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Anhui Hwasu Co.Ltd. (600935) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Anhui Hwasu Co.Ltd. ¥3.26, price ¥2.31, upside +41.1%, quality 42 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
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Basic Materials · CN · ISIN CNE100004Z97

AH Thin data Sep 24, 2026

Anhui Hwasu Co.Ltd.

600935 · SHG

SpeculativeUpside exists, but weak quality makes the signal speculative.

✓Fair value ¥3.26 · Undervalued (+41%)
!Quality 42/100
!Weak Growth (revenue 5y −1.7 %/yr)
!Loss-making · -2.5% net margin (TTM)
!Low debt · negative free cash flow
!Mixed vs. peers (5/12)
!Narrow moat 17/100
!Evidence only low, so the estimate is less certain
!Weak on dividend: 6 out of 100

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

¥8.96 ¥2.01 Fair Value ¥3.26 Nov 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

58‑month range ¥2.01 – ¥8.96 · fair‑value band ¥2.44 – ¥4.08 · the ¥2.31 price screens below the ¥3.26 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Anhui Hwasu Co.,Ltd. engages in the production and sale of chlor-alkali chemical products in China. It also offers PVC, caustic soda, limestone, carbide slag cement, lime, and trichlorosilane.

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Anhui Hwasu Co.,Ltd. engages in the production and sale of chlor-alkali chemical products in China. It also offers PVC, caustic soda, limestone, carbide slag cement, lime, and trichlorosilane. In addition, the company is involved in rock mining, coal-fired power generation and calcium carbide preparation, PVC and caustic soda production, utilization of wastes, and the production of trichlorosilane, and silicon tetrachloride; industrial sodium hydroxide, Industrial liquid chlorine, and Industrial hydrochloric acid. The company was founded in 2009 and is based in Chuzhou, China.

Stock analysis

Anhui Hwasu Co.Ltd. (600935) currently trades at ¥2.31, while our model-based Fair Value estimate is ¥3.26, implying the stock looks roughly 29.1% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of ¥1.63 per share, and 0 of the 5 models we run sit above the ¥2.31 price.

Bear case: the DCF Models group reads lowest at ¥0.4200, and 5 of the 5 models stay below the price. Evidence for this calculation is low.

Scenario range: ¥2.44 (bear) to ¥4.08 (bull), the price of ¥2.31 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 42/100 (below-average quality), in the Basic Materials sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Anhui Hwasu Co.Ltd. reported revenue of 4.7B CNY in FY2025 versus 6.7B CNY in FY2021, a compound −8.8%/yr. Reported net income was −154M CNY in FY2025.

Key figures

Market cap 8.3B CNY (≈ $1.2B) · P/S ratio 1.80 · EPS (TTM) ¥−0.0200 · Dividend yield 0.3% · Net margin −3.3% · Return on equity −1.9% · Return on assets (EBIT) 2.5% · Operating margin 0.8%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (low confidence).

What moves the price

The share trades about 30% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −25% fair-value upside, at 41%, 600935 screens cheaper than that median.

Fair Value models

The price assumes far more growth than our models allow for, so the models scatter widely (¥0.0600 to ¥1.63). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear ¥2.44 Fair Value ¥3.26 Bull ¥4.08
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Owner Earnings ¥0.3200 ¥0.4200 ¥0.5900 77
Gordon GGM ¥0.0500 ¥0.0600 ¥0.0600 69
DDM Multi-Stage ¥0.0500 ¥0.0600 ¥0.0800 67
All 5 models by family
DCF Models
Owner Earnings ¥0.3200 ¥0.4200 ¥0.5900 77
Dividend Discount
Gordon GGM ¥0.0500 ¥0.0600 ¥0.0600 69
DDM Multi-Stage ¥0.0500 ¥0.0600 ¥0.0800 67
Multiples
EV/EBITDA ¥1.22 ¥1.63 ¥2.04 67
Asset-Based
NCAV (Graham) ¥0.8300 ¥1.11 ¥1.66 54

