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China Dongxiang Group Co Ltd (3818) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$1.8B

CD China Dongxiang Group Co Ltd 3818 · HK
PriceHK$0.3000
Fair ValueHK$0.4100
Upside+36.7%
Quality51/100
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Weak Growth
Loss-making · -9.2% net margin
Low debt · generates free cash flow
3.28% dividend yield
Mixed vs. peers (6/12)
Narrow moat 4/100
Evidence: Medium Range HK$0.2800 – HK$0.5600 Share as image

Fair value as of: Aug 13, 2026

From 12 valuation models · updated 3 days ago

Share price +1.7% over the past month.

A solid business, screening 37% undervalued on our models.

What matters now

  • Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (HK$0.2800 to HK$0.5600) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

HK$1.17 HK$0.1973 Fair Value HK$0.4100 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$0.1973 – HK$1.17 · fair‑value band HK$0.2800 – HK$0.5600 · the HK$0.3000 price screens below the HK$0.4100 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

China Dongxiang Group Co Ltd (3818) currently trades at HK$0.3000, while our model-based Fair Value estimate is HK$0.4100, implying the stock looks roughly 36.7% undervalued today. The Quality Score stands at 51/100 (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: medium), always confirm before acting.

Over the trailing twelve months, China Dongxiang Group Co Ltd generated revenue of HK$1.7B at a net margin of -9.2%. Revenue grew 3.9% year over year. It earns a return on equity of -1.8%. The balance sheet holds a net cash position of HK$1.1B. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.2800 (bear case) to HK$0.5600 (bull case); at HK$0.3000, 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 45% below its 52-week high and 7% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 27% fair-value upside, at 37%, 3818 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$0.5200 HK$0.7300 HK$1.06 80
Rev-Margin DCF HK$0.5100 HK$0.7200 HK$1.16 74
Gordon GGM HK$0.2400 HK$0.4200 HK$0.5800 70
All 12 models by family
DCF Models
FCF DCF HK$0.5400 HK$0.6800 HK$1.11 38
5Y Revenue Exit HK$0.4800 HK$0.6600 HK$1.02 39
5Y EBITDA Exit HK$0.3900 HK$0.4700 HK$0.6300 41
10Y Revenue Exit HK$0.5000 HK$0.7800 HK$0.9500 36
10Y EBITDA Exit HK$0.4400 HK$0.6000 HK$0.8500 37
Dividend Discount
Gordon GGM HK$0.2400 HK$0.4200 HK$0.5800 70
DDM Multi-Stage HK$0.2400 HK$0.3900 HK$0.4500 61
Multiples
EV/EBITDA HK$0.3200 HK$0.3500 HK$0.3800 54
EV/Revenue HK$0.4400 HK$0.5300 HK$0.6100 43
Asset-Based
NCAV (Graham) HK$0.7400 HK$0.9900 HK$1.48 50
Growth DCF
Growth DCF HK$0.5200 HK$0.7300 HK$1.06 80
Rev-Margin DCF HK$0.5100 HK$0.7200 HK$1.16 74

Widest divergence: Asset-Based (HK$0.9900) versus Multiples (HK$0.3500). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$1.7B
Revenue growth (YoY) +3.9%
Net margin -9.2%
Return on equity -1.8%
Free cash flow HK$134M FY2025
Operating margin -41.1%
More key figures
EPS (TTM) HK$0.0300
Dividend yield 3.3%
EPS growth (YoY) +48.6%
Net cash HK$1.1B FY2025

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

Quality Score breakdown

Overall quality 51/100

Of which business quality 54 · Market factors (momentum, volatility) 21

Profitability 9
Margins and returns on capital today
Quality Growth 22
Are margins and returns improving?
Cashflow 49
Earnings quality: real cash, not paper profit
Fin. Strength 85
Balance sheet, leverage, solvency risk
Investment 97
Disciplined investing over empire-building
Low Volatility 61
Calm price path (market factor)
Momentum 4
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

China Dongxiang (Group) Co., Ltd., together with its subsidiaries, engages in the design, development, and sale of sport-related apparel, footwear, and accessories in the People's Republic of China and internationally. The company offers its products under the Kappa and Phenix brands.

