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Zhejiang Zhengguang Industrial Co (301092) Fair Value & Analysis

Basic Materials · CN · Market cap 6.8B CNY

ZZ Zhejiang Zhengguang Industrial Co 301092 · SHE
Price¥44.80
Fair Value¥10.36
Upside-76.9%
Quality58/100
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Expensive Growth
Solidly profitable · 14.5% net margin
Low debt · negative free cash flow
Mixed vs. peers (6/13)
Moderate moat 46/100
Evidence: Medium Range ¥7.72 – ¥12.99 Share as image

Fair value as of: Jul 9, 2026

From 14 valuation models · updated 32 days ago

Share price −13.5% over the past month.

A solid business, but screening 77% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥12.99). The favourable scenario is already priced in.
  • Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥61.82 ¥16.38 Fair Value ¥10.36 Nov 2021 Aug 2026

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

57‑month range ¥16.38 – ¥61.82 · fair‑value band ¥7.72 – ¥12.99 · the ¥44.80 price screens above the ¥10.36 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 9, 2026.

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Analysis

Zhejiang Zhengguang Industrial Co (301092) currently trades at ¥44.80, while our model-based Fair Value estimate is ¥10.36, implying the stock looks roughly 76.9% overvalued today. The Quality Score stands at 58/100 (solid quality), in the Basic Materials 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: medium).

Over the trailing twelve months, Zhejiang Zhengguang Industrial Co generated revenue of 645M CNY at a net margin of 14.5%. Revenue declined 5.2% year over year. It earns a return on equity of 4.8%. Net debt stands at 24.1M CNY. Fundamentals as of Jul 9, 2026

Our scenario range runs from ¥7.72 (bear case) to ¥12.99 (bull case); at ¥44.80, 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 15% below its 52-week high and 56% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -46% fair-value upside, at -77%, 301092 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
Residual Income ¥11.03 ¥11.11 ¥10.50 76
ROIC Compounder ¥9.21 ¥10.07 ¥10.80 72
Growth-Adj P/E ¥7.13 ¥10.19 ¥13.25 68
All 14 models by family
Earnings-Based
Graham-Dodd ¥5.07 ¥17.90 ¥24.09 54
Lynch FV ¥4.19 ¥5.98 ¥7.78 50
PEG = 1.0 ¥4.19 ¥5.98 ¥7.78 46
EPV ¥9.21 ¥10.07 ¥10.80 59
Multiples
P/E Multiple ¥9.50 ¥12.67 ¥15.84 63
P/S Multiple ¥5.45 ¥7.26 ¥9.08 58
P/B Multiple ¥9.50 ¥12.67 ¥15.84 55
EV/EBIT ¥11.71 ¥14.35 ¥16.98 53
EV/EBITDA ¥11.03 ¥13.44 ¥15.85 54
EV/Revenue ¥8.89 ¥11.07 ¥13.25 43
Asset-Based
NCAV (Graham) ¥7.28 ¥9.76 ¥14.57 50
Economic Profit
Residual Income ¥11.03 ¥11.11 ¥10.50 76
ROIC Compounder ¥9.21 ¥10.07 ¥10.80 72
Growth Earnings
Growth-Adj P/E ¥7.13 ¥10.19 ¥13.25 68

Widest divergence: Multiples (¥12.67) versus Earnings-Based (¥5.98). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 645M CNY
Revenue growth (YoY) -5.2%
Net margin 14.5%
Return on equity 4.8%
Free cash flow −251M CNY FY2025
P/E ratio 72.0
More key figures
Operating margin 13.9%
EPS (TTM) ¥0.7000
EPS growth (YoY) -27.8%
Net debt 24.1M CNY FY2019

Figures from reported company fundamentals · as of Jul 9, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 57 · Market factors (momentum, volatility) 69

Profitability 33
Margins and returns on capital today
Quality Growth 66
Are margins and returns improving?
Cashflow 27
Earnings quality: real cash, not paper profit
Fin. Strength 96
Balance sheet, leverage, solvency risk
Investment 49
Disciplined investing over empire-building
Low Volatility 45
Calm price path (market factor)
Momentum 82
Price trend over the last 3–12 months (market factor)
52W Momentum 74
Distance to the 52-week high (market factor)
Net Issuance 78
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

Zhejiang Zhengguang Industrial Co., Ltd. engages in the research, development, manufacturing, and sale of ion exchange resins, biochemical separation mediums, and macroporous adsorbents in China.

