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Hunan Keli Motor Co Ltd (002892) Fair Value & Analysis

Industrials · CN · Market cap 7.8B CNY (≈ $1.2B) · ISIN CNE1000032M8

What is Hunan Keli Motor Co Ltd really worth?

HK Hunan Keli Motor Co Ltd 002892 · SHE
Price¥9.03
Fair Value¥0.7905
Upside−91.3%
Quality33/100

Structural break: The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.

Below-average quality, and trading another 1,043% above our fair value of ¥0.7905.

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Risks

!Expensive Growth (revenue 5y +13.0 %/yr)
!Thin margins · 1.0% net margin
!Low debt · negative free cash flow
!Trails peers (0/12)
!Narrow moat 15/100
!Evidence only low, so the estimate is less certain
!Weak on past: 4 out of 100
!Weak on dividend: 5 out of 100

For context

·0.24% dividend yield
Evidence: Low Range ¥0.5780 – ¥0.9945

Fair value as of: Aug 28, 2026

From 16 valuation models · updated 8 days ago

Share price −8.7% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (¥0.9945). The favourable scenario is already priced in.
  • Weak quality (33/100) 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.

Price vs Fair Value (5 years)

¥16.93 ¥3.83 Fair Value ¥0.7905 Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 28, 2026.

How to read this chart

60‑month range ¥3.83 – ¥16.93 · fair‑value band ¥0.5780 – ¥0.9945 · the ¥9.03 price screens above the ¥0.7905 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 28, 2026.

Full chart & analysis →

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Analysis

Hunan Keli Motor Co Ltd (002892) currently trades at ¥9.03, while our model-based Fair Value estimate is ¥0.7905, implying the stock looks roughly 1,042.9% overvalued today. The Quality Score stands at 33/100 (below-average quality), in the Industrials sector. Bull case: the Asset-Based group reads highest at a median of ¥1.15 per share, and 0 of the 16 models we run sit above the ¥9.03 price. Bear case: the Economic Profit group reads lowest at ¥0.4300, and 16 of the 16 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Hunan Keli Motor Co Ltd generated revenue of 1.9B CNY at a net margin of 1.0%. Revenue grew 8.1% year over year. It earns a return on equity of 1.1%. Net debt stands at 221M CNY. Fundamentals as of Aug 28, 2026

Our scenario range runs from ¥0.5780 (bear case) to ¥0.9945 (bull case); at ¥9.03, 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 49% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −44% fair-value upside, at −91%, 002892 screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly ¥0.0054 per share, which is 0.7 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
Residual Income best evidence ¥1.22 ¥1.19 ¥0.9700 76
EPV ¥0.3300 ¥0.4300 ¥0.5100 74
ROIC Compounder ¥0.3300 ¥0.4300 ¥0.5100 72
All 16 models by family
Earnings-Based
Graham-Dodd ¥0.3000 ¥1.70 ¥2.37 63
Lynch FV ¥0.4800 ¥0.6800 ¥0.8900 61
PEG = 1.0 ¥0.4800 ¥0.6800 ¥0.8900 57
EPV ¥0.3300 ¥0.4300 ¥0.5100 74
Dividend Discount
Gordon GGM ¥0.5300 ¥1.06 ¥1.60 67
DDM Multi-Stage ¥0.5300 ¥0.9100 ¥1.12 67
Multiples
P/E Multiple ¥0.7000 ¥0.9300 ¥1.17 63
P/S Multiple ¥0.5700 ¥0.7600 ¥0.9500 58
P/B Multiple ¥0.5700 ¥0.7600 ¥0.9500 55
EV/EBIT ¥0.6800 ¥1.00 ¥1.33 65
EV/EBITDA ¥1.27 ¥1.79 ¥2.31 67
EV/Revenue ¥0.4000 ¥0.7000 ¥1.00 52
Asset-Based
NCAV (Graham) ¥0.8600 ¥1.15 ¥1.72 54
Economic Profit
Residual Income best evidence ¥1.22 ¥1.19 ¥0.9700 76
ROIC Compounder ¥0.3300 ¥0.4300 ¥0.5100 72
Growth Earnings
Growth-Adj P/E ¥0.7100 ¥1.02 ¥1.33 67

Widest divergence: Asset-Based (¥1.15) versus Economic Profit (¥0.4300). Highest evidence: Residual Income (76).

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Key figures & financial health

P/E ratio 301.0
P/S ratio 5.46 P/E × margin
EPS (TTM) ¥0.0300 price ÷ EPS = P/E 301.0
Dividend yield 0.2% payout 73.3%
Net margin 1.8% FY2025
Return on equity 1.1% TTM
More key figures
Profitability
Return on assets (EBIT) 3.7% avg 5y
Operating margin 0.0% TTM
Growth
Revenue (TTM) 1.9B CNY TTM
Revenue growth (YoY) +8.1% 3y avg +15.6%
EPS growth (YoY) −65.8%
Balance sheet & cash flow
Free cash flow −326M CNY FY2025
Net debt 221M CNY FY2025

Figures from reported company fundamentals · as of Aug 28, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 33/100

Of which business quality 38 · Market factors (momentum, volatility) 22

Profitability 28
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 28
Earnings quality: real cash, not paper profit
Fin. Strength 65
Balance sheet, leverage, solvency risk
Investment 44
Disciplined investing over empire-building
Low Volatility 65
Calm price path (market factor)
Momentum 6
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 9
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Keli Motor Group Co., Ltd. engages in the research and development, manufacture, and sale of micro motors in China. The company offers servo systems, including servo motors and drives; shaded pole motors; tangential blowers; universal motors; stepper motors; brushless direct current motors; and pump motors.

