Changmao Biochemical Engineering Company (0954) Fair Value & Analysis
Basic Materials · HK · Market cap HK$154M
Fair value as of: Aug 13, 2026
From 10 valuation models · updated 2 days ago
Fair value updated Aug 13, 2026, revised from HK$0.2500 to HK$0.3936 (+57.4%) since Aug 5, 2026. Share price −10.5% over the past month.
Below-average quality, screening 60% undervalued on our models.
What matters now
- The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain.
- The price is below even our cautious bear case (HK$0.2991). The market is more pessimistic than our downside scenario.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range HK$0.2460 – HK$1.04 · fair‑value band HK$0.2991 – HK$0.4881 · the HK$0.2460 price screens below the HK$0.3936 fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Changmao Biochemical Engineering Company (0954) currently trades at HK$0.2460, while our model-based Fair Value estimate is HK$0.3936, implying the stock looks roughly 60.0% undervalued today. The Quality Score stands at 44/100 (below-average quality), in the Basic Materials 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: medium), always confirm before acting.
Over the trailing twelve months, Changmao Biochemical Engineering Company generated revenue of HK$557M at a net margin of -12.0%. Revenue grew 5.0% year over year. It earns a return on equity of -12.2%. Net debt stands at HK$471M. Fundamentals as of Aug 13, 2026
Our scenario range runs from HK$0.2991 (bear case) to HK$0.4881 (bull case); at HK$0.2460, the current price sits below 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 32% below its 52-week high, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -68% fair-value upside, at 60%, 0954 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.
All 10 models by family
Widest divergence: Asset-Based (HK$0.6500) versus Multiples (HK$0.0800). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 43 · Market factors (momentum, volatility) 30
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
Changmao Biochemical Engineering Company Limited, together with its subsidiaries, produces and sells organic acids for food additive, chemical, and pharmaceutical industries in Mainland China, Europe, the Asia Pacific, the United States, and internationally.
Full company description
Changmao Biochemical Engineering Company Limited, together with its subsidiaries, produces and sells organic acids for food additive, chemical, and pharmaceutical industries in Mainland China, Europe, the Asia Pacific, the United States, and internationally. The company offers maleic anhydride, fumaric acid, maleic acid, L-malic acid, D-malic acid, DL-malic acid, L (+)-tartaric acid, D(-)-tartaric acid, DL-tartaric acid, L-aspartic acid, and aspartame that are used as food additives, medical intermediaries, pharmaceutical adjuvant, active pharmaceutical ingredients, etc. It is also involved in the research and development of medicine and nutraceutical products; manufacture, sale, and trading of organic acid products; general trading; and property holding activities. Changmao Biochemical Engineering Company Limited was founded in 1992 and is headquartered in Changzhou, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Changmao Biochemical Engineering Company reported revenue of HK$557M in FY2025 versus HK$548M in FY2021, a compound +0.4%/yr. Reported net income was −HK$66.8M in FY2025.
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Peer Group
Specialty Chemicals · 672 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 Specialty Chemicals 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.
Similar stocks
10 more Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Linde plc LIN | $479.43 | $222.03 | -54% |
| Wanhua Chemical Group 600309 | ¥75.06 | ¥68.03 | -9% |
| Novozymes A/S NSISB | kr 416.10 | kr 170.02 | -59% |
| Asian Paints Limited ASIANPAINT | ₹2,756 | ₹664.51 | -76% |
| Solar Industries India Limited SOLARINDS | ₹18,730 | ₹2,793 | -85% |
| Pidilite Industries Limited PIDILITIND | ₹1,702 | ₹351.84 | -79% |
| PT Chandra Asri Pacific Tbk TPIA | 2,160 IDR | 2,322 IDR | +8% |
| Berger Paints India Limited BERGEPAINT | ₹559.80 | ₹154.46 | -72% |
| Gujarat Fluorochemicals Limited FLUOROCHEM | ₹4,566 | ₹836.47 | -82% |
| Himadri Speciality Chemical Limited HSCL | ₹778.15 | ₹248.63 | -68% |
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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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