Chian Hsing Forging Industrial Co Ltd (4528) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Chian Hsing Forging Industrial Co Ltd TWD 24.00, price TWD 14.95, upside +60.5%, quality 53 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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Chian Hsing Forging Industrial Co Ltd
4528 · TWOClearly undervaluedStrong Fair Value upside, but quality is only moderate.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 14.80 TWD – 41.73 TWD · fair‑value band 16.35 TWD – 31.66 TWD · the 14.95 TWD price screens below the 24.00 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Company profile
Chian Hsing Forging Industrial Co., Ltd. engages in the manufacture and sale of various forged products in Taiwan. Its forged products include hardware, bicycle, motorbike, automobile, and track vehicle parts, as well as industrial engineering vehicle components and other products.
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Chian Hsing Forging Industrial Co., Ltd. engages in the manufacture and sale of various forged products in Taiwan. Its forged products include hardware, bicycle, motorbike, automobile, and track vehicle parts, as well as industrial engineering vehicle components and other products. The company provides auto parts comprising driving element of front wheel, and C.V. joint of front wheel; yoke cross; mandril, rear axis, core axis of the generator, and air conditioning belt pulley; cross; bearing cup, piston, and housing; pinion, gear wheel, core shaft, and output input shaft; bevel gear; magnetic pole and driving gear; transmission bearing spang, transmission joint, and gears; big-sized parts; transmission parts; flang outer race; ammonia can; and aluminum alloy forging parts. It also offers assorted hardware parts, including impactors, saddles, pneumatic tooling, tone hole parts, disc knife, and rod couplings, as well as parts of sports goods, which include cranks, high-pressure joints, high-tension bolts/nuts, alloy bearing forgings, and tube forgings. In addition, the company provides motorcycle parts, such as gear shafts, gear blanks, start gears, transmission shafts, and ammonia cans for auto air-conditioners; starting gear and clutch gear forged work products; shaft and axle parts; and clutches, tube yokes, and chain gears. Further, it provides rail parts, such as tie plates, as well as bicycle parts, such as gear wheels. The company was formerly known as Hsieh Hsing Iron Factory and changed its name to Chian Hsing Forging Industrial Co., Ltd. in 1980. Chian Hsing Forging Industrial Co., Ltd. was founded in 1971 and is based in Taichung, Taiwan.
Stock analysis
Chian Hsing Forging Industrial Co Ltd (4528) currently trades at 14.95 TWD, while our model-based Fair Value estimate is 24.00 TWD, implying the stock looks roughly 37.7% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 26.95 TWD per share, and 8 of the 16 models we run sit above the 14.95 TWD price.
Bear case: the Multiples group reads lowest at 2.65 TWD, and 8 of the 16 models stay below the price. Evidence for this calculation is low.
Scenario range: 16.35 TWD (bear) to 31.66 TWD (bull), the price of 14.95 TWD sits below 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 53/100 (solid quality), in the Consumer Cyclical sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Chian Hsing Forging Industrial Co Ltd reported revenue of 1.6B TWD in FY2025 versus 2.5B TWD in FY2021, a compound −11.1%/yr. Reported net income was −25.7M TWD in FY2025.
Key figures
Market cap 1.3B TWD (≈ $39.5M) · P/S ratio 0.83 · EPS (TTM) −0.3100 TWD · Dividend yield 1.3% · Net margin −1.6% · Return on equity −1.4% · Return on assets (EBIT) 2.0% · Operating margin −3.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (medium confidence).
What moves the price
The share trades about 30% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −19% fair-value upside, at 61%, 4528 screens cheaper than that median.
Fair Value models
All 16 models by family
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Set up alert →Quality Score breakdown
Of which business quality 53 · Market factors (momentum, volatility) 35
Revenue & earnings trend
Growth Forecast
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Compare Chian Hsing Forging Industrial Co Ltd with another stock
Price, fair value, quality and upside side by side.
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.Auto Parts · 692 stocks
Valuation Multiplesvs Auto Parts median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Consumer Discretionary sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Taiwanese Stocks
- Valuation of the Taiwan market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Auto Parts stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| O'Reilly Automotive, Inc ORLY | $85.90 | $48.08 | −44% |
| AutoZone, Inc AZO | $2,843 | $2,368 | −17% |
| Hyundai Mobis Co 012330 | 367,500 KRW | 631,641 KRW | +72% |
| Fuyao Glass Industry Group 600660 | ¥53.77 | ¥75.79 | +41% |
| Magna International Inc MGA | $63.73 | $68.17 | +7% |
| Samvardhana Motherson International Limited MOTHERSON | ₹164.40 | ₹96.97 | −41% |
| Ningbo Tuopu Group 601689 | ¥45.71 | ¥28.28 | −38% |
| Bosch Limited BOSCHLTD | ₹47,955 | ₹25,325 | −47% |
| Bharat Forge Limited BHARATFORG | ₹2,004 | ₹407.35 | −80% |
| Huizhou Desay SV Automotive Co 002920 | ¥84.71 | ¥68.21 | −19% |
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Key figures of Chian Hsing Forging Industrial Co Ltd
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