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Jiangsu Lopal Tech. Group (2465) Fair Value & Analysis

Energy · HK · Market cap HK$9.6B

JL Jiangsu Lopal Tech. Group 2465 · HK
PriceHK$10.46
Fair ValueHK$16.34
Upside+56.2%
Quality33/100
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Expensive Growth
Thin margins · 0.6% net margin
Moderate debt · negative free cash flow
Trails peers (4/12)
Narrow moat 27/100
Evidence: Medium Range HK$10.94 – HK$21.72 Share as image

Fair value as of: Jul 7, 2026

From 8 valuation models · updated 34 days ago

Fair value updated Jul 7, 2026, revised from HK$3.53 to HK$16.34 (+362.8%) since Jul 2, 2026. Share price +2.8% over the past month.

Below-average quality, screening 56% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (33/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (HK$10.94). The market is more pessimistic than our downside scenario.
  • A fairly wide model range (HK$10.94 to HK$21.72) leaves room in how you read the outcome.
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Price vs Fair Value (21 months)

HK$22.96 HK$3.84 Fair Value HK$16.34 Oct 2024 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 7, 2026.

How to read this chart

21‑month range HK$3.84 – HK$22.96 · fair‑value band HK$10.94 – HK$21.72 · the HK$10.46 price screens below the HK$16.34 fair value. Dashed = 300-day average. As of Jul 7, 2026.

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Analysis

Jiangsu Lopal Tech. Group (2465) currently trades at HK$10.46, while our model-based Fair Value estimate is HK$16.34, implying the stock looks roughly 56.2% undervalued today. The Quality Score stands at 33/100 (below-average quality), in the Energy 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, Jiangsu Lopal Tech. Group generated revenue of HK$10.8B at a net margin of 0.6%. Revenue grew 119.6% year over year. It earns a return on equity of 4.4%. Net debt stands at HK$3.1B. Fundamentals as of Jul 7, 2026

Our scenario range runs from HK$10.94 (bear case) to HK$21.72 (bull case); at HK$10.46, the current price sits below 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 55% below its 52-week high and 66% above its 52-week low, currently below its 200-day average. For context, the median of 10 Energy peers we cover trades at -48% fair-value upside, at 56%, 2465 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
ROIC Compounder HK$1.74 HK$1.85 HK$1.94 72
Gordon GGM HK$2.03 HK$4.04 HK$6.12 70
DDM Multi-Stage HK$2.03 HK$3.49 HK$4.27 61
All 8 models by family
Earnings-Based
EPV HK$1.74 HK$1.85 HK$1.94 59
Dividend Discount
Gordon GGM HK$2.03 HK$4.04 HK$6.12 70
DDM Multi-Stage HK$2.03 HK$3.49 HK$4.27 61
Multiples
EV/EBIT HK$2.35 HK$2.78 HK$3.21 53
EV/EBITDA HK$9.89 HK$12.84 HK$15.78 54
EV/Revenue HK$1.93 HK$2.30 HK$2.67 43
Asset-Based
NCAV (Graham) HK$1.51 HK$2.02 HK$3.01 50
Economic Profit
ROIC Compounder HK$1.74 HK$1.85 HK$1.94 72

Widest divergence: Dividend Discount (HK$3.49) versus Earnings-Based (HK$1.85). Highest evidence: ROIC Compounder (72).

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Key figures & financial health

Revenue (TTM) HK$10.8B
Revenue growth (YoY) +120%
Net margin 0.6%
Return on equity 4.4%
Free cash flow −HK$572M FY2025
P/E ratio 151.5
More key figures
Operating margin 10.3%
EPS (TTM) HK$-0.3242
Net debt HK$3.1B FY2025

Figures from reported company fundamentals · as of Jul 7, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 33/100

Of which business quality 30 · Market factors (momentum, volatility) 48

Profitability 12
Margins and returns on capital today
Quality Growth 75
Are margins and returns improving?
Cashflow 9
Earnings quality: real cash, not paper profit
Fin. Strength 17
Balance sheet, leverage, solvency risk
Investment 70
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 61
Distance to the 52-week high (market factor)
Net Issuance 30
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

Jiangsu Lopal Tech. Group Co., Ltd. engages in the research and development, production, and sale of lithium iron phosphate cathode materials and environmental protection fine chemicals for vehicles in China and internationally.

