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Shandong Huatai Paper Industry Shareholding Co (600308) Fair Value & Analysis

Basic Materials · CN · Market cap 4.8B CNY

SH Shandong Huatai Paper Industry Shareholding Co 600308 · SHG
Price¥3.18
Fair Value¥2.42
Upside-23.9%
Quality46/100
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Weak Growth
Loss-making · -0.8% net margin
Low debt · negative free cash flow
Trails peers (3/12)
Narrow moat 17/100
Evidence: Low Range ¥1.46 – ¥3.36 Share as image

Fair value as of: Aug 8, 2026

From 6 valuation models · updated 2 days ago

Fair value updated Aug 8, 2026, revised from ¥1.21 to ¥2.42 (+100.0%) since Jul 11, 2026. Share price +0.3% over the past month.

Below-average quality, and screening another 24% overvalued on our models.

What matters now

  • Solid but not exceptional quality (46/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (¥1.46 to ¥3.36) leaves room in how you read the outcome.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
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Price vs Fair Value (5 years)

¥6.34 ¥2.84 Fair Value ¥2.42 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 8, 2026.

How to read this chart

60‑month range ¥2.84 – ¥6.34 · fair‑value band ¥1.46 – ¥3.36 · the ¥3.18 price screens above the ¥2.42 fair value. Dashed = 300-day average. As of Aug 8, 2026.

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Analysis

Shandong Huatai Paper Industry Shareholding Co (600308) currently trades at ¥3.18, while our model-based Fair Value estimate is ¥2.42, implying the stock looks roughly 23.9% 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: low).

Over the trailing twelve months, Shandong Huatai Paper Industry Shareholding Co generated revenue of 12.5B CNY at a net margin of -0.8%. Revenue grew 1.3% year over year. It earns a return on equity of -1.3%. Net debt stands at 1.0B CNY. Fundamentals as of Aug 8, 2026

Our scenario range runs from ¥1.46 (bear case) to ¥3.36 (bull case); at ¥3.18, 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 31% below its 52-week high, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at 10% fair-value upside, at -24%, 600308 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
ROIC Compounder ¥1.12 ¥1.25 ¥1.36 72
EPV ¥1.12 ¥1.25 ¥1.36 59
EV/EBITDA ¥5.33 ¥7.02 ¥8.70 54
All 6 models by family
Earnings-Based
EPV ¥1.12 ¥1.25 ¥1.36 59
Multiples
EV/EBIT ¥1.70 ¥2.18 ¥2.65 53
EV/EBITDA ¥5.33 ¥7.02 ¥8.70 54
EV/Revenue ¥1.51 ¥2.04 ¥2.57 43
Asset-Based
NCAV (Graham) ¥2.98 ¥3.99 ¥5.95 50
Economic Profit
ROIC Compounder ¥1.12 ¥1.25 ¥1.36 72

Widest divergence: Asset-Based (¥3.99) versus Earnings-Based (¥1.25). Highest evidence: ROIC Compounder (72).

Key figures & financial health

Revenue (TTM) 12.5B CNY
Revenue growth (YoY) +1.3%
Net margin -0.8%
Return on equity -1.3%
Free cash flow −584M CNY FY2025
Operating margin 1.6%
More key figures
EPS (TTM) ¥-0.0600
EPS growth (YoY) -50.0%
Net debt 1.0B CNY FY2025

Figures from reported company fundamentals · as of Aug 8, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 46/100

Of which business quality 44 · Market factors (momentum, volatility) 36

Profitability 21
Margins and returns on capital today
Quality Growth 31
Are margins and returns improving?
Cashflow 7
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 17
Price trend over the last 3–12 months (market factor)
52W Momentum 18
Distance to the 52-week high (market factor)
Net Issuance 99
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

Shandong Huatai Paper Industry Shareholding Co.,Ltd, together with its subsidiaries, produces and sells paper products in China, Europe, the United States, Southeast Asia, South Korea, India, and internationally. It operates through Paper Industry; Chemical Products; Electric Power; and Sewage Treatment segments.

