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AnShan Heavy Duty Mining Machinery Co Ltd (002667) Fair Value & Analysis

Industrials · CN · Market cap 4.2B CNY

AH AnShan Heavy Duty Mining Machinery Co Ltd 002667 · SHE
Price¥14.43
Fair Value¥1.45
Upside-90.0%
Quality24/100

Structural break: The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.

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Mixed Growth
Loss-making · -92.4% net margin
Negative equity (buybacks among others) · generates free cash flow
Trails peers (3/11)
Narrow moat 31/100
Evidence: Medium Range ¥0.7140 – ¥1.45 Share as image

Fair value as of: Aug 13, 2026

From 7 valuation models · updated 5 days ago

Share price +63.1% over the past month.

Below-average quality, and screening another 90% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥1.45). The favourable scenario is already priced in.
  • Weak quality (24/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (¥0.7140 to ¥1.45) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥38.85 ¥4.43 Fair Value ¥1.45 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ¥4.43 – ¥38.85 · fair‑value band ¥0.7140 – ¥1.45 · the ¥14.43 price screens above the ¥1.45 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

AnShan Heavy Duty Mining Machinery Co Ltd (002667) currently trades at ¥14.43, while our model-based Fair Value estimate is ¥1.45, implying the stock looks roughly 90.0% overvalued today. The Quality Score stands at 24/100 (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, AnShan Heavy Duty Mining Machinery Co Ltd generated revenue of 404M CNY at a net margin of -92.4%. Revenue grew 136.2% year over year. It earns a return on equity of -84.2%. Net debt stands at 357M CNY. Fundamentals as of Aug 13, 2026

Our scenario range runs from ¥0.7140 (bear case) to ¥1.45 (bull case); at ¥14.43, 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 60% 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 -16% fair-value upside, at -90%, 002667 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 Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ¥0.1900 80
Rev-Margin DCF ¥0.0300 74
Gordon GGM ¥0.8200 ¥1.64 ¥2.48 70
All 7 models by family
DCF Models
FCF DCF ¥0.2300 38
5Y Revenue Exit ¥0.0400 39
10Y Revenue Exit ¥0.0500 36
Dividend Discount
Gordon GGM ¥0.8200 ¥1.64 ¥2.48 70
DDM Multi-Stage ¥0.8200 ¥1.41 ¥1.73 61
Growth DCF
Growth DCF ¥0.1900 80
Rev-Margin DCF ¥0.0300 74

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Key figures & financial health

Revenue (TTM) 404M CNY
Revenue growth (YoY) +136%
Net margin -92.4%
Return on equity -84.2%
Free cash flow 6.0M CNY FY2025
Operating margin 32.4%
More key figures
EPS (TTM) ¥-1.52
EPS growth (YoY) -96.8%
Net debt 357M CNY FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 24/100

Of which business quality 22 · Market factors (momentum, volatility) 23

Profitability 3
Margins and returns on capital today
Quality Growth 20
Are margins and returns improving?
Cashflow 23
Earnings quality: real cash, not paper profit
Fin. Strength 5
Balance sheet, leverage, solvency risk
Investment 87
Disciplined investing over empire-building
Low Volatility 47
Calm price path (market factor)
Momentum 2
Price trend over the last 3–12 months (market factor)
52W Momentum 33
Distance to the 52-week high (market factor)
Net Issuance 23
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

Willing New Energy Co., Ltd. operates in the vibrating screen and PC production line manufacturing industry in China and internationally.

