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TongKun Group Co Ltd (601233) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 56.0B CNY (≈ $8.4B) · ISIN CNE1000012X7

What is TongKun Group Co Ltd really worth?

TG TongKun Group Co Ltd 601233 · SHG
Price¥26.00
Fair Value¥14.53
Upside−44.1%
Quality41/100

Below-average quality, and trading another 79% above our fair value of ¥14.53.

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Risks

!Expensive Growth (revenue 5y +15.4 %/yr)
!Thin margins · 3.4% net margin
!Low debt · negative free cash flow
!Mixed vs. peers (7/13)
!Narrow moat 28/100
!Weak on dividend: 9 out of 100

For context

·0.46% dividend yield
Evidence: High Range ¥10.89 – ¥18.16

Fair value as of: Aug 13, 2026

From 14 valuation models · updated 22 days ago

Share price +13.1% 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 (¥18.16). The favourable scenario is already priced in.
  • Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts.

Price vs Fair Value (5 years)

¥27.91 ¥10.00 Fair Value ¥14.53 Mar 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 ¥10.00 – ¥27.91 · fair‑value band ¥10.89 – ¥18.16 · the ¥26.00 price screens above the ¥14.53 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

TongKun Group Co Ltd (601233) currently trades at ¥26.00, while our model-based Fair Value estimate is ¥14.53, implying the stock looks roughly 79.0% overvalued today. The Quality Score stands at 41/100 (below-average quality), in the Consumer Cyclical sector. Bull case: the Growth Earnings group reads highest at a median of ¥18.80 per share, and 2 of the 14 models we run sit above the ¥26.00 price. Bear case: the Economic Profit group reads lowest at ¥6.70, and 12 of the 14 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, TongKun Group Co Ltd generated revenue of 97.8B CNY at a net margin of 3.4%. Revenue grew 20.3% year over year. It earns a return on equity of 8.5%. Net debt stands at 35.1B CNY. Fundamentals as of Aug 13, 2026

Our scenario range runs from ¥10.89 (bear case) to ¥18.16 (bull case); at ¥26.00, 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 near its 52-week high and 151% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −26% fair-value upside, at −44%, 601233 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 ¥0.8662 per share, which is 6.0 % 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 ¥12.46 ¥12.67 ¥12.35 76
EPV ¥5.62 ¥6.70 ¥7.65 74
ROIC Compounder ¥5.62 ¥6.70 ¥7.65 72
All 14 models by family
Earnings-Based
Graham-Dodd ¥5.81 ¥34.82 ¥48.53 63
Lynch FV ¥9.92 ¥14.18 ¥18.43 61
PEG = 1.0 ¥9.92 ¥14.18 ¥18.43 57
EPV ¥5.62 ¥6.70 ¥7.65 74
Multiples
P/E Multiple ¥10.89 ¥14.53 ¥18.16 63
P/S Multiple ¥10.89 ¥14.53 ¥18.16 58
P/B Multiple ¥10.89 ¥14.53 ¥18.16 55
EV/EBIT ¥7.08 ¥9.72 ¥12.36 66
EV/EBITDA ¥21.38 ¥28.78 ¥36.19 67
EV/Revenue ¥6.02 ¥8.97 ¥11.91 53
Asset-Based
NCAV (Graham) ¥8.05 ¥10.79 ¥16.11 54
Economic Profit
Residual Income best evidence ¥12.46 ¥12.67 ¥12.35 76
ROIC Compounder ¥5.62 ¥6.70 ¥7.65 72
Growth Earnings
Growth-Adj P/E ¥13.16 ¥18.80 ¥24.43 67

Widest divergence: Growth Earnings (¥18.80) versus Economic Profit (¥6.70). Highest evidence: Residual Income (76).

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Key figures & financial health

P/E ratio 18.6
P/S ratio 0.40 P/E × margin
EPS (TTM) ¥1.40 price ÷ EPS = P/E 18.6
Dividend yield 0.5% payout 8.6%
Net margin 2.2% FY2025
Return on equity 8.5% TTM
More key figures
Profitability
Return on assets (EBIT) 2.9% avg 5y
Operating margin 5.8% TTM
Growth
Revenue (TTM) 97.8B CNY TTM
Revenue growth (YoY) +20.3% 3y avg +14.8%
EPS growth (YoY) +208%
Balance sheet & cash flow
Free cash flow −4.4B CNY FY2025
Net debt 35.1B CNY FY2025

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

Quality Score breakdown

Overall quality 41/100

Of which business quality 40 · Market factors (momentum, volatility) 72

Profitability 29
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 34
Earnings quality: real cash, not paper profit
Fin. Strength 29
Balance sheet, leverage, solvency risk
Investment 63
Disciplined investing over empire-building
Low Volatility 32
Calm price path (market factor)
Momentum 82
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 69
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

Tongkun Group Co., Ltd. manufactures and sells civilian polyester filament yarns in China and internationally. It offers civilian polyester filaments, including polyester pre-oriented yarn (POY), polyester fully drawn yarn, polyester series of polyester POY, polyester stretch textured yarn, polyester composite yarn, ITY, and medium-strength yarn.

