REF Holdings (HKSE:01631) Total Equity: HK$82.82 Mil (As of Dec. 2025)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

HKSE:01631 REF Holdings Ltd HKSE:01631
50 GF Score
Price HK$1.37
GF Value HK$0.23
Valuation Significantly Overvalued
! 2 Warning Signs
View Full Analysis

What is REF Holdings Total Equity?

REF Holdings HKSE:01631 50 Total Equity is HK$82.82 Mil as of Dec. 2025. GuruFocus rates HKSE:01631 with a GF Score™ of 50/100 and a GF Value™ of HK$0.23 (Significantly Overvalued). The stock has 2 warning signs investors should review.

REF Holdings's total equity for the quarter that ended in Dec. 2025 was HK$82.82 Mil.

This is Residual interest, including minority interest, that remains in the assets of the enterprise after deducting its liabilities. Equity is increased by owners’ investments and by comprehensive income, and it is reduced by distributions to the owners.

REF Holdings Total Equity Historical Data

* Premium members only.

The historical data trend for REF Holdings's Total Equity 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.

REF Holdings Total Equity Chart

REF Holdings Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Total Equity
Get a 7-Day Free Trial Premium Member Only Premium Member Only 139.46 99.42 72.75 79.73 82.82

REF Holdings Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Total Equity 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 Premium Member Only Premium Member Only 72.75 78.03 79.73 84.26 82.82
HKSE:01631
50GF Score
REF Holdings Ltd HKSE:01631
Total Equity is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

REF Holdings Total Equity Calculation

Total Equity and Total Liabilities are the two components for Total Assets.

REF Holdings's Total Equity for the fiscal year that ended in Dec. 2025 is calculated as

Total Equity=Total Assets(Q: Dec. 2025 )-Total Liabilities(Q: Dec. 2025 )
=123.647-40.832
=82.82

REF Holdings's Total Equity for the quarter that ended in Dec. 2025 is calculated as

Total Equity=Total Assets(Q: Dec. 2025 )-Total Liabilities(Q: Dec. 2025 )
=123.647-40.832
=82.82

* 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.

Frequently Asked Questions Learn more about Total Equity →
What does a Total Equity of HK$82.82 Mil mean?
REF Holdings (HKSE:01631) has a Total Equity of HK$82.82 Mil as of Dec. 2025. The total amount of equity as record on a company's balance sheet. View historical data for REF Holdings and its competitors.
Is REF Holdings' Total Equity too high?
REF Holdings' current Total Equity is HK$82.82 Mil. Overall, REF Holdings has a GF Score™ of 50/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does REF Holdings' Total Equity compare to CTAS and CPRT?
REF Holdings' Total Equity of HK$82.82 Mil can be compared against companies in the Business Services industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Total Equity for a Business Services company?
A good Total Equity depends on the Business Services industry context. However, Total Equity 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 Total Equity mean?
A high Total Equity can signal that a stock is expensive relative to its fundamentals. The total amount of equity as record on a company's balance sheet. View historical data for REF Holdings and its competitors. REF Holdings's current Total Equity is HK$82.82 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is REF Holdings stock overvalued right now?
Based on GuruFocus' analysis, REF Holdings (HKSE:01631) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.23, compared to a current price of HK$1.37 — trading 495.7% above its estimated fair value. The current Total Equity is HK$82.82 Mil. REF Holdings' overall GF Score™ is 50/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Total Equity calculated?
Total Equity is calculated from a company's financial statements. For REF Holdings (HKSE:01631), the current Total Equity is HK$82.82 Mil as of Dec. 2025. 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 REF Holdings (HKSE:01631) Overvalued in 2026?

Based on GuruFocus' analysis, REF Holdings stock appears to be overvalued. The current stock price of HK$1.37 is trading 495.7% above its estimated GF Value™ of HK$0.23. GuruFocus considers REF Holdings to be Significantly Overvalued.

Key valuation signals for HKSE:01631:

  • Total Equity: HK$82.82 Mil
  • GF Value™: HK$0.23 vs. price of HK$1.37 (495.7% above fair value)
  • GF Score™: 50/100 with 2 warning signs

No single metric tells the full story. See the HKSE:01631 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

REF Holdings Business Description

Address 99 Queen’s Road Central, Units 5906 - 5912, 59th Floor, The Center, Hong Kong, HKG
REF Holdings Ltd provides financial printing, which comprises cover printing of listing documents, financial reports, compliance documents, and other documents. The convenient financial printing services include typesetting, proofreading, translation, design, printing, web submission, media placement, and distribution. The services of the group can be categorized into printing, translation, and media placement. The company generates revenue from the provision of financial printing services and investment holdings.
50GF Score

Get the complete analysis for HKSE:01631

Total Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

HK$1.37
Price
HK$0.23
GF Value