China Energy Engineering Corp Ltd (601868) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of China Energy Engineering Corp Ltd stock ¥2.76, price ¥2.33, upside +18.5%, quality 40 out of 100. Rating: undervalued. Calculated from audited financials with 14 of our 26 valuation models and 37 quality factors, updated daily.
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The stock costs 16% less than our calculation considers fair.
Fair value ¥2.76 · Undervalued (16%)
Upbeat coverage
Quality 40/100
Expensive Growth(revenue 5y +10.8 %/yr in CNY)
Thin margins · 1.2% net margin (TTM)
1.3% dividend yield · Watch coverage
Profit last quarter 36% below a year ago.
High debt
Negative free cash flow
Trails peers(3/12)
Narrow moat29/100 · thin data
Thin data
Risks from the AI analysis
🚩Price drop: First-half profit drop as margins narrowed and contracts slowed🚩Margins narrowed and new contracts slowed in first half🚩Dependence on state and local government contracts🚩Rivalry from PowerChina and private renewables firms🚩Policy shifts in PPP and renewables frameworks
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 1, 2026.
How to read this chart
60‑month range ¥1.97 – ¥3.80 · fair‑value band ¥2.13 – ¥3.59 · the ¥2.33 price screens below the ¥2.76 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 1, 2026.
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China Energy Engineering Corporation Limited provides solutions and services in the energy, power and infrastructure sectors in the People's Republic of China and internationally.
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It operates through five segment: Survey, Design and Consulting; Construction and contracting; Industrial manufacturing; Industrial manufacturing; and others.
The company offers planning and research, consulting, evaluation, engineering survey, design, supervision, project management, preparation, and specification services for domestic and foreign thermal power, hydropower, nuclear power, wind power, solar power generation, and power grid projects, as well as consulting services for power industry.
It is also involved in the provision of project contracting, engineering and construction, and project operation and maintenance to domestic and overseas tradition energy, new energy, smart energy, water conservancy, ecological environmental protection, transportation, municipal, buildings, and structures.
In addition, the company designs, manufactures, and sells construction materials, civil explosives, cement products, auxiliary machinery and equipment, energy-saving and environmental protection equipment, and other equipment related to the power industry, as well as provides blasting services, as well as engages in the investment and operation of traditional and new energy, smart energy, water conservancy, ecological environmental protection, and transportation projects; provision of financial services; and investment and development of real estate properties.
Further, it provides logistics and trading, leasing and commercial business, software and information, and other services, as well as involved in project investment; asset and supply chain management; and Building construction investment business.
The company was incorporated in 2014 and is headquartered in Beijing, the People's Republic of China.
Stock analysis
China Energy Engineering Corp Ltd (601868) currently trades at ¥2.33, while our model-based Fair Value estimate is ¥2.76, implying the stock looks roughly 16% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of ¥2.84 per share, and 6 of the 13 models we run sit above the ¥2.33 price.
Bear case: the Dividend Discount group reads lowest at ¥0.5200, and 7 of the 13 models stay below the price. Data coverage for this calculation is low.
Scenario range: ¥2.13 (bear) to ¥3.59 (bull), the price of ¥2.33 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 40/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
China Energy Engineering Corp Ltd reported revenue of 452B CNY in FY2025 versus 322B CNY in FY2021, a compound +8.8%/yr. Reported net income was 5.8B CNY in FY2025, compounding −2.7%/yr from FY2021.
Key figures
Market cap 97.1B CNY (≈ $14.6B) Large · P/E ratio 19.3 · P/S ratio 0.22 · EPS (TTM) ¥0.1200 · Dividend yield 1.3% · Net margin 1.2% · Return on equity 4.2% · Return on assets (EBIT) 2.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 29 out of 100 (low confidence).
What moves the price
The share trades about 39% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −27% fair-value upside, at 18%, 601868 screens cheaper than that median.
