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Changsha Kaiyuan Instruments (300338) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Changsha Kaiyuan Instruments stock ¥1.43, price ¥1.89, that is 24.3% below the price, quality 38 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Technology CN · ISIN CNE100001JV0

CK Changsha Kaiyuan Instruments logo Thin data Nov 10, 2026

Changsha Kaiyuan Instruments

300338 · SHE
Expensive, weak quality

Our calculation puts a fair price 24% below what the stock costs today.

Negative equity (buybacks among others)
Profit last quarter 72% below a year ago.
Fair value ¥1.43 · Overvalued
Quality 38/100
Weak Growth (revenue 5y −30.7 %/yr in CNY)
Loss-making · -98.2% net margin (TTM)
Negative free cash flow
Trails peers (0/7)
Narrow moat 12/100
Thin data
Estimate
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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

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Price vs Fair Value

¥8.18 ¥1.06 Fair Value ¥1.43 Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range ¥1.06 – ¥8.18 · fair‑value band ¥1.07 – ¥1.78 · the ¥1.89 price screens above the ¥1.43 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 10, 2026.

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Company profile

Kaiyuan Education Technology Group Co., Ltd. engages in the vocational education business in the People's Republic of China.

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The company provides education and training related services, such as improvement in the quality and technical skills of workers to adapt to the latest standards and requirements of various industries.

It also engages in providing academic qualifications intermediary services; exploration and development of internet education; launching an industrial internet platform; and AI intelligent adaptive learning platform.

It provides its services to learners at multiple levels, including employed persons, job seekers, college students, and vocational colleges.

The company formerly known as Changsha Kaiyuan Instrument Co., Ltd. and changed its name to Kaiyuan Education Technology Group Co., Ltd. Kaiyuan Education Technology Group Co., Ltd. was founded in 1992 and is headquartered in Changsha, the People's Republic of China.

Stock analysis

Changsha Kaiyuan Instruments (300338) currently trades at ¥1.89, while our estimate is ¥1.43, 24% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: ¥1.07 (bear) to ¥1.78 (bull), the price of ¥1.89 sits above 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 38/100 (below-average quality), in the Technology sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Changsha Kaiyuan Instruments reported revenue of 136M CNY in FY2025 versus 931M CNY in FY2021, a compound −38.2%/yr. Reported net income was −138M CNY in FY2025.

Key figures

Market cap 761M CNY (≈ $114M) Micro · P/S ratio 5.21 · EPS (TTM) ¥−0.3200 · Net margin −98.2% · Return on equity −61.8% · Return on assets (EBIT) −10.8% (5-year average) · Operating margin −19.1% · Revenue (TTM) 131M CNY.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 12 out of 100 (medium confidence).

What moves the price

The share trades about 60% below its 52-week high and 12% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −46% fair-value upside, at −24%, 300338 screens cheaper than that median.

Fair Value

Bear ¥1.07 Fair Value ¥1.43 Bull ¥1.78
Price ¥1.89 · Downside -24.3%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 38/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 12
How much profit the company makes from its sales and capital
Quality Growth 16
Are margins and returns getting better?
Cashflow 11
Do the profits arrive as real cash?
Financial strength 50
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 51
How calm the share price moves, does not count
Price momentum 1
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 3
Distance to the 52-week high, does not count
New shares 75
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−20.4%
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.
−40.9%
Revenue growth 5 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.
−30.7%
Start year 2020 (pandemic). Over 10 years: −7.1% a year
Revenue growth 16 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.
−1.0%
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.
−47.8% (2020) → −53.9% (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

300338 screens overvalued: fair value 24% below the price. Compare with Keysight Technologies, Inc →

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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.Scientific & Technical Instruments · 180 stocks

Beats the industry median on 0/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 38 · Bottom 25%
Fair Value upside −24.3% · Below median
Profitability
Return on equity (12 months) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets −34.1% · Bottom 25%
Net margin (12 months) −98.2% · Bottom 25%
Operating margin (12 months) −19.1% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 5.2% · Below median
Balance sheet
Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Valuation Multiplesvs Scientific & Technical Instruments median · lower = cheaper

P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (12 months) 5.80× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)1 · sector 1
FUTURE (revenue growth)26 · sector 47
PAST (return on equity)0 · sector 20
HEALTH (low debt)0 · sector 98
DIVIDEND (yield)0 · sector 20

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

Context: sector, industry, market

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 Scientific & Technical Instruments stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Garmin Ltd GRMN $288.66 $320.98 +11% vs 300338
Teledyne Technologies Incorporated TDY $646.13 $680.46 +5% vs 300338
MKS Inc MKSI $213.47 $199.16 −7% vs 300338
Cognex Corporation CGNX $50.80 $38.10 −25% vs 300338
Trimble Inc TRMB $54.75 $29.48 −46% vs 300338
Fortive Corporation FTV $67.73 $35.67 −47% vs 300338
ESCO Technologies Inc ESE $238.38 $108.62 −54% vs 300338
Coherent Corp COHR $214.66 $92.93 −57% vs 300338
Keysight Technologies, Inc KEYS $291.46 $117.27 −60% vs 300338
AVIC Chengdu Aircraft Company 302132 ¥68.17 ¥12.60 −82% vs 300338

