Nanjing Baose Co (300402) Fair Value & Analysis

Industrials · CN · Market cap 4.2B CNY

Below-average quality, and screening another 69% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (¥5.43). The favourable scenario is already priced in.
• Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 9, 2026.

How to read this chart

60‑month range ¥10.97 – ¥37.38 · fair‑value band ¥3.45 – ¥5.43 · the ¥14.92 price screens above the ¥4.58 fair value. Dashed = 300-day average. As of Jul 9, 2026.

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Analysis

Nanjing Baose Co (300402) currently trades at ¥14.92, while our model-based Fair Value estimate is ¥4.58, implying the stock looks roughly 69.3% overvalued today. The Quality Score stands at 37/100 (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, Nanjing Baose Co generated revenue of 1.3B CNY at a net margin of 3.8%. Revenue declined 9.6% year over year. It earns a return on equity of 3.4%. The balance sheet holds a net cash position of 621M CNY. Fundamentals as of Jul 9, 2026

Our scenario range runs from ¥3.45 (bear case) to ¥5.43 (bull case); at ¥14.92, 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 48% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -69%, 300402 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.

Widest divergence: DCF Models (¥7.06) versus Dividend Discount (¥1.63). Highest evidence: Residual Income (76).

Key figures & financial health

Quality Score breakdown

About the company

Nanjing Baose Co., Ltd. engages in the research and development, design, manufacture, and installation of special Nanjing Baose Co., Ltd. engages in the research and development, design, manufacture, and installation of material pressure vessels of titanium, zirconium, nickel, tantalum, and stainless steel in China and internationally.

Full company description

Nanjing Baose Co., Ltd. engages in the research and development, design, manufacture, and installation of special Nanjing Baose Co., Ltd. engages in the research and development, design, manufacture, and installation of material pressure vessels of titanium, zirconium, nickel, tantalum, and stainless steel in China and internationally. The company offers reactors, condensers, towers, crystallizers, and supporting special material pipes and fittings for ultra-large PTA plants, as well as heat exchangers, reactors, and storage tanks for large-scale propane dehydrogenation to propylene plants; reaction vessels, preheaters, integrated high-temperature chlorination reactors, and distillation columns for ABS and high-performance resin; hydrogen peroxide plants; vacuum evaporators; preheaters, and flash tanks for the production of raw materials related to power batteries. It also provides ultrapure silicon reactors for polycrystalline silicon cold hydrogenation systems; SGS steam generator units for concentrated solar power; coolers and skid-mounted modules for water treatment evaporation systems; large structural components and containers for ships; submersible auxiliary equipment; large pressure-resistant structural parts made of high-strength titanium alloy for deep-sea applications, etc.; titanium scrubbing towers for civilian ships; and welding equipment and pipelines for high-temperature and high-pressure combustion chamber test apparatus for aero-engines, as well as aerospace-related supporting fields. Its products are used in petroleum, chemical, metallurgical, environmental protection, nuclear power, military industry, marine engineering, and other fields of military and national defense construction. The company was formerly known as Nanjing Baose Titanium Industry Co., Ltd and changed its name to Nanjing Baose Co., Ltd. Nanjing Baose Co., Ltd. was founded in 1994 and is based in Nanjing, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Nanjing Baose Co reported revenue of ¥1.4B in FY2025 versus ¥1.3B in FY2021, a compound +2.5%/yr. Reported net income was ¥54.1M in FY2025, compounding +0.6%/yr from FY2021.

300402 screens 69% overvalued. Compare with GE Vernova Inc →

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.

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

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: 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.

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

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Frequently asked questions

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.