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Angang Steel Co Ltd Class A (000898) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Angang Steel Co Ltd Class A stock ¥3.16, price ¥1.95, upside +62.1%, quality 43 out of 100. Rating: strongly undervalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

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Basic Materials CN · ISIN CNE000000SQ4

AS Angang Steel Co Ltd Class A logo Thin data Nov 3, 2026

Angang Steel Co Ltd Class A

000898 · SHE
Cheap, value-trap risk

The stock costs 38% less than our calculation considers fair.

Fair value ¥3.16 · Strongly undervalued (38%)
Low debt
Even on cautious assumptions the value is 21% above the price (¥2.36).
Quality 43/100
Weak Growth (revenue 5y −1.0 %/yr in CNY)
Loss-making · -6.6% net margin (TTM)
Negative free cash flow
Trails peers (3/12)
Narrow moat 6/100 · thin data
Thin data
⟳ Cyclical
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

¥6.18 ¥1.81 Fair Value ¥3.16 May 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.

How to read this chart

60‑month range ¥1.81 – ¥6.18 · fair‑value band ¥2.36 – ¥4.72 · the ¥1.95 price screens below the ¥3.16 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.

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Company profile

Angang Steel Company Limited engages in the production, processing, and sale of steel products in the People's Republic of China and internationally.

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Its principal products include hot rolled sheets, medium and high sheets, cold rolled sheets, galvanized steel sheets, color coating sheets, cold rolled silicon steel, heavy rails and profiles, seamless steel pipes, and wire rods.

The company also engages in ferrous metal smelting and steel rolling processing activities. In addition, it sells metal materials and products, and building materials, etc.; and purchases and sells metal and other materials, as well as imports, exports, wholesales, and retails steel and goods.

Further, the company engages in the production of metal wire ropes, coal chemical, coking and chemical products, and products and dissolved acetylene; and sale of compressed and liquefied gas.

Additionally, it engages in e-commerce transactions of industrial products; provision of consulting and logistics distribution technology services; sales of equipment for gas and liquid separation and purification; supply chain financial services; processing and sale of steel and steel coils; and steel trade activities.

Its products are used in various industries, such as machinery, metallurgy, petroleum, chemical, coal, electricity, railway, ship, automobile, construction, home appliances, and aviation industries.

The company was formerly known as Angang New Steel Company Limited and changed its name to Angang Steel Company Limited in June 2006. Angang Steel Company Limited was founded in 1997 and is headquartered in Anshan, China. Angang Steel Company Limited is a subsidiary of Anshan Iron & Steel Co. Ltd.

Stock analysis

Angang Steel Co Ltd Class A (000898) currently trades at ¥1.95, while our model-based Fair Value estimate is ¥3.16, implying the stock looks roughly 38% undervalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 93/100, which puts the data coverage at low.

Scenario range: ¥2.36 (bear) to ¥4.72 (bull), the price of ¥1.95 sits below 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 43/100 (below-average quality), in the Basic Materials sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Angang Steel Co Ltd Class A reported revenue of 96.1B CNY in FY2025 versus 136B CNY in FY2021, a compound −8.3%/yr. Reported net income was −4.1B CNY in FY2025.

Key figures

Market cap 18.3B CNY (≈ $2.7B) Mid · P/S ratio 0.19 · EPS (TTM) ¥−0.6500 · Dividend yield 1.9% · Net margin −6.6% · Return on equity −13.6% · Return on assets (EBIT) −1.2% (5-year average) · Operating margin −5.9%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 6 out of 100 (low confidence).

What moves the price

The share trades about 30% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −34% fair-value upside, at 62%, 000898 screens cheaper than that median.

