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Hangzhou Binjiang Real Estate Group (002244) Fair Value & Analysis

Real Estate · CN · Market cap 27.2B CNY

HB Hangzhou Binjiang Real Estate Group 002244 · SHE
Price¥8.50
Fair Value¥22.50
Upside+164.7%
Quality46/100
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Expensive Growth
Thin margins · 2.7% net margin
Moderate debt · negative free cash flow
0.74% dividend yield
Mixed vs. peers (7/14)
Narrow moat 26/100
Evidence: Medium Range ¥16.28 – ¥28.72 Share as image

Fair value as of: Jul 25, 2026

From 9 valuation models · updated 16 days ago

Fair value updated Jul 25, 2026, revised from ¥19.50 to ¥22.50 (+15.4%) since Jun 26, 2026. Share price +10.0% over the past month.

Below-average quality, screening 165% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (¥16.28). The market is more pessimistic than our downside scenario.
  • Solid quality (46/100) at a price below fair value, the discount is the argument here, not the business quality.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

¥12.55 ¥3.58 Fair Value ¥22.50 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 25, 2026.

How to read this chart

60‑month range ¥3.58 – ¥12.55 · fair‑value band ¥16.28 – ¥28.72 · the ¥8.50 price screens below the ¥22.50 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 25, 2026.

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Analysis

Hangzhou Binjiang Real Estate Group (002244) currently trades at ¥8.50, while our model-based Fair Value estimate is ¥22.50, implying the stock looks roughly 164.7% undervalued today. The Quality Score stands at 46/100 (below-average quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Hangzhou Binjiang Real Estate Group generated revenue of 72.9B CNY at a net margin of 2.7%. Revenue declined 44.5% year over year. It earns a return on equity of 6.6%. The balance sheet holds a net cash position of 9.5B CNY. Fundamentals as of Jul 25, 2026

Our scenario range runs from ¥16.28 (bear case) to ¥28.72 (bull case); at ¥8.50, 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 34% below its 52-week high, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at 165%, 002244 screens cheaper 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 BearBaseBull Evidence
Highest evidence
Residual Income ¥7.77 ¥8.23 ¥8.88 76
Gordon GGM ¥3.86 ¥8.02 ¥12.72 70
DDM Multi-Stage ¥3.86 ¥6.76 ¥8.41 61
All 9 models by family
Dividend Discount
Gordon GGM ¥3.86 ¥8.02 ¥12.72 70
DDM Multi-Stage ¥3.86 ¥6.76 ¥8.41 61
Multiples
P/S Multiple ¥8.67 ¥11.56 ¥14.45 58
P/B Multiple ¥8.67 ¥11.56 ¥14.45 55
EV/EBIT ¥46.82 ¥61.93 ¥77.05 53
EV/EBITDA ¥39.44 ¥52.09 ¥64.75 54
EV/Revenue ¥26.48 ¥37.20 ¥47.92 43
Asset-Based
NCAV (Graham) ¥4.74 ¥6.35 ¥9.47 50
Economic Profit
Residual Income ¥7.77 ¥8.23 ¥8.88 76

Widest divergence: Multiples (¥37.20) versus Asset-Based (¥6.35). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 72.9B CNY
Revenue growth (YoY) -44.5%
Net margin 2.7%
Return on equity 6.6%
Free cash flow −4.3B CNY FY2025
P/E ratio 13.9
More key figures
Operating margin 7.4%
EPS (TTM) ¥0.6300
Dividend yield 0.7%
EPS growth (YoY) -16.1%
Net cash 9.5B CNY FY2024

Figures from reported company fundamentals · as of Jul 25, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 46/100

Of which business quality 44 · Market factors (momentum, volatility) 30

Profitability 22
Margins and returns on capital today
Quality Growth 70
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 47
Balance sheet, leverage, solvency risk
Investment 87
Disciplined investing over empire-building
Low Volatility 62
Calm price path (market factor)
Momentum 20
Price trend over the last 3–12 months (market factor)
52W Momentum 10
Distance to the 52-week high (market factor)
Net Issuance 81
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

Hangzhou Binjiang Real Estate Group Co.,Ltd engages in the real estate development and related businesses in China. It involved in the leasing of office buildings, commercial podiums, community retail spaces, and apartments. The company was founded in 2006 and is based in Hangzhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Hangzhou Binjiang Real Estate Group reported revenue of ¥82.9B in FY2025 versus ¥38.0B in FY2021, a compound +21.5%/yr. Reported net income was ¥2.1B in FY2025, compounding −8.6%/yr from FY2021.

