Zhongshan Public Utilities Group Co Ltd (000685) fair value: what the stock is really worth
As of Sep 22, 2026: fair value of Zhongshan Public Utilities Group Co Ltd ¥14.39, price ¥10.94, upside +31.5%, quality 42 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? No
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Zhongshan Public Utilities Group Co Ltd
000685 · SHESpeculativeUpside exists, but weak quality makes the signal speculative.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range ¥5.83 – ¥14.42 · fair‑value band ¥11.10 – ¥30.48 · the ¥10.94 price screens below the ¥14.39 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Company profile
Zhongshan Public Utilities Group Co.,Ltd., together with its subsidiaries, engages in the environmental water, solid waste, new energy, engineering construction, and auxiliary businesses in China and internationally.
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Zhongshan Public Utilities Group Co.,Ltd., together with its subsidiaries, engages in the environmental water, solid waste, new energy, engineering construction, and auxiliary businesses in China and internationally. The company is involved in the urban water supply comprising water quality monitoring, engineering design, construction installation, information technology, and water treatment technology research and development and other related businesses, sewage treatment and reuse, drainage facility operation, flood control management, municipal and power industry, and new energy power generation and grid franchise projects; and financial investment, market operation, port passenger transportation, and other, as well as photovoltaic power generation, and electrochemical energy storage businesses. It also engages in market leasing management; sale of materials; agency sale of tickets; municipal engineering, building construction engineering, power engineering, water conservancy and hydropower engineering, water supply and drainage network construction, water treatment, and gas engineering, and construction of water management; and garbage disposal and sanitation services. The company was formerly known as Zhongshan Public Utilities Science and Technology Company Limited and changed its name to Zhongshan Public Utilities Group Co.,Ltd. in August 2008. Zhongshan Public Utilities Group Co.,Ltd. was founded in 1992 and is headquartered in Zhongshan, China.
Stock analysis
Zhongshan Public Utilities Group Co Ltd (000685) currently trades at ¥10.94, while our model-based Fair Value estimate is ¥14.39, implying the stock looks roughly 24.0% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ¥30.90 per share, and 8 of the 12 models we run sit above the ¥10.94 price.
Bear case: the Multiples group reads lowest at ¥7.86, and 4 of the 12 models stay below the price. Evidence for this calculation is high.
Scenario range: ¥11.10 (bear) to ¥30.48 (bull), the price of ¥10.94 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 42/100 (below-average quality), in the Utilities sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Zhongshan Public Utilities Group Co Ltd reported revenue of 4.6B CNY in FY2025 versus 2.4B CNY in FY2021, a compound +18.1%/yr. Reported net income was 1.9B CNY in FY2025, compounding +6.4%/yr from FY2021.
Key figures
Market cap 16.1B CNY (≈ $2.4B) · P/E ratio 7.4 · P/S ratio 3.03 · EPS (TTM) ¥1.47 · Dividend yield 3.5% · Net margin 40.7% · Return on equity 11.5% · Return on assets (EBIT) 4.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 24% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −42% fair-value upside, at 32%, 000685 screens cheaper than that median.
Fair Value models
All 13 models by family
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Set up alert →Quality Score breakdown
Of which business quality 39 · Market factors (momentum, volatility) 50
Revenue & earnings trend
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Compare Zhongshan Public Utilities Group Co Ltd with another stock
Price, fair value, quality and upside side by side.
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.Utilities - Regulated Water · 65 stocks
Valuation Multiplesvs Utilities - Regulated Water median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Utilities sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Utilities
- Undervalued stocks: Chinese Stocks
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Utilities - Regulated Water stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| American Water Works Company AWK | $133.82 | $65.80 | −51% |
| SBS SBS | $5.39 | $7.68 | +42% |
| Essential Utilities, Inc WTRG | $40.38 | $23.28 | −42% |
| Guangdong Investment Limited 0270 | HK$8.67 | HK$12.82 | +48% |
| Grandblue Environment Co 600323 | ¥28.90 | ¥57.09 | +98% |
| American States Water Company AWR | $84.39 | $38.40 | −54% |
| Chengdu Xingrong Environment Co 000598 | ¥7.06 | ¥9.09 | +29% |
| California Water Service Group CWT | $47.29 | $25.75 | −46% |
| Chongqing Water Group 601158 | ¥3.99 | ¥1.76 | −56% |
| H2O America, through its subsidiaries, HTO | $62.92 | $29.35 | −53% |
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Key figures of Zhongshan Public Utilities Group Co Ltd
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