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Inner Mongolia Berun Chemical Company (000683) Fair Value & Analysis

Basic Materials · CN · Market cap 25.8B CNY

IM Inner Mongolia Berun Chemical Company 000683 · SHE
Price¥6.07
Fair Value¥4.73
Upside-22.1%
Quality60/100
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Mixed Growth
Thin margins · 8.6% net margin
Low debt · generates free cash flow
4.29% dividend yield
Ranks above peers (10/14)
Moderate moat 52/100
Evidence: Medium Range ¥3.55 – ¥5.91 Share as image

Fair value as of: Jul 21, 2026

From 26 valuation models · updated 20 days ago

Fair value updated Jul 21, 2026, revised from ¥8.28 to ¥4.73 (−42.9%) since Jun 25, 2026. Share price +8.4% over the past month.

A solid business, but screening 22% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥5.91). The favourable scenario is already priced in.
  • Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥11.38 ¥1.77 Fair Value ¥4.73 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 ¥1.77 – ¥11.38 · fair‑value band ¥3.55 – ¥5.91 · the ¥6.07 price screens above the ¥4.73 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

Inner Mongolia Berun Chemical Company (000683) currently trades at ¥6.07, while our model-based Fair Value estimate is ¥4.73, implying the stock looks roughly 22.1% overvalued today. The Quality Score stands at 60/100 (solid quality), in the Basic Materials 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, Inner Mongolia Berun Chemical Company generated revenue of 11.9B CNY at a net margin of 8.6%. Revenue declined 5.2% year over year. It earns a return on equity of 8.3%. Net debt stands at 1.8B CNY. Fundamentals as of Jul 21, 2026

Our scenario range runs from ¥3.55 (bear case) to ¥5.91 (bull case); at ¥6.07, 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 39% below its 52-week high and 29% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -46% fair-value upside, at -22%, 000683 screens cheaper 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
Growth DCF ¥11.34 ¥20.83 ¥37.53 80
Residual Income ¥3.67 ¥4.31 ¥7.47 76
Rev-Margin DCF ¥6.14 ¥9.88 ¥14.91 74
All 26 models by family
DCF Models
FCF DCF ¥11.54 ¥22.24 ¥41.86 38
Owner Earnings ¥7.24 ¥13.98 ¥26.31 31
5Y Revenue Exit ¥6.14 ¥9.88 ¥14.83 39
5Y EBITDA Exit ¥10.23 ¥18.63 ¥29.42 41
5Y P/E Exit ¥7.56 ¥12.92 ¥19.13 38
10Y Revenue Exit ¥7.69 ¥11.95 ¥18.37 36
10Y EBITDA Exit ¥10.57 ¥18.51 ¥31.05 37
10Y P/E Exit ¥8.78 ¥14.23 ¥22.11 35
Earnings-Based
Graham-Dodd ¥3.31 ¥17.43 ¥24.12 54
Lynch FV ¥4.79 ¥6.84 ¥8.89 50
PEG = 1.0 ¥4.79 ¥6.84 ¥8.89 46
EPV ¥7.84 ¥9.15 ¥10.30 59
Dividend Discount
Gordon GGM ¥3.25 ¥6.75 ¥10.71 70
DDM Multi-Stage ¥3.25 ¥5.69 ¥7.08 61
Multiples
P/E Multiple ¥6.21 ¥8.28 ¥10.36 63
P/S Multiple ¥4.01 ¥5.35 ¥6.69 58
P/B Multiple ¥6.21 ¥8.28 ¥10.36 55
EV/EBIT ¥10.14 ¥13.53 ¥16.92 53
EV/EBITDA ¥10.30 ¥13.74 ¥17.19 54
EV/Revenue ¥3.71 ¥5.31 ¥6.92 43
Asset-Based
NCAV (Graham) ¥1.95 ¥2.61 ¥3.90 50
Growth DCF
Growth DCF ¥11.34 ¥20.83 ¥37.53 80
Rev-Margin DCF ¥6.14 ¥9.88 ¥14.91 74
Economic Profit
Residual Income ¥3.67 ¥4.31 ¥7.47 76
ROIC Compounder ¥9.13 ¥12.57 ¥17.14 72
Growth Earnings
Growth-Adj P/E ¥6.42 ¥9.17 ¥11.92 68

Widest divergence: DCF Models (¥13.98) versus Asset-Based (¥2.61). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 11.9B CNY
Revenue growth (YoY) -5.2%
Net margin 8.6%
Return on equity 8.3%
Free cash flow 3.2B CNY FY2024
P/E ratio 25.7
More key figures
Operating margin 21.7%
EPS (TTM) ¥0.2700
Dividend yield 4.3%
EPS growth (YoY) +22.2%
Net debt 1.8B CNY FY2024

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

Quality Score breakdown

Overall quality 60/100

Of which business quality 61 · Market factors (momentum, volatility) 46

Profitability 40
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 89
Earnings quality: real cash, not paper profit
Fin. Strength 58
Balance sheet, leverage, solvency risk
Investment 54
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 33
Price trend over the last 3–12 months (market factor)
52W Momentum 44
Distance to the 52-week high (market factor)
Net Issuance 69
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

Inner Mongolia Berun Chemical Company Limited, together with its subsidiaries, produces and sells soda ash, baking soda, fertilizers, and other chemical products in China. It operates through Soda Ash; Fertilizer and Other Agricultural Production Materials; and Other segments.

