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Jinhong Holding (000669) Fair Value & Analysis

Technology · CN · Market cap 2.7B CNY

JH Jinhong Holding 000669 · SHE
Price¥3.53
Fair Value¥0.5900
Upside-83.3%
Quality55/100
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Weak Growth
Thin margins · 3.5% net margin
High debt · generates free cash flow
Trails peers (5/13)
Narrow moat 41/100
Evidence: Medium Range ¥0.4200 – ¥2.14 Share as image

Fair value as of: Jul 21, 2026

From 24 valuation models · updated 20 days ago

Share price −3.3% over the past month.

A solid business, but screening 83% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥2.14). The favourable scenario is already priced in.
  • The model range is unusually wide (¥0.4200 to ¥2.14). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥5.48 ¥1.28 Fair Value ¥0.5900 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.

How to read this chart

60‑month range ¥1.28 – ¥5.48 · fair‑value band ¥0.4200 – ¥2.14 · the ¥3.53 price screens above the ¥0.5900 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Jinhong Holding (000669) currently trades at ¥3.53, while our model-based Fair Value estimate is ¥0.5900, implying the stock looks roughly 83.3% overvalued today. The Quality Score stands at 55/100 (solid quality), in the Technology 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, Jinhong Holding generated revenue of 1.3B CNY at a net margin of 3.5%. Revenue grew 3.7% year over year. It earns a return on equity of 31.5%. Net debt stands at 613M CNY. Fundamentals as of Jul 21, 2026

Our scenario range runs from ¥0.4200 (bear case) to ¥2.14 (bull case); at ¥3.53, 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 37% below its 52-week high and 41% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -61% fair-value upside, at -83%, 000669 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 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. Evidence
Highest evidence
Growth DCF ¥4.27 ¥8.23 ¥14.61 80
Residual Income ¥0.3300 ¥0.5100 ¥7.84 76
Rev-Margin DCF ¥1.52 ¥2.13 ¥3.44 74
All 24 models by family
DCF Models
FCF DCF ¥4.55 ¥7.07 ¥14.93 38
Owner Earnings ¥0.1200 ¥0.4200 ¥1.01 31
5Y Revenue Exit ¥1.41 ¥1.83 ¥2.67 39
5Y EBITDA Exit ¥1.50 ¥2.03 ¥3.05 41
5Y P/E Exit ¥1.53 ¥2.51 ¥3.66 38
10Y Revenue Exit ¥2.37 ¥3.76 ¥4.15 36
10Y EBITDA Exit ¥2.45 ¥3.97 ¥6.09 37
10Y P/E Exit ¥2.47 ¥4.02 ¥6.16 35
Earnings-Based
Graham-Dodd ¥0.2700 ¥1.91 ¥2.68 54
Lynch FV ¥0.9900 ¥1.41 ¥1.83 50
PEG = 1.0 ¥0.9900 ¥1.41 ¥1.83 46
EPV ¥0.1000 ¥0.1300 ¥0.1600 59
Multiples
P/E Multiple ¥0.4200 ¥0.5600 ¥0.7000 63
P/S Multiple ¥0.5100 ¥0.6800 ¥0.8500 58
P/B Multiple ¥0.1200 ¥0.1600 ¥0.2000 55
EV/EBIT ¥0.0800 ¥0.1400 ¥0.2100 53
EV/EBITDA ¥0.2700 ¥0.4000 ¥0.5300 54
EV/Revenue ¥0.1200 ¥0.2200 ¥0.3200 43
Asset-Based
NCAV (Graham) ¥0.0400 ¥0.0600 ¥0.0900 50
Growth DCF
Growth DCF ¥4.27 ¥8.23 ¥14.61 80
Rev-Margin DCF ¥1.52 ¥2.13 ¥3.44 74
Economic Profit
Residual Income ¥0.3300 ¥0.5100 ¥7.84 76
ROIC Compounder ¥0.1100 ¥0.2000 ¥0.2800 72
Growth Earnings
Growth-Adj P/E ¥1.15 ¥1.65 ¥2.14 68

Widest divergence: DCF Models (¥2.51) versus Asset-Based (¥0.0600). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.3B CNY
Revenue growth (YoY) +3.7%
Net margin 3.5%
Return on equity 31.5%
Free cash flow 200M CNY FY2025
P/E ratio 67.2
More key figures
Operating margin 4.6%
EPS (TTM) ¥0.0600
Net debt 613M CNY FY2025

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 51 · Market factors (momentum, volatility) 56

Profitability 38
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 79
Earnings quality: real cash, not paper profit
Fin. Strength 3
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 64
Calm price path (market factor)
Momentum 55
Price trend over the last 3–12 months (market factor)
52W Momentum 49
Distance to the 52-week high (market factor)
Net Issuance 80
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

Jinhong Holding Group Co., Ltd. constructs and manages long-distance natural gas pipeline networks. The company offers liquefied natural gas and petroleum gas.

