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Jiangxi Black Cat Carbon Black (002068) fair value: what the stock is really worth

As of Nov 13, 2026: fair value (intrinsic value) of Jiangxi Black Cat Carbon Black stock ¥6.57, price ¥7.16, that is 8.2% below the price, quality 34 out of 100. Rating: fairly valued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Basic Materials CN · ISIN CNE000001NQ3

JB Jiangxi Black Cat Carbon Black logo Thin data Nov 15, 2026

Jiangxi Black Cat Carbon Black

002068 · SHE

The stock is already about fairly priced, weak company and falling price: meets none of the 3 rules.

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Low debt 
Revenue last quarter +23% vs. a year ago. 
Fair value ¥6.57 · Fairly valued 
Quality 34/100 
Falling price (downtrend) 
Weak Growth (revenue 3y −4.2 %/yr in CNY) 
Loss-making · -4.5% net margin (TTM) 
Negative free cash flow 
Trails peers (5/13) 
Narrow moat 10/100
Thin data 
⟳ CyclicalEstimate
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

¥22.90 ¥5.25 Fair Value ¥6.57 Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 15, 2026.

How to read this chart

60‑month range ¥5.25 – ¥22.90 · fair‑value band ¥4.93 – ¥8.22 · the ¥7.16 price screens above the ¥6.57 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 15, 2026.

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Company profile

Jiangxi Black Cat Carbon Black Inc.,Ltd, together with its subsidiaries, manufactures and sells carbon black products in China. It operates through Carbon Black, Tar Refining, and Other segments.

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The company offers carbon black for rubber, special carbon black, green carbon black, precipitated and fumed silica, and chemical products; and tar refining and white carbon black products.

It is also involved in power generation, transmission, distribution, and supply; energy conservation and environmental protection consultation, renovation, and installation; research, development, production, testing, and consulting on carbon composites and nanomaterials; and carbon black exhaust gas waste heat power generation.

In addition, the company offers carbon black oil; chemical raw materials; hazardous chemicals; consulting services; graphite products; pigments; batteries; fiber, composite, and synthetic materials; and rubber products. It exports its products.

The company was founded in 1994 and is headquartered in Jingdezhen, China.

Stock analysis

Jiangxi Black Cat Carbon Black (002068) currently trades at ¥7.16, while our estimate is ¥6.57, so the stock looks roughly fairly valued today (gap 8.9%).

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: ¥4.93 (bear) to ¥8.22 (bull), the price of ¥7.16 sits inside 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 34/100 (below-average quality), in the Basic Materials sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Jiangxi Black Cat Carbon Black reported revenue of 8.7B CNY in FY2025 versus 7.9B CNY in FY2021, a compound +2.3%/yr. Reported net income was −463M CNY in FY2025.

Key figures

Market cap 5.3B CNY (≈ $790M) Small · P/S ratio 0.57 · EPS (TTM) ¥−0.5700 · Dividend yield 1.7% · Net margin −4.5% · Return on equity −15.0% · Return on assets (EBIT) 0.5% (5-year average) · Operating margin −2.4%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 10 out of 100 (medium confidence).

What moves the price

The share trades about 53% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −42% fair-value upside, at −8%, 002068 screens cheaper than that median.

Fair Value

Bear ¥4.93 Fair Value ¥6.57 Bull ¥8.22
Price ¥7.16 · Downside -8.2%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 34/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 17
How much profit the company makes from its sales and capital
Quality Growth 4
Are margins and returns getting better?
Cashflow 8
Do the profits arrive as real cash?
Financial strength 29
Debt, balance sheet and risk of trouble
Investment 99
Does it invest with discipline instead of growing at any price?
Low Volatility 35
How calm the share price moves, does not count
Price momentum 21
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 2
Distance to the 52-week high, does not count
New shares 86
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 27/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−14.3%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−4.2%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+9.3%
Start year 2020 (pandemic). Over 10 years: +6.1% a year
Revenue growth 22 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+17.8%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
2.0% (2020) → −2.9% (2025)
What shareholders gained per year ⓘ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

