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Guangzhou Pearl River Development Group (600684) Fair Value & Analysis

Real Estate · CN · Market cap 3.7B CNY

GP Guangzhou Pearl River Development Group 600684 · SHG
Price¥3.39
Fair Value¥1.50
Upside-55.9%
Quality36/100
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Mixed Growth
Thin margins · 3.9% net margin
High debt · generates free cash flow
Trails peers (3/13)
Narrow moat 26/100
Evidence: High Range ¥1.13 – ¥1.87 Share as image

Fair value as of: Aug 9, 2026

From 4 valuation models · updated yesterday

Share price +14.1% over the past month.

Below-average quality, and screening another 56% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥1.87). The favourable scenario is already priced in.
  • Weak quality (36/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • 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)

¥6.47 ¥2.39 Fair Value ¥1.50 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 ¥2.39 – ¥6.47 · fair‑value band ¥1.13 – ¥1.87 · the ¥3.39 price screens above the ¥1.50 fair value. Dashed = 300-day average. As of Aug 9, 2026.

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Analysis

Guangzhou Pearl River Development Group (600684) currently trades at ¥3.39, while our model-based Fair Value estimate is ¥1.50, implying the stock looks roughly 55.9% overvalued today. The Quality Score stands at 36/100 (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, Guangzhou Pearl River Development Group generated revenue of 1.6B CNY at a net margin of 3.9%. Revenue grew 2.2% year over year. It earns a return on equity of 7.3%. The balance sheet holds a net cash position of 361M CNY. Fundamentals as of Aug 9, 2026

Our scenario range runs from ¥1.13 (bear case) to ¥1.87 (bull case); at ¥3.39, 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 49% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at -56%, 600684 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
Residual Income ¥0.8800 ¥0.9000 ¥0.8900 76
P/S Multiple ¥0.8500 ¥1.14 ¥1.42 58
P/B Multiple ¥0.8500 ¥1.14 ¥1.42 55
All 4 models by family
Multiples
P/S Multiple ¥0.8500 ¥1.14 ¥1.42 58
P/B Multiple ¥0.8500 ¥1.14 ¥1.42 55
Asset-Based
NCAV (Graham) ¥0.5700 ¥0.7700 ¥1.15 50
Economic Profit
Residual Income ¥0.8800 ¥0.9000 ¥0.8900 76

Widest divergence: Multiples (¥1.14) versus Asset-Based (¥0.7700). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 1.6B CNY
Revenue growth (YoY) +2.2%
Net margin 3.9%
Return on equity 7.3%
Free cash flow 47.4M CNY FY2025
P/E ratio 56.5
More key figures
Operating margin -2.0%
EPS (TTM) ¥0.0600
EPS growth (YoY) +22.9%
Net cash 361M CNY FY2024

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

Quality Score breakdown

Overall quality 36/100

Of which business quality 37 · Market factors (momentum, volatility) 25

Profitability 35
Margins and returns on capital today
Quality Growth 28
Are margins and returns improving?
Cashflow 39
Earnings quality: real cash, not paper profit
Fin. Strength 55
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 60
Calm price path (market factor)
Momentum 9
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 0
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

Guangzhou Pearl River Development Group Co., Ltd. engages in property management business in China. It operates through property management business, cultural and sports operation business, and real estate sales and related businesses segments.

Full company description

Guangzhou Pearl River Development Group Co., Ltd. engages in property management business in China. It operates through property management business, cultural and sports operation business, and real estate sales and related businesses segments. The company offers urban life services, urban public construction services, advertising and promotion services, gymnasium management services, gymnasium operations and related supporting services, hotel management services, real estate rental and sales services, and other services. It also involved in unit logistics management, health consultation, and sports and health services; own funds for investment activities, business management, and social and economic consulting services; investing in agricultural, tourism, and cultural industry projects and domestic trade; self-owned housing leasing; and provision of parking lot and on-site repair and maintenance services. The company was formerly known as Guangzhou Pearl River Industrial Development Co.,Ltd. Guangzhou Pearl River Development Group Co., Ltd. was founded in 1985 and is headquartered in Guangzhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Guangzhou Pearl River Development Group reported revenue of ¥1.6B in FY2025 versus ¥3.6B in FY2021, a compound −18.6%/yr. Reported net income was ¥74.0M in FY2025, compounding +3.0%/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)
1.6B CNY
Latest YoY
+1.9%
Avg. growth/yr (3Y)
−32.1%
Avg. growth/yr (5Y)
−8.5%
Avg. growth/yr (35Y)
+11.6%
Revenue −18.6%/yr
FY21 ¥3.6B
FY22 ¥5.1B
FY23 ¥3.3B
FY24 ¥1.6B
FY25 ¥1.6B
Net income +3.0%/yr
FY21 ¥65.8M
FY22 −¥1.8B
FY23 −¥63.0M
FY24 ¥15.6M
FY25 ¥74.0M

600684 screens 56% overvalued. Compare with DLF Limited →

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Cite: Fair Value Calculator (2026). "Guangzhou Pearl River Development Group Fair Value". https://www.fairvalue-calculator.com/stock/600684

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 34 · Bottom 25%
Fair Value upside −56% · Bottom 25%
Return on equity (TTM) 7% · Above median
Return on assets 3% · Above median
Net margin (TTM) 4% · Below median
Operating margin (TTM) -2% · Below median
Revenue growth 2% · Above median
Debt / equity 6.06× · Higher than 75% of peers

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

P/E (TTM) 56.5× · Pricier than 75% of peers
P/B 2.96× · Pricier than 75% of peers
P/S (TTM) 2.35× · Pricier than median
P/FCF 11.7× · Pricier than 75% of peers
PEG 2.37× · 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 48
FUTURE 11 · sector 0
PAST 29 · sector 10
HEALTH 0 · sector 84
DIVIDEND 0 · sector 38

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 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 Guangzhou Pearl River Development Group (600684) overvalued or undervalued?
As of Aug 9, 2026, our model estimates a fair value of ¥1.50 versus a price of ¥3.39, about −56% (overvalued).
What is the fair value of 600684?
Our model-based fair value for Guangzhou Pearl River Development Group is ¥1.50 (as of Aug 9, 2026), built from audited fundamentals. The current price is ¥3.39.
What is the quality score of 600684?
Guangzhou Pearl River Development Group has a Quality Score of 36/100. 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 Guangzhou Pearl River Development Group (600684)?
Guangzhou Pearl River Development Group reported trailing-twelve-month revenue of about 1.6B CNY (latest available figure, as of Aug 9, 2026).
What is the net profit margin of 600684?
The net profit margin of Guangzhou Pearl River Development Group is about 3.9%, meaning it keeps roughly 3.9% of revenue as net income. 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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