Full company description

China Dongxiang (Group) Co., Ltd., together with its subsidiaries, engages in the design, development, and sale of sport-related apparel, footwear, and accessories in the People's Republic of China and internationally. The company offers its products under the Kappa and Phenix brands. It also investments in different kinds of financial assets or treasury products; design and sales of children's clothing; offers accommodation, tourism, and design and consulting services; engages in the hotel management and tourism; development and operation real estate properties; and owns trademark, as well as retail sales of sports-related products, apparel and accessories, and imports and exports activities. In addition, the company operates a chain of retail shops and outlets for selling sport apparel, footwear, and accessories, as well as through online. China Dongxiang (Group) Co., Ltd. was founded in 2002 and is headquartered in Beijing, the People's Republic of China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

China Dongxiang Group Co Ltd reported revenue of HK$1.7B in FY2025 versus HK$1.9B in FY2021, a compound −3.6%/yr. Reported net income was −HK$152M in FY2025.

Growth Quality 23/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$1.7B
Latest YoY
−1.5%
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.
−0.5%
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.
−2.1%
Avg. growth/yr (21Y) 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.
+58.8%
Revenue −3.6%/yr
FY21 HK$1.9B
FY22 HK$1.7B
FY23 HK$1.7B
FY24 HK$1.7B
FY25 HK$1.7B
Net income
FY21 −HK$1.8B
FY22 HK$115M
FY23 −HK$639M
FY24 HK$207M
FY25 −HK$152M

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Cite: Fair Value Calculator (2026). "China Dongxiang Group Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/3818

Peer Group

Apparel Manufacturing · 214 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 51 · Below median
Fair Value upside +37% · Above median
Return on assets -1% · Bottom 25%
Net margin (TTM) -9% · Bottom 25%
Operating margin (TTM) -41% · Bottom 25%
Revenue growth 4% · Above median
Dividend yield (TTM) 3.3% · Above median

Valuation Multiples vs Apparel Manufacturing median · lower = cheaper

P/S (TTM) 0.13× · Cheaper than 75% of peers
P/FCF 1.7× · Pricier than median
PEG 0.76× · Cheaper than median

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 82 · sector 30
FUTURE 20 · sector 5
PAST 0 · sector 21
HEALTH 100 · sector 98
DIVIDEND 66 · sector 55

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 Apparel Manufacturing stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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Youngor Fashion Co 600177 ¥7.78 ¥5.59 -28%
Page Industries Limited PAGEIND ₹38,295 ₹12,395 -68%
Hla Group 600398 ¥6.07 ¥9.92 +63%
Youngone Corporation 111770 85,200 KRW 188,736 KRW +122%
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Youngone Holdings 009970 188,300 KRW 697,038 KRW +270%
Wiselink Co 8932 105.00 TWD 37.95 TWD -64%

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Frequently asked questions

Is China Dongxiang Group Co Ltd (3818) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.4100 versus a price of HK$0.3000, about +37% (undervalued).
What is the fair value of 3818?
Our model-based fair value for China Dongxiang Group Co Ltd is HK$0.4100 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.3000.
What is the quality score of 3818?
China Dongxiang Group Co Ltd has a Quality Score of 51/100. 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 China Dongxiang Group Co Ltd (3818)?
China Dongxiang Group Co Ltd reported trailing-twelve-month revenue of about HK$1.7B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 3818?
The net profit margin of China Dongxiang Group Co Ltd is about -9.2%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does China Dongxiang Group Co Ltd pay a dividend?
China Dongxiang Group Co Ltd currently shows a dividend yield of about 3.28% relative to its recent price (as of Aug 13, 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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