Full company description

Inner Mongolia Berun Chemical Company Limited, together with its subsidiaries, produces and sells soda ash, baking soda, fertilizers, and other chemical products in China. It operates through Soda Ash; Fertilizer and Other Agricultural Production Materials; and Other segments. The company offers soda ash for use in glass applications, as well as for the metallurgy, chemical, light industry, daily chemical, and food industries; baking soda for use in food, feed, pharmaceuticals, daily chemical cleaning, environmental desulfurization, firefighting, printing and dyeing, rubber, leather, metallurgy, water treatment, and other applications; urea for use in agricultural fertilizers, melamine, urea-formaldehyde resin, adhesives, environmental denitrification, automobiles, feed, pharmaceuticals, printing and dyeing, leather, water treatment, and other applications; and sodium bicarbonate, coal-based urea, and alkali products. It also engages in water production and supply; ecological protection and environmental governance; electricity production; coal washing; trading; e-commerce; water treatment; logistics and transportation; investment management; business services; and chemical products wholesale activities. The company was formerly known as Inner Mongolia Yuan Xing Energy Company Limited and changed its name to Inner Mongolia Berun Chemical Company Limited in May 2025. Inner Mongolia Berun Chemical Company Limited was founded in 1996 and is headquartered in Ordos, China.

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

Revenue & earnings trend

FY2020 – FY2024 · reported fiscal years

Inner Mongolia Berun Chemical Company reported revenue of ¥13.3B in FY2024 versus ¥7.7B in FY2020, a compound +14.6%/yr. Reported net income was ¥1.8B in FY2024, compounding +127.1%/yr from FY2020.

Growth Quality 76/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2024)
13.3B CNY
Latest YoY
+10.1%
Avg. growth/yr (3Y)
+3.0%
Avg. growth/yr (5Y)
+11.5%
Avg. growth/yr (31Y)
+17.7%
Revenue +14.6%/yr
FY20 ¥7.7B
FY21 ¥12.1B
FY22 ¥11.0B
FY23 ¥12.0B
FY24 ¥13.3B
Net income +127.1%/yr
FY20 ¥68.1M
FY21 ¥4.9B
FY22 ¥2.7B
FY23 ¥1.4B
FY24 ¥1.8B

000683 screens 22% overvalued. Compare with BASF SE →

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Cite: Fair Value Calculator (2026). "Inner Mongolia Berun Chemical Company Fair Value". https://www.fairvalue-calculator.com/stock/000683

Peer Group

Chemicals · 334 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 60 · Top 25%
Fair Value upside −22% · Above median
Return on equity (TTM) 8% · Above median
Return on assets 4% · Above median
Net margin (TTM) 9% · Above median
Operating margin (TTM) 22% · Top 25%
Revenue growth -5% · Below median
Dividend yield (TTM) 4.3% · Top 25%
Debt / equity 0.27× · Higher than median

Valuation Multiples vs Chemicals median · lower = cheaper

P/E (TTM) 25.7× · Cheaper than median
P/B 1.78× · Pricier than median
P/S (TTM) 2.17× · Pricier than median
P/FCF 1.2× · Cheaper than median
EV/EBITDA 6.6× · Cheaper than median

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 4 · sector 0
FUTURE 0 · sector 20
PAST 33 · sector 19
HEALTH 86 · sector 94
DIVIDEND 86 · sector 27

Insider activity: 45/100

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

Stock Price Fair Value vs Fair Value
BASF SE BASN 1,034 MXN 532.13 MXN -49%
Ningxia Baofeng Energy Group 600989 ¥20.32 ¥20.17 -1%
Zhejiang Juhua Co 600160 ¥42.85 ¥23.35 -46%
PT Barito Pacific Tbk, BRPT 1,690 IDR 1,628 IDR -4%
LG Chem, Ltd 051910 260,500 KRW 587,755 KRW +126%
Formosa Chemicals & Fibre Corporation 1326 66.10 TWD 6.79 TWD -90%
PTT Global Chemical Public Company PTTGC 35.50 THB 18.21 THB -49%
542812 542812 ₹4,369 ₹791.05 -82%
Indorama Ventures Public Company IVL 24.50 THB 17.95 THB -27%
Navin Fluorine International Limited NAVINFLUOR ₹8,650 ₹2,146 -75%

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Frequently asked questions

Is Inner Mongolia Berun Chemical Company (000683) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of ¥4.73 versus a price of ¥6.07, about −22% (overvalued).
What is the fair value of 000683?
Our model-based fair value for Inner Mongolia Berun Chemical Company is ¥4.73 (as of Jul 21, 2026), built from audited fundamentals. The current price is ¥6.07.
What is the quality score of 000683?
Inner Mongolia Berun Chemical Company has a Quality Score of 60/100. 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 Inner Mongolia Berun Chemical Company (000683)?
Inner Mongolia Berun Chemical Company reported trailing-twelve-month revenue of about 11.9B CNY (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 000683?
The net profit margin of Inner Mongolia Berun Chemical Company is about 8.6%, meaning it keeps roughly 8.6% of revenue as net income. Based on the latest reported figures.
Does Inner Mongolia Berun Chemical Company pay a dividend?
Inner Mongolia Berun Chemical Company currently shows a dividend yield of about 4.29% relative to its recent price (as of Jul 21, 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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