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Zhejiang Jiaxin Silk Corp (002404) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 3.5B CNY

ZJ Zhejiang Jiaxin Silk Corp 002404 · SHE
Price¥5.88
Fair Value¥6.41
Upside+9.0%
Quality69/100
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Healthy Growth
Thin margins · 3.8% net margin
Low debt · generates free cash flow
4.73% dividend yield
Ranks above peers (10/14)
Narrow moat 33/100
Evidence: High Range ¥4.85 – ¥7.98 Share as image

Fair value as of: Jul 22, 2026

From 26 valuation models · updated 19 days ago

Fair value updated Jul 22, 2026, revised from ¥7.07 to ¥6.41 (−9.3%) since Jun 25, 2026. Share price +1.9% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from ¥4.85 (bear) to ¥7.98 (bull), base ¥6.41. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 69/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

¥7.55 ¥3.79 Fair Value ¥6.41 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.

How to read this chart

60‑month range ¥3.79 – ¥7.55 · fair‑value band ¥4.85 – ¥7.98 · the ¥5.88 price screens below the ¥6.41 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 22, 2026.

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Analysis

Zhejiang Jiaxin Silk Corp (002404) currently trades at ¥5.88, while our model-based Fair Value estimate is ¥6.41, implying the stock looks roughly 9.0% fairly valued today. The Quality Score stands at 69/100 (solid quality), in the Consumer Cyclical 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: high), always confirm before acting.

Over the trailing twelve months, Zhejiang Jiaxin Silk Corp generated revenue of 4.8B CNY at a net margin of 3.8%. Revenue grew 7.9% year over year. It earns a return on equity of 9.3%. The balance sheet holds a net cash position of 89.0M CNY. Fundamentals as of Jul 22, 2026

Our scenario range runs from ¥4.85 (bear case) to ¥7.98 (bull case); at ¥5.88, the current price sits within 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 3% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 1% fair-value upside, at 9%, 002404 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
Growth DCF ¥9.49 ¥13.38 ¥18.81 80
Residual Income ¥3.05 ¥3.31 ¥3.94 76
Rev-Margin DCF ¥6.49 ¥8.98 ¥11.93 74
All 26 models by family
DCF Models
FCF DCF ¥9.40 ¥13.88 ¥20.58 38
Owner Earnings ¥5.32 ¥7.54 ¥10.86 31
5Y Revenue Exit ¥6.49 ¥8.90 ¥11.90 39
5Y EBITDA Exit ¥6.90 ¥9.68 ¥12.87 41
5Y P/E Exit ¥7.25 ¥10.35 ¥13.58 38
10Y Revenue Exit ¥7.39 ¥9.83 ¥13.02 36
10Y EBITDA Exit ¥7.75 ¥10.37 ¥13.75 37
10Y P/E Exit ¥7.97 ¥10.82 ¥14.29 35
Earnings-Based
Graham-Dodd ¥2.19 ¥7.26 ¥9.72 54
Lynch FV ¥1.64 ¥2.35 ¥3.05 50
PEG = 1.0 ¥1.64 ¥2.35 ¥3.05 46
EPV ¥4.33 ¥4.80 ¥5.21 59
Dividend Discount
Gordon GGM ¥2.90 ¥5.78 ¥8.75 70
DDM Multi-Stage ¥2.90 ¥4.85 ¥6.10 61
Multiples
P/E Multiple ¥5.31 ¥7.07 ¥8.84 63
P/S Multiple ¥4.10 ¥5.47 ¥6.83 58
P/B Multiple ¥4.10 ¥5.47 ¥6.83 55
EV/EBIT ¥6.83 ¥8.66 ¥10.50 53
EV/EBITDA ¥6.01 ¥7.58 ¥9.14 54
EV/Revenue ¥5.03 ¥6.62 ¥8.21 43
Asset-Based
NCAV (Graham) ¥1.79 ¥2.40 ¥3.58 50
Growth DCF
Growth DCF ¥9.49 ¥13.38 ¥18.81 80
Rev-Margin DCF ¥6.49 ¥8.98 ¥11.93 74
Economic Profit
Residual Income ¥3.05 ¥3.31 ¥3.94 76
ROIC Compounder ¥4.49 ¥5.34 ¥6.36 72
Growth Earnings
Growth-Adj P/E ¥4.47 ¥6.38 ¥8.29 68

Widest divergence: DCF Models (¥9.83) versus Earnings-Based (¥2.35). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 4.8B CNY
Revenue growth (YoY) +7.9%
Net margin 3.8%
Return on equity 9.3%
Free cash flow 412M CNY FY2025
P/E ratio 18.8
More key figures
Operating margin 7.1%
EPS (TTM) ¥0.3300
Dividend yield 4.7%
EPS growth (YoY) +11.1%
Net cash 89.0M CNY FY2024

Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 69/100

Of which business quality 70 · Market factors (momentum, volatility) 41

Profitability 48
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 70
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 78
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 18
Distance to the 52-week high (market factor)
Net Issuance 77
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

Zhejiang Jiaxin Silk Corp.,Ltd. engages in the research, development, production, and sale of silk products in China and internationally. It operates through Silk Apparel and Related Industries, Investment Properties and Related, Investment, and Financial Leasing and Pawnbroking segments.

