Shenzhou International Group Holdings Ltd (2313) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$66.7B (≈ $8.5B) · ISIN KYG8087W1015

What is Shenzhou International Group Holdings Ltd really worth?

SI Shenzhou International Group Holdings Ltd 2313 · HK

PriceHK$37.16

Fair ValueHK$68.35

Upside+83.9%

Quality62/100

A solid business, trading 46% below our fair value of HK$68.35.

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Strengths

✓Solidly profitable · 18.8% net margin

✓Low debt · generates free cash flow

✓Ranks above peers (12/15)

Risks

!Mixed Growth (revenue 5y +6.1 %/yr)

!Moderate moat 64/100

!Weak on future: 11 out of 100

For context

·7.16% dividend yield

Evidence: High Range HK$45.23 – HK$85.34

Fair value as of: Aug 27, 2026

From 26 valuation models · updated 9 days ago

Fair value updated Aug 27, 2026, revised from HK$68.24 to HK$68.35 (+0.2%) since Aug 13, 2026. Share price −13.5% over the past month.

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 →

What matters now

The price is below even our cautious bear case (HK$45.23). The market is more pessimistic than our downside scenario.
Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality.
A fairly wide model range (HK$45.23 to HK$85.34) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.

How to read this chart

60‑month range HK$35.10 – HK$176.44 · fair‑value band HK$45.23 – HK$85.34 · the HK$37.16 price screens below the HK$68.35 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 27, 2026.

Full chart & analysis →

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Analysis

Shenzhou International Group Holdings Ltd (2313) currently trades at HK$37.16, while our model-based Fair Value estimate is HK$68.35, implying the stock looks roughly 45.6% undervalued today. The Quality Score stands at 62/100 (solid quality), in the Consumer Cyclical sector. Bull case: the Growth Earnings group reads highest at a median of HK$73.43 per share, and 22 of the 26 models we run sit above the HK$37.16 price. Bear case: the Asset-Based group reads lowest at HK$16.72, and 4 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Shenzhou International Group Holdings Ltd generated revenue of HK$31.0B at a net margin of 18.8%. Revenue grew 2.2% year over year. It earns a return on equity of 15.9%. The balance sheet holds a net cash position of HK$542M. Fundamentals as of Aug 27, 2026

Our scenario range runs from HK$45.23 (bear case) to HK$85.34 (bull case); at HK$37.16, 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 last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 48% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −36% fair-value upside, at 84%, 2313 screens cheaper than that median.

Fair Value models

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

FCF DCF best evidence HK$33.92 HK$52.52 HK$84.45 79

Growth DCF HK$33.81 HK$51.05 HK$79.98 77

Owner Earnings HK$48.86 HK$79.15 HK$131.13 75

All 26 models by family

DCF Models

FCF DCF best evidence HK$33.92 HK$52.52 HK$84.45 79

Owner Earnings HK$48.86 HK$79.15 HK$131.13 75

5Y Revenue Exit HK$29.36 HK$42.75 HK$60.69 73

5Y EBITDA Exit HK$45.03 HK$74.74 HK$112.04 74

5Y P/E Exit HK$57.58 HK$100.35 HK$149.35 70

10Y Revenue Exit HK$30.12 HK$43.31 HK$63.01 67

10Y EBITDA Exit HK$41.05 HK$66.62 HK$105.59 67

10Y P/E Exit HK$49.34 HK$85.27 HK$136.52 62

Earnings-Based

Graham-Dodd HK$26.36 HK$118.02 HK$161.73 64

Lynch FV HK$30.71 HK$43.88 HK$57.04 61

PEG = 1.0 HK$30.71 HK$43.88 HK$57.04 57

EPV HK$41.68 HK$46.94 HK$51.54 74

Dividend Discount

Gordon GGM HK$22.44 HK$46.67 HK$74.03 66

DDM Multi-Stage HK$22.44 HK$39.35 HK$48.98 66

Multiples

P/E Multiple HK$63.96 HK$85.28 HK$106.59 63

P/S Multiple HK$18.56 HK$24.75 HK$30.94 58

P/B Multiple HK$49.42 HK$65.90 HK$82.37 55

EV/EBIT HK$62.41 HK$79.83 HK$97.26 66

EV/EBITDA HK$53.90 HK$68.49 HK$83.08 67

EV/Revenue HK$27.45 HK$34.88 HK$42.30 54

Asset-Based

NCAV (Graham) HK$12.48 HK$16.72 HK$24.96 54

Growth DCF

Growth DCF HK$33.81 HK$51.05 HK$79.98 77

Rev-Margin DCF HK$29.36 HK$42.53 HK$59.38 73

Economic Profit

Residual Income HK$25.64 HK$32.16 HK$71.23 70

ROIC Compounder HK$45.83 HK$57.80 HK$73.10 72

Growth Earnings

Growth-Adj P/E HK$51.40 HK$73.43 HK$95.45 67

Widest divergence: Growth Earnings (HK$73.43) versus Asset-Based (HK$16.72). Highest evidence: FCF DCF (79).

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Key figures & financial health

P/E ratio 9.9 as of Jul 18, 2026

P/S ratio 1.86 P/E × margin

EPS (TTM) HK$2.11 price ÷ EPS = P/E 9.9

Dividend yield 7.2% payout 126%

Net margin 18.8% FY2025

Return on equity 15.9% TTM

More key figures

Profitability

Return on assets (EBIT) 9.5% avg 5y

Operating margin 18.4% TTM

Growth

Revenue (TTM) HK$31.0B TTM

Revenue growth (YoY) +2.2% 3y avg +3.7%

EPS growth (YoY) −20.0%

Balance sheet & cash flow

Free cash flow HK$2.8B FY2025

Net cash HK$542M FY2025

Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 61 · Market factors (momentum, volatility) 22

Profitability 53

Margins and returns on capital today

Quality Growth 33

Are margins and returns improving?

