Bank of Chengdu Co Ltd (601838) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Bank of Chengdu Co Ltd stock ¥28.45, price ¥19.86, upside +43.3%, quality 59 out of 100. Rating: undervalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
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Bank of Chengdu Co Ltd
601838 · SHGThe stock costs 30% less than our calculation considers fair.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 1, 2026.
How to read this chart
60‑month range ¥9.51 – ¥20.88 · fair‑value band ¥22.73 – ¥37.88 · the ¥19.86 price screens below the ¥28.45 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 1, 2026.
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Company profile
Bank of Chengdu Co., Ltd. provides various banking products and services in China. The company operates through three segments: Corporate Banking, Personal Banking, and Fund Operation Sales.
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It offers savings; accounts; fixed, education savings, lumpsum, and corporate deposits; wealth management; fund products; agency treasury bonds; debit and credit cards; and personal, syndicated, working capital, fixed asset, real estate development, specialized corporate, entrusted, enterprise, science and technology enterprise, and full garden loans.
The company also provides investment banking, including structured financing, mergers and acquisitions financing, credit bond underwriting, asset securitization, capital markets, and local debt and transaction matching advisors; foreign exchange; remittance; international settlement and trade finance; documentation services contact information; financial markets; treasury management; bill of exchange; guarantee; and asset custody.
In addition, it offers account and settlement services; bill financing; government-bank linkage; and electronic banking, such as online, mobile, and telephone banking.
The company was formerly known as Chengdu City Commercial Bank Co., Ltd. and changed its name to Bank of Chengdu Co., Ltd. in May 2008. Bank of Chengdu Co., Ltd. was founded in 1996 and is headquartered in Chengdu, China.
Stock analysis
Bank of Chengdu Co Ltd (601838) currently trades at ¥19.86, while our model-based Fair Value estimate is ¥28.45, implying the stock looks roughly 30% undervalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of ¥28.45 per share, and 3 of the 6 models we run sit above the ¥19.86 price.
Bear case: the Asset-Based group reads lowest at ¥15.70, and 3 of the 6 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ¥22.73 (bear) to ¥37.88 (bull), the price of ¥19.86 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 59/100 (solid quality), in the Financial Services sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Bank of Chengdu Co Ltd reported revenue of 23.5B CNY in FY2025 versus 32.5B CNY in FY2021, a compound −7.8%/yr. Reported net income was 13.3B CNY in FY2025, compounding +14.1%/yr from FY2021.
Key figures
Market cap 84.2B CNY (≈ $12.6B) Large · P/E ratio 6.5 · P/S ratio 3.88 · EPS (TTM) ¥3.06 · Dividend yield 7.1% · Net margin 62.5% · Return on equity 14.2% · Return on assets (EBIT) 1.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 69 out of 100 (low confidence).
What moves the price
The share trades about 2% below its 52-week high and 28% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −35% fair-value upside, at 43%, 601838 screens cheaper than that median.
Fair Value models
All 6 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
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Compare Bank of Chengdu Co Ltd with another stock
Price, fair value, quality and upside side by side.
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.Banks - Regional · 1002 stocks
Valuation Multiplesvs Banks - Regional median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Financials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- P/S ratio by industry
- EBIT margin by industry
- Piotroski F-Score screener with fair value
- Undervalued stocks: Chinese Stocks
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Postal Savings Bank of China Co 601658 | ¥5.52 | ¥7.59 | +38% | vs 601838 |
| China Merchants Bank Co 600036 | ¥42.54 | ¥52.73 | +24% | vs 601838 |
| BNP Paribas SA BNP | €91.94 | €106.01 | +15% | vs 601838 |
| Intesa Sanpaolo S.p.A ISP | €6.27 | €4.59 | −27% | vs 601838 |
| UniCredit S.p.A UCG | €77.18 | €50.44 | −35% | vs 601838 |
| Oversea-Chinese Banking Corporation O39 | 27.93 SGD | 18.20 SGD | −35% | vs 601838 |
| Mizuho Financial Group MFG | $9.80 | $5.90 | −40% | vs 601838 |
| DBS Group D05 | 71.20 SGD | 40.39 SGD | −43% | vs 601838 |
| HDFC Bank Limited HDFCBANK | ₹760.00 | ₹406.39 | −47% | vs 601838 |
| ICICI Bank Limited ICICIBANK | ₹1,500 | ₹615.63 | −59% | vs 601838 |
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Key figures of Bank of Chengdu Co Ltd
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