Fair Value models
Bear¥2.13Fair Value ¥2.76Bull¥3.59
Price ¥2.33 · Upside +18.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (¥0.0756 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.51/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+3.6%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+7.3%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+10.8%
Start year 2020 (pandemic). Over 10 years: +8.2% a year
Revenue growth 13 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+9.5%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−2.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−3.8%
Dividend (yield on the price)1.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−3.8% vs −0.9%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.5% → 4%
News mood ⓘNews mood, the average tone of recent news (4 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: Potential strength lies in the shift toward green ammonia and higher-value energy projects, while the main weak point remains persistent pricing pressure and margin compression in core engineering work.
Main risk: Heavy reliance on contracts with Chinese state entities and local governments could lead to delayed payments or reduced project awards if fiscal pressures persist, squeezing cash flow and margins in its core EPC business.
Bull case: By accelerating its shift into higher-margin investment and operations alongside AI-enhanced digital construction tools, the company could capture more recurring revenue from energy assets and differentiate its EPC offerings.
Bear case: If local government funding constraints and aggressive competition persist without successful diversification, project pipelines could shrink and margins in traditional contracting might remain under sustained pressure.
China Energy Engineering posted an 18.7 percent drop in first-half net profit as margins narrowed and new contracts slowed. Its core engineering and construction work faces ongoing pricing pressure, while recent milestones in green ammonia production and bunkering point to a shift toward higher-value energy projects. Will these initiatives improve returns enough to offset traditional contract challenges, or will margin pressure in the base business continue to weigh on performance?
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Peer Groupⓘ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.Engineering & Construction · 789 stocks
Beats the industry median on 3/12 measures
Overall it trails its industry peers.
Valuation
Quality Score40 · Below median
Fair Value upside+18.5% · Above median
Profitability
Return on equity (12 months)4.2% · Below median
Return on assets0.6% · Below median
Net margin (12 months)1.2% · Below median
Operating margin (12 months)4.4% · Below median
Growth and dividend
Revenue growth (quarter YoY)−4.9% · Below median
Dividend yield (12 months)1.3% · Below median
Balance sheet
Debt / equity1.86× · Highest 25%
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
P/E (12 months)19.3× · Pricier than median
P/B0.87× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "China Energy Engineering Corp Ltd Fair Value". https://www.fairvalue-calculator.com/stock/601868
Frequently asked questions
Is China Energy Engineering Corp Ltd (601868) overvalued or undervalued?
As of Nov 1, 2026, our model estimates a fair value of ¥2.76 versus a price of ¥2.33, about +18% upside (undervalued).
What is the fair value of 601868?
Our model-based fair value for China Energy Engineering Corp Ltd is ¥2.76 (as of Nov 1, 2026), built from audited fundamentals. The current price: ¥2.33.
What is the quality score of 601868?
China Energy Engineering Corp Ltd has a Quality Score of 40/100. 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 price target for China Energy Engineering Corp Ltd (601868)?
Our model-based price target is the fair value of ¥2.76 (as of Nov 1, 2026) from 14 valuation models. Cautious scenario ¥2.13, optimistic scenario ¥3.59. It is a calculation from audited fundamentals, not an analyst target.
What is the China Energy Engineering Corp Ltd stock forecast for 2026?
Our models put fair value at ¥2.76, about +18% upside versus a price of ¥2.33 (undervalued). Cautious scenario ¥2.13, optimistic scenario ¥3.59. The calculation is refreshed regularly with new filings.
What is the revenue of China Energy Engineering Corp Ltd (601868)?
China Energy Engineering Corp Ltd reported trailing-twelve-month revenue of about 449B CNY (latest available figure, as of Nov 1, 2026).
Does China Energy Engineering Corp Ltd pay a dividend?
China Energy Engineering Corp Ltd currently shows a dividend yield of 1.33% relative to its recent price (as of Nov 1, 2026).
What is the intrinsic value of China Energy Engineering Corp Ltd (601868)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For China Energy Engineering Corp Ltd it is ¥2.76 per share (as of Nov 1, 2026), against a price of ¥2.33. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is China Energy Engineering Corp Ltd stock overvalued or undervalued in 2026?
As of Nov 1, 2026, 601868 trades below its calculated fair value: price ¥2.33, fair value ¥2.76, a gap of about +18% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 601868?
No. The price is what the market pays today (¥2.33); the fair value is what the company's own numbers justify (¥2.76). For China Energy Engineering Corp Ltd the two are ¥0.4300 per share apart. That gap is exactly why we show both numbers side by side.
