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Huafang Co Ltd (600448) fair value: what the stock is really worth

As of Sep 22, 2026: fair value of Huafang Co Ltd ¥1.60, price ¥3.58, upside -55.3%, quality 42 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Consumer Cyclical · CN · ISIN CNE0000018N7

HC Thin data Sep 24, 2026

Huafang Co Ltd

600448 · SHG

Weakest SetupStrongly overvalued and low quality.

!Fair value ¥1.60 · Strongly overvalued (−55%)
!Quality 42/100
!Weak Growth (revenue 5y −1.0 %/yr)
!Loss-making · -9.9% net margin (TTM)
Low debt · generates free cash flow
!Trails peers (4/12)
!Narrow moat 11/100
!Evidence only low, so the estimate is less certain

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

¥5.27 ¥1.84 Fair Value ¥1.60 Apr 2021 Sep 2026

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 ¥1.84 – ¥5.27 · fair‑value band ¥1.19 – ¥2.05 · the ¥3.58 price screens above the ¥1.60 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Huafang Co.,Ltd engages in the printing and dyeing, clothing, textile products, spinning, thermal, chemical, information and financial services, real estate, and other fields in China and internationally. The company offers home textiles, fabrics, clothing line, bedding, fiber, printed and dyed fabrics, and blue platinum series products.

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Huafang Co.,Ltd engages in the printing and dyeing, clothing, textile products, spinning, thermal, chemical, information and financial services, real estate, and other fields in China and internationally. The company offers home textiles, fabrics, clothing line, bedding, fiber, printed and dyed fabrics, and blue platinum series products. It is also involved in the real estate; manufacturing of electrical machinery and equipment; trading activities; and provision of technology promotion and application, and software and information technology services. The company was founded in 1976 and is based in Binzhou, China.

Stock analysis

Huafang Co Ltd (600448) currently trades at ¥3.58, while our model-based Fair Value estimate is ¥1.60, implying the stock looks roughly 123.8% overvalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of ¥1.54 per share, and 0 of the 12 models we run sit above the ¥3.58 price.

Bear case: the Multiples group reads lowest at ¥0.1700, and 12 of the 12 models stay below the price. Evidence for this calculation is low.

Scenario range: ¥1.19 (bear) to ¥2.05 (bull), the price of ¥3.58 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 42/100 (below-average quality), in the Consumer Cyclical sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Huafang Co Ltd reported revenue of 2.9B CNY in FY2024 versus 3.3B CNY in FY2020, a compound −3.2%/yr. Reported net income was −55.5M CNY in FY2024.

Key figures

Market cap 2.3B CNY (≈ $337M) · P/S ratio 0.59 · EPS (TTM) ¥−0.4600 · Dividend yield 4.5% · Net margin −1.9% · Return on equity −27.2% · Return on assets (EBIT) −0.9% · Operating margin −1.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (medium confidence).

What moves the price

The share trades about 13% below its 52-week high and 27% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at −17% fair-value upside, at −55%, 600448 screens richer than that median.

Fair Value models

Bear ¥1.19 Fair Value ¥1.60 Bull ¥2.05
Model Each model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. 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. Evidence Evidence = 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.
Highest evidence
FCF DCF ¥1.19 ¥1.54 ¥1.96 82
Growth DCF ¥1.21 ¥1.52 ¥1.90 80
Owner Earnings ¥1.34 ¥1.74 ¥2.23 78
All 12 models by family
DCF Models
FCF DCF ¥1.19 ¥1.54 ¥1.96 82
Owner Earnings ¥1.34 ¥1.74 ¥2.23 78
5Y Revenue Exit ¥0.6000 ¥0.6300 ¥0.6600 74
5Y EBITDA Exit ¥1.17 ¥1.65 ¥2.17 76
10Y Revenue Exit ¥0.8400 ¥0.9200 ¥0.9900 68
10Y EBITDA Exit ¥1.17 ¥1.54 ¥1.99 69
Dividend Discount
Gordon GGM ¥0.9500 ¥1.45 ¥1.92 68
DDM Multi-Stage ¥0.9500 ¥1.32 ¥1.67 67
Multiples
EV/EBITDA ¥1.30 ¥1.68 ¥2.05 67
EV/Revenue ¥0.1700 ¥0.1700 ¥0.1800 54
Asset-Based
NCAV (Graham) ¥0.9600 ¥1.28 ¥1.91 54
Growth DCF
Growth DCF ¥1.21 ¥1.52 ¥1.90 80

