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Xinji Shaxi Group Co Ltd (3603) Fair Value & Analysis

Real Estate · HK · Market cap HK$125M

XS Xinji Shaxi Group Co Ltd 3603 · HK
PriceHK$0.0650
Fair ValueHK$0.1254
Upside+92.9%
Quality61/100
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Weak Growth
Loss-making · -12.9% net margin
Low debt · generates free cash flow
Ranks above peers (7/10)
Narrow moat 37/100
Evidence: Medium Range HK$0.0685 – HK$0.1766 Share as image

Fair value as of: Aug 13, 2026

From 11 valuation models · updated 3 days ago

Fair value updated Aug 13, 2026, revised from HK$0.1313 to HK$0.1254 (−4.5%) since Aug 6, 2026. Share price −24.4% over the past month.

A solid business, screening 93% undervalued on our models.

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What matters now

  • The price is below even our cautious bear case (HK$0.0685). The market is more pessimistic than our downside scenario.
  • Solid quality (61/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (HK$0.0685 to HK$0.1766) leaves room in how you read the outcome.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

HK$1.65 HK$0.0370 Fair Value HK$0.1254 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range HK$0.0370 – HK$1.65 · fair‑value band HK$0.0685 – HK$0.1766 · the HK$0.0650 price screens below the HK$0.1254 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Xinji Shaxi Group Co Ltd (3603) currently trades at HK$0.0650, while our model-based Fair Value estimate is HK$0.1254, implying the stock looks roughly 92.9% undervalued today. The Quality Score stands at 61/100 (solid quality), in the Real Estate 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: medium), always confirm before acting.

Over the trailing twelve months, Xinji Shaxi Group Co Ltd generated revenue of HK$215M at a net margin of -12.9%. Revenue declined 21.3% year over year. It earns a return on equity of -2.4%. Net debt stands at HK$302M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.0685 (bear case) to HK$0.1766 (bull case); at HK$0.0650, the current price sits below 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 46% below its 52-week high and 76% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 15% fair-value upside, at 93%, 3603 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 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. Evidence
Highest evidence
Growth DCF HK$0.6200 HK$0.7000 HK$0.8400 80
Rev-Margin DCF HK$0.4800 HK$0.5600 HK$0.6500 74
EV/EBITDA HK$0.4900 HK$0.5700 HK$0.6500 54
All 11 models by family
DCF Models
FCF DCF HK$0.6100 HK$0.7000 HK$0.8500 38
5Y Revenue Exit HK$0.4800 HK$0.5500 HK$0.6300 39
5Y EBITDA Exit HK$0.5300 HK$0.6200 HK$0.7400 41
10Y Revenue Exit HK$0.5400 HK$0.5800 HK$0.6300 36
10Y EBITDA Exit HK$0.5600 HK$0.6200 HK$0.6800 37
Multiples
EV/EBIT HK$0.5000 HK$0.5800 HK$0.6700 53
EV/EBITDA HK$0.4900 HK$0.5700 HK$0.6500 54
EV/Revenue HK$0.3800 HK$0.4400 HK$0.5100 43
Asset-Based
NCAV (Graham) HK$0.3800 HK$0.5200 HK$0.7700 50
Growth DCF
Growth DCF HK$0.6200 HK$0.7000 HK$0.8400 80
Rev-Margin DCF HK$0.4800 HK$0.5600 HK$0.6500 74

Widest divergence: DCF Models (HK$0.6200) versus Asset-Based (HK$0.5200). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$215M
Revenue growth (YoY) -21.3%
Net margin -12.9%
Return on equity -2.4%
Free cash flow HK$75.3M FY2025
Operating margin 60.0%
More key figures
EPS (TTM) HK$-0.0200
EPS growth (YoY) -71.7%
Net debt HK$302M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 61/100

Of which business quality 61 · Market factors (momentum, volatility) 49

Profitability 7
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 96
Earnings quality: real cash, not paper profit
Fin. Strength 54
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 21
Calm price path (market factor)
Momentum 60
Price trend over the last 3–12 months (market factor)
52W Momentum 62
Distance to the 52-week high (market factor)
Net Issuance 83
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

Xinji Shaxi Group Co., Ltd, an investment holding company, engages in operating and managing hospitality supplies and home furnishing shopping malls in the People's Republic of China. It operates in two segments, Property Leasing and Property Management Services.

