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Quzhou Xin'an Development Co (600208) Fair Value & Analysis

Real Estate · CN · Market cap 25.1B CNY

QX Quzhou Xin'an Development Co 600208 · SHG
Price¥3.09
Fair Value¥0.5200
Upside-83.2%
Quality45/100
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Weak Growth
Thin margins · 4.4% net margin
Low debt · generates free cash flow
Trails peers (0/12)
Narrow moat 15/100
Evidence: High Range ¥0.3900 – ¥0.6500 Share as image

Fair value as of: Aug 7, 2026

From 6 valuation models · updated 3 days ago

Share price +9.2% over the past month.

Below-average quality, and screening another 83% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥0.6500). The favourable scenario is already priced in.
  • 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)

¥5.54 ¥1.57 Fair Value ¥0.5200 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 ¥1.57 – ¥5.54 · fair‑value band ¥0.3900 – ¥0.6500 · the ¥3.09 price screens above the ¥0.5200 fair value. Dashed = 300-day average. As of Aug 7, 2026.

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Analysis

Quzhou Xin'an Development Co (600208) currently trades at ¥3.09, while our model-based Fair Value estimate is ¥0.5200, implying the stock looks roughly 83.2% 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: high).

Over the trailing twelve months, Quzhou Xin'an Development Co generated revenue of 3.4B CNY at a net margin of 4.4%. Revenue declined 50.5% year over year. It earns a return on equity of 0.1%. Net debt stands at 15.6B CNY. Fundamentals as of Aug 7, 2026

Our scenario range runs from ¥0.3900 (bear case) to ¥0.6500 (bull case); at ¥3.09, 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 49% below its 52-week high and 21% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at -83%, 600208 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
Residual Income ¥3.30 ¥3.09 ¥2.18 76
Gordon GGM ¥2.00 ¥4.16 ¥6.60 70
DDM Multi-Stage ¥2.00 ¥3.28 ¥4.36 61
All 6 models by family
Dividend Discount
Gordon GGM ¥2.00 ¥4.16 ¥6.60 70
DDM Multi-Stage ¥2.00 ¥3.28 ¥4.36 61
Multiples
P/S Multiple ¥0.3900 ¥0.5200 ¥0.6500 58
P/B Multiple ¥0.3900 ¥0.5200 ¥0.6500 55
Asset-Based
NCAV (Graham) ¥2.43 ¥3.25 ¥4.86 50
Economic Profit
Residual Income ¥3.30 ¥3.09 ¥2.18 76

Widest divergence: Dividend Discount (¥3.28) versus Multiples (¥0.5200). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 3.4B CNY
Revenue growth (YoY) -50.5%
Net margin 4.4%
Return on equity 0.1%
Free cash flow 110M CNY FY2025
P/E ratio 147.5
More key figures
Operating margin -54.8%
EPS (TTM) ¥0.0200
EPS growth (YoY) -26.0%
Net debt 15.6B CNY FY2025

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 46 · Market factors (momentum, volatility) 21

Profitability 15
Margins and returns on capital today
Quality Growth 29
Are margins and returns improving?
Cashflow 32
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 7
Price trend over the last 3–12 months (market factor)
52W Momentum 12
Distance to the 52-week high (market factor)
Net Issuance 78
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

Quzhou Xin'an Development Co., Ltd. engages in the real estate development, and financial service businesses in China. The company is also involved in technology investment business. It also develops commercial housing projects. The company was formerly known as Xinhu Zhongbao Co.,Ltd. and changed its name to Quzhou Xin'an Development Co., Ltd.

Full company description

Quzhou Xin'an Development Co., Ltd. engages in the real estate development, and financial service businesses in China. The company is also involved in technology investment business. It also develops commercial housing projects. The company was formerly known as Xinhu Zhongbao Co.,Ltd. and changed its name to Quzhou Xin'an Development Co., Ltd. in August 2023. Quzhou Xin'an Development Co., Ltd. was founded in 1993 and is based in Hangzhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Quzhou Xin'an Development Co reported revenue of ¥3.6B in FY2025 versus ¥16.9B in FY2021, a compound −32.1%/yr. Reported net income was ¥261M in FY2025, compounding −41.5%/yr from FY2021.

Growth Quality 32/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
3.6B CNY
Latest YoY
−78.2%
Avg. growth/yr (3Y)
−34.7%
Avg. growth/yr (5Y)
−23.6%
Avg. growth/yr (29Y)
+11.0%
Revenue −32.1%/yr
FY21 ¥16.9B
FY22 ¥12.9B
FY23 ¥17.2B
FY24 ¥16.5B
FY25 ¥3.6B
Net income −41.5%/yr
FY21 ¥2.2B
FY22 ¥1.9B
FY23 ¥1.6B
FY24 ¥1.0B
FY25 ¥261M

600208 screens 83% overvalued. Compare with DLF Limited →

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Cite: Fair Value Calculator (2026). "Quzhou Xin'an Development Co Fair Value". https://www.fairvalue-calculator.com/stock/600208

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 47 · Below median
Fair Value upside −83% · Bottom 25%
Return on equity (TTM) 0% · Below median
Return on assets -0% · Below median
Net margin (TTM) 4% · Below median
Operating margin (TTM) -55% · Bottom 25%
Revenue growth -51% · Bottom 25%
Debt / equity 0.31× · Higher than median

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

P/E (TTM) 147.5× · Pricier than 75% of peers
P/B 0.61× · Pricier than median
P/S (TTM) 7.35× · Pricier than 75% of peers
P/FCF 33.7× · Pricier 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 0 · sector 48
FUTURE 0 · sector 0
PAST 0 · sector 10
HEALTH 84 · sector 84
DIVIDEND 0 · sector 38

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

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 Quzhou Xin'an Development Co (600208) overvalued or undervalued?
As of Aug 7, 2026, our model estimates a fair value of ¥0.5200 versus a price of ¥3.09, about −83% (overvalued).
What is the fair value of 600208?
Our model-based fair value for Quzhou Xin'an Development Co is ¥0.5200 (as of Aug 7, 2026), built from audited fundamentals. The current price is ¥3.09.
What is the quality score of 600208?
Quzhou Xin'an Development Co 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 Quzhou Xin'an Development Co (600208)?
Quzhou Xin'an Development Co reported trailing-twelve-month revenue of about 3.4B CNY (latest available figure, as of Aug 7, 2026).
What is the net profit margin of 600208?
The net profit margin of Quzhou Xin'an Development Co is about 4.4%, meaning it keeps roughly 4.4% of revenue as net income. 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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