Xining Special Steel Co Ltd (600117) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Xining Special Steel Co Ltd stock ¥0.23, price ¥2.00, that is 88.5% below the price, quality 35 out of 100. Rating: strongly overvalued. Calculated from audited financials with 5 of our 26 valuation models and 37 quality factors, updated daily.
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Xining Special Steel Co Ltd
600117 · SHGOur calculation puts a fair price 89% below what the stock costs today.
What runs behind every stock
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range ¥1.90 – ¥5.22 · fair‑value band ¥0.1700 – ¥0.3000 · the ¥2.00 price screens above the ¥0.2300 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 3 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 6, 2026.
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Company profile
Xining Special Steel. Co.,Ltd engages in the smelting, rolling, and processing of special steel products in China. It operates through four segments: Real Estate Development and Sales, Steelmaking and Rolling Steel division, Comprehensive Resource Utilization, and Commerce and Other.
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The company provides carbon structural steel, carbon industrial steel, alloy structural steel, alloy industrial steel, bearing steel, die steel, stainless steel, and spring steel; and hot-rolled bars, forged bars, cold-drawn silver bright material, special-shaped electroslag castings, and other products.
It is also involved in the research and development and promotion of new smelting technologies and new aluminum alloy materials; mineral products, metallurgical castings and metallurgical furnace materials, iron art, building materials, construction materials, etc.; production and sales of blast furnace pig iron; sintered ore and pelletized ore; slag, fire slag, iron slag, coke, coke powder, coke diced, etc.; and providing mining technical and mining product management.
Its products are used in automobiles, engineering machinery, railways, ships, petrochemicals, mining machinery, coal machinery, new energy, national important equipment, and other industries. Xining Special Steel. Co.,Ltd was founded in 1997 and is based in Xining, China.
Stock analysis
Xining Special Steel Co Ltd (600117) currently trades at ¥2.00, while our model-based Fair Value estimate is ¥0.2300, 89% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of ¥0.6100 per share, and 0 of the 5 models we run sit above the ¥2.00 price.
Bear case: the DCF Models group reads lowest at ¥0.2300, and 5 of the 5 models stay below the price. Data coverage for this calculation is low.
Scenario range: ¥0.1700 (bear) to ¥0.3000 (bull), the price of ¥2.00 sits above 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 35/100 (below-average quality), in the Basic Materials sector.
Mixed Growth: Spin-off in 2000: revenue and profit before it include the divested business. Growth is measured afresh from 2000.
Xining Special Steel Co Ltd reported revenue of 5.9B CNY in FY2025 versus 12.2B CNY in FY2021, a compound −16.6%/yr. Reported net income was −900M CNY in FY2025.
Key figures
Market cap 6.5B CNY (≈ $977M) Small · P/S ratio 1.11 · EPS (TTM) ¥−0.3000 · Dividend yield 2.0% · Net margin −16.7% · Return on equity −21.2% · Return on assets (EBIT) −5.7% (5-year average) · Operating margin −18.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 10 out of 100 (medium confidence).
What moves the price
The share trades about 38% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −34% fair-value upside, at −89%, 600117 screens richer than that median.
Fair Value models
All 5 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
Growth Forecast
600117 screens overvalued: fair value 89% below the price. Compare with Nucor Corporation →
Compare Xining Special Steel Co Ltd with another stock
Price, fair value, quality and upside side by side.
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.Steel · 410 stocks
Valuation Multiplesvs Steel median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Materials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- P/B ratio by industry
- Net margin by industry
- Piotroski F-Score screener with fair value
- Undervalued stocks: Chinese Stocks
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Steel stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Baoshan Iron & Steel Co 600019 | ¥6.11 | ¥8.07 | +32% | vs 600117 |
| POSCO Holdings PKX | $48.90 | $44.09 | −10% | vs 600117 |
| Tata Steel Limited TATASTEEL | ₹186.30 | ₹148.06 | −21% | vs 600117 |
| JSW Steel Limited JSWSTEEL | ₹1,357 | ₹1,029 | −24% | vs 600117 |
| ArcelorMittal S.A MT | €54.82 | €36.10 | −34% | vs 600117 |
| Reliance, Inc RS | $417.00 | $211.54 | −49% | vs 600117 |
| Nucor Corporation NUE | $244.97 | $116.49 | −52% | vs 600117 |
| Jindal Steel Limited JINDALSTEL | ₹1,165 | ₹516.03 | −56% | vs 600117 |
| Steel Dynamics, Inc STLD | $222.90 | $89.54 | −60% | vs 600117 |
| Inner Mongolia Baotou Steel Union Co 600010 | ¥1.99 | ¥0.5400 | −73% | vs 600117 |
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Frequently asked questions
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