China Energy Engineering Corp (3996) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of China Energy Engineering Corp HK$2.22, price HK$1.04, upside +113.5%, quality 41 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range HK$0.5750 – HK$1.60 · fair‑value band HK$1.74 – HK$2.89 · the HK$1.04 price screens below the HK$2.22 fair value. Dashed = 300-day average. As of Sep 27, 2026.
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China Energy Engineering Corporation Limited provides solutions and services in the energy, power and infrastructure sectors in the People's Republic of China and internationally. It operates through five segment: Survey, Design and Consulting; Construction and contracting; Industrial manufacturing; Industrial manufacturing; and others.
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China Energy Engineering Corporation Limited provides solutions and services in the energy, power and infrastructure sectors in the People's Republic of China and internationally. It operates through five segment: Survey, Design and Consulting; Construction and contracting; Industrial manufacturing; Industrial manufacturing; and others. The company offers planning and research, consulting, evaluation, engineering survey, design, supervision, project management, preparation, and specification services for domestic and foreign thermal power, hydropower, nuclear power, wind power, solar power generation, and power grid projects, as well as consulting services for power industry. It is also involved in the provision of project contracting, engineering and construction, and project operation and maintenance to domestic and overseas tradition energy, new energy, smart energy, water conservancy, ecological environmental protection, transportation, municipal, buildings, and structures. In addition, the company designs, manufactures, and sells construction materials, civil explosives, cement products, auxiliary machinery and equipment, energy-saving and environmental protection equipment, and other equipment related to the power industry, as well as provides blasting services, as well as engages in the investment and operation of traditional and new energy, smart energy, water conservancy, ecological environmental protection, and transportation projects; provision of financial services; and investment and development of real estate properties. Further, it provides logistics and trading, leasing and commercial business, software and information, and other services, as well as involved in project investment; asset and supply chain management; and Building construction investment business. The company was incorporated in 2014 and is headquartered in Beijing, the People's Republic of China.
Stock analysis
China Energy Engineering Corp (3996) currently trades at HK$1.04, while our model-based Fair Value estimate is HK$2.22, implying the stock looks roughly 53.2% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of HK$2.32 per share, and 12 of the 14 models we run sit above the HK$1.04 price.
Bear case: the Dividend Discount group reads lowest at HK$0.3900, and 2 of the 14 models stay below the price. Evidence for this calculation is low.
Scenario range: HK$1.74 (bear) to HK$2.89 (bull), the price of HK$1.04 sits below 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 41/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
China Energy Engineering Corp reported revenue of HK$441B in FY2025 versus HK$322B in FY2021, a compound +8.1%/yr. Reported net income was HK$5.7B in FY2025, compounding −3.3%/yr from FY2021.
Key figures
Market cap HK$50.0B (≈ $6.4B) · P/E ratio 7.5 · P/S ratio 0.10 · EPS (TTM) HK$0.1470 · Dividend yield 2.1% · Net margin 1.3% · Return on equity 4.4% · Return on assets (EBIT) 2.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 32% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −34% fair-value upside, at 113%, 3996 screens cheaper than that median.
Fair Value models
Bear HK$1.74Fair Value HK$2.22Bull HK$2.89
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (HK$0.1104 per share) are deliberately not added.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.
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.50/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+0.9%
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.
+6.3%
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.
+10.3%
Start year 2020 (pandemic). Over 10 years: +7.9% a year
Revenue growth 13 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.
+9.3%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−4.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−6.4%
Dividend (yield on the price)2.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−6.4% vs −1.1%, slowing
Profit margin 2020 to 2025 ⓘ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% → 4%
Compare China Energy Engineering Corp with another stock
Price, fair value, quality and upside side by side.
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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.Engineering & Construction · 798 stocks
Beats the industry median on 5/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score41 · Below median
Fair Value upside+113.5% · Top 25%
Profitability
Return on equity (TTM)4.4% · Below median
Return on assets1.4% · Below median
Net margin (TTM)1.3% · Below median
Operating margin (TTM)4.6% · Below median
Growth and dividend
Revenue growth1.6% · Below median
Dividend yield (TTM)2.1% · Above median
Balance sheet
Debt / equity2.24× · Highest 25%
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
P/E (TTM)7.5× · Cheapest 25%
P/B0.45× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "China Energy Engineering Corp Fair Value". https://www.fairvalue-calculator.com/stock/3996
Frequently asked questions
Is China Energy Engineering Corp (3996) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$2.22 versus a price of HK$1.04, about +113% upside (undervalued).
What is the fair value of 3996?
Our model-based fair value for China Energy Engineering Corp is HK$2.22 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$1.04.
What is the quality score of 3996?
China Energy Engineering Corp 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 price target for China Energy Engineering Corp (3996)?
Our model-based price target is the fair value of HK$2.22 (as of Sep 27, 2026) from 16 valuation models. Cautious scenario HK$1.74, optimistic scenario HK$2.89. It is a calculation from audited fundamentals, not an analyst target.
What is the China Energy Engineering Corp stock forecast for 2026?
