Industrial Securities Co (601377) Fair Value & Analysis

Financial Services · CN · Market cap 50.9B CNY

A solid business, but screening 14% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (¥5.40). The favourable scenario is already priced in.
• Solid but not exceptional quality (56/100) 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 10, 2026.

How to read this chart

60‑month range ¥4.86 – ¥10.74 · fair‑value band ¥3.24 – ¥5.40 · the ¥5.89 price screens above the ¥5.06 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 10, 2026.

Full chart & analysis →

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Analysis

Industrial Securities Co (601377) currently trades at ¥5.89, while our model-based Fair Value estimate is ¥5.06, implying the stock looks roughly 14.1% overvalued today. The Quality Score stands at 56/100 (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, Industrial Securities Co generated revenue of 11.9B CNY at a net margin of 26.4%. Revenue grew 7.6% year over year. It earns a return on equity of 6.2%. Net debt stands at 159B CNY. Fundamentals as of Aug 10, 2026

Our scenario range runs from ¥3.24 (bear case) to ¥5.40 (bull case); at ¥5.89, the current price sits above 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 26% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 11% fair-value upside, at -14%, 601377 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: Growth DCF (¥76.03) versus Dividend Discount (¥2.41). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

Industrial Securities Co.,Ltd. operates as a securities company in China and internationally. It operates through Wealth Management Business, Institutional Services Business, and Proprietary Investment Business segments.

Full company description

Industrial Securities Co.,Ltd. operates as a securities company in China and internationally. It operates through Wealth Management Business, Institutional Services Business, and Proprietary Investment Business segments. The company provides securities and futures brokerage services, such as buying and selling stocks, funds, bonds, futures, options; sales of financial products; fund investment advisory services; margin trading; stock-pledged repurchase; and equity incentive financing. It also offers asset management, fund asset management, and private equity fund management services; securities research and sales trading services, asset custody and fund services, and institutional trading services; as well as equity financing, debt financing, financial advisory services, financing for small and medium-sized enterprises, and regional equity market services. In addition, it provides proprietary investment and trading of various products, including stocks, bonds, derivatives, equities, and alternative investments. The company was founded in 1991 and is headquartered in Fuzhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Industrial Securities Co reported revenue of ¥18.2B in FY2025 versus ¥21.9B in FY2021, a compound −4.6%/yr. Reported net income was ¥2.9B in FY2025, compounding −11.8%/yr from FY2021.

601377 screens 14% 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.