Hainan HNA Infrastructure Investment Group Co Ltd (600515) Fair Value & Analysis
Real Estate · CN · Market cap 33.0B CNY (≈ $4.9B) · ISIN CNE000001C32
What is Hainan HNA Infrastructure Investment Group Co Ltd really worth?
Below-average quality, and trading another 752% above our fair value of ¥0.3300.
Risks
For context
Fair value as of: Aug 26, 2026
From 7 valuation models · updated 10 days ago
Share price −4.7% 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 sits above even our optimistic bull case (¥0.4100). The favourable scenario is already priced in.
- Weak quality (36/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 26, 2026.
How to read this chart
60‑month range ¥2.69 – ¥12.91 · fair‑value band ¥0.2400 – ¥0.4100 · the ¥2.81 price screens above the ¥0.3300 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 26, 2026.
Analysis
Hainan HNA Infrastructure Investment Group Co Ltd (600515) currently trades at ¥2.81, while our model-based Fair Value estimate is ¥0.3300, implying the stock looks roughly 751.8% overvalued today. The Quality Score stands at 36/100 (below-average quality), in the Real Estate sector. Bull case: the Asset-Based group reads highest at a median of ¥1.38 per share, and 0 of the 7 models we run sit above the ¥2.81 price. Bear case: the Multiples group reads lowest at ¥0.3300, and 7 of the 7 models stay below the price. Evidence for this calculation is low.
Over the trailing twelve months, Hainan HNA Infrastructure Investment Group Co Ltd generated revenue of 5.1B CNY at a net margin of 4.6%. Revenue grew 59.9% year over year. It earns a return on equity of 0.9%. Net debt stands at 15.5B CNY. Fundamentals as of Aug 26, 2026
Our scenario range runs from ¥0.2400 (bear case) to ¥0.4100 (bull case); at ¥2.81, the current price sits above 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 52% below its 52-week high, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −33% fair-value upside, at −88%, 600515 screens richer 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 ¥0.0102 per share, which is 3.1 % 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.
All 7 models by family
Widest divergence: Asset-Based (¥1.38) versus Multiples (¥0.3300). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 26, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 34 · Market factors (momentum, volatility) 31
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
Hainan Airport Infrastructure Co., Ltd engages in the airport management business in China. The company is involved in aeronautical airport management, including take-off and landing, parking, passenger bridge, and passenger and security checks, as well as non-aeronautical airport management comprising ground services, duty-free commerce, taxable commerce, …
Full company description
Hainan Airport Infrastructure Co., Ltd engages in the airport management business in China. The company is involved in aeronautical airport management, including take-off and landing, parking, passenger bridge, and passenger and security checks, as well as non-aeronautical airport management comprising ground services, duty-free commerce, taxable commerce, advertising, cargo, office leasing, and check-in counter rentals. It also engages in the management and operation of commercial real estate properties; ownership and management of hotels; catering services; asset management; and property management. The company was formerly known as HNA Infrastructure Investment Group Co., LTD and changed its name to Hainan Airport Infrastructure Co., Ltd in January 2022. Hainan Airport Infrastructure Co., Ltd was founded in 1993 and is headquartered in Haikou, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Hainan HNA Infrastructure Investment Group Co Ltd reported revenue of 4.4B CNY in FY2025 versus 4.5B CNY in FY2021, a compound −0.6%/yr. Reported net income was 219M CNY in FY2025, compounding −17.1%/yr from FY2021.
of which total revenue +4.6 % · buybacks/dilution −29.3 %
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).
600515 screens 752% overvalued. Compare with Corem Property Group →
Peer Group
Real Estate - Diversified · 131 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.
Valuation Multiples vs Real Estate - Diversified median · lower = cheaper
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.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Real Estate - Diversified stocks, each showing price versus our Fair Value estimate (as of Aug 26, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Corem Property Group CORED | kr 229.00 | kr 121.82 | −47% |
| Swiss Prime Site AG SPSN | CHF 124.60 | CHF 44.83 | −64% |
| Central Pattana Public Company CPN | 66.00 THB | 71.37 THB | +8% |
| Prestige Estates Projects Limited PRESTIGE | ₹1,586 | ₹645.21 | −59% |
| The Phoenix Mills Limited PHOENIXLTD | ₹1,905 | ₹701.74 | −63% |
| Umm Al Qura for Development and Construction Company 4325 | 17.19 SAR | 11.60 SAR | −33% |
| Fastighets AB BALDB | kr 54.08 | kr 70.70 | +31% |
| Parque Arauco S.A PARAUCO | 3,954 CLP | 2,740 CLP | −31% |
| Singapore Land Group U06 | 3.41 SGD | 3.23 SGD | −5% |
| The St. Joe Company JOE | $67.90 | $34.24 | −50% |
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