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Harbin Jiuzhou Group (300040) Fair Value & Analysis

Industrials · CN · Market cap 4.1B CNY

HJ Harbin Jiuzhou Group 300040 · SHE
Price¥6.48
Fair Value¥1.34
Upside-79.3%
Quality41/100
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Mixed Growth
Thin margins · 3.0% net margin
Moderate debt · generates free cash flow
0.31% dividend yield
Trails peers (5/14)
Narrow moat 33/100
Evidence: High Range ¥1.00 – ¥1.67 Share as image

Fair value as of: Jul 7, 2026

From 26 valuation models · updated 34 days ago

Share price +17.2% over the past month.

Below-average quality, and screening another 79% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥1.67). The favourable scenario is already priced in.
  • Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

¥12.17 ¥3.35 Fair Value ¥1.34 Feb 2021 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

60‑month range ¥3.35 – ¥12.17 · fair‑value band ¥1.00 – ¥1.67 · the ¥6.48 price screens above the ¥1.34 fair value. Dashed = 300-day average. As of Jul 7, 2026.

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Analysis

Harbin Jiuzhou Group (300040) currently trades at ¥6.48, while our model-based Fair Value estimate is ¥1.34, implying the stock looks roughly 79.3% overvalued today. The Quality Score stands at 41/100 (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: high).

Over the trailing twelve months, Harbin Jiuzhou Group generated revenue of 1.5B CNY at a net margin of 3.0%. Revenue grew 11.1% year over year. It earns a return on equity of 2.0%. Net debt stands at 1.4B CNY. Fundamentals as of Jul 7, 2026

Our scenario range runs from ¥1.00 (bear case) to ¥1.67 (bull case); at ¥6.48, 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 32% below its 52-week high and 11% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -79%, 300040 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 BearBaseBull Evidence
Highest evidence
Growth DCF ¥1.17 ¥3.03 ¥5.88 80
Residual Income ¥2.77 ¥2.64 ¥1.99 76
Rev-Margin DCF ¥0.5800 ¥2.11 ¥3.98 74
All 26 models by family
DCF Models
FCF DCF ¥1.16 ¥3.12 ¥6.18 38
Owner Earnings ¥1.11 ¥2.95 31
5Y Revenue Exit ¥0.5800 ¥2.11 ¥4.11 39
5Y EBITDA Exit ¥2.68 ¥6.23 ¥10.54 41
5Y P/E Exit ¥0.4600 ¥1.22 38
10Y Revenue Exit ¥0.6900 ¥2.16 ¥4.22 36
10Y EBITDA Exit ¥2.09 ¥5.02 ¥9.23 37
10Y P/E Exit ¥0.2200 ¥1.01 ¥1.97 35
Earnings-Based
Graham-Dodd ¥0.4300 ¥1.66 ¥2.25 54
Lynch FV ¥0.4000 ¥0.5800 ¥0.7500 50
PEG = 1.0 ¥0.4000 ¥0.5800 ¥0.7500 46
EPV ¥0.0300 ¥0.2600 59
Dividend Discount
Gordon GGM ¥1.58 ¥3.14 ¥4.76 70
DDM Multi-Stage ¥1.58 ¥2.72 ¥3.32 61
Multiples
P/E Multiple ¥1.00 ¥1.34 ¥1.67 63
P/S Multiple ¥0.8100 ¥1.08 ¥1.35 58
P/B Multiple ¥0.8100 ¥1.08 ¥1.35 55
EV/EBIT ¥1.25 ¥2.31 ¥3.38 53
EV/EBITDA ¥4.07 ¥6.08 ¥8.08 54
EV/Revenue ¥0.3400 ¥1.32 ¥2.29 43
Asset-Based
NCAV (Graham) ¥2.01 ¥2.69 ¥4.02 50
Growth DCF
Growth DCF ¥1.17 ¥3.03 ¥5.88 80
Rev-Margin DCF ¥0.5800 ¥2.11 ¥3.98 74
Economic Profit
Residual Income ¥2.77 ¥2.64 ¥1.99 76
ROIC Compounder ¥0.0300 ¥0.2600 72
Growth Earnings
Growth-Adj P/E ¥0.7300 ¥1.05 ¥1.36 68

Widest divergence: Dividend Discount (¥2.72) versus Economic Profit (¥0.0300). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 1.5B CNY
Revenue growth (YoY) +11.1%
Net margin 3.0%
Return on equity 2.0%
Free cash flow 174M CNY FY2025
P/E ratio 91.1
More key figures
Operating margin 14.3%
EPS (TTM) ¥0.0700
Dividend yield 0.3%
Net debt 1.4B CNY FY2025

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

Quality Score breakdown

Overall quality 41/100

Of which business quality 41 · Market factors (momentum, volatility) 34

Profitability 16
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 66
Earnings quality: real cash, not paper profit
Fin. Strength 27
Balance sheet, leverage, solvency risk
Investment 82
Disciplined investing over empire-building
Low Volatility 58
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 13
Distance to the 52-week high (market factor)
Net Issuance 27
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

Harbin Jiuzhou Group Co.,Ltd. manufactures and supplies electrical equipment and energy efficiency management solutions in China and internationally. The company offers power products, including batteries; and power quality management products, comprising high and low voltage reactive power compensation products.