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Changsha Kaiyuan Instruments: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Changsha Kaiyuan Instruments Fair Value". https://www.fairvalue-calculator.com/stock/300338

Frequently asked questions

Is Changsha Kaiyuan Instruments (300338) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is ¥1.43 versus a price of ¥1.89, about 24% lower (overvalued).
What is the fair value of 300338?
Our estimate for Changsha Kaiyuan Instruments is ¥1.43 (as of Nov 10, 2026), built from audited fundamentals. The current price: ¥1.89.
What is the quality score of 300338?
Changsha Kaiyuan Instruments has a Quality Score of 38/100. 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 Changsha Kaiyuan Instruments (300338)?
Our calculated price target is the estimate of ¥1.43 (as of Nov 10, 2026). Cautious scenario ¥1.07, optimistic scenario ¥1.78. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Changsha Kaiyuan Instruments stock forecast for 2026?
Our estimate puts fair value at ¥1.43, about 24% lower versus a price of ¥1.89 (overvalued). Cautious scenario ¥1.07, optimistic scenario ¥1.78. The calculation is refreshed regularly with new filings.
What is the revenue of Changsha Kaiyuan Instruments (300338)?
Changsha Kaiyuan Instruments reported trailing-twelve-month revenue of about 131M CNY (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Changsha Kaiyuan Instruments (300338)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Changsha Kaiyuan Instruments it is ¥1.43 per share (as of Nov 10, 2026), against a price of ¥1.89.
Is Changsha Kaiyuan Instruments stock overvalued or undervalued in 2026?
As of Nov 10, 2026, 300338 trades above its calculated fair value: price ¥1.89, fair value ¥1.43, a gap of about −24% (overvalued). 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 300338?
No. The price is what the market pays today (¥1.89); the fair value is what the company's own numbers justify (¥1.43). For Changsha Kaiyuan Instruments the two are ¥0.4600 per share apart. That gap is exactly why we show both numbers side by side.
How much is Changsha Kaiyuan Instruments worth?
The market values Changsha Kaiyuan Instruments at about 761M CNY (market capitalisation, as of Nov 10, 2026). Per share that is ¥1.89; our models calculate a fair value of ¥1.43 per share.
What do the bullish and bearish scenarios say about 300338?
Our models span a range for Changsha Kaiyuan Instruments: cautious scenario ¥1.07, base ¥1.43, optimistic ¥1.78 per share (as of Nov 10, 2026, price ¥1.89). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Changsha Kaiyuan Instruments (300338)?
Balance-sheet figures for Changsha Kaiyuan Instruments (as of Nov 10, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is 300338 from its 52-week high?
Changsha Kaiyuan Instruments trades at ¥1.89, about 60% below its 52-week high of ¥4.69 and 12% above the low of ¥1.69 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of ¥1.43 is for.
Which stocks are comparable to Changsha Kaiyuan Instruments?
From the same area (Technology) we also value Keysight Technologies, Inc, Garmin Ltd, Coherent Corp, Teledyne Technologies Incorporated, 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 Changsha Kaiyuan Instruments stock attractive at the current price?
The data as of Nov 10, 2026: price ¥1.89, calculated fair value ¥1.43 (−24%), Quality Score 38/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Changsha Kaiyuan Instruments itself currently trades above fair value. 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 Changsha Kaiyuan Instruments (300338)?
The closing price on Nov 10, 2026 was ¥1.89. Our estimate is ¥1.43, about 24% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Changsha Kaiyuan Instruments right now?
The price sits above even our optimistic bull case (¥1.78). The favourable scenario is already priced in. Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Changsha Kaiyuan Instruments

How large is the market capitalisation of Changsha Kaiyuan Instruments (300338)?
The market capitalisation of Changsha Kaiyuan Instruments is 761M CNY (≈ $114M). 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 Changsha Kaiyuan Instruments (300338)?
The price-to-sales ratio of Changsha Kaiyuan Instruments is 5.21 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Changsha Kaiyuan Instruments (300338)?
Earnings per share at Changsha Kaiyuan Instruments are ¥−0.3200. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Changsha Kaiyuan Instruments (300338)?
The net margin of Changsha Kaiyuan Instruments is −98.2% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Changsha Kaiyuan Instruments (300338)?
The return on equity (ROE) of Changsha Kaiyuan Instruments is −61.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Changsha Kaiyuan Instruments (300338)?
On an EBIT basis the return on assets of Changsha Kaiyuan Instruments is −10.8% (avg 5y). 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 Changsha Kaiyuan Instruments (300338)?
The operating margin of Changsha Kaiyuan Instruments is −19.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Changsha Kaiyuan Instruments (300338)?
Revenue at Changsha Kaiyuan Instruments is growing +5.2% versus a year earlier (3y avg −40.9%). 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 Changsha Kaiyuan Instruments (300338)?
Earnings per share at Changsha Kaiyuan Instruments are growing −71.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Changsha Kaiyuan Instruments (300338) generate?
The free cash flow of Changsha Kaiyuan Instruments is −141M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Changsha Kaiyuan Instruments (300338) carry?
The net debt of Changsha Kaiyuan Instruments is 43.5M CNY (fiscal year 2023). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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