Full company description

Xinji Shaxi Group Co., Ltd, an investment holding company, engages in operating and managing hospitality supplies and home furnishing shopping malls in the People's Republic of China. It operates in two segments, Property Leasing and Property Management Services. The company also sells hospitality products and home furnishings through online shopping mall; and provides business management service to other shopping malls. In addition, it provides property management services to tenants and apartment properties. Further, the company manages owned/leased portfolio shopping mall, subleasing apartments, property management projects, and online shopping mall; provides exhibition management services; and engages in online trading activities. The company was founded in 2002 and is headquartered in Guangzhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Xinji Shaxi Group Co Ltd reported revenue of HK$215M in FY2025 versus HK$297M in FY2021, a compound −7.8%/yr. Reported net income was −HK$27.7M in FY2025.

Growth Quality 23/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$215M
Latest YoY
−15.5%
Avg. growth/yr (3Y) 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.
−10.3%
Avg. growth/yr (5Y) 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.
−5.7%
Avg. growth/yr (9Y) 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.
+0.3%
Revenue −7.8%/yr
FY21 HK$297M
FY22 HK$298M
FY23 HK$273M
FY24 HK$255M
FY25 HK$215M
Net income
FY21 −HK$207M
FY22 −HK$169M
FY23 −HK$80.0M
FY24 −HK$162M
FY25 −HK$27.7M

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Cite: Fair Value Calculator (2026). "Xinji Shaxi Group Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/3603

Peer Group

Real Estate Services · 529 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 63 · Top 25%
Fair Value upside +100% · Top 25%
Return on assets 3% · Above median
Net margin (TTM) -13% · Bottom 25%
Operating margin (TTM) 60% · Top 25%
Revenue growth -21% · Bottom 25%
Debt / equity 0.29× · Lower than median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/S (TTM) 0.07× · Cheaper than 75% of peers
P/FCF 0.2× · Cheaper 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 100 · sector 34
FUTURE 0 · sector 10
PAST 0 · sector 16
HEALTH 85 · sector 85
DIVIDEND 0 · sector 59

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.

Similar stocks

10 more Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Plaza S.A MALLPLAZA 3,989 CLP 4,571 CLP +15%
PT Solusi Tunas Pratama Tbk SUPR 43,850 IDR 15,049 IDR -66%
Cencosud Shopping S.A CENCOMALLS 2,412 CLP 2,976 CLP +23%
PT Sarana Menara Nusantara Tbk. owns and TOWR 392.00 IDR 1,012 IDR +158%
PT Metropolitan Kentjana Tbk MKPI 22,000 IDR 19,160 IDR -13%
PT Bangun Kosambi Sukses Tbk, CBDK 3,610 IDR 3,464 IDR -4%
IRSA Inversiones y Representaciones Sociedad Anónima, IRSA 2,495 ARS 2,990 ARS +20%
PT Plaza Indonesia Realty Tbk PLIN 2,510 IDR 2,698 IDR +7%
PT MNC Tourism Indonesia Tbk, KPIG 74.00 IDR 122.12 IDR +65%
PT Indonesian Paradise Property Tbk INPP 770.00 IDR 291.52 IDR -62%

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Frequently asked questions

Is Xinji Shaxi Group Co Ltd (3603) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.1254 versus a price of HK$0.0650, about +93% (undervalued).
What is the fair value of 3603?
Our model-based fair value for Xinji Shaxi Group Co Ltd is HK$0.1254 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.0650.
What is the quality score of 3603?
Xinji Shaxi Group Co Ltd has a Quality Score of 61/100. 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 Xinji Shaxi Group Co Ltd (3603)?
Xinji Shaxi Group Co Ltd reported trailing-twelve-month revenue of about HK$215M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 3603?
The net profit margin of Xinji Shaxi Group Co Ltd is about -12.9%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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