Full company description

Jiangsu Lopal Tech. Group Co., Ltd. engages in the research and development, production, and sale of lithium iron phosphate cathode materials and environmental protection fine chemicals for vehicles in China and internationally. The company provides automotive lubricants, grease, coolants, brake fluids, chemicals, industrial lubricating grease, automotive maintenance products, lithium battery materials, hydrogen energy, and plastic new materials. It provides its products under the Longpan brand name. The company was formerly known as Jiangsu Lopal Tech. Co., Ltd. and changed its name to Jiangsu Lopal Tech. Group Co., Ltd. in August 2025. Jiangsu Lopal Tech. Group Co., Ltd. was founded in 2003 and is based in Nanjing, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jiangsu Lopal Tech. Group reported revenue of HK$8.9B in FY2025 versus HK$4.1B in FY2021, a compound +21.9%/yr. Reported net income was −HK$171M in FY2025.

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
HK$8.9B
Latest YoY
+16.4%
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.
−14.0%
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.
+36.1%
Revenue +21.9%/yr
FY21 HK$4.1B
FY22 HK$14.1B
FY23 HK$8.7B
FY24 HK$7.7B
FY25 HK$8.9B
Net income
FY21 HK$351M
FY22 HK$753M
FY23 −HK$1.2B
FY24 −HK$642M
FY25 −HK$171M

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Cite: Fair Value Calculator (2026). "Jiangsu Lopal Tech. Group Fair Value". https://www.fairvalue-calculator.com/stock/2465

Peer Group

Oil & Gas Refining & Marketing · 114 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 33 · Bottom 25%
Fair Value upside +56% · Top 25%
Return on equity (TTM) 4% · Below median
Return on assets 1% · Bottom 25%
Net margin (TTM) 1% · Below median
Operating margin (TTM) 10% · Above median
Revenue growth 120% · Top 25%
Debt / equity 0.99× · Higher than 75% of peers

Valuation Multiples vs Oil & Gas Refining & Marketing median · lower = cheaper

P/E (TTM) 151.5× · Pricier than 75% of peers
P/B 3.39× · Pricier than 75% of peers
P/S (TTM) 0.88× · Pricier than 75% of peers
EV/EBITDA 7.5× · 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 100 · sector 15
FUTURE 100 · sector 15
PAST 18 · sector 32
HEALTH 51 · sector 80
DIVIDEND 0 · sector 50

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

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

Similar stocks

10 more Oil & Gas Refining & Marketing stocks, each showing price versus our Fair Value estimate (as of Jul 7, 2026).

Stock Price Fair Value vs Fair Value
Reliance Industries Limited RELIANCE ₹1,293 ₹835.66 -35%
Valero Energy Corporation VLO $309.65 $127.32 -59%
Marathon Petroleum Corporation MPC $283.74 $135.80 -52%
Phillips 66 PSX $196.16 $101.04 -48%
Neste Oyj NESTE €31.10 €4.07 -87%
Formosa Petrochemical Corporation 6505 81.30 TWD 16.68 TWD -79%
Indian Oil Corporation IOC ₹138.96 ₹417.35 +200%
HF Sinclair Corporation DINO $88.59 $48.90 -45%
Bharat Petroleum Corporation BPCL ₹315.55 ₹846.81 +168%
SK Innovation Co 096770 121,400 KRW 58,865 KRW -52%

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Frequently asked questions

Is Jiangsu Lopal Tech. Group (2465) overvalued or undervalued?
As of Jul 7, 2026, our model estimates a fair value of HK$16.34 versus a price of HK$10.46, about +56% (undervalued).
What is the fair value of 2465?
Our model-based fair value for Jiangsu Lopal Tech. Group is HK$16.34 (as of Jul 7, 2026), built from audited fundamentals. The current price is HK$10.46.
What is the quality score of 2465?
Jiangsu Lopal Tech. Group has a Quality Score of 33/100. 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 Jiangsu Lopal Tech. Group (2465)?
Jiangsu Lopal Tech. Group reported trailing-twelve-month revenue of about HK$10.8B (latest available figure, as of Jul 7, 2026).
What is the net profit margin of 2465?
The net profit margin of Jiangsu Lopal Tech. Group is about 0.6%, meaning it keeps roughly 0.6% of revenue as net income. 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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