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ZheJiang Haers Vacuum Containers Co (002615) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 4.3B CNY

ZH ZheJiang Haers Vacuum Containers Co 002615 · SHE
Price¥6.53
Fair Value¥4.51
Upside-30.9%
Quality37/100
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Expensive Growth
Thin margins · 0.9% net margin
Low debt · negative free cash flow
Trails peers (2/12)
Narrow moat 33/100
Evidence: High Range ¥3.41 – ¥5.04 Share as image

Fair value as of: Jul 22, 2026

From 16 valuation models · updated 19 days ago

Fair value updated Jul 22, 2026, revised from ¥2.74 to ¥4.51 (+64.7%) since Jun 25, 2026. Share price −11.8% over the past month.

Below-average quality, and screening another 31% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥5.04). The favourable scenario is already priced in.
  • Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

¥10.66 ¥3.22 Fair Value ¥4.51 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 ¥3.22 – ¥10.66 · fair‑value band ¥3.41 – ¥5.04 · the ¥6.53 price screens above the ¥4.51 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 Haers Vacuum Containers Co (002615) currently trades at ¥6.53, while our model-based Fair Value estimate is ¥4.51, implying the stock looks roughly 30.9% overvalued today. The Quality Score stands at 37/100 (below-average quality), in the Consumer Cyclical 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, ZheJiang Haers Vacuum Containers Co generated revenue of 3.3B CNY at a net margin of 0.9%. Revenue grew 12.5% year over year. It earns a return on equity of 1.5%. Net debt stands at 14.4M CNY. Fundamentals as of Jul 22, 2026

Our scenario range runs from ¥3.41 (bear case) to ¥5.04 (bull case); at ¥6.53, 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, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -22% fair-value upside, at -31%, 002615 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 BearBaseBull Evidence
Highest evidence
Residual Income ¥2.22 ¥2.23 ¥2.04 76
ROIC Compounder ¥2.22 ¥2.48 ¥2.70 72
Gordon GGM ¥2.13 ¥4.25 ¥6.44 70
All 16 models by family
Earnings-Based
Graham-Dodd ¥0.8500 ¥3.77 ¥5.16 54
Lynch FV ¥0.9800 ¥1.39 ¥1.81 50
PEG = 1.0 ¥0.9800 ¥1.39 ¥1.81 46
EPV ¥2.22 ¥2.48 ¥2.70 59
Dividend Discount
Gordon GGM ¥2.13 ¥4.25 ¥6.44 70
DDM Multi-Stage ¥2.13 ¥3.67 ¥4.49 61
Multiples
P/E Multiple ¥2.07 ¥2.76 ¥3.45 63
P/S Multiple ¥1.60 ¥2.13 ¥2.66 58
P/B Multiple ¥1.60 ¥2.13 ¥2.66 55
EV/EBIT ¥3.62 ¥4.64 ¥5.66 53
EV/EBITDA ¥4.73 ¥6.12 ¥7.51 54
EV/Revenue ¥2.62 ¥3.51 ¥4.39 43
Asset-Based
NCAV (Graham) ¥1.49 ¥1.99 ¥2.97 50
Economic Profit
Residual Income ¥2.22 ¥2.23 ¥2.04 76
ROIC Compounder ¥2.22 ¥2.48 ¥2.70 72
Growth Earnings
Growth-Adj P/E ¥1.65 ¥2.35 ¥3.06 68

Widest divergence: Dividend Discount (¥3.67) versus Earnings-Based (¥1.39). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 3.3B CNY
Revenue growth (YoY) +12.5%
Net margin 0.9%
Return on equity 1.5%
Free cash flow −213M CNY FY2025
P/E ratio 127.0
More key figures
Operating margin 5.8%
EPS (TTM) ¥0.0600
EPS growth (YoY) -97.1%
Net debt 14.4M CNY FY2025

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

Quality Score breakdown

Overall quality 37/100

Of which business quality 40 · Market factors (momentum, volatility) 31

Profitability 34
Margins and returns on capital today
Quality Growth 23
Are margins and returns improving?
Cashflow 35
Earnings quality: real cash, not paper profit
Fin. Strength 63
Balance sheet, leverage, solvency risk
Investment 32
Disciplined investing over empire-building
Low Volatility 74
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 48
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 Haers Vacuum Containers Co.,Ltd. engages in the research, development, design, production, and sale of cups and pots of various materials in China and internationally. The company offers stainless steel vacuum insulated containers, stainless steel utensils, plastic cups, and glass cups, under the Hals, SIGG, NONOO, and SANTECO brands.

