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Shanghai Phoenix Enterprise (Group) Co (600679) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 4.7B CNY

SP Shanghai Phoenix Enterprise (Group) Co 600679 · SHG
Price¥9.39
Fair Value¥3.52
Upside-62.5%
Quality56/100
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Expensive Growth
Thin margins · 4.1% net margin
Low debt · generates free cash flow
0.66% dividend yield
Trails peers (2/14)
Narrow moat 26/100
Evidence: High Range ¥2.81 – ¥4.40 Share as image

Fair value as of: Aug 9, 2026

From 23 valuation models · updated yesterday

Fair value updated Aug 9, 2026, revised from ¥3.42 to ¥3.52 (+2.9%) since Jul 5, 2026. Share price +4.8% over the past month.

A solid business, but screening 63% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥4.40). The favourable scenario is already priced in.
  • Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥20.89 ¥7.81 Fair Value ¥3.52 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 ¥7.81 – ¥20.89 · fair‑value band ¥2.81 – ¥4.40 · the ¥9.39 price screens above the ¥3.52 fair value. Dashed = 300-day average. As of Aug 9, 2026.

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Analysis

Shanghai Phoenix Enterprise (Group) Co (600679) currently trades at ¥9.39, while our model-based Fair Value estimate is ¥3.52, implying the stock looks roughly 62.5% overvalued today. The Quality Score stands at 56/100 (solid quality), in the Consumer Cyclical 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, Shanghai Phoenix Enterprise (Group) Co generated revenue of 2.1B CNY at a net margin of 4.1%. Revenue declined 2.4% year over year. It earns a return on equity of 4.2%. The balance sheet holds a net cash position of 612M CNY. Fundamentals as of Aug 9, 2026

Our scenario range runs from ¥2.81 (bear case) to ¥4.40 (bull case); at ¥9.39, 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 38% below its 52-week high and 2% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 2% fair-value upside, at -63%, 600679 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.

Model BearBaseBull Evidence
Highest evidence
Growth DCF ¥2.15 ¥2.41 ¥2.74 80
Residual Income ¥3.12 ¥3.14 ¥2.95 76
Rev-Margin DCF ¥2.42 ¥2.98 ¥3.59 74
All 23 models by family
DCF Models
FCF DCF ¥2.14 ¥2.42 ¥2.80 38
Owner Earnings ¥3.21 ¥3.96 ¥5.01 31
5Y Revenue Exit ¥2.42 ¥2.98 ¥3.68 39
5Y EBITDA Exit ¥3.19 ¥4.36 ¥5.71 41
5Y P/E Exit ¥3.63 ¥5.16 ¥6.72 38
10Y Revenue Exit ¥2.27 ¥2.75 ¥3.36 36
10Y EBITDA Exit ¥2.78 ¥3.67 ¥4.82 37
10Y P/E Exit ¥3.05 ¥4.20 ¥5.54 35
Earnings-Based
Graham-Dodd ¥1.41 ¥3.59 ¥4.67 54
PEG = 1.0 ¥0.6700 ¥0.9500 ¥1.24 46
EPV ¥2.53 ¥2.70 ¥2.84 59
Multiples
P/E Multiple ¥3.42 ¥4.56 ¥5.70 63
P/S Multiple ¥2.64 ¥3.52 ¥4.40 58
P/B Multiple ¥2.64 ¥3.52 ¥4.40 55
EV/EBIT ¥3.20 ¥3.76 ¥4.33 53
EV/EBITDA ¥4.13 ¥5.00 ¥5.87 54
EV/Revenue ¥2.65 ¥3.14 ¥3.63 43
Asset-Based
NCAV (Graham) ¥2.07 ¥2.77 ¥4.14 50
Growth DCF
Growth DCF ¥2.15 ¥2.41 ¥2.74 80
Rev-Margin DCF ¥2.42 ¥2.98 ¥3.59 74
Economic Profit
Residual Income ¥3.12 ¥3.14 ¥2.95 76
ROIC Compounder ¥2.53 ¥2.70 ¥2.84 72
Growth Earnings
Growth-Adj P/E ¥2.64 ¥3.77 ¥4.90 68

Widest divergence: Growth Earnings (¥3.77) versus Growth DCF (¥2.41). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 2.1B CNY
Revenue growth (YoY) -2.4%
Net margin 4.1%
Return on equity 4.2%
Free cash flow 31.4M CNY FY2025
P/E ratio 55.2
More key figures
Operating margin 5.5%
EPS (TTM) ¥0.1700
Dividend yield 0.7%
EPS growth (YoY) -60.5%
Net cash 612M CNY FY2024

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

Quality Score breakdown

Overall quality 56/100

Of which business quality 56 · Market factors (momentum, volatility) 32

Profitability 31
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 27
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 86
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 82
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

Shanghai Phoenix Enterprise (Group) Co., Ltd. produces and sells bicycles under the Phoenix brand in China. It is also involved in real estate development and construction activities and quasi-financial business.

