Cangzhou Mingzhu Plastic Co (002108) Fair Value & Analysis

Industrials · CN · Market cap 8.1B CNY

Below-average quality, and screening another 34% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (¥3.56). The favourable scenario is already priced in.
• Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 25, 2026.

How to read this chart

60‑month range ¥2.83 – ¥9.76 · fair‑value band ¥2.14 – ¥3.56 · the ¥4.32 price screens above the ¥2.84 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 25, 2026.

Full chart & analysis →

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Analysis

Cangzhou Mingzhu Plastic Co (002108) currently trades at ¥4.32, while our model-based Fair Value estimate is ¥2.84, implying the stock looks roughly 34.2% overvalued today. The Quality Score stands at 43/100 (below-average quality), in the Industrials 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: medium).

Over the trailing twelve months, Cangzhou Mingzhu Plastic Co generated revenue of 3.0B CNY at a net margin of 5.0%. Revenue grew 20.6% year over year. It earns a return on equity of 2.9%. Net debt stands at 1.4B CNY. Fundamentals as of Jul 25, 2026

Our scenario range runs from ¥2.14 (bear case) to ¥3.56 (bull case); at ¥4.32, 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 33% below its 52-week high and 35% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -14% fair-value upside, at -34%, 002108 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.

Widest divergence: Economic Profit (¥2.10) versus Earnings-Based (¥0.6100). Highest evidence: Residual Income (76).

Key figures & financial health

Quality Score breakdown

About the company

Cangzhou Mingzhu Plastic Co.,Ltd., together with its subsidiaries, manufactures and sells PE pipe systems, BOPA films, Li-ion battery separators, and composite pipes in China.

Full company description

Cangzhou Mingzhu Plastic Co.,Ltd., together with its subsidiaries, manufactures and sells PE pipe systems, BOPA films, Li-ion battery separators, and composite pipes in China. The company offers PE gas and water supply pipelines, PE nuclear power/large diameter thick wall PE pipelines, PE fittings, and ground source heat pump heat exchange piping systems; dry uni-axial stretching, wet simultaneous biaxial stretching, and coated modified separators; and fiber-reinforced thermoplastic pipes for oil and gas transportation, intelligent cable-embedded coiled pipes, and connection of pipes for oil and gas transportation and intelligent cable-embedded continuous pipes. It also produces polyamide films, chips, and other plastic products; installation and technical services; microporous and filtration membranes; double-wall corrugated pipes and fittings for drainage and sewage; silicone pipes and fittings; plastic packaging containers and tools; and synthetic materials. In addition, the company engages in the import and export of goods; house and non-residential real estate leasing; cargo weighing; machinery and equipment rental; equity, asset, and investment management; and research and development of new materials technology. Cangzhou Mingzhu Plastic Co.,Ltd. was founded in 1995 and is headquartered in Cangzhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Cangzhou Mingzhu Plastic Co reported revenue of ¥2.9B in FY2025 versus ¥2.9B in FY2021, a compound −0.3%/yr. Reported net income was ¥154M in FY2025, compounding −19.5%/yr from FY2021.

002108 screens 34% overvalued. Compare with CITIC Limited →

Peer Group

Conglomerates · 370 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 Conglomerates median · lower = cheaper

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: 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.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

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.