Global Top E-Commerce Co (002640) Fair Value & Analysis
Consumer Cyclical · CN · Market cap 5.7B CNY
Fair value as of: Jul 22, 2026
From 15 valuation models · updated 19 days ago
Fair value updated Jul 22, 2026, revised from ¥1.65 to ¥1.66 (+0.6%) since Jun 25, 2026. Share price +16.0% over the past month.
A solid business, but screening 50% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (¥2.14). The favourable scenario is already priced in.
- Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
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 ¥1.28 – ¥6.82 · fair‑value band ¥1.26 – ¥2.14 · the ¥3.34 price screens above the ¥1.66 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 22, 2026.
Analysis
Global Top E-Commerce Co (002640) currently trades at ¥3.34, while our model-based Fair Value estimate is ¥1.66, implying the stock looks roughly 50.3% overvalued today. The Quality Score stands at 52/100 (solid 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, Global Top E-Commerce Co generated revenue of 5.5B CNY at a net margin of -4.7%. Revenue grew 2.9% year over year. It earns a return on equity of -34.7%. The balance sheet holds a net cash position of 138M CNY. Fundamentals as of Jul 22, 2026
Our scenario range runs from ¥1.26 (bear case) to ¥2.14 (bull case); at ¥3.34, 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 48% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -49% fair-value upside, at -50%, 002640 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.
All 15 models by family
Widest divergence: DCF Models (¥2.91) versus Asset-Based (¥0.2000). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 50 · Market factors (momentum, volatility) 25
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
Global Top E-Commerce Co., Ltd. operates as a cross-border e-commerce company in the People's Republic of China and internationally. It offers clothing, home furnishings, accessories, maternal and child products, and health care products through online sales platforms, such as Zaful.
Full company description
Global Top E-Commerce Co., Ltd. operates as a cross-border e-commerce company in the People's Republic of China and internationally. It offers clothing, home furnishings, accessories, maternal and child products, and health care products through online sales platforms, such as Zaful. The company also provides swimwear, women's wear, dresses, and trousers and similar items. It also exports its products. The company was formerly known as Shanxi Baiyuan Trousers Chain Management Co., Ltd. and changed its name to Global Top E-Commerce Co., Ltd. in June 2015.Global Top E-Commerce Co., Ltd. was incorporated in 1995 and is based in Taiyuan, the People's Republic of China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Global Top E-Commerce Co reported revenue of ¥5.4B in FY2025 versus ¥8.8B in FY2021, a compound −11.4%/yr. Reported net income was −¥417M in FY2025.
002640 screens 50% overvalued. Compare with Amazon.com, Inc →
Peer Group
Internet Retail · 109 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.
Valuation Multiples vs Internet Retail median · lower = cheaper
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: 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.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Internet Retail stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Amazon.com, Inc AMZN | $245.34 | $127.67 | -48% |
| Alibaba Group BABA | $114.97 | $75.75 | -34% |
| PDD Holdings PDD | $84.14 | $223.51 | +166% |
| MercadoLibre, Inc MELI | $1,814 | $798.98 | -56% |
| DoorDash, Inc DASH | $190.16 | $38.64 | -80% |
| Sea Limited SE | $106.22 | $52.70 | -50% |
| eBay Inc EBAY | $117.20 | $60.13 | -49% |
| JD.com, Inc JD | €25.95 | €31.88 | +23% |
| Coupang, Inc CPNG | $16.86 | $2.79 | -83% |
| Delivery Hero SE DHER | €38.18 | €12.71 | -67% |
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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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