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Zhejiang Jingxing Paper Joint Stock Co (002067) Fair Value & Analysis

Basic Materials · CN · Market cap 6.2B CNY

ZJ Zhejiang Jingxing Paper Joint Stock Co 002067 · SHE
Price¥4.57
Fair Value¥1.06
Upside-76.7%
Quality40/100
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Expensive Growth
Thin margins · 1.6% net margin
Low debt · negative free cash flow
0.24% dividend yield
Trails peers (2/13)
Narrow moat 20/100
Evidence: High Range ¥0.7976 – ¥1.33 Share as image

Fair value as of: Jul 22, 2026

From 16 valuation models · updated 19 days ago

Share price +15.4% over the past month.

Below-average quality, and screening another 77% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥1.33). The favourable scenario is already priced in.
  • Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

¥7.14 ¥2.36 Fair Value ¥1.06 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.

How to read this chart

60‑month range ¥2.36 – ¥7.14 · fair‑value band ¥0.7976 – ¥1.33 · the ¥4.57 price screens above the ¥1.06 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 22, 2026.

Full chart & analysis →

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Analysis

Zhejiang Jingxing Paper Joint Stock Co (002067) currently trades at ¥4.57, while our model-based Fair Value estimate is ¥1.06, implying the stock looks roughly 76.7% overvalued today. The Quality Score stands at 40/100 (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: high).

Over the trailing twelve months, Zhejiang Jingxing Paper Joint Stock Co generated revenue of 6.3B CNY at a net margin of 1.6%. Revenue grew 20.2% year over year. It earns a return on equity of 1.6%. Net debt stands at 412M CNY. Fundamentals as of Jul 22, 2026

Our scenario range runs from ¥0.7976 (bear case) to ¥1.33 (bull case); at ¥4.57, 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 41% below its 52-week high and 32% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at 10% fair-value upside, at -77%, 002067 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 BearBaseBull Evidence
Highest evidence
Residual Income ¥3.04 ¥2.85 ¥2.00 76
ROIC Compounder ¥1.23 ¥1.35 ¥1.46 72
Gordon GGM ¥0.3000 ¥0.5900 ¥0.9000 70
All 16 models by family
Earnings-Based
Graham-Dodd ¥0.2600 ¥0.7000 ¥0.9200 54
Lynch FV ¥0.1400 ¥0.2000 ¥0.2600 50
PEG = 1.0 ¥0.1400 ¥0.2000 ¥0.2600 46
EPV ¥1.23 ¥1.35 ¥1.46 59
Dividend Discount
Gordon GGM ¥0.3000 ¥0.5900 ¥0.9000 70
DDM Multi-Stage ¥0.3000 ¥0.4600 ¥0.6200 61
Multiples
P/E Multiple ¥0.4800 ¥0.6400 ¥0.8000 63
P/S Multiple ¥0.4800 ¥0.6400 ¥0.8000 58
P/B Multiple ¥0.4800 ¥0.6400 ¥0.8000 55
EV/EBIT ¥1.45 ¥1.78 ¥2.11 53
EV/EBITDA ¥2.88 ¥3.68 ¥4.49 54
EV/Revenue ¥1.32 ¥1.69 ¥2.05 43
Asset-Based
NCAV (Graham) ¥2.26 ¥3.03 ¥4.52 50
Economic Profit
Residual Income ¥3.04 ¥2.85 ¥2.00 76
ROIC Compounder ¥1.23 ¥1.35 ¥1.46 72
Growth Earnings
Growth-Adj P/E ¥0.3900 ¥0.5500 ¥0.7200 68

Widest divergence: Asset-Based (¥3.03) versus Earnings-Based (¥0.2000). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 6.3B CNY
Revenue growth (YoY) +20.2%
Net margin 1.6%
Return on equity 1.6%
Free cash flow −648M CNY FY2025
P/E ratio 60.1
More key figures
Operating margin 1.5%
EPS (TTM) ¥0.0700
Dividend yield 0.2%
EPS growth (YoY) -54.7%
Net debt 412M CNY FY2025

Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 40/100

Of which business quality 40 · Market factors (momentum, volatility) 41

Profitability 22
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 7
Earnings quality: real cash, not paper profit
Fin. Strength 68
Balance sheet, leverage, solvency risk
Investment 66
Disciplined investing over empire-building
Low Volatility 57
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 38
Distance to the 52-week high (market factor)
Net Issuance 43
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

Zhejiang Jingxing Paper Joint Stock Co., Ltd. engages in the production and sale of paper products in China and internationally. The company offers kraft liner boards, white top linerboards, bobbin base papers, corrugated base papers, virgin pulp thissue paper, recycled tissue paper, corrugated cardboards, paper boxes, and other specialty papers.

