China Galaxy Securities Co Ltd Class A (601881) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of China Galaxy Securities Co Ltd Class A stock ¥12.36, price ¥11.91, upside +3.8%, quality 54 out of 100. Rating: fairly valued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range ¥8.16 – ¥19.00 · fair‑value band ¥11.43 – ¥14.32 · the ¥11.91 price screens below the ¥12.36 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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China Galaxy Securities Co., Ltd., together with its subsidiaries, provides various financial services in China, Hong Kong, and internationally.
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The company operates through six segments: Wealth Management, Investment Banking, Institutional Business, International Business, Investment and Trading Business, and Parent-Subsidiary Integration Business.
It offers agency trading of stocks, funds, bonds, and derivative financial instruments; financial services, including investment consulting, portfolio advice, financial product sale, and asset allocation, as well as securities trading, stock-pledged repurchase agreements, agreed repurchase transactions; and investment banking services, such as equity, bond, and structured financing, as well as financial advisory, asset securitization, and various financing solutions.
The company also provides prime brokerage, seat leasing, custody and fund services, investment research, and sales and transactions; research and asset management services; and fixed-income securities, commodities, and derivatives, as well as comprehensive financial solutions for investment, financing, and risk management.
In addition, it offers professional development, revenue generation, futures, and private equity, as well as equity investment management, alternative investment, and asset management. The company was founded in 2007 and is based in Beijing, China.
Stock analysis
China Galaxy Securities Co Ltd Class A (601881) currently trades at ¥11.91, while our model-based Fair Value estimate is ¥12.36, so the stock looks roughly fairly valued today (gap 3.6%).
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Valuation
Bull case: the Multiples group reads highest at a median of ¥14.88 per share, and 3 of the 6 models we run sit above the ¥11.91 price.
Bear case: the Dividend Discount group reads lowest at ¥7.35, and 3 of the 6 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ¥11.43 (bear) to ¥14.32 (bull), the price of ¥11.91 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 54/100 (solid quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
China Galaxy Securities Co Ltd Class A reported revenue of 28.2B CNY in FY2025 versus 30.9B CNY in FY2021, a compound −2.2%/yr. Reported net income was 12.5B CNY in FY2025, compounding +4.7%/yr from FY2021.
Key figures
Market cap 130B CNY (≈ $19.6B) Large · P/E ratio 10.1 · P/S ratio 4.01 · EPS (TTM) ¥1.15 · Dividend yield 3.1% · Net margin 42.6% · Return on equity 9.2% · Return on assets (EBIT) 2.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 65 out of 100 (low confidence).
What moves the price
The share trades about 32% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −38% fair-value upside, at 4%, 601881 screens cheaper than that median.
Fair Value models
Bear¥11.43Fair Value ¥12.36Bull¥14.32
Price ¥11.91 · Upside +3.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (¥0.6582 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.32/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−13.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.3%
Start year 2020 (pandemic). Over 10 years: −1.6% a year
Revenue growth 20 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+17.1%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
≈ +10.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.4%
Dividend (yield on the price)3.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.9.9% vs 7.8%, steady
Profit margin 2019 to 2024 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.34% → 32%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Rate on operating basis: 2025 sits 58% above its own trend.
News mood ⓘNews mood, the average tone of recent news (8 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: High margins supported by wealth management and international revenue growth are offset by negative operating cash flows and reliance on cyclical equity trading volumes.
Main risk: Platforms such as East Money with integrated digital services could draw retail clients away from traditional brokerages like China Galaxy Securities or force lower commission rates and margins on brokerage and wealth management.
Bull case: By accelerating its own digital and AI-driven platforms and expanding fee-based overseas services, China Galaxy Securities could retain clients and capture new segments despite fintech competition.
Bear case: If fintech platforms continue to consolidate retail trading volumes with lower costs and seamless apps, China Galaxy Securities might see sustained pressure on its core brokerage revenues and struggle to maintain market position.
China Galaxy Securities posted solid first-half profit growth, fueled by rising wealth management and international revenues even as trading income fell. Its brokerage and investment banking model remains closely tied to equity market volumes and capital-raising activity in China. Will the push into fee-based and overseas businesses deliver steadier results going forward, or will cyclical trading and underwriting swings still set the pace?
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Financial Conglomerates · 49 stocks
Beats the industry median on 8/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score54 · Above median
Fair Value upside+3.8% · Above median
Profitability
Return on equity (12 months)9.2% · Below median
Return on assets1.5% · Below median
Net margin (12 months)42.6% · Top 25%
Operating margin (12 months)55.5% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)29.9% · Top 25%
Dividend yield (12 months)3.1% · Below median
Balance sheet
Debt / equity0.31× · Below median
Valuation Multiplesvs Financial Conglomerates median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "China Galaxy Securities Co Ltd Class A Fair Value". https://www.fairvalue-calculator.com/stock/601881
Frequently asked questions
Is China Galaxy Securities Co Ltd Class A (601881) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of ¥12.36 versus a price of ¥11.91, about +4% upside (fairly valued).
What is the fair value of 601881?
Our model-based fair value for China Galaxy Securities Co Ltd Class A is ¥12.36 (as of Nov 5, 2026), built from audited fundamentals. The current price: ¥11.91.
What is the quality score of 601881?
China Galaxy Securities Co Ltd Class A has a Quality Score of 54/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for China Galaxy Securities Co Ltd Class A (601881)?
Our model-based price target is the fair value of ¥12.36 (as of Nov 5, 2026) from 6 valuation models. Cautious scenario ¥11.43, optimistic scenario ¥14.32. It is a calculation from audited fundamentals, not an analyst target.
