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Lisheng Sports (Shanghai) Co (002858) Fair Value & Analysis

Communication Services · CN · Market cap 2.2B CNY

LS Lisheng Sports (Shanghai) Co 002858 · SHE
Price¥11.91
Fair Value¥3.25
Upside-72.7%
Quality60/100
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Mixed Growth
Loss-making · -1.4% net margin
Low debt · generates free cash flow
Ranks above peers (8/12)
Narrow moat 34/100
Evidence: Medium Range ¥2.55 – ¥3.95 Share as image

Fair value as of: Jul 22, 2026

From 15 valuation models · updated 19 days ago

Fair value updated Jul 22, 2026, revised from ¥4.47 to ¥3.25 (−27.3%) since Jun 25, 2026. Share price +11.0% over the past month.

A solid business, but screening 73% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥3.95). The favourable scenario is already priced in.
  • Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥29.78 ¥9.09 Fair Value ¥3.25 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 ¥9.09 – ¥29.78 · fair‑value band ¥2.55 – ¥3.95 · the ¥11.91 price screens above the ¥3.25 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

Lisheng Sports (Shanghai) Co (002858) currently trades at ¥11.91, while our model-based Fair Value estimate is ¥3.25, implying the stock looks roughly 72.7% overvalued today. The Quality Score stands at 60/100 (solid quality), in the Communication Services 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: medium).

Over the trailing twelve months, Lisheng Sports (Shanghai) Co generated revenue of 494M CNY at a net margin of -1.4%. Revenue declined 3.2% year over year. It earns a return on equity of 3.0%. The balance sheet holds a net cash position of 82.9M CNY. Fundamentals as of Jul 22, 2026

Our scenario range runs from ¥2.55 (bear case) to ¥3.95 (bull case); at ¥11.91, 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 34% below its 52-week high and 3% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at -52% fair-value upside, at -73%, 002858 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
Growth DCF ¥5.30 ¥8.33 ¥13.22 80
Rev-Margin DCF ¥3.54 ¥4.95 ¥6.79 74
ROIC Compounder ¥2.39 ¥2.60 ¥2.79 72
All 15 models by family
DCF Models
FCF DCF ¥5.35 ¥8.71 ¥14.38 38
5Y Revenue Exit ¥3.54 ¥4.94 ¥6.77 39
5Y EBITDA Exit ¥4.35 ¥6.61 ¥9.42 41
10Y Revenue Exit ¥4.08 ¥5.61 ¥7.83 36
10Y EBITDA Exit ¥4.65 ¥6.81 ¥10.01 37
Earnings-Based
EPV ¥2.39 ¥2.60 ¥2.78 59
Dividend Discount
Gordon GGM ¥0.2200 ¥0.4300 ¥0.6600 70
DDM Multi-Stage ¥0.2200 ¥0.3700 ¥0.4600 61
Multiples
EV/EBIT ¥3.17 ¥3.87 ¥4.57 53
EV/EBITDA ¥4.08 ¥5.09 ¥6.10 54
EV/Revenue ¥2.66 ¥3.35 ¥4.03 43
Asset-Based
NCAV (Graham) ¥1.39 ¥1.86 ¥2.77 50
Growth DCF
Growth DCF ¥5.30 ¥8.33 ¥13.22 80
Rev-Margin DCF ¥3.54 ¥4.95 ¥6.79 74
Economic Profit
ROIC Compounder ¥2.39 ¥2.60 ¥2.79 72

Widest divergence: DCF Models (¥6.61) versus Dividend Discount (¥0.3700). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 494M CNY
Revenue growth (YoY) -3.2%
Net margin -1.4%
Return on equity 3.0%
Free cash flow 64.9M CNY FY2025
Operating margin 16.3%
More key figures
EPS (TTM) ¥-0.0400
EPS growth (YoY) -6.5%
Net cash 82.9M CNY FY2024

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

Quality Score breakdown

Overall quality 60/100

Of which business quality 59 · Market factors (momentum, volatility) 29

Profitability 16
Margins and returns on capital today
Quality Growth 66
Are margins and returns improving?
Cashflow 60
Earnings quality: real cash, not paper profit
Fin. Strength 73
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 11
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 68
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

Lisheng Sports (Shanghai) Co.,Ltd operates as an automotive sports operator in China. The company engages in the racing venue operation; event and club operation; provision of technology R&D and training; and other businesses. It is also involved in the manufacture and sale of sports equipment; and digital sports business.

