Heilongjiang Agriculture Company (600598) Fair Value & Analysis
Consumer Defensive · CN · Market cap 21.4B CNY
Fair value as of: Aug 9, 2026
From 25 valuation models · updated yesterday
Share price +2.6% over the past month.
A strong business, but screening 12% overvalued on our models.
What matters now
- A fairly wide model range (¥7.16 to ¥13.28) leaves room in how you read the outcome.
- Our model range runs from ¥7.16 (bear) to ¥13.28 (bull), base ¥10.65. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 75/100 (high quality) with high evidence: the data supports the verdict.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 9, 2026.
How to read this chart
60‑month range ¥10.69 – ¥18.98 · fair‑value band ¥7.16 – ¥13.28 · the ¥12.06 price screens above the ¥10.65 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 9, 2026.
Analysis
Heilongjiang Agriculture Company (600598) currently trades at ¥12.06, while our model-based Fair Value estimate is ¥10.65, implying the stock looks roughly 11.7% overvalued today. The Quality Score stands at 75/100 (high quality), in the Consumer Defensive 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, Heilongjiang Agriculture Company generated revenue of 5.3B CNY at a net margin of 22.7%. Revenue grew 9.5% year over year. It earns a return on equity of 14.6%. The balance sheet holds a net cash position of 190M CNY. Fundamentals as of Aug 9, 2026
Our scenario range runs from ¥7.16 (bear case) to ¥13.28 (bull case); at ¥12.06, 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 34% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at 102% fair-value upside, at -12%, 600598 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.
All 25 models by family
Widest divergence: Growth Earnings (¥11.10) versus Asset-Based (¥3.02). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 9, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 72 · Market factors (momentum, volatility) 33
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
Heilongjiang Agriculture Company Limited engages in the contracting and management of cultivated land in China. The company offers rice, corn, soybean, and other agricultural products; and oilseeds products.
Full company description
Heilongjiang Agriculture Company Limited engages in the contracting and management of cultivated land in China. The company offers rice, corn, soybean, and other agricultural products; and oilseeds products. It is also involved in real estate development and management; food production; grain procurement; agricultural technology development, technology consulting, and technical services and technology transfer; and manufacturing and sale of fertilizers. In addition, the company provides information processing and storage support; warehousing services; and livestock breeding services. The company was founded in 1998 and is based in Harbin, China. Heilongjiang Agriculture Company Limited operates as a subsidiary of Beidahuang Land Reclamation Group Co., Ltd.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Heilongjiang Agriculture Company reported revenue of ¥5.2B in FY2025 versus ¥3.6B in FY2021, a compound +9.6%/yr. Reported net income was ¥1.2B in FY2025, compounding +10.9%/yr from FY2021.
600598 screens 12% overvalued. Compare with Muyuan Foods Group →
Peer Group
Farm Products · 291 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.
Valuation Multiples vs Farm Products median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Farm Products stocks, each showing price versus our Fair Value estimate (as of Aug 9, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Muyuan Foods Group 002714 | ¥40.90 | ¥48.19 | +18% |
| Wens Foodstuff Group 300498 | ¥14.51 | ¥12.08 | -17% |
| Mowi ASA MOWI | kr 188.40 | kr 262.59 | +39% |
| PT Charoen Pokphand Indonesia Tbk, CPIN | 3,120 IDR | 7,076 IDR | +127% |
| Charoen Pokphand Foods Public Company CPF | 22.00 THB | 55.71 THB | +153% |
| PT Triputra Agro Persada Tbk TAPG | 1,540 IDR | 3,105 IDR | +102% |
| PT FAP Agri Tbk FAPA | 7,300 IDR | 7,463 IDR | +2% |
| PT Japfa Comfeed Indonesia Tbk JPFA | 2,070 IDR | 7,231 IDR | +249% |
| Thaifoods Group TFGR | 10.60 THB | 23.53 THB | +122% |
| PT Jhonlin Agro Raya Tbk JARR | 1,845 IDR | 610.80 IDR | -67% |
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Frequently asked questions
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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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