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Start Group (600734) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Start Group stock ¥0.93, price ¥1.76, that is 47.2% below the price, quality 27 out of 100. Rating: strongly overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Technology CN · ISIN CNE000000LS5

SG Start Group logo Thin data Nov 10, 2026

Start Group

600734 · SHG
Very expensive, weak quality

Our calculation puts a fair price 47% below what the stock costs today.

Low debt
Fair value ¥0.9300 · Strongly overvalued
Quality 27/100
Weak Growth (revenue 5y −40.2 %/yr in CNY)
Loss-making · -156.8% net margin (TTM)
Negative free cash flow
Trails peers (0/11)
Narrow moat 10/100 · thin data
Thin data
Estimate
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26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

¥6.70 ¥1.29 Fair Value ¥0.9300 Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range ¥1.29 – ¥6.70 · fair‑value band ¥0.7000 – ¥1.16 · the ¥1.76 price screens above the ¥0.9300 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 6 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 10, 2026.

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Company profile

Fujian Start Group Co.Ltd provides anti-intrusion detection systems in China.

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The company engages in intelligent computing business; digital education business, which provides basic education, higher education, vocational education, and employment guidance services; develops and builds a data cross-border flow service platform, including outbound assessment declaration, data cross-border flow integrated center, one-stop data service, etc.; and offers Lake Warehouse Integrated Data Platform, a digital government platform to ensure data availability and data value, as well as provides unified payment platform to serve natural persons, enterprises, and collection units.

It also engages in research and development, manufacturing, sales, and installation of communication products, security equipment, and electronic products. The company was formerly known as Fujian Start Computer Group Co.,Ltd. and changed its name to Fujian Start Group Co.Ltd in July 2009.

Fujian Start Group Co.Ltd was founded in 1988 and is headquartered in Fuzhou, China.

Stock analysis

Start Group (600734) currently trades at ¥1.76, while our estimate is ¥0.9300, 47% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: ¥0.7000 (bear) to ¥1.16 (bull), the price of ¥1.76 sits above 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 27/100 (below-average quality), in the Technology sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Start Group reported revenue of 88.1M CNY in FY2025 versus 922M CNY in FY2021, a compound −44.4%/yr. Reported net income was −146M CNY in FY2025.

Key figures

Market cap 3.8B CNY (≈ $575M) Small · P/S ratio 52.4 · EPS (TTM) ¥−0.0500 · Dividend yield 0.1% · Return on equity −41.4% · Return on assets (EBIT) 7.5% (5-year average) · Operating margin −6.8% · Revenue (TTM) 65.6M CNY.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 10 out of 100 (low confidence).

What moves the price

The share trades about 74% below its 52-week high and 15% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at 21% fair-value upside, at −47%, 600734 screens richer than that median.

Fair Value

Bear ¥0.7000 Fair Value ¥0.9300 Bull ¥1.16
Price ¥1.76 · Downside -47.2%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 27/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 1
How much profit the company makes from its sales and capital
Quality Growth 20
Are margins and returns getting better?
Cashflow 3
Do the profits arrive as real cash?
Financial strength 31
Debt, balance sheet and risk of trouble
Investment 82
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Price momentum 24
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 2
Distance to the 52-week high, does not count
New shares 58
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−71.4%
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.
−30.5%
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.
−40.2%
Start year 2020 (pandemic). Over 10 years: −11.8% a year
Revenue growth 30 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.
−5.9%
Profit margin (trend) ⓘ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.
−50.8% (2020) → −68.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

600734 screens overvalued: fair value 47% below the price. Compare with International Business Machines Corporation →

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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.Information Technology Services · 518 stocks

Beats the industry median on 0/10 measures
Overall it trails its industry peers.
Valuation
Quality Score 27 · Bottom 25%
Fair Value upside −47.2% · Bottom 25%
Profitability
Return on assets −12.9% · Bottom 25%
Net margin (12 months) −156.8% · Bottom 25%
Operating margin (12 months) −6.8% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 3.8% · Below median
Dividend yield (12 months) 0.1% · Bottom 25%
Balance sheet
Debt / equity 0.26× · Above median

Valuation Multiplesvs Information Technology Services median · lower = cheaper

P/B 15.20× · Priciest 25%
P/S (12 months) 58.41× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 32
FUTURE (revenue growth)19 · sector 30
PAST (return on equity)0 · sector 30
HEALTH (low debt)87 · sector 97
DIVIDEND (yield)2 · sector 37

