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CRCC High-Tech Equip Corp (1786) Fair Value & Analysis

Industrials · HK · Market cap HK$1.1B (≈ $136M) · ISIN CNE1000023F1

What is CRCC High-Tech Equip Corp really worth?

CH CRCC High-Tech Equip Corp 1786 · HK
PriceHK$0.7200
Fair ValueHK$2.32
Upside+222.2%
Quality54/100

A solid business, trading 69% below our fair value of HK$2.32.

As of Aug 29, 2026, the fair value of CRCC High-Tech Equip Corp is HK$2.32 per share against a price of HK$0.7200, so the fair value sits 222% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

✓generates free cash flow
✓Ranks above peers (7/11)

Risks

!Expensive Growth (revenue 5y +17.1 %/yr)
!Thin margins · 4.2% net margin
!Narrow moat 23/100
!Evidence only low, so the estimate is less certain
!Weak on past: 9 out of 100

For context

·4.03% dividend yield
Evidence: Low Range HK$1.74 – HK$2.90

Fair value as of: Aug 29, 2026

From 26 valuation models · updated 8 days ago

Fair value updated Aug 29, 2026, revised from HK$2.31 to HK$2.32 (+0.4%) since Aug 13, 2026. Share price −1.4% over the past month.

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

What matters now

  • The price is below even our cautious bear case (HK$1.74). The market is more pessimistic than our downside scenario.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality.

Price vs Fair Value (5 years)

HK$1.03 HK$0.5144 Fair Value HK$2.32 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.

How to read this chart

60‑month range HK$0.5144 – HK$1.03 · fair‑value band HK$1.74 – HK$2.90 · the HK$0.7200 price screens below the HK$2.32 fair value. Dashed = 300-day average. As of Aug 29, 2026.

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Analysis

CRCC High-Tech Equip Corp (1786) currently trades at HK$0.7200, while our model-based Fair Value estimate is HK$2.32, implying the stock looks roughly 69.0% undervalued today. The Quality Score stands at 54/100 (solid quality), in the Industrials sector. Bull case: the Asset-Based group reads highest at a median of HK$2.72 per share, and 22 of the 26 models we run sit above the HK$0.7200 price. Bear case: the Dividend Discount group reads lowest at HK$0.3300, and 4 of the 26 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, CRCC High-Tech Equip Corp generated revenue of HK$3.4B at a net margin of 4.2%. Revenue grew 22.0% year over year. It earns a return on equity of 2.4%. The balance sheet holds a net cash position of HK$890M. Fundamentals as of Aug 29, 2026

Our scenario range runs from HK$1.74 (bear case) to HK$2.90 (bull case); at HK$0.7200, 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 31% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −47% fair-value upside, at 222%, 1786 screens cheaper 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 HK$0.0075 per share. 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
FCF DCF best evidence HK$1.28 HK$1.39 HK$1.55 80
Growth DCF HK$1.28 HK$1.38 HK$1.50 77
Residual Income HK$2.71 HK$2.53 HK$1.87 76
All 26 models by family
DCF Models
FCF DCF best evidence HK$1.28 HK$1.39 HK$1.55 80
Owner Earnings HK$2.65 HK$3.37 HK$4.34 75
5Y Revenue Exit HK$1.64 HK$2.09 HK$2.68 71
5Y EBITDA Exit HK$2.08 HK$2.93 HK$3.93 73
5Y P/E Exit HK$1.92 HK$2.62 HK$3.36 69
10Y Revenue Exit HK$1.46 HK$1.82 HK$2.31 66
10Y EBITDA Exit HK$1.74 HK$2.35 HK$3.17 67
10Y P/E Exit HK$1.65 HK$2.15 HK$2.78 63
Earnings-Based
Graham-Dodd HK$0.6400 HK$2.01 HK$2.68 64
Lynch FV HK$0.4400 HK$0.6300 HK$0.8200 61
PEG = 1.0 HK$0.4400 HK$0.6300 HK$0.8200 57
EPV HK$1.73 HK$1.83 HK$1.91 70
Dividend Discount
Gordon GGM HK$0.2100 HK$0.3800 HK$0.5300 67
DDM Multi-Stage HK$0.2100 HK$0.3300 HK$0.4100 67
Multiples
P/E Multiple HK$1.49 HK$1.99 HK$2.49 63
P/S Multiple HK$1.21 HK$1.61 HK$2.01 58
P/B Multiple HK$1.21 HK$1.61 HK$2.01 55
EV/EBIT HK$2.28 HK$2.70 HK$3.12 63
EV/EBITDA HK$2.83 HK$3.43 HK$4.03 64
EV/Revenue HK$1.92 HK$2.30 HK$2.69 52
Asset-Based
NCAV (Graham) HK$2.03 HK$2.72 HK$4.06 51
Growth DCF
Growth DCF HK$1.28 HK$1.38 HK$1.50 77
Rev-Margin DCF HK$1.64 HK$2.08 HK$2.59 71
Economic Profit
Residual Income HK$2.71 HK$2.53 HK$1.87 76
ROIC Compounder HK$1.73 HK$1.83 HK$1.91 70
Growth Earnings
Growth-Adj P/E HK$1.24 HK$1.76 HK$2.29 67

