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Fujian Superpipe (300198) fair value: what the stock is really worth

As of Sep 30, 2026: fair value of Fujian Superpipe ¥0.31, price ¥2.43, upside -87.2%, quality 48 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
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Industrials · CN · ISIN CNE1000011S9

FS Thin data Oct 4, 2026

Fujian Superpipe

300198 · SHE

Weakest SetupStrongly overvalued and low quality.

Generates free cash flow
Quality 48/100
Negative equity (buybacks among others)
Fair value ¥0.3100 · Strongly overvalued (−87.2%)
Weak Growth (revenue 5y −39.0 %/yr in CNY)
Trails peers (2/9)
Narrow moat 5/100
Thin data

What runs behind every stock

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

Price vs Fair Value

¥5.25 ¥1.04 Fair Value ¥0.3100 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 4, 2026.

How to read this chart

60‑month range ¥1.04 – ¥5.25 · fair‑value band ¥0.1700 – ¥0.3100 · the ¥2.43 price screens above the ¥0.3100 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 4, 2026.

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Company profile

Fujian Newchoice Pipe Technology Co., Ltd. engages in the research, development, production, and sale of water supply and drainage pipes in China and internationally.

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Fujian Newchoice Pipe Technology Co., Ltd. engages in the research, development, production, and sale of water supply and drainage pipes in China and internationally. It offers pipe products, such as high-density polyethylene (HDPE) winding reinforced pipes, steel-framed polyethylene plastic composite pipes, green environmental protection solid wall pipes, glass fiber reinforced continuous winding pipes, FRP reinforced pipes, and various pipe fittings, etc., as well as urban underground pipe networks and sewage treatment for use in municipal works, nuclear power and thermal power plants, petrochemical industries, and transportation hubs, etc. The company provides new energy automobile products and services consisting of power assemblies, lithium batteries and systems, and leasing services for cargo vans, coaches, and passenger cars. In addition, it is involved in bulk trading of pipes; and public-private partnership infrastructure investment and construction primarily for water environment treatment projects. It exports its products and auxiliary services to the Philippines, Indonesia, Myanmar, Vietnam, Pakistan, Egypt, Chad, and Trinidad and Tobago. Fujian Newchoice Pipe Technology Co., Ltd. was founded in 2003 and is based in Quanzhou, China.

Stock analysis

Fujian Superpipe (300198) currently trades at ¥2.43, while our model-based Fair Value estimate is ¥0.3100, 87.2% 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 ¥0.2800 per share, and 0 of the 5 models we run sit above the ¥2.43 price.

Bear case: the DCF Models group reads lowest at ¥0.0700, and 5 of the 5 models stay below the price. Evidence for this calculation is low.

Scenario range: ¥0.1700 (bear) to ¥0.3100 (bull), the price of ¥2.43 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 48/100 (below-average quality), in the Industrials sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Fujian Superpipe reported revenue of 75.7M CNY in FY2025 versus 678M CNY in FY2021, a compound −42.2%/yr. Reported net income was −275M CNY in FY2025.

Key figures

Market cap 2.5B CNY (≈ $374M) · P/S ratio 23.4 · EPS (TTM) ¥−0.2700 · Dividend yield 0.7% · Net margin −262% · Return on equity −110% · Return on assets (EBIT) −8.4% · Operating margin −50.9%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 22 out of 100 (medium confidence).

What moves the price

The share trades about 18% below its 52-week high and 25% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −19% fair-value upside, at −87%, 300198 screens richer than that median.

Fair Value models

Bear ¥0.1700 Fair Value ¥0.3100 Bull ¥0.3100
Price ¥2.43 · Upside -87.2%
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 ¥0.1500 ¥0.2800 ¥0.5000 77
Growth DCF ¥0.1600 ¥0.2800 ¥0.4800 76
5Y Revenue Exit n/a n/a ¥0.0700 69
All 7 models by family
DCF Models
FCF DCF ¥0.1500 ¥0.2800 ¥0.5000 77
5Y Revenue Exit n/a n/a ¥0.0700 69
10Y Revenue Exit ¥0.0300 ¥0.0700 ¥0.1100 64
Dividend Discount
Gordon GGM ¥0.1300 ¥0.1400 ¥0.1500 69
DDM Multi-Stage ¥0.1300 ¥0.1500 ¥0.1800 67
Growth DCF
Growth DCF ¥0.1600 ¥0.2800 ¥0.4800 76
Rev-Margin DCF n/a n/a ¥0.0400 69

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Quality Score breakdown

Overall quality 48/100

Of which business quality 48 · Market factors (momentum, volatility) 50

Profitability 1
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 1
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 71
Calm price path (market factor)
Momentum 41
Price trend over the last 3–12 months (market factor)
52W Momentum 43
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. 23/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−51.8%
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.
−46.9%
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.
−39.0%
Start year 2020 (pandemic). Over 10 years: −24.8% a year
Revenue growth 18 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.
+2.5%
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.
5.5% (2020) → −56.8% (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).
+48.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about +46.2% a year for the price.

