Poly Union Chemical Holding (002037) Fair Value & Analysis
Basic Materials · CN · Market cap 3.3B CNY
Fair value as of: Jul 21, 2026
From 4 valuation models · updated 20 days ago
Fair value updated Jul 21, 2026, revised from ¥6.81 to ¥3.04 (−55.4%) since Jun 25, 2026. Share price +26.7% over the past month.
Below-average quality, and screening another 60% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (¥3.04). The favourable scenario is already priced in.
- Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Price vs Fair Value (5 years)
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 ¥4.81 – ¥19.19 · fair‑value band ¥2.26 – ¥3.04 · the ¥7.69 price screens above the ¥3.04 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 21, 2026.
Analysis
Poly Union Chemical Holding (002037) currently trades at ¥7.69, while our model-based Fair Value estimate is ¥3.04, implying the stock looks roughly 60.5% overvalued today. The Quality Score stands at 37/100 (below-average 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: low).
Trailing-twelve-month revenue stands at 6.9B CNY. Revenue declined 20.2% year over year. It earns a return on equity of -1.9%. Net debt stands at 3.9B CNY. Fundamentals as of Jul 21, 2026
Our scenario range runs from ¥2.26 (bear case) to ¥3.04 (bull case); at ¥7.69, 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 54% below its 52-week high and 15% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at -60%, 002037 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.
All 4 models by family
Widest divergence: Multiples (¥3.63) versus Asset-Based (¥1.52). Highest evidence: EV/EBITDA (54).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 33 · Market factors (momentum, volatility) 28
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
Poly Union Chemical Holding Group Co., Ltd. engages in the research and development, design, blasting, production, sale, distribution, and engineering and technical service of civil explosive equipment products in China. It offers industrial explosives, detonators, detonating cords, and personalized civil explosive products.
Full company description
Poly Union Chemical Holding Group Co., Ltd. engages in the research and development, design, blasting, production, sale, distribution, and engineering and technical service of civil explosive equipment products in China. It offers industrial explosives, detonators, detonating cords, and personalized civil explosive products. The company also engages in demolition works; transportation of dangerous goods and general cargo; and ecological protection and environmental management business, as well as provision of blasting technology development and technical consulting services. Its products are used in mining, water conservancy and hydropower, infrastructure construction, urban reconstruction and National defense construction, and other fields. Poly Union Chemical Holding Group Co., Ltd. was formerly known as Guizhou Jiulian Industrial Explosive Material Development Co., Ltd. and changed its name to Poly Union Chemical Holding Group Co., Ltd. in December 2019. The company was founded in 2002 and is headquartered in Guiyang, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Poly Union Chemical Holding reported revenue of ¥6.7B in FY2025 versus ¥6.0B in FY2021, a compound +2.6%/yr. Reported net income was −¥849M in FY2025.
002037 screens 60% overvalued. Compare with Linde plc →
Peer Group
Specialty Chemicals · 676 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.
Valuation Multiples vs Specialty Chemicals median · lower = cheaper
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
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 Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Linde plc LIN | $489.98 | $222.03 | -55% |
| Nan Ya Plastics Corporation 1303 | 181.50 TWD | 255.83 TWD | +41% |
| Wanhua Chemical Group 600309 | ¥70.04 | ¥68.03 | -3% |
| Novozymes A/S NSISB | kr 428.20 | kr 179.66 | -58% |
| Asian Paints Limited ASIANPAINT | ₹2,689 | ₹668.81 | -75% |
| Solar Industries India Limited SOLARINDS | ₹18,236 | ₹2,793 | -85% |
| Pidilite Industries Limited PIDILITIND | ₹1,560 | ₹351.84 | -77% |
| PT Chandra Asri Pacific Tbk TPIA | 1,805 IDR | 2,888 IDR | +60% |
| Linde India Limited LINDEINDIA | ₹7,115 | ₹757.93 | -89% |
| Berger Paints India Limited BERGEPAINT | ₹493.70 | ₹164.29 | -67% |
Compare Poly Union Chemical Holding with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Basic Materials stocks →
Frequently asked questions
Is Poly Union Chemical Holding (002037) overvalued or undervalued?
What is the fair value of 002037?
What is the quality score of 002037?
What is the revenue of Poly Union Chemical Holding (002037)?
What is the net profit margin of 002037?
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.
Track Poly Union Chemical Holding and try Pro for 14 days
One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.
Zero risk: nothing is ever charged. After 14 days you decide whether to stay.