HNAC Technology Co (300490) Fair Value & Analysis
Industrials · CN · Market cap 6.0B CNY
Fair value as of: Jul 9, 2026
From 2 valuation models · updated 32 days ago
Fair value updated Jul 9, 2026, revised from ¥24.16 to ¥3.60 (−85.1%) since Jun 24, 2026. Share price −4.9% over the past month.
Below-average quality, and screening another 70% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (¥5.37). The favourable scenario is already priced in.
- Weak quality (35/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- A fairly wide model range (¥2.68 to ¥5.37) leaves room in how you read the outcome.
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 ¥6.26 – ¥32.67 · fair‑value band ¥2.68 – ¥5.37 · the ¥11.92 price screens above the ¥3.60 fair value. Dashed = 300-day average. As of Jul 9, 2026.
Analysis
HNAC Technology Co (300490) currently trades at ¥11.92, while our model-based Fair Value estimate is ¥3.60, implying the stock looks roughly 69.8% overvalued today. The Quality Score stands at 35/100 (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: low).
Over the trailing twelve months, HNAC Technology Co generated revenue of 2.9B CNY at a net margin of -3.4%. Revenue grew 186.3% year over year. It earns a return on equity of -5.8%. Net debt stands at 462M CNY. Fundamentals as of Jul 9, 2026
Our scenario range runs from ¥2.68 (bear case) to ¥5.37 (bull case); at ¥11.92, 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 46% below its 52-week high and 51% 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 -70%, 300490 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.
All 2 models by family
Widest divergence: Asset-Based (¥3.60) versus Multiples (¥1.34). Highest evidence: EV/EBITDA (54).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 9, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 33 · Market factors (momentum, volatility) 41
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
HNAC Technology Co., Ltd., together with its subsidiaries, provides intelligent control software and hardware products and system solutions in China and internationally.
Full company description
HNAC Technology Co., Ltd., together with its subsidiaries, provides intelligent control software and hardware products and system solutions in China and internationally. The company offers energy products, including battery packs, zero carbon cabins, charging piles, energy storage converters, and EMS, as well as residential, commercial, and industrial energy storage systems; hydropower products, such as hydraulic turbines, turbine inlet valves, speed regulators, generators, and excitation systems; mechanical and electrical equipment comprising microcomputer protection measurement and control devices, monitoring and protection system devices, medium and high voltage switchgears, AC&DC systems, and SCADA systems; and measurement meters. It also provides engineering contractor services for new energy, hydropower station, substation, pump station, and water treatment projects; and operation and maintenance services for power station, hydraulic, renewable energy, water plant, and distribution network. In addition, the company offers EPC contracting; installation and commissioning; project investment and financing; rehabilitation and modernization; consulting and design; operation and maintenance; equipment manufacturing and assembly; and technical training. It serves hydropower, new energy and energy storage, power transformation and distribution, and water treatment and conservancy industries. The company was founded in 1993 and is headquartered in Changsha, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
HNAC Technology Co reported revenue of ¥2.3B in FY2025 versus ¥2.2B in FY2021, a compound +1.4%/yr. Reported net income was −¥254M in FY2025.
300490 screens 70% overvalued. Compare with Contemporary Amperex Technology Co →
Peer Group
Electrical Equipment & Parts · 528 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 Electrical Equipment & Parts 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.
Similar stocks
10 more Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Jul 9, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Contemporary Amperex Technology Co 3750 | HK$675.50 | HK$391.44 | -42% |
| ABB Ltd ABBN | CHF 83.82 | CHF 35.46 | -58% |
| Delta Electronics (Thailand) Public Company TDED | 10.16 SGD | 1.47 SGD | -86% |
| LG Energy Solution, Ltd 373220 | 334,000 KRW | 201,455 KRW | -40% |
| WEG S.A WEGE3 | 13,210 ARS | 7,948 ARS | -40% |
| Sungrow Power Supply Co 300274 | ¥114.79 | ¥123.83 | +8% |
| Shenzhen Inovance Technology Co 300124 | ¥63.43 | ¥33.04 | -48% |
| HD Hyundai Electric Co 267260 | 823,000 KRW | 371,133 KRW | -55% |
| LS ELECTRIC Co 010120 | 190,000 KRW | 31,517 KRW | -83% |
| Sieyuan Electric Co 002028 | ¥151.73 | ¥71.69 | -53% |
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Frequently asked questions
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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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