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Anhui Linping Circular Development Co (603284) fair value: what the stock is really worth

As of Oct 23, 2026: fair value (intrinsic value) of Anhui Linping Circular Development Co stock ¥26.30, price ¥37.84, upside -30.5%, quality 48 out of 100. Rating: overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Basic Materials · CN

AL Anhui Linping Circular Development Co logo Some data Oct 25, 2026

Anhui Linping Circular Development Co

603284 · SHG

Weak valuationQuality is weak on top of the rich price.

Our calculation puts a fair price 30% below what the stock costs today.

Low debt
Quality 48/100
Thin margins · 6.6% net margin (TTM)
1.6% dividend yield · Watch coverage
Mixed vs. peers (7/13)
Some data
Fair value ¥26.30 · Overvalued (−30.5%)
Weak Growth (revenue YoY −11.2 %/yr in CNY)
Negative free cash flow
Narrow moat 38/100 · thin data
⟳ Cyclical

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

¥57.96 ¥35.58 Fair Value ¥26.30 Feb 2026 Oct 2026

White line = price, green steps = our fair value per fiscal year. As of Oct 25, 2026.

How to read this chart

9‑month range ¥35.58 – ¥57.96 · fair‑value band ¥18.41 – ¥34.19 · the ¥37.84 price screens above the ¥26.30 fair value. As of Oct 25, 2026.

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Company profile

Anhui Linping Circular Development Co., Ltd. engages in the research, development, production, and sales of corrugated paper and linerboard products for packaging.

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The company's main products include corrugated paper and linerboard for use in packaging of consumer and industrial products such as home appliances, electronics, food, beverages, and express logistics.

Its products are widely used in logistics, transportation, and industrial and consumer goods packaging. The company was founded in 2000 and is based in Suzhou, China.

Stock analysis

Anhui Linping Circular Development Co (603284) currently trades at ¥37.84, while our model-based Fair Value estimate is ¥26.30, 30.5% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of ¥36.18 per share, and 3 of the 14 models we run sit above the ¥37.84 price.

Bear case: the Asset-Based group reads lowest at ¥11.03, and 11 of the 14 models stay below the price. Data coverage for this calculation is medium.

Scenario range: ¥18.41 (bear) to ¥34.19 (bull), the price of ¥37.84 sits above 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 48/100 (below-average quality), in the Basic Materials sector.

Weak Growth: Revenue growth is weak, negative or inconsistent.

Anhui Linping Circular Development Co reported revenue of 2.5B CNY in FY2024 versus 2.9B CNY in FY2022, a compound −7.1%/yr. Reported net income was 153M CNY in FY2024, compounding −0.5%/yr from FY2022.

Key figures

Market cap 2.8B CNY (≈ $423M) Small · P/E ratio 11.3 · P/S ratio 0.89 · EPS (TTM) ¥3.34 · Dividend yield 1.6% · Net margin 6.6% · Return on assets (EBIT) 10.3% · Operating margin 7.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).

What moves the price

For context, the median of 10 Basic Materials peers we cover trades at 29% fair-value upside, at −30%, 603284 screens richer than that median.

Fair Value models

Bear ¥18.41 Fair Value ¥26.30 Bull ¥34.19
Price ¥37.84 · Upside -30.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2024 figures (about 12 months old). Earnings retained since then (¥2.72 per share) are deliberately not added. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
EPV ¥17.77 ¥19.69 ¥21.26 71
Residual Income ¥15.04 ¥16.54 ¥18.89 69
EV/EBITDA ¥33.22 ¥43.46 ¥53.70 67
All 14 models by family
Earnings-Based
Graham-Dodd ¥13.78 ¥16.85 ¥18.95 61
EPV ¥17.77 ¥19.69 ¥21.26 71
Dividend Discount
Gordon GGM ¥1.75 ¥1.88 ¥2.06 63
DDM Multi-Stage ¥1.75 ¥2.05 ¥2.42 61
Multiples
P/E Multiple ¥25.84 ¥34.46 ¥43.07 63
P/S Multiple ¥25.84 ¥34.46 ¥43.07 58
P/B Multiple ¥37.05 ¥49.40 ¥61.75 55
EV/EBIT ¥29.70 ¥38.77 ¥47.84 66
EV/EBITDA ¥33.22 ¥43.46 ¥53.70 67
EV/Revenue ¥26.08 ¥36.18 ¥46.28 54
Asset-Based
NCAV (Graham) ¥8.23 ¥11.03 ¥16.47 54
Economic Profit
Residual Income ¥15.04 ¥16.54 ¥18.89 69
ROIC Compounder ¥17.77 ¥19.88 ¥21.95 66
Growth Earnings
Growth-Adj P/E ¥18.41 ¥26.30 ¥34.19 61

