Hangzhou Alltest Biotech Co. Ltd. A (688606) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Hangzhou Alltest Biotech Co. Ltd. A stock ¥63.48, price ¥45.91, upside +38.3%, quality 60 out of 100. Rating: undervalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range ¥41.00 – ¥120.93 · fair‑value band ¥47.61 – ¥79.34 · the ¥45.91 price screens below the ¥63.48 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Hangzhou Alltest Biotech Co., Ltd. engages in the research, development, production, and sale of in vitro diagnostic reagents in China and internationally.
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The company offers rapid diagnostic reagents, including drug and drug abuse, infectious disease, women's health, tumor marker, and cardiac marker testing products.
Its products include COVID-19 antigen and antibody tests; veterinary tests; fluorescence immunoassay tests and analyzers; urine analysis solutions, biochemistry reagents, VTM, blood glucose monitoring systems, and HB hemoglobin test meters.
In addition, the company offers SARS-COV-2 RT-qPCR assays, virus specimen stabilizers, and viral DNA/RNA extraction kits; and other test products. Its products are used in clinical testing, on-site testing, personal health management, and other fields.
Hangzhou Alltest Biotech Co., Ltd. was founded in 2009 and is based in Hangzhou, China.
Stock analysis
Hangzhou Alltest Biotech Co. Ltd. A (688606) currently trades at ¥45.91, while our model-based Fair Value estimate is ¥63.48, implying the stock looks roughly 28% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ¥94.79 per share, and 9 of the 16 models we run sit above the ¥45.91 price.
Bear case: the Asset-Based group reads lowest at ¥33.52, and 7 of the 16 models stay below the price. Data coverage for this calculation is high.
Scenario range: ¥47.61 (bear) to ¥79.34 (bull), the price of ¥45.91 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 60/100 (solid quality), in the Healthcare sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Hangzhou Alltest Biotech Co. Ltd. A reported revenue of 911M CNY in FY2025 versus 1.9B CNY in FY2021, a compound −16.5%/yr. Reported net income was 218M CNY in FY2025, compounding −26.9%/yr from FY2021.
Key figures
Market cap 3.6B CNY (≈ $547M) Small · P/E ratio 26.2 · P/S ratio 4.20 · EPS (TTM) ¥1.75 · Dividend yield 2.2% · Net margin 16.0% · Return on equity 3.6% · Return on assets (EBIT) 14.3% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 35% below its 52-week high and 12% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −45% fair-value upside, at 38%, 688606 screens cheaper than that median.
Fair Value models
Bear¥47.61Fair Value ¥63.48Bull¥79.34
Price ¥45.91 · Upside +38.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (¥0.6411 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.36/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−14.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−16.8%
Dividend (yield on the price)2.2%
Per share before 2023divided by the spin-off factor 1.48
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−16.8% vs 17.3%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.70% → 27%
Compare Hangzhou Alltest Biotech Co. Ltd. A with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Medical Instruments & Supplies · 181 stocks
Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside+38.3% · Top 25%
Profitability
Return on equity (12 months)3.6% · Below median
Return on assets5.2% · Above median
Net margin (12 months)16.0% · Top 25%
Operating margin (12 months)16.9% · Above median
Growth and dividend
Revenue growth (quarter YoY)−11.1% · Bottom 25%
Dividend yield (12 months)2.2% · Above median
Valuation Multiplesvs Medical Instruments & Supplies median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Hangzhou Alltest Biotech Co. Ltd. A Fair Value". https://www.fairvalue-calculator.com/stock/688606
Frequently asked questions
Is Hangzhou Alltest Biotech Co. Ltd. A (688606) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of ¥63.48 versus a price of ¥45.91, about +38% upside (undervalued).
What is the fair value of 688606?
Our model-based fair value for Hangzhou Alltest Biotech Co. Ltd. A is ¥63.48 (as of Nov 7, 2026), built from audited fundamentals. The current price: ¥45.91.
What is the quality score of 688606?
Hangzhou Alltest Biotech Co. Ltd. A has a Quality Score of 60/100. 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 price target for Hangzhou Alltest Biotech Co. Ltd. A (688606)?
Our model-based price target is the fair value of ¥63.48 (as of Nov 7, 2026) from 16 valuation models. Cautious scenario ¥47.61, optimistic scenario ¥79.34. It is a calculation from audited fundamentals, not an analyst target.
What is the Hangzhou Alltest Biotech Co. Ltd. A stock forecast for 2026?
Our models put fair value at ¥63.48, about +38% upside versus a price of ¥45.91 (undervalued). Cautious scenario ¥47.61, optimistic scenario ¥79.34. The calculation is refreshed regularly with new filings.
What is the revenue of Hangzhou Alltest Biotech Co. Ltd. A (688606)?
Hangzhou Alltest Biotech Co. Ltd. A reported trailing-twelve-month revenue of about 868M CNY (latest available figure, as of Nov 7, 2026).
Does Hangzhou Alltest Biotech Co. Ltd. A pay a dividend?
Hangzhou Alltest Biotech Co. Ltd. A currently shows a dividend yield of 2.18% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Hangzhou Alltest Biotech Co. Ltd. A (688606) and when is the ex-dividend date?
