Zhongce Rubber Group Co Ltd (603049) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Zhongce Rubber Group Co Ltd stock ¥57.46, price ¥39.59, upside +45.1%, quality 40 out of 100. Rating: undervalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
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Zhongce Rubber Group Co Ltd
603049 · SHGThe stock costs 31% 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 2, 2026.
How to read this chart
17‑month range ¥37.01 – ¥59.02 · fair‑value band ¥40.23 – ¥74.70 · the ¥39.59 price screens below the ¥57.46 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 2, 2026.
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Company profile
Zhongce Rubber Group Co., Ltd. engages in the research and development, production, and sale of tire products in China.
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The company offers all-steel tires used in heavy-duty trucks, long-distance passenger vehicles, and engineering machinery vehicle; semi-steel tires mainly used in passenger cars such as sedans, SUVs, and commercial vehicles; bias tires, including agricultural and pneumatic tires for industrial vehicles; and solid tires for industrial vehicle.
It also provides agricultural tires, industrial vehicle pneumatic tires, Industrial vehicle solid tires, suitable for agricultural machinery, loading Machine, mining dump truck, small excavator, and port machinery vehicle; and motorcycle tires, bicycle tires, and rickshaw tires, which are suitable for two-wheeled vehicles, such as motorcycles, electric vehicles, and bicycles.
The company sells its products under the CHAOYANG, GOODYNKEN, WEISHI, QIANNUO, YADU, GOODRIDE, CHAOYANG. and TRAZANO brands. It also exports its products to Europe, America, Africa, Oceania, Southeast Asia, and the Middle East.
Zhongce Rubber Group Co., Ltd. was founded in 1958 and is based in Hangzhou, China.
Stock analysis
Zhongce Rubber Group Co Ltd (603049) currently trades at ¥39.59, while our model-based Fair Value estimate is ¥57.46, implying the stock looks roughly 31% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of ¥93.51 per share, and 12 of the 16 models we run sit above the ¥39.59 price.
Bear case: the Asset-Based group reads lowest at ¥17.95, and 4 of the 16 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ¥40.23 (bear) to ¥74.70 (bull), the price of ¥39.59 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 40/100 (below-average quality), in the Consumer Cyclical sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Zhongce Rubber Group Co Ltd reported revenue of 45.0B CNY in FY2025 versus 30.6B CNY in FY2021, a compound +10.1%/yr. Reported net income was 4.1B CNY in FY2025, compounding +31.8%/yr from FY2021.
Key figures
Market cap 34.6B CNY (≈ $5.2B) Mid · P/E ratio 8.2 · P/S ratio 0.74 · EPS (TTM) ¥4.84 · Dividend yield 4.1% · Net margin 9.2% · Return on equity 17.7% · Return on assets (EBIT) 7.2% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 54 out of 100 (low confidence).
What moves the price
The share trades about 33% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −23% fair-value upside, at 45%, 603049 screens cheaper than that median.
Fair Value models
All 16 models by family
The fair value above starts from this blend and is adjusted for a cyclical peak year.
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 Zhongce Rubber Group 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.Auto Parts · 656 stocks
Valuation Multiplesvs Auto Parts median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Dividend yield by industry
- EV/EBITDA by industry
- PEG screener for stocks with fair value
- Undervalued stocks: Industrials
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Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
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| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Magna International Inc MGA | $61.86 | $98.98 | +60% | vs 603049 |
| Hyundai Mobis Co 012330 | 349,000 KRW | 534,994 KRW | +53% | vs 603049 |
| Genuine Parts Company GPC | $122.80 | $115.96 | −6% | vs 603049 |
| Knorr-Bremse AG KBX | €94.45 | €72.88 | −23% | vs 603049 |
| AutoZone, Inc AZO | $3,216 | $2,468 | −23% | vs 603049 |
| Fuyao Glass Industry Group 600660 | ¥55.92 | ¥40.74 | −27% | vs 603049 |
| Ningbo Tuopu Group 601689 | ¥44.71 | ¥32.24 | −28% | vs 603049 |
| Samvardhana Motherson International Limited MOTHERSON | ₹158.55 | ₹96.06 | −39% | vs 603049 |
| O'Reilly Automotive, Inc ORLY | $89.89 | $48.66 | −46% | vs 603049 |
| Bosch Limited BOSCHLTD | ₹50,700 | ₹25,168 | −50% | vs 603049 |
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Key figures of Zhongce Rubber Group Co Ltd
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