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Quality Score breakdown

Overall quality 42/100

Of which business quality 40 · Market factors (momentum, volatility) 60

Profitability 18
Margins and returns on capital today
Quality Growth 34
Are margins and returns improving?
Cashflow 13
Earnings quality: real cash, not paper profit
Fin. Strength 31
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 57
Price trend over the last 3–12 months (market factor)
52W Momentum 53
Distance to the 52-week high (market factor)
Net Issuance 83
Share count: buybacks or dilution?

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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. 18/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+4.9%
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.
−6.8%
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.
−1.0%
Revenue growth 26 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.
+5.1%
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.
0.5% (2019) → −1.9% (2024)
What shareholders gained per year We only publish this rate when it is defensible. Reason: fiscal 2024 is a loss year, no rate is defined from a loss
not computed

600448 screens 124% overvalued. Compare with Shenzhou International Group →

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Peer GroupHow 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.Textile Manufacturing · 340 stocks

Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 42 · Below median
Fair Value upside −55% · Below median
Profitability
Return on assets −3% · Bottom 25%
Net margin (TTM) −10% · Bottom 25%
Operating margin (TTM) −1% · Bottom 25%
Growth and dividend
Revenue growth 0% · Above median
Dividend yield (TTM) 4.5% · Top 25%
Balance sheet
Debt / equity 0.20× · Above median

Valuation Multiplesvs Textile Manufacturing median · lower = cheaper

P/B 0.28× · Cheapest 25%
P/S (TTM) 0.12× · Cheapest 25%
P/FCF 2,532.4× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 16
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)0 · sector 15
HEALTH (low debt)90 · sector 95
DIVIDEND (yield)89 · sector 37

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 Textile Manufacturing stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Shenzhou International Group 2313 HK$34.58 HK$74.44 +115%
Tongkun Group 601233 ¥23.92 ¥14.53 −39%
Inner Mongolia ERDOS Resources Co 600295 ¥13.02 ¥14.35 +10%
K.P.R. Mill Limited KPRMILL ₹1,121 ₹934.98 −17%
Zhejiang Orient Holdings 600120 ¥4.74 ¥2.46 −48%
Albany International Corp AIN $60.22 $24.73 −59%
Vardhman Textiles Limited VTL ₹551.20 ₹291.49 −47%
Bros Eastern.,Ltd 601339 ¥7.16 ¥7.87 +10%
Ruentex Industries Ltd 2915 60.10 TWD 135.63 TWD +126%
Xinxiang Chemical Fiber Co 000949 ¥6.93 ¥2.03 −71%

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Cite: Fair Value Calculator (2026). "Huafang Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/600448

