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Poly Union Chemical Holding Group Co Ltd (002037) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Poly Union Chemical Holding Group Co Ltd stock ¥6.44, price ¥7.26, that is 11.3% below the price, quality 33 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Basic Materials CN · ISIN CNE000001L15

PU Poly Union Chemical Holding Group Co Ltd logo Thin data Nov 10, 2026

Poly Union Chemical Holding Group Co Ltd

002037 · SHE
Expensive, weak quality

Our calculation puts a fair price 11% below what the stock costs today.

Expensive Growth (revenue 5y +2.3 %/yr in CNY)
Revenue last quarter 8% below a year ago.
Fair value ¥6.44 · Overvalued
Quality 33/100
Loss-making · -14.9% net margin (TTM)
High debt
Negative free cash flow
Trails peers (4/12)
Narrow moat 10/100
Thin data
⟳ CyclicalEstimate
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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

¥19.19 ¥4.81 Fair Value ¥6.44 Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range ¥4.81 – ¥19.19 · fair‑value band ¥4.83 – ¥8.04 · the ¥7.26 price screens above the ¥6.44 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 10, 2026.

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Company profile

Poly Union Chemical Holding Group Co., Ltd. engages in the research and development, design, blasting, production, sale, distribution, and engineering and technical service of civil explosive equipment products in China.

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It offers industrial explosives, detonators, detonating cords, and personalized civil explosive products.

The company also engages in demolition works; transportation of dangerous goods and general cargo; and ecological protection and environmental management business, as well as provision of blasting technology development and technical consulting services.

Its products are used in mining, water conservancy and hydropower, infrastructure construction, urban reconstruction and National defense construction, and other fields.

Poly Union Chemical Holding Group Co., Ltd. was formerly known as Guizhou Jiulian Industrial Explosive Material Development Co., Ltd. and changed its name to Poly Union Chemical Holding Group Co., Ltd. in December 2019. The company was founded in 2002 and is headquartered in Guiyang, China.

Stock analysis

Poly Union Chemical Holding Group Co Ltd (002037) currently trades at ¥7.26, while our estimate is ¥6.44, 11% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: ¥4.83 (bear) to ¥8.04 (bull), the price of ¥7.26 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 33/100 (below-average quality), in the Basic Materials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Poly Union Chemical Holding Group Co Ltd reported revenue of 6.7B CNY in FY2025 versus 6.0B CNY in FY2021, a compound +2.6%/yr. Reported net income was −849M CNY in FY2025.

Key figures

Market cap 3.5B CNY (≈ $527M) Small · P/S ratio 0.48 · EPS (TTM) ¥−1.90 · Dividend yield 8.0% · Net margin −14.9% · Return on equity −50.4% · Return on assets (EBIT) −2.0% (5-year average) · Operating margin −2.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 10 out of 100 (medium confidence).

What moves the price

The share trades about 31% below its 52-week high and 26% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −41% fair-value upside, at −11%, 002037 screens cheaper than that median.

Fair Value

Bear ¥4.83 Fair Value ¥6.44 Bull ¥8.04
Price ¥7.26 · Downside -11.3%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 33/100

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

Profitability 8
How much profit the company makes from its sales and capital
Quality Growth 25
Are margins and returns getting better?
Cashflow 10
Do the profits arrive as real cash?
Financial strength 5
Debt, balance sheet and risk of trouble
Investment 98
Does it invest with discipline instead of growing at any price?
Low Volatility 71
How calm the share price moves, does not count
Price momentum 26
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 15
Distance to the 52-week high, does not count
New shares 82
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. 16/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+3.4%
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.
+1.7%
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.
+2.3%
Start year 2020 (pandemic). Over 10 years: +7.8% a year
Revenue growth 24 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.
+17.1%
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.
4.9% (2019) → 0.7% (2024)
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

002037 screens overvalued: fair value 11% below the price. Compare with Linde plc →

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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.Specialty Chemicals · 758 stocks

Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 33 · Bottom 25%
Fair Value upside −11.3% · Above median
Profitability
Return on assets −5.4% · Bottom 25%
Net margin (12 months) −14.9% · Bottom 25%
Operating margin (12 months) −2.0% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −8.1% · Bottom 25%
Dividend yield (12 months) 8.0% · Top 25%
Balance sheet
Debt / equity 2.61× · Highest 25%

Valuation Multiplesvs Specialty Chemicals median · lower = cheaper

P/B 3.20× · Priciest 25%
P/S (12 months) 0.56× · Cheapest 25%
PEG 0.31× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)18 · sector 4
FUTURE (revenue growth)0 · sector 65
PAST (return on equity)0 · sector 25
HEALTH (low debt)0 · sector 95
DIVIDEND (yield)100 · sector 30

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 Specialty Chemicals stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Nan Ya Plastics Corporation 1303 289.00 TWD 462.40 TWD +60% vs 002037
Wanhua Chemical Group 600309 ¥71.74 ¥68.03 −5% vs 002037
Linde plc LIN $521.78 $446.62 −14% vs 002037
PPG Industries, Inc PPG $124.42 $77.68 −38% vs 002037
DSM-Firmenich AG DSFIR CHF 97.25 CHF 57.84 −41% vs 002037
Sika AG SIKA CHF 194.00 CHF 98.89 −49% vs 002037
The Sherwin-Williams Company SHW $355.34 $146.37 −59% vs 002037
Givaudan SA GIVN CHF 4,048 CHF 1,554 −62% vs 002037
Ecolab Inc ECL $306.03 $96.56 −68% vs 002037
Air Products and Chemicals, Inc APD $312.25 $75.33 −76% vs 002037

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Poly Union Chemical Holding Group Co Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Poly Union Chemical Holding Group Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/002037

Frequently asked questions

Is Poly Union Chemical Holding Group Co Ltd (002037) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is ¥6.44 versus a price of ¥7.26, about 11% lower (overvalued).
What is the fair value of 002037?
Our estimate for Poly Union Chemical Holding Group Co Ltd is ¥6.44 (as of Nov 10, 2026), built from audited fundamentals. The current price: ¥7.26.
What is the quality score of 002037?
Poly Union Chemical Holding Group Co Ltd has a Quality Score of 33/100. 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 Poly Union Chemical Holding Group Co Ltd (002037)?
Our calculated price target is the estimate of ¥6.44 (as of Nov 10, 2026). Cautious scenario ¥4.83, optimistic scenario ¥8.04. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Poly Union Chemical Holding Group Co Ltd stock forecast for 2026?
Our estimate puts fair value at ¥6.44, about 11% lower versus a price of ¥7.26 (overvalued). Cautious scenario ¥4.83, optimistic scenario ¥8.04. The calculation is refreshed regularly with new filings.
What is the revenue of Poly Union Chemical Holding Group Co Ltd (002037)?
Poly Union Chemical Holding Group Co Ltd reported trailing-twelve-month revenue of about 6.3B CNY (latest available figure, as of Nov 10, 2026).
Does Poly Union Chemical Holding Group Co Ltd pay a dividend?
Poly Union Chemical Holding Group Co Ltd currently shows a dividend yield of 7.95% relative to its recent price (as of Nov 10, 2026).
How much is the dividend of Poly Union Chemical Holding Group Co Ltd (002037)?
Poly Union Chemical Holding Group Co Ltd has a dividend yield of 8.0%.
What is the intrinsic value of Poly Union Chemical Holding Group Co Ltd (002037)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Poly Union Chemical Holding Group Co Ltd it is ¥6.44 per share (as of Nov 10, 2026), against a price of ¥7.26.
Is Poly Union Chemical Holding Group Co Ltd stock overvalued or undervalued in 2026?
As of Nov 10, 2026, 002037 trades above its calculated fair value: price ¥7.26, fair value ¥6.44, a gap of about −11% (overvalued). 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 002037?
No. The price is what the market pays today (¥7.26); the fair value is what the company's own numbers justify (¥6.44). For Poly Union Chemical Holding Group Co Ltd the two are ¥0.8200 per share apart. That gap is exactly why we show both numbers side by side.
How much is Poly Union Chemical Holding Group Co Ltd worth?
The market values Poly Union Chemical Holding Group Co Ltd at about 3.5B CNY (market capitalisation, as of Nov 10, 2026). Per share that is ¥7.26; our models calculate a fair value of ¥6.44 per share.
What do the bullish and bearish scenarios say about 002037?
Our models span a range for Poly Union Chemical Holding Group Co Ltd: cautious scenario ¥4.83, base ¥6.44, optimistic ¥8.04 per share (as of Nov 10, 2026, price ¥7.26). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of 002037?
The PEG ratio of Poly Union Chemical Holding Group Co Ltd is 0.31 (P/E divided by earnings growth, as of Nov 10, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Poly Union Chemical Holding Group Co Ltd (002037)?
Balance-sheet figures for Poly Union Chemical Holding Group Co Ltd (as of Nov 10, 2026): return on equity −50.4%, debt of 2.61 per unit of equity. They feed the Quality Score of 33/100, which measures business quality independently of the share price.
How far is 002037 from its 52-week high?
Poly Union Chemical Holding Group Co Ltd trades at ¥7.26, about 31% below its 52-week high of ¥10.57 and 26% above the low of ¥5.76 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of ¥6.44 is for.
Which stocks are comparable to Poly Union Chemical Holding Group Co Ltd?
From the same area (Basic Materials) we also value Linde plc, Ecolab Inc, The Sherwin-Williams Company, Nan Ya Plastics Corporation, 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 Poly Union Chemical Holding Group Co Ltd stock attractive at the current price?
The data as of Nov 10, 2026: price ¥7.26, calculated fair value ¥6.44 (−11%), Quality Score 33/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Poly Union Chemical Holding Group Co Ltd itself currently trades above fair value. 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 Poly Union Chemical Holding Group Co Ltd (002037)?
The closing price on Nov 10, 2026 was ¥7.26. Our estimate is ¥6.44, about 11% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Poly Union Chemical Holding Group Co 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 upper half of our model range, so the margin of safety is thin. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.