Full company description

ZheJiang Haers Vacuum Containers Co.,Ltd. engages in the research, development, design, production, and sale of cups and pots of various materials in China and internationally. The company offers stainless steel vacuum insulated containers, stainless steel utensils, plastic cups, and glass cups, under the Hals, SIGG, NONOO, and SANTECO brands. The company also offers glass ceramic products, silicone products, corn fiber, rice fiber, bamboo fiber products, baby bottles, nipples, and grinder. It also imports and exports its products. The company has strategic alliance with B.Duck Semk Holdings International Limited. The company was formerly known as Zhejiang Hals Industry & Trade Co., Ltd. and changed its name to ZheJiang Haers Vacuum Containers Co.,Ltd. in 2008. ZheJiang Haers Vacuum Containers Co.,Ltd. was founded in 1985 and is headquartered in Yongkang, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ZheJiang Haers Vacuum Containers Co reported revenue of ¥3.2B in FY2025 versus ¥2.4B in FY2021, a compound +7.9%/yr. Reported net income was ¥70.2M in FY2025, compounding −15.2%/yr from FY2021.

Growth Quality 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
3.2B CNY
Latest YoY
−2.8%
Avg. growth/yr (3Y)
+10.1%
Avg. growth/yr (5Y)
+16.8%
Avg. growth/yr (18Y)
+15.5%
Revenue +7.9%/yr
FY21 ¥2.4B
FY22 ¥2.4B
FY23 ¥2.4B
FY24 ¥3.3B
FY25 ¥3.2B
Net income −15.2%/yr
FY21 ¥136M
FY22 ¥206M
FY23 ¥250M
FY24 ¥287M
FY25 ¥70.2M

002615 screens 31% overvalued. Compare with Stora Enso Oyj →

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Cite: Fair Value Calculator (2026). "ZheJiang Haers Vacuum Containers Co Fair Value". https://www.fairvalue-calculator.com/stock/002615

Peer Group

Packaging & Containers · 273 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 37 · Bottom 25%
Fair Value upside −31% · Below median
Return on equity (TTM) 1% · Below median
Return on assets 2% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 6% · Above median
Revenue growth 13% · Top 25%
Debt / equity 0.32× · Higher than median

Valuation Multiples vs Packaging & Containers median · lower = cheaper

P/E (TTM) 127.0× · Pricier than 75% of peers
P/B 2.56× · Pricier than 75% of peers
P/S (TTM) 1.28× · Pricier than median
EV/EBITDA 18.4× · 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 9
FUTURE 63 · sector 1
PAST 6 · sector 21
HEALTH 84 · sector 92
DIVIDEND 0 · sector 42

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 Packaging & Containers stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
Stora Enso Oyj STER kr 101.90 kr 126.39 +24%
ShenZhen YUTO Packaging Technology Co 002831 ¥29.10 ¥20.88 -28%
SCG Packaging Public Company SCGP 29.00 THB 16.12 THB -44%
AblePrint Technology Co 7734 2,850 TWD 661.69 TWD -77%
PT Fajar Surya Wisesa Tbk, FASW 5,312 IDR 1,194 IDR -78%
Taiwan Hon Chuan Enterprise Co 9939 132.50 TWD 127.06 TWD -4%
Time Technoplast Limited TIMETECHNO ₹206.82 ₹161.42 -22%
EPL Limited 500135 ₹222.25 ₹111.65 -50%
Ton Yi Industrial Corp 9907 15.15 TWD 23.17 TWD +53%
Dongwon Systems Corporation 014820 19,330 KRW 31,473 KRW +63%

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Frequently asked questions

Is ZheJiang Haers Vacuum Containers Co (002615) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of ¥4.51 versus a price of ¥6.53, about −31% (overvalued).
What is the fair value of 002615?
Our model-based fair value for ZheJiang Haers Vacuum Containers Co is ¥4.51 (as of Jul 22, 2026), built from audited fundamentals. The current price is ¥6.53.
What is the quality score of 002615?
ZheJiang Haers Vacuum Containers Co has a Quality Score of 37/100. 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 Haers Vacuum Containers Co (002615)?
ZheJiang Haers Vacuum Containers Co reported trailing-twelve-month revenue of about 3.3B CNY (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 002615?
The net profit margin of ZheJiang Haers Vacuum Containers Co is about 0.9%, meaning it keeps roughly 0.9% of revenue as net income. 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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