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Shandong Pharmaceutical Glass Co. (600529) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 12.8B CNY

SP Shandong Pharmaceutical Glass Co. 600529 · SHG
Price¥19.32
Fair Value¥21.44
Upside+11.0%
Quality58/100
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Mixed Growth
Solidly profitable · 14.8% net margin
Low debt · generates free cash flow
2.38% dividend yield
Ranks above peers (10/15)
Moderate moat 58/100
Evidence: High Range ¥12.23 – ¥28.42 Share as image

Fair value as of: Aug 8, 2026

From 26 valuation models · updated 2 days ago

Fair value updated Aug 8, 2026, revised from ¥22.80 to ¥21.44 (−6.0%) since Jul 11, 2026. Share price +6.0% over the past month.

A solid business, screening 11% undervalued on our models.

What matters now

  • A fairly wide model range (¥12.23 to ¥28.42) leaves room in how you read the outcome.
  • Our model range runs from ¥12.23 (bear) to ¥28.42 (bull), base ¥21.44. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 58/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

¥43.74 ¥17.33 Fair Value ¥21.44 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 8, 2026.

How to read this chart

60‑month range ¥17.33 – ¥43.74 · fair‑value band ¥12.23 – ¥28.42 · the ¥19.32 price screens below the ¥21.44 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 8, 2026.

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Analysis

Shandong Pharmaceutical Glass Co. (600529) currently trades at ¥19.32, while our model-based Fair Value estimate is ¥21.44, implying the stock looks roughly 11.0% undervalued today. The Quality Score stands 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, Shandong Pharmaceutical Glass Co. generated revenue of 4.5B CNY at a net margin of 14.8%. Revenue grew 4.1% year over year. It earns a return on equity of 8.0%. The balance sheet holds a net cash position of 1.1B CNY. Fundamentals as of Aug 8, 2026

Our scenario range runs from ¥12.23 (bear case) to ¥28.42 (bull case); at ¥19.32, 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 19% below its 52-week high and 12% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -22% fair-value upside, at 11%, 600529 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 ¥8.01 ¥12.38 ¥19.56 80
Residual Income ¥10.55 ¥11.39 ¥13.53 76
Rev-Margin DCF ¥11.21 ¥18.80 ¥28.21 74
All 26 models by family
DCF Models
FCF DCF ¥8.00 ¥12.61 ¥20.30 38
Owner Earnings ¥17.44 ¥28.85 ¥47.84 31
5Y Revenue Exit ¥11.21 ¥19.04 ¥29.59 39
5Y EBITDA Exit ¥15.61 ¥27.80 ¥42.93 41
5Y P/E Exit ¥14.16 ¥24.92 ¥37.00 38
10Y Revenue Exit ¥9.67 ¥16.68 ¥27.22 36
10Y EBITDA Exit ¥12.92 ¥22.98 ¥38.04 37
10Y P/E Exit ¥11.97 ¥20.91 ¥33.23 35
Earnings-Based
Graham-Dodd ¥7.07 ¥29.08 ¥39.62 54
Lynch FV ¥7.32 ¥10.45 ¥13.59 50
PEG = 1.0 ¥7.32 ¥10.45 ¥13.59 46
EPV ¥11.58 ¥13.25 ¥14.70 59
Dividend Discount
Gordon GGM ¥5.12 ¥10.65 ¥16.90 70
DDM Multi-Stage ¥5.12 ¥8.98 ¥11.18 61
Multiples
P/E Multiple ¥17.15 ¥22.86 ¥28.58 63
P/S Multiple ¥13.25 ¥17.67 ¥22.08 58
P/B Multiple ¥13.25 ¥17.67 ¥22.08 55
EV/EBIT ¥17.68 ¥23.05 ¥28.41 53
EV/EBITDA ¥21.09 ¥27.59 ¥34.10 54
EV/Revenue ¥13.07 ¥18.00 ¥22.92 43
Asset-Based
NCAV (Graham) ¥6.25 ¥8.37 ¥12.50 50
Growth DCF
Growth DCF ¥8.01 ¥12.38 ¥19.56 80
Rev-Margin DCF ¥11.21 ¥18.80 ¥28.21 74
Economic Profit
Residual Income ¥10.55 ¥11.39 ¥13.53 76
ROIC Compounder ¥11.58 ¥14.01 ¥17.88 72
Growth Earnings
Growth-Adj P/E ¥12.96 ¥18.51 ¥24.07 68

Widest divergence: DCF Models (¥20.91) versus Asset-Based (¥8.37). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 4.5B CNY
Revenue growth (YoY) +4.1%
Net margin 14.8%
Return on equity 8.0%
Free cash flow 345M CNY FY2025
P/E ratio 19.3
More key figures
Operating margin 21.2%
EPS (TTM) ¥1.00
Dividend yield 2.4%
EPS growth (YoY) -11.8%
Net cash 1.1B CNY FY2025

Figures from reported company fundamentals · as of Aug 8, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 56 · Market factors (momentum, volatility) 48

Profitability 42
Margins and returns on capital today
Quality Growth 34
Are margins and returns improving?
Cashflow 39
Earnings quality: real cash, not paper profit
Fin. Strength 87
Balance sheet, leverage, solvency risk
Investment 77
Disciplined investing over empire-building
Low Volatility 94
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 24
Distance to the 52-week high (market factor)
Net Issuance 65
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

Shandong Pharmaceutical Glass Co.Ltd engages in research and development, production, and sale of various pharmaceutical glass packaging products in China.

