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Zhongmin Energy Co (600163) Fair Value & Analysis

Utilities · CN · Market cap 10.1B CNY

ZE Zhongmin Energy Co 600163 · SHG
Price¥5.25
Fair Value¥4.93
Upside-6.1%
Quality67/100
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Mixed Growth
Highly profitable · 30.0% net margin
Low debt · generates free cash flow
0.56% dividend yield
Ranks above peers (9/14)
Moderate moat 64/100
Evidence: High Range ¥3.70 – ¥6.17 Share as image

Fair value as of: Aug 6, 2026

From 24 valuation models · updated 4 days ago

Share price +10.1% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from ¥3.70 (bear) to ¥6.17 (bull), base ¥4.93. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 67/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

¥10.39 ¥3.40 Fair Value ¥4.93 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 ¥3.40 – ¥10.39 · fair‑value band ¥3.70 – ¥6.17 · the ¥5.25 price screens above the ¥4.93 fair value. Dashed = 300-day average. As of Aug 6, 2026.

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Analysis

Zhongmin Energy Co (600163) currently trades at ¥5.25, while our model-based Fair Value estimate is ¥4.93, implying the stock looks roughly 6.1% fairly valued today. The Quality Score stands at 67/100 (solid 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, Zhongmin Energy Co generated revenue of 1.6B CNY at a net margin of 30.0%. Revenue declined 9.8% year over year. It earns a return on equity of 6.8%. Net debt stands at 644M CNY. Fundamentals as of Aug 6, 2026

Our scenario range runs from ¥3.70 (bear case) to ¥6.17 (bull case); at ¥5.25, the current price sits within 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 40% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -30% fair-value upside, at -6%, 600163 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
Growth DCF ¥10.89 ¥14.86 ¥20.24 80
Residual Income ¥3.07 ¥3.26 ¥3.54 76
ROIC Compounder ¥4.19 ¥4.99 ¥5.89 72
All 24 models by family
DCF Models
FCF DCF ¥10.57 ¥14.80 ¥20.75 38
Owner Earnings ¥5.19 ¥7.15 ¥9.91 31
5Y Revenue Exit ¥5.09 ¥6.05 ¥7.11 39
5Y EBITDA Exit ¥7.18 ¥9.72 ¥12.47 41
5Y P/E Exit ¥6.26 ¥8.11 ¥9.89 38
10Y Revenue Exit ¥7.03 ¥8.25 ¥9.54 36
10Y EBITDA Exit ¥8.37 ¥10.71 ¥13.42 37
10Y P/E Exit ¥7.80 ¥9.63 ¥11.55 35
Earnings-Based
Graham-Dodd ¥1.86 ¥4.08 ¥5.20 54
PEG = 1.0 ¥0.6500 ¥0.9200 ¥1.20 46
EPV ¥4.14 ¥4.74 ¥5.26 59
Dividend Discount
Gordon GGM ¥1.09 ¥1.72 ¥2.42 70
DDM Multi-Stage ¥1.09 ¥1.58 ¥2.12 61
Multiples
P/E Multiple ¥3.70 ¥4.93 ¥6.17 63
P/S Multiple ¥1.58 ¥2.11 ¥2.64 58
P/B Multiple ¥3.49 ¥4.66 ¥5.82 55
EV/EBIT ¥5.56 ¥7.22 ¥8.89 53
EV/EBITDA ¥5.90 ¥7.69 ¥9.47 54
EV/Revenue ¥2.03 ¥2.66 ¥3.30 43
Asset-Based
NCAV (Graham) ¥1.87 ¥2.51 ¥3.75 50
Growth DCF
Growth DCF ¥10.89 ¥14.86 ¥20.24 80
Economic Profit
Residual Income ¥3.07 ¥3.26 ¥3.54 76
ROIC Compounder ¥4.19 ¥4.99 ¥5.89 72
Growth Earnings
Growth-Adj P/E ¥2.77 ¥3.96 ¥5.15 68

Widest divergence: Growth DCF (¥14.86) versus Dividend Discount (¥1.58). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 1.6B CNY
Revenue growth (YoY) -9.8%
Net margin 30.0%
Return on equity 6.8%
Free cash flow 1.8B CNY FY2025
P/E ratio 26.0
More key figures
Operating margin 60.9%
EPS (TTM) ¥0.2400
Dividend yield 0.5%
EPS growth (YoY) -23.1%
Net debt 644M CNY FY2024

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

Quality Score breakdown

Overall quality 67/100

Of which business quality 68 · Market factors (momentum, volatility) 35

Profitability 38
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 98
Earnings quality: real cash, not paper profit
Fin. Strength 78
Balance sheet, leverage, solvency risk
Investment 69
Disciplined investing over empire-building
Low Volatility 65
Calm price path (market factor)
Momentum 22
Price trend over the last 3–12 months (market factor)
52W Momentum 22
Distance to the 52-week high (market factor)
Net Issuance 82
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

Zhongmin Energy Co., Ltd. focuses on the development, construction, investment, and operation of new energy power generation projects in China. The company generates electricity from wind power generation, photovoltaic power generation, and biomass power generation. The company was formerly known as Nanzhi Co Ltd.

