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ZheJiang AoKang Shoes Co (603001) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 2.9B CNY

ZA ZheJiang AoKang Shoes Co 603001 · SHG
Price¥7.13
Fair Value¥6.59
Upside-7.6%
Quality58/100
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Weak Growth
Loss-making · -9.7% net margin
Low debt · generates free cash flow
Mixed vs. peers (5/11)
Narrow moat 15/100
Evidence: Medium Range ¥4.86 – ¥8.32 Share as image

Fair value as of: Aug 10, 2026

From 9 valuation models · updated today

Share price −14.9% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from ¥4.86 (bear) to ¥8.32 (bull), base ¥6.59. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 58/100 (solid quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

¥14.14 ¥3.89 Fair Value ¥6.59 Mar 2021 Aug 2026

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 ¥3.89 – ¥14.14 · fair‑value band ¥4.86 – ¥8.32 · the ¥7.13 price screens above the ¥6.59 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 10, 2026.

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Analysis

ZheJiang AoKang Shoes Co (603001) currently trades at ¥7.13, while our model-based Fair Value estimate is ¥6.59, implying the stock looks roughly 7.6% fairly valued today. The Quality Score stands at 58/100 (solid quality), in the Consumer Cyclical 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: medium).

Over the trailing twelve months, ZheJiang AoKang Shoes Co generated revenue of 1.8B CNY at a net margin of -9.7%. Revenue declined 27.6% year over year. It earns a return on equity of -7.0%. The balance sheet holds a net cash position of 334M CNY. Fundamentals as of Aug 10, 2026

Our scenario range runs from ¥4.86 (bear case) to ¥8.32 (bull case); at ¥7.13, 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 39% below its 52-week high and 21% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 0% fair-value upside, at -8%, 603001 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.

Model BearBaseBull Evidence
Highest evidence
Growth DCF ¥10.87 ¥14.32 ¥20.04 80
Rev-Margin DCF ¥6.80 ¥8.93 ¥11.63 74
Gordon GGM ¥1.36 ¥1.49 ¥1.67 70
All 9 models by family
DCF Models
FCF DCF ¥10.46 ¥14.04 ¥20.46 38
5Y Revenue Exit ¥6.80 ¥8.69 ¥11.42 39
10Y Revenue Exit ¥8.11 ¥9.63 ¥11.17 36
Dividend Discount
Gordon GGM ¥1.36 ¥1.49 ¥1.67 70
DDM Multi-Stage ¥1.36 ¥1.68 ¥2.12 61
Multiples
EV/Revenue ¥4.70 ¥6.43 ¥8.15 43
Asset-Based
NCAV (Graham) ¥2.92 ¥3.92 ¥5.85 50
Growth DCF
Growth DCF ¥10.87 ¥14.32 ¥20.04 80
Rev-Margin DCF ¥6.80 ¥8.93 ¥11.63 74

Widest divergence: DCF Models (¥9.63) versus Dividend Discount (¥1.49). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 1.8B CNY
Revenue growth (YoY) -27.6%
Net margin -9.7%
Return on equity -7.0%
Free cash flow 424M CNY FY2025
Operating margin 1.9%
More key figures
EPS (TTM) ¥-0.4300
EPS growth (YoY) -46.4%
Net cash 334M CNY FY2024

Figures from reported company fundamentals · as of Aug 10, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 62 · Market factors (momentum, volatility) 28

Profitability 16
Margins and returns on capital today
Quality Growth 7
Are margins and returns improving?
Cashflow 89
Earnings quality: real cash, not paper profit
Fin. Strength 88
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 18
Price trend over the last 3–12 months (market factor)
52W Momentum 19
Distance to the 52-week high (market factor)
Net Issuance 75
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

ZheJiang AoKang Shoes Co.,Ltd. engages in the manufacture, sale and retail of shoes and shoemaking materials, leather goods, and clothing. It also offers technical consultation and technical services for shoemaking technology, as well as import and export business. In addition, the company provides warehousing services and after-sales services.

