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Data-driven stock valuation

Lucky Film Co Ltd (600135) fair value: what the stock is really worth

As of Oct 30, 2026: fair value (intrinsic value) of Lucky Film Co Ltd stock ¥3.74, price ¥6.60, upside -43.3%, quality 48 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

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Basic Materials CN · ISIN CNE000000V63

LF Lucky Film Co Ltd logo Thin data Oct 30, 2026

Lucky Film Co Ltd

600135 · SHG
Very expensive, weak quality

Our calculation puts a fair price 43% below what the stock costs today.

Revenue last quarter +19% vs. a year ago.
Quality 48/100
Fair value ¥3.74 · Strongly overvalued (−43.3%)
Weak Growth (revenue 5y −8.5 %/yr in CNY)
Loss-making · -5.5% net margin (TTM)
Negative free cash flow
Trails peers (1/10)
Narrow moat 18/100
Thin data
⟳ Cyclical
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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

¥12.72 ¥4.35 Fair Value ¥3.74 May 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year. As of Oct 30, 2026.

How to read this chart

60‑month range ¥4.35 – ¥12.72 · fair‑value band ¥2.46 – ¥4.66 · the ¥6.60 price screens above the ¥3.74 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 30, 2026.

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Company profile

Lucky Film Company Limited, together with its subsidiaries, engages in the research, development, production, sale, and servicing of new membrane materials for imaging, medical, and optoelectronic applications in China and internationally.

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The company offers color photographic papers, including silver halide color, printing, and inkjet papers; chemicals for information imaging materials processing; photo films and NDT films; new energy battery materials, such as lithium-ion battery separators and aluminum-plastic films; color films, industrial flaw detection films, and TAC films; adhesives; separation membranes; microfilms; and other products.

It also provides fluoro and non-fluoro solar back sheets; and pharmaceutical cold-forming alu-alu foils, medical blue and green x-ray films, medical dry printers, and medical dry films.

The company's products are used in photovoltaic power generation equipment, medical testing, industrial equipment testing, consumer electronics, optoelectronic displays, water treatment, imaging, and storage applications.

Lucky Film Company Limited was incorporated in 1998 and is headquartered in Baoding, China.

Stock analysis

Lucky Film Co Ltd (600135) currently trades at ¥6.60, while our model-based Fair Value estimate is ¥3.74, 43.3% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 80/100, which puts the data coverage at low.

Scenario range: ¥2.46 (bear) to ¥4.66 (bull), the price of ¥6.60 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 48/100 (below-average quality), in the Basic Materials sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Lucky Film Co Ltd reported revenue of 1.3B CNY in FY2025 versus 2.2B CNY in FY2021, a compound −12.4%/yr. Reported net income was −98.7M CNY in FY2025.

Key figures

Market cap 3.7B CNY (≈ $549M) Small · P/S ratio 2.68 · EPS (TTM) ¥−0.1400 · Dividend yield 0.0% · Net margin −5.5% · Return on equity −2.4% · Return on assets (EBIT) −0.5% · Operating margin −2.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 18 out of 100 (medium confidence).

What moves the price

The share trades about 48% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −36% fair-value upside, at −43%, 600135 screens richer than that median.

Fair Value models

Bear ¥2.46 Fair Value ¥3.74 Bull ¥4.66
Price ¥6.60 · Upside -43.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
NCAV (Graham) ¥1.23 ¥1.87 ¥2.33 52
All 1 models by family
Asset-Based
NCAV (Graham) ¥1.23 ¥1.87 ¥2.33 52

Open the full fair value analysis →

Quality Score breakdown

Overall quality 48/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 8
How much profit the company makes from its sales and capital
Quality Growth 23
Are margins and returns getting better?
Cashflow 11
Do the profits arrive as real cash?
Financial strength 100
Debt, balance sheet and risk of trouble
Investment 84
Does it invest with discipline instead of growing at any price?
Low Volatility 59
How calm the share price moves, does not count
Momentum 28
Price trend of the last 3 to 12 months, does not count
Near the 52-week high 13
Distance to the 52-week high, does not count
New shares 82
Buys back shares or issues new ones?

