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Zhejiang China Commodities City Group (600415) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 62.0B CNY

ZC Zhejiang China Commodities City Group 600415 · SHG
Price¥12.23
Fair Value¥13.03
Upside+6.5%
Quality58/100
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Healthy Growth
Highly profitable · 20.6% net margin
Low debt · generates free cash flow
Ranks above peers (9/13)
Wide moat 70/100
Evidence: High Range ¥9.77 – ¥33.13 Share as image

Fair value as of: Jul 25, 2026

From 24 valuation models · updated 13 days ago

Share price +19.3% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The model range is unusually wide (¥9.77 to ¥33.13). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
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Price vs Fair Value (5 years)

¥23.02 ¥4.14 Fair Value ¥13.03 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 25, 2026.

How to read this chart

60‑month range ¥4.14 – ¥23.02 · fair‑value band ¥9.77 – ¥33.13 · the ¥12.23 price screens below the ¥13.03 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 25, 2026.

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Analysis

Zhejiang China Commodities City Group (600415) currently trades at ¥12.23, while our model-based Fair Value estimate is ¥13.03, implying the stock looks roughly 6.5% fairly valued today. We read business quality at 58/100 (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: high), always confirm before acting.

Over the trailing twelve months, Zhejiang China Commodities City Group generated revenue of 21.4B CNY at a net margin of 20.6%. Revenue grew 45.3% year over year. It earns a return on equity of 19.4%. The balance sheet holds a net cash position of 4.7B CNY. Fundamentals as of Jul 25, 2026

Our scenario range runs from ¥9.77 (bear case) to ¥33.13 (bull case); at ¥12.23, 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 48% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -20% fair-value upside, at 7%, 600415 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 BearBaseBull Evidence
Highest evidence
Growth DCF ¥23.88 ¥45.47 ¥87.37 80
Residual Income ¥5.07 ¥6.71 ¥24.99 76
Rev-Margin DCF ¥12.30 ¥21.00 ¥34.04 74
All 24 models by family
DCF Models
FCF DCF ¥25.11 ¥40.96 ¥87.75 38
Owner Earnings ¥8.88 ¥19.38 ¥41.42 31
5Y Revenue Exit ¥12.30 ¥19.32 ¥32.75 39
5Y EBITDA Exit ¥14.69 ¥24.44 ¥42.19 41
5Y P/E Exit ¥15.64 ¥29.29 ¥46.61 38
10Y Revenue Exit ¥15.73 ¥26.75 ¥37.16 36
10Y EBITDA Exit ¥17.69 ¥31.38 ¥55.24 37
10Y P/E Exit ¥18.37 ¥33.23 ¥58.05 35
Earnings-Based
Graham-Dodd ¥5.21 ¥36.35 ¥51.02 54
Lynch FV ¥11.25 ¥16.07 ¥20.89 50
PEG = 1.0 ¥11.25 ¥16.07 ¥20.89 46
EPV ¥7.45 ¥8.58 ¥9.57 59
Multiples
P/E Multiple ¥11.50 ¥15.33 ¥19.16 63
P/S Multiple ¥6.81 ¥9.08 ¥11.36 58
P/B Multiple ¥9.42 ¥12.55 ¥15.69 55
EV/EBIT ¥12.62 ¥16.61 ¥20.61 53
EV/EBITDA ¥10.82 ¥14.20 ¥17.59 54
EV/Revenue ¥7.01 ¥9.73 ¥12.46 43
Asset-Based
NCAV (Graham) ¥2.09 ¥2.80 ¥4.18 50
Growth DCF
Growth DCF ¥23.88 ¥45.47 ¥87.37 80
Rev-Margin DCF ¥12.30 ¥21.00 ¥34.04 74
Economic Profit
Residual Income ¥5.07 ¥6.71 ¥24.99 76
ROIC Compounder ¥9.22 ¥13.43 ¥18.19 72
Growth Earnings
Growth-Adj P/E ¥14.87 ¥21.24 ¥27.61 68

Widest divergence: DCF Models (¥26.75) versus Asset-Based (¥2.80). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 21.4B CNY
Revenue growth (YoY) +45.3%
Net margin 20.6%
Return on equity 19.4%
Free cash flow 8.3B CNY FY2025
P/E ratio 14.1
More key figures
Operating margin 26.3%
EPS (TTM) ¥0.8000
EPS growth (YoY) +20.0%
Net cash 4.7B CNY FY2024

Figures from reported company fundamentals · as of Jul 25, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 72 · Market factors (momentum, volatility) 31

Profitability 54
Margins and returns on capital today
Quality Growth 77
Are margins and returns improving?
Cashflow 94
Earnings quality: real cash, not paper profit
Fin. Strength 80
Balance sheet, leverage, solvency risk
Investment 40
Disciplined investing over empire-building
Low Volatility 70
Calm price path (market factor)
Momentum 19
Price trend over the last 3–12 months (market factor)
52W Momentum 6
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

Zhejiang China Commodities City Group Co., Ltd., through its subsidiaries, develops, manages, and operates an online trading platform service in China.

