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Zhejiang Jianfeng Group (600668) Fair Value & Analysis

Basic Materials · CN · Market cap 3.1B CNY

ZJ Zhejiang Jianfeng Group 600668 · SHG
Price¥7.58
Fair Value¥10.65
Upside+40.6%
Quality44/100
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Weak Growth
Loss-making · -7.5% net margin
Low debt · negative free cash flow
1.36% dividend yield
Mixed vs. peers (5/12)
Narrow moat 16/100
Evidence: Medium Range ¥7.99 – ¥13.32 Share as image

Fair value as of: Aug 9, 2026

From 14 valuation models · updated yesterday

Fair value updated Aug 9, 2026, revised from ¥12.44 to ¥10.65 (−14.4%) since Jul 11, 2026. Share price +5.7% over the past month.

Below-average quality, screening 41% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (¥7.99). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

¥18.36 ¥6.33 Fair Value ¥10.65 Mar 2021 Aug 2026

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 ¥6.33 – ¥18.36 · fair‑value band ¥7.99 – ¥13.32 · the ¥7.58 price screens below the ¥10.65 fair value. Dashed = 300-day average. As of Aug 9, 2026.

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Analysis

Zhejiang Jianfeng Group (600668) currently trades at ¥7.58, while our model-based Fair Value estimate is ¥10.65, implying the stock looks roughly 40.6% undervalued today. The Quality Score stands at 44/100 (below-average quality), in the Basic Materials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Zhejiang Jianfeng Group generated revenue of 2.5B CNY at a net margin of -7.5%. Revenue declined 8.1% year over year. It earns a return on equity of -3.6%. Net debt stands at 501M CNY. Fundamentals as of Aug 9, 2026

Our scenario range runs from ¥7.99 (bear case) to ¥13.32 (bull case); at ¥7.58, the current price sits below 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 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -59% fair-value upside, at 41%, 600668 screens cheaper 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 Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income ¥10.78 ¥11.37 ¥12.27 76
ROIC Compounder ¥0.7900 ¥0.8800 ¥0.9500 72
Growth-Adj P/E ¥12.26 ¥17.51 ¥22.76 68
All 14 models by family
DCF Models
Owner Earnings ¥0.8400 ¥1.09 ¥1.44 31
Earnings-Based
Graham-Dodd ¥6.78 ¥17.65 ¥23.02 54
PEG = 1.0 ¥3.35 ¥4.79 ¥6.22 46
EPV ¥0.7900 ¥0.8800 ¥0.9500 59
Multiples
P/E Multiple ¥15.71 ¥20.95 ¥26.19 63
P/S Multiple ¥9.33 ¥12.44 ¥15.55 58
P/B Multiple ¥12.72 ¥16.96 ¥21.20 55
EV/EBIT ¥1.72 ¥2.21 ¥2.69 53
EV/EBITDA ¥8.12 ¥10.73 ¥13.35 54
EV/Revenue ¥1.31 ¥1.75 ¥2.19 43
Asset-Based
NCAV (Graham) ¥6.67 ¥8.93 ¥13.33 50
Economic Profit
Residual Income ¥10.78 ¥11.37 ¥12.27 76
ROIC Compounder ¥0.7900 ¥0.8800 ¥0.9500 72
Growth Earnings
Growth-Adj P/E ¥12.26 ¥17.51 ¥22.76 68

Widest divergence: Growth Earnings (¥17.51) versus Economic Profit (¥0.8800). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 2.5B CNY
Revenue growth (YoY) -8.1%
Net margin -7.5%
Return on equity -3.6%
Free cash flow −451M CNY FY2025
Operating margin -1.8%
More key figures
EPS (TTM) ¥-0.4500
Dividend yield 1.4%
EPS growth (YoY) -5.7%
Net debt 501M CNY FY2025

Figures from reported company fundamentals · as of Aug 9, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100

Of which business quality 45 · Market factors (momentum, volatility) 31

Profitability 36
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 11
Earnings quality: real cash, not paper profit
Fin. Strength 53
Balance sheet, leverage, solvency risk
Investment 60
Disciplined investing over empire-building
Low Volatility 84
Calm price path (market factor)
Momentum 10
Price trend over the last 3–12 months (market factor)
52W Momentum 6
Distance to the 52-week high (market factor)
Net Issuance 81
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

Zhejiang Jianfeng Group Co., Ltd. engages in the building materials and pharmaceuticals business in China. The company offers pharmaceutical products, including antibiotics, cardiovascular drugs, antidepressants, ophthalmic drugs, anti-tumor drugs, and infant medications.