Full company description

Tongkun Group Co., Ltd. manufactures and sells civilian polyester filament yarns in China and internationally. It offers civilian polyester filaments, including polyester pre-oriented yarn (POY), polyester fully drawn yarn, polyester series of polyester POY, polyester stretch textured yarn, polyester composite yarn, ITY, and medium-strength yarn. It also provides terephthalic acid, ethylene glycol, and other products. The company's products are used in the manufacture of clothing fabrics and home textile products, as well as industrial use. It sells its products under the GOLDENCOCK and Tongkun brands. The company was founded in 1982 and is headquartered in Tongxiang, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

TongKun Group Co Ltd reported revenue of 93.9B CNY in FY2025 versus 59.2B CNY in FY2021, a compound +12.2%/yr. Reported net income was 2.0B CNY in FY2025, compounding −27.8%/yr from FY2021.

Growth Quality 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
93.9B CNY
Latest YoY
−7.3%
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.
+14.8%
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.
+15.4%
Avg. revenue growth/yr (17Y) 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.
+14.7%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
−9.6% (−10.1 + 0.5)
Revenue +12.2%/yr
FY21 59.2B CNY
FY22 62.0B CNY
FY23 82.6B CNY
FY24 101B CNY
FY25 93.9B CNY
Net income −27.8%/yr
FY21 7.5B CNY
FY22 125M CNY
FY23 797M CNY
FY24 1.2B CNY
FY25 2.0B CNY

601233 screens 79% overvalued. Compare with Shenzhou International Group →

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Cite: Fair Value Calculator (2026). "TongKun Group Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/601233

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 41 · Bottom 25%
Fair Value upside −44% · Below median
Return on equity (TTM) 9% · Above median
Return on assets 1% · Below median
Net margin (TTM) 3% · Above median
Operating margin (TTM) 6% · Above median
Revenue growth 20% · Top 25%
Dividend yield (TTM) 0.5% · Below median
Debt / equity 0.45× · Higher than 75% of peers

Valuation Multiples vs Textile Manufacturing median · lower = cheaper

P/E (TTM) 18.6× · Cheaper than median
P/B 1.46× · Pricier than median
P/S (TTM) 0.57× · Cheaper than median
EV/EBITDA 7.5× · 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 4
FUTURE100 · sector 0
PAST34 · sector 15
HEALTH78 · sector 95
DIVIDEND9 · sector 33

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.

None of the checked exposures detected

Similar stocks

10 more Textile Manufacturing stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Shenzhou International Group 2313 HK$37.94 HK$68.35 +80%
Inner Mongolia ERDOS Resources Co 600295 ¥12.95 ¥14.35 +11%
K.P.R. Mill Limited KPRMILL ₹1,124 ₹467.49 −58%
HMT (Xiamen) New Technical Materials Co 603306 ¥71.55 ¥11.85 −83%
Zhejiang Orient Holdings 600120 ¥4.89 ¥2.21 −55%
Vardhman Textiles Limited VTL ₹592.75 ₹437.53 −26%
Albany International Corp AIN $59.92 $18.40 −69%
Isiklar Enerji ve Yapi Holding IEYHO 174.20 TRY 324.31 TRY +86%
Welspun Living Limited WELSPUNLIV ₹190.40 ₹47.44 −75%
Bros Eastern.,Ltd 601339 ¥7.88 ¥7.87 +0%

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Frequently asked questions

Is TongKun Group Co Ltd (601233) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ¥14.53 versus a price of ¥26.00, about −44% upside (overvalued).
What is the fair value of 601233?
Our model-based fair value for TongKun Group Co Ltd is ¥14.53 (as of Aug 13, 2026), built from audited fundamentals. The current price: ¥26.00.
What is the quality score of 601233?
TongKun Group Co Ltd has a Quality Score of 41/100. 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 TongKun Group Co Ltd (601233)?
TongKun Group Co Ltd reported trailing-twelve-month revenue of about 97.8B CNY (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 601233?
The net profit margin of TongKun Group Co Ltd is about 3.4%, meaning it keeps roughly 3.4% of revenue as net income. Based on the latest reported figures.
Does TongKun Group Co Ltd pay a dividend?
TongKun Group Co Ltd currently shows a dividend yield of about 0.46% relative to its recent price (as of Aug 13, 2026).
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