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Hangzhou Star Shuaier Electric Appliance Co (002860) Fair Value & Analysis

Industrials · CN · Market cap 4.8B CNY

HS Hangzhou Star Shuaier Electric Appliance Co 002860 · SHE
Price¥16.58
Fair Value¥9.42
Upside-43.2%
Quality41/100
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Expensive Growth
Thin margins · 8.9% net margin
Low debt · generates free cash flow
0.76% dividend yield
Mixed vs. peers (8/14)
Moderate moat 45/100
Evidence: High Range ¥6.26 – ¥11.83 Share as image

Fair value as of: Jul 22, 2026

From 26 valuation models · updated 19 days ago

Share price −0.1% over the past month.

Below-average quality, and screening another 43% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥11.83). The favourable scenario is already priced in.
  • Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (¥6.26 to ¥11.83) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥19.77 ¥6.86 Fair Value ¥9.42 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 ¥6.86 – ¥19.77 · fair‑value band ¥6.26 – ¥11.83 · the ¥16.58 price screens above the ¥9.42 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

Hangzhou Star Shuaier Electric Appliance Co (002860) currently trades at ¥16.58, while our model-based Fair Value estimate is ¥9.42, implying the stock looks roughly 43.2% overvalued today. The Quality Score stands at 41/100 (below-average quality), in the Industrials 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, Hangzhou Star Shuaier Electric Appliance Co generated revenue of 2.2B CNY at a net margin of 8.9%. Revenue grew 1.1% year over year. It earns a return on equity of 8.4%. Net debt stands at 92.0M CNY. Fundamentals as of Jul 22, 2026

Our scenario range runs from ¥6.26 (bear case) to ¥11.83 (bull case); at ¥16.58, 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 near its 52-week high and 41% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -43%, 002860 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 ¥3.02 ¥4.65 ¥7.86 80
Residual Income ¥5.43 ¥5.86 ¥7.15 76
Rev-Margin DCF ¥6.74 ¥13.68 ¥26.73 74
All 26 models by family
DCF Models
FCF DCF ¥3.15 ¥4.33 ¥8.00 38
Owner Earnings ¥10.11 ¥21.23 ¥43.71 31
5Y Revenue Exit ¥6.74 ¥12.10 ¥23.43 39
5Y EBITDA Exit ¥7.87 ¥14.40 ¥27.25 41
5Y P/E Exit ¥8.18 ¥18.75 ¥33.43 38
10Y Revenue Exit ¥5.46 ¥13.42 ¥19.29 36
10Y EBITDA Exit ¥6.55 ¥15.81 ¥32.73 37
10Y P/E Exit ¥6.77 ¥16.46 ¥33.02 35
Earnings-Based
Graham-Dodd ¥3.85 ¥26.87 ¥37.71 54
Lynch FV ¥9.96 ¥14.22 ¥18.49 50
PEG = 1.0 ¥9.96 ¥14.22 ¥18.49 46
EPV ¥6.81 ¥7.74 ¥8.53 59
Dividend Discount
Gordon GGM ¥0.9600 ¥1.92 ¥2.91 70
DDM Multi-Stage ¥0.9600 ¥1.66 ¥2.03 61
Multiples
P/E Multiple ¥8.92 ¥11.90 ¥14.87 63
P/S Multiple ¥7.22 ¥9.63 ¥12.04 58
P/B Multiple ¥7.22 ¥9.63 ¥12.04 55
EV/EBIT ¥10.08 ¥13.12 ¥16.15 53
EV/EBITDA ¥9.47 ¥12.31 ¥15.15 54
EV/Revenue ¥7.47 ¥10.26 ¥13.05 43
Asset-Based
NCAV (Graham) ¥3.25 ¥4.36 ¥6.51 50
Growth DCF
Growth DCF ¥3.02 ¥4.65 ¥7.86 80
Rev-Margin DCF ¥6.74 ¥13.68 ¥26.73 74
Economic Profit
Residual Income ¥5.43 ¥5.86 ¥7.15 76
ROIC Compounder ¥7.15 ¥9.49 ¥11.64 72
Growth Earnings
Growth-Adj P/E ¥12.77 ¥18.24 ¥23.71 68

Widest divergence: Growth Earnings (¥18.24) versus Dividend Discount (¥1.66). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 2.2B CNY
Revenue growth (YoY) +1.1%
Net margin 8.9%
Return on equity 8.4%
Free cash flow 48.4M CNY FY2025
P/E ratio 25.5
More key figures
Operating margin 12.6%
EPS (TTM) ¥0.5300
Dividend yield 0.8%
EPS growth (YoY) -15.8%
Net debt 92.0M CNY FY2024

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

Quality Score breakdown

Overall quality 41/100

Of which business quality 43 · Market factors (momentum, volatility) 69

Profitability 37
Margins and returns on capital today
Quality Growth 47
Are margins and returns improving?
Cashflow 21
Earnings quality: real cash, not paper profit
Fin. Strength 89
Balance sheet, leverage, solvency risk
Investment 46
Disciplined investing over empire-building
Low Volatility 64
Calm price path (market factor)
Momentum 62
Price trend over the last 3–12 months (market factor)
52W Momentum 85
Distance to the 52-week high (market factor)
Net Issuance 7
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

Hangzhou Star Shuaier Electric Appliance Co., Ltd. engages in the research and development, production, and sale of thermal protectors, starters, sealing terminals in China and internationally. The company offers products for refrigeration compressors, household appliances, small, medium and micro motor products, and solar photovoltaic modules.

