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Bingshan Refrigeration & Heat Transfer Technologies Co (000530) Fair Value & Analysis

Industrials · CN · Market cap 4.8B CNY

BR Bingshan Refrigeration & Heat Transfer Technologies Co 000530 · SHE
Price¥4.93
Fair Value¥1.47
Upside-70.2%
Quality53/100
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Expensive Growth
Thin margins · 1.3% net margin
Low debt · negative free cash flow
0.91% dividend yield
Trails peers (2/14)
Narrow moat 24/100
Evidence: Medium Range ¥1.10 – ¥1.83 Share as image

Fair value as of: Jul 5, 2026

From 15 valuation models · updated 35 days ago

Fair value updated Jul 5, 2026, revised from ¥3.28 to ¥1.47 (−55.2%) since Jun 25, 2026. Share price −3.3% over the past month.

A solid business, but screening 70% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥1.83). The favourable scenario is already priced in.
  • Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥8.63 ¥3.08 Fair Value ¥1.47 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 5, 2026.

How to read this chart

60‑month range ¥3.08 – ¥8.63 · fair‑value band ¥1.10 – ¥1.83 · the ¥4.93 price screens above the ¥1.47 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 5, 2026.

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Analysis

Bingshan Refrigeration & Heat Transfer Technologies Co (000530) currently trades at ¥4.93, while our model-based Fair Value estimate is ¥1.47, implying the stock looks roughly 70.2% overvalued today. The Quality Score stands at 53/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Bingshan Refrigeration & Heat Transfer Technologies Co generated revenue of 4.3B CNY at a net margin of 1.3%. Revenue declined 10.1% year over year. It earns a return on equity of 1.7%. The balance sheet holds a net cash position of 308M CNY. Fundamentals as of Jul 5, 2026

Our scenario range runs from ¥1.10 (bear case) to ¥1.83 (bull case); at ¥4.93, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 41% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -70%, 000530 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Residual Income ¥2.59 ¥2.44 ¥1.87 76
ROIC Compounder ¥1.85 ¥2.04 ¥2.21 72
Growth-Adj P/E ¥0.8200 ¥1.17 ¥1.52 68
All 15 models by family
DCF Models
Owner Earnings ¥0.9600 ¥1.18 ¥1.51 31
Earnings-Based
Graham-Dodd ¥0.5000 ¥1.82 ¥2.46 54
Lynch FV ¥0.4300 ¥0.6200 ¥0.8100 50
PEG = 1.0 ¥0.4300 ¥0.6200 ¥0.8100 46
EPV ¥1.85 ¥2.04 ¥2.21 59
Multiples
P/E Multiple ¥1.16 ¥1.55 ¥1.93 63
P/S Multiple ¥0.9400 ¥1.25 ¥1.56 58
P/B Multiple ¥0.9400 ¥1.25 ¥1.56 55
EV/EBIT ¥2.54 ¥3.19 ¥3.83 53
EV/EBITDA ¥3.91 ¥5.01 ¥6.11 54
EV/Revenue ¥1.99 ¥2.58 ¥3.17 43
Asset-Based
NCAV (Graham) ¥1.87 ¥2.51 ¥3.74 50
Economic Profit
Residual Income ¥2.59 ¥2.44 ¥1.87 76
ROIC Compounder ¥1.85 ¥2.04 ¥2.21 72
Growth Earnings
Growth-Adj P/E ¥0.8200 ¥1.17 ¥1.52 68

Widest divergence: Asset-Based (¥2.51) versus Earnings-Based (¥0.6200). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 4.3B CNY
Revenue growth (YoY) -10.1%
Net margin 1.3%
Return on equity 1.7%
Free cash flow −70.8M CNY FY2025
P/E ratio 80.7
More key figures
Operating margin 2.8%
EPS (TTM) ¥0.0700
Dividend yield 0.9%
Net cash 308M CNY FY2024

Figures from reported company fundamentals · as of Jul 5, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 53/100

Of which business quality 50 · Market factors (momentum, volatility) 25

Profitability 23
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 47
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 66
Calm price path (market factor)
Momentum 12
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 93
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd., together with its subsidiaries, engages in the design, manufacturing, sale, installation, and maintenance of refrigeration, heating, and air conditioning equipment in China and internationally.