Full company description

Shandong Pharmaceutical Glass Co.Ltd engages in research and development, production, and sale of various pharmaceutical glass packaging products in China. The company offers moulded glass products, including amber glass containers, dropper bottles, infusion bottles, cosmetic bottles, tablet bottle, food glass, cobalt blue and green bottles, and black bottles, as well as moulded glass injection vial comprising type I/II/III. It also provides tubular glass products, such as glass tubes for pharma use, other tubular bottle with screw neck finish, PFS and glass cartridges, tubular glass vials for injection, and ampoules. In addition, the company offers closures for glass containers comprising plastic bottles, dropper cap, plastic cap for bottles, plunger and combiseal for glass cartridge, teflon coated rubber stopper, rubber stopper for injection vial/bottle, accessories for PFS, and flip off cap and Al-seal. Further, it provides butyl rubber stopper for injection; and prefilled syringe, aluminum plastic multi-cap, plastic dropper cap, dropper, caps for dropper bottle, and white HDPE bottles. The company also exports its products to to Europe, the United States, Russia, Japan, Korea, Southeast Asia, and internationally. Shandong Pharmaceutical Glass Co.Ltd was founded in 1970 and is based in Zibo, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shandong Pharmaceutical Glass Co. reported revenue of ¥4.5B in FY2025 versus ¥3.9B in FY2021, a compound +3.7%/yr. Reported net income was ¥690M in FY2025, compounding +3.9%/yr from FY2021.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
4.5B CNY
Latest YoY
−12.7%
Avg. growth/yr (3Y)
+2.2%
Avg. growth/yr (5Y)
+5.5%
Avg. growth/yr (26Y)
+12.1%
Revenue +3.7%/yr
FY21 ¥3.9B
FY22 ¥4.2B
FY23 ¥5.0B
FY24 ¥5.1B
FY25 ¥4.5B
Net income +3.9%/yr
FY21 ¥591M
FY22 ¥618M
FY23 ¥776M
FY24 ¥943M
FY25 ¥690M

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Cite: Fair Value Calculator (2026). "Shandong Pharmaceutical Glass Co. Fair Value". https://www.fairvalue-calculator.com/stock/600529

Peer Group

Packaging & Containers · 273 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 · Above median
Fair Value upside +11% · Above median
Return on equity (TTM) 8% · Above median
Return on assets 5% · Above median
Net margin (TTM) 15% · Top 25%
Operating margin (TTM) 21% · Top 25%
Revenue growth 4% · Above median
Dividend yield (TTM) 2.4% · Above median
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Packaging & Containers median · lower = cheaper

P/E (TTM) 19.3× · Pricier than median
P/B 1.55× · Pricier than median
P/S (TTM) 2.84× · Pricier than 75% of peers
P/FCF 5.5× · Pricier than median
EV/EBITDA 9.6× · Pricier than median
PEG 0.91× · Cheaper 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 48 · sector 9
FUTURE 21 · sector 1
PAST 32 · sector 21
HEALTH 100 · sector 92
DIVIDEND 48 · sector 42

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 Packaging & Containers stocks, each showing price versus our Fair Value estimate (as of Aug 8, 2026).

Stock Price Fair Value vs Fair Value
Stora Enso Oyj STER kr 101.90 kr 126.39 +24%
ShenZhen YUTO Packaging Technology Co 002831 ¥29.10 ¥20.88 -28%
SCG Packaging Public Company SCGP 29.00 THB 16.12 THB -44%
AblePrint Technology Co 7734 2,850 TWD 661.69 TWD -77%
PT Fajar Surya Wisesa Tbk, FASW 5,312 IDR 1,194 IDR -78%
Taiwan Hon Chuan Enterprise Co 9939 132.50 TWD 127.06 TWD -4%
Time Technoplast Limited TIMETECHNO ₹206.82 ₹161.42 -22%
EPL Limited 500135 ₹222.25 ₹111.65 -50%
Ton Yi Industrial Corp 9907 15.15 TWD 23.17 TWD +53%
Dongwon Systems Corporation 014820 19,330 KRW 31,473 KRW +63%

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Frequently asked questions

Is Shandong Pharmaceutical Glass Co. (600529) overvalued or undervalued?
As of Aug 8, 2026, our model estimates a fair value of ¥21.44 versus a price of ¥19.32, about +11% (undervalued).
What is the fair value of 600529?
Our model-based fair value for Shandong Pharmaceutical Glass Co. is ¥21.44 (as of Aug 8, 2026), built from audited fundamentals. The current price is ¥19.32.
What is the quality score of 600529?
Shandong Pharmaceutical Glass Co. has a Quality Score of 58/100. 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 Shandong Pharmaceutical Glass Co. (600529)?
Shandong Pharmaceutical Glass Co. reported trailing-twelve-month revenue of about 4.5B CNY (latest available figure, as of Aug 8, 2026).
What is the net profit margin of 600529?
The net profit margin of Shandong Pharmaceutical Glass Co. is about 14.8%, meaning it keeps roughly 14.8% of revenue as net income. Based on the latest reported figures.
Does Shandong Pharmaceutical Glass Co. pay a dividend?
Shandong Pharmaceutical Glass Co. currently shows a dividend yield of about 2.55% relative to its recent price (as of Aug 8, 2026).

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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