Tande Co (600665) Fair Value & Analysis
Real Estate · CN · Market cap 2.9B CNY
Fair value as of: Aug 9, 2026
From 10 valuation models · updated yesterday
Fair value updated Aug 9, 2026, revised from ¥1.07 to ¥0.7600 (−29.0%) since Jul 25, 2026. Share price +8.2% over the past month.
Below-average quality, and screening another 77% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (¥2.05). The favourable scenario is already priced in.
- Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The model range is unusually wide (¥0.7600 to ¥2.05). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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 ¥2.07 – ¥4.97 · fair‑value band ¥0.7600 – ¥2.05 · the ¥3.31 price screens above the ¥0.7600 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
Tande Co (600665) currently trades at ¥3.31, while our model-based Fair Value estimate is ¥0.7600, implying the stock looks roughly 77.0% overvalued today. The Quality Score stands at 40/100 (below-average quality), in the Real Estate 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, Tande Co generated revenue of 5.9B CNY at a net margin of -23.5%. Revenue declined 13.9% year over year. It earns a return on equity of -48.4%. Net debt stands at 6.2B CNY. Fundamentals as of Aug 9, 2026
Our scenario range runs from ¥0.7600 (bear case) to ¥2.05 (bull case); at ¥3.31, the current price sits above 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 21% below its 52-week high and 10% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -2% fair-value upside, at -77%, 600665 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 10 models by family
Widest divergence: Dividend Discount (¥13.82) versus DCF Models (¥0.8100). 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 39 · Market factors (momentum, volatility) 42
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
Tande Co., Ltd. engages in the real estate development business in China. It is involved in the development and sale of real estate properties; and property management activities.
Full company description
Tande Co., Ltd. engages in the real estate development business in China. It is involved in the development and sale of real estate properties; and property management activities. The company is also engaged in land consolidation services, external contracting projects; landscaping construction; earthwork construction; metal door and window construction; engineering construction; general machinery and equipment installation services; engineering management services; real estate appraisal; counter and booth rental; land use right rental; house demolition services; real estate brokerage; real estate consulting; non-residential real estate rental; and information consulting services. In addition, it offers municipal park management; tourism development project planning and consulting; commercial complex management services; marketing planning; conference and exhibition services; development and operation of rural folk crafts and products, leisure agriculture and rural tourism resources; management of tourist attractions; and recreational activities at small facilities in the district. Further, the company provides nursing institution and health consultation services. The company was incorporated in 1992 and is based in Xi'an, China. Tande Co., Ltd. is a subsidiary of Xi'an Hi-tech Industry Development Zone Real Estate Development Company.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Tande Co reported revenue of ¥6.1B in FY2025 versus ¥6.9B in FY2021, a compound −3.2%/yr. Reported net income was −¥1.3B in FY2025.
600665 screens 77% overvalued. Compare with Vingroup Joint Stock Company →
Peer Group
Real Estate Services · 521 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 Real Estate Services median · lower = cheaper
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 Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Aug 9, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Vingroup Joint Stock Company VIC | 223,000 VND | 25,731 VND | -88% |
| KE Holdings 2423 | HK$44.76 | HK$18.03 | -60% |
| Swire Properties Limited 1972 | HK$23.90 | HK$18.75 | -22% |
| Plaza S.A MALLPLAZA | 3,725 CLP | 5,571 CLP | +50% |
| SAGAA SAGAA | kr 170.00 | kr 75.55 | -56% |
| Cencosud Shopping S.A CENCOMALLS | 2,324 CLP | 2,976 CLP | +28% |
| PT Sarana Menara Nusantara Tbk. owns and TOWR | 372.00 IDR | 1,208 IDR | +225% |
| PT Metropolitan Kentjana Tbk MKPI | 20,975 IDR | 19,160 IDR | -9% |
| PT Bangun Kosambi Sukses Tbk, CBDK | 3,530 IDR | 3,464 IDR | -2% |
| IRSA Inversiones y Representaciones Sociedad Anónima, IRSA | 2,495 ARS | 3,998 ARS | +60% |
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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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