How much is China Energy Engineering Corp Ltd worth?
The market values China Energy Engineering Corp Ltd at about 97.1B CNY (market capitalisation, as of Nov 1, 2026). Per share that is ¥2.33; our models calculate a fair value of ¥2.76 per share.
What do the bullish and bearish scenarios say about 601868?
Our models span a range for China Energy Engineering Corp Ltd: cautious scenario ¥2.13, base ¥2.76, optimistic ¥3.59 per share (as of Nov 1, 2026, price ¥2.33). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 601868?
China Energy Engineering Corp Ltd trades at a price-to-earnings ratio of 19.3 (as of Nov 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥2.76 is built from several models across several years. Median P/E at fiscal year-end, 5 fiscal years (2021 to 2025), reported earnings: 12.2. Other multiples: P/B 0.9, P/S 0.2, EV/EBITDA 6.9.
How solid is the balance sheet of China Energy Engineering Corp Ltd (601868)?
Balance-sheet figures for China Energy Engineering Corp Ltd (as of Nov 1, 2026): return on equity 4.2%, debt of 1.86 per unit of equity. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is 601868 from its 52-week high?
China Energy Engineering Corp Ltd trades at ¥2.33, about 39% below its 52-week high of ¥3.80 and 3% above the low of ¥2.26 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of ¥2.76 is for.
Which stocks are comparable to China Energy Engineering Corp Ltd?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is China Energy Engineering Corp Ltd stock attractive at the current price?
The data as of Nov 1, 2026: price ¥2.33, calculated fair value ¥2.76 (+18%), Quality Score 40/100, from 14 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 601868 calculated?
We run China Energy Engineering Corp Ltd through 14 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥2.76, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. China Energy Engineering Corp Ltd currently trades 16% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of China Energy Engineering Corp Ltd (601868)?
The closing price on Nov 5, 2026 was ¥2.33. Our model-based fair value is ¥2.76, about +18% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with China Energy Engineering Corp Ltd right now?
Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Where does the earnings growth of China Energy Engineering Corp Ltd (601868) come from?
Earnings per share at China Energy Engineering Corp Ltd grew +1.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +2.0 %, EBIT margin −1.5 %, tax rate +1.0 %, residual (interest, one-offs) +0.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of China Energy Engineering Corp Ltd
How large is the market capitalisation of China Energy Engineering Corp Ltd (601868)?
The market capitalisation of China Energy Engineering Corp Ltd is 97.1B CNY (≈ $14.6B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of China Energy Engineering Corp Ltd (601868)?
The price-to-sales ratio of China Energy Engineering Corp Ltd is 0.22 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of China Energy Engineering Corp Ltd (601868)?
Earnings per share at China Energy Engineering Corp Ltd are ¥0.1200 (price ÷ EPS = P/E 19.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of China Energy Engineering Corp Ltd (601868)?
The dividend yield of China Energy Engineering Corp Ltd is 1.3% (payout 25.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of China Energy Engineering Corp Ltd (601868)?
The net margin of China Energy Engineering Corp Ltd is 1.2% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of China Energy Engineering Corp Ltd (601868)?
The return on equity (ROE) of China Energy Engineering Corp Ltd is 4.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of China Energy Engineering Corp Ltd (601868)?
On an EBIT basis the return on assets of China Energy Engineering Corp Ltd is 2.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of China Energy Engineering Corp Ltd (601868)?
The operating margin of China Energy Engineering Corp Ltd is 4.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at China Energy Engineering Corp Ltd (601868)?
Revenue at China Energy Engineering Corp Ltd is growing −4.9% versus a year earlier (3y avg +7.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at China Energy Engineering Corp Ltd (601868)?
Earnings per share at China Energy Engineering Corp Ltd are growing −36.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does China Energy Engineering Corp Ltd (601868) generate?
The free cash flow of China Energy Engineering Corp Ltd is −29.3B CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does China Energy Engineering Corp Ltd (601868) carry?
The net debt of China Energy Engineering Corp Ltd is 265B CNY (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Nov 1, 2026