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Sunshine Ins Grp Co Ltd (6963) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Sunshine Ins Grp Co Ltd HK$5.93, price HK$3.67, upside +61.6%, quality 54 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
  3. Add to watchlist

Financial Services · HK · Home China · ISIN CNE100005MM4

SI Thin data Sep 24, 2026

Sunshine Ins Grp Co Ltd

6963 · HK

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

✓Fair value HK$5.93 · Strongly undervalued (+62%)
!Quality 54/100
!Weak Growth (revenue 5y −5.2 %/yr)
!Thin margins · 8.1% net margin (TTM)
✓Low debt · generates free cash flow
·5.18% dividend yield
!Mixed vs. peers (7/14)
!Narrow moat 41/100
!Evidence only low, so the estimate is less certain
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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 →

Price vs Fair Value

HK$4.51 HK$1.82 Fair Value HK$5.93 Dec 2022 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

45‑month range HK$1.82 – HK$4.51 · fair‑value band HK$5.27 – HK$10.04 · the HK$3.67 price screens below the HK$5.93 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Sunshine Insurance Group Company Limited provides various insurance products and related services in the People's Republic of China. It operates through three segments: Life Insurance, Property and Casualty Insurance, and Other Businesses segments.

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Sunshine Insurance Group Company Limited provides various insurance products and related services in the People's Republic of China. It operates through three segments: Life Insurance, Property and Casualty Insurance, and Other Businesses segments. The company offers life, health, and accident insurance products; property and casualty insurance products comprising automobile, accident, short-term health, guarantee, liability, agriculture, cargo, and commercial property insurance products. It also provides credit and guarantee insurance, and asset management services. The company distributes through individual insurance, bancassurance, group insurance, telemarketing, online sales, and insurance brokers. The company was formerly known as Sunshine Insurance Holdings Co., Ltd. and changed its name to Sunshine Insurance Group Company Limited in 2007. Sunshine Insurance Group Company Limited was founded in 2005 and is based in Wan Chai, Hong Kong.

Stock analysis

Sunshine Ins Grp Co Ltd (6963) currently trades at HK$3.67, while our model-based Fair Value estimate is HK$5.93, implying the stock looks roughly 38.1% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of HK$6.94 per share, and 3 of the 6 models we run sit above the HK$3.67 price.

Bear case: the Dividend Discount group reads lowest at HK$2.15, and 3 of the 6 models stay below the price. Evidence for this calculation is low.

Scenario range: HK$5.27 (bear) to HK$10.04 (bull), the price of HK$3.67 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 54/100 (solid quality), in the Financial Services sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Sunshine Ins Grp Co Ltd reported revenue of 88.3B CNY in FY2025 versus 120B CNY in FY2021, a compound −7.3%/yr. Reported net income was 6.1B CNY in FY2025, compounding +1.1%/yr from FY2021.

Key figures

Market cap HK$42.2B (≈ $5.4B) · P/E ratio 5.4 · P/S ratio 0.38 · EPS (TTM) HK$0.2900 · Dividend yield 5.2% · Net margin 7.0% · Return on equity 10.3% · Return on assets (EBIT) 8.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).

What moves the price

The share trades about 12% below its 52-week high and 14% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −12% fair-value upside, at 62%, 6963 screens cheaper than that median.

Fair Value models

Bear HK$5.27 Fair Value HK$5.93 Bull HK$10.04
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 (HK$0.0732 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.
Highest evidence
Residual Income HK$4.45 HK$4.96 HK$7.81 73
Gordon GGM HK$1.48 HK$2.45 HK$3.54 65
DDM Multi-Stage HK$1.48 HK$2.15 HK$2.86 65
All 6 models by family
Dividend Discount
Gordon GGM HK$1.48 HK$2.45 HK$3.54 65
DDM Multi-Stage HK$1.48 HK$2.15 HK$2.86 65
Multiples
P/E Multiple HK$5.21 HK$6.94 HK$8.68 63
P/B Multiple HK$5.32 HK$7.09 HK$8.86 55
Asset-Based
NCAV (Graham) HK$2.53 HK$3.39 HK$5.06 54
Economic Profit
Residual Income HK$4.45 HK$4.96 HK$7.81 73

