Shenzhen Nanshan Power Co Ltd (200037) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of Shenzhen Nanshan Power Co Ltd HK$4.28, price HK$2.24, upside +91.1%, quality 54 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 2, 2026.
How to read this chart
60‑month range HK$1.50 – HK$3.92 · fair‑value band HK$2.99 – HK$5.56 · the HK$2.24 price screens below the HK$4.28 fair value. Dashed = 300-day average. As of Oct 2, 2026.
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Shenzhen Nanshan Power Co., Ltd., together with its subsidiaries, engages in the power and heat generation business in China. It operates through three segments: Power Generation and Sales, Integrated Energy Services, and Other.
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Shenzhen Nanshan Power Co., Ltd., together with its subsidiaries, engages in the power and heat generation business in China. It operates through three segments: Power Generation and Sales, Integrated Energy Services, and Other. The company is involved in technical consulting services for the construction of gas-steam combined-cycle power plants; and gas turbine power generation, waste heat power generation, and power and heat supply. It also offers maintenance and overhaul of operating equipment for gas-steam combined cycle power plants; import and export of goods and technology; and leasing of terminals, oil depots, and power equipment facilities, as well as land use rights and leasing of nonresidential real estate properties. Shenzhen Nanshan Power Co., Ltd. was incorporated in 1990 and is headquartered in Shenzhen, China.
Stock analysis
Shenzhen Nanshan Power Co Ltd (200037) currently trades at HK$2.24, while our model-based Fair Value estimate is HK$4.28, implying the stock looks roughly 47.7% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of HK$4.28 per share, and 5 of the 10 models we run sit above the HK$2.24 price.
Bear case: the Multiples group reads lowest at HK$1.95, and 5 of the 10 models stay below the price. Evidence for this calculation is low.
Scenario range: HK$2.99 (bear) to HK$5.56 (bull), the price of HK$2.24 sits below 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 54/100 (solid quality), in the Utilities sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Shenzhen Nanshan Power Co Ltd reported revenue of 402M CNY in FY2025 versus 757M CNY in FY2021, a compound −14.7%/yr. Reported net income was 161M CNY in FY2025.
Key figures
Market cap HK$1.7B (≈ $220M) · P/E ratio 7.9 · P/S ratio 3.18 · EPS (TTM) HK$0.3600 · Dividend yield 0.2% · Net margin 40.1% · Return on equity 17.5% · Return on assets (EBIT) −4.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 21% below its 52-week high and 20% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −31% fair-value upside, at 91%, 200037 screens cheaper than that median.
Fair Value models
Bear HK$2.99Fair Value HK$4.28Bull HK$5.56
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (HK$0.2722 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
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.18/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−9.3%
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.
−16.7%
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.
−16.4%
Start year 2020 (pandemic). Over 10 years: −11.4% a year
Revenue growth 10 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.
−11.4%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
≈ +29.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+29.4%
Dividend (yield on the price)0.2%
Profit margin 2020 to 2025 ⓘ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.8% → −3%
⚠ Revenue per share shrinking 21.4%/yr over ~6Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
⚠ Approximate: the rate leans on 2025, which sits 1,136% above its own trend.
Compare Shenzhen Nanshan Power Co Ltd with another stock
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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.Utilities - Regulated Electric · 155 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score54 · Top 25%
Fair Value upside−72.0% · Bottom 25%
Profitability
Return on equity (TTM)17.5% · Top 25%
Return on assets−0.3% · Bottom 25%
Net margin (TTM)42.8% · Top 25%
Operating margin (TTM)21.0% · Above median
Growth and dividend
Revenue growth54.2% · Top 25%
Dividend yield (TTM)0.2% · Bottom 25%
Balance sheet
Debt / equity0.10× · Lowest 25%
Valuation Multiplesvs Utilities - Regulated Electric median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Shenzhen Nanshan Power Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/200037
Frequently asked questions
Is Shenzhen Nanshan Power Co Ltd (200037) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of HK$4.28 versus a price of HK$2.24, about +91% upside (undervalued).
What is the fair value of 200037?
Our model-based fair value for Shenzhen Nanshan Power Co Ltd is HK$4.28 (as of Oct 2, 2026), built from audited fundamentals. The current price: HK$2.24.
What is the quality score of 200037?
Shenzhen Nanshan Power Co Ltd has a Quality Score of 54/100. 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 Shenzhen Nanshan Power Co Ltd (200037)?
Our model-based price target is the fair value of HK$4.28 (as of Oct 2, 2026) from 10 valuation models. Cautious scenario HK$2.99, optimistic scenario HK$5.56. It is a calculation from audited fundamentals, not an analyst target.
What is the Shenzhen Nanshan Power Co Ltd stock forecast for 2026?
Our models put fair value at HK$4.28, about +91% upside versus a price of HK$2.24 (undervalued). Cautious scenario HK$2.99, optimistic scenario HK$5.56. The calculation is refreshed regularly with new filings.
What is the revenue of Shenzhen Nanshan Power Co Ltd (200037)?
Shenzhen Nanshan Power Co Ltd reported trailing-twelve-month revenue of about 433M CNY (latest available figure, as of Oct 2, 2026).
Does Shenzhen Nanshan Power Co Ltd pay a dividend?