Full company description

Hangzhou Star Shuaier Electric Appliance Co., Ltd. engages in the research and development, production, and sale of thermal protectors, starters, sealing terminals in China and internationally. The company offers products for refrigeration compressors, household appliances, small, medium and micro motor products, and solar photovoltaic modules. Hangzhou Star Shuaier Electric Appliance Co., Ltd. was founded in 2002 and is based in Hangzhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Hangzhou Star Shuaier Electric Appliance Co reported revenue of ¥2.2B in FY2025 versus ¥1.4B in FY2021, a compound +12.0%/yr. Reported net income was ¥200M in FY2025, compounding +8.5%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
2.2B CNY
Latest YoY
+3.7%
Avg. growth/yr (3Y)
+3.4%
Avg. growth/yr (5Y)
+18.4%
Avg. growth/yr (13Y)
+22.8%
Revenue +12.0%/yr
FY21 ¥1.4B
FY22 ¥1.9B
FY23 ¥2.9B
FY24 ¥2.1B
FY25 ¥2.2B
Net income +8.5%/yr
FY21 ¥144M
FY22 ¥119M
FY23 ¥202M
FY24 ¥144M
FY25 ¥200M

002860 screens 43% overvalued. Compare with Contemporary Amperex Technology Co →

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Cite: Fair Value Calculator (2026). "Hangzhou Star Shuaier Electric Appliance Co Fair Value". https://www.fairvalue-calculator.com/stock/002860

Peer Group

Electrical Equipment & Parts · 528 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 41 · Bottom 25%
Fair Value upside −43% · Above median
Return on equity (TTM) 8% · Above median
Return on assets 3% · Above median
Net margin (TTM) 9% · Above median
Operating margin (TTM) 13% · Top 25%
Revenue growth 1% · Below median
Dividend yield (TTM) 0.8% · Below median
Debt / equity 0.16× · Higher than median

Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper

P/E (TTM) 25.5× · Cheaper than median
P/B 2.08× · Cheaper than median
P/S (TTM) 2.20× · Pricier than median
P/FCF 14.6× · Pricier than 75% of peers
EV/EBITDA 18.0× · 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 0
FUTURE 6 · sector 57
PAST 34 · sector 26
HEALTH 92 · sector 97
DIVIDEND 15 · sector 18

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 Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
Contemporary Amperex Technology Co 3750 HK$675.50 HK$391.44 -42%
ABB Ltd ABBN CHF 83.82 CHF 35.46 -58%
Delta Electronics (Thailand) Public Company TDED 10.16 SGD 1.47 SGD -86%
LG Energy Solution, Ltd 373220 334,000 KRW 201,455 KRW -40%
WEG S.A WEGE3 13,210 ARS 7,948 ARS -40%
Sungrow Power Supply Co 300274 ¥114.79 ¥123.83 +8%
Shenzhen Inovance Technology Co 300124 ¥63.43 ¥33.04 -48%
HD Hyundai Electric Co 267260 823,000 KRW 371,133 KRW -55%
LS ELECTRIC Co 010120 190,000 KRW 31,517 KRW -83%
Sieyuan Electric Co 002028 ¥151.73 ¥71.69 -53%

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Frequently asked questions

Is Hangzhou Star Shuaier Electric Appliance Co (002860) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of ¥9.42 versus a price of ¥16.58, about −43% (overvalued).
What is the fair value of 002860?
Our model-based fair value for Hangzhou Star Shuaier Electric Appliance Co is ¥9.42 (as of Jul 22, 2026), built from audited fundamentals. The current price is ¥16.58.
What is the quality score of 002860?
Hangzhou Star Shuaier Electric Appliance Co has a Quality Score of 41/100. 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 Hangzhou Star Shuaier Electric Appliance Co (002860)?
Hangzhou Star Shuaier Electric Appliance Co reported trailing-twelve-month revenue of about 2.2B CNY (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 002860?
The net profit margin of Hangzhou Star Shuaier Electric Appliance Co is about 8.9%, meaning it keeps roughly 8.9% of revenue as net income. Based on the latest reported figures.
Does Hangzhou Star Shuaier Electric Appliance Co pay a dividend?
Hangzhou Star Shuaier Electric Appliance Co currently shows a dividend yield of about 0.76% 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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