Full company description

Willing New Energy Co., Ltd. operates in the vibrating screen and PC production line manufacturing industry in China and internationally. It is involved in the research, design, manufacture, and sale of industrial and mining vibrating screens comprising linear, circular, high frequency, warm and hot material, and multi-unit combined vibrating screens, as well as feeders, crushers, dry tailings, urban garbage, mixing station, crushing system, and other washing equipment; and provision of after-sales and engineering services. The company also provides lithium ore beneficiation and basic lithium battery raw material lithium salt processing and smelting business. In addition, it offers lepidolite and lithium carbonate, as well as carbonic acid. Further, the company is involved in the research, design, manufacture, sale, and service of mining, construction, and road construction machinery and equipment to coal, construction, metallurgy, mining, and road construction, as well as other heavy asset industries. Additionally, it engages in trading; and sale of lepidolite concentrate, lithium feldspar powder, tantalum niobium concentrate, etc. The company was formerly known as Anshan Heavy Duty Mining Machinery Co., Ltd. and changed its name to Willing New Energy Co., Ltd. in June 2023. Willing New Energy Co., Ltd. was founded in 1994 and is based in Anshan, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

AnShan Heavy Duty Mining Machinery Co Ltd reported revenue of ¥320M in FY2025 versus ¥229M in FY2021, a compound +8.7%/yr. Reported net income was −¥415M in FY2025.

Growth Quality 28/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
320M CNY
Latest YoY
−39.9%
Avg. growth/yr (3Y) 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.
−35.4%
Avg. growth/yr (5Y) 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.
+2.0%
Avg. growth/yr (17Y) 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.
+5.4%
Revenue +8.7%/yr
FY21 ¥229M
FY22 ¥1.2B
FY23 ¥1.1B
FY24 ¥533M
FY25 ¥320M
Net income
FY21 −¥95.9M
FY22 ¥82.0M
FY23 −¥223M
FY24 −¥308M
FY25 −¥415M

002667 screens 90% overvalued. Compare with Caterpillar Inc →

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Cite: Fair Value Calculator (2026). "AnShan Heavy Duty Mining Machinery Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/002667

Peer Group

Farm & Heavy Construction Machinery · 150 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 24 · Bottom 25%
Fair Value upside −90% · Bottom 25%
Return on assets -7% · Bottom 25%
Net margin (TTM) -92% · Bottom 25%
Operating margin (TTM) 32% · Top 25%
Revenue growth 136% · Top 25%
Dividend yield (TTM) 0.6% · Bottom 25%

Valuation Multiples vs Farm & Heavy Construction Machinery median · lower = cheaper

P/S (TTM) 1.56× · Pricier than median
P/FCF 104.7× · Pricier than 75% of peers

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 23
FUTURE 100 · sector 31
PAST 0 · sector 34
HEALTH 100 · sector 93
DIVIDEND 12 · sector 43

VALUE 0: the price sits above our fair-value range.

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

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 Farm & Heavy Construction Machinery stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Caterpillar Inc CAT $855.60 $307.83 -64%
Deere & Company DE $619.77 $182.29 -71%
AB Volvo (publ), VOLVA kr 344.00 kr 288.08 -16%
PACCAR Inc PCAR $131.06 $94.80 -28%
Epiroc AB EPIA kr 254.50 kr 144.14 -43%
Sany Heavy Industry Co 600031 ¥18.91 ¥20.84 +10%
XCMG Construction Machinery Co 000425 ¥8.25 ¥11.79 +43%
Sinotruk (Hong Kong) Limited 3808 HK$41.42 HK$53.57 +29%
Ashok Leyland Limited ASHOKLEY ₹176.40 ₹117.07 -34%
Yutong Bus Co 600066 ¥28.69 ¥42.00 +46%

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Frequently asked questions

Is AnShan Heavy Duty Mining Machinery Co Ltd (002667) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ¥1.45 versus a price of ¥14.43, about −90% (overvalued).
What is the fair value of 002667?
Our model-based fair value for AnShan Heavy Duty Mining Machinery Co Ltd is ¥1.45 (as of Aug 13, 2026), built from audited fundamentals. The current price is ¥14.43.
What is the quality score of 002667?
AnShan Heavy Duty Mining Machinery Co Ltd has a Quality Score of 24/100. 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 AnShan Heavy Duty Mining Machinery Co Ltd (002667)?
AnShan Heavy Duty Mining Machinery Co Ltd reported trailing-twelve-month revenue of about 404M CNY (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 002667?
The net profit margin of AnShan Heavy Duty Mining Machinery Co Ltd is about -92.4%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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