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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.Specialty Chemicals · 757 stocks

Beats the industry median on 5/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 34 · Bottom 25%
Fair Value upside −8.2% · Above median
Profitability
Return on assets −5.9% · Bottom 25%
Net margin (12 months) −4.5% · Bottom 25%
Operating margin (12 months) −2.4% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 22.8% · Above median
Dividend yield (12 months) 1.7% · Above median
Balance sheet
Debt / equity 0.13× · Above median

Valuation Multiplesvs Specialty Chemicals median · lower = cheaper

P/B 2.17× · Pricier than median
P/S (12 months) 0.57× · Cheapest 25%
EV/EBITDA 48.8× · Priciest 25%
PEG 0.26× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)22 · sector 4
FUTURE (revenue growth)100 · sector 68
PAST (return on equity)0 · sector 25
HEALTH (low debt)94 · sector 95
DIVIDEND (yield)35 · sector 30

Context: sector, industry, market

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 Specialty Chemicals stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Wanhua Chemical Group 600309 ¥68.09 ¥68.03 +0% vs 002068
Linde plc LIN $526.06 $446.62 −15% vs 002068
PPG Industries, Inc PPG $122.56 $77.68 −37% vs 002068
DSM-Firmenich AG DSFIR CHF 97.75 CHF 58.28 −40% vs 002068
Asian Paints Limited ASIANPAINT ₹2,550 ₹1,479 −42% vs 002068
The Sherwin-Williams Company SHW $349.89 $152.59 −56% vs 002068
Givaudan SA GIVN CHF 4,090 CHF 1,629 −60% vs 002068
EMS-CHEMIE HOLDING AG EMSN CHF 846.50 CHF 284.63 −66% vs 002068
Ecolab Inc ECL $309.27 $97.18 −69% vs 002068
Air Products and Chemicals, Inc APD $316.53 $75.33 −76% vs 002068

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Jiangxi Black Cat Carbon Black: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Jiangxi Black Cat Carbon Black Fair Value". https://www.fairvalue-calculator.com/stock/002068

