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Hangzhou Jiebai Group (600814) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 4.8B CNY

HJ Hangzhou Jiebai Group 600814 · SHG
Price¥6.55
Fair Value¥6.72
Upside+2.6%
Quality66/100
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Weak Growth
Solidly profitable · 13.3% net margin
Low debt · generates free cash flow
1.88% dividend yield
Ranks above peers (9/13)
Moderate moat 56/100
Evidence: Medium Range ¥5.04 – ¥8.40 Share as image

Fair value as of: Aug 9, 2026

From 24 valuation models · updated yesterday

Share price +3.5% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from ¥5.04 (bear) to ¥8.40 (bull), base ¥6.72. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 66/100 (solid quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

¥11.17 ¥5.02 Fair Value ¥6.72 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 ¥5.02 – ¥11.17 · fair‑value band ¥5.04 – ¥8.40 · the ¥6.55 price screens below the ¥6.72 fair value. Dashed = 300-day average. As of Aug 9, 2026.

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Analysis

Hangzhou Jiebai Group (600814) currently trades at ¥6.55, while our model-based Fair Value estimate is ¥6.72, implying the stock looks roughly 2.6% fairly valued today. The Quality Score stands at 66/100 (solid quality), in the Consumer Cyclical 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.

Over the trailing twelve months, Hangzhou Jiebai Group generated revenue of 1.7B CNY at a net margin of 13.3%. Revenue grew 3.8% year over year. It earns a return on equity of 7.8%. The balance sheet holds a net cash position of 3.9B CNY. Fundamentals as of Aug 9, 2026

Our scenario range runs from ¥5.04 (bear case) to ¥8.40 (bull case); at ¥6.55, 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 41% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 50% fair-value upside, at 3%, 600814 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 ¥16.88 ¥20.05 ¥24.84 80
Residual Income ¥3.97 ¥4.10 ¥4.11 76
Rev-Margin DCF ¥11.81 ¥12.99 ¥14.46 74
All 24 models by family
DCF Models
FCF DCF ¥16.57 ¥19.88 ¥25.23 38
Owner Earnings ¥13.16 ¥15.27 ¥18.67 31
5Y Revenue Exit ¥11.81 ¥12.79 ¥14.06 39
5Y EBITDA Exit ¥15.66 ¥19.41 ¥23.99 41
5Y P/E Exit ¥13.47 ¥15.65 ¥18.03 38
10Y Revenue Exit ¥13.57 ¥14.71 ¥15.90 36
10Y EBITDA Exit ¥15.94 ¥19.02 ¥22.53 37
10Y P/E Exit ¥14.62 ¥16.57 ¥18.55 35
Earnings-Based
Graham-Dodd ¥2.08 ¥3.88 ¥4.82 54
EPV ¥11.22 ¥11.86 ¥12.42 59
Dividend Discount
Gordon GGM ¥1.56 ¥2.08 ¥2.59 70
DDM Multi-Stage ¥1.56 ¥2.12 ¥2.76 61
Multiples
P/E Multiple ¥5.04 ¥6.72 ¥8.40 63
P/S Multiple ¥1.92 ¥2.56 ¥3.20 58
P/B Multiple ¥3.89 ¥5.19 ¥6.49 55
EV/EBIT ¥15.63 ¥18.45 ¥21.27 53
EV/EBITDA ¥16.31 ¥19.36 ¥22.41 54
EV/Revenue ¥8.95 ¥9.72 ¥10.48 43
Asset-Based
NCAV (Graham) ¥2.54 ¥3.41 ¥5.08 50
Growth DCF
Growth DCF ¥16.88 ¥20.05 ¥24.84 80
Rev-Margin DCF ¥11.81 ¥12.99 ¥14.46 74
Economic Profit
Residual Income ¥3.97 ¥4.10 ¥4.11 76
ROIC Compounder ¥11.22 ¥11.86 ¥12.42 72
Growth Earnings
Growth-Adj P/E ¥3.58 ¥5.12 ¥6.66 68

Widest divergence: DCF Models (¥15.65) versus Dividend Discount (¥2.08). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 1.7B CNY
Revenue growth (YoY) +3.8%
Net margin 13.3%
Return on equity 7.8%
Free cash flow 709M CNY FY2025
P/E ratio 22.3
More key figures
Operating margin 35.9%
EPS (TTM) ¥0.3100
Dividend yield 1.9%
Net cash 3.9B CNY FY2025

