Baiwang Co Ltd (6657) Fair Value & Analysis

Technology · HK · Market cap HK$3.2B (≈ $403M)

What is Baiwang Co Ltd really worth?

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

What matters now

• The price sits above even our optimistic bull case (HK$2.33). The favourable scenario is already priced in.
• The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
• Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
• The models converge in a tight band (HK$2.12 to HK$2.33), unusually little disagreement for a valuation.

Price vs Fair Value (2 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.

How to read this chart

26‑month range HK$11.03 – HK$51.50 · fair‑value band HK$2.12 – HK$2.33 · the HK$14.46 price screens above the HK$2.20 fair value. Dashed = 300-day average. As of Sep 5, 2026.

Full chart & analysis →

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Analysis

Baiwang Co Ltd (6657) currently trades at HK$14.46, while our model-based Fair Value estimate is HK$2.20, implying the stock looks roughly 557.5% overvalued today. The Quality Score stands at 54/100 (solid quality), in the Technology sector. How firm this estimate is: it rests on 2 models at a data quality of 94/100, which puts the evidence level at low.

Over the trailing twelve months, Baiwang Co Ltd generated revenue of HK$729M at a net margin of −1.3%. Revenue grew 0.9% year over year. It earns a return on equity of −1.1%. The balance sheet holds a net cash position of HK$376M. Fundamentals as of Sep 5, 2026

Our scenario range runs from HK$2.12 (bear case) to HK$2.33 (bull case); at HK$14.46, 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 65% below its 52-week high and 34% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at −36% fair-value upside, at −85%, 6657 screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly HK$0.0136 per share, which is 0.5 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

Widest divergence: Asset-Based (HK$2.78) versus DCF Models (HK$2.19). Highest evidence: Owner Earnings (78).

Key figures & financial health

Quality Score breakdown

About the company

Baiwang Co., Ltd. provides enterprise digitalization solutions through the Baiwang Cloud platform in China. It offers software as a service (SaaS) financial and tax digitalization, consists of tax invoice compliance management, financial and tax management, and supply chain collaboration solutions; and data-driven intelligence solutions, such as digital …

Full company description

Baiwang Co., Ltd. provides enterprise digitalization solutions through the Baiwang Cloud platform in China. It offers software as a service (SaaS) financial and tax digitalization, consists of tax invoice compliance management, financial and tax management, and supply chain collaboration solutions; and data-driven intelligence solutions, such as digital precision marketing and risk management services. The company also provides software and technology, and software maintenance services; and supply chain finance and financial technology cloud services. It serves banking, transportation, manufacturing, real estate, energy, and internet platform industries. Baiwang Co., Ltd. was incorporated in 2015 and is headquartered in Beijing, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Baiwang Co Ltd reported revenue of 729M CNY in FY2025 versus 454M CNY in FY2021, a compound +12.6%/yr. Reported net income was −9.6M CNY in FY2025.

6657 screens 557% overvalued. Compare with SAP SE →

Peer Group

Software - Application · 691 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 Software - Application median · lower = cheaper

Strength profile in five axes (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: 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.

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