Fair Value models

Bear ¥2.36 Fair Value ¥3.16 Bull ¥4.72
Price ¥1.95 · Upside +62.1%
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. 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.
Best data coverage
NCAV (Graham) ¥2.36 ¥3.16 ¥4.72 54
All 1 models by family
Asset-Based
NCAV (Graham) ¥2.36 ¥3.16 ¥4.72 54

Open the full fair value analysis →

Quality Score breakdown

Overall quality 43/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 15
How much profit the company makes from its sales and capital
Quality Growth 54
Are margins and returns getting better?
Cashflow 9
Do the profits arrive as real cash?
Financial strength 41
Debt, balance sheet and risk of trouble
Investment 95
Does it invest with discipline instead of growing at any price?
Low Volatility 64
How calm the share price moves, does not count
Price momentum 21
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 5
Distance to the 52-week high, does not count
New shares 90
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 2/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−8.6%
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.
−9.8%
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.
−1.0%
Start year 2020 (pandemic). Over 10 years: +6.2% a year
Revenue growth 31 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.
+10.5%
Profit margin (trend) ⓘ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.
2.5% (2020) → −4.0% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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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.Steel · 410 stocks

Beats the industry median on 3/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 43 · Below median
Fair Value upside +62.1% · Top 25%
Profitability
Return on assets −4.2% · Bottom 25%
Net margin (12 months) −6.6% · Bottom 25%
Operating margin (12 months) −5.9% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −2.2% · Below median
Dividend yield (12 months) 1.9% · Below median
Balance sheet
Debt / equity 0.14× · Above median

Valuation Multiplesvs Steel median · lower = cheaper

P/B 0.42× · Cheapest 25%
P/S (12 months) 0.20× · Cheapest 25%
PEG 1.16× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 21
FUTURE (revenue growth)0 · sector 38
PAST (return on equity)0 · sector 19
HEALTH (low debt)93 · sector 95
DIVIDEND (yield)38 · sector 51

Context: sector, industry, market

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 Steel stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Baoshan Iron & Steel Co 600019 ¥6.11 ¥8.07 +32% vs 000898
POSCO Holdings PKX $48.90 $44.09 −10% vs 000898
Tata Steel Limited TATASTEEL ₹186.30 ₹148.06 −21% vs 000898
JSW Steel Limited JSWSTEEL ₹1,357 ₹1,029 −24% vs 000898
ArcelorMittal S.A MT €54.82 €36.10 −34% vs 000898
Reliance, Inc RS $417.00 $211.54 −49% vs 000898
Nucor Corporation NUE $244.97 $116.49 −52% vs 000898
Jindal Steel Limited JINDALSTEL ₹1,165 ₹516.03 −56% vs 000898
Steel Dynamics, Inc STLD $222.90 $89.54 −60% vs 000898
Inner Mongolia Baotou Steel Union Co 600010 ¥1.99 ¥0.5400 −73% vs 000898

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Angang Steel Co Ltd Class A: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Angang Steel Co Ltd Class A Fair Value". https://www.fairvalue-calculator.com/stock/000898

