Hangzhou Haoyue Personal Care Co (SHSE:605009) Piotroski F-Score: 8 (As of Aug. 13, 2026) — 33% Above Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

SHSE:605009 Hangzhou Haoyue Personal Care Co Ltd SHSE:605009
79 GF Score
Price ¥23.88
GF Value ¥40.53
Valuation Significantly Undervalued
! 4 Warning Signs
View Full Analysis

What is Hangzhou Haoyue Personal Care Co Piotroski F-Score?

Hangzhou Haoyue Personal Care Co SHSE:605009 -0.75% 79 Piotroski F-Score is 8 as of Aug. 13, 2026, which is 33% above its 10-year median of 6.00. GuruFocus rates SHSE:605009 with a GF Score™ of 79/100 and a GF Value™ of ¥40.53 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 1,908 Consumer Packaged Goods companies, Hangzhou Haoyue Personal Care Co ranks better than 97.59% on this metric.

Good Sign:

Piotroski F-Score is 8, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Hangzhou Haoyue Personal Care Co has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Hangzhou Haoyue Personal Care Co's Piotroski F-Score or its related term are showing as below:

SHSE:605009' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 8
Current: 8

During the past 10 years, the highest Piotroski F-Score of Hangzhou Haoyue Personal Care Co was 8. The lowest was 4. And the median was 6.

Hangzhou Haoyue Personal Care Co  (SHSE:605009) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Hangzhou Haoyue Personal Care Co Piotroski F-Score Related Terms


Hangzhou Haoyue Personal Care Co Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Hangzhou Haoyue Personal Care Co's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Hangzhou Haoyue Personal Care Co Piotroski F-Score Chart

Hangzhou Haoyue Personal Care Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 4.00 5.00 6.00 6.00

Hangzhou Haoyue Personal Care Co Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 6.00 6.00 6.00 8.00

SHSE:605009 vs PG, CL, KVUE: Piotroski F-Score Comparison

For the Household & Personal Products subindustry, Hangzhou Haoyue Personal Care Co's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Hangzhou Haoyue Personal Care Co Piotroski F-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Hangzhou Haoyue Personal Care Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Hangzhou Haoyue Personal Care Co's Piotroski F-Score falls into.


SHSE:605009
79GF Score
Hangzhou Haoyue Personal Care Co Ltd SHSE:605009
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Net Income was 57.873 + 54.877 + 28.617 + 83.511 = ¥225 Mil.
Cash Flow from Operations was -79.023 + 104.309 + 171.873 + 202.612 = ¥400 Mil.
Revenue was 848.892 + 958.486 + 1037.472 + 974.684 = ¥3,820 Mil.
Gross Profit was 266.178 + 279.869 + 321.445 + 324.033 = ¥1,192 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(5173.4 + 5320.103 + 5224.819 + 5107.878 + 5109.872) / 5 = ¥5187.2144 Mil.
Total Assets at the begining of this year (Mar25) was ¥5,173 Mil.
Long-Term Debt & Capital Lease Obligation was ¥179 Mil.
Total Current Assets was ¥2,210 Mil.
Total Current Liabilities was ¥1,317 Mil.
Net Income was 108.274 + 100.428 + 93.062 + 90.611 = ¥392 Mil.

Revenue was 673.369 + 728.061 + 888.146 + 911.071 = ¥3,201 Mil.
Gross Profit was 204.061 + 196.664 + 239.488 + 315.826 = ¥956 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(4488.469 + 4503.507 + 4625.74 + 4851.759 + 5173.4) / 5 = ¥4728.575 Mil.
Total Assets at the begining of last year (Mar24) was ¥4,488 Mil.
Long-Term Debt & Capital Lease Obligation was ¥201 Mil.
Total Current Assets was ¥2,192 Mil.
Total Current Liabilities was ¥1,435 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Hangzhou Haoyue Personal Care Co's current Net Income (TTM) was 225. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Hangzhou Haoyue Personal Care Co's current Cash Flow from Operations (TTM) was 400. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar25)
=224.878/5173.4
=0.04346813

ROA (Last Year)=Net Income/Total Assets (Mar24)
=392.375/4488.469
=0.08741845

Hangzhou Haoyue Personal Care Co's return on assets of this year was 0.04346813. Hangzhou Haoyue Personal Care Co's return on assets of last year was 0.08741845. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Hangzhou Haoyue Personal Care Co's current Net Income (TTM) was 225. Hangzhou Haoyue Personal Care Co's current Cash Flow from Operations (TTM) was 400. ==> 400 > 225 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar26)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar25 to Mar26
=178.928/5187.2144
=0.03449404

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=201.179/4728.575
=0.04254538

Hangzhou Haoyue Personal Care Co's gearing of this year was 0.03449404. Hangzhou Haoyue Personal Care Co's gearing of last year was 0.04254538. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Mar26)=Total Current Assets/Total Current Liabilities
=2209.752/1317.26
=1.6775367

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=2192.06/1435.119
=1.52744128

