Hoyuan Green Energy Co., Ltd.

SHSE:603185 Stock Report

Market Cap: CN¥13.1b

Hoyuan Green Energy Valuation

Is 603185 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 603185 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 603185 (CN¥19.31) is trading above our estimate of fair value (CN¥1.64)

Significantly Below Fair Value: 603185 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 603185?

Key metric: As 603185 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 603185. This is calculated by dividing 603185's market cap by their current revenue.
What is 603185's PS Ratio?
PS Ratio1.7x
SalesCN¥7.62b
Market CapCN¥13.09b

Price to Sales Ratio vs Peers

How does 603185's PS Ratio compare to its peers?

The above table shows the PS ratio for 603185 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average12.9x
688200 Beijing Huafeng Test & Control TechnologyLtd
18.8x27.2%CN¥14.9b
688432 GRINM Semiconductor Materials
15.7x19.2%CN¥14.8b
688429 Changzhou Shichuang EnergyLtd
11.4xn/aCN¥9.6b
605358 Hangzhou Lion ElectronicsLtd
5.9x23.7%CN¥17.3b
603185 Hoyuan Green Energy
1.7x44.4%CN¥13.1b

Price-To-Sales vs Peers: 603185 is good value based on its Price-To-Sales Ratio (1.7x) compared to the peer average (12.9x).

Price to Sales Ratio vs Industry

How does 603185's PS Ratio compare vs other companies in the CN Semiconductor Industry?

13 CompaniesPrice / SalesEstimated GrowthMarket Cap
688223 Jinko Solar
0.8x11.4%US$11.61b
002459 JA Solar Technology
0.7x15.0%US$7.32b
688599 Trina Solar
0.5x12.5%US$6.86b
688472 CSI Solar
1x18.9%US$6.36b
603185 1.7xIndustry Avg. 6.8xNo. of Companies25PS048121620+
13 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 603185 is good value based on its Price-To-Sales Ratio (1.7x) compared to the CN Semiconductor industry average (6.8x).

Price to Sales Ratio vs Fair Ratio

What is 603185's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

603185 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.7x
Fair PS Ratio3.4x

Price-To-Sales vs Fair Ratio: 603185 is good value based on its Price-To-Sales Ratio (1.7x) compared to the estimated Fair Price-To-Sales Ratio (3.4x).

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 603185 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCN¥19.31
CN¥21.10
+9.3%
28.9%CN¥27.20CN¥15.00n/a2
Nov ’25CN¥22.50
CN¥21.10
-6.2%
28.9%CN¥27.20CN¥15.00n/a2
Oct ’25CN¥16.96
CN¥12.20
-28.1%
23.0%CN¥15.00CN¥9.40n/a2
Sep ’25CN¥14.04
CN¥12.20
-13.1%
23.0%CN¥15.00CN¥9.40n/a2
Aug ’25CN¥15.38
CN¥28.03
+82.2%
8.5%CN¥30.40CN¥25.65n/a2
Jul ’25CN¥17.15
CN¥28.03
+63.4%
8.5%CN¥30.40CN¥25.65n/a2
Jun ’25CN¥21.13
CN¥28.03
+32.6%
8.5%CN¥30.40CN¥25.65n/a2
Nov ’24CN¥37.34
CN¥135.34
+262.4%
10.0%CN¥148.88CN¥121.80CN¥22.502
Oct ’24CN¥41.88
CN¥135.34
+223.2%
10.0%CN¥148.88CN¥121.80CN¥16.962
Sep ’24CN¥41.28
CN¥135.34
+227.9%
10.0%CN¥148.88CN¥121.80CN¥14.042
Aug ’24CN¥50.23
CN¥135.34
+169.4%
10.0%CN¥148.88CN¥121.80CN¥15.382
Jul ’24CN¥53.35
CN¥120.76
+126.4%
19.4%CN¥148.88CN¥91.60CN¥17.153
Jun ’24CN¥54.50
CN¥120.76
+121.6%
19.4%CN¥148.88CN¥91.60CN¥21.133
May ’24CN¥63.68
CN¥120.76
+89.6%
19.4%CN¥148.88CN¥91.60CN¥21.973
Apr ’24CN¥73.07
CN¥120.76
+65.3%
19.4%CN¥148.88CN¥91.60CN¥25.053
Mar ’24CN¥79.63
CN¥120.76
+51.7%
19.4%CN¥148.88CN¥91.60CN¥28.153
Feb ’24CN¥81.32
CN¥120.76
+48.5%
19.4%CN¥148.88CN¥91.60CN¥25.233
Jan ’24CN¥75.75
CN¥120.76
+59.4%
19.4%CN¥148.88CN¥91.60CN¥33.283
Dec ’23CN¥83.87
CN¥135.34
+61.4%
10.0%CN¥148.88CN¥121.80CN¥32.642
Nov ’23CN¥89.02
CN¥135.34
+52.0%
10.0%CN¥148.88CN¥121.80CN¥37.342

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

Discover undervalued companies

Hainan Drinda New Energy Technology

CN¥13.4b

Hainan Drinda New Energy Technology Co., Ltd.

2865

CN¥59.29

7D

-2.0%

1Y

-32.5%

JCET Group

CN¥69.6b

Provides integrated-circuit manufacturing and technology services worldwide.

600584

CN¥38.92

7D

-9.9%

1Y

26.5%

Yangling Metron New Material

CN¥11.5b

Researches, develops, manufactures, and sells electroplated diamond wires and tools.

300861

CN¥24.01

7D

-0.2%

1Y

-33.5%