Open the full fair value analysis →

Quality Score breakdown

Overall quality 48/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 48
How much profit the company makes from its sales and capital
Quality Growth 19
Are margins and returns getting better?
Cashflow 33
Do the profits arrive as real cash?
Financial strength 71
Debt, balance sheet and risk of trouble
Investment 45
Does it invest with discipline instead of growing at any price?
Low Volatility 0
How calm the share price moves, does not count
Momentum 25
Price trend of the last 3 to 12 months, does not count
Near the 52-week high 35
Distance to the 52-week high, does not count
New shares 80
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 6/100
Revenue growth is weak, negative or inconsistent.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: only 3 usable fiscal years, at least 4 required
not computed

603284 screens overvalued: fair value 30% below the price. Compare with UPM-Kymmene Oyj →

Compare Anhui Linping Circular Development Co with another stock

Price, fair value, quality and upside side by side.

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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.Paper & Paper Products · 118 stocks

Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 48 · Below median
Fair Value upside −30.5% · Below median
Profitability
Return on assets 7.1% · Top 25%
Net margin (12 months) 6.6% · Top 25%
Operating margin (12 months) 7.0% · Above median
Growth and dividend
Revenue growth (quarter YoY) 63.6% · Top 25%
Dividend yield (12 months) 1.6% · Below median
Balance sheet
Debt / equity 0.08× · Below median

Valuation Multiplesvs Paper & Paper Products median · lower = cheaper

P/E (12 months) 11.3× · Cheaper than median
P/B 2.11× · Priciest 25%
P/S (12 months) 0.89× · Pricier than median
EV/EBITDA 7.3× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 24
FUTURE (revenue growth)100 · sector 21
PAST (return on equity)0 · sector 14
HEALTH (low debt)96 · sector 91
DIVIDEND (yield)33 · sector 39

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

Context: sector, industry, market

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

Similar stocks

10 more Paper & Paper Products stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Nine Dragons Paper (Holdings) Limited 2689 HK$4.73 HK$14.14 +199% vs 603284
PT Indah Kiat Pulp & Paper Tbk INKP 7,075 IDR 12,617 IDR +78% vs 603284
Empresas CMPC S.A CMPC 966.00 CLP 1,388 CLP +44% vs 603284
Shandong Sunpaper Co 002078 ¥12.81 ¥16.93 +32% vs 603284
Xianhe Co 603733 ¥16.33 ¥21.06 +29% vs 603284
Semapa - Sociedade de Investimento e Gestão, SGPS, S.A SEM €19.52 €23.55 +21% vs 603284
Lee & Man Paper Manufacturing Limited 2314 HK$3.25 HK$2.64 −19% vs 603284
The Navigator Company NVG €3.08 €2.08 −33% vs 603284
UPM-Kymmene Oyj UPM €24.60 €15.50 −37% vs 603284
Billerud AB BILL kr 83.70 kr 49.11 −41% vs 603284

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Cite: Fair Value Calculator (2026). "Anhui Linping Circular Development Co Fair Value". https://www.fairvalue-calculator.com/stock/603284