Full company description

Shanghai Phoenix Enterprise (Group) Co., Ltd. produces and sells bicycles under the Phoenix brand in China. It is also involved in real estate development and construction activities and quasi-financial business. The company offers mopeds, two-wheeled motorcycles, baby carriages, fitness equipment, bicycle industrial equipment and molds; operation and management of supporting products, properties, warehousing, and logistics. The company also exports its products to Europe, Latin America, Africa, and the United States. The company was formerly known as Jinshan Development & Construction Co., Ltd. and changed its name to Shanghai Phoenix Enterprise (Group) Co., Ltd. in January 2016. Shanghai Phoenix Enterprise (Group) Co., Ltd. was founded in 1993 and is based in Shanghai, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shanghai Phoenix Enterprise (Group) Co reported revenue of ¥2.2B in FY2025 versus ¥2.1B in FY2021, a compound +1.2%/yr. Reported net income was ¥107M in FY2025, compounding +0.6%/yr from FY2021.

Growth Quality 53/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
2.2B CNY
Latest YoY
−1.6%
Avg. growth/yr (3Y)
+10.3%
Avg. growth/yr (5Y)
+9.4%
Avg. growth/yr (35Y)
+2.7%
Revenue +1.2%/yr
FY21 ¥2.1B
FY22 ¥1.6B
FY23 ¥1.7B
FY24 ¥2.2B
FY25 ¥2.2B
Net income +0.6%/yr
FY21 ¥104M
FY22 −¥308M
FY23 ¥45.3M
FY24 −¥139M
FY25 ¥107M

600679 screens 63% overvalued. Compare with ANTA Sports Products Limited →

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Cite: Fair Value Calculator (2026). "Shanghai Phoenix Enterprise (Group) Co Fair Value". https://www.fairvalue-calculator.com/stock/600679

Peer Group

Leisure · 192 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 56 · Above median
Fair Value upside −63% · Bottom 25%
Return on equity (TTM) 4% · Below median
Return on assets 1% · Below median
Net margin (TTM) 4% · Below median
Operating margin (TTM) 5% · Below median
Revenue growth -2% · Below median
Dividend yield (TTM) 0.7% · Bottom 25%
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Leisure median · lower = cheaper

P/E (TTM) 55.2× · Pricier than 75% of peers
P/B 2.18× · Pricier than median
P/S (TTM) 2.17× · Pricier than median
P/FCF 22.0× · Pricier than 75% of peers
EV/EBITDA 36.1× · Pricier than 75% of peers

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 0 · sector 14
FUTURE 0 · sector 18
PAST 17 · sector 19
HEALTH 100 · sector 94
DIVIDEND 13 · sector 51

VALUE 0: the price sits above our fair-value range.

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 Leisure stocks, each showing price versus our Fair Value estimate (as of Aug 9, 2026).

Stock Price Fair Value vs Fair Value
ANTA Sports Products Limited 2020 HK$74.15 HK$119.29 +61%
Pop Mart International Group 9992 HK$160.20 HK$227.30 +42%
Amer Sports, Inc AS $36.44 $16.16 -56%
Hasbro, Inc HAS $81.55 $83.38 +2%
Life Time Group LTH $42.15 $16.15 -62%
Acushnet Holdings GOLF $114.78 $37.79 -67%
Li Ning Company 2331 HK$14.80 HK$29.26 +98%
Benefit Systems S.A BFT 5,255 PLN 3,714 PLN -29%
Ninebot Limited 689009 ¥37.82 ¥39.17 +4%
Asmodee Group ASMDEEB kr 145.70 kr 41.90 -71%

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Frequently asked questions

Is Shanghai Phoenix Enterprise (Group) Co (600679) overvalued or undervalued?
As of Aug 9, 2026, our model estimates a fair value of ¥3.52 versus a price of ¥9.39, about −63% (overvalued).
What is the fair value of 600679?
Our model-based fair value for Shanghai Phoenix Enterprise (Group) Co is ¥3.52 (as of Aug 9, 2026), built from audited fundamentals. The current price is ¥9.39.
What is the quality score of 600679?
Shanghai Phoenix Enterprise (Group) Co has a Quality Score of 56/100. 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 Shanghai Phoenix Enterprise (Group) Co (600679)?
Shanghai Phoenix Enterprise (Group) Co reported trailing-twelve-month revenue of about 2.1B CNY (latest available figure, as of Aug 9, 2026).
What is the net profit margin of 600679?
The net profit margin of Shanghai Phoenix Enterprise (Group) Co is about 4.1%, meaning it keeps roughly 4.1% of revenue as net income. Based on the latest reported figures.
Does Shanghai Phoenix Enterprise (Group) Co pay a dividend?
Shanghai Phoenix Enterprise (Group) Co currently shows a dividend yield of about 0.66% relative to its recent price (as of Aug 9, 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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