Hangzhou Fortune Gas Cryogenic Group (603173) Fair Value & Analysis

Industrials · CN · Market cap 5.1B CNY

A solid business, screening 75% undervalued on our models.

What matters now

• The price is below even our cautious bear case (¥41.48). The market is more pessimistic than our downside scenario.
• Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality.
• A fairly wide model range (¥41.48 to ¥85.62) leaves room in how you read the outcome.

Price vs Fair Value (4 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

42‑month range ¥14.47 – ¥52.63 · fair‑value band ¥41.48 – ¥85.62 · the ¥31.63 price screens below the ¥55.30 fair value. Dashed = 300-day average. As of Aug 10, 2026.

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Analysis

Hangzhou Fortune Gas Cryogenic Group (603173) currently trades at ¥31.63, while our model-based Fair Value estimate is ¥55.30, implying the stock looks roughly 74.8% undervalued today. The Quality Score stands at 66/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Hangzhou Fortune Gas Cryogenic Group generated revenue of 3.0B CNY at a net margin of 13.2%. Revenue grew 2.5% year over year. It earns a return on equity of 20.8%. The stock trades on a trailing P/E of 13.8. Fundamentals as of Aug 10, 2026

Our scenario range runs from ¥41.48 (bear case) to ¥85.62 (bull case); at ¥31.63, the current price sits below 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 43% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at 75%, 603173 screens cheaper 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: DCF Models (¥92.13) versus Dividend Discount (¥7.49). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

Hangzhou Fortune Gas Cryogenic Group Co., Ltd. engages in the research, design, and complete service of various industrial gas cryogenic technologies, natural gas treatment and liquefaction technologies, and technologies related to syngas and hydrogen.

Full company description

Hangzhou Fortune Gas Cryogenic Group Co., Ltd. engages in the research, design, and complete service of various industrial gas cryogenic technologies, natural gas treatment and liquefaction technologies, and technologies related to syngas and hydrogen. It offers turnkey; spare parts, remote support, and personnel dispatch; and installation supervision, commissioning, and operation grantee services. The company also provides air separation units, and liquid air separation unit; rare gases, such as krypton/xenon, helium/neon, and helium extraction and liquefaction; and coil-wound heat exchanger, cold box, vacuum cryogenic storage tank, and vaporizer. It serves energy and resources, chemical, materials, environmental protection, pulp and paper, electronics, machinery, and construction industries. The company operates in the United States, Japan, South Korea, India, Europe, the Commonwealth of Independent States, the Middle East, Southeast Asia, Africa, and Latin America. The company was founded in 1984 and is based in Hangzhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Hangzhou Fortune Gas Cryogenic Group reported revenue of ¥3.0B in FY2025 versus ¥1.4B in FY2021, a compound +20.0%/yr. Reported net income was ¥421M in FY2025, compounding +27.4%/yr from FY2021.

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Peer Group

Specialty Industrial Machinery · 809 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 Specialty Industrial Machinery 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.