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Zhuhai Zhumian Group (600185) Fair Value & Analysis

Real Estate · CN · Market cap 8.9B CNY

ZZ Zhuhai Zhumian Group 600185 · SHG
Price¥4.70
Fair Value¥2.20
Upside-53.2%
Quality45/100
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Mixed Growth
Loss-making · -28.3% net margin
High debt · generates free cash flow
Trails peers (4/12)
Narrow moat 32/100
Evidence: Medium Range ¥0.7600 – ¥3.64 Share as image

Fair value as of: Aug 7, 2026

From 9 valuation models · updated 3 days ago

Share price +6.8% over the past month.

Below-average quality, and screening another 53% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥3.64). The favourable scenario is already priced in.
  • The model range is unusually wide (¥0.7600 to ¥3.64). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (45/100) and above fair value, neither a clear bargain nor a standout compounder.
  • 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)

¥12.69 ¥4.21 Fair Value ¥2.20 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 7, 2026.

How to read this chart

60‑month range ¥4.21 – ¥12.69 · fair‑value band ¥0.7600 – ¥3.64 · the ¥4.70 price screens above the ¥2.20 fair value. Dashed = 300-day average. As of Aug 7, 2026.

Full chart & analysis →

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Analysis

Zhuhai Zhumian Group (600185) currently trades at ¥4.70, while our model-based Fair Value estimate is ¥2.20, implying the stock looks roughly 53.2% overvalued today. The Quality Score stands at 45/100 (below-average quality), in the Real Estate 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: medium).

Over the trailing twelve months, Zhuhai Zhumian Group generated revenue of 3.2B CNY at a net margin of -28.3%. Revenue declined 23.4% year over year. It earns a return on equity of -15.7%. Net debt stands at 4.9B CNY. Fundamentals as of Aug 7, 2026

Our scenario range runs from ¥0.7600 (bear case) to ¥3.64 (bull case); at ¥4.70, 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 43% below its 52-week high, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at -53%, 600185 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.

Model BearBaseBull Evidence
Highest evidence
Growth DCF ¥5.16 ¥9.98 ¥18.59 80
Rev-Margin DCF ¥4.09 ¥7.58 ¥12.67 74
Gordon GGM ¥3.17 ¥6.33 ¥9.58 70
All 9 models by family
DCF Models
FCF DCF ¥5.38 ¥9.11 ¥18.99 38
5Y Revenue Exit ¥4.09 ¥7.42 ¥13.04 39
10Y Revenue Exit ¥4.34 ¥8.13 ¥13.25 36
Dividend Discount
Gordon GGM ¥3.17 ¥6.33 ¥9.58 70
DDM Multi-Stage ¥3.17 ¥5.47 ¥6.68 61
Multiples
EV/Revenue ¥3.43 ¥4.87 ¥6.31 43
Asset-Based
NCAV (Graham) ¥0.3100 ¥0.4100 ¥0.6200 50
Growth DCF
Growth DCF ¥5.16 ¥9.98 ¥18.59 80
Rev-Margin DCF ¥4.09 ¥7.58 ¥12.67 74

Widest divergence: DCF Models (¥8.13) versus Asset-Based (¥0.4100). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 3.2B CNY
Revenue growth (YoY) -23.4%
Net margin -28.3%
Return on equity -15.7%
Free cash flow 696M CNY FY2024
Operating margin 36.1%
More key figures
EPS (TTM) ¥-0.4800
EPS growth (YoY) -85.7%
Net debt 4.9B CNY FY2024

Figures from reported company fundamentals · as of Aug 7, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 45/100

Of which business quality 44 · Market factors (momentum, volatility) 29

Profitability 4
Margins and returns on capital today
Quality Growth 10
Are margins and returns improving?
Cashflow 70
Earnings quality: real cash, not paper profit
Fin. Strength 29
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 78
Calm price path (market factor)
Momentum 8
Price trend over the last 3–12 months (market factor)
52W Momentum 9
Distance to the 52-week high (market factor)
Net Issuance 75
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

Zhuhai Zhumian Group Co., Ltd. engages in the real estate business in China. It also involved in the duty-free goods sales, consumer goods, biomedicine, and other business. The company was formerly known as Gree Real Estate Co.,Ltd and changed its name to Zhuhai Zhumian Group Co., Ltd. in April 2025. Zhuhai Zhumian Group Co., Ltd.

