Guotai Haitong Securities Co (601211) Fair Value & Analysis
Financial Services · CN · Market cap 328B CNY
Fair value as of: Aug 13, 2026
From 2 valuation models · updated yesterday
Share price −3.4% over the past month.
Below-average quality, and screening another 12% overvalued on our models.
What matters now
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
- Our model range runs from ¥11.87 (bear) to ¥19.78 (bull), base ¥15.83. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 47/100 (below-average quality) with high evidence: the data supports the verdict.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range ¥12.73 – ¥22.29 · fair‑value band ¥11.87 – ¥19.78 · the ¥17.95 price screens above the ¥15.83 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Guotai Haitong Securities Co (601211) currently trades at ¥17.95, while our model-based Fair Value estimate is ¥15.83, implying the stock looks roughly 11.8% overvalued today. The Quality Score stands at 47/100 (below-average 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, Guotai Haitong Securities Co generated revenue of 66.6B CNY at a net margin of 33.0%. Revenue grew 64.1% year over year. It earns a return on equity of 6.8%. Net debt stands at 916B CNY. Fundamentals as of Aug 13, 2026
Our scenario range runs from ¥11.87 (bear case) to ¥19.78 (bull case); at ¥17.95, 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 20% below its 52-week high and 20% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -22% fair-value upside, at -12%, 601211 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.
All 2 models by family
Widest divergence: Multiples (¥19.29) versus Asset-Based (¥15.20). Highest evidence: P/B Multiple (55).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 44 · Market factors (momentum, volatility) 51
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
Guotai Haitong Securities Co., Ltd. provides wealth management, investment banking, institutional and trading, and investment management services in Mainland China, Hong Kong, and internationally.
Full company description
Guotai Haitong Securities Co., Ltd. provides wealth management, investment banking, institutional and trading, and investment management services in Mainland China, Hong Kong, and internationally. It offers securities and futures brokerage, financial products, investment advisory, stock pledging, margin financing and securities lending, and agreed securities repurchase and other services; and sponsorship, equity and debt underwriting, structured debt financing, M&A financial advisory services, and diversified corporate solutions to corporate and government clients. The company also provides research and institutional brokerage services, such as prime brokers, seat leasing, custody and outsourcing, and QFII and other services to institutional clients; trading and investment services, including investment transactions in stocks, fixed income, foreign exchange, large commodities, and their derivative financial instruments, as well as integrated financial solutions for clients' investment, financing, and risk management; and equity investment services. In addition, it offers asset and fund management services to institutions and individuals; and brokerage, research, leasing, and corporate financing services; logistics and catering management; and information consulting services. Further, the company engages in the real estate and property management; warehousing; investment and corporate management consulting; venture capital investment and management; industrial investment; administrative management; foreign exchange dealing; and securities trading activities. The company was formerly known as Guotai Junan Securities Co., Ltd. and changed its name to Guotai Haitong Securities Co., Ltd. in April 2025. The company was founded in 1992 and is based in Shanghai, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Guotai Haitong Securities Co reported revenue of ¥97.8B in FY2025 versus ¥52.4B in FY2021, a compound +16.9%/yr. Reported net income was ¥27.8B in FY2025, compounding +16.7%/yr from FY2021.
of which total revenue +10.7 pp · buybacks/dilution −5.6 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
601211 screens 12% overvalued. Compare with Mirae Asset Securities Co →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Guotai Haitong Securities leverages AI fintech to boost high-quality development of capital market
- Xinhua Silk Road: Guotai Haitong Securities leverages AI fintech to boost high-quality development of capital market
- Guotai Haitong Began to See "1+1>2" Synergy in 2025 Results
- Xinhua Silk Road: Guotai Haitong embraces pleasant sale of USD500 mln H-share exchangeable bonds by HK affiliate
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 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Mirae Asset Securities Co 006800 | 38,050 KRW | 18,009 KRW | -53% |
| Meritz Financial Group 138040 | 118,600 KRW | 52,717 KRW | -56% |
| Korea Investment Holdings 071050 | 200,500 KRW | 189,335 KRW | -6% |
| NH Investment & Securities Co 005940 | 28,550 KRW | 22,396 KRW | -22% |
| Samsung Securities Co 016360 | 93,100 KRW | 75,573 KRW | -19% |
| Kiwoom Securities Co 039490 | 299,000 KRW | 214,812 KRW | -28% |
| SSI Securities Corporation SSI | 25,300 VND | 17,375 VND | -31% |
| Bolsas y Mercados Argentinos S.A BYMA | 313.75 ARS | 294.30 ARS | -6% |
| Daishin Securities Co 003540 | 26,950 KRW | 48,790 KRW | +81% |
| SK Securities Co 001515 | 4,285 KRW | 1,395 KRW | -67% |
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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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