Dongxing Securities Corporation (601198) Fair Value & Analysis
Financial Services · CN · Market cap 44.6B CNY
Fair value as of: Aug 8, 2026
From 2 valuation models · updated 2 days ago
Share price +0.1% over the past month.
A solid business, but screening 20% overvalued on our models.
What matters now
- Solid but not exceptional quality (60/100) 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 8, 2026.
How to read this chart
60‑month range ¥7.27 – ¥14.44 · fair‑value band ¥8.29 – ¥13.82 · the ¥13.80 price screens above the ¥11.05 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 8, 2026.
Analysis
Dongxing Securities Corporation (601198) currently trades at ¥13.80, while our model-based Fair Value estimate is ¥11.05, implying the stock looks roughly 19.9% overvalued today. The Quality Score stands at 60/100 (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, Dongxing Securities Corporation generated revenue of 4.5B CNY at a net margin of 46.3%. Revenue declined 12.8% year over year. It earns a return on equity of 6.7%. Net debt stands at 52.0B CNY. Fundamentals as of Aug 8, 2026
Our scenario range runs from ¥8.29 (bear case) to ¥13.82 (bull case); at ¥13.80, 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 6% below its 52-week high and 32% 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 -20%, 601198 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.
All 2 models by family
Widest divergence: Multiples (¥8.74) versus Asset-Based (¥6.89). Highest evidence: P/B Multiple (55).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 8, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 57 · Market factors (momentum, volatility) 63
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
Dongxing Securities Corporation Limited operates as a securities company in China. It operates through Wealth Management Business; Investment and Trading Business; Investment Banking Business; Asset Management Business, and Other Businesses segments.
Full company description
Dongxing Securities Corporation Limited operates as a securities company in China. It operates through Wealth Management Business; Investment and Trading Business; Investment Banking Business; Asset Management Business, and Other Businesses segments. The company offers investment banking services, such as issuance and underwriting of securities, including stocks, bonds, and derivatives; corporate restructuring and reform; mergers and acquisitions financial advisory services; and asset securitization. It is also involved in equity investment, alternative investment, and fixed-income investment using its funds; securities firm asset management business; private fund management business; public fund management business; overseas business; and futures business. The company was founded in 2008 and is headquartered in Beijing, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Dongxing Securities Corporation reported revenue of ¥4.7B in FY2025 versus ¥7.0B in FY2021, a compound −9.8%/yr. Reported net income was ¥2.1B in FY2025, compounding +6.2%/yr from FY2021.
601198 screens 20% 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.
Similar stocks
10 more Capital Markets stocks, each showing price versus our Fair Value estimate (as of Aug 8, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Huatai Securities Co HTSC | $0.2700 | $0.0400 | -85% |
| Mirae Asset Securities Co 006800 | 38,750 KRW | 31,645 KRW | -18% |
| Meritz Financial Group 138040 | 117,000 KRW | 87,706 KRW | -25% |
| Korea Investment Holdings 071050 | 239,000 KRW | 318,825 KRW | +33% |
| NH Investment & Securities Co 005940 | 31,000 KRW | 37,133 KRW | +20% |
| Samsung Securities Co 016360 | 107,700 KRW | 126,487 KRW | +17% |
| Motilal Oswal Financial Services Limited MOTILALOFS | ₹967.00 | ₹299.65 | -69% |
| Kiwoom Securities Co 039490 | 322,000 KRW | 358,091 KRW | +11% |
| SSI Securities Corporation SSI | 24,250 VND | 28,021 VND | +16% |
| Bolsas y Mercados Argentinos S.A BYMA | 313.75 ARS | 120.22 ARS | -62% |
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Price, fair value, quality and upside side by side.
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Frequently asked questions
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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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