Full company description

Zhongmin Energy Co., Ltd. focuses on the development, construction, investment, and operation of new energy power generation projects in China. The company generates electricity from wind power generation, photovoltaic power generation, and biomass power generation. The company was formerly known as Nanzhi Co Ltd. and changed its name to Zhongmin Energy Co., Ltd. in December 2015. Zhongmin Energy Co., Ltd. was founded in 1998 and is based in Fuzhou, China. Zhongmin Energy Co., Ltd. operates as a subsidiary of Fujian Investment & Development Group Co.,Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Zhongmin Energy Co reported revenue of ¥1.6B in FY2025 versus ¥1.6B in FY2021, a compound +0.8%/yr. Reported net income was ¥522M in FY2025, compounding −6.5%/yr from FY2021.

Growth Quality 68/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
1.6B CNY
Latest YoY
−7.7%
Avg. growth/yr (3Y)
−3.5%
Avg. growth/yr (5Y)
+5.1%
Avg. growth/yr (30Y)
+2.9%
Revenue +0.8%/yr
FY21 ¥1.6B
FY22 ¥1.8B
FY23 ¥1.7B
FY24 ¥1.7B
FY25 ¥1.6B
Net income −6.5%/yr
FY21 ¥682M
FY22 ¥729M
FY23 ¥678M
FY24 ¥651M
FY25 ¥522M

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Cite: Fair Value Calculator (2026). "Zhongmin Energy Co Fair Value". https://www.fairvalue-calculator.com/stock/600163

Peer Group

Utilities - Renewable · 220 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 67 · Top 25%
Fair Value upside −6% · Above median
Return on equity (TTM) 7% · Above median
Return on assets 4% · Top 25%
Net margin (TTM) 30% · Top 25%
Operating margin (TTM) 61% · Top 25%
Revenue growth -10% · Below median
Dividend yield (TTM) 0.6% · Below median
Debt / equity 0.13× · Lower than 75% of peers

Valuation Multiples vs Utilities - Renewable median · lower = cheaper

P/E (TTM) 22.1× · Pricier than median
P/B 1.42× · Pricier than median
P/S (TTM) 6.49× · Pricier than 75% of peers
P/FCF 0.8× · Cheaper than median
EV/EBITDA 7.1× · Cheaper 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 25 · sector 15
FUTURE 0 · sector 0
PAST 27 · sector 12
HEALTH 93 · sector 68
DIVIDEND 11 · sector 48

Insider activity: 25/100

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

Stock Price Fair Value vs Fair Value
China Yangtze Power Co 600900 ¥27.99 ¥25.13 -10%
Ørsted A/S ORSTED kr 149.70 kr 31.40 -79%
Huaneng Lancang River Hydropower Inc 600025 ¥9.81 ¥5.57 -43%
Adani Green Energy Limited ADANIGREEN ₹1,537 ₹170.50 -89%
AXIA Energia SA AXIAP $10.74 $9.65 -10%
VERBUND AG OEWA €58.65 €66.19 +13%
BEP BEP $32.33 $73.35 +127%
BEPUN BEPUN C$44.56 C$10.15 -77%
Fortum Oyj FORTUM €19.89 €13.90 -30%
China Longyuan Power Group 001289 ¥16.21 ¥8.23 -49%

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Frequently asked questions

Is Zhongmin Energy Co (600163) overvalued or undervalued?
As of Aug 6, 2026, our model estimates a fair value of ¥4.93 versus a price of ¥5.25, about −6% (fairly valued).
What is the fair value of 600163?
Our model-based fair value for Zhongmin Energy Co is ¥4.93 (as of Aug 6, 2026), built from audited fundamentals. The current price is ¥5.25.
What is the quality score of 600163?
Zhongmin Energy Co has a Quality Score of 67/100. 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 Zhongmin Energy Co (600163)?
Zhongmin Energy Co reported trailing-twelve-month revenue of about 1.6B CNY (latest available figure, as of Aug 6, 2026).
What is the net profit margin of 600163?
The net profit margin of Zhongmin Energy Co is about 30.0%, meaning it keeps roughly 30.0% of revenue as net income. Based on the latest reported figures.
Does Zhongmin Energy Co pay a dividend?
Zhongmin Energy Co currently shows a dividend yield of about 0.53% 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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