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Cinda Real Estate Co (600657) Fair Value & Analysis

Real Estate · CN · Market cap 7.3B CNY

CR Cinda Real Estate Co 600657 · SHG
Price¥2.57
Fair Value¥6.43
Upside+150.2%
Quality44/100
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Weak Growth
Loss-making · -180.8% net margin
Moderate debt · generates free cash flow
Trails peers (3/11)
Narrow moat 6/100
Evidence: Medium Range ¥3.28 – ¥6.43 Share as image

Fair value as of: Aug 9, 2026

From 8 valuation models · updated yesterday

Fair value updated Aug 9, 2026, revised from ¥5.93 to ¥6.43 (+8.4%) since Jul 25, 2026. Share price +11.3% over the past month.

Below-average quality, screening 150% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (¥3.28). The market is more pessimistic than our downside scenario.
  • A fairly wide model range (¥3.28 to ¥6.43) leaves room in how you read the outcome.
  • 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)

¥8.26 ¥2.29 Fair Value ¥6.43 Mar 2021 Aug 2026

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 ¥2.29 – ¥8.26 · fair‑value band ¥3.28 – ¥6.43 · the ¥2.57 price screens below the ¥6.43 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 9, 2026.

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Analysis

Cinda Real Estate Co (600657) currently trades at ¥2.57, while our model-based Fair Value estimate is ¥6.43, implying the stock looks roughly 150.2% undervalued today. The Quality Score stands at 44/100 (below-average quality), in the Real Estate 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: medium), always confirm before acting.

Trailing-twelve-month revenue stands at 4.5B CNY. Revenue declined 16.1% year over year. It earns a return on equity of -40.7%. Net debt stands at 9.7B CNY. Fundamentals as of Aug 9, 2026

Our scenario range runs from ¥3.28 (bear case) to ¥6.43 (bull case); at ¥2.57, the current price sits below 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 42% below its 52-week high, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at 150%, 600657 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 ¥0.5400 80
Rev-Margin DCF ¥0.2800 74
Gordon GGM ¥6.27 ¥12.49 ¥18.92 70
All 8 models by family
DCF Models
FCF DCF ¥0.8100 38
5Y Revenue Exit ¥0.3600 39
10Y Revenue Exit ¥0.2500 36
Dividend Discount
Gordon GGM ¥6.27 ¥12.49 ¥18.92 70
DDM Multi-Stage ¥6.27 ¥9.92 ¥13.19 61
Asset-Based
NCAV (Graham) ¥2.80 ¥3.75 ¥5.60 50
Growth DCF
Growth DCF ¥0.5400 80
Rev-Margin DCF ¥0.2800 74

Widest divergence: Dividend Discount (¥9.92) versus Asset-Based (¥3.75). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 4.5B CNY
Revenue growth (YoY) -16.1%
Net margin -181%
Return on equity -40.7%
Free cash flow 477M CNY FY2025
Operating margin -13.7%
More key figures
EPS (TTM) ¥-2.86
EPS growth (YoY) +183%
Net debt 9.7B CNY FY2025

Figures from reported company fundamentals · as of Aug 9, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100

Of which business quality 48 · Market factors (momentum, volatility) 27

Profitability 1
Margins and returns on capital today
Quality Growth 33
Are margins and returns improving?
Cashflow 65
Earnings quality: real cash, not paper profit
Fin. Strength 34
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 69
Calm price path (market factor)
Momentum 11
Price trend over the last 3–12 months (market factor)
52W Momentum 8
Distance to the 52-week high (market factor)
Net Issuance 91
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

Cinda Real Estate Co., Ltd. engages in the real estate development business in China. The company engages in construction of residential buildings, and commercial.

Full company description

Cinda Real Estate Co., Ltd. engages in the real estate development business in China. The company engages in construction of residential buildings, and commercial. It also provides project supervision, consulting services, non-residential real estate resource integration, light asset operation management, non-residential real estate investment, and asset management services. The company was founded in 1953 and is based in Beijing, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Cinda Real Estate Co reported revenue of ¥4.6B in FY2025 versus ¥22.1B in FY2021, a compound −32.5%/yr. Reported net income was −¥7.9B in FY2025.

Growth Quality 23/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
4.6B CNY
Latest YoY
−42.9%
Avg. growth/yr (3Y)
−36.9%
Avg. growth/yr (5Y)
−29.3%
Avg. growth/yr (32Y)
+9.1%
Revenue −32.5%/yr
FY21 ¥22.1B
FY22 ¥18.2B
FY23 ¥11.4B
FY24 ¥8.0B
FY25 ¥4.6B
Net income
FY21 ¥815M
FY22 ¥550M
FY23 ¥505M
FY24 −¥784M
FY25 −¥7.9B

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Cite: Fair Value Calculator (2026). "Cinda Real Estate Co Fair Value". https://www.fairvalue-calculator.com/stock/600657

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 46 · Below median
Fair Value upside +150% · Top 25%
Return on assets -4% · Bottom 25%
Net margin (TTM) -181% · Bottom 25%
Operating margin (TTM) -14% · Bottom 25%
Revenue growth -16% · Below median
Debt / equity 1.15× · Higher than 75% of peers

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

P/B 0.07× · Cheaper than 75% of peers
P/S (TTM) 0.24× · Cheaper than 75% of peers
P/FCF 2.3× · 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 100 · sector 48
FUTURE 0 · sector 0
PAST 0 · sector 10
HEALTH 43 · sector 84
DIVIDEND 0 · sector 38

Insider activity: 20/100

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 Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Aug 9, 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 Cinda Real Estate Co (600657) overvalued or undervalued?
As of Aug 9, 2026, our model estimates a fair value of ¥6.43 versus a price of ¥2.57, about +150% (undervalued).
What is the fair value of 600657?
Our model-based fair value for Cinda Real Estate Co is ¥6.43 (as of Aug 9, 2026), built from audited fundamentals. The current price is ¥2.57.
What is the quality score of 600657?
Cinda Real Estate Co has a Quality Score of 44/100. 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 Cinda Real Estate Co (600657)?
Cinda Real Estate Co reported trailing-twelve-month revenue of about 4.5B CNY (latest available figure, as of Aug 9, 2026).
What is the net profit margin of 600657?
The net profit margin of Cinda Real Estate Co is about -180.8%, meaning it is currently running at a net loss. 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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