Full company description

Zhejiang Jiaxin Silk Corp.,Ltd. engages in the research, development, production, and sale of silk products in China and internationally. It operates through Silk Apparel and Related Industries, Investment Properties and Related, Investment, and Financial Leasing and Pawnbroking segments. The company offers silk underwear, sleepwear and loungewear, cultural and creative gifts, home textiles, scarves, and accessories under the Jin San Ta brand through its offline stores and online marketing channels; knitted underwear; and jacquard garments. It is also involved in the manufacture of precision metal products, including electrical hardware, electronic hardware, appliance hardware, apparel hardware, furniture hardware, and photovoltaic equipment accessories; and operation of an industry supply chain public platform. In addition, the company engages in real estate and education; business services; wholesale and retail; general trade; leasing; financial services; electricity and heat production and supply; metal products; weaving; testing services; technology promotion and application services; industrial park operation services; warehousing and logistics services; and investment activities. It exports its products to approximately 60 countries and regions, including Europe, America, Japan, and India. Zhejiang Jiaxin Silk Corp.,Ltd. was founded in 1984 and is headquartered in Jiaxing, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Zhejiang Jiaxin Silk Corp reported revenue of ¥4.8B in FY2025 versus ¥3.7B in FY2021, a compound +6.5%/yr. Reported net income was ¥180M in FY2025, compounding +8.3%/yr from FY2021.

Growth Quality 88/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
4.8B CNY
Latest YoY
+4.1%
Avg. growth/yr (3Y)
+3.2%
Avg. growth/yr (5Y)
+12.8%
Avg. growth/yr (19Y)
+6.2%
Revenue +6.5%/yr
FY21 ¥3.7B
FY22 ¥4.3B
FY23 ¥4.3B
FY24 ¥4.6B
FY25 ¥4.8B
Net income +8.3%/yr
FY21 ¥131M
FY22 ¥230M
FY23 ¥217M
FY24 ¥161M
FY25 ¥180M

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Cite: Fair Value Calculator (2026). "Zhejiang Jiaxin Silk Corp Fair Value". https://www.fairvalue-calculator.com/stock/002404

Peer Group

Apparel Manufacturing · 212 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 69 · Top 25%
Fair Value upside +9% · Above median
Return on equity (TTM) 9% · Above median
Return on assets 4% · Above median
Net margin (TTM) 4% · Above median
Operating margin (TTM) 7% · Above median
Revenue growth 8% · Above median
Dividend yield (TTM) 4.7% · Above median
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Apparel Manufacturing median · lower = cheaper

P/E (TTM) 18.8× · Cheaper than median
P/B 1.73× · Pricier than median
P/S (TTM) 0.72× · Pricier than median
P/FCF 1.3× · Pricier than median
EV/EBITDA 9.1× · Pricier than median

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 45 · sector 33
FUTURE 40 · sector 4
PAST 37 · sector 21
HEALTH 100 · sector 98
DIVIDEND 95 · sector 49

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 Apparel Manufacturing stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
H & M Hennes & Mauritz AB HMB kr 163.45 kr 165.47 +1%
Ralph Lauren Corporation RL $374.08 $224.21 -40%
Moncler S.p.A MONC €52.08 €50.69 -3%
LPP SA LPP 19,380 PLN 17,754 PLN -8%
Bosideng International Holdings 3998 HK$4.88 HK$5.92 +21%
Youngor Fashion Co 600177 ¥7.57 ¥5.59 -26%
Page Industries Limited PAGEIND ₹39,900 ₹12,395 -69%
Hla Group 600398 ¥6.05 ¥9.92 +64%
Eclat Textile Co 1476 333.50 TWD 357.81 TWD +7%
Youngone Corporation 111770 87,600 KRW 196,629 KRW +124%

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Frequently asked questions

Is Zhejiang Jiaxin Silk Corp (002404) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of ¥6.41 versus a price of ¥5.88, about +9% (fairly valued).
What is the fair value of 002404?
Our model-based fair value for Zhejiang Jiaxin Silk Corp is ¥6.41 (as of Jul 22, 2026), built from audited fundamentals. The current price is ¥5.88.
What is the quality score of 002404?
Zhejiang Jiaxin Silk Corp has a Quality Score of 69/100. 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 Zhejiang Jiaxin Silk Corp (002404)?
Zhejiang Jiaxin Silk Corp reported trailing-twelve-month revenue of about 4.8B CNY (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 002404?
The net profit margin of Zhejiang Jiaxin Silk Corp is about 3.8%, meaning it keeps roughly 3.8% of revenue as net income. Based on the latest reported figures.
Does Zhejiang Jiaxin Silk Corp pay a dividend?
Zhejiang Jiaxin Silk Corp currently shows a dividend yield of about 4.73% relative to its recent price (as of Jul 22, 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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