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Jiangxi Rimag Group (2522) Fair Value & Analysis

Healthcare · HK · Market cap HK$1.8B

JR Jiangxi Rimag Group 2522 · HK
PriceHK$4.66
Fair ValueHK$2.51
Upside-46.1%
Quality43/100
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Healthy Growth
Thin margins · 0.4% net margin
Low debt · generates free cash flow
Trails peers (4/13)
Narrow moat 20/100
Evidence: High Range HK$1.41 – HK$3.45 Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated today

Fair value updated Aug 13, 2026, revised from HK$0.3200 to HK$2.51 (+684.4%) since Jul 7, 2026. Share price −8.9% over the past month.

Below-average quality, and screening another 46% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$3.45). The favourable scenario is already priced in.
  • Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (HK$1.41 to HK$3.45) leaves room in how you read the outcome.
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Price vs Fair Value (2 years)

HK$70.80 HK$4.45 Fair Value HK$2.51 Jun 2024 Aug 2026

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

26‑month range HK$4.45 – HK$70.80 · fair‑value band HK$1.41 – HK$3.45 · the HK$4.66 price screens above the HK$2.51 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Jiangxi Rimag Group (2522) currently trades at HK$4.66, while our model-based Fair Value estimate is HK$2.51, implying the stock looks roughly 46.1% overvalued today. The Quality Score stands at 43/100 (below-average quality), in the Healthcare 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: high).

Over the trailing twelve months, Jiangxi Rimag Group generated revenue of HK$873M at a net margin of 0.4%. Revenue grew 17.1% year over year. It earns a return on equity of -0.6%. The balance sheet holds a net cash position of HK$1.3M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$1.41 (bear case) to HK$3.45 (bull case); at HK$4.66, 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. For context, the median of 10 Healthcare peers we cover trades at -12% fair-value upside, at -46%, 2522 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.

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
Growth DCF HK$2.92 HK$3.74 HK$4.87 80
Rev-Margin DCF HK$2.68 HK$3.50 HK$4.51 74
ROIC Compounder HK$2.29 HK$2.42 HK$2.53 72
All 24 models by family
DCF Models
FCF DCF HK$2.93 HK$3.83 HK$5.12 38
Owner Earnings HK$3.63 HK$4.93 HK$6.78 31
5Y Revenue Exit HK$2.68 HK$3.50 HK$4.57 39
5Y EBITDA Exit HK$5.68 HK$9.39 HK$13.95 41
5Y P/E Exit HK$2.02 HK$2.20 HK$2.37 38
10Y Revenue Exit HK$2.73 HK$3.47 HK$4.52 36
10Y EBITDA Exit HK$4.54 HK$7.32 HK$11.39 37
10Y P/E Exit HK$2.37 HK$2.62 HK$2.92 35
Earnings-Based
Graham-Dodd HK$0.0700 HK$0.2800 HK$0.3800 54
Lynch FV HK$0.0700 HK$0.1000 HK$0.1300 50
PEG = 1.0 HK$0.0700 HK$0.1000 HK$0.1300 46
EPV HK$2.29 HK$2.42 HK$2.53 59
Multiples
P/E Multiple HK$0.1600 HK$0.2100 HK$0.2600 63
P/S Multiple HK$0.1300 HK$0.1800 HK$0.2200 58
P/B Multiple HK$0.1300 HK$0.1800 HK$0.2200 55
EV/EBIT HK$3.19 HK$3.82 HK$4.44 53
EV/EBITDA HK$8.09 HK$10.35 HK$12.61 54
EV/Revenue HK$2.58 HK$3.12 HK$3.66 43
Asset-Based
NCAV (Graham) HK$2.78 HK$3.73 HK$5.56 50
Growth DCF
Growth DCF HK$2.92 HK$3.74 HK$4.87 80
Rev-Margin DCF HK$2.68 HK$3.50 HK$4.51 74
Economic Profit
Residual Income HK$3.48 HK$3.09 HK$1.93 61
ROIC Compounder HK$2.29 HK$2.42 HK$2.53 72
Growth Earnings
Growth-Adj P/E HK$0.1200 HK$0.1700 HK$0.2200 68

Widest divergence: Asset-Based (HK$3.73) versus Earnings-Based (HK$0.1000). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$873M
Revenue growth (YoY) +17.1%
Net margin 0.4%
Return on equity -0.6%
Free cash flow HK$57.7M FY2025
P/E ratio 462.0
More key figures
Operating margin -4.3%
EPS (TTM) HK$0.0500
EPS growth (YoY) +318%
Net cash HK$1.3M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 43/100

Of which business quality 46 · Market factors (momentum, volatility) 15

Profitability 16
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 53
Earnings quality: real cash, not paper profit
Fin. Strength 63
Balance sheet, leverage, solvency risk
Investment 30
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 59
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.