Full company description

Jinhong Holding Group Co., Ltd. constructs and manages long-distance natural gas pipeline networks. The company offers liquefied natural gas and petroleum gas. It also engages in development and transportation of gas source; operation and sale of city gas; investment and operation of vehicle gas stations; supply and distribution of LNG point; and development and construction of energy projects, as well as construction and sale of equipment. In addition, it offers household pipeline engineering installation services. The company was formerly known as PetroChina Jinhong Energy Investment Co.,Ltd. and changed its name to Jinhong Holding Group Co., Ltd. in September 2017. Jinhong Holding Group Co., Ltd. was founded in 1992 and is based in Hengyang, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jinhong Holding reported revenue of ¥1.2B in FY2025 versus ¥2.0B in FY2021, a compound −10.8%/yr. Reported net income was ¥27.4M in FY2025.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.2B CNY
Latest YoY
−4.5%
Avg. growth/yr (3Y) 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.
−0.3%
Avg. growth/yr (5Y) 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.
−11.5%
Avg. growth/yr (32Y) 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.
+3.9%
Revenue −10.8%/yr
FY21 ¥2.0B
FY22 ¥1.3B
FY23 ¥1.2B
FY24 ¥1.3B
FY25 ¥1.2B
Net income
FY21 −¥661M
FY22 −¥133M
FY23 −¥223M
FY24 −¥212M
FY25 ¥27.4M

000669 screens 83% overvalued. Compare with Cisco Systems, Inc →

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Cite: Fair Value Calculator (2026). "Jinhong Holding Fair Value". https://www.fairvalue-calculator.com/stock/000669

Peer Group

Communication Equipment · 286 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 55 · Above median
Fair Value upside −83% · Bottom 25%
Return on equity (TTM) 32% · Top 25%
Return on assets 1% · Below median
Net margin (TTM) 3% · Above median
Operating margin (TTM) 5% · Above median
Revenue growth 4% · Below median
Debt / equity 2.71× · Higher than 75% of peers

Valuation Multiples vs Communication Equipment median · lower = cheaper

P/E (TTM) 67.2× · Pricier than median
P/B 45.75× · Pricier than 75% of peers
P/S (TTM) 2.17× · Pricier than median
P/FCF 2.0× · Cheaper than median
EV/EBITDA 53.5× · 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 19 · sector 30
PAST 100 · sector 15
HEALTH 0 · sector 98
DIVIDEND 0 · sector 25

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 Communication Equipment stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
Cisco Systems, Inc CSCO $119.25 $43.05 -64%
Zhongji Innolight Co 300308 ¥1,094 ¥171.09 -84%
Foxconn Industrial Internet Co 601138 ¥56.50 ¥28.65 -49%
Eoptolink Technology Inc 300502 ¥482.88 ¥155.05 -68%
Nokia Oyj NOK $11.25 $2.67 -76%
Motorola Solutions, Inc MSI $413.31 $190.43 -54%
Suzhou TFC Optical Communication Co 300394 ¥244.13 ¥32.04 -87%
Telefonaktiebolaget LM Ericsson (publ), ERIC $11.72 $15.96 +36%
Accton Technology Corporation 2345 2,090 TWD 846.28 TWD -60%
ZTE Corporation 000063 ¥40.00 ¥15.75 -61%

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Frequently asked questions

Is Jinhong Holding (000669) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of ¥0.5900 versus a price of ¥3.53, about −83% (overvalued).
What is the fair value of 000669?
Our model-based fair value for Jinhong Holding is ¥0.5900 (as of Jul 21, 2026), built from audited fundamentals. The current price is ¥3.53.
What is the quality score of 000669?
Jinhong Holding has a Quality Score of 55/100. 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 Jinhong Holding (000669)?
Jinhong Holding reported trailing-twelve-month revenue of about 1.3B CNY (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 000669?
The net profit margin of Jinhong Holding is about 3.5%, meaning it keeps roughly 3.5% of revenue as net income. Based on the latest reported figures.

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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