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Tieling Newcity Investment Holding Ltd (000809) Fair Value & Analysis

Utilities · CN · Market cap 3.3B CNY (≈ $495M) · ISIN CNE0000000Z9

What is Tieling Newcity Investment Holding Ltd really worth?

TN Tieling Newcity Investment Holding Ltd 000809 · SHE
Price¥3.37
Fair Value¥0.4600
Upside−86.4%
Quality45/100

Below-average quality, and trading another 633% above our fair value of ¥0.4600.

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Risks

!Mixed Growth (revenue 5y +16.1 %/yr)
!Loss-making · -10.1% net margin
!Low debt · negative free cash flow
!Mixed vs. peers (5/11)
!Narrow moat 21/100
!Evidence only low, so the estimate is less certain
!Weak on dividend: 1 out of 100
Evidence: Low Range ¥0.3000 – ¥0.5800

Fair value as of: Aug 26, 2026

From 1 valuation models · updated 9 days ago

Share price +3.7% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (¥0.5800). The favourable scenario is already priced in.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • Solid but not exceptional quality (45/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (¥0.3000 to ¥0.5800) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

¥4.37 ¥1.46 Fair Value ¥0.4600 Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 26, 2026.

How to read this chart

60‑month range ¥1.46 – ¥4.37 · fair‑value band ¥0.3000 – ¥0.5800 · the ¥3.37 price screens above the ¥0.4600 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 26, 2026.

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Analysis

Tieling Newcity Investment Holding Ltd (000809) currently trades at ¥3.37, while our model-based Fair Value estimate is ¥0.4600, implying the stock looks roughly 632.6% overvalued today. The Quality Score stands at 45/100 (below-average quality), in the Utilities sector. How firm this estimate is: it rests on 1 models at a data quality of 94/100, which puts the evidence level at low.

Over the trailing twelve months, Tieling Newcity Investment Holding Ltd generated revenue of 434M CNY at a net margin of −10.1%. It earns a return on equity of −1.7%. The balance sheet holds a net cash position of 1.2B CNY. Fundamentals as of Aug 26, 2026

Our scenario range runs from ¥0.3000 (bear case) to ¥0.5800 (bull case); at ¥3.37, 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 29% below its 52-week high and 21% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at −12% fair-value upside, at −86%, 000809 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
NCAV (Graham) best evidence ¥1.61 ¥2.16 ¥3.22 54
All 1 models by family
Asset-Based
NCAV (Graham) best evidence ¥1.61 ¥2.16 ¥3.22 54

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Key figures & financial health

P/S ratio 7.65 TTM
EPS (TTM) ¥−0.0600
Dividend yield 0.1%
Net margin −17.3% FY2025
Return on equity −1.7% TTM
Return on assets (EBIT) −1.4% avg 5y
More key figures
Profitability
Operating margin 8.9% TTM
Growth
Revenue (TTM) 434M CNY TTM
Revenue growth (YoY) +93.4% 3y avg +17.4%
Balance sheet & cash flow
Free cash flow −304M CNY FY2025
Net cash 1.2B CNY FY2024

Figures from reported company fundamentals · as of Aug 26, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 45/100

Of which business quality 47 · Market factors (momentum, volatility) 46

Profitability 4
Margins and returns on capital today
Quality Growth 21
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 85
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 40
Distance to the 52-week high (market factor)
Net Issuance 82
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Liaoning HeZhan Energy Group Co., Ltd. engages in the manufacture of wind turbine mixing tower equipment and new energy investment and development business in China. It manufactures and sells wind turbine steel-concrete towers and provides wind turbine steel-concrete tower solutions.

