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Jintai Energy Holdings Ltd (2728) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Jintai Energy Holdings Ltd HK$0.10, price HK$0.40, upside -74.7%, quality 49 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Energy · HK · ISIN KYG5141G1064

JE Thin data Sep 27, 2026

Jintai Energy Holdings Ltd

2728 · HK

Weakest SetupStrongly overvalued and low quality.

!Fair value HK$0.1000 · Strongly overvalued (−74.7%)
!Quality 49/100
!Weak Growth (revenue 5y −37.1 %/yr)
!Loss-making · -1.4% net margin (TTM)
!High debt · generates free cash flow
!Trails peers (0/8)
!Narrow moat 8/100
!Evidence only low, so the estimate is less certain
!The models disagree: range HK$0.0500 to HK$0.1900
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

HK$4.40 HK$0.3000 Fair Value HK$0.1000 May 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.

How to read this chart

60‑month range HK$0.3000 – HK$4.40 · fair‑value band HK$0.0500 – HK$0.1900 · the HK$0.3950 price screens above the HK$0.1000 fair value. Dashed = 300-day average. As of Sep 27, 2026.

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Company profile

Jintai Energy Holdings Limited, an investment holding company, engages in the energy trading business in the People's Republic of China and Hong Kong. The company operates three segments: Energy Business; Operation of Digital Energy Trading Parks; and Others.

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Jintai Energy Holdings Limited, an investment holding company, engages in the energy trading business in the People's Republic of China and Hong Kong. The company operates three segments: Energy Business; Operation of Digital Energy Trading Parks; and Others. It trades in gasoline, diesel, and chemical products; operates digital energy trading parks; and drilling services. The company also provides oil and gas development engineering construction and technical services, including geochemical exploration, drilled wells, test logging, downhole special operation, engineering building design, and construction services, as well as related oil and gas development technology research, development, and services; energy internet, which connects the energy industry chain with the Internet; supply chain services that include integration of internet, massive of data, internet of things, storage, and finance; and operates industrial parks. In addition, it trades in agricultural products and deformed steel products. The company was formerly known as Yuhua Energy Holdings Limited and changed its name to Jintai Energy Holdings Limited in February 2020. Jintai Energy Holdings Limited was founded in 1990 and is headquartered in Dongying, the People's Republic of China.

Stock analysis

Jintai Energy Holdings Ltd (2728) currently trades at HK$0.3950, while our model-based Fair Value estimate is HK$0.1000, 74.7% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Growth DCF group reads highest at a median of HK$0.1200 per share, and 0 of the 5 models we run sit above the HK$0.3950 price.

Bear case: the DCF Models group reads lowest at HK$0.0600, and 5 of the 5 models stay below the price. Evidence for this calculation is low.

Scenario range: HK$0.0500 (bear) to HK$0.1900 (bull), the price of HK$0.3950 sits above 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 49/100 (below-average quality), in the Energy sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Jintai Energy Holdings Ltd reported revenue of HK$1.4B in FY2025 versus HK$11.0B in FY2021, a compound −40.4%/yr. Reported net income was −HK$19.3M in FY2025.

Key figures

Market cap HK$98.0M (≈ $12.5M) · P/S ratio 0.07 · Net margin −1.4% · Return on equity −23.4% · Return on assets (EBIT) 1.8% · Operating margin −0.4% · Revenue (TTM) HK$1.4B · Revenue growth (YoY) −2.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 36% below its 52-week high and 32% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Energy peers we cover trades at −66% fair-value upside, at −75%, 2728 screens richer than that median.