Full company description

Lisheng Sports (Shanghai) Co.,Ltd operates as an automotive sports operator in China. The company engages in the racing venue operation; event and club operation; provision of technology R&D and training; and other businesses. It is also involved in the manufacture and sale of sports equipment; and digital sports business. The company was founded in 2002 and is headquartered in Shanghai, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Lisheng Sports (Shanghai) Co reported revenue of ¥497M in FY2025 versus ¥281M in FY2021, a compound +15.3%/yr. Reported net income was −¥6.6M in FY2025.

Growth Quality 67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
497M CNY
Latest YoY
+12.8%
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.
+24.4%
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.
+20.0%
Avg. growth/yr (14Y) 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.
+10.4%
Revenue +15.3%/yr
FY21 ¥281M
FY22 ¥258M
FY23 ¥405M
FY24 ¥441M
FY25 ¥497M
Net income
FY21 ¥3.2M
FY22 −¥77.5M
FY23 −¥193M
FY24 −¥38.9M
FY25 −¥6.6M

002858 screens 73% overvalued. Compare with Netflix, Inc →

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Cite: Fair Value Calculator (2026). "Lisheng Sports (Shanghai) Co Fair Value". https://www.fairvalue-calculator.com/stock/002858

Peer Group

Entertainment · 265 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 60 · Top 25%
Fair Value upside −73% · Bottom 25%
Return on equity (TTM) 3% · Above median
Return on assets 2% · Above median
Net margin (TTM) -1% · Below median
Operating margin (TTM) 16% · Top 25%
Revenue growth -3% · Below median
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Entertainment median · lower = cheaper

P/B 0.64× · Cheaper than median
P/S (TTM) 0.67× · Cheaper than median
P/FCF 5.1× · Pricier than median
EV/EBITDA 3.1× · 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 0 · sector 6
FUTURE 0 · sector 10
PAST 12 · sector 0
HEALTH 98 · sector 97
DIVIDEND 0 · sector 44

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

Stock Price Fair Value vs Fair Value
Netflix, Inc ZNFL C$6.77 C$2.96 -56%
The Walt Disney Company DIS $96.30 $89.55 -7%
Warner Bros. Discovery, Inc WBD $26.87 $9.13 -66%
Live Nation Entertainment, Inc LYV $178.44 $46.89 -74%
Universal Music Group UMG €18.91 €14.78 -22%
TKO Group TKO $184.40 $22.16 -88%
Empresas Cablevisión, S.A. CABLECPO 55.00 MXN 60.49 MXN +10%
Beijing Enlight Media Co 300251 ¥11.77 ¥10.97 -7%
PT MNC Digital Entertainment Tbk, MSIN 456.00 IDR 221.09 IDR -52%
Prime Focus Limited PFOCUS ₹298.25 ₹63.45 -79%

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Frequently asked questions

Is Lisheng Sports (Shanghai) Co (002858) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of ¥3.25 versus a price of ¥11.91, about −73% (overvalued).
What is the fair value of 002858?
Our model-based fair value for Lisheng Sports (Shanghai) Co is ¥3.25 (as of Jul 22, 2026), built from audited fundamentals. The current price is ¥11.91.
What is the quality score of 002858?
Lisheng Sports (Shanghai) Co has a Quality Score of 60/100. 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 Lisheng Sports (Shanghai) Co (002858)?
Lisheng Sports (Shanghai) Co reported trailing-twelve-month revenue of about 494M CNY (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 002858?
The net profit margin of Lisheng Sports (Shanghai) Co is about -1.4%, 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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