Frequently asked questions

Is Anhui Linping Circular Development Co (603284) overvalued or undervalued?
As of Oct 25, 2026, our model estimates a fair value of ¥26.30 versus a price of ¥37.84, about −30% upside (overvalued).
What is the fair value of 603284?
Our model-based fair value for Anhui Linping Circular Development Co is ¥26.30 (as of Oct 25, 2026), built from audited fundamentals. The current price: ¥37.84.
What is the quality score of 603284?
Anhui Linping Circular Development Co has a Quality Score of 48/100. 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 price target for Anhui Linping Circular Development Co (603284)?
Our model-based price target is the fair value of ¥26.30 (as of Oct 25, 2026) from 14 valuation models. Cautious scenario ¥18.41, optimistic scenario ¥34.19. It is a calculation from audited fundamentals, not an analyst target.
What is the Anhui Linping Circular Development Co stock forecast for 2026?
Our models put fair value at ¥26.30, about −30% upside versus a price of ¥37.84 (overvalued). Cautious scenario ¥18.41, optimistic scenario ¥34.19. The calculation is refreshed regularly with new filings.
What is the revenue of Anhui Linping Circular Development Co (603284)?
Anhui Linping Circular Development Co reported trailing-twelve-month revenue of about 3.2B CNY (latest available figure, as of Oct 25, 2026).
Does Anhui Linping Circular Development Co pay a dividend?
Anhui Linping Circular Development Co currently shows a dividend yield of 1.64% relative to its recent price (as of Oct 25, 2026).
What is the intrinsic value of Anhui Linping Circular Development Co (603284)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Anhui Linping Circular Development Co it is ¥26.30 per share (as of Oct 25, 2026), against a price of ¥37.84. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Anhui Linping Circular Development Co stock overvalued or undervalued in 2026?
As of Oct 25, 2026, 603284 trades above its calculated fair value: price ¥37.84, fair value ¥26.30, a gap of about −30% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 603284?
No. The price is what the market pays today (¥37.84); the fair value is what the company's own numbers justify (¥26.30). For Anhui Linping Circular Development Co the two are ¥11.54 per share apart. That gap is exactly why we show both numbers side by side.
How much is Anhui Linping Circular Development Co worth?
The market values Anhui Linping Circular Development Co at about 2.8B CNY (market capitalisation, as of Oct 25, 2026). Per share that is ¥37.84; our models calculate a fair value of ¥26.30 per share.
What do the bullish and bearish scenarios say about 603284?
Our models span a range for Anhui Linping Circular Development Co: cautious scenario ¥18.41, base ¥26.30, optimistic ¥34.19 per share (as of Oct 25, 2026, price ¥37.84). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 603284?
Anhui Linping Circular Development Co trades at a price-to-earnings ratio of 11.3 (as of Oct 25, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥26.30 is built from several models across several years. Other multiples: P/B 2.1, P/S 0.9, EV/EBITDA 7.3.
How solid is the balance sheet of Anhui Linping Circular Development Co (603284)?
Balance-sheet figures for Anhui Linping Circular Development Co (as of Oct 25, 2026): debt of 0.08 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
Which stocks are comparable to Anhui Linping Circular Development Co?
From the same area (Basic Materials) we also value UPM-Kymmene Oyj, Shandong Sunpaper Co, Nine Dragons Paper (Holdings) Limited, The Navigator Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Anhui Linping Circular Development Co stock attractive at the current price?
The data as of Oct 25, 2026: price ¥37.84, calculated fair value ¥26.30 (−30%), Quality Score 48/100, from 14 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 603284 calculated?
We run Anhui Linping Circular Development Co through 14 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥26.30, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 12.3 % above its aggregate fair value. Anhui Linping Circular Development Co itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Anhui Linping Circular Development Co (603284)?
The closing price on Oct 23, 2026 was ¥37.84. Our model-based fair value is ¥26.30, about −30% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Anhui Linping Circular Development Co right now?
The price sits above even our optimistic bull case (¥34.19). The favourable scenario is already priced in. Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (¥18.41 to ¥34.19) leaves room in how you read the outcome.

Key figures of Anhui Linping Circular Development Co

How large is the market capitalisation of Anhui Linping Circular Development Co (603284)?
The market capitalisation of Anhui Linping Circular Development Co is 2.8B CNY (≈ $423M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Anhui Linping Circular Development Co (603284)?
The price-to-sales ratio of Anhui Linping Circular Development Co is 0.89 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Anhui Linping Circular Development Co (603284)?
Earnings per share at Anhui Linping Circular Development Co are ¥3.34 (price ÷ EPS = P/E 11.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Anhui Linping Circular Development Co (603284)?
The dividend yield of Anhui Linping Circular Development Co is 1.6% (payout 18.6%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Anhui Linping Circular Development Co (603284)?
The net margin of Anhui Linping Circular Development Co is 6.6% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the EBIT return on assets of Anhui Linping Circular Development Co (603284)?
On an EBIT basis the return on assets of Anhui Linping Circular Development Co is 10.3% (avg 3y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Anhui Linping Circular Development Co (603284)?
The operating margin of Anhui Linping Circular Development Co is 7.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Anhui Linping Circular Development Co (603284)?
Revenue at Anhui Linping Circular Development Co is growing +63.6% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Anhui Linping Circular Development Co (603284)?
Earnings per share at Anhui Linping Circular Development Co are growing +30.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Anhui Linping Circular Development Co (603284) generate?
The free cash flow of Anhui Linping Circular Development Co is −41.6M CNY (fiscal year 2024). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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