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Songcheng Performance Development Co (300144) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 16.5B CNY

SP Songcheng Performance Development Co 300144 · SHE
Price¥6.14
Fair Value¥6.85
Upside+11.6%
Quality73/100
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Mixed Growth
Highly profitable · 35.0% net margin
Low debt · generates free cash flow
3.91% dividend yield
Ranks above peers (9/15)
Wide moat 72/100
Evidence: High Range ¥5.14 – ¥8.57 Share as image

Fair value as of: Jul 7, 2026

From 26 valuation models · updated 34 days ago

Share price +6.2% over the past month.

A solid business, screening 12% undervalued on our models.

What matters now

  • Our model range runs from ¥5.14 (bear) to ¥8.57 (bull), base ¥6.85. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 73/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

¥20.67 ¥5.75 Fair Value ¥6.85 Feb 2021 Aug 2026

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 ¥5.75 – ¥20.67 · fair‑value band ¥5.14 – ¥8.57 · the ¥6.14 price screens below the ¥6.85 fair value. Dashed = 300-day average. As of Jul 7, 2026.

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Analysis

Songcheng Performance Development Co (300144) currently trades at ¥6.14, while our model-based Fair Value estimate is ¥6.85, implying the stock looks roughly 11.6% undervalued today. The Quality Score stands at 73/100 (solid quality), in the Consumer Cyclical 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: high), always confirm before acting.

Over the trailing twelve months, Songcheng Performance Development Co generated revenue of 2.2B CNY at a net margin of 35.0%. Revenue declined 5.3% year over year. It earns a return on equity of 9.7%. The balance sheet holds a net cash position of 2.6B CNY. Fundamentals as of Jul 7, 2026

Our scenario range runs from ¥5.14 (bear case) to ¥8.57 (bull case); at ¥6.14, 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 36% below its 52-week high and 1% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 2% fair-value upside, at 12%, 300144 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.

Model BearBaseBull Evidence
Highest evidence
Growth DCF ¥8.46 ¥15.44 ¥28.84 80
Residual Income ¥2.82 ¥3.11 ¥4.41 76
Rev-Margin DCF ¥3.81 ¥5.19 ¥6.97 74
All 26 models by family
DCF Models
FCF DCF ¥8.84 ¥13.99 ¥28.97 38
Owner Earnings ¥6.22 ¥12.76 ¥26.48 31
5Y Revenue Exit ¥3.81 ¥4.92 ¥6.92 39
5Y EBITDA Exit ¥6.52 ¥10.77 ¥18.50 41
5Y P/E Exit ¥6.90 ¥12.63 ¥19.93 38
10Y Revenue Exit ¥5.24 ¥7.42 ¥9.27 36
10Y EBITDA Exit ¥7.19 ¥12.62 ¥22.25 37
10Y P/E Exit ¥7.46 ¥13.35 ¥23.30 35
Earnings-Based
Graham-Dodd ¥2.12 ¥14.77 ¥20.73 54
Lynch FV ¥4.47 ¥6.39 ¥8.31 50
PEG = 1.0 ¥4.47 ¥6.39 ¥8.31 46
EPV ¥4.03 ¥4.52 ¥4.94 59
Dividend Discount
Gordon GGM ¥1.85 ¥3.84 ¥6.09 70
DDM Multi-Stage ¥1.85 ¥3.24 ¥4.03 61
Multiples
P/E Multiple ¥5.14 ¥6.85 ¥8.57 63
P/S Multiple ¥0.7700 ¥1.03 ¥1.29 58
P/B Multiple ¥3.97 ¥5.30 ¥6.62 55
EV/EBIT ¥6.42 ¥8.20 ¥9.97 53
EV/EBITDA ¥5.70 ¥7.23 ¥8.77 54
EV/Revenue ¥1.82 ¥2.13 ¥2.44 43
Asset-Based
NCAV (Graham) ¥1.61 ¥2.15 ¥3.21 50
Growth DCF
Growth DCF ¥8.46 ¥15.44 ¥28.84 80
Rev-Margin DCF ¥3.81 ¥5.19 ¥6.97 74
Economic Profit
Residual Income ¥2.82 ¥3.11 ¥4.41 76
ROIC Compounder ¥4.63 ¥6.43 ¥7.71 72
Growth Earnings
Growth-Adj P/E ¥6.19 ¥8.85 ¥11.50 68

Widest divergence: DCF Models (¥12.62) versus Asset-Based (¥2.15). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 2.2B CNY
Revenue growth (YoY) -5.3%
Net margin 35.0%
Return on equity 9.7%
Free cash flow 1.3B CNY FY2025
P/E ratio 20.9
More key figures
Operating margin 48.6%
EPS (TTM) ¥0.3000
Dividend yield 3.9%
EPS growth (YoY) -15.1%
Net cash 2.6B CNY FY2024

