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Shanghai Laiyifen Co (603777) Fair Value & Analysis

Consumer Defensive · CN · Market cap 5.6B CNY

SL Shanghai Laiyifen Co 603777 · SHG
Price¥14.55
Fair Value¥5.74
Upside-60.6%
Quality54/100
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Weak Growth
Loss-making · -4.9% net margin
Low debt · generates free cash flow
Trails peers (3/11)
Narrow moat 9/100
Evidence: Medium Range ¥4.42 – ¥7.69 Share as image

Fair value as of: Jul 11, 2026

From 13 valuation models · updated 30 days ago

Share price −6.7% over the past month.

A solid business, but screening 61% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥7.69). The favourable scenario is already priced in.
  • Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥24.60 ¥8.03 Fair Value ¥5.74 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.

How to read this chart

60‑month range ¥8.03 – ¥24.60 · fair‑value band ¥4.42 – ¥7.69 · the ¥14.55 price screens above the ¥5.74 fair value. Dashed = 300-day average. As of Jul 11, 2026.

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Analysis

Shanghai Laiyifen Co (603777) currently trades at ¥14.55, while our model-based Fair Value estimate is ¥5.74, implying the stock looks roughly 60.6% overvalued today. The Quality Score stands at 54/100 (solid quality), in the Consumer Defensive 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, Shanghai Laiyifen Co generated revenue of 3.8B CNY at a net margin of -4.9%. Revenue declined 1.1% year over year. It earns a return on equity of -10.6%. The balance sheet holds a net cash position of 41.9M CNY. Fundamentals as of Jul 11, 2026

Our scenario range runs from ¥4.42 (bear case) to ¥7.69 (bull case); at ¥14.55, 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 33% below its 52-week high and 22% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -31% fair-value upside, at -61%, 603777 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 BearBaseBull Evidence
Highest evidence
Growth DCF ¥4.19 ¥5.31 ¥6.74 80
Rev-Margin DCF ¥3.82 ¥5.18 ¥6.61 74
Gordon GGM ¥0.1100 ¥0.1700 ¥0.2200 70
All 13 models by family
DCF Models
FCF DCF ¥4.10 ¥5.29 ¥6.88 38
Owner Earnings ¥3.13 ¥3.94 ¥5.03 31
5Y Revenue Exit ¥3.82 ¥5.13 ¥6.73 39
5Y EBITDA Exit ¥4.75 ¥6.76 ¥8.98 41
10Y Revenue Exit ¥3.83 ¥4.99 ¥6.39 36
10Y EBITDA Exit ¥4.47 ¥6.06 ¥7.97 37
Dividend Discount
Gordon GGM ¥0.1100 ¥0.1700 ¥0.2200 70
DDM Multi-Stage ¥0.1100 ¥0.1600 ¥0.2100 61
Multiples
EV/EBITDA ¥5.76 ¥7.34 ¥8.93 54
EV/Revenue ¥3.83 ¥5.04 ¥6.25 43
Asset-Based
NCAV (Graham) ¥2.35 ¥3.15 ¥4.70 50
Growth DCF
Growth DCF ¥4.19 ¥5.31 ¥6.74 80
Rev-Margin DCF ¥3.82 ¥5.18 ¥6.61 74

Widest divergence: Growth DCF (¥5.18) versus Dividend Discount (¥0.1600). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 3.8B CNY
Revenue growth (YoY) -1.1%
Net margin -4.9%
Return on equity -10.6%
Free cash flow 104M CNY FY2025
Operating margin -1.5%
More key figures
EPS (TTM) ¥-0.5600
EPS growth (YoY) -77.8%
Net cash 41.9M CNY FY2024

Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 54/100

Of which business quality 55 · Market factors (momentum, volatility) 47

Profitability 33
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 30
Earnings quality: real cash, not paper profit
Fin. Strength 76
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 56
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 37
Distance to the 52-week high (market factor)
Net Issuance 79
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

Shanghai Laiyifen Co.,Ltd operates snack food stores in China. The company's product categories include, ready-to-eat, puffed food, legumes, seeds and nuts, cake and pastries, meat-based, fruits and veggie, sweets, dried fruits, and seafoods. It also offers imported goods. In addition, the company provides its products through its online platform.

