Shanghai Dazhong Public Utilities(Group) Co (600635) Fair Value & Analysis

Utilities · CN · Market cap 13.9B CNY

Below-average quality, and screening another 49% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (¥2.99). The favourable scenario is already priced in.
• Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.
• A fairly wide model range (¥1.55 to ¥2.99) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 9, 2026.

How to read this chart

60‑month range ¥2.51 – ¥8.18 · fair‑value band ¥1.55 – ¥2.99 · the ¥4.71 price screens above the ¥2.39 fair value. Dashed = 300-day average. As of Aug 9, 2026.

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Analysis

Shanghai Dazhong Public Utilities(Group) Co (600635) currently trades at ¥4.71, while our model-based Fair Value estimate is ¥2.39, implying the stock looks roughly 49.3% overvalued today. The Quality Score stands at 48/100 (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, Shanghai Dazhong Public Utilities(Group) Co generated revenue of 6.1B CNY at a net margin of 4.5%. Revenue grew 0.4% year over year. It earns a return on equity of 3.5%. Net debt stands at 2.6B CNY. Fundamentals as of Aug 9, 2026

Our scenario range runs from ¥1.55 (bear case) to ¥2.99 (bull case); at ¥4.71, 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 44% below its 52-week high and 26% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -19% fair-value upside, at -49%, 600635 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.

Widest divergence: DCF Models (¥2.48) versus Economic Profit (¥0.6600). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

Shanghai Dazhong Public Utilities(Group) Co.,Ltd., an investment holding company, engages in pipeline gas supply and sewage treatment activities in the People's Republic of China. It operates through Gas and Energy, Wastewater Treatment, Public Infrastructure Projects, Investments, Transportation Services, and Financial Services segments.

Full company description

Shanghai Dazhong Public Utilities(Group) Co.,Ltd., an investment holding company, engages in pipeline gas supply and sewage treatment activities in the People's Republic of China. It operates through Gas and Energy, Wastewater Treatment, Public Infrastructure Projects, Investments, Transportation Services, and Financial Services segments. The company is involved in the city gas business, which includes sale of gas and provision of gas installation engineering services; environmental and municipal works comprising investment, construction and operation of domestic sewage, and industrial sewage treatment plants; and urban transportation business, which provides integrated transportation support services, such as taxi, car rental, road passenger transport, and tour coach chartering. It also provides non-banking financial services, including financial leasing, factoring business, and asset management services; and venture capital investment. Shanghai Dazhong Public Utilities(Group) Co.,Ltd. was founded in 1991 and is based in Shanghai, China

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shanghai Dazhong Public Utilities(Group) Co reported revenue of ¥6.1B in FY2025 versus ¥5.5B in FY2021, a compound +2.5%/yr. Reported net income was ¥415M in FY2025, compounding +8.2%/yr from FY2021.

600635 screens 49% overvalued. Compare with Naturgy Energy Group →

Peer Group

Utilities - Regulated Gas · 104 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 Gas 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.

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Frequently asked questions

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.