QingSong Health Corp (2661) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of QingSong Health Corp HK$10.09, price HK$3.99, upside +153.2%, quality 56 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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QingSong Health Corporation provides healthcare-related and insurance-related services in China.
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QingSong Health Corporation provides healthcare-related and insurance-related services in China. The company offers digital marketing through healthcare-related educational articles and videos; digital medical research assistance; integrated health service packages with various self-operated and outsourced services; and promotion and consultancy to support early disease screening. It also provides Insurance Brokerage services; and a suite of technical services including smart operations, smart risk control, and smart monitoring through i-Phoenix enterprise service platform. The company was formerly known as QingSongChou Corporation and changed its name to QingSong Health Corporation in September 2020. The company was incorporated in 2014 and is headquartered in Beijing, The People's Republic of China.
Stock analysis
QingSong Health Corp (2661) currently trades at HK$3.99, while our model-based Fair Value estimate is HK$10.09, implying the stock looks roughly 60.5% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of HK$10.91 per share, and 6 of the 7 models we run sit above the HK$3.99 price.
Bear case: the Asset-Based group reads lowest at HK$3.84, and 1 of the 7 models stay below the price. Evidence for this calculation is low.
Scenario range: HK$6.94 (bear) to HK$14.73 (bull), the price of HK$3.99 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 56/100 (solid quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
QingSong Health Corp reported revenue of 1.3B CNY in FY2025 versus 394M CNY in FY2022, a compound +47.2%/yr. Reported net income was −380M CNY in FY2025.
Key figures
Market cap HK$2.0B (≈ $250M) · P/S ratio 1.56 · Net margin −30.2% · Return on assets (EBIT) −3.7% · Operating margin 5.2% · Revenue (TTM) 1.3B CNY · Revenue growth (YoY) +1.7% · EPS growth (YoY) +40.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
For context, the median of 10 Healthcare peers we cover trades at 6% fair-value upside, at 153%, 2661 screens cheaper than that median.
Fair Value models
Bear HK$6.94Fair Value HK$10.09Bull HK$14.73
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+32.9%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+47.2%
’22
’23
’24
’25
Profit margin (trend) ⓘ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.
1.6% (2022) → −30.2% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Little optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
less than -40 %
Yearly growth needed for the next five years to justify today's price.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Health Information Services · 129 stocks
Beats the industry median on 7/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score56 · Above median
Fair Value upside+153.2% · Top 25%
Profitability
Return on assets4.9% · Top 25%
Net margin (TTM)−30.2% · Bottom 25%
Operating margin (TTM)5.2% · Above median
Growth and dividend
Revenue growth1.7% · Below median
Valuation Multiplesvs Health Information Services median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "QingSong Health Corp Fair Value". https://www.fairvalue-calculator.com/stock/2661
Frequently asked questions
Is QingSong Health Corp (2661) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$10.09 versus a price of HK$3.99, about +153% upside (undervalued).
What is the fair value of 2661?
Our model-based fair value for QingSong Health Corp is HK$10.09 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$3.99.
What is the quality score of 2661?
QingSong Health Corp has a Quality Score of 56/100. 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 QingSong Health Corp (2661)?
Our model-based price target is the fair value of HK$10.09 (as of Sep 27, 2026) from 7 valuation models. Cautious scenario HK$6.94, optimistic scenario HK$14.73. It is a calculation from audited fundamentals, not an analyst target.
What is the QingSong Health Corp stock forecast for 2026?
Our models put fair value at HK$10.09, about +153% upside versus a price of HK$3.99 (undervalued). Cautious scenario HK$6.94, optimistic scenario HK$14.73. The calculation is refreshed regularly with new filings.
What is the revenue of QingSong Health Corp (2661)?
QingSong Health Corp reported trailing-twelve-month revenue of about 1.3B CNY (latest available figure, as of Sep 27, 2026).
