CSG Holding (000012) Fair Value & Analysis
Basic Materials · CN · Market cap 12.5B CNY
Fair value as of: Jul 21, 2026
From 21 valuation models · updated 20 days ago
Fair value updated Jul 21, 2026, revised from ¥1.09 to ¥0.7000 (−35.8%) since Jun 25, 2026. Share price −9.0% over the past month.
Below-average quality, and screening another 82% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (¥0.8700). The favourable scenario is already priced in.
- Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.
How to read this chart
60‑month range ¥3.64 – ¥11.39 · fair‑value band ¥0.5200 – ¥0.8700 · the ¥3.85 price screens above the ¥0.7000 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 21, 2026.
Analysis
CSG Holding (000012) currently trades at ¥3.85, while our model-based Fair Value estimate is ¥0.7000, implying the stock looks roughly 81.8% overvalued today. The Quality Score stands at 40/100 (below-average quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, CSG Holding generated revenue of 13.6B CNY at a net margin of 0.1%. Revenue declined 2.6% year over year. It earns a return on equity of -0.1%. Net debt stands at 4.9B CNY. Fundamentals as of Jul 21, 2026
Our scenario range runs from ¥0.5200 (bear case) to ¥0.8700 (bull case); at ¥3.85, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 27% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -59% fair-value upside, at -82%, 000012 screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 21 models by family
Widest divergence: Asset-Based (¥2.87) versus Economic Profit (¥0.3200). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 39 · Market factors (momentum, volatility) 37
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
CSG Holding Co., Ltd. researches, develops, manufactures, and sells glass products in Mainland and internationally. It operates through Glass, Electronic Glass and Display device, and Solar Energy and Other segments.
Full company description
CSG Holding Co., Ltd. researches, develops, manufactures, and sells glass products in Mainland and internationally. It operates through Glass, Electronic Glass and Display device, and Solar Energy and Other segments. The Glass segment engages in the production and sale of float, photovoltaic, and engineering glass products; and silica sand for glass production. It also offers architectural, solar, photovoltaic, and float glasses for applications in high-end architectural curtain walls, decoration and furniture, mirror, car windshield, scanners and photocopiers transmitting plates, home appliance panels, display protection, and other fields. Its Electronic Glass and Display device segment produces and sells display components and special ultra-thin glass products. The Solar Energy and Others segment engages in the production and sale of polysilicon and solar cell module products, photovoltaic energy development, and other products. It also provides renewable energy products; and new materials and information display products comprising ultra-thin electronic glass and display devices. In addition, the company engages in the photovoltaic power station project development, construction, operation, maintenance, etc.; and processing and production of quartz sand raw material. The company was formerly known as China Southern Glass Co., Ltd. and changed its name to CSG Holding Co., Ltd. in March 1993. CSG Holding Co., Ltd. was incorporated in 1984 and is headquartered in Shenzhen, the People's Republic of China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
CSG Holding reported revenue of ¥13.7B in FY2025 versus ¥13.7B in FY2021, a compound +0.1%/yr. Reported net income was ¥126M in FY2025, compounding −46.4%/yr from FY2021.
000012 screens 82% overvalued. Compare with CRH plc →
Peer Group
Building Materials · 254 stocks
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.
Valuation Multiples vs Building Materials median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Building Materials stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| CRH plc CRH | $102.92 | $70.57 | -31% |
| UltraTech Cement Limited ULTRACEMCO | ₹11,711 | ₹4,719 | -60% |
| China Jushi Co 600176 | ¥54.52 | ¥13.95 | -74% |
| Grasim Industries Limited GRASIM | ₹3,073 | ₹1,245 | -59% |
| CEMEX, S.A. CEMEXCPO | 21.71 MXN | 15.42 MXN | -29% |
| Anhui Conch Cement Company 600585 | ¥16.99 | ¥26.14 | +54% |
| Ambuja Cements Limited AMBUJACEM | ₹435.25 | ₹227.96 | -48% |
| Shree Cement Limited SHREECEM | ₹26,930 | ₹8,215 | -69% |
| TCC Group 1101B | 43.70 TWD | 10.48 TWD | -76% |
| Taiwan Glass Ind. Corp 1802 | 53.30 TWD | 13.98 TWD | -74% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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