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STOCK COMPARISON

Guangzhou Pearl River Piano Group Co vs Pop Mart International Group Ltd: Fair Value & Quality

Both stocks run through our valuation models. Here is how Guangzhou Pearl River Piano Group Co (002678) and Pop Mart International Group Ltd (9992) compare, as of Sep 24, 2026.

As of Sep 24, 2026, Fair Value Calculator sees Pop Mart International Group Ltd as the more attractively valued of the two: Guangzhou Pearl River Piano Group Co trades at ¥4.49 versus a fair value of ¥0.89 (-80%), while Pop Mart International Group Ltd trades at HK$154 versus HK$212 (+38%).
Guangzhou Pearl River Piano Group Co
002678.SHE · CNY · Consumer Discretionary
-80%
upside to fair value
overvalued
Price¥4.49
Fair Value¥0.89
Quality39/100
Pop Mart International Group Ltd
9992.HK · HKD · Consumer Discretionary
+38%
upside to fair value
undervalued
PriceHK$154
Fair ValueHK$212
Quality88/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Guangzhou Pearl River Piano Group CoPop Mart International Group Ltd
Valuation
n/aP/E (TTM)13.9×
1.79×P/S (TTM)5.51×
0.34×P/B9.18×
n/aEV/EBITDA10.9×
n/aPEG0.80×
−80.2%Fair value upside+38.0%
0.1%Dividend yield1.6%
n/aDividend per shareHK$2.38
Profitability
-34%Operating margin48%
n/aEBIT margin trend (5Y)1.59×
-12%Return on equity78%
-6%Return on assets45%
Growth
15%Revenue growth (YoY)174%
-30.0%Avg. growth/yr (3Y)98.6%
-20.1%Avg. growth/yr (5Y)70.4%
n/aValue creation/yr+86.5%
Balance & size
n/aInterest coverage (EBIT/interest)204.9×
0.07×Debt / equity0.00×
$1BMarket cap$26B
weakGrowth qualityhealthy

Pop Mart International Group Ltd leads: 2 to 8 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Guangzhou Pearl River Piano Group Coof which business quality 41 · market factors 33 Pop Mart International Group Ltdof which business quality 85 · market factors 21
ProfitabilityMargins and returns on capital today
0
97
Quality GrowthAre margins and returns improving?
17
100
CashflowEarnings quality: real cash, not paper profit
0
79
Fin. StrengthBalance sheet, leverage, solvency risk
89
100
InvestmentDisciplined investing over empire-building
67
31
Low VolatilityCalm price path (market factor)
59
39
MomentumPrice trend over the last 3–12 months (market factor)
23
18
52W MomentumDistance to the 52-week high (market factor)
21
5
Net IssuanceShare count: buybacks or dilution?
93
84

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyGuangzhou Pearl River Piano Group CoPrice ¥4.49Pop Mart International Group LtdPrice HK$154
DCF Modelsn/a+72%above the priceHK$264
Earnings-Basedn/a+115%above the priceHK$330
Dividend Discount-99%below the price¥0.04-91%below the priceHK$14.06
Multiplesn/a-23%below the priceHK$119
Asset-Based-66%below the price¥1.53-93%below the priceHK$11.31
Growth DCFn/a+11%close to the priceHK$171
Economic Profitn/a+24%above the priceHK$190
Growth Earningsn/a+185%above the priceHK$438
Minimum-99%below the price¥0.04-93%below the priceHK$11.31
Maximum-66%below the price¥1.53+185%above the priceHK$438
Median-83%below the price¥0.78+17%above the priceHK$180
Geometric mean-95%below the price¥0.23-28%below the priceHK$111

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Guangzhou Pearl River Piano Group Co: 3 of 3 models see the stock below the current price.

Pop Mart International Group Ltd: 11 of 26 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Guangzhou Pearl River Piano Group Co
Price ¥4.49
Fair Value ¥0.89
Bear ¥0.59Bull ¥1.12
Pop Mart International Group Ltd
Price HK$154
Fair Value HK$212
Bear HK$116Bull HK$411

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Guangzhou Pearl River Piano Group Co · Consumer Discretionary

Quality score39 · bottom 25%
Fair value upside-80% · bottom 25%

Pop Mart International Group Ltd · Consumer Discretionary

Quality score88 · Top 25%
Fair value upside+38% · above median

Bottom line

As of Sep 24, 2026, Fair Value Calculator sees Pop Mart International Group Ltd as the more attractively valued of the two: Guangzhou Pearl River Piano Group Co trades at ¥4.49 versus a fair value of ¥0.89 (-80%), while Pop Mart International Group Ltd trades at HK$154 versus HK$212 (+38%).

Pop Mart International Group Ltd has the higher quality score (88/100).

Open Pop Mart International Group Ltd live analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.