.18	$0.48	$0.53	$0.48	$0.68	$0.54	$0.66	$0.79	$0.79	$0.49	$0.41	$0.59	$0.47	$0.85	$0.70	$0.57	$0.55	$0.24
OCF/Share	$0.53	$0.62	$0.60	$0.43	$0.69	$0.76	$0.77	$0.96	$0.85	$1.00	$1.10	$1.19	$1.15	$1.05	$1.18	$1.02	$1.13	$0.95	$0.92	$0.90	$0.44
Cash/Share	$0.21	$0.19	$0.27	$0.37	$0.31	$0.34	$0.37	$0.45	$0.68	$0.89	$0.81	$0.49	$0.71	$0.62	$0.71	$0.67	$0.90	$0.52	$0.60	$0.36	$0.36
EBITDA/Share	$0.53	$0.60	$0.69	$0.80	$0.75	$0.86	$0.95	$1.05	$1.16	$1.33	$1.48	$1.55	$1.76	$1.77	$1.73	$2.00	$1.84	$1.79	$1.66	$1.46	$1.46
Debt/Share	$1.26	$1.23	$1.24	$1.41	$0.86	$0.77	$0.61	$0.81	$0.68	$0.81	$1.03	$1.02	$1.27	$1.20	$0.97	$1.29	$1.27	$1.32	$1.35	$1.44	$1.44
Net Debt/Share	$1.05	$1.04	$0.98	$1.04	$0.55	$0.44	$0.24	$0.37	$0.00	$-0.08	$0.22	$0.52	$0.57	$0.58	$0.27	$0.62	$0.37	$0.80	$0.75	$1.08	$1.08

Academic Models

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	2.337
Altman Z-Prime	snapshot only																				3.043
Piotroski F-Score	5	7	7	8	6	8	8	7	8	6	4	6	4	6	8	6	6	6	3	6	6
Beneish M-Score	-1.90	-2.31	-2.37	-1.65	-2.03	-2.13	-2.18	-2.44	-2.39	-2.16	-1.92	-1.79	-1.93	-1.96	-2.42	-1.71	-2.14	-1.95	-1.52	-2.20	-2.205
Ohlson O-Score	snapshot only																				-9.557
ROIC (Greenblatt)	snapshot only																				55.45%
Net-Net WC	snapshot only																				$-0.73
EVA	snapshot only																				$351179729.32

Credit

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Credit Rating	snapshot only																				A+
Credit Score	47.18	53.50	54.93	60.08	72.82	83.02	86.19	84.78	87.59	88.46	86.91	86.98	84.26	82.77	86.07	83.79	85.57	94.33	81.72	75.10	75.101
Credit Grade	snapshot only																				5
Credit Trend	snapshot only																				-8.685
Implied Spread (bps)	snapshot only																				125.000
Industry Credit Rank	snapshot only																				71
Sector Credit Rank	snapshot only																				74

0512.HK HKSE

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

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