Widest divergence: Asset-Based (HK$2.72) versus Dividend Discount (HK$0.3300). Highest evidence: FCF DCF (80).

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Key figures & financial health

P/E ratio 7.0 as of Jul 2, 2026
P/S ratio 0.29 P/E × margin
EPS (TTM) HK$0.0400 price ÷ EPS = P/E 7.0
Dividend yield 4.0% payout 72.5%
Net margin 4.2% FY2025
Return on equity 2.4% TTM
More key figures
Profitability
Return on assets (EBIT) 1.4% avg 5y
Operating margin 4.2% TTM
Growth
Revenue (TTM) HK$3.4B TTM
Revenue growth (YoY) +22.0% 3y avg +6.8%
EPS growth (YoY) +15.4%
Balance sheet & cash flow
Free cash flow HK$41.2M FY2025
Net cash HK$890M FY2025

Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 54/100

Of which business quality 53 · Market factors (momentum, volatility) 35

Profitability 21
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 27
Earnings quality: real cash, not paper profit
Fin. Strength 73
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 90
Calm price path (market factor)
Momentum 17
Price trend over the last 3–12 months (market factor)
52W Momentum 4
Distance to the 52-week high (market factor)
Net Issuance 82
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

CRCC High-Tech Equipment Corporation Limited, together with its subsidiaries, engages in the research, development, manufacture, and sale of large railway track maintenance machines in Mainland China and internationally.

Full company description

CRCC High-Tech Equipment Corporation Limited, together with its subsidiaries, engages in the research, development, manufacture, and sale of large railway track maintenance machines in Mainland China and internationally. The company offers ballast maintenance and cleaning, rail profiling, comprehensive inspection, overhead catenary system, slab track maintenance, line overhaul, OCS maintenance, measuring, small track maintenance, and rail welding and track component replacement products. It is also involved in the manufacture, purchase, and sale of various types of parts and components, including bogies, electrical control systems, working devices, wheelsets, transmissions, pumps, valves, motors, and drive shafts; and overhaul services for large railway track maintenance machinery, such as repair, upgrade, and remanufacture. In addition, the company provides railway line maintenance services to newly built and existing railway lines. The company was formerly known as Kunming China Railway Large Maintenance Machinery Group Co., Ltd. and changed its name to CRCC High-Tech Equipment Corporation Limited in June 2015. The company was founded in 1954 and is headquartered in Kunming, China. CRCC High-Tech Equipment Corporation Limited is a subsidiary of China Railway Construction Corporation Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

CRCC High-Tech Equip Corp reported revenue of 3.4B CNY in FY2025 versus 2.2B CNY in FY2021, a compound +12.0%/yr. Reported net income was 144M CNY in FY2025, compounding +30.0%/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)
HK$3.4B
Latest YoY
+10.2%
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.
+6.8%
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.
+17.1%
Avg. revenue growth/yr (13Y) ⓘ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.
+1.4%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+27.4% · in HKD
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+23.4%
Dividend yield4.0%
Trend ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y 23.4% vs 10Y −12.5%, picking up
Operating margin (EBIT) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.0.7% (2020) → 4.4% (2025) · rising
Worst earnings drop92% (2017) · in HKD
⚠ Revenue per share shrinking 6.3%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Revenue +12.0%/yr
FY21 2.2B CNY
FY22 2.8B CNY
FY23 3.1B CNY
FY24 3.1B CNY
FY25 3.4B CNY
Net income +30.0%/yr
FY21 50.4M CNY
FY22 116M CNY
FY23 145M CNY
FY24 128M CNY
FY25 144M CNY
Character of growth · EPS growth decomposed (2014-2025) −14.2 % p.a.
Revenue per share −4.3 %