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Quality Score breakdown

Overall quality 42/100

Of which business quality 41 · Market factors (momentum, volatility) 41

Profitability 12
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 12
Earnings quality: real cash, not paper profit
Fin. Strength 58
Balance sheet, leverage, solvency risk
Investment 85
Disciplined investing over empire-building
Low Volatility 78
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 16
Distance to the 52-week high (market factor)
Net Issuance 65
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 1/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−8.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−11.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−1.7%
Start year 2020 (pandemic)
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.3%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
16.8% (2020) → −1.7% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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Peer Groupⓘ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.Chemicals · 350 stocks

Beats the industry median on 5/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 42 · Below median
Fair Value upside +41% · Top 25%
Profitability
Return on assets −1% · Bottom 25%
Net margin (TTM) −2% · Bottom 25%
Operating margin (TTM) 1% · Bottom 25%
Growth and dividend
Revenue growth −8% · Bottom 25%
Dividend yield (TTM) 0.3% · Bottom 25%
Balance sheet
Debt / equity 0.06× · Below median

Valuation Multiplesvs Chemicals median · lower = cheaper

P/B 0.21× · Cheapest 25%
P/S (TTM) 0.27× · Cheapest 25%
EV/EBITDA 2.5× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)88 · sector 0
FUTURE (revenue growth)0 · sector 24
PAST (return on equity)0 · sector 19
HEALTH (low debt)97 · sector 94
DIVIDEND (yield)6 · sector 31

Context: sector, industry, market

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

Similar stocks

10 more Chemicals stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
BASF SE BAS €51.79 €23.76 −54%
Saudi Basic Industries Corporation 2010 47.90 SAR 24.66 SAR −49%
Ningxia Baofeng Energy Group 600989 ¥23.21 ¥40.44 +74%
Dow Inc DOW $28.20 $21.03 −25%
Zhejiang Juhua Co 600160 ¥34.61 ¥19.88 −43%
Rongsheng Petrochemical Co 002493 ¥13.13 ¥2.90 −78%
Zangge Mining Company 000408 ¥73.50 ¥80.85 +10%
Ganfeng Lithium Group 002460 ¥46.39 ¥16.17 −65%
PT Barito Pacific Tbk, BRPT 1,620 IDR 1,581 IDR −2%
Hengli Petrochemical Co 600346 ¥16.54 ¥43.28 +162%

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Cite: Fair Value Calculator (2026). "Anhui Hwasu Co.Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/600935