Shenzhen Nanshan Power Co Ltd currently shows a dividend yield of about 0.19% relative to its recent price (as of Oct 2, 2026).
What is the intrinsic value of Shenzhen Nanshan Power Co Ltd (200037)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Shenzhen Nanshan Power Co Ltd it is HK$4.28 per share (as of Oct 2, 2026), against a price of HK$2.24. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is Shenzhen Nanshan Power Co Ltd stock overvalued or undervalued in 2026?
As of Oct 2, 2026, 200037 trades below its calculated fair value: price HK$2.24, fair value HK$4.28, a gap of about +91% (undervalued). 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 200037?
No. The price is what the market pays today (HK$2.24); the fair value is what the company's own numbers justify (HK$4.28). For Shenzhen Nanshan Power Co Ltd the two are HK$2.04 per share apart. That gap is exactly why we show both numbers side by side.
How much is Shenzhen Nanshan Power Co Ltd worth?
The market values Shenzhen Nanshan Power Co Ltd at about HK$1.7B (market capitalisation, as of Oct 2, 2026). Per share that is HK$2.24; our models calculate a fair value of HK$4.28 per share.
What do the bullish and bearish scenarios say about 200037?
Our models span a range for Shenzhen Nanshan Power Co Ltd: cautious scenario HK$2.99, base HK$4.28, optimistic HK$5.56 per share (as of Oct 2, 2026, price HK$2.24). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 200037?
Shenzhen Nanshan Power Co Ltd trades at a price-to-earnings ratio of 7.9 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$4.28 is built from several models across several years. Other multiples: PEG 30.6, P/B 0.9, P/S 3.4, EV/EBITDA 86.2.
What is the PEG ratio of 200037?
The PEG ratio of Shenzhen Nanshan Power Co Ltd is 30.62 (P/E divided by earnings growth, as of Oct 2, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Shenzhen Nanshan Power Co Ltd (200037)?
Balance-sheet figures for Shenzhen Nanshan Power Co Ltd (as of Oct 2, 2026): return on equity 17.5%, debt of 0.10 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is 200037 from its 52-week high?
Shenzhen Nanshan Power Co Ltd trades at HK$2.24, about 21% below its 52-week high of HK$2.85 and 20% above the low of HK$1.87 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of HK$4.28 is for.
Which stocks are comparable to Shenzhen Nanshan Power Co Ltd?
From the same area (Utilities) we also value NextEra Energy, Inc, The Southern Company, Duke Energy Corporation, American Electric Power Company, 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 Shenzhen Nanshan Power Co Ltd stock attractive at the current price?
The data as of Oct 2, 2026: price HK$2.24, calculated fair value HK$4.28 (+91%), Quality Score 54/100, from 10 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 200037 calculated?
We run Shenzhen Nanshan Power Co Ltd through 10 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of HK$4.28, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Shenzhen Nanshan Power Co Ltd currently trades 48 % below its own fair value, and the market average says nothing about that. 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 Shenzhen Nanshan Power Co Ltd (200037)?
The closing price on Sep 30, 2026 was HK$2.24. Our model-based fair value is HK$4.28, about +91% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Shenzhen Nanshan Power Co Ltd right now?
The price is below even our cautious bear case (HK$2.99). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (HK$2.99 to HK$5.56) leaves room in how you read the outcome.
Key figures of Shenzhen Nanshan Power Co Ltd
How large is the market capitalisation of Shenzhen Nanshan Power Co Ltd (200037)?
The market capitalisation of Shenzhen Nanshan Power Co Ltd is HK$1.7B (≈ $220M). 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 Shenzhen Nanshan Power Co Ltd (200037)?
The price-to-sales ratio of Shenzhen Nanshan Power Co Ltd is 3.18 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Shenzhen Nanshan Power Co Ltd (200037)?
Earnings per share at Shenzhen Nanshan Power Co Ltd are HK$0.3600 (price ÷ EPS = P/E 7.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Shenzhen Nanshan Power Co Ltd (200037)?
The dividend yield of Shenzhen Nanshan Power Co Ltd is 0.2% (payout 1.2%). 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 Shenzhen Nanshan Power Co Ltd (200037)?
The net margin of Shenzhen Nanshan Power Co Ltd is 40.1% (fiscal year 2025). 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 Shenzhen Nanshan Power Co Ltd (200037)?
The return on equity (ROE) of Shenzhen Nanshan Power Co Ltd is 17.5% (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 Shenzhen Nanshan Power Co Ltd (200037)?
On an EBIT basis the return on assets of Shenzhen Nanshan Power Co Ltd is −4.6% (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 Shenzhen Nanshan Power Co Ltd (200037)?
The operating margin of Shenzhen Nanshan Power Co Ltd is 21.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Shenzhen Nanshan Power Co Ltd (200037)?
Revenue at Shenzhen Nanshan Power Co Ltd is growing +54.2% versus a year earlier (3y avg −16.7%). 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 Shenzhen Nanshan Power Co Ltd (200037)?
Earnings per share at Shenzhen Nanshan Power Co Ltd are growing +169% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Shenzhen Nanshan Power Co Ltd (200037) generate?
The free cash flow of Shenzhen Nanshan Power Co Ltd is −216M 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 Shenzhen Nanshan Power Co Ltd (200037) carry?
The net debt of Shenzhen Nanshan Power Co Ltd is 199M 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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