Frequently asked questions

Is Huafang Co Ltd (600448) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ¥1.60 versus a price of ¥3.58, about −55% upside (overvalued).
What is the fair value of 600448?
Our model-based fair value for Huafang Co Ltd is ¥1.60 (as of Sep 24, 2026), built from audited fundamentals. The current price: ¥3.58.
What is the quality score of 600448?
Huafang Co Ltd has a Quality Score of 42/100. 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 Huafang Co Ltd (600448)?
Our model-based price target is the fair value of ¥1.60 (as of Sep 24, 2026) from 12 valuation models. Cautious scenario ¥1.19, optimistic scenario ¥2.05. It is a calculation from audited fundamentals, not an analyst target.
What is the Huafang Co Ltd stock forecast for 2026?
Our models put fair value at ¥1.60, about −55% upside versus a price of ¥3.58 (overvalued). Cautious scenario ¥1.19, optimistic scenario ¥2.05. The calculation is refreshed regularly with new filings.
What is the revenue of Huafang Co Ltd (600448)?
Huafang Co Ltd reported trailing-twelve-month revenue of about 2.9B CNY (latest available figure, as of Sep 24, 2026).
Does Huafang Co Ltd pay a dividend?
Huafang Co Ltd currently shows a dividend yield of about 4.45% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Huafang Co Ltd (600448)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Huafang Co Ltd it is ¥1.60 per share (as of Sep 24, 2026), against a price of ¥3.58. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is Huafang Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 600448 trades above its calculated fair value: price ¥3.58, fair value ¥1.60, a gap of about −55% (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 600448?
No. The price is what the market pays today (¥3.58); the fair value is what the company's own numbers justify (¥1.60). For Huafang Co Ltd the two are ¥1.98 per share apart. That gap is exactly why we show both numbers side by side.
How much is Huafang Co Ltd worth?
The market values Huafang Co Ltd at about 2.3B CNY (market capitalisation, as of Sep 24, 2026). Per share that is ¥3.58; our models calculate a fair value of ¥1.60 per share.
What do the bullish and bearish scenarios say about 600448?
Our models span a range for Huafang Co Ltd: cautious scenario ¥1.19, base ¥1.60, optimistic ¥2.05 per share (as of Sep 24, 2026, price ¥3.58). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Huafang Co Ltd (600448)?
Balance-sheet figures for Huafang Co Ltd (as of Sep 24, 2026): return on equity −27.2%, debt of 0.20 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is 600448 from its 52-week high?
Huafang Co Ltd trades at ¥3.58, about 13% below its 52-week high of ¥4.11 and 27% above the low of ¥2.81 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of ¥1.60 is for.
Which stocks are comparable to Huafang Co Ltd?
From the same area (Consumer Cyclical) we also value Shenzhou International Group, Tongkun Group, Inner Mongolia ERDOS Resources Co, K.P.R. Mill Limited, 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 Huafang Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price ¥3.58, calculated fair value ¥1.60 (−55%), Quality Score 42/100, from 12 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 600448 calculated?
We run Huafang Co Ltd through 12 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 ¥1.60, 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 14.1 % above its aggregate fair value. Huafang 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 Huafang Co Ltd (600448)?
The closing price on Sep 22, 2026 was ¥3.58. Our model-based fair value is ¥1.60, about −55% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Huafang Co Ltd right now?
The price sits above even our optimistic bull case (¥2.05). The favourable scenario is already priced in. Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Huafang Co Ltd

How large is the market capitalisation of Huafang Co Ltd (600448)?
The market capitalisation of Huafang Co Ltd is 2.3B CNY (≈ $337M). 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 Huafang Co Ltd (600448)?
The price-to-sales ratio of Huafang Co Ltd is 0.59 (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 Huafang Co Ltd (600448)?
Earnings per share at Huafang Co Ltd are ¥−0.4600. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Huafang Co Ltd (600448)?
The dividend yield of Huafang Co Ltd is 4.5%. 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 Huafang Co Ltd (600448)?
The net margin of Huafang Co Ltd is −1.9% (fiscal year 2024). 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 Huafang Co Ltd (600448)?
The return on equity (ROE) of Huafang Co Ltd is −27.2% (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 Huafang Co Ltd (600448)?
On an EBIT basis the return on assets of Huafang Co Ltd is −0.9% (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 Huafang Co Ltd (600448)?
The operating margin of Huafang Co Ltd is −1.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Huafang Co Ltd (600448)?
Revenue at Huafang Co Ltd is growing −0.3% versus a year earlier (3y avg −6.8%). 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 Huafang Co Ltd (600448)?
Earnings per share at Huafang Co Ltd are growing −60.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Huafang Co Ltd (600448) generate?
The free cash flow of Huafang Co Ltd is 133K CNY (fiscal year 2024). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Huafang Co Ltd (600448) carry?
The net debt of Huafang Co Ltd is 838M CNY (fiscal year 2024). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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