China Next-Gen Commerce and Supply Chain (HKSE:03928) Scaled Net Operating Assets: 0.67 (As of Mar. 2026)

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HKSE:03928 China Next-Gen Commerce and Supply Chain Ltd HKSE:03928
52 GF Score
Price HK$26.30
GF Value HK$1.74
Valuation Significantly Overvalued
! 3 Warning Signs
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What is China Next-Gen Commerce and Supply Chain Scaled Net Operating Assets?

China Next-Gen Commerce and Supply Chain HKSE:03928 +0.77% 52 Scaled Net Operating Assets is 0.67 as of Mar. 2026. GuruFocus rates HKSE:03928 with a GF Score™ of 52/100 and a GF Value™ of HK$1.74 (Significantly Overvalued). The stock has 3 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

China Next-Gen Commerce and Supply Chain's operating assets for the quarter that ended in Mar. 2026 was HK$341.2 Mil. China Next-Gen Commerce and Supply Chain's operating liabilities for the quarter that ended in Mar. 2026 was HK$101.9 Mil. China Next-Gen Commerce and Supply Chain's Total Assets for the quarter that ended in Sep. 2025 was HK$359.8 Mil. Therefore, China Next-Gen Commerce and Supply Chain's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.67.


China Next-Gen Commerce and Supply Chain Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for China Next-Gen Commerce and Supply Chain's Scaled Net Operating Assets can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

China Next-Gen Commerce and Supply Chain Scaled Net Operating Assets Chart

China Next-Gen Commerce and Supply Chain Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.63 0.58 0.55 0.65 0.56

China Next-Gen Commerce and Supply Chain Semi-Annual Data
Sep16 Sep17 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
Scaled Net Operating Assets Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.62 0.65 0.52 0.64 0.67

HKSE:03928 vs PWR, FIX, EME: Scaled Net Operating Assets Comparison

For the Engineering & Construction subindustry, China Next-Gen Commerce and Supply Chain's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


China Next-Gen Commerce and Supply Chain Scaled Net Operating Assets vs Construction Industry

For the Construction industry and Industrials sector, China Next-Gen Commerce and Supply Chain's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where China Next-Gen Commerce and Supply Chain's Scaled Net Operating Assets falls into.


HKSE:03928
52GF Score
China Next-Gen Commerce and Supply Chain Ltd HKSE:03928
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

China Next-Gen Commerce and Supply Chain Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

China Next-Gen Commerce and Supply Chain's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Sep. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Sep. 2025 )
=(Operating Assets (A: Sep. 2025 )-Operating Liabilities (A: Sep. 2025 ))/Total Assets (A: Sep. 2024 )
=(340.031-105.757)/418.785
=0.56

where

Operating Assets(A: Sep. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=359.755 - 19.724
=340.031

Operating Liabilities(A: Sep. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=200.426 - 38.848 - 55.821
=105.757

China Next-Gen Commerce and Supply Chain's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Sep. 2025 )
=(341.221-101.865)/359.755
=0.67

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=439.918 - 98.697
=341.221

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=173.962 - 25.268 - 46.829
=101.865

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

What does a Scaled Net Operating Assets of 0.67 mean?
China Next-Gen Commerce and Supply Chain (HKSE:03928) has a Scaled Net Operating Assets of 0.67 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on China Next-Gen Commerce and Supply Chain and its competitors.
Is China Next-Gen Commerce and Supply Chain's Scaled Net Operating Assets too high?
China Next-Gen Commerce and Supply Chain's current Scaled Net Operating Assets is 0.67. Overall, China Next-Gen Commerce and Supply Chain has a GF Score™ of 52/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does China Next-Gen Commerce and Supply Chain's Scaled Net Operating Assets compare to PWR and FIX?
China Next-Gen Commerce and Supply Chain's Scaled Net Operating Assets of 0.67 can be compared against companies in the Construction industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a Construction company?
A good Scaled Net Operating Assets depends on the Construction industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on China Next-Gen Commerce and Supply Chain and its competitors. China Next-Gen Commerce and Supply Chain's current Scaled Net Operating Assets is 0.67. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Next-Gen Commerce and Supply Chain stock overvalued right now?
Based on GuruFocus' analysis, China Next-Gen Commerce and Supply Chain (HKSE:03928) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$1.74, compared to a current price of HK$26.30 — trading 1411.5% above its estimated fair value. The current Scaled Net Operating Assets is 0.67. China Next-Gen Commerce and Supply Chain's overall GF Score™ is 52/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For China Next-Gen Commerce and Supply Chain (HKSE:03928), the current Scaled Net Operating Assets is 0.67 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is China Next-Gen Commerce and Supply Chain (HKSE:03928) Overvalued in 2026?

Based on GuruFocus' analysis, China Next-Gen Commerce and Supply Chain stock appears to be overvalued. The current stock price of HK$26.30 is trading 1411.5% above its estimated GF Value™ of HK$1.74. GuruFocus considers China Next-Gen Commerce and Supply Chain to be Significantly Overvalued.

Key valuation signals for HKSE:03928:

  • Scaled Net Operating Assets: 0.67
  • GF Value™: HK$1.74 vs. price of HK$26.30 (1411.5% above fair value)
  • GF Score™: 52/100 with 3 warning signs

No single metric tells the full story. See the HKSE:03928 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


China Next-Gen Commerce and Supply Chain Business Description

Address 16 Kian Teck Way, Singapore, SGP, 628749
China Next-Gen Commerce and Supply Chain Ltd is an investment holding company. Along with its subsidiaries, the company is principally engaged in the provision of construction services and property investment in Singapore. It has two operating segments as follows: i) Construction services: provision of civil engineering works, building construction works and other ancillary services to government and commercial corporations. ii) Property investment: leasing of residential and industrial properties. The majority of the company's revenue is derived from the Construction services segment. Geographically, the company derives all of its revenue from Singapore.
52GF Score

Get the complete analysis for HKSE:03928

Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

HK$26.30
Price
HK$1.74
GF Value