Full company description

Shanghai Laiyifen Co.,Ltd operates snack food stores in China. The company's product categories include, ready-to-eat, puffed food, legumes, seeds and nuts, cake and pastries, meat-based, fruits and veggie, sweets, dried fruits, and seafoods. It also offers imported goods. In addition, the company provides its products through its online platform. It operates approximately 3,000 stores. The company was founded in 1999 and is based in Shanghai, China. Shanghai Laiyifen Co.,Ltd is a subsidiary of Shanghai Aiwu Enterprise Management Co., Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shanghai Laiyifen Co reported revenue of ¥3.8B in FY2025 versus ¥4.2B in FY2021, a compound −2.2%/yr. Reported net income was −¥161M in FY2025.

Growth Quality 26/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
3.8B CNY
Latest YoY
+13.3%
Avg. growth/yr (3Y)
−4.5%
Avg. growth/yr (5Y)
−1.1%
Avg. growth/yr (16Y)
+8.2%
Revenue −2.2%/yr
FY21 ¥4.2B
FY22 ¥4.4B
FY23 ¥4.0B
FY24 ¥3.4B
FY25 ¥3.8B
Net income
FY21 ¥31.0M
FY22 ¥102M
FY23 ¥57.0M
FY24 −¥75.3M
FY25 −¥161M

603777 screens 61% overvalued. Compare with Loblaw Companies Limited →

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Cite: Fair Value Calculator (2026). "Shanghai Laiyifen Co Fair Value". https://www.fairvalue-calculator.com/stock/603777

Peer Group

Grocery Stores · 83 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 54 · Below median
Fair Value upside −61% · Bottom 25%
Return on assets -4% · Bottom 25%
Net margin (TTM) -5% · Bottom 25%
Operating margin (TTM) -1% · Bottom 25%
Revenue growth -1% · Bottom 25%
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Grocery Stores median · lower = cheaper

P/B 0.53× · Cheaper than 75% of peers
P/S (TTM) 0.22× · Cheaper than median
P/FCF 8.0× · Pricier than median

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 36
FUTURE 0 · sector 17
PAST 0 · sector 51
HEALTH 100 · sector 92
DIVIDEND 0 · sector 48

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Grocery Stores stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).

Stock Price Fair Value vs Fair Value
Loblaw Companies Limited L C$65.49 C$44.44 -32%
Koninklijke Ahold Delhaize N.V AD €36.30 €53.50 +47%
The Kroger Co KR $58.82 $28.19 -52%
Woolworths Group WOW A$39.20 A$13.40 -66%
George Weston Limited WN C$100.98 C$63.61 -37%
Coles Group COL A$23.56 A$15.86 -33%
Metro Inc MRU C$93.64 C$94.01 +0%
Carrefour SA CA €16.40 €11.51 -30%
CP ALL Public Company TCPD 1.89 SGD 2.36 SGD +25%
BIM Birlesik Magazalar A.S., BIMAS 385.75 TRY 267.12 TRY -31%

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Frequently asked questions

Is Shanghai Laiyifen Co (603777) overvalued or undervalued?
As of Jul 11, 2026, our model estimates a fair value of ¥5.74 versus a price of ¥14.55, about −61% (overvalued).
What is the fair value of 603777?
Our model-based fair value for Shanghai Laiyifen Co is ¥5.74 (as of Jul 11, 2026), built from audited fundamentals. The current price is ¥14.55.
What is the quality score of 603777?
Shanghai Laiyifen Co has a Quality Score of 54/100. 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 Shanghai Laiyifen Co (603777)?
Shanghai Laiyifen Co reported trailing-twelve-month revenue of about 3.8B CNY (latest available figure, as of Jul 11, 2026).
What is the net profit margin of 603777?
The net profit margin of Shanghai Laiyifen Co is about -4.9%, 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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