Hangzhou Alltest Biotech Co. Ltd. A (688606) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Hangzhou Alltest Biotech Co. Ltd. A ¥60.57, price ¥47.59, upside +27.3%, quality 60 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range ¥41.00 – ¥120.93 · fair‑value band ¥45.43 – ¥75.71 · the ¥47.59 price screens below the ¥60.57 fair value. Dashed = 300-day average. As of Sep 23, 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. The company offers rapid diagnostic reagents, including drug and drug abuse, infectious disease, women's health, tumor marker, and cardiac marker testing products.
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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. 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 ¥47.59, while our model-based Fair Value estimate is ¥60.57, implying the stock looks roughly 21.4% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ¥90.45 per share, and 8 of the 15 models we run sit above the ¥47.59 price.
Bear case: the DCF Models group reads lowest at ¥27.31, and 7 of the 15 models stay below the price. Evidence for this calculation is high.
Scenario range: ¥45.43 (bear) to ¥75.71 (bull), the price of ¥47.59 sits inside 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.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
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 3.8B CNY (≈ $564M) · P/E ratio 21.2 · P/S ratio 5.07 · EPS (TTM) ¥2.25 · Dividend yield 4.2% · Net margin 24.0% · Return on equity 4.6% · Return on assets (EBIT) 14.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades about 33% below its 52-week high and 16% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −12% fair-value upside, at 27%, 688606 screens cheaper than that median.
Fair Value models
Bear ¥45.43Fair Value ¥60.57Bull ¥75.71
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (¥0.1829 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.Evidence ⓘEvidence = 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.19/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+5.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−35.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−4.3%
Start year 2020 (pandemic)
Revenue growth 9 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+31.8%
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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.
−18.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−23.1%
Dividend (yield on the price)4.2%
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.−23% vs 13%, 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 · 205 stocks
Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside+27% · Top 25%
Profitability
Return on equity (TTM)5% · Below median
Return on assets2% · Below median
Net margin (TTM)20% · Top 25%
Operating margin (TTM)15% · Above median
Growth and dividend
Revenue growth−6% · Bottom 25%
Dividend yield (TTM)4.2% · Top 25%
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 Sep 23, 2026, our model estimates a fair value of ¥60.57 versus a price of ¥47.59, about +27% upside (undervalued).
What is the fair value of 688606?
Our model-based fair value for Hangzhou Alltest Biotech Co. Ltd. A is ¥60.57 (as of Sep 23, 2026), built from audited fundamentals. The current price: ¥47.59.
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 ¥60.57 (as of Sep 23, 2026) from 15 valuation models. Cautious scenario ¥45.43, optimistic scenario ¥75.71. 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 ¥60.57, about +27% upside versus a price of ¥47.59 (undervalued). Cautious scenario ¥45.43, optimistic scenario ¥75.71. 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 892M CNY (latest available figure, as of Sep 23, 2026).
Does Hangzhou Alltest Biotech Co. Ltd. A pay a dividend?
Hangzhou Alltest Biotech Co. Ltd. A currently shows a dividend yield of about 4.20% relative to its recent price (as of Sep 23, 2026).
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 ¥60.57 per share (as of Sep 23, 2026), against a price of ¥47.59. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Hangzhou Alltest Biotech Co. Ltd. A stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 688606 trades below its calculated fair value: price ¥47.59, fair value ¥60.57, a gap of about +27% (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 (¥47.59); the fair value is what the company's own numbers justify (¥60.57). For Hangzhou Alltest Biotech Co. Ltd. A the two are ¥12.98 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 3.8B CNY (market capitalisation, as of Sep 23, 2026). Per share that is ¥47.59; our models calculate a fair value of ¥60.57 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 ¥45.43, base ¥60.57, optimistic ¥75.71 per share (as of Sep 23, 2026, price ¥47.59). 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 21.2 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥60.57 is built from several models across several years. Other multiples: P/B 1.0, P/S 4.2, EV/EBITDA 14.3.
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 Sep 23, 2026): return on equity 4.6%. 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 ¥47.59, about 33% below its 52-week high of ¥70.64 and 16% above the low of ¥41.00 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of ¥60.57 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, Medline Inc, Becton, Dickinson and Company, 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 Sep 23, 2026: price ¥47.59, calculated fair value ¥60.57 (+27%), Quality Score 60/100, from 15 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 15 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥60.57, 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 14.1 % above its aggregate fair value. Hangzhou Alltest Biotech Co. Ltd. A currently trades 27 % 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 Sep 23, 2026 was ¥47.59. Our model-based fair value is ¥60.57, about +27% 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?
Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
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 3.8B CNY (≈ $564M). 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 5.07 (P/E × margin). 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 ¥2.25 (price ÷ EPS = P/E 21.2). 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 4.2% (payout 88.9%). 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 24.0% (fiscal year 2025). 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 4.6% (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 15.4% (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 −6.3% 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 −68.8% 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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