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Quality Score breakdown

Overall quality 54/100

Of which business quality 50 · Market factors (momentum, volatility) 49

Profitability 26
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 11
Balance sheet, leverage, solvency risk
Investment 76
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 38
Price trend over the last 3–12 months (market factor)
52W Momentum 38
Distance to the 52-week high (market factor)
Net Issuance 64
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+17.4%
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.
+9.8%
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.
−5.2%
Start year 2020 (pandemic)
Revenue growth 6 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.
−0.1%
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.
+4.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−0.3%
Dividend (yield on the price)5.2%
Profit margin 2019 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.6% → 8%

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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.Insurance - Property & Casualty · 119 stocks

Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 51 · Below median
Fair Value upside +62% · Top 25%
Profitability
Return on equity (TTM) 10% · Below median
Return on assets 1% · Bottom 25%
Net margin (TTM) 8% · Below median
Operating margin (TTM) 6% · Below median
Growth and dividend
Revenue growth −1% · Bottom 25%
Dividend yield (TTM) 5.2% · Top 25%
Balance sheet
Debt / equity 0.34× · Highest 25%

Valuation Multiplesvs Insurance - Property & Casualty median · lower = cheaper

P/E (TTM) 5.4× · Cheapest 25%
P/B 0.62× · Cheapest 25%
P/S (TTM) 0.46× · Cheapest 25%
P/FCF 0.1× · Cheapest 25%
EV/EBITDA 3.6× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 20
FUTURE (revenue growth)0 · sector 32
PAST (return on equity)41 · sector 56
HEALTH (low debt)83 · sector 91
DIVIDEND (yield)100 · sector 50

Context: sector, industry, market

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

Similar stocks

10 more Insurance - Property & Casualty stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
The Progressive Corporation PGR $206.94 $160.25 −23%
Chubb Limited CB $335.77 $234.73 −30%
The Travelers Companies, Inc TRV $362.01 $274.42 −24%
The Allstate Corporation ALL $229.50 $316.11 +38%
The People's Insurance Company 601319 ¥8.07 ¥9.25 +15%
PICC Property and Casualty Company 2328 HK$16.84 HK$18.92 +12%
Intact Financial Corporation IFC C$254.29 C$167.46 −34%
Fairfax Financial Holdings FFH C$2,260 C$3,226 +43%
Cincinnati Financial Corporation CINF $165.83 $146.70 −12%
W. R. Berkley Corporation WRB $68.17 $47.08 −31%

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Sunshine Ins Grp Co Ltd · Fair Value
HK$5.93 +38%Fair Value
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Cite: Fair Value Calculator (2026). "Sunshine Ins Grp Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/6963

