North Chemical Industries Co (002246) Fair Value & Analysis
Basic Materials · CN · Market cap 11.3B CNY
Analysis
North Chemical Industries Co (002246) currently trades at ¥19.75, while our model-based Fair Value estimate is ¥9.61 — implying the stock looks roughly 51.3% overvalued today. We read business quality at 91/100 (high 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).
About the company
North Chemical Industries Co., Ltd. manufactures and sells nitrocellulose products in China. It also provides industrial pumps and valves, gas masks, filter absorbers, and other products. The company nitrocellulose products are used in propellant, lacquers, inks, celluloid products, adhesives, leather oil, nail polish, etc.; activated carbon and catalyst for use in industrial exhaust and waste water treatment, air purification, decolorization, deodorization, etc.; protective equipment used in labor and special protection, and industrial toxic and hazardous workplace protection; and environmental protection equipment for use in industrial exhaust gas purification and industrial wastewater treatment. It also exports its products to Asia, Europe, North America, and internationally. The company was formerly known as Sichuan Nitrocell Co.,Ltd. North Chemical Industries Co., Ltd. was founded in 2002 and is headquartered in Luzhou, the People's Republic of China.
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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.
Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.