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Anhui Hwasu Co (600935) Fair Value & Analysis

Basic Materials · CN · Market cap 8.2B CNY

AH Anhui Hwasu Co 600935 · SHG
Price¥2.29
Fair Value¥3.26
Upside+42.4%
Quality42/100
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Weak Growth
Loss-making · -2.5% net margin
Low debt · negative free cash flow
Mixed vs. peers (5/11)
Narrow moat 17/100
Evidence: Low Range ¥2.44 – ¥4.08 Share as image

Fair value as of: Aug 9, 2026

From 5 valuation models · updated yesterday

Fair value updated Aug 9, 2026, revised from ¥1.63 to ¥3.26 (+100.0%) since Jul 24, 2026. Share price +2.2% over the past month.

Below-average quality, screening 42% undervalued on our models.

What matters 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.
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Price vs Fair Value (5 years)

¥8.96 ¥2.01 Fair Value ¥3.26 Nov 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

56‑month range ¥2.01 – ¥8.96 · fair‑value band ¥2.44 – ¥4.08 · the ¥2.29 price screens below the ¥3.26 fair value. Dashed = 300-day average. As of Aug 9, 2026.

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Analysis

Anhui Hwasu Co (600935) currently trades at ¥2.29, while our model-based Fair Value estimate is ¥3.26, implying the stock looks roughly 42.4% undervalued today. The Quality Score stands at 42/100 (below-average quality), in the Basic Materials 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: low), always confirm before acting.

Over the trailing twelve months, Anhui Hwasu Co generated revenue of 4.6B CNY at a net margin of -2.5%. Revenue declined 8.0% year over year. It earns a return on equity of -1.9%. Net debt stands at 46.8M CNY. Fundamentals as of Aug 9, 2026

Our scenario range runs from ¥2.44 (bear case) to ¥4.08 (bull case); at ¥2.29, the current price sits below 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 33% below its 52-week high and 1% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -46% fair-value upside, at 42%, 600935 screens cheaper 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
Gordon GGM ¥0.0600 ¥0.0700 ¥0.0700 70
DDM Multi-Stage ¥0.0600 ¥0.0700 ¥0.0900 61
EV/EBITDA ¥1.22 ¥1.63 ¥2.04 54
All 5 models by family
DCF Models
Owner Earnings ¥0.3600 ¥0.5000 ¥0.7400 31
Dividend Discount
Gordon GGM ¥0.0600 ¥0.0700 ¥0.0700 70
DDM Multi-Stage ¥0.0600 ¥0.0700 ¥0.0900 61
Multiples
EV/EBITDA ¥1.22 ¥1.63 ¥2.04 54
Asset-Based
NCAV (Graham) ¥0.8300 ¥1.11 ¥1.66 50

Widest divergence: Multiples (¥1.63) versus Dividend Discount (¥0.0700). Highest evidence: Gordon GGM (70).

Key figures & financial health

Revenue (TTM) 4.6B CNY
Revenue growth (YoY) -8.0%
Net margin -2.5%
Return on equity -1.9%
Free cash flow −129M CNY FY2025
Operating margin 0.8%
More key figures
EPS (TTM) ¥-0.0200
EPS growth (YoY) -87.2%
Net debt 46.8M CNY FY2025

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

Quality Score breakdown

Overall quality 42/100

Of which business quality 41 · Market factors (momentum, volatility) 37

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 79
Calm price path (market factor)
Momentum 22
Price trend over the last 3–12 months (market factor)
52W Momentum 15
Distance to the 52-week high (market factor)
Net Issuance 65
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

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.

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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

Growth Quality 1/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
4.7B CNY
Latest YoY
−8.9%
Avg. growth/yr (3Y)
−11.6%
Avg. growth/yr (5Y)
−1.7%
Avg. growth/yr (6Y)
+0.3%
Revenue −8.8%/yr
FY21 ¥6.7B
FY22 ¥6.7B
FY23 ¥5.6B
FY24 ¥5.1B
FY25 ¥4.7B
Net income
FY21 ¥785M
FY22 ¥422M
FY23 ¥30.2M
FY24 −¥429M
FY25 −¥154M

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

Peer Group

Chemicals · 334 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 42 · Below median
Fair Value upside +42% · Top 25%
Return on assets -1% · Bottom 25%
Net margin (TTM) -2% · Bottom 25%
Operating margin (TTM) 1% · Bottom 25%
Revenue growth -8% · Bottom 25%
Debt / equity 0.06× · Lower than median

Valuation Multiples vs Chemicals median · lower = cheaper

P/B 0.21× · Cheaper than 75% of peers
P/S (TTM) 0.27× · Cheaper than 75% of peers
EV/EBITDA 2.5× · Cheaper 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 90 · sector 0
FUTURE 0 · sector 20
PAST 0 · sector 19
HEALTH 97 · sector 94
DIVIDEND 0 · sector 27

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

Stock Price Fair Value vs Fair Value
BASF SE BASN 1,034 MXN 532.13 MXN -49%
Ningxia Baofeng Energy Group 600989 ¥20.32 ¥20.17 -1%
Zhejiang Juhua Co 600160 ¥42.85 ¥23.35 -46%
PT Barito Pacific Tbk, BRPT 1,690 IDR 1,628 IDR -4%
LG Chem, Ltd 051910 260,500 KRW 587,755 KRW +126%
Formosa Chemicals & Fibre Corporation 1326 66.10 TWD 6.79 TWD -90%
PTT Global Chemical Public Company PTTGC 35.50 THB 18.21 THB -49%
542812 542812 ₹4,369 ₹791.05 -82%
Indorama Ventures Public Company IVL 24.50 THB 17.95 THB -27%
Navin Fluorine International Limited NAVINFLUOR ₹8,650 ₹2,146 -75%

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Frequently asked questions

Is Anhui Hwasu Co (600935) overvalued or undervalued?
As of Aug 9, 2026, our model estimates a fair value of ¥3.26 versus a price of ¥2.29, about +42% (undervalued).
What is the fair value of 600935?
Our model-based fair value for Anhui Hwasu Co is ¥3.26 (as of Aug 9, 2026), built from audited fundamentals. The current price is ¥2.29.
What is the quality score of 600935?
Anhui Hwasu Co 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 revenue of Anhui Hwasu Co (600935)?
Anhui Hwasu Co reported trailing-twelve-month revenue of about 4.6B CNY (latest available figure, as of Aug 9, 2026).
What is the net profit margin of 600935?
The net profit margin of Anhui Hwasu Co is about -2.5%, meaning it is currently running at a net loss. 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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