Cashflow 42

Earnings quality: real cash, not paper profit

Fin. Strength 94

Balance sheet, leverage, solvency risk

Investment 60

Disciplined investing over empire-building

Low Volatility 56

Calm price path (market factor)

Momentum 13

Price trend over the last 3–12 months (market factor)

52W Momentum 0

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

Shenzhou International Group Holdings Limited, an investment holding company, manufactures and sells knitwear products in Mainland China, the European Union, the United States, Japan, and internationally. The company offers knitted sportswear, casual wear, and lingerie wear. The company is engaged in trading activities, and property leasing services.

Full company description

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shenzhou International Group Holdings Ltd reported revenue of 31.0B CNY in FY2025 versus 23.8B CNY in FY2021, a compound +6.8%/yr. Reported net income was 5.8B CNY in FY2025, compounding +14.6%/yr from FY2021.

Growth Quality 72/100

Revenue is growing, but margins or cash flow do not fully confirm the trend.

Latest Revenue (FY 2025)

HK$31.0B

Latest YoY

+8.1%

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.

+3.7%

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.

+6.1%

Avg. revenue growth/yr (21Y) ⓘ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.

+13.6%

Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.

+9.9% (2.7 + 7.2)

Revenue +6.8%/yr

FY21 23.8B CNY

FY22 27.8B CNY

FY23 25.0B CNY

FY24 28.7B CNY

FY25 31.0B CNY

Net income +14.6%/yr

FY21 3.4B CNY

FY22 4.6B CNY

FY23 4.6B CNY

FY24 6.2B CNY

FY25 5.8B CNY

Character of growth · EPS growth decomposed (2014-2025) +9.3 % p.a.

Revenue per share +8.9 %

of which total revenue +9.0 % · buybacks/dilution −0.1 %

EBIT margin −1.4 %

Tax rate +0.9 %

Residual (interest, one-offs) +0.8 %

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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Shenzhou International Group Holdings Ltd · Fair Value
HK$68.35 +46%Fair Value
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<a href="https://www.fairvalue-calculator.com/stock/2313" target="_blank" rel="nofollow noopener" style="display:inline-flex;align-items:center;gap:12px;box-sizing:border-box;font-family:system-ui,-apple-system,Segoe UI,Roboto,sans-serif;text-decoration:none;background:#0f1814;color:#eaf2ed;border:1px solid #2a3a30;border-radius:12px;padding:12px 16px;max-width:360px"><span style="line-height:1.35"><span style="font-size:12px;color:#9fb0a8">Shenzhou International Group Holdings Ltd · Fair Value</span><br><b style="font-size:20px">HK$68.35</b> <span style="color:#7BB290;font-weight:700;font-size:14px">+46%</span></span><span style="font-size:11px;color:#7BB290;font-weight:700;margin-left:auto;text-align:right;line-height:1.3">Fair&nbsp;Value<br>Calculator&nbsp;→</span></a>

Cite: Fair Value Calculator (2026). "Shenzhou International Group Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2313

Peer Group

Textile Manufacturing · 332 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 +84% · Top 25%

Return on equity (TTM) 16% · Top 25%

Return on assets 7% · Top 25%

Net margin (TTM) 19% · Top 25%

Operating margin (TTM) 18% · Top 25%

Revenue growth 2% · Above median

Dividend yield (TTM) 7.2% · Top 25%

Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Textile Manufacturing median · lower = cheaper

P/E (TTM) 9.9× · Cheaper than 75% of peers

P/B 1.78× · Pricier than median

P/S (TTM) 2.15× · Pricier than 75% of peers

P/FCF 3.0× · Pricier than 75% of peers

EV/EBITDA 7.2× · Cheaper than median

PEG 0.88× · Cheaper than median

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.

This stock

Sector peers

VALUE100 · sector 4

FUTURE11 · sector 0

PAST64 · sector 15

HEALTH100 · sector 95

DIVIDEND100 · sector 33

Insider activity: 45/100

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

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10 more Textile Manufacturing stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).

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Vardhman Textiles Limited VTL	₹592.75	₹437.53	−26%
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Frequently asked questions

Is Shenzhou International Group Holdings Ltd (2313) overvalued or undervalued?

As of Aug 27, 2026, our model estimates a fair value of HK$68.35 versus a price of HK$37.16, about +84% upside (undervalued).

What is the fair value of 2313?

Our model-based fair value for Shenzhou International Group Holdings Ltd is HK$68.35 (as of Aug 27, 2026), built from audited fundamentals. The current price: HK$37.16.

What is the quality score of 2313?

Shenzhou International Group Holdings Ltd has a Quality Score of 62/100. 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 Shenzhou International Group Holdings Ltd (2313)?

Shenzhou International Group Holdings Ltd reported trailing-twelve-month revenue of about HK$31.0B (latest available figure, as of Aug 27, 2026).

What is the net profit margin of 2313?

The net profit margin of Shenzhou International Group Holdings Ltd is about 18.8%, meaning it keeps roughly 18.8% of revenue as net income. Based on the latest reported figures.

Does Shenzhou International Group Holdings Ltd pay a dividend?

Shenzhou International Group Holdings Ltd currently shows a dividend yield of about 7.16% relative to its recent price (as of Aug 27, 2026).

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