Harbin Air Conditioning CoSHSE:600202 -0.44%59 Altman Z2-Score is 1.54 as of Jul. 08, 2026, which is 4% below its 10-year median of 1.60. GuruFocus rates SHSE:600202 with a GF Score™ of 59/100 and a GF Value™ of ¥6.27 (Modestly Undervalued). The stock has 6 warning signs investors should review. Among 1,764 Construction companies, Harbin Air Conditioning Co ranks worse than 73.3% on this metric.
Altman Z2-Score, also known as Z"-Score, is used to predict the likelihood that a non-manufacturing company (excluding property/financial company) will face bankruptcy within a two-year period.
Harbin Air Conditioning Co has a Altman Z2-Score of 1.54, indicating it is in Grey Zones. This implies that Harbin Air Conditioning Co is in some kind of financial stress. If it is below 1.1, the company may face bankrupcy risk.
The zones of discrimination were as such:
When Altman Z2-Score <= 1.1, it is in Distress Zones.
When Altman Z2-Score >= 2.6, it is in Safe Zones.
When Altman Z2-Score is between 1.1 and 2.6, it is in Grey Zones.
The historical rank and industry rank for Harbin Air Conditioning Co's Altman Z2-Score or its related term are showing as below:
SHSE:600202'
s Altman Z2-Score Range Over the Past 10 Years
Min: -0.02 Med: 1.6 Max: 2.79
Current: 1.54
During the past 13 years, Harbin Air Conditioning Co's highest Altman Z2-Score was 2.79. The lowest was -0.02. And the median was 1.60.
Harbin Air Conditioning Co (SHSE:600202) Altman Z2-Score Explanation
The original Z-Score model was based on publicly traded manufacturing companies while the Z2-Score, also known as Z"-score can be used for any type of company excluding property/financial companies. Both Z-Score and Z2-Score describes the financial health of a company, and its likelihood of financial distress.
X1: The Working Capital/Total Assets (WC/TA) ratio is a measure of the net liquid assets of the firm relative to the total capitalization. Working capital is defined as the difference between current assets and current liabilities. Ordinarily, a firm experiencing consistent operating losses will have shrinking current assets in relation to total assets. Altman found this one proved to be the most valuable liquidity ratio comparing with the current ratio and the quick ratio. This is however the least significant of the five factors.
X2: Retained Earnings/Total Assets: the RE/TA ratio measures the leverage of a firm. Retained earnings is the account which reports the total amount of reinvested earnings and/or losses of a firm over its entire life. Those firms with high RE, relative to TA, have financed their assets through retention of profits and have not utilized as much debt.
X3, Earnings Before Interest and Taxes/Total Assets (EBIT/TA): This ratio is a measure of the true productivity of the firm's assets, independent of any tax or leverage factors. Since a firm's ultimate existence is based on the earning power of its assets, this ratio appears to be particularly appropriate for studies dealing with corporate failure. This ratio continually outperforms other profitability measures, including cash flow.
* 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.
SHSE:600202 vs TT, JCI, CARR: Altman Z2-Score Comparison
For the Building Products & Equipment subindustry, Harbin Air Conditioning Co's Altman Z2-Score, along with its competitors' market caps and Altman Z2-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.
Harbin Air Conditioning Co Altman Z2-Score vs Construction Industry
For the Construction industry and Industrials sector, Harbin Air Conditioning Co's Altman Z2-Score distribution charts can be found below:
* The bar in red indicates where Harbin Air Conditioning Co's Altman Z2-Score falls into.
Harbin Air Conditioning Co Altman Z2-Score Calculation
Altman Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
Z2-Score, also known as Z"-Score is the Z-Score for non-manufacturing companies excluding property/financial companies.
* 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. GuruFocus does not calculate Altman Z2-Score when X4_2 value is 0.
