Sinolink Securities Co., Ltd.

SHSE:600109 Stock Report

Market Cap: CN¥32.1b

Sinolink Securities Valuation

Is 600109 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of 600109 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: 600109 (CN¥8.72) is trading above our estimate of future cash flow value (CN¥6.98)

Significantly Below Future Cash Flow Value: 600109 is trading above our estimate of future cash flow value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 600109?

Key metric: As 600109 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 600109. This is calculated by dividing 600109's market cap by their current earnings.
What is 600109's PE Ratio?
PE Ratio12.9x
EarningsCN¥2.48b
Market CapCN¥32.06b

Price to Earnings Ratio vs Peers

How does 600109's PE Ratio compare to its peers?

The above table shows the PE ratio for 600109 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average33.7x
002670 Guosheng Securities
91.2xn/aCN¥29.8b
002673 Western SecuritiesLtd
17.7x2.53%CN¥33.9b
601108 Caitong SecuritiesLtd
13.2x8.27%CN¥38.4b
000728 Guoyuan Securities
12.8x11.34%CN¥34.3b
600109 Sinolink Securities
12.9x6.76%CN¥32.1b

Price-To-Earnings vs Peers: 600109 is good value based on its Price-To-Earnings Ratio (12.9x) compared to the peer average (33.7x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does 600109's PE Ratio compare vs other companies in the CN Capital Markets Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
600109 12.9xIndustry Avg. 20.8xNo. of Companies15PE01224364860+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 600109 is good value based on its Price-To-Earnings Ratio (12.9x) compared to the CN Capital Markets industry average (20.8x).

Price to Earnings Ratio vs Fair Ratio

What is 600109's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

600109 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.9x
Fair PE Ratio20x

Price-To-Earnings vs Fair Ratio: 600109 is good value based on its Price-To-Earnings Ratio (12.9x) compared to the estimated Fair Price-To-Earnings Ratio (20x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 600109 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCN¥8.72
CN¥11.26
+29.11%
11.18%CN¥13.31CN¥9.58n/a5
Feb ’27CN¥9.32
CN¥11.49
+23.28%
8.79%CN¥13.31CN¥10.50n/a5
Jan ’27CN¥9.30
CN¥11.49
+23.55%
8.79%CN¥13.31CN¥10.50n/a5
Dec ’26CN¥9.19
CN¥11.49
+25.03%
8.79%CN¥13.31CN¥10.50n/a5
Nov ’26CN¥9.88
CN¥11.48
+16.17%
8.88%CN¥13.31CN¥10.50n/a5
Oct ’26CN¥10.23
CN¥11.48
+12.20%
8.88%CN¥13.31CN¥10.50n/a5
Sep ’26CN¥10.36
CN¥10.66
+2.88%
17.17%CN¥13.31CN¥8.00n/a5
Aug ’26CN¥9.25
CN¥9.49
+2.57%
13.48%CN¥11.80CN¥8.00n/a5
Jul ’26CN¥8.73
CN¥9.49
+8.68%
13.48%CN¥11.80CN¥8.00n/a5
Jun ’26CN¥8.33
CN¥9.49
+13.90%
13.48%CN¥11.80CN¥8.00n/a5
May ’26CN¥8.12
CN¥9.49
+16.85%
13.48%CN¥11.80CN¥8.00n/a5
Apr ’26CN¥8.42
CN¥9.44
+12.15%
12.84%CN¥11.80CN¥8.00n/a6
Mar ’26CN¥8.52
CN¥9.44
+10.84%
12.84%CN¥11.80CN¥8.00CN¥9.136
Feb ’26CN¥8.22
CN¥9.44
+14.88%
12.84%CN¥11.80CN¥8.00CN¥9.326
Jan ’26CN¥8.73
CN¥9.28
+6.26%
14.69%CN¥11.80CN¥7.70CN¥9.306
Dec ’25CN¥9.11
CN¥9.28
+1.83%
14.69%CN¥11.80CN¥7.70CN¥9.196
Nov ’25CN¥9.03
CN¥9.28
+2.73%
14.69%CN¥11.80CN¥7.70CN¥9.886
Oct ’25CN¥9.81
CN¥8.77
-10.58%
9.54%CN¥10.02CN¥7.70CN¥10.235
Sep ’25CN¥7.35
CN¥9.78
+32.99%
15.49%CN¥11.40CN¥7.70CN¥10.364
Aug ’25CN¥7.89
CN¥10.50
+33.08%
7.53%CN¥11.40CN¥9.27CN¥9.255
Jul ’25CN¥7.56
CN¥10.50
+38.89%
7.53%CN¥11.40CN¥9.27CN¥8.735
Jun ’25CN¥8.20
CN¥10.50
+28.05%
7.53%CN¥11.40CN¥9.27CN¥8.335
May ’25CN¥8.76
CN¥10.55
+20.39%
7.83%CN¥11.40CN¥9.27CN¥8.125
Apr ’25CN¥8.67
CN¥10.91
+25.88%
6.16%CN¥11.40CN¥9.62CN¥8.425
Mar ’25CN¥9.17
CN¥10.91
+19.02%
6.16%CN¥11.40CN¥9.62CN¥8.525
CN¥11.26
Fair Value
22.5% undervalued intrinsic discount
5
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/03/05 01:11
End of Day Share Price 2026/03/05 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Sinolink Securities Co., Ltd. is covered by 16 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Yifan LiuBofA Global Research
Yifan LiuBofA Global Research
Yung ChenCCB International Securities Limited