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Xiangyang Changyuandonggu Industry Co (603950) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 21.2B CNY

XC Xiangyang Changyuandonggu Industry Co 603950 · SHG
Price¥58.60
Fair Value¥22.08
Upside-62.3%
Quality53/100
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Expensive Growth
Solidly profitable · 17.5% net margin
Low debt · negative free cash flow
0.22% dividend yield
Trails peers (5/13)
Moderate moat 58/100
Evidence: High Range ¥16.13 – ¥28.03 Share as image

Fair value as of: Jul 12, 2026

From 17 valuation models · updated 29 days ago

Fair value updated Jul 12, 2026, revised from ¥25.04 to ¥22.08 (−11.8%) since Jun 24, 2026. Share price −31.6% over the past month.

A solid business, but screening 62% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥28.03). The favourable scenario is already priced in.
  • Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥85.63 ¥8.48 Fair Value ¥22.08 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range ¥8.48 – ¥85.63 · fair‑value band ¥16.13 – ¥28.03 · the ¥58.60 price screens above the ¥22.08 fair value. Dashed = 300-day average. As of Jul 12, 2026.

Full chart & analysis →

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Analysis

Xiangyang Changyuandonggu Industry Co (603950) currently trades at ¥58.60, while our model-based Fair Value estimate is ¥22.08, implying the stock looks roughly 62.3% overvalued today. The Quality Score stands at 53/100 (solid quality), in the Consumer Cyclical 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, Xiangyang Changyuandonggu Industry Co generated revenue of 2.3B CNY at a net margin of 17.5%. Revenue declined 3.2% year over year. It earns a return on equity of 13.4%. Net debt stands at 556M CNY. Fundamentals as of Jul 12, 2026

Our scenario range runs from ¥16.13 (bear case) to ¥28.03 (bull case); at ¥58.60, 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 25% below its 52-week high and 168% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -44% fair-value upside, at -62%, 603950 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
Residual Income ¥8.81 ¥10.85 ¥25.32 76
ROIC Compounder ¥12.50 ¥17.58 ¥22.98 72
Gordon GGM ¥2.70 ¥5.62 ¥8.92 70
All 17 models by family
DCF Models
Owner Earnings ¥4.35 ¥8.44 ¥16.00 31
Earnings-Based
Graham-Dodd ¥8.16 ¥43.86 ¥60.78 54
Lynch FV ¥12.13 ¥17.33 ¥22.53 50
PEG = 1.0 ¥12.13 ¥17.33 ¥22.53 46
EPV ¥11.36 ¥13.25 ¥14.90 59
Dividend Discount
Gordon GGM ¥2.70 ¥5.62 ¥8.92 70
DDM Multi-Stage ¥2.70 ¥4.74 ¥5.90 61
Multiples
P/E Multiple ¥19.80 ¥26.40 ¥33.00 63
P/S Multiple ¥6.26 ¥8.35 ¥10.44 58
P/B Multiple ¥15.30 ¥20.40 ¥25.50 55
EV/EBIT ¥17.88 ¥23.83 ¥29.77 53
EV/EBITDA ¥20.09 ¥26.78 ¥33.47 54
EV/Revenue ¥5.87 ¥8.38 ¥10.88 43
Asset-Based
NCAV (Graham) ¥4.65 ¥6.23 ¥9.29 50
Economic Profit
Residual Income ¥8.81 ¥10.85 ¥25.32 76
ROIC Compounder ¥12.50 ¥17.58 ¥22.98 72
Growth Earnings
Growth-Adj P/E ¥18.26 ¥26.09 ¥33.91 68

Widest divergence: Growth Earnings (¥26.09) versus Dividend Discount (¥4.74). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 2.3B CNY
Revenue growth (YoY) -3.2%
Net margin 17.5%
Return on equity 13.4%
Free cash flow −52.4M CNY FY2025
P/E ratio 54.1
More key figures
Operating margin 18.3%
EPS (TTM) ¥1.21
Dividend yield 0.2%
EPS growth (YoY) +2.0%
Net debt 556M CNY FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 53/100

Of which business quality 53 · Market factors (momentum, volatility) 64

Profitability 43
Margins and returns on capital today
Quality Growth 68
Are margins and returns improving?
Cashflow 37
Earnings quality: real cash, not paper profit
Fin. Strength 77
Balance sheet, leverage, solvency risk
Investment 25
Disciplined investing over empire-building
Low Volatility 23
Calm price path (market factor)
Momentum 81
Price trend over the last 3–12 months (market factor)
52W Momentum 83
Distance to the 52-week high (market factor)
Net Issuance 60
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

Xiangyang Changyuandonggu Industry Co., Ltd. engages in the research and development, manufacture, and sale of diesel engine components in China.

