Huaan Securities Co (600909) Fair Value & Analysis

Financial Services · CN · Market cap 41.2B CNY

A solid business, but screening 19% overvalued on our models.

What matters now

• Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.
• For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

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 ¥3.95 – ¥12.22 · fair‑value band ¥4.98 – ¥8.30 · the ¥8.21 price screens above the ¥6.64 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 9, 2026.

Full chart & analysis →

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Analysis

Huaan Securities Co (600909) currently trades at ¥8.21, while our model-based Fair Value estimate is ¥6.64, implying the stock looks roughly 19.1% overvalued today. The Quality Score stands at 65/100 (solid quality), in the Financial Services 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, Huaan Securities Co generated revenue of 4.8B CNY at a net margin of 42.1%. Revenue declined 21.9% year over year. It earns a return on equity of 8.2%. Net debt stands at 11.7B CNY. Fundamentals as of Aug 9, 2026

Our scenario range runs from ¥4.98 (bear case) to ¥8.30 (bull case); at ¥8.21, 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 near its 52-week high and 51% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 11% fair-value upside, at -19%, 600909 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.

Widest divergence: Multiples (¥4.03) versus Asset-Based (¥3.18). Highest evidence: P/B Multiple (55).

Key figures & financial health

Quality Score breakdown

About the company

Huaan Securities Co., Ltd. provides investment and financing solutions in China. The company provides securities brokerage and investment consulting services; financial consulting related services to securities trading and investment; securities underwriting and sponsorship services; securities proprietary trading services; margin trading services; agency …

Full company description

Huaan Securities Co., Ltd. provides investment and financing solutions in China. The company provides securities brokerage and investment consulting services; financial consulting related services to securities trading and investment; securities underwriting and sponsorship services; securities proprietary trading services; margin trading services; agency sales services for financial products and securities investment funds; and intermediary introduction services for futures companies, as well as custody services for publicly and privately raised securities investment funds. The company was founded in 1991 and is headquartered in Hefei, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Huaan Securities Co reported revenue of ¥5.1B in FY2025 versus ¥4.4B in FY2021, a compound +3.3%/yr. Reported net income was ¥2.1B in FY2025, compounding +10.3%/yr from FY2021.

600909 screens 19% overvalued. Compare with Huatai Securities Co →

Peer Group

Capital Markets · 425 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 Capital Markets median · lower = cheaper

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.

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.

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Frequently asked questions

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.