Full company description

Zhejiang Jianfeng Group Co., Ltd. engages in the building materials and pharmaceuticals business in China. The company offers pharmaceutical products, including antibiotics, cardiovascular drugs, antidepressants, ophthalmic drugs, anti-tumor drugs, and infant medications. It is involved in investment in pharmaceutical and healthcare industries; manufacturing and sales of cement and cement concrete; production and sales of pharmaceutical intermediates; sales of pharmaceutical chemical raw materials; and import and export business; and other industrial investments. Zhejiang Jianfeng Group Co., Ltd. was incorporated in 1989 and is based in Jinhua, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Zhejiang Jianfeng Group reported revenue of ¥2.6B in FY2025 versus ¥3.8B in FY2021, a compound −9.4%/yr. Reported net income was ¥412M in FY2025, compounding −18.3%/yr from FY2021.

Growth Quality 8/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
2.6B CNY
Latest YoY
−10.7%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−10.3%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−4.6%
Avg. growth/yr (32Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+8.7%
Revenue −9.4%/yr
FY21 ¥3.8B
FY22 ¥3.6B
FY23 ¥2.9B
FY24 ¥2.9B
FY25 ¥2.6B
Net income −18.3%/yr
FY21 ¥924M
FY22 ¥288M
FY23 ¥93.8M
FY24 ¥108M
FY25 ¥412M
Character of growth · EPS growth decomposed (2013-2024) −4.3 % p.a.
Revenue per share +3.2 pp

of which total revenue +3.8 pp · buybacks/dilution −0.7 pp

EBIT margin −4.8 pp
Tax rate −1.8 pp
Residual (interest, one-offs) −0.8 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Zhejiang Jianfeng Group Fair Value". https://www.fairvalue-calculator.com/stock/600668

Peer Group

Building Materials · 253 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 44 · Below median
Fair Value upside +41% · Top 25%
Return on assets -0% · Bottom 25%
Net margin (TTM) -7% · Bottom 25%
Operating margin (TTM) -2% · Below median
Revenue growth -8% · Below median
Dividend yield (TTM) 1.4% · Below median
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Building Materials median · lower = cheaper

P/B 0.08× · Cheaper than 75% of peers
P/S (TTM) 0.18× · Cheaper than 75% of peers
EV/EBITDA 1.6× · Cheaper 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 87 · sector 27
FUTURE 0 · sector 2
PAST 0 · sector 15
HEALTH 100 · sector 92
DIVIDEND 27 · sector 42

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 Building Materials stocks, each showing price versus our Fair Value estimate (as of Aug 9, 2026).

Stock Price Fair Value vs Fair Value
CRH plc CRH $102.92 $70.57 -31%
UltraTech Cement Limited ULTRACEMCO ₹11,711 ₹4,719 -60%
China Jushi Co 600176 ¥54.52 ¥13.95 -74%
Grasim Industries Limited GRASIM ₹3,073 ₹1,245 -59%
CEMEX, S.A. CEMEXCPO 21.71 MXN 15.42 MXN -29%
Anhui Conch Cement Company 600585 ¥16.99 ¥26.14 +54%
Ambuja Cements Limited AMBUJACEM ₹435.25 ₹227.96 -48%
Shree Cement Limited SHREECEM ₹26,930 ₹8,215 -69%
TCC Group 1101B 43.70 TWD 10.48 TWD -76%
Taiwan Glass Ind. Corp 1802 53.30 TWD 13.98 TWD -74%

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Frequently asked questions

Is Zhejiang Jianfeng Group (600668) overvalued or undervalued?
As of Aug 9, 2026, our model estimates a fair value of ¥10.65 versus a price of ¥7.58, about +41% (undervalued).
What is the fair value of 600668?
Our model-based fair value for Zhejiang Jianfeng Group is ¥10.65 (as of Aug 9, 2026), built from audited fundamentals. The current price is ¥7.58.
What is the quality score of 600668?
Zhejiang Jianfeng Group has a Quality Score of 44/100. 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 Zhejiang Jianfeng Group (600668)?
Zhejiang Jianfeng Group reported trailing-twelve-month revenue of about 2.5B CNY (latest available figure, as of Aug 9, 2026).
What is the net profit margin of 600668?
The net profit margin of Zhejiang Jianfeng Group is about -7.5%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Zhejiang Jianfeng Group pay a dividend?
Zhejiang Jianfeng Group currently shows a dividend yield of about 1.36% relative to its recent price (as of Aug 9, 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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