Heilongjiang Interchina Water Treatment Co (600187) Fair Value & Analysis
Utilities · CN · Market cap 2.2B CNY
Fair value as of: Aug 7, 2026
From 8 valuation models · updated 4 days ago
Share price −8.8% over the past month.
Below-average quality, and screening another 77% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (¥0.3700). The favourable scenario is already priced in.
- Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 7, 2026.
How to read this chart
60‑month range ¥1.23 – ¥5.08 · fair‑value band ¥0.2600 – ¥0.3700 · the ¥1.35 price screens above the ¥0.3100 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 7, 2026.
Analysis
Heilongjiang Interchina Water Treatment Co (600187) currently trades at ¥1.35, while our model-based Fair Value estimate is ¥0.3100, implying the stock looks roughly 77.0% overvalued today. The Quality Score stands at 43/100 (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: medium).
Over the trailing twelve months, Heilongjiang Interchina Water Treatment Co generated revenue of 221M CNY at a net margin of -88.7%. Revenue declined 2.8% year over year. It earns a return on equity of -6.1%. The balance sheet holds a net cash position of 165M CNY. Fundamentals as of Aug 7, 2026
Our scenario range runs from ¥0.2600 (bear case) to ¥0.3700 (bull case); at ¥1.35, 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 60% below its 52-week high and 14% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -10% fair-value upside, at -77%, 600187 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.
All 8 models by family
Widest divergence: Asset-Based (¥1.23) versus Dividend Discount (¥0.0200). Highest evidence: ROIC Compounder (72).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 7, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 42 · Market factors (momentum, volatility) 25
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
Heilongjiang Interchina Water Treatment Co.,Ltd, together with its subsidiaries, engages in the water supply, drainage, and sewage treatment businesses in China. It operates through Sewage Treatment, Heating, and Others segments. The company engages in sewage and water treatment; clean energy heating; and environmental protection engineering EPC activities.
Full company description
Heilongjiang Interchina Water Treatment Co.,Ltd, together with its subsidiaries, engages in the water supply, drainage, and sewage treatment businesses in China. It operates through Sewage Treatment, Heating, and Others segments. The company engages in sewage and water treatment; clean energy heating; and environmental protection engineering EPC activities. It is also involved in environmental engineering design; environmental pollution control management facilities operation; import and export of goods and technology; engineering consulting; construction project management and investment; new energy; sale of chemical products and environmental protection equipment; environmental and field technology development; consulting inquiry; technology transfer and technical consulting; business; investment management; environmental protection project investment; management; water supply and drainage projects and works; agricultural technology; purchase and sale of agriculture and aquatic products; breeding; and new energy technology promotion and application services. The company was formerly known as Heilongjiang Heilong Co., Ltd. Heilongjiang Interchina Water Treatment Co.,Ltd was founded in 1998 and is headquartered in Shanghai, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Heilongjiang Interchina Water Treatment Co reported revenue of ¥223M in FY2025 versus ¥384M in FY2021, a compound −12.8%/yr. Reported net income was −¥215M in FY2025.
of which total revenue −11.1 pp · buybacks/dilution −1.2 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
600187 screens 77% overvalued. Compare with American Water Works Company →
Peer Group
Utilities - Regulated Water · 67 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.
Valuation Multiples vs Utilities - Regulated Water median · lower = cheaper
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: 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.
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 - Regulated Water stocks, each showing price versus our Fair Value estimate (as of Aug 7, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| American Water Works Company AWK | $134.33 | $65.80 | -51% |
| SBSP3 SBSP3 | R$29.22 | R$31.23 | +7% |
| SBS SBS | $5.79 | $5.21 | -10% |
| Essential Utilities, Inc WTRG | $38.59 | $21.81 | -43% |
| CSMG3 CSMG3 | R$66.10 | R$60.17 | -9% |
| Grandblue Environment Co 600323 | ¥29.42 | ¥33.29 | +13% |
| American States Water Company AWR | $85.01 | $48.02 | -44% |
| Chengdu Xingrong Environment Co 000598 | ¥6.97 | ¥10.74 | +54% |
| California Water Service Group CWT | $49.73 | $33.56 | -33% |
| Chongqing Water Group 601158 | ¥4.12 | ¥2.77 | -33% |
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Frequently asked questions
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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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