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
82.9B CNY
Latest YoY
+19.9%
Avg. growth/yr (3Y)
+25.9%
Avg. growth/yr (5Y)
+23.7%
Avg. growth/yr (20Y)
+25.1%
Revenue +21.5%/yr
FY21 ¥38.0B
FY22 ¥41.5B
FY23 ¥70.4B
FY24 ¥69.2B
FY25 ¥82.9B
Net income −8.6%/yr
FY21 ¥3.0B
FY22 ¥3.7B
FY23 ¥2.5B
FY24 ¥2.5B
FY25 ¥2.1B

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Cite: Fair Value Calculator (2026). "Hangzhou Binjiang Real Estate Group Fair Value". https://www.fairvalue-calculator.com/stock/002244

Peer Group

Real Estate - Development · 588 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 48 · Above median
Fair Value upside +165% · Top 25%
Return on equity (TTM) 7% · Above median
Return on assets 1% · Above median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 7% · Below median
Revenue growth -45% · Bottom 25%
Dividend yield (TTM) 0.7% · Below median
Debt / equity 0.88× · Higher than 75% of peers

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/E (TTM) 13.9× · Pricier than median
P/B 0.92× · Pricier than median
P/S (TTM) 0.37× · Cheaper than median
EV/EBITDA 4.1× · Cheaper than 75% of peers
PEG 0.27× · Cheaper 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 100 · sector 48
FUTURE 0 · sector 0
PAST 26 · sector 10
HEALTH 56 · sector 84
DIVIDEND 15 · sector 38

Insider activity: 45/100

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 Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Jul 25, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹657.75 ₹159.49 -76%
Lodha Developers Limited LODHA ₹1,188 ₹583.43 -51%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,125 IDR 1,330 IDR -78%
Oberoi Realty Limited OBEROIRLTY ₹1,925 ₹1,183 -39%
Godrej Properties Limited GODREJPROP ₹2,102 ₹1,044 -50%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 555.00 IDR 1,388 IDR +150%
PT Sentul City Tbk, BKSL 64.00 IDR 84.16 IDR +32%
PT Ciputra Development Tbk, CTRA 555.00 IDR 1,388 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,100 IDR 6,239 IDR +52%

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Frequently asked questions

Is Hangzhou Binjiang Real Estate Group (002244) overvalued or undervalued?
As of Jul 25, 2026, our model estimates a fair value of ¥22.50 versus a price of ¥8.50, about +165% (undervalued).
What is the fair value of 002244?
Our model-based fair value for Hangzhou Binjiang Real Estate Group is ¥22.50 (as of Jul 25, 2026), built from audited fundamentals. The current price is ¥8.50.
What is the quality score of 002244?
Hangzhou Binjiang Real Estate Group has a Quality Score of 46/100. 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 Hangzhou Binjiang Real Estate Group (002244)?
Hangzhou Binjiang Real Estate Group reported trailing-twelve-month revenue of about 72.9B CNY (latest available figure, as of Jul 25, 2026).
What is the net profit margin of 002244?
The net profit margin of Hangzhou Binjiang Real Estate Group is about 2.7%, meaning it keeps roughly 2.7% of revenue as net income. Based on the latest reported figures.
Does Hangzhou Binjiang Real Estate Group pay a dividend?
Hangzhou Binjiang Real Estate Group currently shows a dividend yield of about 0.74% relative to its recent price (as of Jul 25, 2026).

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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