Harbin Air Conditioning Co (SHSE:600202) has a Altman Z2-Score of 1.54 as of Jul. 08, 2026. Z2-Score is the Z-Score for non-manufacturing companies excluding property/financial companies, which measures a company's bankruptcy risk. View historical data on Harbin Air Conditioning Co and its competitors. This is near median its historical median of 1.60. According to the industry distribution chart, Harbin Air Conditioning Co ranks #1293 out of 1764 companies in the Construction industry, placing it in the top 73.3%.
Is Harbin Air Conditioning Co's Altman Z2-Score too high?
Harbin Air Conditioning Co's current Altman Z2-Score of 1.54 is near median its 10-year median of 1.60. The Construction industry median Altman Z2-Score is 3.21. Harbin Air Conditioning Co's value of 1.54 is 52% below this industry median. Based on the distribution chart, Harbin Air Conditioning Co ranks #1293 out of 1764 companies in the Construction industry, which is below the industry midpoint. Overall, Harbin Air Conditioning Co has a GF Score™ of 59/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Harbin Air Conditioning Co's Altman Z2-Score compare to TT and JCI?
According to the Construction industry distribution chart, Harbin Air Conditioning Co ranks #1293 out of 1764 companies for Altman Z2-Score. This places Harbin Air Conditioning Co in the lower half of its industry. The industry median Altman Z2-Score is 3.21. Harbin Air Conditioning Co's value of 1.54 is 52% below this benchmark. While the company's 10-year median is 1.60 vs. the industry median of 3.21, Harbin Air Conditioning Co has consistently been below 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 Altman Z2-Score for a Construction company?
The median Altman Z2-Score among Construction companies is 3.21, based on 1,764 companies in the industry. Companies in the top quartile (top 25%) have a Altman Z2-Score significantly above this median, while those in the bottom quartile fall well below. However, Altman Z2-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Harbin Air Conditioning Co's current Altman Z2-Score of 1.54 is 52% below 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 Altman Z2-Score mean?
A high Altman Z2-Score can signal that a stock is expensive relative to its fundamentals. Z2-Score is the Z-Score for non-manufacturing companies excluding property/financial companies, which measures a company's bankruptcy risk. View historical data on Harbin Air Conditioning Co and its competitors. For the Construction industry, the median Altman Z2-Score is 3.21 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Harbin Air Conditioning Co's current Altman Z2-Score is 1.54, which is near median its own 10-year median of 1.60. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Harbin Air Conditioning Co stock overvalued right now?
Based on GuruFocus' analysis, Harbin Air Conditioning Co (SHSE:600202) is currently considered Modestly Undervalued. The stock's GF Value™ is ¥6.27, compared to a current price of ¥4.49 — trading 28.4% below its estimated fair value. The current Altman Z2-Score is 1.54, which is near median its 10-year median of 1.60 and 52% below the Construction industry median of 3.21. Harbin Air Conditioning Co's overall GF Score™ is 59/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Altman Z2-Score calculated?
Altman Z2-Score is calculated from a company's financial statements. For Harbin Air Conditioning Co (SHSE:600202), the current Altman Z2-Score is 1.54 as of Jul. 08, 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 Harbin Air Conditioning Co (SHSE:600202) Overvalued in 2026?
Based on GuruFocus' analysis, Harbin Air Conditioning Co stock appears to be undervalued.
The current stock price of ¥4.49 is trading 28.4% below its estimated GF Value™ of ¥6.27.
GuruFocus considers Harbin Air Conditioning Co to be Modestly Undervalued.
Key valuation signals for SHSE:600202:
Altman Z2-Score: 1.54 (near median its 10-year median of 1.60)
GF Value™: ¥6.27 vs. price of ¥4.49 (28.4% below fair value)
Industry Position: 52% below the Construction median (#1293 of 1764)
No single metric tells the full story. See the SHSE:600202 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Harbin Air Conditioning Co Ltd in China is engaged in the designing and manufacturing of energy saving and environmentally-friendly products such as petrochemical air cooling condensers, power plant air coolers, and air conditioning HVAC equipment. Its products are widely used in petrochemical, power energy, steel and metallurgical industries.
59GF Score
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