Full company description

Zhejiang China Commodities City Group Co., Ltd., through its subsidiaries, develops, manages, and operates an online trading platform service in China. It offers a commodity display and trading ecosystem, including market operation, and self-operated trade; market support service ecosystem covering exhibitions and hotels; and trade fulfillment service ecosystem comprising Chinagoods online service platform, brand overseas services, warehousing and logistics, payment, credit investigation, factoring, and other businesses. The company was founded in 1993 and is based in Yiwu, China. Zhejiang China Commodities City Group Co., Ltd. operates as a subsidiary of Yiwu China Commodities City Holdings Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Zhejiang China Commodities City Group reported revenue of ¥19.9B in FY2025 versus ¥6.0B in FY2021, a compound +34.8%/yr. Reported net income was ¥4.2B in FY2025, compounding +33.2%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
19.9B CNY
Latest YoY
+26.6%
Avg. growth/yr (3Y)
+37.8%
Avg. growth/yr (5Y)
+39.8%
Avg. growth/yr (26Y)
+18.0%
Revenue +34.8%/yr
FY21 ¥6.0B
FY22 ¥7.6B
FY23 ¥11.3B
FY24 ¥15.7B
FY25 ¥19.9B
Net income +33.2%/yr
FY21 ¥1.3B
FY22 ¥1.1B
FY23 ¥2.7B
FY24 ¥3.1B
FY25 ¥4.2B

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Cite: Fair Value Calculator (2026). "Zhejiang China Commodities City Group Fair Value". https://www.fairvalue-calculator.com/stock/600415

Peer Group

Footwear & Accessories · 94 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 58 · Top 25%
Fair Value upside +7% · Above median
Return on equity (TTM) 19% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 21% · Top 25%
Operating margin (TTM) 26% · Top 25%
Revenue growth 45% · Top 25%
Debt / equity 0.14× · Higher than median

Valuation Multiples vs Footwear & Accessories median · lower = cheaper

P/E (TTM) 14.1× · Cheaper than median
P/B 2.70× · Pricier than 75% of peers
P/S (TTM) 2.90× · Pricier than 75% of peers
P/FCF 1.1× · Cheaper than median
EV/EBITDA 10.0× · Pricier 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 42 · sector 12
FUTURE 100 · sector 0
PAST 78 · sector 23
HEALTH 93 · sector 97
DIVIDEND 0 · sector 40

Insider activity: 30/100

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 Footwear & Accessories stocks, each showing price versus our Fair Value estimate (as of Jul 25, 2026).

Stock Price Fair Value vs Fair Value
NIKE, Inc NKE $44.37 $35.63 -20%
adidas AG 1ADS €184.40 €81.86 -56%
Deckers Outdoor Corporation DECK $106.49 $125.16 +18%
On Holding ONON $38.20 $17.64 -54%
Birkenstock Holding BIRK $44.36 $44.14 -0%
Crocs, Inc CROX $138.91 $203.65 +47%
Huali Industrial Group 300979 ¥31.10 ¥54.71 +76%
PUMA SE PUM €29.31 €10.57 -64%
Steven Madden, Ltd SHOO $43.26 $11.69 -73%
Yue Yuen Industrial (Holdings) Limited 0551 HK$14.18 HK$4.04 -72%

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Frequently asked questions

Is Zhejiang China Commodities City Group (600415) overvalued or undervalued?
As of Jul 25, 2026, our model estimates a fair value of ¥13.03 versus a price of ¥12.23, about +7% (fairly valued).
What is the fair value of 600415?
Our model-based fair value for Zhejiang China Commodities City Group is ¥13.03 (as of Jul 25, 2026), built from audited fundamentals. The current price is ¥12.23.
What is the quality score of 600415?
Zhejiang China Commodities City Group has a Quality Score of 58/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Zhejiang China Commodities City Group (600415)?
Zhejiang China Commodities City Group reported trailing-twelve-month revenue of about 21.4B CNY (latest available figure, as of Jul 25, 2026).
What is the net profit margin of 600415?
The net profit margin of Zhejiang China Commodities City Group is about 20.6%, meaning it keeps roughly 20.6% 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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