Hangzhou Alltest Biotech Co. Ltd. A pays a dividend of ¥1.00 per share a year, a dividend yield of 2.2%. The last ex-dividend date was Jun 1, 2026. A dividend has been paid every year since at least 2021. The payout ratio is 57.1% of earnings. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What is the intrinsic value of Hangzhou Alltest Biotech Co. Ltd. A (688606)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hangzhou Alltest Biotech Co. Ltd. A it is ¥63.48 per share (as of Nov 7, 2026), against a price of ¥45.91. It is the blended result of 16 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Hangzhou Alltest Biotech Co. Ltd. A stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 688606 trades below its calculated fair value: price ¥45.91, fair value ¥63.48, a gap of about +38% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 688606?
No. The price is what the market pays today (¥45.91); the fair value is what the company's own numbers justify (¥63.48). For Hangzhou Alltest Biotech Co. Ltd. A the two are ¥17.57 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hangzhou Alltest Biotech Co. Ltd. A worth?
The market values Hangzhou Alltest Biotech Co. Ltd. A at about 3.6B CNY (market capitalisation, as of Nov 7, 2026). Per share that is ¥45.91; our models calculate a fair value of ¥63.48 per share.
What do the bullish and bearish scenarios say about 688606?
Our models span a range for Hangzhou Alltest Biotech Co. Ltd. A: cautious scenario ¥47.61, base ¥63.48, optimistic ¥79.34 per share (as of Nov 7, 2026, price ¥45.91). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 688606?
Hangzhou Alltest Biotech Co. Ltd. A trades at a price-to-earnings ratio of 26.2 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥63.48 is built from several models across several years. Other multiples: P/B 0.9, P/S 4.2, EV/EBITDA 15.3.
How solid is the balance sheet of Hangzhou Alltest Biotech Co. Ltd. A (688606)?
Balance-sheet figures for Hangzhou Alltest Biotech Co. Ltd. A (as of Nov 7, 2026): return on equity 3.6%. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is 688606 from its 52-week high?
Hangzhou Alltest Biotech Co. Ltd. A trades at ¥45.91, about 35% below its 52-week high of ¥70.64 and 12% above the low of ¥41.00 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ¥63.48 is for.
Which stocks are comparable to Hangzhou Alltest Biotech Co. Ltd. A?
From the same area (Healthcare) we also value Intuitive Surgical, Inc, EssilorLuxottica Société anonyme, Becton, Dickinson and Company, Medline Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Hangzhou Alltest Biotech Co. Ltd. A stock attractive at the current price?
The data as of Nov 7, 2026: price ¥45.91, calculated fair value ¥63.48 (+38%), Quality Score 60/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 688606 calculated?
We run Hangzhou Alltest Biotech Co. Ltd. A through 16 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ¥63.48 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Hangzhou Alltest Biotech Co. Ltd. A currently trades 28% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Hangzhou Alltest Biotech Co. Ltd. A (688606)?
The closing price on Nov 6, 2026 was ¥45.91. Our model-based fair value is ¥63.48, about +38% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hangzhou Alltest Biotech Co. Ltd. A right now?
The price is below even our cautious bear case (¥47.61). The market is more pessimistic than our downside scenario. Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Hangzhou Alltest Biotech Co. Ltd. A
How large is the market capitalisation of Hangzhou Alltest Biotech Co. Ltd. A (688606)?
The market capitalisation of Hangzhou Alltest Biotech Co. Ltd. A is 3.6B CNY (≈ $547M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Hangzhou Alltest Biotech Co. Ltd. A (688606)?
The price-to-sales ratio of Hangzhou Alltest Biotech Co. Ltd. A is 4.20 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Hangzhou Alltest Biotech Co. Ltd. A (688606)?
Earnings per share at Hangzhou Alltest Biotech Co. Ltd. A are ¥1.75 (price ÷ EPS = P/E 26.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hangzhou Alltest Biotech Co. Ltd. A (688606)?
The dividend yield of Hangzhou Alltest Biotech Co. Ltd. A is 2.2% (payout 57.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Hangzhou Alltest Biotech Co. Ltd. A (688606)?
The net margin of Hangzhou Alltest Biotech Co. Ltd. A is 16.0% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Hangzhou Alltest Biotech Co. Ltd. A (688606)?
The return on equity (ROE) of Hangzhou Alltest Biotech Co. Ltd. A is 3.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Hangzhou Alltest Biotech Co. Ltd. A (688606)?
On an EBIT basis the return on assets of Hangzhou Alltest Biotech Co. Ltd. A is 14.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Hangzhou Alltest Biotech Co. Ltd. A (688606)?
The operating margin of Hangzhou Alltest Biotech Co. Ltd. A is 16.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hangzhou Alltest Biotech Co. Ltd. A (688606)?
Revenue at Hangzhou Alltest Biotech Co. Ltd. A is growing −11.1% versus a year earlier (3y avg −35.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Hangzhou Alltest Biotech Co. Ltd. A (688606)?
Earnings per share at Hangzhou Alltest Biotech Co. Ltd. A are growing −55.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Hangzhou Alltest Biotech Co. Ltd. A (688606) generate?
The free cash flow of Hangzhou Alltest Biotech Co. Ltd. A is −12.5M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Hangzhou Alltest Biotech Co. Ltd. A (688606) hold?
Hangzhou Alltest Biotech Co. Ltd. A holds more cash than debt, 919M CNY net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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Nov 7, 2026