of which total revenue −1.5 % · buybacks/dilution −2.8 %

EBIT margin −12.1 %
Tax rate +1.4 %
Residual (interest, one-offs) +0.5 %

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).

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Cite: Fair Value Calculator (2026). "CRCC High-Tech Equip Corp Fair Value". https://www.fairvalue-calculator.com/stock/1786.HK

Peer Group

Railroads · 111 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 54 · Above median
Return on equity (TTM) 2% · Bottom 25%
Return on assets 1% · Bottom 25%
Net margin (TTM) 4% · Below median
Operating margin (TTM) 4% · Below median
Revenue growth 22% · Top 25%
Dividend yield (TTM) 4.0% · Above median

Valuation Multiples vs Railroads median · lower = cheaper

P/E (TTM) 7.0× · Cheaper than 75% of peers
P/B 0.17× · Cheaper than 75% of peers
P/S (TTM) 0.31× · Cheaper than 75% of peers
P/FCF 3.3× · Cheaper than median

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 20
FUTURE100 · sector 20
PAST9 · sector 29
HEALTH0 · sector 91
DIVIDEND81 · sector 45

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 Railroads stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).

Stock Price Fair Value vs Fair Value
Union Pacific Corporation UNP $307.41 $141.29 −54%
CSX Corporation CSX $48.99 $12.62 −74%
Canadian Pacific Kansas City Limited CP $94.12 $34.33 −64%
Canadian National Railway Company CNR C$175.06 C$92.68 −47%
Norfolk Southern Corporation NSC $332.96 $114.36 −66%
Westinghouse Air Brake Technologies Corporation WAB $297.57 $144.80 −51%
Beijing-Shanghai High-Speed Railway Co 601816 ¥4.87 ¥5.65 +16%
MTR Corporation 0066 HK$32.04 HK$17.85 −44%
CRRC Corporation 601766 ¥5.98 ¥9.53 +59%
Daqin Railway Co 601006 ¥4.72 ¥6.22 +32%

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Frequently asked questions

Is CRCC High-Tech Equip Corp (1786) overvalued or undervalued?
As of Aug 29, 2026, our model estimates a fair value of HK$2.32 versus a price of HK$0.7200, about +222% upside (undervalued).
What is the fair value of 1786?
Our model-based fair value for CRCC High-Tech Equip Corp is HK$2.32 (as of Aug 29, 2026), built from audited fundamentals. The current price: HK$0.7200.
What is the quality score of 1786?
CRCC High-Tech Equip Corp has a Quality Score of 54/100. 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 price target for CRCC High-Tech Equip Corp (1786)?
Our model-based price target is the fair value of HK$2.32 (as of Aug 29, 2026) from 26 valuation models. Cautious scenario HK$1.74, optimistic scenario HK$2.90. It is a calculation from audited fundamentals, not an analyst target.
What is the CRCC High-Tech Equip Corp stock forecast for 2026?
Our models put fair value at HK$2.32, about +222% upside versus a price of HK$0.7200 (undervalued). Cautious scenario HK$1.74, optimistic scenario HK$2.90. The calculation is refreshed regularly with new filings.
What is the revenue of CRCC High-Tech Equip Corp (1786)?
CRCC High-Tech Equip Corp reported trailing-twelve-month revenue of about HK$3.4B (latest available figure, as of Aug 29, 2026).
What is the net profit margin of 1786?
The net profit margin of CRCC High-Tech Equip Corp is about 4.2%, meaning it keeps roughly 4.2% of revenue as net income. Based on the latest reported figures.
Does CRCC High-Tech Equip Corp pay a dividend?
CRCC High-Tech Equip Corp currently shows a dividend yield of about 4.03% relative to its recent price (as of Aug 29, 2026).
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