Full company description

Xiangyang Changyuandonggu Industry Co., Ltd. engages in the research and development, manufacture, and sale of diesel engine components in China. The company offers cylinder blocks and heads; connecting rods; and other parts, including flywheel housings, gear chambers, exhaust pipe series products, and main bearing caps, as well as gearbox housings for front, middle, and rear side. It serves engine and vehicle manufacturers. The company was founded in 2001 and is headquartered in Xiangyang, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Xiangyang Changyuandonggu Industry Co reported revenue of ¥2.3B in FY2025 versus ¥1.6B in FY2021, a compound +9.3%/yr. Reported net income was ¥389M in FY2025, compounding +11.8%/yr from FY2021.

Growth Quality 43/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
2.3B CNY
Latest YoY
+17.5%
Avg. growth/yr (3Y)
+26.4%
Avg. growth/yr (5Y)
+6.1%
Avg. growth/yr (10Y)
+11.5%
Revenue +9.3%/yr
FY21 ¥1.6B
FY22 ¥1.1B
FY23 ¥1.5B
FY24 ¥1.9B
FY25 ¥2.3B
Net income +11.8%/yr
FY21 ¥249M
FY22 ¥100M
FY23 ¥219M
FY24 ¥230M
FY25 ¥389M

603950 screens 62% overvalued. Compare with Hyundai Mobis Co →

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Cite: Fair Value Calculator (2026). "Xiangyang Changyuandonggu Industry Co Fair Value". https://www.fairvalue-calculator.com/stock/603950

Peer Group

Auto Parts · 642 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 53 · Above median
Fair Value upside −62% · Bottom 25%
Return on equity (TTM) 13% · Top 25%
Return on assets 4% · Above median
Net margin (TTM) 17% · Top 25%
Operating margin (TTM) 18% · Top 25%
Revenue growth -3% · Below median
Dividend yield (TTM) 0.2% · Bottom 25%
Debt / equity 0.15× · Higher than median

Valuation Multiples vs Auto Parts median · lower = cheaper

P/E (TTM) 54.1× · Pricier than 75% of peers
P/B 7.05× · Pricier than 75% of peers
P/S (TTM) 9.41× · Pricier than 75% of peers
EV/EBITDA 31.0× · 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.

VALUE 0 · sector 17
FUTURE 0 · sector 23
PAST 54 · sector 26
HEALTH 93 · sector 95
DIVIDEND 4 · sector 30

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 Auto Parts stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
Hyundai Mobis Co 012330 482,000 KRW 678,420 KRW +41%
Magna International Inc MGAN 1,122 MXN 1,172 MXN +4%
Samvardhana Motherson International Limited MOTHERSON ₹144.17 ₹80.63 -44%
Bosch Limited BOSCHLTD ₹41,110 ₹14,004 -66%
Bharat Forge Limited BHARATFORG ₹2,117 ₹441.74 -79%
Uno Minda Limited UNOMINDA ₹1,158 ₹426.57 -63%
Schaeffler India Limited SCHAEFFLER ₹4,135 ₹1,412 -66%
Hankook Tire & Technology Co 161390 73,600 KRW 196,479 KRW +167%
MRF Limited MRF ₹131,025 ₹125,849 -4%
Sona BLW Precision Forgings Limited SONACOMS ₹792.00 ₹207.06 -74%

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Frequently asked questions

Is Xiangyang Changyuandonggu Industry Co (603950) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of ¥22.08 versus a price of ¥58.60, about −62% (overvalued).
What is the fair value of 603950?
Our model-based fair value for Xiangyang Changyuandonggu Industry Co is ¥22.08 (as of Jul 12, 2026), built from audited fundamentals. The current price is ¥58.60.
What is the quality score of 603950?
Xiangyang Changyuandonggu Industry Co has a Quality Score of 53/100. 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 Xiangyang Changyuandonggu Industry Co (603950)?
Xiangyang Changyuandonggu Industry Co reported trailing-twelve-month revenue of about 2.3B CNY (latest available figure, as of Jul 12, 2026).
What is the net profit margin of 603950?
The net profit margin of Xiangyang Changyuandonggu Industry Co is about 17.5%, meaning it keeps roughly 17.5% of revenue as net income. Based on the latest reported figures.
Does Xiangyang Changyuandonggu Industry Co pay a dividend?
Xiangyang Changyuandonggu Industry Co currently shows a dividend yield of about 0.22% relative to its recent price (as of Jul 12, 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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