Harbour Digital Asset Capital Limited (0913.HK)

Harbour Digital Asset Capital Limited (0913.HK) — VMCI valuation read

Harbour Digital Asset Capital Limited sits at VMCI 64/100, with the Financial Services sector median at 50. That 14-point spread is the first thing to note on 0913.HK: it tells the reader the composite is favorable before any single ratio is examined, and the mid-cap tier sets the comparison set.

Form 4 disclosures on 0913.HK are blank for the trailing 30 days. With the insider channel offline, the EV/EBITDA delta, free-cash-flow trajectory, and the next earnings print do the talking.

**Investor frame.** The Value read on 0913.HK: 0913.HK trades at 16.0x earnings, 11% below the Financial Services median of 18.0x, with EV/EBITDA at 13.0x against 12.0x. The Quality read: ROIC of 16.0% sits 6.0pp above the Financial Services median (10.0%). The Risk read: net debt to EBITDA of -0.9x leaves covenant headroom, anchoring the bear scenario on a measurable balance-sheet metric.

0913.HK fell 2.8% over the trailing 7 days, with a +2.9% read on a 30-day basis.