Full company description

Zhejiang Zhengguang Industrial Co., Ltd. engages in the research, development, manufacturing, and sale of ion exchange resins, biochemical separation mediums, and macroporous adsorbents in China. Its products portfolio includes general, dual and floating bed, mixed bed, acrylic acid, chelation, hydrometallurgical, catalyst, decolorizing, indicator, powdered, and uniform particle size resins; and potable water treatment products, as well as resins for the sweetener industry. The company was founded in 1969 and is based in Hangzhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Zhejiang Zhengguang Industrial Co reported revenue of ¥652M in FY2025 versus ¥451M in FY2021, a compound +9.6%/yr. Reported net income was ¥100M in FY2025, compounding +8.0%/yr from FY2021.

Growth Quality 37/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
652M CNY
Latest YoY
+13.9%
Avg. growth/yr (3Y)
−1.2%
Avg. growth/yr (5Y)
+5.7%
Avg. growth/yr (6Y)
+6.9%
Revenue +9.6%/yr
FY21 ¥451M
FY22 ¥676M
FY23 ¥526M
FY24 ¥572M
FY25 ¥652M
Net income +8.0%/yr
FY21 ¥73.7M
FY22 ¥178M
FY23 ¥109M
FY24 ¥103M
FY25 ¥100M

301092 screens 77% overvalued. Compare with BASF SE →

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Cite: Fair Value Calculator (2026). "Zhejiang Zhengguang Industrial Co Fair Value". https://www.fairvalue-calculator.com/stock/301092

Peer Group

Chemicals · 334 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 58 · Above median
Fair Value upside −77% · Bottom 25%
Return on equity (TTM) 5% · Above median
Return on assets 3% · Above median
Net margin (TTM) 15% · Top 25%
Operating margin (TTM) 14% · Top 25%
Revenue growth -5% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Chemicals median · lower = cheaper

P/E (TTM) 72.0× · Pricier than 75% of peers
P/B 3.46× · Pricier than 75% of peers
P/S (TTM) 10.52× · Pricier than 75% of peers
EV/EBITDA 49.9× · Pricier than 75% of peers

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 0 · sector 20
PAST 19 · sector 19
HEALTH 99 · sector 94
DIVIDEND 0 · sector 27

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 Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 9, 2026).

Stock Price Fair Value vs Fair Value
BASF SE BASN 1,034 MXN 532.13 MXN -49%
Ningxia Baofeng Energy Group 600989 ¥20.32 ¥20.17 -1%
Zhejiang Juhua Co 600160 ¥42.85 ¥23.35 -46%
PT Barito Pacific Tbk, BRPT 1,690 IDR 1,628 IDR -4%
LG Chem, Ltd 051910 260,500 KRW 587,755 KRW +126%
Formosa Chemicals & Fibre Corporation 1326 66.10 TWD 6.79 TWD -90%
PTT Global Chemical Public Company PTTGC 35.50 THB 18.21 THB -49%
542812 542812 ₹4,369 ₹791.05 -82%
Indorama Ventures Public Company IVL 24.50 THB 17.95 THB -27%
Navin Fluorine International Limited NAVINFLUOR ₹8,650 ₹2,146 -75%

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Frequently asked questions

Is Zhejiang Zhengguang Industrial Co (301092) overvalued or undervalued?
As of Jul 9, 2026, our model estimates a fair value of ¥10.36 versus a price of ¥44.80, about −77% (overvalued).
What is the fair value of 301092?
Our model-based fair value for Zhejiang Zhengguang Industrial Co is ¥10.36 (as of Jul 9, 2026), built from audited fundamentals. The current price is ¥44.80.
What is the quality score of 301092?
Zhejiang Zhengguang Industrial Co has a Quality Score of 58/100. 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 Zhejiang Zhengguang Industrial Co (301092)?
Zhejiang Zhengguang Industrial Co reported trailing-twelve-month revenue of about 645M CNY (latest available figure, as of Jul 9, 2026).
What is the net profit margin of 301092?
The net profit margin of Zhejiang Zhengguang Industrial Co is about 14.5%, meaning it keeps roughly 14.5% of revenue as net income. Based on the latest reported figures.

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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