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Changhong Meiling Co Ltd (000521) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 5.0B CNY (≈ $750M) · ISIN CNE000000BT4

What is Changhong Meiling Co Ltd really worth?

CM Changhong Meiling Co Ltd 000521 · SHE
Price¥4.91
Fair Value¥10.24
Upside+108.6%
Quality58/100

A solid business, trading 52% below our fair value of ¥10.24.

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Strengths

Healthy Growth (revenue 5y +14.6 %/yr)
Low debt · generates free cash flow
Ranks above peers (8/13)

Risks

!Thin margins · 1.0% net margin
!Narrow moat 27/100
!Evidence only low, so the estimate is less certain
!Weak on past: 19 out of 100

For context

·4.28% dividend yield
Evidence: Low Range ¥7.68 – ¥12.80

Fair value as of: Aug 16, 2026

From 24 valuation models · updated 19 days ago

Share price −1.4% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price is below even our cautious bear case (¥7.68). The market is more pessimistic than our downside scenario.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.

Price vs Fair Value (5 years)

¥10.90 ¥2.68 Fair Value ¥10.24 Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 16, 2026.

How to read this chart

60‑month range ¥2.68 – ¥10.90 · fair‑value band ¥7.68 – ¥12.80 · the ¥4.91 price screens below the ¥10.24 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 16, 2026.

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Analysis

Changhong Meiling Co Ltd (000521) currently trades at ¥4.91, while our model-based Fair Value estimate is ¥10.24, implying the stock looks roughly 52.0% undervalued today. The Quality Score stands at 58/100 (solid quality), in the Consumer Cyclical sector. Bull case: the DCF Models group reads highest at a median of ¥22.21 per share, and 23 of the 24 models we run sit above the ¥4.91 price. Bear case: the Asset-Based group reads lowest at ¥4.62, and 1 of the 24 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Changhong Meiling Co Ltd generated revenue of 30.4B CNY at a net margin of 1.0%. Revenue declined 0.5% year over year. It earns a return on equity of 4.8%. The balance sheet holds a net cash position of 9.6B CNY. Fundamentals as of Aug 16, 2026

Our scenario range runs from ¥7.68 (bear case) to ¥12.80 (bull case); at ¥4.91, the current price sits below 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 40% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −10% fair-value upside, at 109%, 000521 screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly ¥0.0541 per share, which is 0.5 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

Model 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. Evidence
Highest evidence
FCF DCF best evidence ¥17.47 ¥22.16 ¥30.03 82
Growth DCF ¥17.40 ¥21.64 ¥28.46 80
Owner Earnings ¥17.50 ¥22.21 ¥30.12 78
All 24 models by family
DCF Models
FCF DCF best evidence ¥17.47 ¥22.16 ¥30.03 82
Owner Earnings ¥17.50 ¥22.21 ¥30.12 78
5Y Revenue Exit ¥16.72 ¥20.59 ¥25.84 74
5Y EBITDA Exit ¥19.30 ¥25.92 ¥34.30 76
5Y P/E Exit ¥18.15 ¥23.56 ¥29.77 72
10Y Revenue Exit ¥16.76 ¥20.48 ¥26.16 68
10Y EBITDA Exit ¥18.59 ¥24.31 ¥33.10 69
10Y P/E Exit ¥17.85 ¥22.61 ¥29.38 65
Earnings-Based
Graham-Dodd ¥3.17 ¥14.83 ¥20.38 64
Lynch FV ¥3.92 ¥5.60 ¥7.29 61
PEG = 1.0 ¥3.92 ¥5.60 ¥7.29 57
EPV ¥15.49 ¥16.13 ¥16.68 74
Multiples
P/E Multiple ¥7.68 ¥10.24 ¥12.80 63
P/S Multiple ¥5.93 ¥7.91 ¥9.89 58
P/B Multiple ¥5.93 ¥7.91 ¥9.89 55
EV/EBIT ¥18.82 ¥21.28 ¥23.74 66
EV/EBITDA ¥20.96 ¥24.14 ¥27.32 67
EV/Revenue ¥16.41 ¥18.54 ¥20.68 54
Asset-Based
NCAV (Graham) ¥3.45 ¥4.62 ¥6.90 54
Growth DCF
Growth DCF ¥17.40 ¥21.64 ¥28.46 80
Rev-Margin DCF ¥16.72 ¥20.51 ¥25.42 74
Economic Profit
Residual Income ¥5.47 ¥5.69 ¥5.90 76
ROIC Compounder ¥15.49 ¥16.13 ¥16.68 72
Growth Earnings
Growth-Adj P/E ¥6.38 ¥9.12 ¥11.85 67

Widest divergence: DCF Models (¥22.21) versus Asset-Based (¥4.62). Highest evidence: FCF DCF (82).

