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Yankuang Energy Group (600188) Fair Value & Analysis

Energy · CN · Market cap 203B CNY

YE Yankuang Energy Group 600188 · SHG
Price¥21.27
Fair Value¥13.24
Upside-37.8%
Quality45/100
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Weak Growth
Thin margins · 6.6% net margin
Moderate debt · generates free cash flow
2.60% dividend yield
Mixed vs. peers (6/15)
Narrow moat 39/100
Evidence: Medium Range ¥7.07 – ¥19.10 Share as image

Fair value as of: Jul 15, 2026

From 26 valuation models · updated 23 days ago

Fair value updated Jul 15, 2026, revised from ¥22.25 to ¥13.24 (−40.5%) since Jul 11, 2026. Share price +16.9% over the past month.

Below-average quality, and screening another 38% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥19.10). The favourable scenario is already priced in.
  • The model range is unusually wide (¥7.07 to ¥19.10). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (45/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥27.27 ¥3.62 Fair Value ¥13.24 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range ¥3.62 – ¥27.27 · fair‑value band ¥7.07 – ¥19.10 · the ¥21.27 price screens above the ¥13.24 fair value. Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

Yankuang Energy Group (600188) currently trades at ¥21.27, while our model-based Fair Value estimate is ¥13.24, implying the stock looks roughly 37.8% overvalued today. We read business quality at 45/100 (below-average quality), in the Energy 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, Yankuang Energy Group generated revenue of 146B CNY at a net margin of 6.6%. Revenue grew 1.8% year over year. It earns a return on equity of 9.4%. Net debt stands at 29.3B CNY. Fundamentals as of Jul 15, 2026

Our scenario range runs from ¥7.07 (bear case) to ¥19.10 (bull case); at ¥21.27, 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 23% below its 52-week high and 77% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at -2% fair-value upside, at -38%, 600188 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.

Model BearBaseBull Evidence
Highest evidence
Growth DCF ¥0.1400 ¥3.53 80
Residual Income ¥6.85 ¥8.12 ¥14.40 76
Rev-Margin DCF ¥8.31 ¥20.01 ¥34.79 74
All 26 models by family
DCF Models
FCF DCF ¥0.2400 ¥3.82 38
Owner Earnings ¥5.39 ¥13.21 ¥27.15 31
5Y Revenue Exit ¥8.31 ¥20.58 ¥37.55 39
5Y EBITDA Exit ¥18.63 ¥41.51 ¥70.50 41
5Y P/E Exit ¥5.05 ¥13.96 ¥24.16 38
10Y Revenue Exit ¥4.39 ¥15.14 ¥32.09 36
10Y EBITDA Exit ¥11.95 ¥30.69 ¥59.88 37
10Y P/E Exit ¥2.81 ¥10.22 ¥20.80 35
Earnings-Based
Graham-Dodd ¥6.11 ¥26.75 ¥36.60 54
Lynch FV ¥6.90 ¥9.86 ¥12.82 50
PEG = 1.0 ¥6.90 ¥9.86 ¥12.82 46
EPV ¥10.67 ¥13.30 ¥15.65 59
Dividend Discount
Gordon GGM ¥6.94 ¥15.14 ¥25.47 70
DDM Multi-Stage ¥6.94 ¥12.40 ¥15.78 61
Multiples
P/E Multiple ¥13.48 ¥17.97 ¥22.47 63
P/S Multiple ¥11.46 ¥15.28 ¥19.10 58
P/B Multiple ¥11.46 ¥15.28 ¥19.10 55
EV/EBIT ¥21.55 ¥30.15 ¥38.75 53
EV/EBITDA ¥30.69 ¥42.34 ¥53.98 54
EV/Revenue ¥13.14 ¥20.59 ¥28.05 43
Asset-Based
NCAV (Graham) ¥3.58 ¥4.79 ¥7.15 50
Growth DCF
Growth DCF ¥0.1400 ¥3.53 80
Rev-Margin DCF ¥8.31 ¥20.01 ¥34.79 74
Economic Profit
Residual Income ¥6.85 ¥8.12 ¥14.40 76
ROIC Compounder ¥12.15 ¥18.48 ¥27.51 72
Growth Earnings
Growth-Adj P/E ¥11.11 ¥15.87 ¥20.62 68

Widest divergence: Multiples (¥17.97) versus Growth DCF (¥0.1400). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 146B CNY
Revenue growth (YoY) +1.8%
Net margin 6.6%
Return on equity 9.4%
Free cash flow 1.9B CNY FY2025
P/E ratio 21.1
More key figures
Operating margin 11.2%
EPS (TTM) ¥0.9500
Dividend yield 1.8%
EPS growth (YoY) +43.2%
Net debt 29.3B CNY FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 45/100

Of which business quality 32 · Market factors (momentum, volatility) 74

Profitability 29
Margins and returns on capital today
Quality Growth 14
Are margins and returns improving?
Cashflow 44
Earnings quality: real cash, not paper profit
Fin. Strength 19
Balance sheet, leverage, solvency risk
Investment 54
Disciplined investing over empire-building
Low Volatility 65
Calm price path (market factor)
Momentum 78
Price trend over the last 3–12 months (market factor)
52W Momentum 79
Distance to the 52-week high (market factor)
Net Issuance 37
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

Yankuang Energy Group Company Limited engages in the mining and sale of coal in the People's Republic of China, Australia, and internationally. It operates through Coal Mining; Smart Logistics; Coal Chemical, Electricity and Heat Supply; and Equipment Manufacturing segments.