Frequently asked questions

Is Jiangxi Black Cat Carbon Black (002068) overvalued or undervalued?
As of Nov 15, 2026, our estimate of fair value is ¥6.57 versus a price of ¥7.16, about 8% lower (fairly valued).
What is the fair value of 002068?
Our estimate for Jiangxi Black Cat Carbon Black is ¥6.57 (as of Nov 15, 2026), built from audited fundamentals. The current price: ¥7.16.
What is the quality score of 002068?
Jiangxi Black Cat Carbon Black has a Quality Score of 34/100. 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 price target for Jiangxi Black Cat Carbon Black (002068)?
Our calculated price target is the estimate of ¥6.57 (as of Nov 15, 2026). Cautious scenario ¥4.93, optimistic scenario ¥8.22. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Jiangxi Black Cat Carbon Black stock forecast for 2026?
Our estimate puts fair value at ¥6.57, about 8% lower versus a price of ¥7.16 (fairly valued). Cautious scenario ¥4.93, optimistic scenario ¥8.22. The calculation is refreshed regularly with new filings.
What is the revenue of Jiangxi Black Cat Carbon Black (002068)?
Jiangxi Black Cat Carbon Black reported trailing-twelve-month revenue of about 9.3B CNY (latest available figure, as of Nov 15, 2026).
Does Jiangxi Black Cat Carbon Black pay a dividend?
Jiangxi Black Cat Carbon Black currently shows a dividend yield of 1.74% relative to its recent price (as of Nov 15, 2026).
How much is the dividend of Jiangxi Black Cat Carbon Black (002068)?
Jiangxi Black Cat Carbon Black has a dividend yield of 1.7%.
What is the intrinsic value of Jiangxi Black Cat Carbon Black (002068)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Jiangxi Black Cat Carbon Black it is ¥6.57 per share (as of Nov 15, 2026), against a price of ¥7.16.
Is Jiangxi Black Cat Carbon Black stock overvalued or undervalued in 2026?
As of Nov 15, 2026, 002068 trades above its calculated fair value: price ¥7.16, fair value ¥6.57, a gap of about −8% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 002068?
No. The price is what the market pays today (¥7.16); the fair value is what the company's own numbers justify (¥6.57). For Jiangxi Black Cat Carbon Black the two are ¥0.5900 per share apart. That gap is exactly why we show both numbers side by side.
How much is Jiangxi Black Cat Carbon Black worth?
The market values Jiangxi Black Cat Carbon Black at about 5.3B CNY (market capitalisation, as of Nov 15, 2026). Per share that is ¥7.16; our models calculate a fair value of ¥6.57 per share.
What do the bullish and bearish scenarios say about 002068?
Our models span a range for Jiangxi Black Cat Carbon Black: cautious scenario ¥4.93, base ¥6.57, optimistic ¥8.22 per share (as of Nov 15, 2026, price ¥7.16). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of 002068?
The PEG ratio of Jiangxi Black Cat Carbon Black is 0.26 (P/E divided by earnings growth, as of Nov 15, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Jiangxi Black Cat Carbon Black (002068)?
Balance-sheet figures for Jiangxi Black Cat Carbon Black (as of Nov 15, 2026): return on equity −15.0%, debt of 0.13 per unit of equity. They feed the Quality Score of 34/100, which measures business quality independently of the share price.
How far is 002068 from its 52-week high?
Jiangxi Black Cat Carbon Black trades at ¥7.16, about 53% below its 52-week high of ¥15.31 and 1% above the low of ¥7.08 (as of Nov 13, 2026). Distance from the high says nothing about value: that is what the fair value of ¥6.57 is for.
Which stocks are comparable to Jiangxi Black Cat Carbon Black?
From the same area (Basic Materials) we also value Linde plc, Ecolab Inc, The Sherwin-Williams Company, Air Products and Chemicals, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Jiangxi Black Cat Carbon Black stock attractive at the current price?
The data as of Nov 15, 2026: price ¥7.16, calculated fair value ¥6.57 (−8%), Quality Score 34/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1% above its aggregate fair value. Jiangxi Black Cat Carbon Black itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Jiangxi Black Cat Carbon Black (002068)?
The closing price on Nov 13, 2026 was ¥7.16. Our estimate is ¥6.57, about 8% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Jiangxi Black Cat Carbon Black right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Jiangxi Black Cat Carbon Black

How large is the market capitalisation of Jiangxi Black Cat Carbon Black (002068)?
The market capitalisation of Jiangxi Black Cat Carbon Black is 5.3B CNY (≈ $790M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Jiangxi Black Cat Carbon Black (002068)?
The price-to-sales ratio of Jiangxi Black Cat Carbon Black is 0.57 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Jiangxi Black Cat Carbon Black (002068)?
Earnings per share at Jiangxi Black Cat Carbon Black are ¥−0.5700. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Jiangxi Black Cat Carbon Black (002068)?
The dividend yield of Jiangxi Black Cat Carbon Black is 1.7%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Jiangxi Black Cat Carbon Black (002068)?
The net margin of Jiangxi Black Cat Carbon Black is −4.5% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Jiangxi Black Cat Carbon Black (002068)?
The return on equity (ROE) of Jiangxi Black Cat Carbon Black is −15.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Jiangxi Black Cat Carbon Black (002068)?
On an EBIT basis the return on assets of Jiangxi Black Cat Carbon Black is 0.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Jiangxi Black Cat Carbon Black (002068)?
The operating margin of Jiangxi Black Cat Carbon Black is −2.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Jiangxi Black Cat Carbon Black (002068)?
Revenue at Jiangxi Black Cat Carbon Black is growing 22.8% versus a year earlier (3y avg −4.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Jiangxi Black Cat Carbon Black (002068)?
Earnings per share at Jiangxi Black Cat Carbon Black are down 58.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Jiangxi Black Cat Carbon Black (002068) generate?
The free cash flow of Jiangxi Black Cat Carbon Black is −220M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Jiangxi Black Cat Carbon Black (002068) carry?
The net debt of Jiangxi Black Cat Carbon Black is 2.3B CNY (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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