Full company description

Zhejiang Jingxing Paper Joint Stock Co., Ltd. engages in the production and sale of paper products in China and internationally. The company offers kraft liner boards, white top linerboards, bobbin base papers, corrugated base papers, virgin pulp thissue paper, recycled tissue paper, corrugated cardboards, paper boxes, and other specialty papers. It also offers household paper products under the Jingxing brand name. The company was founded in 1984 and is headquartered in Pinghu, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Zhejiang Jingxing Paper Joint Stock Co reported revenue of ¥6.0B in FY2025 versus ¥6.2B in FY2021, a compound −0.9%/yr. Reported net income was ¥55.5M in FY2025, compounding −40.5%/yr from FY2021.

Growth Quality 35/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
6.0B CNY
Latest YoY
+9.7%
Avg. growth/yr (3Y)
−1.2%
Avg. growth/yr (5Y)
+4.3%
Avg. growth/yr (22Y)
+10.0%
Revenue −0.9%/yr
FY21 ¥6.2B
FY22 ¥6.2B
FY23 ¥5.5B
FY24 ¥5.5B
FY25 ¥6.0B
Net income −40.5%/yr
FY21 ¥441M
FY22 ¥118M
FY23 ¥91.6M
FY24 ¥71.3M
FY25 ¥55.5M

002067 screens 77% overvalued. Compare with Klabin S.A →

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Cite: Fair Value Calculator (2026). "Zhejiang Jingxing Paper Joint Stock Co Fair Value". https://www.fairvalue-calculator.com/stock/002067

Peer Group

Paper & Paper Products · 113 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 40 · Below median
Fair Value upside −80% · Bottom 25%
Return on equity (TTM) 2% · Below median
Return on assets 1% · Below median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 2% · Below median
Revenue growth 20% · Top 25%
Dividend yield (TTM) 0.2% · Bottom 25%
Debt / equity 0.08× · Lower than median

Valuation Multiples vs Paper & Paper Products median · lower = cheaper

P/E (TTM) 60.1× · Pricier than 75% of peers
P/B 0.93× · Pricier than median
P/S (TTM) 0.99× · Pricier than median
EV/EBITDA 11.5× · Pricier 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 0 · sector 20
FUTURE 100 · sector 7
PAST 7 · sector 12
HEALTH 96 · sector 91
DIVIDEND 5 · sector 41

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 Paper & Paper Products stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
Klabin S.A KLBN11 R$17.58 R$3.89 -78%
UPM-Kymmene Oyj UPM €23.45 €15.47 -34%
Suzano S.A SUZB3 R$41.70 R$138.01 +231%
Svenska Cellulosa Aktiebolaget SCA (publ) SCAB kr 103.00 kr 49.40 -52%
Shandong Sunpaper Co 002078 ¥14.13 ¥17.29 +22%
Holmen AB HOLMB kr 305.40 kr 217.72 -29%
Nine Dragons Paper (Holdings) Limited 2689 HK$7.55 HK$8.73 +16%
Empresas CMPC S.A CMPC 1,078 CLP 1,269 CLP +18%
Xianhe Co 603733 ¥22.05 ¥24.32 +10%
Billerud AB BILL kr 68.70 kr 48.60 -29%

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Frequently asked questions

Is Zhejiang Jingxing Paper Joint Stock Co (002067) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of ¥1.06 versus a price of ¥4.57, about −77% (overvalued).
What is the fair value of 002067?
Our model-based fair value for Zhejiang Jingxing Paper Joint Stock Co is ¥1.06 (as of Jul 22, 2026), built from audited fundamentals. The current price is ¥4.57.
What is the quality score of 002067?
Zhejiang Jingxing Paper Joint Stock Co has a Quality Score of 40/100. 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 Zhejiang Jingxing Paper Joint Stock Co (002067)?
Zhejiang Jingxing Paper Joint Stock Co reported trailing-twelve-month revenue of about 6.3B CNY (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 002067?
The net profit margin of Zhejiang Jingxing Paper Joint Stock Co is about 1.6%, meaning it keeps roughly 1.6% of revenue as net income. Based on the latest reported figures.
Does Zhejiang Jingxing Paper Joint Stock Co pay a dividend?
Zhejiang Jingxing Paper Joint Stock Co currently shows a dividend yield of about 0.24% relative to its recent price (as of Jul 22, 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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