What growth is priced into QingSong Health Corp (2661)?
For today's price to be fair in a discounted-cash-flow model, QingSong Health Corp would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 13.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 3 years revenue grew +47.2 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of 2661 use?
Our models discount QingSong Health Corp at 13.3 %: a base by market capitalisation (micro), country premium for Hong Kong. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For QingSong Health Corp that is less than minus 40 % per year a year over ten years, using the same discount rate (13.3 %) and the same formula as our fair value.
How much growth has QingSong Health Corp (2661) delivered so far?
Over the past 3 years revenue at QingSong Health Corp grew +47.2 % a year. The price currently implies less than minus 40 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of QingSong Health Corp (2661) growing?
The median revenue growth in the sector is +2.0 % a year. That is the yardstick for the growth priced into QingSong Health Corp (less than minus 40 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of QingSong Health Corp (2661)?
The free-cash-flow yield on the price is 11.57 %: that much free cash flow QingSong Health Corp produces per unit of market value. When it exceeds the discount rate of our models (13.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of QingSong Health Corp (2661)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For QingSong Health Corp it is HK$10.09 per share (as of Sep 27, 2026), against a price of HK$3.99. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is QingSong Health Corp stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 2661 trades below its calculated fair value: price HK$3.99, fair value HK$10.09, a gap of about +153% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 2661?
No. The price is what the market pays today (HK$3.99); the fair value is what the company's own numbers justify (HK$10.09). For QingSong Health Corp the two are HK$6.11 per share apart. That gap is exactly why we show both numbers side by side.
How much is QingSong Health Corp worth?
The market values QingSong Health Corp at about HK$2.0B (market capitalisation, as of Sep 27, 2026). Per share that is HK$3.99; our models calculate a fair value of HK$10.09 per share.
What do the bullish and bearish scenarios say about 2661?
Our models span a range for QingSong Health Corp: cautious scenario HK$6.94, base HK$10.09, optimistic HK$14.73 per share (as of Sep 27, 2026, price HK$3.99). The range comes from different growth and margin assumptions, not from analyst opinions.
Which stocks are comparable to QingSong Health Corp?
From the same area (Healthcare) we also value Veeva Systems Inc, Pro Medicus Limited, BrightSpring Health Services, Inc, Hinge Health, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is QingSong Health Corp stock attractive at the current price?
The data as of Sep 27, 2026: price HK$3.99, calculated fair value HK$10.09 (+153%), Quality Score 56/100, from 7 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 2661 calculated?
We run QingSong Health Corp through 7 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of HK$10.09, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.7 % above its aggregate fair value. QingSong Health Corp currently trades 61 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of QingSong Health Corp (2661)?
The closing price on Sep 30, 2026 was HK$3.99. Our model-based fair value is HK$10.09, about +153% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with QingSong Health Corp right now?
The price is below even our cautious bear case (HK$6.94). 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 (56/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (HK$6.94 to HK$14.73) leaves room in how you read the outcome.
Key figures of QingSong Health Corp
How large is the market capitalisation of QingSong Health Corp (2661)?
The market capitalisation of QingSong Health Corp is HK$2.0B (≈ $250M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of QingSong Health Corp (2661)?
The price-to-sales ratio of QingSong Health Corp is 1.56 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of QingSong Health Corp (2661)?
The net margin of QingSong Health Corp is −30.2% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the EBIT return on assets of QingSong Health Corp (2661)?
On an EBIT basis the return on assets of QingSong Health Corp is −3.7% (avg 4y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of QingSong Health Corp (2661)?
The operating margin of QingSong Health Corp is 5.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at QingSong Health Corp (2661)?
Revenue at QingSong Health Corp is growing +1.7% versus a year earlier (3y avg +47.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at QingSong Health Corp (2661)?
Earnings per share at QingSong Health Corp are growing +40.3% versus a year earlier. How much earnings per share grew versus a year earlier.
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