Minfeng Special Paper Co (600235) Fair Value & Analysis
Basic Materials · CN · Market cap 1.9B CNY
Fair value as of: Aug 7, 2026
From 23 valuation models · updated 4 days ago
Fair value updated Aug 7, 2026, revised from ¥1.30 to ¥1.19 (−8.5%) since Jul 11, 2026. Share price +9.8% over the past month.
Below-average quality, and screening another 79% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (¥1.46). The favourable scenario is already priced in.
- Solid but not exceptional quality (46/100) and above fair value, neither a clear bargain nor a standout compounder.
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 ¥3.81 – ¥7.36 · fair‑value band ¥0.9000 – ¥1.46 · the ¥5.71 price screens above the ¥1.19 fair value. Dashed = 300-day average. As of Aug 7, 2026.
Analysis
Minfeng Special Paper Co (600235) currently trades at ¥5.71, while our model-based Fair Value estimate is ¥1.19, implying the stock looks roughly 79.2% overvalued today. The Quality Score stands at 46/100 (below-average quality), in the Basic Materials 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, Minfeng Special Paper Co generated revenue of 1.2B CNY at a net margin of 0.8%. Revenue grew 11.2% year over year. It earns a return on equity of 0.7%. Net debt stands at 840M CNY. Fundamentals as of Aug 7, 2026
Our scenario range runs from ¥0.9000 (bear case) to ¥1.46 (bull case); at ¥5.71, 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 26% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at 0% fair-value upside, at -79%, 600235 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 23 models by family
Widest divergence: Asset-Based (¥2.88) versus Earnings-Based (¥0.4000). Highest evidence: Growth DCF (80).
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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 46 · Market factors (momentum, volatility) 39
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
Minfeng Special Paper Co.,Ltd. manufactures and sells papers in China. The company is also involved in research and development, production and sales of paper and paper products; and design, manufacturing and installation of papermaking equipment.
Full company description
Minfeng Special Paper Co.,Ltd. manufactures and sells papers in China. The company is also involved in research and development, production and sales of paper and paper products; and design, manufacturing and installation of papermaking equipment. It offers cigarette, shaping, plug wrap, tipping base, tracing, translucent, transparent, glassine and coated, wet strength label, aluminized base, vacuum metallized base and released base papers. Minfeng Special Paper Co.,Ltd. was founded in 1923 and is based in Jiaxing, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Minfeng Special Paper Co reported revenue of ¥1.2B in FY2025 versus ¥1.5B in FY2021, a compound −5.7%/yr. Reported net income was ¥16.3M in FY2025, compounding −27.3%/yr from FY2021.
600235 screens 79% overvalued. Compare with Klabin S.A →
Peer Group
Paper & Paper Products · 110 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 Paper & Paper Products 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 Paper & Paper Products stocks, each showing price versus our Fair Value estimate (as of Aug 7, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Klabin S.A KLBN11 | R$17.58 | R$3.89 | -78% |
| UPM-Kymmene Oyj UPM | €23.45 | €15.47 | -34% |
| Suzano S.A SUZB3 | R$41.70 | R$138.01 | +231% |
| Svenska Cellulosa Aktiebolaget SCA (publ) SCAB | kr 103.00 | kr 49.40 | -52% |
| Shandong Sunpaper Co 002078 | ¥14.13 | ¥17.29 | +22% |
| Holmen AB HOLMB | kr 305.40 | kr 217.72 | -29% |
| Nine Dragons Paper (Holdings) Limited 2689 | HK$7.55 | HK$8.73 | +16% |
| Empresas CMPC S.A CMPC | 1,078 CLP | 1,269 CLP | +18% |
| Xianhe Co 603733 | ¥21.09 | ¥21.06 | -0% |
| Billerud AB BILL | kr 68.70 | kr 48.60 | -29% |
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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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