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Information Technology Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Cognizant Technology Solutions Corporation CTSH $65.00 $139.68 +115% vs 600734
Wipro Limited WIPRO ₹199.00 ₹287.86 +45% vs 600734
Infosys Limited INFY ₹1,154 ₹1,655 +43% vs 600734
Accenture plc ACN $258.51 $332.90 +29% vs 600734
Tata Consultancy Services Limited TCS ₹2,475 ₹2,993 +21% vs 600734
HCL Technologies Limited HCLTECH ₹1,407 ₹1,602 +14% vs 600734
Amadeus IT Group AMS €61.62 €66.57 +8% vs 600734
CDW Corporation CDW $169.36 $165.54 −2% vs 600734
Broadridge Financial Solutions, Inc BR $192.96 $161.18 −16% vs 600734
International Business Machines Corporation IBM $244.53 $185.39 −24% vs 600734

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Start Group: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Start Group Fair Value". https://www.fairvalue-calculator.com/stock/600734

Frequently asked questions

Is Start Group (600734) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is ¥0.9300 versus a price of ¥1.76, about 47% lower (overvalued).
What is the fair value of 600734?
Our estimate for Start Group is ¥0.9300 (as of Nov 10, 2026), built from audited fundamentals. The current price: ¥1.76.
What is the quality score of 600734?
Start Group has a Quality Score of 27/100. 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 Start Group (600734)?
Our calculated price target is the estimate of ¥0.9300 (as of Nov 10, 2026). Cautious scenario ¥0.7000, optimistic scenario ¥1.16. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Start Group stock forecast for 2026?
Our estimate puts fair value at ¥0.9300, about 47% lower versus a price of ¥1.76 (overvalued). Cautious scenario ¥0.7000, optimistic scenario ¥1.16. The calculation is refreshed regularly with new filings.
What is the revenue of Start Group (600734)?
Start Group reported trailing-twelve-month revenue of about 65.6M CNY (latest available figure, as of Nov 10, 2026).
Does Start Group pay a dividend?
Start Group currently shows a dividend yield of 0.10% relative to its recent price (as of Nov 10, 2026).
How much is the dividend of Start Group (600734)?
Start Group has a dividend yield of 0.1%.
What is the intrinsic value of Start Group (600734)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Start Group it is ¥0.9300 per share (as of Nov 10, 2026), against a price of ¥1.76.
Is Start Group stock overvalued or undervalued in 2026?
As of Nov 10, 2026, 600734 trades above its calculated fair value: price ¥1.76, fair value ¥0.9300, a gap of about −47% (overvalued). 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 600734?
No. The price is what the market pays today (¥1.76); the fair value is what the company's own numbers justify (¥0.9300). For Start Group the two are ¥0.8300 per share apart. That gap is exactly why we show both numbers side by side.
How much is Start Group worth?
The market values Start Group at about 3.8B CNY (market capitalisation, as of Nov 10, 2026). Per share that is ¥1.76; our models calculate a fair value of ¥0.9300 per share.
What do the bullish and bearish scenarios say about 600734?
Our models span a range for Start Group: cautious scenario ¥0.7000, base ¥0.9300, optimistic ¥1.16 per share (as of Nov 10, 2026, price ¥1.76). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Start Group (600734)?
Balance-sheet figures for Start Group (as of Nov 10, 2026): return on equity −41.4%, debt of 0.26 per unit of equity. They feed the Quality Score of 27/100, which measures business quality independently of the share price.
How far is 600734 from its 52-week high?
Start Group trades at ¥1.76, about 74% below its 52-week high of ¥6.70 and 15% above the low of ¥1.53 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of ¥0.9300 is for.
Which stocks are comparable to Start Group?
From the same area (Technology) we also value International Business Machines Corporation, Accenture plc, Tata Consultancy Services Limited, Infosys Limited, 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 Start Group stock attractive at the current price?
The data as of Nov 10, 2026: price ¥1.76, calculated fair value ¥0.9300 (−47%), Quality Score 27/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Start Group itself currently trades above fair value. 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 Start Group (600734)?
The closing price on Nov 10, 2026 was ¥1.76. Our estimate is ¥0.9300, about 47% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Start Group right now?
The price sits above even our optimistic bull case (¥1.16). The favourable scenario is already priced in. Weak quality (27/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Start Group

How large is the market capitalisation of Start Group (600734)?
The market capitalisation of Start Group is 3.8B CNY (≈ $575M). 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 Start Group (600734)?
The price-to-sales ratio of Start Group is 52.4 (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 Start Group (600734)?
Earnings per share at Start Group are ¥−0.0500. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Start Group (600734)?
The dividend yield of Start Group is 0.1%. 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 return on equity of Start Group (600734)?
The return on equity (ROE) of Start Group is −41.4% (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 Start Group (600734)?
On an EBIT basis the return on assets of Start Group is 7.5% (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 Start Group (600734)?
The operating margin of Start Group is −6.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Start Group (600734)?
Revenue at Start Group is growing +3.8% versus a year earlier (3y avg −30.5%). 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 Start Group (600734)?
Earnings per share at Start Group are growing +418% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Start Group (600734) generate?
The free cash flow of Start Group is −94.7M 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 Start Group (600734) carry?
The net debt of Start Group is 35.2M CNY (fiscal year 2025). 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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