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HaiXin Foods Co (002702) Fair Value & Analysis

Consumer Defensive · CN · Market cap 2.8B CNY

HF HaiXin Foods Co 002702 · SHE
Price¥4.93
Fair Value¥0.9000
Upside-81.7%
Quality39/100
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Weak Growth
Loss-making · -2.3% net margin
Low debt · negative free cash flow
Trails peers (4/11)
Narrow moat 19/100
Evidence: Low Range ¥0.5500 – ¥1.25 Share as image

Fair value as of: Jul 24, 2026

From 4 valuation models · updated 17 days ago

Share price +8.8% over the past month.

Below-average quality, and screening another 82% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥1.25). The favourable scenario is already priced in.
  • Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • A fairly wide model range (¥0.5500 to ¥1.25) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥11.06 ¥2.97 Fair Value ¥0.9000 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 24, 2026.

How to read this chart

60‑month range ¥2.97 – ¥11.06 · fair‑value band ¥0.5500 – ¥1.25 · the ¥4.93 price screens above the ¥0.9000 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 24, 2026.

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Analysis

HaiXin Foods Co (002702) currently trades at ¥4.93, while our model-based Fair Value estimate is ¥0.9000, implying the stock looks roughly 81.7% overvalued today. The Quality Score stands at 39/100 (below-average quality), in the Consumer Defensive 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: low).

Over the trailing twelve months, HaiXin Foods Co generated revenue of 1.7B CNY at a net margin of -2.3%. Revenue grew 43.8% year over year. It earns a return on equity of -3.4%. Net debt stands at 277M CNY. Fundamentals as of Jul 24, 2026

Our scenario range runs from ¥0.5500 (bear case) to ¥1.25 (bull case); at ¥4.93, 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 56% below its 52-week high and 25% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -3% fair-value upside, at -82%, 002702 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
Gordon GGM ¥0.2200 ¥0.4300 ¥0.6600 70
DDM Multi-Stage ¥0.2200 ¥0.3500 ¥0.4600 61
EV/EBITDA ¥0.9400 ¥1.29 ¥1.64 54
All 4 models by family
Dividend Discount
Gordon GGM ¥0.2200 ¥0.4300 ¥0.6600 70
DDM Multi-Stage ¥0.2200 ¥0.3500 ¥0.4600 61
Multiples
EV/EBITDA ¥0.9400 ¥1.29 ¥1.64 54
Asset-Based
NCAV (Graham) ¥0.9200 ¥1.24 ¥1.84 50

Widest divergence: Multiples (¥1.29) versus Dividend Discount (¥0.3500). Highest evidence: Gordon GGM (70).

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Key figures & financial health

Revenue (TTM) 1.7B CNY
Revenue growth (YoY) +43.8%
Net margin -2.3%
Return on equity -3.4%
Free cash flow −173M CNY FY2025
Operating margin 4.6%
More key figures
EPS (TTM) ¥-0.0700
EPS growth (YoY) +836%
Net debt 277M CNY FY2025

Figures from reported company fundamentals · as of Jul 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 39/100

Of which business quality 40 · Market factors (momentum, volatility) 35

Profitability 19
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 9
Earnings quality: real cash, not paper profit
Fin. Strength 67
Balance sheet, leverage, solvency risk
Investment 71
Disciplined investing over empire-building
Low Volatility 54
Calm price path (market factor)
Momentum 25
Price trend over the last 3–12 months (market factor)
52W Momentum 31
Distance to the 52-week high (market factor)
Net Issuance 53
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

HaiXin Foods Co.,Ltd, together with its subsidiaries, produces and sells quick-frozen surimi products in China and internationally.

Full company description

HaiXin Foods Co.,Ltd, together with its subsidiaries, produces and sells quick-frozen surimi products in China and internationally. The company offers quick-frozen fish and meat products comprising hot pot meatballs, fish balls, meatballs, lucky bags, and fish tofu; quick-frozen rice and noodle products consisting of egg yolk steamed buns and lava buns; quick-frozen dishes, including abalone, hairtail, squid skewers, and grilled cheese rolls; and room temperature snacks, such as crab sticks, fish tofu, and instant oden. It also provides food products comprising mini shrimp dumplings with sauce, crab sticks with soy sauce, stir-fried fish skin tofu with soy sauce, curry crispy balls, spicy mixed hot pot, cold cucumber and crab meat salad, mini shrimp dumplings, stir-fried fish skin tofu, black bean and chili skewers, golden potato cheese treasure, French sakura shrimp chips, wasabi shrimp with fish cookies, lobster ball fried rice, seafood cheese eggs, fish and mixed soup, assorted longevity noodles with lucky bags, selected pizza, cod and tofu stew, colorful hot pot styles, stone-fired gold fresh pot jie jie, dry pot thousand-layer tofu, and twice-cooked pork stir-fried with layered tofu. The company sells its products under the Haixin brand through distribution, modern, e-commerce, and special channels. The company was formerly known as Fujian Tengxin Foods Co., Ltd. and changed its name to HaiXin Foods Co.,Ltd in July 2013. HaiXin Foods Co.,Ltd was founded in 1903 and is headquartered in Fuzhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

