Poly Developments and Holdings Group Co., Ltd.

SHSE:600048 Stock Report

Market Cap: CN¥119.4b

Poly Developments and Holdings Group Valuation

Is 600048 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 600048 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 600048 (CN¥10.06) is trading below our estimate of fair value (CN¥17.96)

Significantly Below Fair Value: 600048 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 600048?

Key metric: As 600048 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 600048. This is calculated by dividing 600048's market cap by their current earnings.
What is 600048's PE Ratio?
PE Ratio18.1x
EarningsCN¥6.59b
Market CapCN¥119.37b

Price to Earnings Ratio vs Peers

How does 600048's PE Ratio compare to its peers?

The above table shows the PE ratio for 600048 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average19.7x
001979 China Merchants Shekou Industrial Zone Holdings
21.6x14.3%CN¥99.9b
600848 Shanghai Lingang HoldingsLtd
29.4x13.6%CN¥26.9b
600177 Youngor Fashion
11.1xn/aCN¥36.0b
002244 Hangzhou Binjiang Real Estate GroupLtd
16.8x23.0%CN¥28.5b
600048 Poly Developments and Holdings Group
18.1x18.0%CN¥119.4b

Price-To-Earnings vs Peers: 600048 is good value based on its Price-To-Earnings Ratio (18.1x) compared to the peer average (19.7x).

Price to Earnings Ratio vs Industry

How does 600048's PE Ratio compare vs other companies in the CN Real Estate Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
002147 Neoglory prosperity
1xn/aUS$100.99m
No more companies available in this PE range
600048 18.1xIndustry Avg. 49.7xNo. of Companies8PE020406080100+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 600048 is good value based on its Price-To-Earnings Ratio (18.1x) compared to the CN Real Estate industry average (49.7x).

Price to Earnings Ratio vs Fair Ratio

What is 600048'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.

600048 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio18.1x
Fair PE Ratio32.1x

Price-To-Earnings vs Fair Ratio: 600048 is good value based on its Price-To-Earnings Ratio (18.1x) compared to the estimated Fair Price-To-Earnings Ratio (32.1x).

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 600048 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCN¥10.06
CN¥10.41
+3.4%
25.0%CN¥17.00CN¥8.07n/a10
Nov ’25CN¥10.94
CN¥10.41
-4.9%
25.0%CN¥17.00CN¥8.07n/a10
Oct ’25CN¥11.03
CN¥9.27
-16.0%
9.0%CN¥10.60CN¥8.07n/a10
Sep ’25CN¥8.12
CN¥9.35
+15.1%
9.9%CN¥10.80CN¥8.07n/a10
Aug ’25CN¥8.46
CN¥10.95
+29.4%
20.6%CN¥15.96CN¥8.40n/a11
Jul ’25CN¥9.31
CN¥12.25
+31.6%
35.7%CN¥25.00CN¥8.40n/a12
Jun ’25CN¥10.22
CN¥12.00
+17.4%
37.9%CN¥25.00CN¥8.40n/a11
May ’25CN¥8.91
CN¥12.29
+37.9%
37.4%CN¥25.00CN¥8.40n/a12
Apr ’25CN¥9.09
CN¥13.21
+45.3%
33.2%CN¥25.00CN¥8.95n/a12
Mar ’25CN¥9.58
CN¥13.69
+42.9%
32.9%CN¥25.00CN¥8.95n/a12
Feb ’25CN¥9.24
CN¥14.09
+52.5%
31.5%CN¥25.00CN¥8.95n/a12
Jan ’25CN¥9.90
CN¥16.64
+68.0%
17.7%CN¥25.00CN¥13.00n/a12
Dec ’24CN¥10.25
CN¥16.97
+65.6%
17.1%CN¥25.00CN¥13.00n/a12
Nov ’24CN¥10.94
CN¥16.97
+55.1%
17.1%CN¥25.00CN¥13.00CN¥10.9412
Oct ’24CN¥12.74
CN¥17.99
+41.2%
15.4%CN¥25.00CN¥14.50CN¥11.0312
Sep ’24CN¥14.25
CN¥18.40
+29.2%
15.0%CN¥25.00CN¥14.50CN¥8.1212
Aug ’24CN¥14.21
CN¥19.11
+34.5%
13.6%CN¥25.00CN¥15.80CN¥8.4612
Jul ’24CN¥13.03
CN¥19.39
+48.8%
13.1%CN¥25.00CN¥15.80CN¥9.3112
Jun ’24CN¥12.81
CN¥19.39
+51.3%
13.1%CN¥25.00CN¥15.80CN¥10.2212
May ’24CN¥13.91
CN¥19.65
+41.2%
13.2%CN¥25.00CN¥15.80CN¥8.9112
Apr ’24CN¥14.13
CN¥19.94
+41.1%
11.2%CN¥25.00CN¥16.00CN¥9.0911
Mar ’24CN¥15.13
CN¥20.37
+34.7%
9.3%CN¥25.00CN¥17.00CN¥9.5812
Feb ’24CN¥15.59
CN¥20.37
+30.7%
9.3%CN¥25.00CN¥17.00CN¥9.2412
Jan ’24CN¥15.13
CN¥20.87
+37.9%
7.6%CN¥25.00CN¥18.00CN¥9.9012
Dec ’23CN¥16.57
CN¥20.69
+24.9%
8.5%CN¥25.00CN¥18.00CN¥10.2512
Nov ’23CN¥13.61
CN¥20.77
+52.6%
8.5%CN¥25.00CN¥17.10CN¥10.9412

Analyst Forecast: Target price is less than 20% higher than the current share price.

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