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Sichuan Mingxing Electric Power Co (600101) Fair Value & Analysis

Utilities · CN · Market cap 4.6B CNY

SM Sichuan Mingxing Electric Power Co 600101 · SHG
Price¥8.23
Fair Value¥5.41
Upside-34.3%
Quality48/100
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Expensive Growth
Thin margins · 5.4% net margin
Low debt · negative free cash flow
0.84% dividend yield
Trails peers (3/13)
Narrow moat 31/100
Evidence: High Range ¥4.43 – ¥7.03 Share as image

Fair value as of: Aug 6, 2026

From 17 valuation models · updated 4 days ago

Fair value updated Aug 6, 2026, revised from ¥5.48 to ¥5.41 (−1.3%) since Jul 11, 2026. Share price +6.1% over the past month.

Below-average quality, and screening another 34% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥7.03). The favourable scenario is already priced in.
  • Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥12.99 ¥3.85 Fair Value ¥5.41 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 6, 2026.

How to read this chart

60‑month range ¥3.85 – ¥12.99 · fair‑value band ¥4.43 – ¥7.03 · the ¥8.23 price screens above the ¥5.41 fair value. Dashed = 300-day average. As of Aug 6, 2026.

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Analysis

Sichuan Mingxing Electric Power Co (600101) currently trades at ¥8.23, while our model-based Fair Value estimate is ¥5.41, implying the stock looks roughly 34.3% overvalued today. The Quality Score stands at 48/100 (below-average quality), in the Utilities 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, Sichuan Mingxing Electric Power Co generated revenue of 3.1B CNY at a net margin of 6.0%. Revenue grew 7.1% year over year. It earns a return on equity of 5.9%. The balance sheet holds a net cash position of 821M CNY. Fundamentals as of Aug 6, 2026

Our scenario range runs from ¥4.43 (bear case) to ¥7.03 (bull case); at ¥8.23, 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 32% below its 52-week high, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -48% fair-value upside, at -34%, 600101 screens cheaper 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 ¥4.37 ¥4.49 ¥4.46 76
ROIC Compounder ¥4.46 ¥4.96 ¥5.38 72
Gordon GGM ¥1.09 ¥2.17 ¥3.29 70
All 17 models by family
DCF Models
Owner Earnings ¥3.57 ¥5.12 ¥7.61 31
Earnings-Based
Graham-Dodd ¥2.28 ¥9.56 ¥13.04 54
Lynch FV ¥2.42 ¥3.46 ¥4.50 50
PEG = 1.0 ¥2.42 ¥3.46 ¥4.50 46
EPV ¥4.46 ¥4.96 ¥5.38 59
Dividend Discount
Gordon GGM ¥1.09 ¥2.17 ¥3.29 70
DDM Multi-Stage ¥1.09 ¥1.88 ¥2.29 61
Multiples
P/E Multiple ¥4.53 ¥6.04 ¥7.55 63
P/S Multiple ¥4.28 ¥5.71 ¥7.13 58
P/B Multiple ¥4.28 ¥5.71 ¥7.13 55
EV/EBIT ¥6.04 ¥7.61 ¥9.17 53
EV/EBITDA ¥7.22 ¥9.18 ¥11.14 54
EV/Revenue ¥5.14 ¥6.77 ¥8.40 43
Asset-Based
NCAV (Graham) ¥2.82 ¥3.77 ¥5.63 50
Economic Profit
Residual Income ¥4.37 ¥4.49 ¥4.46 76
ROIC Compounder ¥4.46 ¥4.96 ¥5.38 72
Growth Earnings
Growth-Adj P/E ¥3.78 ¥5.41 ¥7.03 68

Widest divergence: Multiples (¥6.04) versus Dividend Discount (¥1.88). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 3.1B CNY
Revenue growth (YoY) +7.1%
Net margin 6.0%
Return on equity 5.9%
Free cash flow −60.9M CNY FY2025
P/E ratio 26.9
More key figures
Operating margin 8.4%
EPS (TTM) ¥0.3400
Dividend yield 1.2%
EPS growth (YoY) +0.2%
Net cash 821M CNY FY2024

Figures from reported company fundamentals · as of Aug 6, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 48/100

Of which business quality 50 · Market factors (momentum, volatility) 33

Profitability 33
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 23
Earnings quality: real cash, not paper profit
Fin. Strength 92
Balance sheet, leverage, solvency risk
Investment 74
Disciplined investing over empire-building
Low Volatility 79
Calm price path (market factor)
Momentum 14
Price trend over the last 3–12 months (market factor)
52W Momentum 12
Distance to the 52-week high (market factor)
Net Issuance 40
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

Sichuan Mingxing Electric Power Co., Ltd. engages in production and supply of electricity and tap water business in China. The company offers power and water engineering design services. It also provides catering, accommodation, conference, and other services.