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
−11.5%
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.
−15.5%
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.
−8.5%
Start year 2020 (pandemic). Over 10 years: +1.1% a year
Revenue growth 31 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.
+4.2%
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.
2.6% (2020) → −8.8% (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

600135 screens overvalued: fair value 43% below the price. Compare with BASF SE →

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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.Chemicals · 345 stocks

Beats the industry median on 1/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 48 · Below median
Fair Value upside −43.4% · Below median
Profitability
Return on assets −3.0% · Bottom 25%
Net margin (12 months) −5.5% · Bottom 25%
Operating margin (12 months) −2.5% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 18.9% · Above median
Dividend yield (12 months) 0.0% · Bottom 25%

Valuation Multiplesvs Chemicals median · lower = cheaper

P/B 1.54× · Pricier than median
P/S (12 months) 2.58× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 8
FUTURE (revenue growth)95 · sector 64
PAST (return on equity)0 · sector 24
HEALTH (low debt)0 · sector 94
DIVIDEND (yield)1 · sector 33

VALUE 0: the price sits above our fair-value range.

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 Chemicals stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Hengli Petrochemical Co 600346 ¥15.74 ¥43.28 +175% vs 600135
LG Chem, Ltd 051910 228,500 KRW 587,755 KRW +157% vs 600135
Ningxia Baofeng Energy Group 600989 ¥22.13 ¥40.44 +83% vs 600135
Zangge Mining Company 000408 ¥69.00 ¥75.90 +10% vs 600135
Zhejiang Juhua Co 600160 ¥30.18 ¥19.31 −36% vs 600135
Dow Inc DOW $33.78 $20.94 −38% vs 600135
BASF SE BAS €52.84 €24.40 −54% vs 600135
Jiangsu Eastern Shenghong Co 000301 ¥11.88 ¥3.14 −74% vs 600135
Formosa Chemicals & Fibre Corporation 1326 74.40 TWD 17.66 TWD −76% vs 600135
Rongsheng Petrochemical Co 002493 ¥11.95 ¥2.39 −80% vs 600135

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Lucky Film Co Ltd · Fair Value
¥3.74 −43%Fair Value
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Cite: Fair Value Calculator (2026). "Lucky Film Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/600135