Hangzhou Haoyue Personal Care Co's current ratio of this year was 1.6775367. Hangzhou Haoyue Personal Care Co's current ratio of last year was 1.52744128. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Hangzhou Haoyue Personal Care Co's number of shares in issue this year was 214.13. Hangzhou Haoyue Personal Care Co's number of shares in issue last year was 215.741. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=1191.525/3819.534
=0.31195559

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=956.039/3200.647
=0.29870179

Hangzhou Haoyue Personal Care Co's gross margin of this year was 0.31195559. Hangzhou Haoyue Personal Care Co's gross margin of last year was 0.29870179. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar25)
=3819.534/5173.4
=0.73830247

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=3200.647/4488.469
=0.71308212

Hangzhou Haoyue Personal Care Co's asset turnover of this year was 0.73830247. Hangzhou Haoyue Personal Care Co's asset turnover of last year was 0.71308212. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+0+1+1+1+1+1+1
=8

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Hangzhou Haoyue Personal Care Co has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 8 mean?
Hangzhou Haoyue Personal Care Co (SHSE:605009) has a Piotroski F-Score of 8 as of Aug. 13, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Hangzhou Haoyue Personal Care Co and its competitors. This is 33% above median its historical median of 6.00. Over the past decade, Hangzhou Haoyue Personal Care Co's Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, Hangzhou Haoyue Personal Care Co ranks #46 out of 1908 companies in the Consumer Packaged Goods industry, placing it in the top 2.4%.
Is Hangzhou Haoyue Personal Care Co's Piotroski F-Score too high?
Hangzhou Haoyue Personal Care Co's current Piotroski F-Score of 8 is 33% above median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 8.00. The Consumer Packaged Goods industry median Piotroski F-Score is 5.00. Hangzhou Haoyue Personal Care Co's value of 8 is 60% above this industry median. Based on the distribution chart, Hangzhou Haoyue Personal Care Co ranks #46 out of 1908 companies in the Consumer Packaged Goods industry, which is in the top quartile — a strong position relative to peers. Overall, Hangzhou Haoyue Personal Care Co has a GF Score™ of 79/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Hangzhou Haoyue Personal Care Co's Piotroski F-Score compare to PG and CL?
According to the Consumer Packaged Goods industry distribution chart, Hangzhou Haoyue Personal Care Co ranks #46 out of 1908 companies for Piotroski F-Score. This places Hangzhou Haoyue Personal Care Co in the top 2% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Hangzhou Haoyue Personal Care Co's value of 8 is 60% above this benchmark. Historically, Hangzhou Haoyue Personal Care Co's own Piotroski F-Score has ranged from 4.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Hangzhou Haoyue Personal Care Co has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Consumer Packaged Goods company?
The median Piotroski F-Score among Consumer Packaged Goods companies is 5.00, based on 1,908 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Hangzhou Haoyue Personal Care Co's current Piotroski F-Score of 8 is 60% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Hangzhou Haoyue Personal Care Co and its competitors. For the Consumer Packaged Goods industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hangzhou Haoyue Personal Care Co's current Piotroski F-Score is 8, which is 33% above median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hangzhou Haoyue Personal Care Co stock overvalued right now?
Based on GuruFocus' analysis, Hangzhou Haoyue Personal Care Co (SHSE:605009) is currently considered Significantly Undervalued. The stock's GF Value™ is ¥40.53, compared to a current price of ¥23.88 — trading 41.1% below its estimated fair value. The current Piotroski F-Score is 8, which is 33% above median its 10-year median of 6.00 and 60% above the Consumer Packaged Goods industry median of 5.00. Hangzhou Haoyue Personal Care Co's overall GF Score™ is 79/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Hangzhou Haoyue Personal Care Co (SHSE:605009), the current Piotroski F-Score is 8 as of Aug. 13, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Hangzhou Haoyue Personal Care Co (SHSE:605009) Overvalued in 2026?

Based on GuruFocus' analysis, Hangzhou Haoyue Personal Care Co stock appears to be undervalued. The current stock price of ¥23.88 is trading 41.1% below its estimated GF Value™ of ¥40.53. GuruFocus considers Hangzhou Haoyue Personal Care Co to be Significantly Undervalued.

Key valuation signals for SHSE:605009:

  • Piotroski F-Score: 8 (33% above median its 10-year median of 6.00)
  • GF Value™: ¥40.53 vs. price of ¥23.88 (41.1% below fair value)
  • GF Score™: 79/100 with 4 warning signs
  • Industry Position: 60% above the Consumer Packaged Goods median (#46 of 1908)

No single metric tells the full story. See the SHSE:605009 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Hangzhou Haoyue Personal Care Co Business Description

Address No. 3, Fengdu Road, Pingyao, Yuhang District, Zhejiang Province, Hangzhou, CHN, 310026
Hangzhou Haoyue Personal Care Co Ltd is engaged in manufacturing and sales as a whole and focuses on women, young and adult health care products. The products produced and operated under the banner of haoyue are baby step pants, paper diapers, paper diapers, wet towels, adult Lala pants, diapers, paper diapers, nursing mats, wet towels, female sanitary napkins, menstrual care pants, maternity and baby dual-use napkins, parturient towel, among others.
79GF Score

Get the complete analysis for SHSE:605009

Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

¥23.88
Price
¥40.53
GF Value