Full company description

Harbin Jiuzhou Group Co.,Ltd. manufactures and supplies electrical equipment and energy efficiency management solutions in China and internationally. The company offers power products, including batteries; and power quality management products, comprising high and low voltage reactive power compensation products. It also provides transformers and reactors, prefabricated box types, busbars and bridges, terminals, and distribution automation products; low voltage switch complete set equipment; medium voltage switchgears comprising gas insulated medium voltage and air insulation medium voltage switchgears; and electrical components that include medium voltage switching components and low voltage dual power transfer switches. In addition, the company offers high-voltage motor drive products, including high voltage and low voltage soft starters, and high and low voltage inverters; new energy grid-connected converters and supporting products, such as megawatt level wind power converters; and power engineering installation and construction products. Further, it provides energy saving and energy efficiency management, city and infrastructure, rail transportation, distribution automation, building technology, industry, mine, new energy, data center, and reactive power compensation solutions. The company was formerly known as Harbin Jiuzhou Electrical Co.,Ltd and changed its name to Harbin Jiuzhou Group Co.,Ltd. in July 2020. Harbin Jiuzhou Group Co.,Ltd. was founded in 1993 and is based in Harbin, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Harbin Jiuzhou Group reported revenue of ¥1.5B in FY2025 versus ¥1.4B in FY2021, a compound +0.7%/yr. Reported net income was ¥40.9M in FY2025, compounding −31.3%/yr from FY2021.

Growth Quality 57/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
1.5B CNY
Latest YoY
−1.9%
Avg. growth/yr (3Y)
+3.0%
Avg. growth/yr (5Y)
+2.6%
Avg. growth/yr (19Y)
+11.9%
Revenue +0.7%/yr
FY21 ¥1.4B
FY22 ¥1.3B
FY23 ¥1.2B
FY24 ¥1.5B
FY25 ¥1.5B
Net income −31.3%/yr
FY21 ¥184M
FY22 ¥148M
FY23 ¥94.2M
FY24 −¥545M
FY25 ¥40.9M

300040 screens 79% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "Harbin Jiuzhou Group Fair Value". https://www.fairvalue-calculator.com/stock/300040

Peer Group

Specialty Industrial Machinery · 809 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 41 · Bottom 25%
Fair Value upside −79% · Bottom 25%
Return on equity (TTM) 2% · Below median
Return on assets 1% · Below median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 14% · Top 25%
Revenue growth 11% · Above median
Dividend yield (TTM) 0.3% · Bottom 25%
Debt / equity 0.59× · Higher than 75% of peers

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 91.1× · Pricier than 75% of peers
P/B 1.59× · Cheaper than median
P/S (TTM) 2.76× · Pricier than median
P/FCF 3.5× · Cheaper than median
EV/EBITDA 14.4× · 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 0 · sector 0
FUTURE 56 · sector 23
PAST 8 · sector 28
HEALTH 71 · sector 96
DIVIDEND 6 · sector 24

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

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 Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Jul 7, 2026).

Stock Price Fair Value vs Fair Value
GE Vernova Inc 1GEV €887.60 €186.93 -79%
1SIE 1SIE €273.20 €91.93 -66%
SMNS SMNS C$31.76 C$22.68 -29%
Eaton Corporation ETN $407.28 $171.92 -58%
Atlas Copco AB ATCOA kr 195.15 kr 112.59 -42%
Sandvik AB SAND kr 384.10 kr 193.01 -50%
Doosan Enerbility Co 034020 76,400 KRW 7,938 KRW -90%
Vestas Wind Systems A/S VWS kr 178.10 kr 124.54 -30%
Zhejiang Sanhua Intelligent Controls Co 002050 ¥43.20 ¥22.68 -48%
NARI Technology Co 600406 ¥22.19 ¥18.71 -16%

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Frequently asked questions

Is Harbin Jiuzhou Group (300040) overvalued or undervalued?
As of Jul 7, 2026, our model estimates a fair value of ¥1.34 versus a price of ¥6.48, about −79% (overvalued).
What is the fair value of 300040?
Our model-based fair value for Harbin Jiuzhou Group is ¥1.34 (as of Jul 7, 2026), built from audited fundamentals. The current price is ¥6.48.
What is the quality score of 300040?
Harbin Jiuzhou Group has a Quality Score of 41/100. 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 Harbin Jiuzhou Group (300040)?
Harbin Jiuzhou Group reported trailing-twelve-month revenue of about 1.5B CNY (latest available figure, as of Jul 7, 2026).
What is the net profit margin of 300040?
The net profit margin of Harbin Jiuzhou Group is about 3.0%, meaning it keeps roughly 3.0% of revenue as net income. Based on the latest reported figures.
Does Harbin Jiuzhou Group pay a dividend?
Harbin Jiuzhou Group currently shows a dividend yield of about 0.31% relative to its recent price (as of Jul 7, 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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