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Key figures & financial health

P/E ratio 20.2 as of Jun 15, 2026
P/S ratio 0.27 P/E × margin
EPS (TTM) ¥0.2900 price ÷ EPS = P/E 20.2
Dividend yield 4.3% payout 72.4%
Net margin 1.3% FY2025
Return on equity 4.8% TTM
More key figures
Profitability
Return on assets (EBIT) 2.4% avg 5y
Operating margin 1.2% TTM
Growth
Revenue (TTM) 30.4B CNY TTM
Revenue growth (YoY) −0.5% 3y avg +14.6%
EPS growth (YoY) −60.8%
Balance sheet & cash flow
Free cash flow 434M CNY FY2025
Net cash 9.6B CNY FY2024

Figures from reported company fundamentals · as of Aug 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 58 · Market factors (momentum, volatility) 34

Profitability 41
Margins and returns on capital today
Quality Growth 54
Are margins and returns improving?
Cashflow 42
Earnings quality: real cash, not paper profit
Fin. Strength 72
Balance sheet, leverage, solvency risk
Investment 72
Disciplined investing over empire-building
Low Volatility 84
Calm price path (market factor)
Momentum 19
Price trend over the last 3–12 months (market factor)
52W Momentum 3
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Changhong Meiling Co., Ltd. engages in the research, development, and manufacturing of refrigeration appliances and washing machines in China and internationally. It operates through four segments: Air Conditioning; Refrigerator, Freezer and Washing Machine; Small Homehold Appliance; and Others.

Full company description

Changhong Meiling Co., Ltd. engages in the research, development, and manufacturing of refrigeration appliances and washing machines in China and internationally. It operates through four segments: Air Conditioning; Refrigerator, Freezer and Washing Machine; Small Homehold Appliance; and Others. The company offers a refrigerator (freezer) lineup, which includes the household, commercial, and medical series of professional refrigerating appliances; ultra-low temperature freezers; washing machine lineup, such as the front-load washer, top-load washer, dryer, and washer and dryer combo; kitchen, household, and small home appliances; and air-conditioners, as well as white goods. It also operates research and development centers, research institutes, laboratories, and test stations. The company was formerly known as Hefei Meiling Co., Ltd. and changed its name to Changhong Meiling Company Co., Ltd. in July 2018. Changhong Meiling Company Co., Ltd. was founded in 1983 is based in Hefei, China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Changhong Meiling Co Ltd reported revenue of 30.4B CNY in FY2025 versus 18.0B CNY in FY2021, a compound +14.0%/yr. Reported net income was 410M CNY in FY2025, compounding +67.7%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.

Growth Quality 85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
30.4B CNY
Latest YoY
+6.3%
Avg. revenue growth/yr (3Y) 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.
+14.6%
Avg. revenue growth/yr (5Y) 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.
+14.6%
Avg. revenue growth/yr (33Y) 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.
+13.3%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+54.7% (50.4 + 4.3)
Revenue +14.0%/yr
FY21 18.0B CNY
FY22 20.2B CNY
FY23 24.4B CNY
FY24 28.6B CNY
FY25 30.4B CNY
Net income +67.7%/yr
FY21 51.9M CNY
FY22 245M CNY
FY23 736M CNY
FY24 699M CNY
FY25 410M CNY
Character of growth · EPS growth decomposed (2013-2024) +8.5 % p.a.
Revenue per share +6.0 %

of which total revenue +9.6 % · buybacks/dilution −3.3 %

EBIT margin +2.4 %
Tax rate +1.0 %
Residual (interest, one-offs) −1.0 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Changhong Meiling Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/000521

Peer Group

Furnishings, Fixtures & Appliances · 317 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.

Quality Score 58 · Above median
Fair Value upside +111% · Top 25%
Return on equity (TTM) 5% · Below median
Return on assets 0% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 1% · Below median
Revenue growth −1% · Above median
Dividend yield (TTM) 4.3% · Above median
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Furnishings, Fixtures & Appliances median · lower = cheaper

P/E (TTM) 20.2× · Cheaper than median
P/B 0.83× · Cheaper than median
P/S (TTM) 0.17× · Cheaper than 75% of peers
P/FCF 1.7× · Pricier than median

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 21
FUTURE0 · sector 0
PAST19 · sector 19
HEALTH99 · sector 98
DIVIDEND86 · sector 58

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 Furnishings, Fixtures & Appliances stocks, each showing price versus our Fair Value estimate (as of Aug 16, 2026).

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Haier Smart Home Co 600690 ¥21.79 ¥36.04 +65%
King Slide Works Co 2059 12,500 TWD 1,917 TWD −85%
Guangdong Songfa Ceramics Co 603268 ¥173.26 ¥38.83 −78%
SharkNinja, Inc SN $181.24 $89.07 −51%
Somnigroup International Inc SGI $63.65 $31.69 −50%
Mohawk Industries, Inc MHK $132.17 $119.26 −10%
Hisense Home Appliances Group 000921 ¥26.12 ¥50.62 +94%
Alliance Laundry Holdings ALH $25.91 $7.74 −70%

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Frequently asked questions

Is Changhong Meiling Co Ltd (000521) overvalued or undervalued?
As of Aug 16, 2026, our model estimates a fair value of ¥10.24 versus a price of ¥4.91, about +109% upside (undervalued).
What is the fair value of 000521?
Our model-based fair value for Changhong Meiling Co Ltd is ¥10.24 (as of Aug 16, 2026), built from audited fundamentals. The current price: ¥4.91.
What is the quality score of 000521?
Changhong Meiling Co Ltd has a Quality Score of 58/100. 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 revenue of Changhong Meiling Co Ltd (000521)?
Changhong Meiling Co Ltd reported trailing-twelve-month revenue of about 30.4B CNY (latest available figure, as of Aug 16, 2026).
What is the net profit margin of 000521?
The net profit margin of Changhong Meiling Co Ltd is about 1.0%, meaning it keeps roughly 1.0% of revenue as net income. Based on the latest reported figures.
Does Changhong Meiling Co Ltd pay a dividend?
Changhong Meiling Co Ltd currently shows a dividend yield of about 4.28% relative to its recent price (as of Aug 16, 2026).
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