Wanhua Chemical Group Co Ltd (600309) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Wanhua Chemical Group Co Ltd stock ¥68.03, price ¥73.58, that is 7.5% below the price, quality 48 out of 100. Rating: fairly valued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
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Wanhua Chemical Group Co Ltd
600309 · SHGThe stock costs about what our calculation considers fair.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range ¥52.53 – ¥123.09 · fair‑value band ¥51.02 – ¥85.04 · the ¥73.58 price screens above the ¥68.03 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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Company profile
Wanhua Chemical Group Co., Ltd., together with its subsidiaries, engages in the research, development, production, and sale of chemical products in China and internationally. It operates through three segments: Polyurethane; Petrochemical; and Fine Chemicals and New Materials.
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The company offers isocyanates and polyether polyols; olefin derivatives and ethylene; functional chemicals, including specialty isocyanates, specialty amines, and intermediates; and new materials, such as thermoplastic polyurethane elastomers, polyolefin elastomers, polymethyl methacrylate, water treatment membranes, superabsorbent polymers, nylon elastomers, ultra-high voltage cable materials, and methyl methacrylate-styrene copolymers.
It also provides surface materials comprising coatings and adhesives raw materials, silicone intermediates, and finished adhesives, as well as synthetic leather, personal and home care, liquid silicone rubber, release agents, and bio-based chemicals; polymers; caustic soda, specialty PVC, and other chlorine products; flavorings, nutritional supplements, and pharmaceutical intermediates; and lithium iron phosphate, graphite anodes, battery-grade sulfates, N-methylpyrrolidone, polyacrylic acid, and other battery materials and related chemicals.
The company's products are used in homeware and furniture, sports and leisure, automobiles and transportation, building and construction, electronics and electrical appliances, personal care, and green energy industries. It exports its products.
The company was formerly known as Yantai Wanhua Polyurethanes Co., Ltd. and changed its name to Wanhua Chemical Group Co., Ltd. in June 2013. Wanhua Chemical Group Co., Ltd. was founded in 1978 and is headquartered in Yantai, China.
Stock analysis
Wanhua Chemical Group Co Ltd (600309) currently trades at ¥73.58, while our model-based Fair Value estimate is ¥68.03, so the stock looks roughly fairly valued today (gap 8.2%).
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ¥107.78 per share, and 5 of the 16 models we run sit above the ¥73.58 price.
Bear case: the Asset-Based group reads lowest at ¥17.22, and 11 of the 16 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ¥51.02 (bear) to ¥85.04 (bull), the price of ¥73.58 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 48/100 (below-average quality), in the Basic Materials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Wanhua Chemical Group Co Ltd reported revenue of 203B CNY in FY2025 versus 146B CNY in FY2021, a compound +8.7%/yr. Reported net income was 12.5B CNY in FY2025, compounding −15.6%/yr from FY2021.
Key figures
Market cap 231B CNY (≈ $34.7B) Large · P/E ratio 12.1 · P/S ratio 0.94 · EPS (TTM) ¥6.07 · Dividend yield 1.7% · Net margin 7.8% · Return on equity 17.6% · Return on assets (EBIT) 9.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 22% below its 52-week high and 20% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −44% fair-value upside, at −8%, 600309 screens cheaper than that median.
Fair Value models
All 16 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
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Compare Wanhua Chemical Group Co Ltd with another stock
Price, fair value, quality and upside side by side.
Peer Groupⓘ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.Specialty Chemicals · 726 stocks
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Materials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- P/S ratio by industry
- EBIT margin by industry
- Piotroski F-Score screener with fair value
- Undervalued stocks: Chinese Stocks
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Specialty Chemicals stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Nan Ya Plastics Corporation 1303 | 249.00 TWD | 442.40 TWD | +78% | vs 600309 |
| Linde plc LIN | $524.74 | $446.62 | −15% | vs 600309 |
| PPG Industries, Inc PPG | $127.27 | $77.68 | −39% | vs 600309 |
| Asian Paints Limited ASIANPAINT | ₹2,524 | ₹1,479 | −41% | vs 600309 |
| DSM-Firmenich AG DSFIR | CHF 103.20 | CHF 57.82 | −44% | vs 600309 |
| Sika AG SIKA | CHF 188.75 | CHF 98.89 | −48% | vs 600309 |
| The Sherwin-Williams Company SHW | $363.50 | $146.37 | −60% | vs 600309 |
| Givaudan SA GIVN | CHF 4,105 | CHF 1,554 | −62% | vs 600309 |
| EMS-CHEMIE HOLDING AG EMSN | CHF 859.50 | CHF 284.63 | −67% | vs 600309 |
| Ecolab Inc ECL | $315.01 | $96.56 | −69% | vs 600309 |
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Key figures of Wanhua Chemical Group Co Ltd
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