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Winnovation Culturaltainment Development Limited (000620) Fair Value & Analysis

Industrials · CN · Market cap 17.3B CNY

WC Winnovation Culturaltainment Development Limited 000620 · SHE
Price¥2.75
Fair Value¥1.33
Upside-51.6%
Quality42/100
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Weak Growth
Loss-making · -69.8% net margin
Low debt · generates free cash flow
Trails peers (1/11)
Narrow moat 9/100
Evidence: Medium Range ¥0.6200 – ¥2.49 Share as image

Fair value as of: Aug 13, 2026

From 3 valuation models · updated today

Fair value updated Aug 13, 2026, revised from ¥0.1000 to ¥1.33 (+1,230.0%) since Aug 7, 2026. Share price −24.2% over the past month.

Below-average quality, and screening another 52% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥2.49). The favourable scenario is already priced in.
  • Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The model range is unusually wide (¥0.6200 to ¥2.49). The outcome hinges heavily on assumptions, so read the point estimate with caution.
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Price vs Fair Value (5 years)

¥4.44 ¥0.9700 Fair Value ¥1.33 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ¥0.9700 – ¥4.44 · fair‑value band ¥0.6200 – ¥2.49 · the ¥2.75 price screens above the ¥1.33 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Winnovation Culturaltainment Development Limited (000620) currently trades at ¥2.75, while our model-based Fair Value estimate is ¥1.33, implying the stock looks roughly 51.6% overvalued today. The Quality Score stands at 42/100 (below-average quality), in the Industrials 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: medium).

Over the trailing twelve months, Winnovation Culturaltainment Development Limited generated revenue of 1.7B CNY at a net margin of -69.8%. Revenue declined 2.2% year over year. It earns a return on equity of -27.1%. Net debt stands at 277M CNY. Fundamentals as of Aug 13, 2026

Our scenario range runs from ¥0.6200 (bear case) to ¥2.49 (bull case); at ¥2.75, 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 33% below its 52-week high and 79% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 11% fair-value upside, at -52%, 000620 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.

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
Growth DCF ¥0.6000 ¥1.23 ¥2.27 80
Rev-Margin DCF ¥0.4900 ¥0.9000 ¥1.76 74
NCAV (Graham) ¥0.3200 ¥0.4300 ¥0.6400 50
All 3 models by family
Asset-Based
NCAV (Graham) ¥0.3200 ¥0.4300 ¥0.6400 50
Growth DCF
Growth DCF ¥0.6000 ¥1.23 ¥2.27 80
Rev-Margin DCF ¥0.4900 ¥0.9000 ¥1.76 74

Widest divergence: Growth DCF (¥0.9000) versus Asset-Based (¥0.4300). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.7B CNY
Revenue growth (YoY) -2.2%
Net margin -69.8%
Return on equity -27.1%
Free cash flow 238M CNY FY2025
Operating margin -29.9%
More key figures
EPS (TTM) ¥-0.2000
EPS growth (YoY) -66.7%
Net debt 277M CNY FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 42/100

Of which business quality 46 · Market factors (momentum, volatility) 57

Profitability 1
Margins and returns on capital today
Quality Growth 21
Are margins and returns improving?
Cashflow 73
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 52
Price trend over the last 3–12 months (market factor)
52W Momentum 74
Distance to the 52-week high (market factor)
Net Issuance 44
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.

About the company

Winnovation Culturaltainment Development Limited, together with its subsidiaries, engages in real estate development activities in China. It operates through Real Estate Business, Cultural Tourism Business, and Other Businesses segments.

Full company description

Winnovation Culturaltainment Development Limited, together with its subsidiaries, engages in real estate development activities in China. It operates through Real Estate Business, Cultural Tourism Business, and Other Businesses segments. The company is also involved in the development and operation of cultural and tourism scenic spots covering museums, cultural performances, entertainment experiences, guest houses, and cultural tourism design institutes; hotel management; travel agency; construction and engineering; property services; tourism services; planning and design; schools; and other businesses. In addition, the company provides business and investing services. The company was formerly known as Macrolink Culturaltainment Development Co., Ltd. and changed its name to Winnovation Culturaltainment Development Limited in June 2025. Winnovation Culturaltainment Development Limited was founded in 1993 and is based in Beijing, China. Winnovation Culturaltainment Development Limited is a subsidiary of Macrolink Holding Co., Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Winnovation Culturaltainment Development Limited reported revenue of ¥1.7B in FY2025 versus ¥8.6B in FY2021, a compound −33.2%/yr. Reported net income was −¥1.2B in FY2025.

Growth Quality 15/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.7B CNY
Latest YoY
−43.8%
Avg. 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.
−31.2%
Avg. 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.
−24.7%
Avg. growth/yr (30Y) 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.
+2.8%
Revenue −33.2%/yr
FY21 ¥8.6B
FY22 ¥5.3B
FY23 ¥3.9B
FY24 ¥3.0B
FY25 ¥1.7B
Net income
FY21 −¥3.9B
FY22 −¥3.4B
FY23 ¥352M
FY24 −¥533M
FY25 −¥1.2B

000620 screens 52% overvalued. Compare with ITOCHU Corporation →

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Cite: Fair Value Calculator (2026). "Winnovation Culturaltainment Development Limited Fair Value". https://www.fairvalue-calculator.com/stock/000620

Peer Group

Conglomerates · 385 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 44 · Below median
Fair Value upside −52% · Below median
Return on assets -5% · Bottom 25%
Net margin (TTM) -70% · Bottom 25%
Operating margin (TTM) -30% · Bottom 25%
Revenue growth -2% · Below median
Debt / equity 0.29× · Higher than median

Valuation Multiples vs Conglomerates median · lower = cheaper

P/B 0.68× · Cheaper than median
P/S (TTM) 1.50× · Pricier than median
P/FCF 10.7× · Pricier than 75% of peers

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 · sector 27
FUTURE 0 · sector 17
PAST 0 · sector 18
HEALTH 85 · sector 89
DIVIDEND 0 · sector 39

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.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Conglomerates stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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SRF Limited SRF ₹2,585 ₹859.71 -67%
Empresas Copec S.A COPEC 6,030 CLP 10,809 CLP +79%
Posco International Corporation 047050 54,300 KRW 71,119 KRW +31%
Tube Investments of India Limited TIINDIA ₹2,839 ₹723.80 -75%
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Thermax Limited THERMAX ₹4,002 ₹1,343 -66%

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Frequently asked questions

Is Winnovation Culturaltainment Development Limited (000620) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ¥1.33 versus a price of ¥2.75, about −52% (overvalued).
What is the fair value of 000620?
Our model-based fair value for Winnovation Culturaltainment Development Limited is ¥1.33 (as of Aug 13, 2026), built from audited fundamentals. The current price is ¥2.75.
What is the quality score of 000620?
Winnovation Culturaltainment Development Limited has a Quality Score of 42/100. 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 Winnovation Culturaltainment Development Limited (000620)?
Winnovation Culturaltainment Development Limited reported trailing-twelve-month revenue of about 1.7B CNY (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 000620?
The net profit margin of Winnovation Culturaltainment Development Limited is about -69.8%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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