Shanghai M&G Stationery Inc (603899) Fair Value & Analysis
Industrials · CN · Market cap 20.7B CNY
Fair value as of: Jul 11, 2026
From 26 valuation models · updated 30 days ago
Share price +4.8% over the past month.
A solid business, screening 34% undervalued on our models.
What matters now
- Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality.
- Our model range runs from ¥22.54 (bear) to ¥37.56 (bull), base ¥30.05. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 64/100 (solid quality) with high evidence: the data supports the verdict.
Price vs Fair Value (5 years)
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 ¥20.68 – ¥94.75 · fair‑value band ¥22.54 – ¥37.56 · the ¥22.48 price screens below the ¥30.05 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 11, 2026.
Analysis
Shanghai M&G Stationery Inc (603899) currently trades at ¥22.48, while our model-based Fair Value estimate is ¥30.05, implying the stock looks roughly 33.7% undervalued today. The Quality Score stands at 64/100 (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, Shanghai M&G Stationery Inc generated revenue of 25.3B CNY at a net margin of 5.2%. Revenue grew 5.4% year over year. It earns a return on equity of 13.9%. The balance sheet holds a net cash position of 4.4B CNY. Fundamentals as of Jul 11, 2026
Our scenario range runs from ¥22.54 (bear case) to ¥37.56 (bull case); at ¥22.48, 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 35% below its 52-week high and 7% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -57% fair-value upside, at 34%, 603899 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.
All 26 models by family
Widest divergence: DCF Models (¥52.12) versus Asset-Based (¥6.79). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 65 · Market factors (momentum, volatility) 37
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 M&G Stationery Inc. provides writing tools, student and office stationery, and other related products in China and internationally. The company offers student stationery comprising erasers; pencil sharpener; sliding eraser pen; aluminum alloy and colored soft ruler; geometry set squares; sharpeners; and metal and aluminum alloy compass set.
Full company description
Shanghai M&G Stationery Inc. provides writing tools, student and office stationery, and other related products in China and internationally. The company offers student stationery comprising erasers; pencil sharpener; sliding eraser pen; aluminum alloy and colored soft ruler; geometry set squares; sharpeners; and metal and aluminum alloy compass set. It also provides wooden, wooden free, and colored pencils; washable colors and marker pen; acrylic paints and markers; water and oil pastel colors; and paint brushes. In addition, it offers office stationery, including whiteboard markers and erasers; cutter blades; scissors; knives; glue sticks; rubber rings; paper and binder clips; push pins; magnetic buttons; PVC and EVA zipper bags; button file bags; calculators; pen holders; staplers; staples; steel punches; staple removers; metal book end; and ball pens. Further, it provides handwriting tools, such as gel and liquid roller pens, pencil leads, and highlighter displays; correction tapes and correction tapes refill; paper products, which include sticky notes and notebooks; and adhesives products comprising tape dispensers and tapes. Additionally, the company sells its products under the M&G brand, as well as through e-commerce channels. The company was founded in 1989 and is headquartered in Shanghai, China. Shanghai M&G Stationery Inc. operates as a subsidiary of M&G Holding Group Co., Ltd.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Shanghai M&G Stationery Inc reported revenue of ¥25.1B in FY2025 versus ¥17.6B in FY2021, a compound +9.2%/yr. Reported net income was ¥1.3B in FY2025, compounding −3.6%/yr from FY2021.
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Peer Group
Business Equipment & Supplies · 73 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 Business Equipment & Supplies 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.
Similar stocks
10 more Business Equipment & Supplies stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Ricoh Company RICO | ¥15.33 | ¥17.99 | +17% |
| GRG Banking Equipment Co 002152 | ¥10.08 | ¥6.90 | -32% |
| XGD Inc 300130 | ¥19.90 | ¥15.67 | -21% |
| DOMS Industries Limited DOMS | ₹2,260 | ₹782.96 | -65% |
| Hengbao Co 002104 | ¥9.20 | ¥1.66 | -82% |
| Shaanxi Fenghuo Electronics Co 000561 | ¥6.99 | ¥1.75 | -75% |
| Shenzhen Comix Group 002301 | ¥7.30 | ¥3.11 | -57% |
| Shandong New Beiyang Information Technology Co 002376 | ¥6.00 | ¥1.73 | -71% |
| Qingdao Hiron Commercial Cold Chain Co 603187 | ¥11.92 | ¥21.12 | +77% |
| Cashway Fintech Co 603106 | ¥9.04 | ¥1.20 | -87% |
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Frequently asked questions
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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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