Frequently asked questions

Is Anhui Hwasu Co.Ltd. (600935) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ¥3.26 versus a price of ¥2.31, about +41% upside (undervalued).
What is the fair value of 600935?
Our model-based fair value for Anhui Hwasu Co.Ltd. is ¥3.26 (as of Sep 24, 2026), built from audited fundamentals. The current price: ¥2.31.
What is the quality score of 600935?
Anhui Hwasu Co.Ltd. has a Quality Score of 42/100. 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 price target for Anhui Hwasu Co.Ltd. (600935)?
Our model-based price target is the fair value of ¥3.26 (as of Sep 24, 2026) from 5 valuation models. Cautious scenario ¥2.44, optimistic scenario ¥4.08. It is a calculation from audited fundamentals, not an analyst target.
What is the Anhui Hwasu Co.Ltd. stock forecast for 2026?
Our models put fair value at ¥3.26, about +41% upside versus a price of ¥2.31 (undervalued). Cautious scenario ¥2.44, optimistic scenario ¥4.08. The calculation is refreshed regularly with new filings.
What is the revenue of Anhui Hwasu Co.Ltd. (600935)?
Anhui Hwasu Co.Ltd. reported trailing-twelve-month revenue of about 4.6B CNY (latest available figure, as of Sep 24, 2026).
Does Anhui Hwasu Co.Ltd. pay a dividend?
Anhui Hwasu Co.Ltd. currently shows a dividend yield of about 0.30% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Anhui Hwasu Co.Ltd. (600935)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Anhui Hwasu Co.Ltd. it is ¥3.26 per share (as of Sep 24, 2026), against a price of ¥2.31. It is the blended result of 5 valuation models (cash flow, earnings, asset, dividend).
Is Anhui Hwasu Co.Ltd. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 600935 trades below its calculated fair value: price ¥2.31, fair value ¥3.26, a gap of about +41% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 600935?
No. The price is what the market pays today (¥2.31); the fair value is what the company's own numbers justify (¥3.26). For Anhui Hwasu Co.Ltd. the two are ¥0.9500 per share apart. That gap is exactly why we show both numbers side by side.
How much is Anhui Hwasu Co.Ltd. worth?
The market values Anhui Hwasu Co.Ltd. at about 8.3B CNY (market capitalisation, as of Sep 24, 2026). Per share that is ¥2.31; our models calculate a fair value of ¥3.26 per share.
What do the bullish and bearish scenarios say about 600935?
Our models span a range for Anhui Hwasu Co.Ltd.: cautious scenario ¥2.44, base ¥3.26, optimistic ¥4.08 per share (as of Sep 24, 2026, price ¥2.31). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Anhui Hwasu Co.Ltd. (600935)?
Balance-sheet figures for Anhui Hwasu Co.Ltd. (as of Sep 24, 2026): return on equity −1.9%, debt of 0.06 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is 600935 from its 52-week high?
Anhui Hwasu Co.Ltd. trades at ¥2.31, about 30% below its 52-week high of ¥3.31 and 5% above the low of ¥2.20 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of ¥3.26 is for.
Which stocks are comparable to Anhui Hwasu Co.Ltd.?
From the same area (Basic Materials) we also value BASF SE, Saudi Basic Industries Corporation, Ningxia Baofeng Energy Group, Dow Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Anhui Hwasu Co.Ltd. stock attractive at the current price?
The data as of Sep 24, 2026: price ¥2.31, calculated fair value ¥3.26 (+41%), Quality Score 42/100, from 5 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 600935 calculated?
We run Anhui Hwasu Co.Ltd. through 5 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥3.26, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Anhui Hwasu Co.Ltd. currently trades 41 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Anhui Hwasu Co.Ltd. (600935)?
The closing price on Sep 23, 2026 was ¥2.31. Our model-based fair value is ¥3.26, about +41% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Anhui Hwasu Co.Ltd. right now?
The large discount to fair value meets weak quality (42/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (¥2.44). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Anhui Hwasu Co.Ltd.

How large is the market capitalisation of Anhui Hwasu Co.Ltd. (600935)?
The market capitalisation of Anhui Hwasu Co.Ltd. is 8.3B CNY (≈ $1.2B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Anhui Hwasu Co.Ltd. (600935)?
The price-to-sales ratio of Anhui Hwasu Co.Ltd. is 1.80 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Anhui Hwasu Co.Ltd. (600935)?
Earnings per share at Anhui Hwasu Co.Ltd. are ¥−0.0200. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Anhui Hwasu Co.Ltd. (600935)?
The dividend yield of Anhui Hwasu Co.Ltd. is 0.3%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Anhui Hwasu Co.Ltd. (600935)?
The net margin of Anhui Hwasu Co.Ltd. is −3.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Anhui Hwasu Co.Ltd. (600935)?
The return on equity (ROE) of Anhui Hwasu Co.Ltd. is −1.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Anhui Hwasu Co.Ltd. (600935)?
On an EBIT basis the return on assets of Anhui Hwasu Co.Ltd. is 2.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Anhui Hwasu Co.Ltd. (600935)?
The operating margin of Anhui Hwasu Co.Ltd. is 0.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Anhui Hwasu Co.Ltd. (600935)?
Revenue at Anhui Hwasu Co.Ltd. is growing −8.0% versus a year earlier (3y avg −11.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Anhui Hwasu Co.Ltd. (600935)?
Earnings per share at Anhui Hwasu Co.Ltd. are growing −87.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Anhui Hwasu Co.Ltd. (600935) generate?
The free cash flow of Anhui Hwasu Co.Ltd. is −129M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Anhui Hwasu Co.Ltd. (600935) carry?
The net debt of Anhui Hwasu Co.Ltd. is 46.8M CNY (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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