ShenZhen Properties & Resources Development (Group) Ltd (200011) Fair Value & Analysis

Real Estate · CN · Market cap HK$1.5B

Below-average quality, and screening another 38% overvalued on our models.

What matters now

• Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts.
• The model range is unusually wide (HK$0.8400 to HK$3.27). The outcome hinges heavily on assumptions, so read the point estimate with caution.
• As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 7, 2026.

How to read this chart

60‑month range HK$2.27 – HK$5.23 · fair‑value band HK$0.8400 – HK$3.27 · the HK$2.48 price screens above the HK$1.53 fair value. Dashed = 300-day average. As of Jul 7, 2026.

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Analysis

ShenZhen Properties & Resources Development (Group) Ltd (200011) currently trades at HK$2.48, while our model-based Fair Value estimate is HK$1.53, implying the stock looks roughly 38.3% overvalued today. The Quality Score stands at 41/100 (below-average quality), in the Real Estate 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: medium).

Over the trailing twelve months, ShenZhen Properties & Resources Development (Group) Ltd generated revenue of HK$2.4B at a net margin of 0.1%. Revenue grew 12.7% year over year. It earns a return on equity of -0.9%. Net debt stands at HK$2.6B. Fundamentals as of Jul 7, 2026

Our scenario range runs from HK$0.8400 (bear case) to HK$3.27 (bull case); at HK$2.48, 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 32% below its 52-week high, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at -38%, 200011 screens richer 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: Asset-Based (HK$3.82) versus Multiples (HK$1.50). Highest evidence: Residual Income (76).

Key figures & financial health

Quality Score breakdown

About the company

ShenZhen Properties & Resources Development (Group) Ltd. develops real estate properties in the People's Republic of China. It operates through Real Estate Business; Property Management; and Asset operation segments.

Full company description

ShenZhen Properties & Resources Development (Group) Ltd. develops real estate properties in the People's Republic of China. It operates through Real Estate Business; Property Management; and Asset operation segments. The company is involved in the development and sale of commercial and residential housing; leasing of real estate properties; development of residential, high-end apartments, office buildings, industrial parks, and has brand projects; management and construction of buildings; equipment maintenance for buildings, landscaping and gardening, and cleaning services; engineering supervision; and retail of Chinese cuisine, Western cuisine, and alcoholic beverages. It also offers Software and information technology services; Catering services; and Engineering supervision services; domestic trading and materials supply; and marketing, catering, project supervision, and other services. The company was founded in 1982 and is headquartered in Shenzhen, China. Shenzhen Properties & Resources Development (Group) Ltd. is a subsidiary of Shenzhen Investment Holdings Co., Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ShenZhen Properties & Resources Development (Group) Ltd reported revenue of HK$2.4B in FY2025 versus HK$4.5B in FY2021, a compound −14.7%/yr. Reported net income was HK$33.9M in FY2025, compounding −57.1%/yr from FY2021.

200011 screens 38% overvalued. Compare with DLF Limited →

Peer Group

Real Estate - Development · 588 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 Real Estate - Development 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.

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.

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.