About the company

Jiangxi Rimag Group Co., Ltd., together with its subsidiaries, invests in and operates medical imaging centers in Mainland China, Hong Kong, Macau, and internationally. It operates through Imaging Center Services, Imaging Solution Services, and Digital-Intelligent Services segments.

Full company description

Jiangxi Rimag Group Co., Ltd., together with its subsidiaries, invests in and operates medical imaging centers in Mainland China, Hong Kong, Macau, and internationally. It operates through Imaging Center Services, Imaging Solution Services, and Digital-Intelligent Services segments. The company offers imaging examination and diagnostic imaging services, such as magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET), mammography, ultrasound, diagnostic radiology (X-ray), fluoroscopy, and other related procedures to hospitals and other medical institutions, health management companies, individual patients, and other healthcare customers; medical imaging operational management services; imaging equipment and software solutions; imaging capability improvement services; imaging empowerment solutions, such as equipment selection and configuration, quality control, remote consultation, medical staff training, clinical imaging capability analysis, and repair services. It also provides Rimag Cloud services, including cloud storage and cloud film modules, remote diagnosis and consultation for complex cases, remote hosting services, imaging AI integration platform, refined operation management modules, cloud radiology information system (RIS) modules, and quality control modules; data processing and analysis solutions; and remote and AI diagnosis services. In addition, the company engages in the operation and management of a medical imaging cloud platform that provides diversified imaging services; operation of a research and development center; technical support; sale of medical devices and consumables; clinic services; maintenance and installation of medical equipment; technology development of medical imaging cloud platforms; and medical imaging industry chain services. Jiangxi Rimag Group Co., Ltd. was incorporated in 2014 and is headquartered in Beijing, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jiangxi Rimag Group reported revenue of HK$873M in FY2025 versus HK$592M in FY2021, a compound +10.2%/yr. Reported net income was HK$3.7M in FY2025.

Growth Quality 62/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
HK$873M
Latest YoY
+14.8%
Avg. 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.
+3.6%
Revenue +10.2%/yr
FY21 HK$592M
FY22 HK$784M
FY23 HK$929M
FY24 HK$761M
FY25 HK$873M
Net income
FY21 −HK$361M
FY22 HK$364K
FY23 HK$44.4M
FY24 −HK$45.9M
FY25 HK$3.7M

2522 screens 46% overvalued. Compare with HCA Healthcare, Inc →

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Cite: Fair Value Calculator (2026). "Jiangxi Rimag Group Fair Value". https://www.fairvalue-calculator.com/stock/2522

Peer Group

Medical Care Facilities · 263 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 43 · Bottom 25%
Fair Value upside −46% · Bottom 25%
Return on assets 0% · Bottom 25%
Net margin (TTM) 0% · Below median
Operating margin (TTM) -4% · Bottom 25%
Revenue growth 17% · Top 25%
Debt / equity 0.08× · Lower than median

Valuation Multiples vs Medical Care Facilities median · lower = cheaper

P/E (TTM) 462.0× · Pricier than 75% of peers
P/B 0.92× · Cheaper than median
P/S (TTM) 2.09× · Pricier than 75% of peers
P/FCF 4.0× · Pricier than median
EV/EBITDA 7.3× · Cheaper than median

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 · sector 23
FUTURE 86 · sector 24
PAST 0 · sector 30
HEALTH 96 · sector 90
DIVIDEND 0 · sector 38

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Medical Care Facilities stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
HCA Healthcare, Inc HCA $378.85 $554.93 +46%
Fresenius SE FRE €41.73 €32.15 -23%
Dr. Sulaiman Al Habib Medical Services Group 4013 235.00 SAR 112.37 SAR -52%
IHH Healthcare Berhad, an investment holding company, Q0F 2.58 SGD 1.44 SGD -44%
Tenet Healthcare Corporation THC $194.91 $338.05 +73%
Rede D'Or São Luiz S.A RDOR3 R$36.01 R$47.31 +31%
DaVita Inc DVA $231.61 $255.97 +11%
Apollo Hospitals Enterprise Limited APOLLOHOSP ₹8,955 ₹2,955 -67%
Aier Eye Hospital Group 300015 ¥8.68 ¥7.67 -12%
Max Healthcare Institute Limited MAXHEALTH ₹1,103 ₹284.87 -74%

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Frequently asked questions

Is Jiangxi Rimag Group (2522) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$2.51 versus a price of HK$4.66, about −46% (overvalued).
What is the fair value of 2522?
Our model-based fair value for Jiangxi Rimag Group is HK$2.51 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$4.66.
What is the quality score of 2522?
Jiangxi Rimag Group has a Quality Score of 43/100. 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 Jiangxi Rimag Group (2522)?
Jiangxi Rimag Group reported trailing-twelve-month revenue of about HK$873M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 2522?
The net profit margin of Jiangxi Rimag Group is about 0.4%, meaning it keeps roughly 0.4% of revenue as net income. Based on the latest reported figures.

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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