Our models put fair value at HK$2.22, about +113% upside versus a price of HK$1.04 (undervalued). Cautious scenario HK$1.74, optimistic scenario HK$2.89. The calculation is refreshed regularly with new filings.
What is the revenue of China Energy Engineering Corp (3996)?
China Energy Engineering Corp reported trailing-twelve-month revenue of about HK$455B (latest available figure, as of Sep 27, 2026).
Does China Energy Engineering Corp pay a dividend?
China Energy Engineering Corp currently shows a dividend yield of about 2.13% relative to its recent price (as of Sep 27, 2026).
What is the intrinsic value of China Energy Engineering Corp (3996)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For China Energy Engineering Corp it is HK$2.22 per share (as of Sep 27, 2026), against a price of HK$1.04. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is China Energy Engineering Corp stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 3996 trades below its calculated fair value: price HK$1.04, fair value HK$2.22, a gap of about +113% (undervalued). 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 3996?
No. The price is what the market pays today (HK$1.04); the fair value is what the company's own numbers justify (HK$2.22). For China Energy Engineering Corp the two are HK$1.18 per share apart. That gap is exactly why we show both numbers side by side.
How much is China Energy Engineering Corp worth?
The market values China Energy Engineering Corp at about HK$50.0B (market capitalisation, as of Sep 27, 2026). Per share that is HK$1.04; our models calculate a fair value of HK$2.22 per share.
What do the bullish and bearish scenarios say about 3996?
Our models span a range for China Energy Engineering Corp: cautious scenario HK$1.74, base HK$2.22, optimistic HK$2.89 per share (as of Sep 27, 2026, price HK$1.04). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3996?
China Energy Engineering Corp trades at a price-to-earnings ratio of 7.5 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$2.22 is built from several models across several years. Other multiples: P/B 0.5, P/S 0.1, EV/EBITDA 6.8.
How solid is the balance sheet of China Energy Engineering Corp (3996)?
Balance-sheet figures for China Energy Engineering Corp (as of Sep 27, 2026): return on equity 4.4%, debt of 2.24 per unit of equity. They feed the Quality Score of 41/100, which measures business quality independently of the share price.
How far is 3996 from its 52-week high?
China Energy Engineering Corp trades at HK$1.04, about 32% below its 52-week high of HK$1.52 and 3% above the low of HK$1.01 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of HK$2.22 is for.
Which stocks are comparable to China Energy Engineering Corp?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, 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 China Energy Engineering Corp stock attractive at the current price?
The data as of Sep 27, 2026: price HK$1.04, calculated fair value HK$2.22 (+113%), Quality Score 41/100, from 16 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 3996 calculated?
We run China Energy Engineering Corp through 16 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 HK$2.22, 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 14.7 % above its aggregate fair value. China Energy Engineering Corp currently trades 53 % below its own fair value, and the market average says nothing about that. 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 China Energy Engineering Corp (3996)?
The closing price on Sep 30, 2026 was HK$1.04. Our model-based fair value is HK$2.22, about +113% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with China Energy Engineering Corp right now?
The large discount to fair value meets weak quality (41/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (HK$1.74). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Where does the earnings growth of China Energy Engineering Corp (3996) come from?
Earnings per share at China Energy Engineering Corp grew −0.1 % a year from 2014 to 2025. Broken into its drivers: revenue per share +0.3 %, EBIT margin −4.2 %, tax rate +1.0 %, residual (interest, one-offs) +2.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of China Energy Engineering Corp
How large is the market capitalisation of China Energy Engineering Corp (3996)?
The market capitalisation of China Energy Engineering Corp is HK$50.0B (≈ $6.4B). 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 China Energy Engineering Corp (3996)?
The price-to-sales ratio of China Energy Engineering Corp is 0.10 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of China Energy Engineering Corp (3996)?
Earnings per share at China Energy Engineering Corp are HK$0.1470 (price ÷ EPS = P/E 7.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of China Energy Engineering Corp (3996)?
The dividend yield of China Energy Engineering Corp is 2.1% (payout 15.1%). 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 China Energy Engineering Corp (3996)?
The net margin of China Energy Engineering Corp is 1.3% (fiscal year 2025). 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 China Energy Engineering Corp (3996)?
The return on equity (ROE) of China Energy Engineering Corp is 4.4% (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 China Energy Engineering Corp (3996)?
On an EBIT basis the return on assets of China Energy Engineering Corp is 2.2% (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 China Energy Engineering Corp (3996)?
The operating margin of China Energy Engineering Corp is 4.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at China Energy Engineering Corp (3996)?
Revenue at China Energy Engineering Corp is growing +1.6% versus a year earlier (3y avg +6.3%). 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 China Energy Engineering Corp (3996)?
Earnings per share at China Energy Engineering Corp are growing −8.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does China Energy Engineering Corp (3996) generate?
The free cash flow of China Energy Engineering Corp is −HK$28.6B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does China Energy Engineering Corp (3996) carry?
The net debt of China Energy Engineering Corp is HK$265B (fiscal year 2025). 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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