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China Reinsurance(Group)Corp (1508) Fair Value & Analysis

Financial Services · HK · Market cap HK$46.7B (≈ $6.0B) · ISIN CNE100002342

What is China Reinsurance(Group)Corp really worth?

CR China Reinsurance(Group)Corp 1508 · HK
PriceHK$1.34
Fair ValueHK$2.43
Upside+82.0%
Quality61/100

A solid business, trading 45% below our fair value of HK$2.43.

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Strengths

Low debt · generates free cash flow
Ranks above peers (10/14)

Risks

!Weak Growth (revenue 5y −7.6 %/yr)
!Thin margins · 9.1% net margin
!Moderate moat 46/100
!Evidence only low, so the estimate is less certain

For context

·5.17% dividend yield
Evidence: Low Range HK$1.82 – HK$3.03

Fair value as of: Aug 13, 2026

From 4 valuation models · updated 22 days ago

Fair value updated Aug 13, 2026, revised from HK$2.74 to HK$2.43 (−11.3%) since Aug 5, 2026. Share price +0.4% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price is below even our cautious bear case (HK$1.82). 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 (61/100) at a price below fair value, the discount is the argument here, not the business quality.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Price vs Fair Value (5 years)

HK$1.70 HK$0.3178 Fair Value HK$2.43 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range HK$0.3178 – HK$1.70 · fair‑value band HK$1.82 – HK$3.03 · the HK$1.34 price screens below the HK$2.43 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

China Reinsurance(Group)Corp (1508) currently trades at HK$1.34, while our model-based Fair Value estimate is HK$2.43, implying the stock looks roughly 45.1% undervalued today. The Quality Score stands at 61/100 (solid quality), in the Financial Services sector. Bull case: the Multiples group reads highest at a median of HK$3.52 per share, and 4 of the 4 models we run sit above the HK$1.34 price. Bear case: the Asset-Based group reads lowest at HK$2.09, and 0 of the 4 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, China Reinsurance(Group)Corp generated revenue of HK$108B at a net margin of 9.1%. Revenue grew 9.3% year over year. It earns a return on equity of 8.8%. The balance sheet holds a net cash position of HK$2.8B. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$1.82 (bear case) to HK$3.03 (bull case); at HK$1.34, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 22% below its 52-week high and 30% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 53% fair-value upside, at 82%, 1508 screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly HK$0.0548 per share, which is 2.3 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model 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
Highest evidence
Residual Income best evidence HK$2.65 HK$2.88 HK$3.69 74
P/E Multiple HK$2.64 HK$3.52 HK$4.40 63
P/B Multiple HK$3.28 HK$4.37 HK$5.46 55
All 4 models by family
Multiples
P/E Multiple HK$2.64 HK$3.52 HK$4.40 63
P/B Multiple HK$3.28 HK$4.37 HK$5.46 55
Asset-Based
NCAV (Graham) HK$1.56 HK$2.09 HK$3.12 54
Economic Profit
Residual Income best evidence HK$2.65 HK$2.88 HK$3.69 74

Widest divergence: Multiples (HK$3.52) versus Asset-Based (HK$2.09). Highest evidence: Residual Income (74).

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Key figures & financial health

P/E ratio 4.1 as of Jul 2, 2026
P/S ratio 0.34 P/E × margin
EPS (TTM) HK$0.1500 price ÷ EPS = P/E 4.1
Dividend yield 5.2% payout 46.0%
Net margin 8.4% FY2025
Return on equity 8.8% TTM
More key figures
Profitability
Return on assets (EBIT) 6.7% avg 5y
Operating margin 10.8% TTM
Growth
Revenue (TTM) HK$108B TTM
Revenue growth (YoY) +9.3% 3y avg +8.6%
EPS growth (YoY) −29.6%
Balance sheet & cash flow
Free cash flow HK$28.2B FY2025
Net cash HK$2.8B FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 61/100

Of which business quality 61 · Market factors (momentum, volatility) 43

Profitability 31
Margins and returns on capital today
Quality Growth 54
Are margins and returns improving?
Cashflow 97
Earnings quality: real cash, not paper profit
Fin. Strength 41
Balance sheet, leverage, solvency risk
Investment 73
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 35
Price trend over the last 3–12 months (market factor)
52W Momentum 28
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

China Reinsurance (Group) Corporation, together with its subsidiaries, operates as a reinsurance company in the People's Republic of China and internationally. The company operates through Property and Casualty Reinsurance, Life and Health Reinsurance, Primary Property and Casualty Insurance, Asset Management, and Other segments.

