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Dongyue Group (0189) Fair Value & Analysis

Basic Materials · HK · Market cap HK$33.1B

DG Dongyue Group 0189 · HK
PriceHK$13.20
Fair ValueHK$15.00
Upside+13.6%
Quality76/100
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Healthy Growth
Solidly profitable · 11.4% net margin
Low debt · generates free cash flow
1.39% dividend yield
Ranks above peers (10/14)
Moderate moat 51/100
Evidence: Medium Range HK$11.25 – HK$18.75 Share as image

Fair value as of: Aug 2, 2026

From 26 valuation models · updated 8 days ago

Fair value updated Aug 2, 2026, revised from HK$18.59 to HK$15.00 (−19.3%) since Jul 1, 2026. Share price −4.1% over the past month.

A strong business, screening 14% undervalued on our models.

What matters now

  • Our model range runs from HK$11.25 (bear) to HK$18.75 (bull), base HK$15.00. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 76/100 (high quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

HK$23.22 HK$4.46 Fair Value HK$15.00 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 2, 2026.

How to read this chart

60‑month range HK$4.46 – HK$23.22 · fair‑value band HK$11.25 – HK$18.75 · the HK$13.20 price screens below the HK$15.00 fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Dongyue Group (0189) currently trades at HK$13.20, while our model-based Fair Value estimate is HK$15.00, implying the stock looks roughly 13.6% undervalued today. The Quality Score stands at 76/100 (high quality), in the Basic Materials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Dongyue Group generated revenue of HK$14.4B at a net margin of 11.4%. Revenue declined 0.4% year over year. It earns a return on equity of 11.6%. The balance sheet holds a net cash position of HK$5.0B. Fundamentals as of Aug 2, 2026

Our scenario range runs from HK$11.25 (bear case) to HK$18.75 (bull case); at HK$13.20, the current price sits within 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 44% below its 52-week high and 43% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -46% fair-value upside, at 14%, 0189 screens cheaper 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 HK$16.45 HK$22.94 HK$32.21 80
Residual Income HK$7.55 HK$8.84 HK$18.33 76
Rev-Margin DCF HK$12.94 HK$18.24 HK$24.34 74
All 26 models by family
DCF Models
FCF DCF HK$16.21 HK$23.52 HK$34.61 38
Owner Earnings HK$11.65 HK$16.45 HK$23.75 31
5Y Revenue Exit HK$12.94 HK$18.14 HK$24.66 39
5Y EBITDA Exit HK$16.64 HK$25.03 HK$34.75 41
5Y P/E Exit HK$14.54 HK$21.12 HK$27.94 38
10Y Revenue Exit HK$13.74 HK$18.76 HK$25.29 36
10Y EBITDA Exit HK$16.36 HK$23.53 HK$32.97 37
10Y P/E Exit HK$15.02 HK$20.82 HK$27.79 35
Earnings-Based
Graham-Dodd HK$6.44 HK$19.70 HK$26.15 54
Lynch FV HK$4.23 HK$6.05 HK$7.86 50
PEG = 1.0 HK$4.23 HK$6.05 HK$7.86 46
EPV HK$13.18 HK$14.90 HK$16.40 59
Dividend Discount
Gordon GGM HK$0.8500 HK$1.77 HK$2.80 70
DDM Multi-Stage HK$0.8500 HK$1.39 HK$1.86 61
Multiples
P/E Multiple HK$12.08 HK$16.11 HK$20.14 63
P/S Multiple HK$9.32 HK$12.43 HK$15.53 58
P/B Multiple HK$12.08 HK$16.11 HK$20.14 55
EV/EBIT HK$16.62 HK$21.19 HK$25.77 53
EV/EBITDA HK$18.61 HK$23.85 HK$29.08 54
EV/Revenue HK$11.60 HK$15.32 HK$19.05 43
Asset-Based
NCAV (Graham) HK$4.15 HK$5.56 HK$8.30 50
Growth DCF
Growth DCF HK$16.45 HK$22.94 HK$32.21 80
Rev-Margin DCF HK$12.94 HK$18.24 HK$24.34 74
Economic Profit
Residual Income HK$7.55 HK$8.84 HK$18.33 76
ROIC Compounder HK$13.90 HK$16.79 HK$20.16 72
Growth Earnings
Growth-Adj P/E HK$10.17 HK$14.53 HK$18.89 68

Widest divergence: DCF Models (HK$20.82) versus Dividend Discount (HK$1.39). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$14.4B
Revenue growth (YoY) -0.4%
Net margin 11.4%
Return on equity 11.6%
Free cash flow HK$2.0B FY2025
P/E ratio 16.9
More key figures
Operating margin 14.6%
EPS (TTM) HK$0.4700
Dividend yield 1.4%
EPS growth (YoY) +69.0%
Net cash HK$5.0B FY2025

Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 76/100

Of which business quality 74 · Market factors (momentum, volatility) 43

Profitability 45
Margins and returns on capital today
Quality Growth 64
Are margins and returns improving?
Cashflow 71
Earnings quality: real cash, not paper profit
Fin. Strength 93
Balance sheet, leverage, solvency risk
Investment 82
Disciplined investing over empire-building
Low Volatility 20
Calm price path (market factor)
Momentum 59
Price trend over the last 3–12 months (market factor)
52W Momentum 41
Distance to the 52-week high (market factor)
Net Issuance 100
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

Dongyue Group Limited, an investment holding company, manufactures, distributes, and sells polymers, organic silicone, refrigerants, dichloromethane, liquid alkali, and other products in the People's Republic of China and internationally.