Key figures of Poly Union Chemical Holding Group Co Ltd

How large is the market capitalisation of Poly Union Chemical Holding Group Co Ltd (002037)?
The market capitalisation of Poly Union Chemical Holding Group Co Ltd is 3.5B CNY (≈ $527M). 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 Poly Union Chemical Holding Group Co Ltd (002037)?
The price-to-sales ratio of Poly Union Chemical Holding Group Co Ltd is 0.48 (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 Poly Union Chemical Holding Group Co Ltd (002037)?
Earnings per share at Poly Union Chemical Holding Group Co Ltd are ¥−1.90. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Poly Union Chemical Holding Group Co Ltd (002037)?
The dividend yield of Poly Union Chemical Holding Group Co Ltd is 8.0%. 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 Poly Union Chemical Holding Group Co Ltd (002037)?
The net margin of Poly Union Chemical Holding Group Co Ltd is −14.9% (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 Poly Union Chemical Holding Group Co Ltd (002037)?
The return on equity (ROE) of Poly Union Chemical Holding Group Co Ltd is −50.4% (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 Poly Union Chemical Holding Group Co Ltd (002037)?
On an EBIT basis the return on assets of Poly Union Chemical Holding Group Co Ltd is −2.0% (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 Poly Union Chemical Holding Group Co Ltd (002037)?
The operating margin of Poly Union Chemical Holding Group Co Ltd is −2.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Poly Union Chemical Holding Group Co Ltd (002037)?
Revenue at Poly Union Chemical Holding Group Co Ltd is growing −8.1% versus a year earlier (3y avg +1.7%). 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 Poly Union Chemical Holding Group Co Ltd (002037)?
Earnings per share at Poly Union Chemical Holding Group Co Ltd are growing −97.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Poly Union Chemical Holding Group Co Ltd (002037) generate?
The free cash flow of Poly Union Chemical Holding Group Co Ltd is −99.0M 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 Poly Union Chemical Holding Group Co Ltd (002037) carry?
The net debt of Poly Union Chemical Holding Group Co Ltd is 3.9B 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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