Figures from reported company fundamentals · as of Jul 7, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 73/100

Of which business quality 72 · Market factors (momentum, volatility) 33

Profitability 46
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 93
Earnings quality: real cash, not paper profit
Fin. Strength 99
Balance sheet, leverage, solvency risk
Investment 70
Disciplined investing over empire-building
Low Volatility 87
Calm price path (market factor)
Momentum 14
Price trend over the last 3–12 months (market factor)
52W Momentum 4
Distance to the 52-week high (market factor)
Net Issuance 79
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

Songcheng Performance Development Co.,Ltd operates in the cultural tourism and performing arts industry in China. The company operates tourism resorts and theme parks; and performs art shows under Songcheng and the Eternal Love brand names.

Full company description

Songcheng Performance Development Co.,Ltd operates in the cultural tourism and performing arts industry in China. The company operates tourism resorts and theme parks; and performs art shows under Songcheng and the Eternal Love brand names. It also engages in the leisure, tourism, live entertainment, and online entertainment, as well as catering services and marketing planning of tourist attractions; and development of tourism resources, tourism planning and design, artistic creation, brand planning of tourist attractions, and brokerage actvities. In addition, the company offers travel service business, including asset-light export business, tourism travel clothing service, and online ticket sales business; and internet information service, using information network to operate music entertainment products, and competition activities. Further, it engages in theme park development and operation; technical consulting in network technology; cultural event planning; and real estate development activities. The company was formerly known as Hangzhou Songcheng Tourism Development Co.,Ltd. and changed its name to Songcheng Performance Development Co.,Ltd in April 2014. Songcheng Performance Development Co.,Ltd was founded in 1994 and is headquartered in Hangzhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Songcheng Performance Development Co reported revenue of ¥2.3B in FY2025 versus ¥1.2B in FY2021, a compound +17.5%/yr. Reported net income was ¥818M in FY2025, compounding +26.9%/yr from FY2021.

Growth Quality 81/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
2.3B CNY
Latest YoY
−6.6%
Avg. growth/yr (5Y)
+20.1%
Avg. growth/yr (18Y)
+17.7%
Revenue +17.5%/yr
FY21 ¥1.2B
FY22 ¥458M
FY23 ¥1.9B
FY24 ¥2.4B
FY25 ¥2.3B
Net income +26.9%/yr
FY21 ¥315M
FY22 −¥47.7M
FY23 −¥110M
FY24 ¥1.0B
FY25 ¥818M

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Cite: Fair Value Calculator (2026). "Songcheng Performance Development Co Fair Value". https://www.fairvalue-calculator.com/stock/300144

Peer Group

Leisure · 192 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 73 · Top 25%
Fair Value upside +12% · Above median
Return on equity (TTM) 10% · Above median
Return on assets 6% · Top 25%
Net margin (TTM) 35% · Top 25%
Operating margin (TTM) 49% · Top 25%
Revenue growth -5% · Below median
Dividend yield (TTM) 3.9% · Above median
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Leisure median · lower = cheaper

P/E (TTM) 20.9× · Pricier than median
P/B 1.95× · Pricier than median
P/S (TTM) 7.39× · Pricier than 75% of peers
P/FCF 1.9× · Cheaper than median
EV/EBITDA 10.9× · Pricier than median
PEG 17.02× · Pricier than 75% of peers

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 49 · sector 14
FUTURE 0 · sector 18
PAST 39 · sector 19
HEALTH 100 · sector 94
DIVIDEND 78 · sector 51

Insider activity: 45/100

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.

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Frequently asked questions

Is Songcheng Performance Development Co (300144) overvalued or undervalued?
As of Jul 7, 2026, our model estimates a fair value of ¥6.85 versus a price of ¥6.14, about +12% (undervalued).
What is the fair value of 300144?
Our model-based fair value for Songcheng Performance Development Co is ¥6.85 (as of Jul 7, 2026), built from audited fundamentals. The current price is ¥6.14.
What is the quality score of 300144?
Songcheng Performance Development Co has a Quality Score of 73/100. 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 Songcheng Performance Development Co (300144)?
Songcheng Performance Development Co reported trailing-twelve-month revenue of about 2.2B CNY (latest available figure, as of Jul 7, 2026).
What is the net profit margin of 300144?
The net profit margin of Songcheng Performance Development Co is about 35.0%, meaning it keeps roughly 35.0% of revenue as net income. Based on the latest reported figures.
Does Songcheng Performance Development Co pay a dividend?
Songcheng Performance Development Co currently shows a dividend yield of about 3.91% relative to its recent price (as of Jul 7, 2026).

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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