What is the China Galaxy Securities Co Ltd Class A stock forecast for 2026?
Our models put fair value at ¥12.36, about +4% upside versus a price of ¥11.91 (fairly valued). Cautious scenario ¥11.43, optimistic scenario ¥14.32. The calculation is refreshed regularly with new filings.
What is the revenue of China Galaxy Securities Co Ltd Class A (601881)?
China Galaxy Securities Co Ltd Class A reported trailing-twelve-month revenue of about 32.5B CNY (latest available figure, as of Nov 5, 2026).
Does China Galaxy Securities Co Ltd Class A pay a dividend?
China Galaxy Securities Co Ltd Class A currently shows a dividend yield of 3.15% relative to its recent price (as of Nov 5, 2026).
What is the intrinsic value of China Galaxy Securities Co Ltd Class A (601881)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For China Galaxy Securities Co Ltd Class A it is ¥12.36 per share (as of Nov 5, 2026), against a price of ¥11.91. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is China Galaxy Securities Co Ltd Class A stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 601881 trades below its calculated fair value: price ¥11.91, fair value ¥12.36, a gap of about +4% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 601881?
No. The price is what the market pays today (¥11.91); the fair value is what the company's own numbers justify (¥12.36). For China Galaxy Securities Co Ltd Class A the two are ¥0.4500 per share apart. That gap is exactly why we show both numbers side by side.
How much is China Galaxy Securities Co Ltd Class A worth?
The market values China Galaxy Securities Co Ltd Class A at about 130B CNY (market capitalisation, as of Nov 5, 2026). Per share that is ¥11.91; our models calculate a fair value of ¥12.36 per share.
What do the bullish and bearish scenarios say about 601881?
Our models span a range for China Galaxy Securities Co Ltd Class A: cautious scenario ¥11.43, base ¥12.36, optimistic ¥14.32 per share (as of Nov 5, 2026, price ¥11.91). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 601881?
China Galaxy Securities Co Ltd Class A trades at a price-to-earnings ratio of 10.1 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥12.36 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2025), reported earnings: 16.7. Other multiples: P/B 0.9, P/S 4.0.
How solid is the balance sheet of China Galaxy Securities Co Ltd Class A (601881)?
Balance-sheet figures for China Galaxy Securities Co Ltd Class A (as of Nov 5, 2026): return on equity 9.2%, debt of 0.31 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is 601881 from its 52-week high?
China Galaxy Securities Co Ltd Class A trades at ¥11.91, about 32% below its 52-week high of ¥17.47 and 7% above the low of ¥11.11 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of ¥12.36 is for.
Which stocks are comparable to China Galaxy Securities Co Ltd Class A?
From the same area (Financial Services) we also value ORIX Corporation, Bajaj Finserv Ltd, Guosen Securities Co, CNPC Capital Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is China Galaxy Securities Co Ltd Class A stock attractive at the current price?
The data as of Nov 5, 2026: price ¥11.91, calculated fair value ¥12.36 (+4%), Quality Score 54/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 601881 calculated?
We run China Galaxy Securities Co Ltd Class A through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥12.36, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. China Galaxy Securities Co Ltd Class A currently trades 4% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of China Galaxy Securities Co Ltd Class A (601881)?
The closing price on Nov 5, 2026 was ¥11.91. Our model-based fair value is ¥12.36, about +4% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with China Galaxy Securities Co Ltd Class A right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of China Galaxy Securities Co Ltd Class A (601881) come from?
Earnings per share at China Galaxy Securities Co Ltd Class A grew +1.7 % a year from 2013 to 2024. Broken into its drivers: revenue per share +2.7 %, EBIT margin +2.3 %, tax rate +2.8 %, residual (interest, one-offs) −5.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of China Galaxy Securities Co Ltd Class A
How large is the market capitalisation of China Galaxy Securities Co Ltd Class A (601881)?
The market capitalisation of China Galaxy Securities Co Ltd Class A is 130B CNY (≈ $19.6B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of China Galaxy Securities Co Ltd Class A (601881)?
The price-to-sales ratio of China Galaxy Securities Co Ltd Class A is 4.01 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of China Galaxy Securities Co Ltd Class A (601881)?
Earnings per share at China Galaxy Securities Co Ltd Class A are ¥1.15 (price ÷ EPS = P/E 10.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of China Galaxy Securities Co Ltd Class A (601881)?
The dividend yield of China Galaxy Securities Co Ltd Class A is 3.1% (payout 32.6%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of China Galaxy Securities Co Ltd Class A (601881)?
The net margin of China Galaxy Securities Co Ltd Class A is 42.6% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of China Galaxy Securities Co Ltd Class A (601881)?
The return on equity (ROE) of China Galaxy Securities Co Ltd Class A is 9.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of China Galaxy Securities Co Ltd Class A (601881)?
On an EBIT basis the return on assets of China Galaxy Securities Co Ltd Class A is 2.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of China Galaxy Securities Co Ltd Class A (601881)?
The operating margin of China Galaxy Securities Co Ltd Class A is 55.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at China Galaxy Securities Co Ltd Class A (601881)?
Revenue at China Galaxy Securities Co Ltd Class A is growing +29.9% versus a year earlier (3y avg +0.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at China Galaxy Securities Co Ltd Class A (601881)?
Earnings per share at China Galaxy Securities Co Ltd Class A are growing +33.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does China Galaxy Securities Co Ltd Class A (601881) generate?
The free cash flow of China Galaxy Securities Co Ltd Class A is −26.4B CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does China Galaxy Securities Co Ltd Class A (601881) carry?
The net debt of China Galaxy Securities Co Ltd Class A is 161B CNY (fiscal year 2024). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Nov 5, 2026