Full company description

Zhuhai Zhumian Group Co., Ltd. engages in the real estate business in China. It also involved in the duty-free goods sales, consumer goods, biomedicine, and other business. The company was formerly known as Gree Real Estate Co.,Ltd and changed its name to Zhuhai Zhumian Group Co., Ltd. in April 2025. Zhuhai Zhumian Group Co., Ltd. was founded in 1999 and is based in Zhuhai, China.

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

Revenue & earnings trend

FY2020 – FY2024 · reported fiscal years

Zhuhai Zhumian Group reported revenue of ¥5.3B in FY2024 versus ¥6.4B in FY2020, a compound −4.7%/yr. Reported net income was −¥1.5B in FY2024.

Growth Quality 31/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2024)
5.3B CNY
Latest YoY
−24.6%
Avg. growth/yr (3Y)
−9.6%
Avg. growth/yr (5Y)
+4.7%
Avg. growth/yr (28Y)
+11.9%
Revenue −4.7%/yr
FY20 ¥6.4B
FY21 ¥7.1B
FY22 ¥4.0B
FY23 ¥7.0B
FY24 ¥5.3B
Net income
FY20 ¥559M
FY21 ¥460M
FY22 −¥2.1B
FY23 −¥390M
FY24 −¥1.5B

600185 screens 53% overvalued. Compare with DLF Limited →

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Cite: Fair Value Calculator (2026). "Zhuhai Zhumian Group Fair Value". https://www.fairvalue-calculator.com/stock/600185

Peer Group

Real Estate - Development · 588 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 46 · Below median
Fair Value upside −53% · Bottom 25%
Return on assets 1% · Above median
Net margin (TTM) -28% · Bottom 25%
Operating margin (TTM) 36% · Top 25%
Revenue growth -23% · Below median
Debt / equity 4.24× · Higher than 75% of peers

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/B 1.14× · Pricier than 75% of peers
P/S (TTM) 0.42× · Cheaper than median
P/FCF 1.9× · Pricier than median
EV/EBITDA 2.8× · Cheaper than 75% of peers

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 - Development stocks, each showing price versus our Fair Value estimate (as of Aug 7, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹657.75 ₹159.49 -76%
Lodha Developers Limited LODHA ₹1,188 ₹583.43 -51%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,125 IDR 1,330 IDR -78%
Oberoi Realty Limited OBEROIRLTY ₹1,925 ₹1,183 -39%
Godrej Properties Limited GODREJPROP ₹2,102 ₹1,044 -50%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 555.00 IDR 1,388 IDR +150%
PT Sentul City Tbk, BKSL 64.00 IDR 84.16 IDR +32%
PT Ciputra Development Tbk, CTRA 555.00 IDR 1,388 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,100 IDR 6,239 IDR +52%

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Frequently asked questions

Is Zhuhai Zhumian Group (600185) overvalued or undervalued?
As of Aug 7, 2026, our model estimates a fair value of ¥2.20 versus a price of ¥4.70, about −53% (overvalued).
What is the fair value of 600185?
Our model-based fair value for Zhuhai Zhumian Group is ¥2.20 (as of Aug 7, 2026), built from audited fundamentals. The current price is ¥4.70.
What is the quality score of 600185?
Zhuhai Zhumian Group has a Quality Score of 45/100. 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 Zhuhai Zhumian Group (600185)?
Zhuhai Zhumian Group reported trailing-twelve-month revenue of about 3.2B CNY (latest available figure, as of Aug 7, 2026).
What is the net profit margin of 600185?
The net profit margin of Zhuhai Zhumian Group is about -28.3%, 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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