Full company description

Keli Motor Group Co., Ltd. engages in the research and development, manufacture, and sale of micro motors in China. The company offers servo systems, including servo motors and drives; shaded pole motors; tangential blowers; universal motors; stepper motors; brushless direct current motors; and pump motors. Its products are used in 5G base station, robot, intelligent appliances, medical and health care, industrial automation and internet of things, 3D printer, commercial office, stage lighting, security monitoring, HVAC refrigeration, new energy sector, and electric tool industries. It also exports its products to the United States, Spain, Germany, Italy, and internationally. Keli Motor Group Co., Ltd. was formerly known as Hunan Keli Motor Co.,Ltd. and changed its name to Keli Motor Group Co., Ltd. in May 2019. Keli Motor Group Co., Ltd. was founded in 1992 and is based in Shenzhen, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Hunan Keli Motor Co Ltd reported revenue of 1.8B CNY in FY2025 versus 1.4B CNY in FY2021, a compound +6.3%/yr. Reported net income was 33.1M CNY in FY2025, compounding −24.6%/yr from FY2021.

Growth Quality 50/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
1.8B CNY
Latest YoY
+10.4%
Avg. revenue 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.
+15.6%
Avg. revenue 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.
+13.0%
Avg. revenue growth/yr (12Y) 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.
+13.8%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year.
−16.9% (−17.1 + 0.2)
Revenue +6.3%/yr
FY21 1.4B CNY
FY22 1.2B CNY
FY23 1.3B CNY
FY24 1.7B CNY
FY25 1.8B CNY
Net income −24.6%/yr
FY21 103M CNY
FY22 73.2M CNY
FY23 51.0M CNY
FY24 60.1M CNY
FY25 33.1M CNY
Character of growth · EPS growth decomposed (2013-2024) −3.5 % p.a.
Revenue per share +7.2 %

of which total revenue +14.0 % · buybacks/dilution −6.0 %

EBIT margin −11.1 %
Tax rate +0.9 %
Residual (interest, one-offs) +0.3 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

002892 screens 1,043% overvalued. Compare with Contemporary Amperex Technology Co →

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Cite: Fair Value Calculator (2026). "Hunan Keli Motor Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/002892

Peer Group

Electrical Equipment & Parts · 543 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 33 · Bottom 25%
Fair Value upside −91% · Bottom 25%
Return on equity (TTM) 1% · Below median
Return on assets 1% · Bottom 25%
Net margin (TTM) 1% · Below median
Operating margin (TTM) 0% · Bottom 25%
Revenue growth 8% · Below median
Dividend yield (TTM) 0.2% · Bottom 25%
Debt / equity 0.40× · Higher than 75% of peers

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

P/E (TTM) 301.0× · Pricier than 75% of peers
P/B 6.12× · Pricier than 75% of peers
P/S (TTM) 4.21× · Pricier than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE41 · sector 56
PAST4 · sector 26
HEALTH80 · sector 97
DIVIDEND5 · sector 23

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

Similar stocks

10 more Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Aug 28, 2026).

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Contemporary Amperex Technology Co 3750 HK$652.50 HK$394.19 −40%
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Delta Electronics (Thailand) Public Company TDED 10.40 SGD 1.47 SGD −86%
Vertiv Holdings VRT $257.08 $63.13 −75%
LG Energy Solution, Ltd 373220 365,500 KRW 201,455 KRW −45%
Prysmian S.p.A PRY €117.10 €84.15 −28%
Legrand SA LR €139.65 €78.82 −44%
Sungrow Power Supply Co 300274 ¥86.40 ¥123.83 +43%
Hubbell Incorporated HUBB $443.31 $285.77 −36%
Shenzhen Inovance Technology Co 300124 ¥61.07 ¥33.04 −46%

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Frequently asked questions

Is Hunan Keli Motor Co Ltd (002892) overvalued or undervalued?
As of Aug 28, 2026, our model estimates a fair value of ¥0.7905 versus a price of ¥9.03, about −91% upside (overvalued).
What is the fair value of 002892?
Our model-based fair value for Hunan Keli Motor Co Ltd is ¥0.7905 (as of Aug 28, 2026), built from audited fundamentals. The current price: ¥9.03.
What is the quality score of 002892?
Hunan Keli Motor Co Ltd has a Quality Score of 33/100. 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 Hunan Keli Motor Co Ltd (002892)?
Hunan Keli Motor Co Ltd reported trailing-twelve-month revenue of about 1.9B CNY (latest available figure, as of Aug 28, 2026).
What is the net profit margin of 002892?
The net profit margin of Hunan Keli Motor Co Ltd is about 1.0%, meaning it keeps roughly 1.0% of revenue as net income. Based on the latest reported figures.
Does Hunan Keli Motor Co Ltd pay a dividend?
Hunan Keli Motor Co Ltd currently shows a dividend yield of about 0.24% relative to its recent price (as of Aug 28, 2026).
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