Fair Value models

The price assumes far more growth than our models allow for, so the models scatter widely (HK$0.0100 to HK$0.1200). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear HK$0.0500 Fair Value HK$0.1000 Bull HK$0.1900
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. 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.
Highest evidence
FCF DCF HK$0.0600 HK$0.1000 HK$0.2300 72
Growth DCF HK$0.0500 HK$0.1200 HK$0.2300 71
5Y Revenue Exit HK$0.0100 HK$0.0300 HK$0.0600 65
All 6 models by family
DCF Models
FCF DCF HK$0.0600 HK$0.1000 HK$0.2300 72
5Y Revenue Exit HK$0.0100 HK$0.0300 HK$0.0600 65
10Y Revenue Exit HK$0.0300 HK$0.0600 HK$0.0800 64
Multiples
EV/Revenue n/a n/a HK$0.0100 50
Asset-Based
NCAV (Graham) n/a HK$0.0100 HK$0.0100 52
Growth DCF
Growth DCF HK$0.0500 HK$0.1200 HK$0.2300 71

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Quality Score breakdown

Overall quality 49/100

Of which business quality 48 · Market factors (momentum, volatility) 24

Profitability 23
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 45
Earnings quality: real cash, not paper profit
Fin. Strength 30
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 15
Price trend over the last 3–12 months (market factor)
52W Momentum 12
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 16/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+8.9%
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.
−37.1%
Start year 2020 (pandemic). Over 10 years: −11.5% a year
Revenue growth 21 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.
+4.7%
Profit margin (trend) ⓘ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.
2.6% (2020) → −0.8% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

Growth Forecast

A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+63.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Hong Kong: IMF forecast 2.1% a year to 2030, 1.8% from 2016 to 2025) that is about +60.4% a year for the price.

2728 screens overvalued: fair value 75% below the price. Compare with Reliance Industries Limited →

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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.Oil & Gas Refining & Marketing · 107 stocks

Beats the industry median on 0/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 49 · Below median
Fair Value upside −74.7% · Bottom 25%
Profitability
Return on assets −0.5% · Bottom 25%
Net margin (TTM) −1.4% · Bottom 25%
Operating margin (TTM) −0.4% · Bottom 25%
Growth and dividend
Revenue growth −2.5% · Below median
Balance sheet
Debt / equity 3.21× · Highest 25%

Context: sector, industry, market

Values & ESG

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

Oil & gas

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Sunoco LP, SUN $74.76 $53.89 −28%

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HK$0.1000 −75%Fair Value
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Cite: Fair Value Calculator (2026). "Jintai Energy Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2728