Full company description

Sichuan Mingxing Electric Power Co., Ltd. engages in production and supply of electricity and tap water business in China. The company offers power and water engineering design services. It also provides catering, accommodation, conference, and other services. In addition, the company is involved in the provision of operation and maintenance services; market-oriented electricity sales; energy management; electric vehicle charging business; and management and other business operations. Sichuan Mingxing Electric Power Co., Ltd. was founded in 1926 and is based in Suining, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Sichuan Mingxing Electric Power Co reported revenue of ¥3.0B in FY2025 versus ¥1.9B in FY2021, a compound +11.9%/yr. Reported net income was ¥184M in FY2025, compounding +10.5%/yr from FY2021.

Growth Quality 55/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
3.0B CNY
Latest YoY
+6.2%
Avg. growth/yr (3Y)
+8.3%
Avg. growth/yr (5Y)
+12.6%
Avg. growth/yr (31Y)
+14.7%
Revenue +11.9%/yr
FY21 ¥1.9B
FY22 ¥2.4B
FY23 ¥2.7B
FY24 ¥2.8B
FY25 ¥3.0B
Net income +10.5%/yr
FY21 ¥123M
FY22 ¥159M
FY23 ¥179M
FY24 ¥209M
FY25 ¥184M

600101 screens 34% overvalued. Compare with Iberdrola, S.A →

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Cite: Fair Value Calculator (2026). "Sichuan Mingxing Electric Power Co Fair Value". https://www.fairvalue-calculator.com/stock/600101

Peer Group

Utilities - Diversified · 51 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 48 · Above median
Fair Value upside −34% · Below median
Return on equity (TTM) 6% · Below median
Return on assets 3% · Above median
Net margin (TTM) 5% · Below median
Operating margin (TTM) 0% · Bottom 25%
Revenue growth -3% · Below median
Dividend yield (TTM) 0.8% · Bottom 25%
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Utilities - Diversified median · lower = cheaper

P/E (TTM) 25.2× · Pricier than median
P/B 1.48× · Pricier than median
P/S (TTM) 1.49× · Pricier than median
EV/EBITDA 10.1× · Pricier than median

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 14
FUTURE 0 · sector 0
PAST 24 · sector 33
HEALTH 99 · sector 49
DIVIDEND 17 · sector 80

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 Utilities - Diversified stocks, each showing price versus our Fair Value estimate (as of Aug 6, 2026).

Stock Price Fair Value vs Fair Value
Iberdrola, S.A IBE €21.25 €9.34 -56%
Enel SpA ENEL €10.28 €5.83 -43%
Engie SA 1ENGI €26.59 €17.39 -35%
Sempra SRE $93.15 $47.77 -49%
E.ON SE EOAN €19.34 €11.71 -39%
RWE Aktiengesellschaft generates and 1RWE €56.52 €29.64 -48%
ACWA Power Company 2082 198.20 SAR 25.38 SAR -87%
Brookfield Infrastructure Partners L.P. BIPUN C$55.05 C$17.66 -68%
EnBW Energie Baden-Württemberg AG EBK €69.00 €21.11 -69%
EDP, S.A EDP €4.41 €3.81 -14%

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Frequently asked questions

Is Sichuan Mingxing Electric Power Co (600101) overvalued or undervalued?
As of Aug 6, 2026, our model estimates a fair value of ¥5.41 versus a price of ¥8.23, about −34% (overvalued).
What is the fair value of 600101?
Our model-based fair value for Sichuan Mingxing Electric Power Co is ¥5.41 (as of Aug 6, 2026), built from audited fundamentals. The current price is ¥8.23.
What is the quality score of 600101?
Sichuan Mingxing Electric Power Co 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 revenue of Sichuan Mingxing Electric Power Co (600101)?
Sichuan Mingxing Electric Power Co reported trailing-twelve-month revenue of about 3.1B CNY (latest available figure, as of Aug 6, 2026).
What is the net profit margin of 600101?
The net profit margin of Sichuan Mingxing Electric Power Co is about 6.0%, meaning it keeps roughly 6.0% of revenue as net income. Based on the latest reported figures.
Does Sichuan Mingxing Electric Power Co pay a dividend?
Sichuan Mingxing Electric Power Co currently shows a dividend yield of about 1.21% relative to its recent price (as of Aug 6, 2026).

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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