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

Quality Score breakdown

Overall quality 66/100

Of which business quality 64 · Market factors (momentum, volatility) 35

Profitability 29
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 99
Earnings quality: real cash, not paper profit
Fin. Strength 66
Balance sheet, leverage, solvency risk
Investment 87
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 18
Price trend over the last 3–12 months (market factor)
52W Momentum 12
Distance to the 52-week high (market factor)
Net Issuance 73
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

Hangzhou Jiebai Group Co., Limited operates department stores and shopping malls in China. The company was founded in 1918 and is based in Hangzhou, China. Hangzhou Jiebai Group Co., Limited is a subsidiary of Hangzhou Commerce & Tourism Group Co., Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Hangzhou Jiebai Group reported revenue of ¥1.6B in FY2025 versus ¥2.1B in FY2021, a compound −7.4%/yr. Reported net income was ¥224M in FY2025, compounding −10.5%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.6B CNY
Latest YoY
−10.6%
Avg. growth/yr (3Y)
−7.6%
Avg. growth/yr (5Y)
−2.6%
Avg. growth/yr (35Y)
+5.5%
Revenue −7.4%/yr
FY21 ¥2.1B
FY22 ¥2.0B
FY23 ¥2.0B
FY24 ¥1.8B
FY25 ¥1.6B
Net income −10.5%/yr
FY21 ¥351M
FY22 ¥238M
FY23 ¥260M
FY24 ¥247M
FY25 ¥224M

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Cite: Fair Value Calculator (2026). "Hangzhou Jiebai Group Fair Value". https://www.fairvalue-calculator.com/stock/600814

Peer Group

Department Stores · 127 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 66 · Top 25%
Fair Value upside +3% · Above median
Return on equity (TTM) 8% · Above median
Return on assets 3% · Above median
Net margin (TTM) 13% · Top 25%
Operating margin (TTM) 36% · Top 25%
Revenue growth 4% · Above median
Dividend yield (TTM) 1.9% · Above median
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Department Stores median · lower = cheaper

P/E (TTM) 21.1× · Pricier than median
P/B 1.29× · Pricier than median
P/S (TTM) 2.80× · Pricier than 75% of peers
P/FCF 1.0× · 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 37 · sector 26
FUTURE 19 · sector 2
PAST 31 · sector 16
HEALTH 100 · sector 96
DIVIDEND 38 · sector 37

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

Stock Price Fair Value vs Fair Value
Falabella S.A FALABELLA 5,875 CLP 8,880 CLP +51%
El Puerto de Liverpool, S.A. LIVEPOLC1 99.62 MXN 263.70 MXN +165%
99 Speed Mart Retail Holdings 5326 3.70 MYR 1.45 MYR -61%
Cencosud S.A CENCOSUD 2,040 CLP 2,516 CLP +23%
Vishal Mega Mart Limited VMM ₹113.94 ₹37.39 -67%
SHINSEGAE Inc 004170 610,000 KRW 200,259 KRW -67%
Organización Soriana, S. A. B. de C. V., SORIANAB 30.04 MXN 59.59 MXN +98%
Lotte Shopping Co 023530 155,300 KRW 81,725 KRW -47%
Lojas Renner S.A LREN3 R$14.10 R$33.36 +137%
La Comer, S.A. LACOMERUBC 34.37 MXN 51.49 MXN +50%

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Frequently asked questions

Is Hangzhou Jiebai Group (600814) overvalued or undervalued?
As of Aug 9, 2026, our model estimates a fair value of ¥6.72 versus a price of ¥6.55, about +3% (fairly valued).
What is the fair value of 600814?
Our model-based fair value for Hangzhou Jiebai Group is ¥6.72 (as of Aug 9, 2026), built from audited fundamentals. The current price is ¥6.55.
What is the quality score of 600814?
Hangzhou Jiebai Group has a Quality Score of 66/100. 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 Hangzhou Jiebai Group (600814)?
Hangzhou Jiebai Group reported trailing-twelve-month revenue of about 1.7B CNY (latest available figure, as of Aug 9, 2026).
What is the net profit margin of 600814?
The net profit margin of Hangzhou Jiebai Group is about 13.3%, meaning it keeps roughly 13.3% of revenue as net income. Based on the latest reported figures.
Does Hangzhou Jiebai Group pay a dividend?
Hangzhou Jiebai Group currently shows a dividend yield of about 1.85% 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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