Full company description

Shandong Huatai Paper Industry Shareholding Co.,Ltd, together with its subsidiaries, produces and sells paper products in China, Europe, the United States, Southeast Asia, South Korea, India, and internationally. It operates through Paper Industry; Chemical Products; Electric Power; and Sewage Treatment segments. The company offers machine-made paper, such as coated, cultural, newsprint, and packaging paper; and pulp products. It also provides chemical products comprising caustic soda, liquid chlorine, hydrogen peroxide, methane chloride, propylene oxide, and chlorine, acetic acid, and aniline; and electric power and sewage treatment services. In addition, it engages in transportation, trading, energy and information technology, industrial investment, and renewable resources businesses. Shandong Huatai Paper Industry Shareholding Co.,Ltd was formerly known as Shandong Huatai Paper Co., LTD. The company was founded in 1993 and is headquartered in Dongying, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shandong Huatai Paper Industry Shareholding Co reported revenue of ¥12.5B in FY2025 versus ¥14.9B in FY2021, a compound −4.4%/yr. Reported net income was −¥66.0M in FY2025.

Growth Quality 5/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
12.5B CNY
Latest YoY
−4.5%
Avg. growth/yr (3Y)
−6.4%
Avg. growth/yr (5Y)
+0.2%
Avg. growth/yr (28Y)
+13.8%
Revenue −4.4%/yr
FY21 ¥14.9B
FY22 ¥15.2B
FY23 ¥13.3B
FY24 ¥13.0B
FY25 ¥12.5B
Net income
FY21 ¥808M
FY22 ¥427M
FY23 ¥238M
FY24 ¥36.2M
FY25 −¥66.0M

600308 screens 24% overvalued. Compare with Klabin S.A →

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Cite: Fair Value Calculator (2026). "Shandong Huatai Paper Industry Shareholding Co Fair Value". https://www.fairvalue-calculator.com/stock/600308

Peer Group

Paper & Paper Products · 113 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 46 · Below median
Fair Value upside −24% · Below median
Return on assets 0% · Below median
Net margin (TTM) -1% · Bottom 25%
Operating margin (TTM) 2% · Below median
Revenue growth 1% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.14× · Lower than median

Valuation Multiples vs Paper & Paper Products median · lower = cheaper

P/B 0.08× · Cheaper than 75% of peers
P/S (TTM) 0.06× · Cheaper than 75% of peers
PEG 0.68× · Pricier 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 1 · sector 20
FUTURE 7 · sector 7
PAST 0 · sector 12
HEALTH 93 · sector 91
DIVIDEND 0 · sector 41

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 Paper & Paper Products stocks, each showing price versus our Fair Value estimate (as of Aug 8, 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 ¥22.05 ¥24.32 +10%
Billerud AB BILL kr 68.70 kr 48.60 -29%

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Frequently asked questions

Is Shandong Huatai Paper Industry Shareholding Co (600308) overvalued or undervalued?
As of Aug 8, 2026, our model estimates a fair value of ¥2.42 versus a price of ¥3.18, about −24% (overvalued).
What is the fair value of 600308?
Our model-based fair value for Shandong Huatai Paper Industry Shareholding Co is ¥2.42 (as of Aug 8, 2026), built from audited fundamentals. The current price is ¥3.18.
What is the quality score of 600308?
Shandong Huatai Paper Industry Shareholding Co has a Quality Score of 46/100. 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 Shandong Huatai Paper Industry Shareholding Co (600308)?
Shandong Huatai Paper Industry Shareholding Co reported trailing-twelve-month revenue of about 12.5B CNY (latest available figure, as of Aug 8, 2026).
What is the net profit margin of 600308?
The net profit margin of Shandong Huatai Paper Industry Shareholding Co is about -0.8%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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