HAXC Holdings (300928) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 2.4B CNY

Below-average quality, and screening another 56% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (¥14.14). 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.
• A fairly wide model range (¥7.48 to ¥14.14) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 9, 2026.

How to read this chart

60‑month range ¥22.51 – ¥73.83 · fair‑value band ¥7.48 – ¥14.14 · the ¥25.76 price screens above the ¥11.32 fair value. Dashed = 300-day average. As of Jul 9, 2026.

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Analysis

HAXC Holdings (300928) currently trades at ¥25.76, while our model-based Fair Value estimate is ¥11.32, implying the stock looks roughly 56.1% overvalued today. The Quality Score stands at 43/100 (below-average quality), in the Consumer Cyclical 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: low).

Over the trailing twelve months, HAXC Holdings generated revenue of 833M CNY at a net margin of -14.1%. Revenue declined 37.8% year over year. It earns a return on equity of -10.3%. Fundamentals as of Jul 9, 2026

Our scenario range runs from ¥7.48 (bear case) to ¥14.14 (bull case); at ¥25.76, 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. The share trades about 32% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -44% fair-value upside, at -56%, 300928 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.

Key figures & financial health

Quality Score breakdown

About the company

HAXC Holdings (Beijing) Co., Ltd. manufactures and sells automotive cockpit electronics. The company is involved in customization and selection of core display devices, software system development, and sales of supporting devices for automotive central control and LCD instrumentation; and design of human-computer interaction, and user interaction/interface, …

Full company description

HAXC Holdings (Beijing) Co., Ltd. manufactures and sells automotive cockpit electronics. The company is involved in customization and selection of core display devices, software system development, and sales of supporting devices for automotive central control and LCD instrumentation; and design of human-computer interaction, and user interaction/interface, in-vehicle Ethernet system, and other software and hardware products and solutions that are in line with the development of intelligent and electronic car cabins, as well as other general-purpose component products. Its products and services include automotive display screens, full LCD instrument software and hardware systems, and integrated cockpit display systems. HAXC Holdings (Beijing) Co., Ltd. was founded in 2013 and is based in Beijing, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

HAXC Holdings reported revenue of ¥905M in FY2025 versus ¥725M in FY2021, a compound +5.7%/yr. Reported net income was −¥122M in FY2025.

300928 screens 56% overvalued. Compare with Hyundai Mobis Co →

Peer Group

Auto Parts · 642 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.

Valuation Multiples vs Auto Parts median · lower = cheaper

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

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

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.