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

We calculate from audited financials what Changsha Kaiyuan Instruments is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

Valuation from Jun 23, 2026. With the latest figures (losses, negative cash flow), a fair value can no longer be calculated.
  1. Fair value above price? No
  2. Good quality? No
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Technology · CN · ISIN CNE100001JV0

CK Thin data Jun 23, 2026

Changsha Kaiyuan Instruments

300338 · SHE

Weakest SetupStrongly overvalued and low quality.

!Fair value ¥0.8400 · Strongly overvalued (−70%)
!Quality 43/100
!Weak Growth (revenue 5y −30.7 %/yr)
!Loss-making · -110.5% net margin (TTM)
!Negative equity (buybacks among others) · negative free cash flow
!Trails peers (1/7)
!Narrow moat 12/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

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

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

¥8.18 ¥1.06 Fair Value ¥0.8400 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jun 23, 2026.

How to read this chart

60‑month range ¥1.06 – ¥8.18 · fair‑value band ¥0.6300 – ¥1.06 · the ¥2.82 price screens above the ¥0.8400 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. Dashed = 300-day average. As of Jun 23, 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. 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.

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Kaiyuan Education Technology Group Co., Ltd. engages in the vocational education business in the People's Republic of China. 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 ¥2.82, while our model-based Fair Value estimate is ¥0.8400, implying the stock looks roughly 235.7% overvalued today.

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Valuation

How firm this estimate is: it rests on 5 models at a data quality of 94/100, which puts the evidence level at low.

Scenario range: ¥0.6300 (bear) to ¥1.06 (bull), the price of ¥2.82 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 43/100 (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 1.3B CNY (≈ $196M) · P/S ratio 10.2 · EPS (TTM) ¥−0.3500 · Net margin −101% · Return on equity −61.8% · Return on assets (EBIT) −10.8% · Operating margin −79.7% · Revenue (TTM) 129M CNY.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).

What moves the price

The share trades about 40% below its 52-week high and 15% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −34% fair-value upside, at −70%, 300338 screens richer than that median.

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Quality Score breakdown

Overall quality 43/100

Of which business quality 41 · Market factors (momentum, volatility) 27

Profitability 12
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 11
Earnings quality: real cash, not paper profit
Fin. Strength 50
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 59
Calm price path (market factor)
Momentum 18
Price trend over the last 3–12 months (market factor)
52W Momentum 8
Distance to the 52-week high (market factor)
Net Issuance 75
Share count: buybacks or dilution?

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 236% overvalued. 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 · 159 stocks

Beats the industry median on 1/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 43 · Bottom 25%
Fair Value upside −70% · Bottom 25%
Profitability
Return on equity (TTM) 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 −11% · Bottom 25%
Net margin (TTM) −110% · Bottom 25%
Operating margin (TTM) −80% · Bottom 25%
Growth and dividend
Revenue growth −20% · Bottom 25%
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 (TTM) 1.52× · Cheaper than median

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.

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Keysight Technologies, Inc KEYS $347.32 $115.39 −67%
Garmin Ltd GRMN $284.67 $304.44 +7%
Teledyne Technologies Incorporated TDY $621.05 $683.16 +10%
Chroma ATE Inc 2360 2,295 TWD 618.78 TWD −73%
MKS Inc MKSI $260.37 $201.24 −23%
AVIC Chengdu Aircraft Company 302132 ¥59.95 ¥19.61 −67%
Fortive Corporation FTV $55.95 $34.86 −38%
Trimble Inc TRMB $59.30 $29.11 −51%
Cognex Corporation CGNX $58.19 $38.50 −34%
Wuhan Guide Infrared Co 002414 ¥12.23 ¥9.52 −22%

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Changsha Kaiyuan Instruments · Fair Value
¥0.8400 −236%Fair Value
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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 Jun 23, 2026, our model estimates a fair value of ¥0.8400 versus a price of ¥2.82, about −70% upside (overvalued).
What is the fair value of 300338?
Our model-based fair value for Changsha Kaiyuan Instruments is ¥0.8400 (as of Jun 23, 2026), built from audited fundamentals. The current price: ¥2.82.
What is the quality score of 300338?
Changsha Kaiyuan Instruments 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 price target for Changsha Kaiyuan Instruments (300338)?
Our model-based price target is the fair value of ¥0.8400 (as of Jun 23, 2026) from 5 valuation models. Cautious scenario ¥0.6300, optimistic scenario ¥1.06. It is a calculation from audited fundamentals, not an analyst target.
What is the Changsha Kaiyuan Instruments stock forecast for 2026?
Our models put fair value at ¥0.8400, about −70% upside versus a price of ¥2.82 (overvalued). Cautious scenario ¥0.6300, optimistic scenario ¥1.06. 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 129M CNY (latest available figure, as of Jun 23, 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 ¥0.8400 per share (as of Jun 23, 2026), against a price of ¥2.82. It is the blended result of 5 valuation models (cash flow, earnings, asset, dividend).
Is Changsha Kaiyuan Instruments stock overvalued or undervalued in 2026?
As of Jun 23, 2026, 300338 trades above its calculated fair value: price ¥2.82, fair value ¥0.8400, a gap of about −70% (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 (¥2.82); the fair value is what the company's own numbers justify (¥0.8400). For Changsha Kaiyuan Instruments the two are ¥1.98 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 1.3B CNY (market capitalisation, as of Jun 23, 2026). Per share that is ¥2.82; our models calculate a fair value of ¥0.8400 per share.
What do the bullish and bearish scenarios say about 300338?
Our models span a range for Changsha Kaiyuan Instruments: cautious scenario ¥0.6300, base ¥0.8400, optimistic ¥1.06 per share (as of Jun 23, 2026, price ¥2.82). 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 Jun 23, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is 300338 from its 52-week high?
Changsha Kaiyuan Instruments trades at ¥2.82, about 40% below its 52-week high of ¥4.69 and 15% above the low of ¥2.46 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of ¥0.8400 is for.
Which stocks are comparable to Changsha Kaiyuan Instruments?
From the same area (Technology) we also value Keysight Technologies, Inc, Garmin Ltd, Teledyne Technologies Incorporated, Chroma ATE 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 Changsha Kaiyuan Instruments stock attractive at the current price?
The data as of Jun 23, 2026: price ¥2.82, calculated fair value ¥0.8400 (−70%), Quality Score 43/100, from 5 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 300338 calculated?
We run Changsha Kaiyuan Instruments through 5 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 ¥0.8400, 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 14.0 % 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 Sep 24, 2026 was ¥2.82. Our model-based fair value is ¥0.8400, about −70% upside (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 (¥1.06). 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. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

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 1.3B CNY (≈ $196M). 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 10.2 (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 ¥−0.3500. 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 −101% (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 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 −79.7% (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 −20.0% 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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