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Zhejiang Goldensea Envi Tech C (603311) Fair Value & Analysis

Industrials · CN · Market cap 7.0B CNY

ZG Zhejiang Goldensea Envi Tech C 603311 · SHG
Price¥28.33
Fair Value¥5.66
Upside-80.0%
Quality63/100

Structural break: The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.

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Strengths

Low debt · generates free cash flow

Risks

!Trades 401% ABOVE our fair value of ¥5.66
!Mixed Growth (revenue 5y +4.3 %/yr)
!Thin margins · 8.3% net margin
!Mixed vs. peers (6/14)
Mixed Growth (revenue 5y +4.3 %/yr)
Thin margins · 8.3% net margin
Low debt · generates free cash flow
0.41% dividend yield
Mixed vs. peers (6/14)
Narrow moat 40/100
Evidence: High Range ¥4.45 – ¥7.07 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 11 days ago

Share price +10.7% over the past month.

A solid business, but trading 401% above our fair value.

What runs behind every stock

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

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What matters now

  • The price sits above even our optimistic bull case (¥7.07). The favourable scenario is already priced in.
  • Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥40.92 ¥6.64 Fair Value ¥5.66 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ¥6.64 – ¥40.92 · fair‑value band ¥4.45 – ¥7.07 · the ¥28.33 price screens above the ¥5.66 fair value. Dashed = 300-day average. As of Aug 13, 2026.

Full chart & analysis →

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Analysis

Zhejiang Goldensea Envi Tech C (603311) currently trades at ¥28.33, while our model-based Fair Value estimate is ¥5.66, implying the stock looks roughly 80.0% overvalued today. The Quality Score stands at 63/100 (solid quality), in the Industrials 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: high).

Over the trailing twelve months, Zhejiang Goldensea Envi Tech C generated revenue of 850M CNY at a net margin of 8.3%. Revenue declined 2.6% year over year. It earns a return on equity of 5.2%. The balance sheet holds a net cash position of 191M CNY. Fundamentals as of Aug 13, 2026

Our scenario range runs from ¥4.45 (bear case) to ¥7.07 (bull case); at ¥28.33, 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 31% below its 52-week high and 181% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -31% fair-value upside, at -80%, 603311 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 ¥6.24 ¥8.47 ¥11.58 80
Residual Income ¥4.39 ¥4.50 ¥4.46 76
Rev-Margin DCF ¥4.85 ¥6.54 ¥8.53 74
All 26 models by family
DCF Models
FCF DCF ¥6.20 ¥8.77 ¥12.62 38
Owner Earnings ¥5.89 ¥8.29 ¥11.88 31
5Y Revenue Exit ¥4.85 ¥6.50 ¥8.58 39
5Y EBITDA Exit ¥5.90 ¥8.49 ¥11.52 41
5Y P/E Exit ¥6.27 ¥9.19 ¥12.30 38
10Y Revenue Exit ¥5.23 ¥6.85 ¥9.00 36
10Y EBITDA Exit ¥5.96 ¥8.21 ¥11.23 37
10Y P/E Exit ¥6.19 ¥8.69 ¥11.81 35
Earnings-Based
Graham-Dodd ¥2.26 ¥7.62 ¥10.21 54
Lynch FV ¥1.74 ¥2.48 ¥3.23 50
PEG = 1.0 ¥1.74 ¥2.48 ¥3.23 46
EPV ¥3.96 ¥4.32 ¥4.64 59
Dividend Discount
Gordon GGM ¥1.18 ¥2.35 ¥3.57 70
DDM Multi-Stage ¥1.18 ¥1.99 ¥2.49 61
Multiples
P/E Multiple ¥5.24 ¥6.99 ¥8.73 63
P/S Multiple ¥4.24 ¥5.66 ¥7.07 58
P/B Multiple ¥4.24 ¥5.66 ¥7.07 55
EV/EBIT ¥5.26 ¥6.47 ¥7.68 53
EV/EBITDA ¥6.22 ¥7.75 ¥9.28 54
EV/Revenue ¥4.22 ¥5.33 ¥6.44 43
Asset-Based
NCAV (Graham) ¥2.83 ¥3.80 ¥5.67 50
Growth DCF
Growth DCF ¥6.24 ¥8.47 ¥11.58 80
Rev-Margin DCF ¥4.85 ¥6.54 ¥8.53 74
Economic Profit
Residual Income ¥4.39 ¥4.50 ¥4.46 76
ROIC Compounder ¥3.96 ¥4.32 ¥4.64 72
Growth Earnings
Growth-Adj P/E ¥4.46 ¥6.37 ¥8.28 68

Widest divergence: DCF Models (¥8.29) versus Dividend Discount (¥1.99). Highest evidence: Growth DCF (80).

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Key figures & financial health

P/E ratio 97.7
P/S ratio 10.7 TTM
Dividend yield 0.3% payout 30.3%
Net margin 8.3% TTM
Return on equity 5.2% TTM
Return on assets 1.8% TTM
More key figures
Profitability
Operating margin 8.3% TTM
EPS (TTM) ¥0.2900
Growth
Revenue (TTM) 850M CNY TTM
Revenue growth (YoY) -2.6% 3y avg +2.7%
EPS growth (YoY) -21.1%
Balance sheet & cash flow
Free cash flow 97.9M CNY FY2025
Net cash 191M CNY FY2024

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 63 · Market factors (momentum, volatility) 68

Profitability 33
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 64
Earnings quality: real cash, not paper profit
Fin. Strength 94
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 38
Calm price path (market factor)
Momentum 82
Price trend over the last 3–12 months (market factor)
52W Momentum 77
Distance to the 52-week high (market factor)
Net Issuance 53
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Zhejiang Goldensea Hi-Tech Co., Ltd produces and sells environmental protection filter materials in China and internationally.