Full company description

Liaoning HeZhan Energy Group Co., Ltd. engages in the manufacture of wind turbine mixing tower equipment and new energy investment and development business in China. It manufactures and sells wind turbine steel-concrete towers and provides wind turbine steel-concrete tower solutions. The company is also involved in land development, urban water supply, sewage treatment, taxi service, advertising, and media businesses. In addition, it engages in car rental, new energy development, and construction businesses. The company was formerly known as Tieling Newcity Investment Holding (Group) Limited and changed its name to Liaoning HeZhan Energy Group Co., Ltd. in May 2024. Liaoning HeZhan Energy Group Co., Ltd. was founded in 1996 and is based in Tieling, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Tieling Newcity Investment Holding Ltd reported revenue of 359M CNY in FY2025 versus 114M CNY in FY2021, a compound +33.1%/yr. Reported net income was −61.9M CNY in FY2025.

Growth Quality 24/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
359M CNY
Latest YoY
−6.3%
Avg. revenue 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.
+17.4%
Avg. revenue 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.
+16.1%
Avg. revenue growth/yr (30Y) 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.
+1.6%
Value creation/yr 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
Revenue +33.1%/yr
FY21 114M CNY
FY22 222M CNY
FY23 23.8M CNY
FY24 383M CNY
FY25 359M CNY
Net income
FY21 −142M CNY
FY22 −36.1M CNY
FY23 −106M CNY
FY24 −103M CNY
FY25 −61.9M CNY

000809 screens 633% overvalued. Compare with China Yangtze Power Co →

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Cite: Fair Value Calculator (2026). "Tieling Newcity Investment Holding Ltd Fair Value". https://www.fairvalue-calculator.com/stock/000809

Peer Group

Utilities - Renewable · 219 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 47 · Above median
Fair Value upside −86% · Bottom 25%
Return on assets −1% · Bottom 25%
Net margin (TTM) −10% · Bottom 25%
Operating margin (TTM) 9% · Below median
Revenue growth 93% · Top 25%
Dividend yield (TTM) 0.1% · Bottom 25%
Debt / equity 0.11× · Lower than 75% of peers

Valuation Multiples vs Utilities - Renewable median · lower = cheaper

P/B 0.19× · Cheaper than 75% of peers
P/S (TTM) 1.14× · Cheaper than median

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 7
FUTURE100 · sector 0
PAST0 · sector 11
HEALTH95 · sector 69
DIVIDEND1 · sector 44

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

Similar stocks

10 more Utilities - Renewable stocks, each showing price versus our Fair Value estimate (as of Aug 26, 2026).

Stock Price Fair Value vs Fair Value
China Yangtze Power Co 600900 ¥27.96 ¥25.13 −10%
Ørsted A/S ORSTED kr 139.25 kr 31.40 −77%
Huaneng Lancang River Hydropower Inc 600025 ¥9.79 ¥5.57 −43%
Adani Green Energy Limited ADANIGREEN ₹1,319 ₹169.61 −87%
AXIA Energia SA AXIAP $10.74 $9.49 −12%
VERBUND AG OEWA €57.00 €66.19 +16%
BEPUN BEPUN C$45.05 C$42.83 −5%
BEP BEP $31.27 $70.40 +125%
Fortum Oyj FORTUM €19.80 €13.55 −32%
China Longyuan Power Group 001289 ¥15.92 ¥7.55 −53%

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Frequently asked questions

Is Tieling Newcity Investment Holding Ltd (000809) overvalued or undervalued?
As of Aug 26, 2026, our model estimates a fair value of ¥0.4600 versus a price of ¥3.37, about −86% upside (overvalued).
What is the fair value of 000809?
Our model-based fair value for Tieling Newcity Investment Holding Ltd is ¥0.4600 (as of Aug 26, 2026), built from audited fundamentals. The current price: ¥3.37.
What is the quality score of 000809?
Tieling Newcity Investment Holding Ltd has a Quality Score of 45/100. 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 Tieling Newcity Investment Holding Ltd (000809)?
Tieling Newcity Investment Holding Ltd reported trailing-twelve-month revenue of about 434M CNY (latest available figure, as of Aug 26, 2026).
What is the net profit margin of 000809?
The net profit margin of Tieling Newcity Investment Holding Ltd is about −10.1%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Tieling Newcity Investment Holding Ltd pay a dividend?
Tieling Newcity Investment Holding Ltd currently shows a dividend yield of about 0.07% relative to its recent price (as of Aug 26, 2026).
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