300198 screens overvalued: fair value 87% below the price. Compare with Trane Technologies plc →

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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.Building Products & Equipment · 253 stocks

Beats the industry median on 2/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 48 · Below median
Fair Value upside −87.2% · Bottom 25%
Profitability
Return on equity (TTM) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets −3.0% · Bottom 25%
Operating margin (TTM) −50.9% · Bottom 25%
Growth and dividend
Revenue growth 131.1% · Top 25%
Dividend yield (TTM) 0.7% · Bottom 25%
Balance sheet
Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Valuation Multiplesvs Building Products & Equipment median · lower = cheaper

P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (TTM) 3.50× · Priciest 25%
P/FCF 15.1× · Pricier than median
PEG 0.39× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 11
FUTURE (revenue growth)100 · sector 20
PAST (return on equity)0 · sector 24
HEALTH (low debt)0 · sector 95
DIVIDEND (yield)14 · sector 41

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

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

Context: sector, industry, market

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

Similar stocks

10 more Building Products & Equipment stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Trane Technologies plc TT $451.98 $215.45 −52%
Johnson Controls International plc JCI $148.89 $39.93 −73%
Carrier Global Corporation CARR $55.38 $19.38 −65%
Compagnie de Saint-Gobain S.A SGO €67.10 €93.79 +40%
Geberit AG GEBN CHF 538.00 CHF 303.40 −44%
Kingspan Group KRX €97.05 €68.47 −29%
Masco Corporation MAS $68.85 $56.94 −17%
Carlisle Companies Incorporated CSL $325.21 $347.14 +7%
Lennox International Inc LII $368.41 $302.52 −18%
Madison Air Solutions Corporation MAIR $24.97 $20.32 −19%

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Cite: Fair Value Calculator (2026). "Fujian Superpipe Fair Value". https://www.fairvalue-calculator.com/stock/300198