Frequently asked questions

Is Angang Steel Co Ltd Class A (000898) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of ¥3.16 versus a price of ¥1.95, about +62% upside (undervalued).
What is the fair value of 000898?
Our model-based fair value for Angang Steel Co Ltd Class A is ¥3.16 (as of Nov 3, 2026), built from audited fundamentals. The current price: ¥1.95.
What is the quality score of 000898?
Angang Steel Co Ltd Class A has a Quality Score of 43/100. 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 Angang Steel Co Ltd Class A (000898)?
Our model-based price target is the fair value of ¥3.16 (as of Nov 3, 2026) from 1 valuation models. Cautious scenario ¥2.36, optimistic scenario ¥4.72. It is a calculation from audited fundamentals, not an analyst target.
What is the Angang Steel Co Ltd Class A stock forecast for 2026?
Our models put fair value at ¥3.16, about +62% upside versus a price of ¥1.95 (undervalued). Cautious scenario ¥2.36, optimistic scenario ¥4.72. The calculation is refreshed regularly with new filings.
What is the revenue of Angang Steel Co Ltd Class A (000898)?
Angang Steel Co Ltd Class A reported trailing-twelve-month revenue of about 92.8B CNY (latest available figure, as of Nov 3, 2026).
Does Angang Steel Co Ltd Class A pay a dividend?
Angang Steel Co Ltd Class A currently shows a dividend yield of 1.92% relative to its recent price (as of Nov 3, 2026).
How much is the dividend of Angang Steel Co Ltd Class A (000898)?
Angang Steel Co Ltd Class A has a dividend yield of 1.9%.
What is the intrinsic value of Angang Steel Co Ltd Class A (000898)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Angang Steel Co Ltd Class A it is ¥3.16 per share (as of Nov 3, 2026), against a price of ¥1.95. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Angang Steel Co Ltd Class A stock overvalued or undervalued in 2026?
As of Nov 3, 2026, 000898 trades below its calculated fair value: price ¥1.95, fair value ¥3.16, a gap of about +62% (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 000898?
No. The price is what the market pays today (¥1.95); the fair value is what the company's own numbers justify (¥3.16). For Angang Steel Co Ltd Class A the two are ¥1.21 per share apart. That gap is exactly why we show both numbers side by side.
How much is Angang Steel Co Ltd Class A worth?
The market values Angang Steel Co Ltd Class A at about 18.3B CNY (market capitalisation, as of Nov 3, 2026). Per share that is ¥1.95; our models calculate a fair value of ¥3.16 per share.
What do the bullish and bearish scenarios say about 000898?
Our models span a range for Angang Steel Co Ltd Class A: cautious scenario ¥2.36, base ¥3.16, optimistic ¥4.72 per share (as of Nov 3, 2026, price ¥1.95). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of 000898?
The PEG ratio of Angang Steel Co Ltd Class A is 1.16 (P/E divided by earnings growth, as of Nov 3, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Angang Steel Co Ltd Class A (000898)?
Balance-sheet figures for Angang Steel Co Ltd Class A (as of Nov 3, 2026): return on equity −13.6%, debt of 0.14 per unit of equity. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is 000898 from its 52-week high?
Angang Steel Co Ltd Class A trades at ¥1.95, about 30% below its 52-week high of ¥2.80 and 5% above the low of ¥1.86 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ¥3.16 is for.
Which stocks are comparable to Angang Steel Co Ltd Class A?
From the same area (Basic Materials) we also value Nucor Corporation, ArcelorMittal S.A, Steel Dynamics, Inc, JSW Steel Limited, 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 Angang Steel Co Ltd Class A stock attractive at the current price?
The data as of Nov 3, 2026: price ¥1.95, calculated fair value ¥3.16 (+62%), Quality Score 43/100, from 1 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 000898 calculated?
We run Angang Steel Co Ltd Class A through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of ¥3.16 builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. Angang Steel Co Ltd Class A currently trades 38% 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 Angang Steel Co Ltd Class A (000898)?
The closing price on Nov 6, 2026 was ¥1.95. Our model-based fair value is ¥3.16, about +62% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Angang Steel Co Ltd Class A right now?
The large discount to fair value meets weak quality (43/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (¥2.36). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (¥2.36 to ¥4.72) leaves room in how you read the outcome.

Key figures of Angang Steel Co Ltd Class A

How large is the market capitalisation of Angang Steel Co Ltd Class A (000898)?
The market capitalisation of Angang Steel Co Ltd Class A is 18.3B CNY (≈ $2.7B). 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 Angang Steel Co Ltd Class A (000898)?
The price-to-sales ratio of Angang Steel Co Ltd Class A is 0.19 (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 Angang Steel Co Ltd Class A (000898)?
Earnings per share at Angang Steel Co Ltd Class A are ¥−0.6500. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Angang Steel Co Ltd Class A (000898)?
The dividend yield of Angang Steel Co Ltd Class A is 1.9%. 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 Angang Steel Co Ltd Class A (000898)?
The net margin of Angang Steel Co Ltd Class A is −6.6% (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 Angang Steel Co Ltd Class A (000898)?
The return on equity (ROE) of Angang Steel Co Ltd Class A is −13.6% (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 Angang Steel Co Ltd Class A (000898)?
On an EBIT basis the return on assets of Angang Steel Co Ltd Class A is −1.2% (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 Angang Steel Co Ltd Class A (000898)?
The operating margin of Angang Steel Co Ltd Class A is −5.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Angang Steel Co Ltd Class A (000898)?
Revenue at Angang Steel Co Ltd Class A is growing −2.2% versus a year earlier (3y avg −9.8%). 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 Angang Steel Co Ltd Class A (000898)?
Earnings per share at Angang Steel Co Ltd Class A are growing −93.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Angang Steel Co Ltd Class A (000898) generate?
The free cash flow of Angang Steel Co Ltd Class A is −2.8B 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 Angang Steel Co Ltd Class A (000898) carry?
The net debt of Angang Steel Co Ltd Class A is 10.3B 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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