Frequently asked questions

Is Jintai Energy Holdings Ltd (2728) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$0.1000 versus a price of HK$0.3950, about −75% upside (overvalued).
What is the fair value of 2728?
Our model-based fair value for Jintai Energy Holdings Ltd is HK$0.1000 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$0.3950.
What is the quality score of 2728?
Jintai Energy Holdings Ltd has a Quality Score of 49/100. 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 Jintai Energy Holdings Ltd (2728)?
Our model-based price target is the fair value of HK$0.1000 (as of Sep 27, 2026) from 6 valuation models. Cautious scenario HK$0.0500, optimistic scenario HK$0.1900. It is a calculation from audited fundamentals, not an analyst target.
What is the Jintai Energy Holdings Ltd stock forecast for 2026?
Our models put fair value at HK$0.1000, about −75% upside versus a price of HK$0.3950 (overvalued). Cautious scenario HK$0.0500, optimistic scenario HK$0.1900. The calculation is refreshed regularly with new filings.
What is the revenue of Jintai Energy Holdings Ltd (2728)?
Jintai Energy Holdings Ltd reported trailing-twelve-month revenue of about HK$1.4B (latest available figure, as of Sep 27, 2026).
What growth is priced into Jintai Energy Holdings Ltd (2728)?
For today's price to be fair in a discounted-cash-flow model, Jintai Energy Holdings Ltd would have to grow free cash flow by +63.8 % per year for five years (discount rate 10.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -37.1 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of 2728 use?
Our models discount Jintai Energy Holdings Ltd at 10.3 %: a base by market capitalisation (nano), country premium for Hong Kong. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Jintai Energy Holdings Ltd that is +63.8 % per year a year over ten years, using the same discount rate (10.3 %) and the same formula as our fair value.
How much growth has Jintai Energy Holdings Ltd (2728) delivered so far?
Over the past 5 years revenue at Jintai Energy Holdings Ltd grew -37.1 % a year. The price currently implies +63.8 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Jintai Energy Holdings Ltd (2728) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into Jintai Energy Holdings Ltd (+63.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Jintai Energy Holdings Ltd (2728)?
The free-cash-flow yield on the price is 0.45 %: that much free cash flow Jintai Energy Holdings Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Jintai Energy Holdings Ltd (2728)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Jintai Energy Holdings Ltd it is HK$0.1000 per share (as of Sep 27, 2026), against a price of HK$0.3950. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Jintai Energy Holdings Ltd stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 2728 trades above its calculated fair value: price HK$0.3950, fair value HK$0.1000, a gap of about −75% (overvalued). 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 2728?
No. The price is what the market pays today (HK$0.3950); the fair value is what the company's own numbers justify (HK$0.1000). For Jintai Energy Holdings Ltd the two are HK$0.2950 per share apart. That gap is exactly why we show both numbers side by side.
How much is Jintai Energy Holdings Ltd worth?
The market values Jintai Energy Holdings Ltd at about HK$98.0M (market capitalisation, as of Sep 27, 2026). Per share that is HK$0.3950; our models calculate a fair value of HK$0.1000 per share.
What do the bullish and bearish scenarios say about 2728?
Our models span a range for Jintai Energy Holdings Ltd: cautious scenario HK$0.0500, base HK$0.1000, optimistic HK$0.1900 per share (as of Sep 27, 2026, price HK$0.3950). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Jintai Energy Holdings Ltd (2728)?
Balance-sheet figures for Jintai Energy Holdings Ltd (as of Sep 27, 2026): return on equity −23.4%, debt of 3.21 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is 2728 from its 52-week high?
Jintai Energy Holdings Ltd trades at HK$0.3950, about 36% below its 52-week high of HK$0.6200 and 32% above the low of HK$0.3000 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.1000 is for.
Which stocks are comparable to Jintai Energy Holdings Ltd?
From the same area (Energy) we also value Reliance Industries Limited, Valero Energy Corporation, Marathon Petroleum Corporation, Phillips 66, 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 Jintai Energy Holdings Ltd stock attractive at the current price?
The data as of Sep 27, 2026: price HK$0.3950, calculated fair value HK$0.1000 (−75%), Quality Score 49/100, from 6 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 2728 calculated?
We run Jintai Energy Holdings Ltd through 6 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$0.1000, 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. Jintai Energy Holdings Ltd itself currently trades above fair value. 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 Jintai Energy Holdings Ltd (2728)?
The closing price on Oct 2, 2026 was HK$0.3950. Our model-based fair value is HK$0.1000, about −75% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Jintai Energy Holdings Ltd right now?
The price sits above even our optimistic bull case (HK$0.1900). The favourable scenario is already priced in. The model range is unusually wide (HK$0.0500 to HK$0.1900). The outcome hinges heavily on assumptions, so read the point estimate with caution. 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 but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of Jintai Energy Holdings Ltd

How large is the market capitalisation of Jintai Energy Holdings Ltd (2728)?
The market capitalisation of Jintai Energy Holdings Ltd is HK$98.0M (≈ $12.5M). 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 Jintai Energy Holdings Ltd (2728)?
The price-to-sales ratio of Jintai Energy Holdings Ltd is 0.07 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Jintai Energy Holdings Ltd (2728)?
The net margin of Jintai Energy Holdings Ltd is −1.4% (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 Jintai Energy Holdings Ltd (2728)?
The return on equity (ROE) of Jintai Energy Holdings Ltd is −23.4% (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 Jintai Energy Holdings Ltd (2728)?
On an EBIT basis the return on assets of Jintai Energy Holdings Ltd is 1.8% (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 Jintai Energy Holdings Ltd (2728)?
The operating margin of Jintai Energy Holdings Ltd is −0.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Jintai Energy Holdings Ltd (2728)?
Revenue at Jintai Energy Holdings Ltd is growing −2.5% versus a year earlier (3y avg +110%). 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 Jintai Energy Holdings Ltd (2728)?
Earnings per share at Jintai Energy Holdings Ltd are growing −86.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Jintai Energy Holdings Ltd (2728) carry?
The net debt of Jintai Energy Holdings Ltd is HK$150M (fiscal year 2025, ≈ 18.9 yrs of FCF). 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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