Full company description

Yankuang Energy Group Company Limited engages in the mining and sale of coal in the People's Republic of China, Australia, and internationally. It operates through Coal Mining; Smart Logistics; Coal Chemical, Electricity and Heat Supply; and Equipment Manufacturing segments. The company offers thermal, PCI, and coking coal; methanol, acetic acid, ethyl acetate, caprolactam, urea, ethylene glycol, naphtha, liquid paraffin, and crude liquid wax; coal mining and excavating equipment, cables, wires, cable accessories, and raw materials products; and chemicals, as well as involved in wholesale of petroleum and mineral products; and manufacturing of synthetic materials. It also engages in potash mineral exploration; electricity and heat supply; coal mining technology development, transfer, and consultation; finance leasing; leasing, trading, and commercial factoring; engineering; investment and asset management; educational software development; event planning; construction and production solar and wind power; providing railway, river, and lakes transportation; commercial; and logistics and transportation services. In addition, the company is involved in coal resource exploration development; port infrastructure construction; production and sales of mining equipment, electromechanical equipment, and rubber products; installation of mining equipment; coal and electrolytic copper trading; recycling of renewable resources; management of mineral resources, coal mining, and washing; operation of power generation; bonded area trade and warehousing; manufacturing of chemical products; and manufacturing of other metal processing machinery. The company was formerly known as Yanzhou Coal Mining Company Limited and changed its name to Yankuang Energy Group Company Limited in December 2021. The company was incorporated in 1997 and is based in Zoucheng, the People's Republic of China. Yankuang Energy Group Company Limited operates as a subsidiary of Shan Dong Energy Group Co., Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Yankuang Energy Group reported revenue of ¥144B in FY2025 versus ¥152B in FY2021, a compound −1.4%/yr. Reported net income was ¥9.0B in FY2025, compounding −13.7%/yr from FY2021.

Growth Quality 32/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
144B CNY
Latest YoY
+3.1%
Avg. growth/yr (3Y)
−13.9%
Avg. growth/yr (5Y)
−7.8%
Avg. growth/yr (30Y)
+14.1%
Revenue −1.4%/yr
FY21 ¥152B
FY22 ¥225B
FY23 ¥150B
FY24 ¥139B
FY25 ¥144B
Net income −13.7%/yr
FY21 ¥16.3B
FY22 ¥33.4B
FY23 ¥20.1B
FY24 ¥14.4B
FY25 ¥9.0B

600188 screens 38% overvalued. Compare with China Shenhua Energy Company →

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Cite: Fair Value Calculator (2026). "Yankuang Energy Group Fair Value". https://www.fairvalue-calculator.com/stock/600188

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Thermal Coal · 101 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 45 · Below median
Fair Value upside −38% · Bottom 25%
Return on equity (TTM) 9% · Above median
Return on assets 3% · Above median
Net margin (TTM) 7% · Above median
Operating margin (TTM) 11% · Above median
Revenue growth 2% · Above median
Dividend yield (TTM) 2.6% · Above median
Debt / equity 1.12× · Higher than 75% of peers

Valuation Multiples vs Thermal Coal median · lower = cheaper

P/E (TTM) 21.1× · Pricier than median
P/B 2.83× · Pricier than 75% of peers
P/S (TTM) 1.40× · Pricier than median
P/FCF 16.1× · Pricier than 75% of peers
EV/EBITDA 7.2× · Pricier than median
PEG 1.50× · Pricier than 75% of peers

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 25
FUTURE 9 · sector 0
PAST 38 · sector 21
HEALTH 44 · sector 92
DIVIDEND 52 · sector 27

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.

Coal Oil & gas

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Thermal Coal stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

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Frequently asked questions

Is Yankuang Energy Group (600188) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of ¥13.24 versus a price of ¥21.27, about −38% (overvalued).
What is the fair value of 600188?
Our model-based fair value for Yankuang Energy Group is ¥13.24 (as of Jul 15, 2026), built from audited fundamentals. The current price is ¥21.27.
What is the quality score of 600188?
Yankuang Energy Group has a Quality Score of 45/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Yankuang Energy Group (600188)?
Yankuang Energy Group reported trailing-twelve-month revenue of about 146B CNY (latest available figure, as of Jul 15, 2026).
What is the net profit margin of 600188?
The net profit margin of Yankuang Energy Group is about 6.6%, meaning it keeps roughly 6.6% of revenue as net income. Based on the latest reported figures.
Does Yankuang Energy Group pay a dividend?
Yankuang Energy Group currently shows a dividend yield of about 1.83% relative to its recent price (as of Jul 15, 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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