Full company description

Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd., together with its subsidiaries, engages in the design, manufacturing, sale, installation, and maintenance of refrigeration, heating, and air conditioning equipment in China and internationally. The company offers piston type, screw type, vortex type, and lithium bromide absorption refrigeration machines/units, as well as pressure vessels, combination warehouses, controlled atmosphere fresh-keeping warehouses, refrigeration stations, quick freezing machines, and heat pumps. It provides maintenance services, including inspection and patrol, routine maintenance, emergency services, technical training, and overhaul workshop; and digital services. In addition, the company engages in the manufacturing and sale of gas compression machinery; building hardware; and plumbing equipment. It serves industrial refrigeration and heating, commercial freezing and refrigeration, air conditioning and environment, smart cold chain, industrial internet and intelligent control, and energy storage thermal management and CCUS industries. The company was formerly known as Dalian Refrigeration Company Limited and changed its name to Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. in March 2020. Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. was founded in 1993 and is headquartered in Dalian, China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Bingshan Refrigeration & Heat Transfer Technologies Co reported revenue of ¥4.4B in FY2025 versus ¥2.1B in FY2021, a compound +20.5%/yr. Reported net income was ¥62.0M in FY2025.

Growth Quality 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
4.4B CNY
Latest YoY
−2.9%
Avg. growth/yr (3Y)
+15.0%
Avg. growth/yr (5Y)
+20.6%
Avg. growth/yr (35Y)
+11.0%
Revenue +20.5%/yr
FY21 ¥2.1B
FY22 ¥2.9B
FY23 ¥4.8B
FY24 ¥4.5B
FY25 ¥4.4B
Net income
FY21 −¥269M
FY22 ¥18.7M
FY23 ¥49.4M
FY24 ¥110M
FY25 ¥62.0M

000530 screens 70% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "Bingshan Refrigeration & Heat Transfer Technologies Co Fair Value". https://www.fairvalue-calculator.com/stock/000530

Peer Group

Specialty Industrial Machinery · 809 stocks

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.

Quality Score 53 · Below median
Fair Value upside −70% · Bottom 25%
Return on equity (TTM) 2% · Below median
Return on assets 0% · Bottom 25%
Net margin (TTM) 1% · Below median
Operating margin (TTM) 3% · Below median
Revenue growth -10% · Bottom 25%
Dividend yield (TTM) 0.9% · Below median
Debt / equity 0.12× · Higher than median

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 80.7× · Pricier than 75% of peers
P/B 1.51× · Cheaper than median
P/S (TTM) 1.11× · Cheaper than median
EV/EBITDA 22.3× · Pricier than median
PEG 5.07× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 0 · sector 23
PAST 7 · sector 28
HEALTH 94 · sector 96
DIVIDEND 18 · sector 24

VALUE 0: the price sits above our fair-value range.

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Jul 5, 2026).

Stock Price Fair Value vs Fair Value
GE Vernova Inc 1GEV €887.60 €186.93 -79%
1SIE 1SIE €273.20 €91.93 -66%
SMNS SMNS C$31.76 C$22.68 -29%
Eaton Corporation ETN $407.28 $171.92 -58%
Atlas Copco AB ATCOA kr 195.15 kr 112.59 -42%
Sandvik AB SAND kr 384.10 kr 193.01 -50%
Doosan Enerbility Co 034020 76,400 KRW 7,938 KRW -90%
Vestas Wind Systems A/S VWS kr 178.10 kr 124.54 -30%
Zhejiang Sanhua Intelligent Controls Co 002050 ¥43.20 ¥22.68 -48%
NARI Technology Co 600406 ¥22.19 ¥18.71 -16%

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Frequently asked questions

Is Bingshan Refrigeration & Heat Transfer Technologies Co (000530) overvalued or undervalued?
As of Jul 5, 2026, our model estimates a fair value of ¥1.47 versus a price of ¥4.93, about −70% (overvalued).
What is the fair value of 000530?
Our model-based fair value for Bingshan Refrigeration & Heat Transfer Technologies Co is ¥1.47 (as of Jul 5, 2026), built from audited fundamentals. The current price is ¥4.93.
What is the quality score of 000530?
Bingshan Refrigeration & Heat Transfer Technologies Co has a Quality Score of 53/100. 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 revenue of Bingshan Refrigeration & Heat Transfer Technologies Co (000530)?
Bingshan Refrigeration & Heat Transfer Technologies Co reported trailing-twelve-month revenue of about 4.3B CNY (latest available figure, as of Jul 5, 2026).
What is the net profit margin of 000530?
The net profit margin of Bingshan Refrigeration & Heat Transfer Technologies Co is about 1.3%, meaning it keeps roughly 1.3% of revenue as net income. Based on the latest reported figures.
Does Bingshan Refrigeration & Heat Transfer Technologies Co pay a dividend?
Bingshan Refrigeration & Heat Transfer Technologies Co currently shows a dividend yield of about 0.91% relative to its recent price (as of Jul 5, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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