Full company description

ZheJiang AoKang Shoes Co.,Ltd. engages in the manufacture, sale and retail of shoes and shoemaking materials, leather goods, and clothing. It also offers technical consultation and technical services for shoemaking technology, as well as import and export business. In addition, the company provides warehousing services and after-sales services. It offers its products under the Aokang, Kanglong, Skechers, and Puma brands. The company was founded in 1988 and is based in Yongjia, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ZheJiang AoKang Shoes Co reported revenue of ¥1.9B in FY2025 versus ¥3.0B in FY2021, a compound −10.2%/yr. Reported net income was −¥241M in FY2025.

Growth Quality 23/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.9B CNY
Latest YoY
−24.2%
Avg. growth/yr (3Y)
−11.3%
Avg. growth/yr (5Y)
−6.8%
Avg. growth/yr (17Y)
+3.5%
Revenue −10.2%/yr
FY21 ¥3.0B
FY22 ¥2.8B
FY23 ¥3.1B
FY24 ¥2.5B
FY25 ¥1.9B
Net income
FY21 ¥34.1M
FY22 −¥374M
FY23 −¥93.3M
FY24 −¥216M
FY25 −¥241M

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Cite: Fair Value Calculator (2026). "ZheJiang AoKang Shoes Co Fair Value". https://www.fairvalue-calculator.com/stock/603001

Peer Group

Footwear & Accessories · 94 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 58 · Above median
Fair Value upside −8% · Above median
Return on assets -4% · Bottom 25%
Net margin (TTM) -10% · Bottom 25%
Operating margin (TTM) 2% · Below median
Revenue growth -28% · Bottom 25%
Debt / equity 0.15× · Higher than median

Valuation Multiples vs Footwear & Accessories median · lower = cheaper

P/B 0.18× · Cheaper than 75% of peers
P/S (TTM) 0.24× · Cheaper than 75% of peers
P/FCF 1.0× · Cheaper than median

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 23 · sector 4
FUTURE 0 · sector 0
PAST 0 · sector 23
HEALTH 93 · sector 97
DIVIDEND 0 · sector 41

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 Footwear & Accessories stocks, each showing price versus our Fair Value estimate (as of Aug 10, 2026).

Stock Price Fair Value vs Fair Value
NIKE, Inc NKE $44.37 $35.63 -20%
adidas AG 1ADS €165.00 €65.71 -60%
Deckers Outdoor Corporation DECK $106.49 $125.16 +18%
On Holding ONON $38.20 $17.64 -54%
Zhejiang China Commodities City Group 600415 ¥12.11 ¥13.03 +8%
Birkenstock Holding BIRK $44.36 $44.14 -0%
Crocs, Inc CROX $138.91 $203.65 +47%
Huali Industrial Group 300979 ¥31.10 ¥54.71 +76%
PUMA SE PUM €29.31 €10.57 -64%
Steven Madden, Ltd SHOO $43.26 $11.69 -73%

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Frequently asked questions

Is ZheJiang AoKang Shoes Co (603001) overvalued or undervalued?
As of Aug 10, 2026, our model estimates a fair value of ¥6.59 versus a price of ¥7.13, about −8% (fairly valued).
What is the fair value of 603001?
Our model-based fair value for ZheJiang AoKang Shoes Co is ¥6.59 (as of Aug 10, 2026), built from audited fundamentals. The current price is ¥7.13.
What is the quality score of 603001?
ZheJiang AoKang Shoes Co has a Quality Score of 58/100. 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 ZheJiang AoKang Shoes Co (603001)?
ZheJiang AoKang Shoes Co reported trailing-twelve-month revenue of about 1.8B CNY (latest available figure, as of Aug 10, 2026).
What is the net profit margin of 603001?
The net profit margin of ZheJiang AoKang Shoes Co is about -9.7%, 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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