Full company description

Zhejiang Goldensea Hi-Tech Co., Ltd produces and sells environmental protection filter materials in China and internationally. The company offers high-performance filter materials, functional filter materials, multi-functional filter screens, and various filters with features such as virus killing, strong deodorization, anti-allergy, and formaldehyde removal. Its products are widely used in household and commercial air conditioners, air purifiers, kitchen appliances, cleaning appliances, new energy vehicles, oil vehicles, aviation air conditioning filtration systems, fresh air systems, pet purification, and elderly care applications. The company also provides one-stop air filtration solutions, including engineering design, customized production, and after-sales services, and manufactures fans, injection molded parts, and other components. The company was formerly known as Zhejiang Goldensea Environment Technology Co.,Ltd. Zhejiang Goldensea Hi-Tech Co., Ltd was founded in 1995 and is based in Zhuji, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Zhejiang Goldensea Envi Tech C reported revenue of ¥855M in FY2025 versus ¥758M in FY2021, a compound +3.1%/yr. Reported net income was ¥78.5M in FY2025, compounding +2.4%/yr from FY2021.

Growth Quality 67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
855M CNY
Latest YoY
+8.5%
Avg. revenue 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.
+2.7%
Avg. revenue 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.
+4.3%
Avg. revenue 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.
+8.3%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
−2.3% (-2.6 + 0.3)
Revenue +3.1%/yr
FY21 ¥758M
FY22 ¥789M
FY23 ¥725M
FY24 ¥789M
FY25 ¥855M
Net income +2.4%/yr
FY21 ¥71.5M
FY22 ¥75.6M
FY23 ¥49.2M
FY24 ¥65.0M
FY25 ¥78.5M
Character of growth · EPS growth decomposed (2013-2024) −0.1 % p.a.
Revenue per share +4.2 pp

of which total revenue +7.7 pp · buybacks/dilution −3.5 pp

EBIT margin −4.3 pp
Tax rate +0.4 pp
Residual (interest, one-offs) −0.4 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

603311 screens 80% overvalued. Compare with Veralto Corporation →

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Cite: Fair Value Calculator (2026). "Zhejiang Goldensea Envi Tech C Fair Value". https://www.fairvalue-calculator.com/stock/603311

Peer Group

Pollution & Treatment Controls · 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 63 · Top 25%
Fair Value upside −80% · Bottom 25%
Return on equity (TTM) 5% · Above median
Return on assets 2% · Above median
Net margin (TTM) 8% · Above median
Operating margin (TTM) 8% · Above median
Revenue growth -3% · Below median
Dividend yield (TTM) 0.4% · Bottom 25%
Debt / equity 0.03× · Lower than median

Valuation Multiples vs Pollution & Treatment Controls median · lower = cheaper

P/E (TTM) 97.7× · Pricier than 75% of peers
P/B 5.21× · Pricier than 75% of peers
P/S (TTM) 8.20× · Pricier than 75% of peers
P/FCF 10.6× · Pricier than median
EV/EBITDA 71.3× · 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE0 · sector 7
PAST21 · sector 17
HEALTH99 · sector 95
DIVIDEND8 · sector 44

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

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 Pollution & Treatment Controls stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Veralto Corporation VLTO $97.68 $67.62 -31%
Zurn Elkay Water Solutions Corporation ZWS $51.02 $24.92 -51%
Canmax Technologies Co 300390 ¥61.99 ¥10.07 -84%
CECO Environmental Corp CECO $79.59 $15.19 -81%
Fujian Longking Co 600388 ¥17.41 ¥15.59 -10%
Munters Group MTRS kr 183.90 kr 48.58 -74%
China Conch Venture Holdings 0586 HK$8.69 HK$10.70 +23%
Mega Union Technology Inc 6944 747.00 TWD 539.58 TWD -28%
MayAir Technology (China) Co 688376 ¥71.82 ¥18.80 -74%
Jingjin Equipment Inc 603279 ¥12.41 ¥18.97 +53%

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Frequently asked questions

Is Zhejiang Goldensea Envi Tech C (603311) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ¥5.66 versus a price of ¥28.33, about −80% (overvalued).
What is the fair value of 603311?
Our model-based fair value for Zhejiang Goldensea Envi Tech C is ¥5.66 (as of Aug 13, 2026), built from audited fundamentals. The current price: ¥28.33.
What is the quality score of 603311?
Zhejiang Goldensea Envi Tech C has a Quality Score of 63/100. 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 Goldensea Envi Tech C (603311)?
Zhejiang Goldensea Envi Tech C reported trailing-twelve-month revenue of about 850M CNY (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 603311?
The net profit margin of Zhejiang Goldensea Envi Tech C is about 8.3%, meaning it keeps roughly 8.3% of revenue as net income. Based on the latest reported figures.
Does Zhejiang Goldensea Envi Tech C pay a dividend?
Zhejiang Goldensea Envi Tech C currently shows a dividend yield of about 0.31% relative to its recent price (as of Aug 13, 2026).

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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