Frequently asked questions

Is Fujian Superpipe (300198) overvalued or undervalued?
As of Oct 4, 2026, our model estimates a fair value of ¥0.3100 versus a price of ¥2.43, about −87% upside (overvalued).
What is the fair value of 300198?
Our model-based fair value for Fujian Superpipe is ¥0.3100 (as of Oct 4, 2026), built from audited fundamentals. The current price: ¥2.43.
What is the quality score of 300198?
Fujian Superpipe has a Quality Score of 48/100. 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 Fujian Superpipe (300198)?
Our model-based price target is the fair value of ¥0.3100 (as of Oct 4, 2026) from 7 valuation models. Cautious scenario ¥0.1700, optimistic scenario ¥0.3100. It is a calculation from audited fundamentals, not an analyst target.
What is the Fujian Superpipe stock forecast for 2026?
Our models put fair value at ¥0.3100, about −87% upside versus a price of ¥2.43 (overvalued). Cautious scenario ¥0.1700, optimistic scenario ¥0.3100. The calculation is refreshed regularly with new filings.
What is the revenue of Fujian Superpipe (300198)?
Fujian Superpipe reported trailing-twelve-month revenue of about 107M CNY (latest available figure, as of Oct 4, 2026).
Does Fujian Superpipe pay a dividend?
Fujian Superpipe currently shows a dividend yield of about 0.68% relative to its recent price (as of Oct 4, 2026).
What growth is priced into Fujian Superpipe (300198)?
For today's price to be fair in a discounted-cash-flow model, Fujian Superpipe would have to grow free cash flow by +48.7 % per year for five years (discount rate 10.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -39.0 % per year. As of Oct 4, 2026.
What discount rate (WACC) does the fair value of 300198 use?
Our models discount Fujian Superpipe at 10.4 %: a base by market capitalisation (small), damped by beta 0.41, country premium for China. 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 Fujian Superpipe that is +48.7 % per year a year over ten years, using the same discount rate (10.4 %) and the same formula as our fair value.
How much growth has Fujian Superpipe (300198) delivered so far?
Over the past 5 years revenue at Fujian Superpipe grew -39.0 % a year. The price currently implies +48.7 % 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 Fujian Superpipe (300198) growing?
The median revenue growth in the sector is +7.5 % a year. That is the yardstick for the growth priced into Fujian Superpipe (+48.7 % 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 Fujian Superpipe (300198)?
The free-cash-flow yield on the price is 0.99 %: that much free cash flow Fujian Superpipe produces per unit of market value. When it exceeds the discount rate of our models (10.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Fujian Superpipe (300198)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Fujian Superpipe it is ¥0.3100 per share (as of Oct 4, 2026), against a price of ¥2.43. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is Fujian Superpipe stock overvalued or undervalued in 2026?
As of Oct 4, 2026, 300198 trades above its calculated fair value: price ¥2.43, fair value ¥0.3100, a gap of about −87% (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 300198?
No. The price is what the market pays today (¥2.43); the fair value is what the company's own numbers justify (¥0.3100). For Fujian Superpipe the two are ¥2.12 per share apart. That gap is exactly why we show both numbers side by side.
How much is Fujian Superpipe worth?
The market values Fujian Superpipe at about 2.5B CNY (market capitalisation, as of Oct 4, 2026). Per share that is ¥2.43; our models calculate a fair value of ¥0.3100 per share.
What do the bullish and bearish scenarios say about 300198?
Our models span a range for Fujian Superpipe: cautious scenario ¥0.1700, base ¥0.3100, optimistic ¥0.3100 per share (as of Oct 4, 2026, price ¥2.43). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of 300198?
The PEG ratio of Fujian Superpipe is 0.39 (P/E divided by earnings growth, as of Oct 4, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Fujian Superpipe (300198)?
Balance-sheet figures for Fujian Superpipe (as of Oct 4, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is 300198 from its 52-week high?
Fujian Superpipe trades at ¥2.43, about 18% below its 52-week high of ¥2.96 and 25% above the low of ¥1.94 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of ¥0.3100 is for.
Which stocks are comparable to Fujian Superpipe?
From the same area (Industrials) we also value Trane Technologies plc, Johnson Controls International plc, Carrier Global Corporation, Compagnie de Saint-Gobain S.A, 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 Fujian Superpipe stock attractive at the current price?
The data as of Oct 4, 2026: price ¥2.43, calculated fair value ¥0.3100 (−87%), Quality Score 48/100, from 7 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 300198 calculated?
We run Fujian Superpipe through 7 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 ¥0.3100, 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 14.9 % above its aggregate fair value. Fujian Superpipe 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 Fujian Superpipe (300198)?
The closing price on Sep 30, 2026 was ¥2.43. Our model-based fair value is ¥0.3100, about −87% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Fujian Superpipe right now?
The price sits above even our optimistic bull case (¥0.3100). The favourable scenario is already priced in. 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 (48/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (¥0.1700 to ¥0.3100) leaves room in how you read the outcome.

Key figures of Fujian Superpipe

How large is the market capitalisation of Fujian Superpipe (300198)?
The market capitalisation of Fujian Superpipe is 2.5B CNY (≈ $374M). 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 Fujian Superpipe (300198)?
The price-to-sales ratio of Fujian Superpipe is 23.4 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Fujian Superpipe (300198)?
Earnings per share at Fujian Superpipe are ¥−0.2700. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Fujian Superpipe (300198)?
The dividend yield of Fujian Superpipe is 0.7%. 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 Fujian Superpipe (300198)?
The net margin of Fujian Superpipe is −262% (last twelve months). 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 Fujian Superpipe (300198)?
The return on equity (ROE) of Fujian Superpipe is −110% (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 Fujian Superpipe (300198)?
On an EBIT basis the return on assets of Fujian Superpipe is −8.4% (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 Fujian Superpipe (300198)?
The operating margin of Fujian Superpipe is −50.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Fujian Superpipe (300198)?
Revenue at Fujian Superpipe is growing +131% versus a year earlier (3y avg −46.9%). 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 Fujian Superpipe (300198)?
Earnings per share at Fujian Superpipe are growing −96.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Fujian Superpipe (300198) carry?
The net debt of Fujian Superpipe is 657M CNY (fiscal year 2025, ≈ 26.4 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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