Full company description

Dongyue Group Limited, an investment holding company, manufactures, distributes, and sells polymers, organic silicone, refrigerants, dichloromethane, liquid alkali, and other products in the People's Republic of China and internationally. It operates through Polymers; Refrigerants; Organic Silicone; Dichloromethane and Liquid Alkali; and Other Operations segments. The company offers polytetrafluoroethylene, methane chloride, anhydrous fluoride, fluorite, silicon rubber, fluoropolymer, ammonium bifluoride, hydrofluoric acid, bromine, and organosilicon materials. It engages in the property development and rental; sale of chemical products; investment and management of fluorosilicone new material industry; research and development of chemical technology; smelting and sale of non-tenuous metal and alloy materials; production and supply of salts, electricity, heat, gas, and water; and provision of sewage disposal and environmental monitoring services, as well as business management consulting services. Dongyue Group Limited was founded in 1987 and is headquartered in Zibo, the People's Republic of China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Dongyue Group reported revenue of HK$14.4B in FY2025 versus HK$15.8B in FY2021, a compound −2.4%/yr. Reported net income was HK$1.6B in FY2025, compounding −5.7%/yr from FY2021.

Growth Quality 80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
HK$14.4B
Latest YoY
+1.2%
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.
−10.5%
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.
+7.4%
Avg. growth/yr (21Y) 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.
+12.6%
Revenue −2.4%/yr
FY21 HK$15.8B
FY22 HK$20.0B
FY23 HK$14.5B
FY24 HK$14.2B
FY25 HK$14.4B
Net income −5.7%/yr
FY21 HK$2.1B
FY22 HK$3.9B
FY23 HK$708M
FY24 HK$811M
FY25 HK$1.6B
Character of growth · EPS growth decomposed (2014-2025) +9.3 % p.a.
Revenue per share +8.5 pp

of which total revenue +7.0 pp · buybacks/dilution +1.5 pp

EBIT margin −0.6 pp
Tax rate +1.1 pp
Residual (interest, one-offs) +0.2 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Dongyue Group Fair Value". https://www.fairvalue-calculator.com/stock/0189

Peer Group

Chemicals · 333 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 76 · Top 25%
Fair Value upside +14% · Top 25%
Return on equity (TTM) 12% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 11% · Top 25%
Operating margin (TTM) 15% · Top 25%
Revenue growth -0% · Below median
Dividend yield (TTM) 1.4% · Above median

Valuation Multiples vs Chemicals median · lower = cheaper

P/E (TTM) 16.9× · Cheaper than median
P/B 2.30× · Pricier than median
P/S (TTM) 2.30× · Pricier than median
P/FCF 2.1× · Pricier than median
EV/EBITDA 7.8× · Cheaper 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 51 · sector 0
FUTURE 0 · sector 20
PAST 46 · sector 19
HEALTH 100 · sector 94
DIVIDEND 28 · sector 27

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 Chemicals stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

Stock Price Fair Value vs Fair Value
BASF SE BASN 1,034 MXN 532.13 MXN -49%
Ningxia Baofeng Energy Group 600989 ¥20.32 ¥20.17 -1%
Zhejiang Juhua Co 600160 ¥42.85 ¥23.35 -46%
PT Barito Pacific Tbk, BRPT 1,690 IDR 1,628 IDR -4%
LG Chem, Ltd 051910 260,500 KRW 587,755 KRW +126%
Formosa Chemicals & Fibre Corporation 1326 66.10 TWD 6.79 TWD -90%
PTT Global Chemical Public Company PTTGC 35.50 THB 18.21 THB -49%
542812 542812 ₹4,369 ₹791.05 -82%
Indorama Ventures Public Company IVL 24.50 THB 17.95 THB -27%
Navin Fluorine International Limited NAVINFLUOR ₹8,650 ₹2,146 -75%

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Frequently asked questions

Is Dongyue Group (0189) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of HK$15.00 versus a price of HK$13.20, about +14% (undervalued).
What is the fair value of 0189?
Our model-based fair value for Dongyue Group is HK$15.00 (as of Aug 2, 2026), built from audited fundamentals. The current price is HK$13.20.
What is the quality score of 0189?
Dongyue Group has a Quality Score of 76/100. 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 Dongyue Group (0189)?
Dongyue Group reported trailing-twelve-month revenue of about HK$14.4B (latest available figure, as of Aug 2, 2026).
What is the net profit margin of 0189?
The net profit margin of Dongyue Group is about 11.4%, meaning it keeps roughly 11.4% of revenue as net income. Based on the latest reported figures.
Does Dongyue Group pay a dividend?
Dongyue Group currently shows a dividend yield of about 1.39% relative to its recent price (as of Aug 2, 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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