HaiXin Foods Co reported revenue of ¥1.5B in FY2025 versus ¥1.6B in FY2021, a compound −0.5%/yr. Reported net income was −¥48.6M in FY2025.

Growth Quality 2/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.5B CNY
Latest YoY
−10.8%
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.
−2.1%
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.
−1.1%
Avg. growth/yr (18Y) 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.
+12.9%
Revenue −0.5%/yr
FY21 ¥1.6B
FY22 ¥1.6B
FY23 ¥1.7B
FY24 ¥1.7B
FY25 ¥1.5B
Net income
FY21 −¥34.4M
FY22 ¥63.2M
FY23 ¥2.3M
FY24 −¥36.9M
FY25 −¥48.6M
Character of growth · EPS growth decomposed (2013-2024) +2.3 % p.a.
Revenue per share +8.1 pp

of which total revenue +8.4 pp · buybacks/dilution −0.3 pp

EBIT margin −4.1 pp
Tax rate −1.4 pp
Residual (interest, one-offs) −0.3 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

002702 screens 82% overvalued. Compare with Nestlé India Limited →

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Cite: Fair Value Calculator (2026). "HaiXin Foods Co Fair Value". https://www.fairvalue-calculator.com/stock/002702

Peer Group

Packaged Foods · 649 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 39 · Bottom 25%
Fair Value upside −82% · Bottom 25%
Return on assets -0% · Bottom 25%
Net margin (TTM) -2% · Bottom 25%
Operating margin (TTM) 5% · Below median
Revenue growth 44% · Top 25%
Debt / equity 0.14× · Higher than median

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/B 0.40× · Cheaper than 75% of peers
P/S (TTM) 0.25× · Cheaper than 75% of peers
EV/EBITDA 7.7× · Cheaper 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 0 · sector 28
FUTURE 100 · sector 20
PAST 0 · sector 27
HEALTH 93 · sector 96
DIVIDEND 0 · sector 47

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 Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Jul 24, 2026).

Stock Price Fair Value vs Fair Value
Nestlé India Limited NESTLEIND ₹1,427 ₹362.37 -75%
Britannia Industries Limited BRITANNIA ₹5,413 ₹1,870 -65%
Tata Consumer Products Limited TATACONSUM ₹1,089 ₹327.27 -70%
PT Indofood CBP Sukses Makmur Tbk ICBP 6,650 IDR 15,757 IDR +137%
Samyang Foods Co 003230 1,139,000 KRW 1,010,543 KRW -11%
Patanjali Foods Limited PATANJALI ₹413.80 ₹157.04 -62%
Vietnam Dairy Products Joint Stock Company VNM 58,500 VND 68,259 VND +17%
PT Mayora Indah Tbk, MYOR 1,750 IDR 2,699 IDR +54%
PT Cisarua Mountain Dairy Tbk CMRY 4,490 IDR 4,355 IDR -3%
Nongshim Co 004370 348,500 KRW 530,619 KRW +52%

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Frequently asked questions

Is HaiXin Foods Co (002702) overvalued or undervalued?
As of Jul 24, 2026, our model estimates a fair value of ¥0.9000 versus a price of ¥4.93, about −82% (overvalued).
What is the fair value of 002702?
Our model-based fair value for HaiXin Foods Co is ¥0.9000 (as of Jul 24, 2026), built from audited fundamentals. The current price is ¥4.93.
What is the quality score of 002702?
HaiXin Foods Co has a Quality Score of 39/100. 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 HaiXin Foods Co (002702)?
HaiXin Foods Co reported trailing-twelve-month revenue of about 1.7B CNY (latest available figure, as of Jul 24, 2026).
What is the net profit margin of 002702?
The net profit margin of HaiXin Foods Co is about -2.3%, 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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