HUAXI Securities Co (002926) Fair Value & Analysis

Financial Services · CN · Market cap 21.6B CNY

A solid business, screening 15% undervalued on our models.

What matters now

• For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
• Our model range runs from ¥7.14 (bear) to ¥11.90 (bull), base ¥9.52. The closer the price sits to the lower half, the larger the margin of safety.
• Quality 68/100 (solid quality) with high evidence: the data supports the verdict.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 25, 2026.

How to read this chart

60‑month range ¥6.06 – ¥10.77 · fair‑value band ¥7.14 – ¥11.90 · the ¥8.26 price screens below the ¥9.52 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 25, 2026.

Full chart & analysis →

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Analysis

HUAXI Securities Co (002926) currently trades at ¥8.26, while our model-based Fair Value estimate is ¥9.52, implying the stock looks roughly 15.3% undervalued today. The Quality Score stands at 68/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, HUAXI Securities Co generated revenue of 4.7B CNY at a net margin of 33.2%. Revenue grew 7.9% year over year. It earns a return on equity of 6.4%. The balance sheet holds a net cash position of 31.1B CNY. Fundamentals as of Jul 25, 2026

Our scenario range runs from ¥7.14 (bear case) to ¥11.90 (bull case); at ¥8.26, the current price sits within 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 26% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 11% fair-value upside, at 15%, 002926 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.

Widest divergence: Multiples (¥8.02) versus Asset-Based (¥6.32). Highest evidence: P/B Multiple (55).

Key figures & financial health

Quality Score breakdown

About the company

HUAXI Securities Co., Ltd., together with its subsidiaries, engages in the securities business in China. The company operates through five segments: Brokerage and Wealth Management, Investment, Credit, Investment Banking, and Asset Management.

Full company description

HUAXI Securities Co., Ltd., together with its subsidiaries, engages in the securities business in China. The company operates through five segments: Brokerage and Wealth Management, Investment, Credit, Investment Banking, and Asset Management. It is involved in securities and futures brokerage, promotion and agency sales of financial products, and research and consulting services; trading and market-making activities for equity, fixed-income, derivative products, and other financial products; and financing and securities lending, stock-pledged repurchase, and agreed repurchase securities trading businesses. The company also engages in the provision of financial services to institutional clients, including stock underwriting and sponsorship, bond underwriting, mergers and acquisitions financial advisory, and NEEQ recommendation and other related services; and asset management services as a collective, single, special asset management product manager, and private fund manager. In addition, it provides fund and risk management; equity investments in non-publicly traded companies; and entrusted management of equity investment enterprises. The company was founded in 2000 and is headquartered in Chengdu, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

HUAXI Securities Co reported revenue of ¥4.6B in FY2025 versus ¥6.3B in FY2021, a compound −7.5%/yr. Reported net income was ¥1.5B in FY2025, compounding −2.6%/yr from FY2021.

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Peer Group

Capital Markets · 425 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 Capital Markets 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.

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.

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Frequently asked questions

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.