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Shandong Huapeng Glass Co (603021) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 2.1B CNY

SH Shandong Huapeng Glass Co 603021 · SHG
Price¥6.57
Fair Value¥0.8700
Upside-86.8%
Quality37/100
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Weak Growth
Loss-making · -64.8% net margin
Negative equity (buybacks among others) · generates free cash flow
Trails peers (2/10)
Narrow moat 7/100
Evidence: Medium Range ¥0.6700 – ¥1.20 Share as image

Fair value as of: Aug 10, 2026

From 11 valuation models · updated today

Fair value updated Aug 10, 2026, revised from ¥0.8900 to ¥0.8700 (−2.2%) since Jul 11, 2026. Share price −6.1% over the past month.

Below-average quality, and screening another 87% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥1.20). The favourable scenario is already priced in.
  • Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

¥8.57 ¥2.38 Fair Value ¥0.8700 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 ¥2.38 – ¥8.57 · fair‑value band ¥0.6700 – ¥1.20 · the ¥6.57 price screens above the ¥0.8700 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

Shandong Huapeng Glass Co (603021) currently trades at ¥6.57, while our model-based Fair Value estimate is ¥0.8700, implying the stock looks roughly 86.8% overvalued today. The Quality Score stands at 37/100 (below-average 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, Shandong Huapeng Glass Co generated revenue of 394M CNY at a net margin of -37.0%. Revenue grew 4.5% year over year. Net debt stands at 367M CNY. Fundamentals as of Aug 10, 2026

Our scenario range runs from ¥0.6700 (bear case) to ¥1.20 (bull case); at ¥6.57, 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 90% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -22% fair-value upside, at -87%, 603021 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 Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ¥0.6800 ¥0.8700 ¥1.19 80
Rev-Margin DCF ¥0.6300 ¥0.8700 ¥1.16 74
Gordon GGM ¥0.6400 ¥0.7000 ¥0.7800 70
All 11 models by family
DCF Models
FCF DCF ¥0.6600 ¥0.8600 ¥1.21 38
5Y Revenue Exit ¥0.6300 ¥0.8600 ¥1.19 39
5Y EBITDA Exit ¥0.6700 ¥0.9200 ¥1.26 41
10Y Revenue Exit ¥0.6300 ¥0.7900 ¥0.9700 36
10Y EBITDA Exit ¥0.6600 ¥0.8300 ¥1.01 37
Dividend Discount
Gordon GGM ¥0.6400 ¥0.7000 ¥0.7800 70
DDM Multi-Stage ¥0.6400 ¥0.7900 ¥0.9900 61
Multiples
EV/EBITDA ¥0.7700 ¥0.9800 ¥1.19 54
EV/Revenue ¥0.6500 ¥0.8800 ¥1.10 43
Growth DCF
Growth DCF ¥0.6800 ¥0.8700 ¥1.19 80
Rev-Margin DCF ¥0.6300 ¥0.8700 ¥1.16 74

Widest divergence: Multiples (¥0.8800) versus Dividend Discount (¥0.7000). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 394M CNY
Revenue growth (YoY) +4.5%
Net margin -37.0%
Return on equity -789%
Free cash flow 18.5M CNY FY2025
Operating margin -17.5%
More key figures
EPS (TTM) ¥-0.7300
Net debt 367M CNY FY2025

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

Quality Score breakdown

Overall quality 37/100

Of which business quality 35 · Market factors (momentum, volatility) 68

Profitability 3
Margins and returns on capital today
Quality Growth 30
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 3
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 58
Calm price path (market factor)
Momentum 68
Price trend over the last 3–12 months (market factor)
52W Momentum 78
Distance to the 52-week high (market factor)
Net Issuance 90
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

Shandong Huapeng Glass Co.,Ltd. researches and develops, produces, and sells various glassware products, glass bottles, and jars in China and internationally.

Full company description

Shandong Huapeng Glass Co.,Ltd. researches and develops, produces, and sells various glassware products, glass bottles, and jars in China and internationally. It offers ware products, including lead-free crystal glass products and molding goblets; fawles products; and bottle products, such as food, wine, liquor, brandy, champagne, beverage, and olive oil bottles under the Shidao brand name. Shandong Huapeng Glass Co.,Ltd. was founded in 2001 and is headquartered in Rongcheng, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shandong Huapeng Glass Co reported revenue of ¥358M in FY2025 versus ¥857M in FY2021, a compound −19.6%/yr. Reported net income was −¥222M in FY2025.

Growth Quality 18/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
358M CNY
Latest YoY
−13.1%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−22.5%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−18.5%
Avg. growth/yr (14Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−4.5%
Revenue −19.6%/yr
FY21 ¥857M
FY22 ¥768M
FY23 ¥543M
FY24 ¥412M
FY25 ¥358M
Net income
FY21 −¥365M
FY22 −¥380M
FY23 −¥292M
FY24 −¥147M
FY25 −¥222M

603021 screens 87% overvalued. Compare with Stora Enso Oyj →

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Cite: Fair Value Calculator (2026). "Shandong Huapeng Glass Co Fair Value". https://www.fairvalue-calculator.com/stock/603021

Peer Group

Packaging & Containers · 272 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 37 · Bottom 25%
Fair Value upside −87% · Bottom 25%
Return on assets -3% · Bottom 25%
Net margin (TTM) -65% · Bottom 25%
Operating margin (TTM) -8% · Bottom 25%
Revenue growth 4% · Above median

Valuation Multiples vs Packaging & Containers median · lower = cheaper

P/S (TTM) 0.86× · Pricier than median
P/FCF 16.8× · Pricier than 75% of peers
EV/EBITDA 26.7× · Pricier than 75% of peers

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 0 · sector 9
FUTURE 22 · sector 1
PAST 0 · sector 21
HEALTH 100 · sector 92
DIVIDEND 0 · sector 42

VALUE 0: the price sits above our fair-value range.

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

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

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PT Fajar Surya Wisesa Tbk, FASW 5,312 IDR 1,194 IDR -78%
Taiwan Hon Chuan Enterprise Co 9939 132.50 TWD 127.06 TWD -4%
Time Technoplast Limited TIMETECHNO ₹206.82 ₹161.42 -22%
EPL Limited 500135 ₹222.25 ₹111.65 -50%
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Dongwon Systems Corporation 014820 19,330 KRW 31,473 KRW +63%

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Frequently asked questions

Is Shandong Huapeng Glass Co (603021) overvalued or undervalued?
As of Aug 10, 2026, our model estimates a fair value of ¥0.8700 versus a price of ¥6.57, about −87% (overvalued).
What is the fair value of 603021?
Our model-based fair value for Shandong Huapeng Glass Co is ¥0.8700 (as of Aug 10, 2026), built from audited fundamentals. The current price is ¥6.57.
What is the quality score of 603021?
Shandong Huapeng Glass Co has a Quality Score of 37/100. 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 Shandong Huapeng Glass Co (603021)?
Shandong Huapeng Glass Co reported trailing-twelve-month revenue of about 394M CNY (latest available figure, as of Aug 10, 2026).
What is the net profit margin of 603021?
The net profit margin of Shandong Huapeng Glass Co is about -37.0%, 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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