Frequently asked questions

Is Sunshine Ins Grp Co Ltd (6963) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of HK$5.93 versus a price of HK$3.67, about +62% upside (undervalued).
What is the fair value of 6963?
Our model-based fair value for Sunshine Ins Grp Co Ltd is HK$5.93 (as of Sep 24, 2026), built from audited fundamentals. The current price: HK$3.67.
What is the quality score of 6963?
Sunshine Ins Grp Co Ltd has a Quality Score of 54/100. 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 Sunshine Ins Grp Co Ltd (6963)?
Our model-based price target is the fair value of HK$5.93 (as of Sep 24, 2026) from 6 valuation models. Cautious scenario HK$5.27, optimistic scenario HK$10.04. It is a calculation from audited fundamentals, not an analyst target.
What is the Sunshine Ins Grp Co Ltd stock forecast for 2026?
Our models put fair value at HK$5.93, about +62% upside versus a price of HK$3.67 (undervalued). Cautious scenario HK$5.27, optimistic scenario HK$10.04. The calculation is refreshed regularly with new filings.
What is the revenue of Sunshine Ins Grp Co Ltd (6963)?
Sunshine Ins Grp Co Ltd reported trailing-twelve-month revenue of about 78.3B CNY (latest available figure, as of Sep 24, 2026).
Does Sunshine Ins Grp Co Ltd pay a dividend?
Sunshine Ins Grp Co Ltd currently shows a dividend yield of about 5.18% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Sunshine Ins Grp Co Ltd (6963)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sunshine Ins Grp Co Ltd it is HK$5.93 per share (as of Sep 24, 2026), against a price of HK$3.67. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Sunshine Ins Grp Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 6963 trades below its calculated fair value: price HK$3.67, fair value HK$5.93, a gap of about +62% (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 6963?
No. The price is what the market pays today (HK$3.67); the fair value is what the company's own numbers justify (HK$5.93). For Sunshine Ins Grp Co Ltd the two are HK$2.26 per share apart. That gap is exactly why we show both numbers side by side.
How much is Sunshine Ins Grp Co Ltd worth?
The market values Sunshine Ins Grp Co Ltd at about HK$42.2B (market capitalisation, as of Sep 24, 2026). Per share that is HK$3.67; our models calculate a fair value of HK$5.93 per share.
What do the bullish and bearish scenarios say about 6963?
Our models span a range for Sunshine Ins Grp Co Ltd: cautious scenario HK$5.27, base HK$5.93, optimistic HK$10.04 per share (as of Sep 24, 2026, price HK$3.67). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6963?
Sunshine Ins Grp Co Ltd trades at a price-to-earnings ratio of 5.4 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$5.93 is built from several models across several years. Other multiples: P/B 0.6, P/S 0.5, EV/EBITDA 3.6.
How solid is the balance sheet of Sunshine Ins Grp Co Ltd (6963)?
Balance-sheet figures for Sunshine Ins Grp Co Ltd (as of Sep 24, 2026): return on equity 10.3%, debt of 0.34 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is 6963 from its 52-week high?
Sunshine Ins Grp Co Ltd trades at HK$3.67, about 12% below its 52-week high of HK$4.18 and 14% above the low of HK$3.22 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of HK$5.93 is for.
Which stocks are comparable to Sunshine Ins Grp Co Ltd?
From the same area (Financial Services) we also value The Progressive Corporation, Chubb Limited, The Travelers Companies, Inc, The Allstate Corporation, 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 Sunshine Ins Grp Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price HK$3.67, calculated fair value HK$5.93 (+62%), Quality Score 54/100, from 6 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 6963 calculated?
We run Sunshine Ins Grp Co Ltd through 6 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 HK$5.93, 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. Sunshine Ins Grp Co Ltd currently trades 62 % 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 Sunshine Ins Grp Co Ltd (6963)?
The closing price on Sep 23, 2026 was HK$3.67. Our model-based fair value is HK$5.93, about +62% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Sunshine Ins Grp Co Ltd right now?
The price is below even our cautious bear case (HK$5.27). The market is more pessimistic than our downside scenario. 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 quality (54/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (HK$5.27 to HK$10.04) leaves room in how you read the outcome.

Key figures of Sunshine Ins Grp Co Ltd

How large is the market capitalisation of Sunshine Ins Grp Co Ltd (6963)?
The market capitalisation of Sunshine Ins Grp Co Ltd is HK$42.2B (≈ $5.4B). 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 Sunshine Ins Grp Co Ltd (6963)?
The price-to-sales ratio of Sunshine Ins Grp Co Ltd is 0.38 (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 Sunshine Ins Grp Co Ltd (6963)?
Earnings per share at Sunshine Ins Grp Co Ltd are HK$0.2900 (price ÷ EPS = P/E 5.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Sunshine Ins Grp Co Ltd (6963)?
The dividend yield of Sunshine Ins Grp Co Ltd is 5.2% (payout 65.5%). 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 Sunshine Ins Grp Co Ltd (6963)?
The net margin of Sunshine Ins Grp Co Ltd is 7.0% (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 Sunshine Ins Grp Co Ltd (6963)?
The return on equity (ROE) of Sunshine Ins Grp Co Ltd is 10.3% (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 Sunshine Ins Grp Co Ltd (6963)?
On an EBIT basis the return on assets of Sunshine Ins Grp Co Ltd is 8.5% (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 Sunshine Ins Grp Co Ltd (6963)?
The operating margin of Sunshine Ins Grp Co Ltd is 6.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Sunshine Ins Grp Co Ltd (6963)?
Revenue at Sunshine Ins Grp Co Ltd is growing −1.3% versus a year earlier (3y avg +9.8%). 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 Sunshine Ins Grp Co Ltd (6963)?
Earnings per share at Sunshine Ins Grp Co Ltd are growing +26.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Sunshine Ins Grp Co Ltd (6963) generate?
The free cash flow of Sunshine Ins Grp Co Ltd is 80.6B 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 debt does Sunshine Ins Grp Co Ltd (6963) carry?
The net debt of Sunshine Ins Grp Co Ltd is 26.0B CNY (fiscal year 2025, ≈ 0.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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