Frequently asked questions

Is Lucky Film Co Ltd (600135) overvalued or undervalued?
As of Oct 30, 2026, our model estimates a fair value of ¥3.74 versus a price of ¥6.60, about −43% upside (overvalued).
What is the fair value of 600135?
Our model-based fair value for Lucky Film Co Ltd is ¥3.74 (as of Oct 30, 2026), built from audited fundamentals. The current price: ¥6.60.
What is the quality score of 600135?
Lucky Film Co Ltd has a Quality Score of 48/100. 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 Lucky Film Co Ltd (600135)?
Our model-based price target is the fair value of ¥3.74 (as of Oct 30, 2026) from 1 valuation models. Cautious scenario ¥2.46, optimistic scenario ¥4.66. It is a calculation from audited fundamentals, not an analyst target.
What is the Lucky Film Co Ltd stock forecast for 2026?
Our models put fair value at ¥3.74, about −43% upside versus a price of ¥6.60 (overvalued). Cautious scenario ¥2.46, optimistic scenario ¥4.66. The calculation is refreshed regularly with new filings.
What is the revenue of Lucky Film Co Ltd (600135)?
Lucky Film Co Ltd reported trailing-twelve-month revenue of about 1.4B CNY (latest available figure, as of Oct 30, 2026).
Does Lucky Film Co Ltd pay a dividend?
Lucky Film Co Ltd currently shows a dividend yield of 0.03% relative to its recent price (as of Oct 30, 2026).
What is the intrinsic value of Lucky Film Co Ltd (600135)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Lucky Film Co Ltd it is ¥3.74 per share (as of Oct 30, 2026), against a price of ¥6.60. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Lucky Film Co Ltd stock overvalued or undervalued in 2026?
As of Oct 30, 2026, 600135 trades above its calculated fair value: price ¥6.60, fair value ¥3.74, a gap of about −43% (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 600135?
No. The price is what the market pays today (¥6.60); the fair value is what the company's own numbers justify (¥3.74). For Lucky Film Co Ltd the two are ¥2.86 per share apart. That gap is exactly why we show both numbers side by side.
How much is Lucky Film Co Ltd worth?
The market values Lucky Film Co Ltd at about 3.7B CNY (market capitalisation, as of Oct 30, 2026). Per share that is ¥6.60; our models calculate a fair value of ¥3.74 per share.
What do the bullish and bearish scenarios say about 600135?
Our models span a range for Lucky Film Co Ltd: cautious scenario ¥2.46, base ¥3.74, optimistic ¥4.66 per share (as of Oct 30, 2026, price ¥6.60). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Lucky Film Co Ltd (600135)?
Balance-sheet figures for Lucky Film Co Ltd (as of Oct 30, 2026): return on equity −2.4%. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is 600135 from its 52-week high?
Lucky Film Co Ltd trades at ¥6.60, about 48% below its 52-week high of ¥12.72 and 2% above the low of ¥6.49 (as of Oct 30, 2026). Distance from the high says nothing about value: that is what the fair value of ¥3.74 is for.
Which stocks are comparable to Lucky Film Co Ltd?
From the same area (Basic Materials) we also value BASF SE, Dow Inc, Ningxia Baofeng Energy Group, Rongsheng Petrochemical Co, 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 Lucky Film Co Ltd stock attractive at the current price?
The data as of Oct 30, 2026: price ¥6.60, calculated fair value ¥3.74 (−43%), Quality Score 48/100, from 1 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 600135 calculated?
We run Lucky Film Co Ltd through 1 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 ¥3.74, 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 13.4 % above its aggregate fair value. Lucky Film Co Ltd 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 Lucky Film Co Ltd (600135)?
The closing price on Oct 30, 2026 was ¥6.60. Our model-based fair value is ¥3.74, about −43% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Lucky Film Co Ltd right now?
The price sits above even our optimistic bull case (¥4.66). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (¥2.46 to ¥4.66) leaves room in how you read the outcome.

Key figures of Lucky Film Co Ltd

How large is the market capitalisation of Lucky Film Co Ltd (600135)?
The market capitalisation of Lucky Film Co Ltd is 3.7B CNY (≈ $549M). 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 Lucky Film Co Ltd (600135)?
The price-to-sales ratio of Lucky Film Co Ltd is 2.68 (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 Lucky Film Co Ltd (600135)?
Earnings per share at Lucky Film Co Ltd are ¥−0.1400. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Lucky Film Co Ltd (600135)?
The dividend yield of Lucky Film Co Ltd is 0.0%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Lucky Film Co Ltd (600135)?
The net margin of Lucky Film Co Ltd is −5.5% (last twelve months). 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 Lucky Film Co Ltd (600135)?
The return on equity (ROE) of Lucky Film Co Ltd is −2.4% (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 Lucky Film Co Ltd (600135)?
On an EBIT basis the return on assets of Lucky Film Co Ltd is −0.5% (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 Lucky Film Co Ltd (600135)?
The operating margin of Lucky Film Co Ltd is −2.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Lucky Film Co Ltd (600135)?
Revenue at Lucky Film Co Ltd is growing +18.9% versus a year earlier (3y avg −15.5%). 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 Lucky Film Co Ltd (600135)?
Earnings per share at Lucky Film Co Ltd are growing −73.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Lucky Film Co Ltd (600135) generate?
The free cash flow of Lucky Film Co Ltd is −60.4M 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 cash does Lucky Film Co Ltd (600135) hold?
Lucky Film Co Ltd holds more cash than debt, 1.1B CNY net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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