Greater Bay Area AI Computing Tech Co., Ltd.

1396.HK · Technology · Information Technology Services · Valued as of 2026-11-03 · Statements 2025-12-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

658.11M USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

658.11M USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

658.11M USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

658.11M USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

2.07B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.32×

the ratio the screener ranks by

Margin of Safety

-214.9%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 658.11M USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).

The earnings power value was not computed (a NOPAT at or below zero this year), so the value is the book value today, 658.11M USD.

Market value

Market Cap2.07B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-214.9%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 658.11M USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.

The projection was not made (a profit at or below zero in the latest three years), so the value is the book value today, 658.11M USD, as the screener leaves it.

①Present Value of the 15 Years of FCFE

Not in the value

②Equity at Year 15, Today

Not in the value

Market value

Market Cap2.07B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-214.9%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 658.11M USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).

The projection was not made (an operating profit at or below zero in the latest three years), so the value is the book value today, 658.11M USD, as the screener leaves it.

①Present Value of the 15 Years of FCFF

Not in the value

②Invested Capital at Year 15, Today

Not in the value

③Net Debt Today

Not in the value

Market value

Market Cap2.07B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-214.9%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 16.49%
Cost of Equity =Risk-Free Rate 4.50%+Beta 3.01×Market Risk Premium 6.00%= 22.55%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 12.36M USDPretax Income 20.38M USD= 60.63%

The tax the interest saves.

Interest Expense =EBIT 31.49M USD−Pretax Income 20.38M USD= 11.12M USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 11.12M USDTotal Debt 787.95M USD×(1 − Tax Rate for WACC 60.63%)= 0.56%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 787.95M USDMarket Cap + Total Debt 2.07B USD + 787.95M USD= 27.55%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 72.45%×Cost of Equity 22.55%+Debt Weight 27.55%×Cost of Debt 0.56%= 16.49%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-06-30.

Total Assets 2.48B USD − Total Liabilities 1.82B USD = Book Value Today 658.11M USD

Total Debt 787.95M USD − Cash and Short-Term Investments 169.50M USD = Net Debt Today 618.46M USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 1212.9%at most 5%does not pass1,560,084,673 / 498,581,340
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets1.8%at least -10.0%passes(54.15M USD − 10.45M USD) ÷ 2.48B USD
Price to bookMarket Cap ÷ Book Value Today3.15×at most 3×does not pass2.07B USD ÷ 658.11M USD
Operating marginOperating Income ÷ Revenue-10.9%above 10.0%does not pass-15.67M USD ÷ 143.44M USD
Revenue growthRevenue ÷ Revenue a Year Before − 1-59.8%above 10.0%does not pass143.44M USD / 356.98M USD
Net cash(Cash − Total Debt) ÷ Market Cap-30.9%above -30%does not pass(148.41M USD − 787.95M USD) ÷ 2.07B USD
Operating efficiencyOperating Income ÷ Gross Profit-79.2%above 25.0%does not pass-15.67M USD ÷ 19.78M USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

10.26 HKD

Enterprise value

22.64B HKD

the provider's own figure

EV / EBITDA

105.35×

Price / book

3.09×

the provider's book

Price / earnings

—

Return on equity

-16.3%

the provider's figure, not this page's

Profit margin

-18.6%

Revenue growth

1020.9%

Analyst target, mean

—

Analysts

—

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

Income statement (USD)2022202320242025

Revenue

455.44M497.26M356.98M143.44M

Gross profit

-6.61M2.98M2.80M19.78M

Operating income

-73.06M-32.86M-17.12M-15.67M

EBITDA

operating income before depreciation and amortisation

-224.76M-116.29M-210.05M59.54M

Pretax income

-275.53M-144.61M-216.02M20.38M

Net income

-225.96M-171.09M-251.63M10.45M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

-177.77M-159.96M-143.05M-37.06M

R&D

————
Balance sheet, year end (USD)2022202320242025

Total assets

3.26B2.57B1.74B1.81B

Total liabilities

2.76B2.25B1.72B1.24B

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

491.87M315.31M53.37M564.39M

Total debt

1.08B875.81M785.72M509.27M

Cash and equivalents

10.94M3.66M1.79M24.38M

Net PP&E

fixed assets after depreciation

27.20M834.80K310.94K765.66M

Working capital

current assets less current liabilities

817.57M645.34M441.46M37.84M
Cash flow (USD)2022202320242025

Operating cash flow

-128.03M204.31M129.21M54.15M

Capital expenditure

paid out, so below zero

-169.06K-3.24K-133.87K-3.84M

Depreciation and amortisation

2.43M2.21M620.23K28.05M

Free cash flow

operating cash flow plus capital expenditure

-128.20M204.30M129.07M50.31M