Full company description

China Reinsurance (Group) Corporation, together with its subsidiaries, operates as a reinsurance company in the People's Republic of China and internationally. The company operates through Property and Casualty Reinsurance, Life and Health Reinsurance, Primary Property and Casualty Insurance, Asset Management, and Other segments. It offers reinsurance products, including motor, commercial and household property, engineering, marine hull, liability, credit and guarantee, health, agriculture, space and aviation, energy, nuclear, etc.; and insurance agency services, such as risk identification, assessment and consulting, insurance program design, insurance procurement, insurance policy management, claim management, disaster and accident prevention management, overall risk management, and reinsurance arrangement products. The company also provides specialty insurance, asset management, insurance brokerage, risk evaluation and management, underwriting agency, information technology, risk advisory, management consulting, and investment management services, as well as issues bonds. In addition, it is involved in the e-commerce business; management of insurance; and provision of multi-asset investment products, such as project-based financing programs, asset-backed securities, infrastructure investment programs, and real estate investment programs. The company was founded in 1949 and is headquartered in Beijing, the People's Republic of China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

China Reinsurance(Group)Corp reported revenue of 113B CNY in FY2025 versus 164B CNY in FY2021, a compound −8.9%/yr. Reported net income was 9.5B CNY in FY2025, compounding +12.4%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$113B
Latest YoY
+32.2%
Avg. revenue growth/yr (3Y) 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.
+8.6%
Avg. revenue growth/yr (5Y) 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.
−7.6%
Avg. revenue growth/yr (16Y) 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.
+6.8%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+15.0% (9.8 + 5.2)
Revenue −8.9%/yr
FY21 164B CNY
FY22 88.3B CNY
FY23 95.0B CNY
FY24 85.5B CNY
FY25 113B CNY
Net income +12.4%/yr
FY21 6.0B CNY
FY22 −325M CNY
FY23 5.7B CNY
FY24 10.6B CNY
FY25 9.5B CNY
Character of growth · EPS growth decomposed (2014-2025) +4.5 % p.a.
Revenue per share +0.7 %

of which total revenue +1.6 % · buybacks/dilution −0.9 %

EBIT margin +5.2 %
Tax rate +0.2 %
Residual (interest, one-offs) −1.5 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "China Reinsurance(Group)Corp Fair Value". https://www.fairvalue-calculator.com/stock/1508

Peer Group

Insurance - Reinsurance · 29 stocks

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.

Quality Score 62 · Top 25%
Fair Value upside +82% · Top 25%
Return on equity (TTM) 9% · Bottom 25%
Return on assets 2% · Bottom 25%
Net margin (TTM) 9% · Below median
Operating margin (TTM) 11% · Below median
Revenue growth 9% · Top 25%
Dividend yield (TTM) 5.2% · Above median
Debt / equity 0.12× · Lower than median

Valuation Multiples vs Insurance - Reinsurance median · lower = cheaper

P/E (TTM) 4.1× · Cheaper than 75% of peers
P/B 0.43× · Cheaper than 75% of peers
P/S (TTM) 0.43× · Cheaper than 75% of peers
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 3.1× · Cheaper than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 70
FUTURE47 · sector 0
PAST35 · sector 55
HEALTH94 · sector 89
DIVIDEND100 · sector 85

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 - Reinsurance stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
MUV2 MUV2 €518.00 €460.14 −11%
Swiss Re AG SREN CHF 141.15 CHF 137.55 −3%
Hannover Rück SE HNR1 €258.20 €216.20 −16%
Reinsurance Group RGA $246.02 $261.04 +6%
Everest Group EG $370.06 $507.47 +37%
RenaissanceRe Holdings RNR $330.41 $563.91 +71%
SCOR SE SDRC €34.14 €66.75 +96%
General Insurance Corporation GICRE ₹355.85 ₹594.47 +67%
Hamilton Insurance Group HG $35.35 $54.04 +53%
SiriusPoint Ltd SPNT $23.98 $37.12 +55%

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Frequently asked questions

Is China Reinsurance(Group)Corp (1508) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$2.43 versus a price of HK$1.34, about +82% upside (undervalued).
What is the fair value of 1508?
Our model-based fair value for China Reinsurance(Group)Corp is HK$2.43 (as of Aug 13, 2026), built from audited fundamentals. The current price: HK$1.34.
What is the quality score of 1508?
China Reinsurance(Group)Corp has a Quality Score of 61/100. 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 revenue of China Reinsurance(Group)Corp (1508)?
China Reinsurance(Group)Corp reported trailing-twelve-month revenue of about HK$108B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 1508?
The net profit margin of China Reinsurance(Group)Corp is about 9.1%, meaning it keeps roughly 9.1% of revenue as net income. Based on the latest reported figures.
Does China Reinsurance(Group)Corp pay a dividend?
China Reinsurance(Group)Corp currently shows a dividend yield of about 5.17% relative to its recent price (as of Aug 13, 2026).
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