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Yangmei Chemical Co Ltd (600691) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Yangmei Chemical Co Ltd ¥3.30, price ¥2.76, upside +19.6%, quality 41 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

Fair value above price? Yes
Good quality? No
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Basic Materials · CN · ISIN CNE000000DR4

YC Thin data Sep 24, 2026

Yangmei Chemical Co Ltd

600691 · SHG

SpeculativeUpside exists, but weak quality makes the signal speculative.

✓Fair value ¥3.30 · Undervalued (+20%)

!Quality 41/100

!Weak Growth (revenue 5y −11.3 %/yr)

!Loss-making · -7.5% net margin (TTM)

!Low debt · negative free cash flow

!Mixed vs. peers (5/12)

!Narrow moat 15/100

!Evidence only low, so the estimate is less certain

26 models, one by oneBear ¥1.76 to bull ¥3.30 Growth analysisrevenue history, year by year Quality 41/100 in detail37 factors, each one shown Compared with its peersrank on every measure, side by side

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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range ¥1.41 – ¥7.86 · fair‑value band ¥1.76 – ¥3.30 · the ¥2.76 price screens below the ¥3.30 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Shanxi Lu'an Chemical Technology Co., Ltd., together with its subsidiaries, produces and sells coal chemical products and chemical equipment in China.

Shanxi Lu'an Chemical Technology Co., Ltd., together with its subsidiaries, produces and sells coal chemical products and chemical equipment in China. The company offers urea, polyvinyl chloride, propylene, ion membrane caustic soda, phosphorus trichloride, and hydrogen peroxide for the agriculture and chemical industries, as well as fertilizers, LNG, liquid ammonia, and hydrogen. It is also involved in the design, manufacture, production, and sale of chemical machinery and equipment; engineering survey and design; hydrogen energy technology consulting services; and the assembly, production, and sale of intelligent systems and components for new energy vehicles. The company was formerly known as Yangmei Chemical Co.,Ltd. and changed its name to Shanxi Lu'an Chemical Technology Co., Ltd. in June 2025. Shanxi Lu'an Chemical Technology Co., Ltd. was founded in 1970 and is based in Taiyuan, China.

Stock analysis

Yangmei Chemical Co Ltd (600691) currently trades at ¥2.76, while our model-based Fair Value estimate is ¥3.30, implying the stock looks roughly 16.4% undervalued today.

Valuation

Bull case: the Multiples group reads highest at a median of ¥1.95 per share, and 0 of the 4 models we run sit above the ¥2.76 price.

Bear case: the Asset-Based group reads lowest at ¥0.8900, and 4 of the 4 models stay below the price. Evidence for this calculation is low.

Scenario range: ¥1.76 (bear) to ¥3.30 (bull), the price of ¥2.76 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 41/100 (below-average quality), in the Basic Materials sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Yangmei Chemical Co Ltd reported revenue of 9.8B CNY in FY2025 versus 18.7B CNY in FY2021, a compound −14.9%/yr. Reported net income was −825M CNY in FY2025.

Key figures

Market cap 6.6B CNY (≈ $979M) · P/S ratio 0.59 · EPS (TTM) ¥−0.3100 · Dividend yield 3.6% · Net margin −8.4% · Return on equity −23.0% · Return on assets (EBIT) −1.9% · Operating margin −1.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).

What moves the price

The share trades about 42% below its 52-week high and 28% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −25% fair-value upside, at 20%, 600691 screens cheaper than that median.

Fair Value models

Bear ¥1.76 Fair Value ¥3.30 Bull ¥3.30

Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.

Highest evidence

EV/EBITDA ¥1.54 ¥1.95 ¥2.36 67

Gordon GGM ¥0.6800 ¥1.23 ¥1.69 66

DDM Multi-Stage ¥0.6800 ¥1.12 ¥1.31 65

All 4 models by family

Dividend Discount

Gordon GGM ¥0.6800 ¥1.23 ¥1.69 66

DDM Multi-Stage ¥0.6800 ¥1.12 ¥1.31 65

Multiples

EV/EBITDA ¥1.54 ¥1.95 ¥2.36 67

Asset-Based

NCAV (Graham) ¥0.6600 ¥0.8900 ¥1.33 54

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Quality Score breakdown

Overall quality 41/100

Of which business quality 38 · Market factors (momentum, volatility) 41

Profitability 9

Margins and returns on capital today

Quality Growth 57

Are margins and returns improving?

Cashflow 15

Earnings quality: real cash, not paper profit

Fin. Strength 18

Balance sheet, leverage, solvency risk

Investment 90

Disciplined investing over empire-building

Low Volatility 54

Calm price path (market factor)

Momentum 39

Price trend over the last 3–12 months (market factor)

52W Momentum 29

Distance to the 52-week high (market factor)

Net Issuance 82

Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 0/100

Revenue is shrinking: the last year, the last three and the last five years are all negative.

Revenue growth 1 year

−9.6%

Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.

−16.7%

Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.

−11.3%

Start year 2020 (pandemic). Over 10 years: −5.7% a year

Revenue growth 35 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.

+17.3%

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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.

0.6% (2020) → −3.3% (2025)

What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss

not computed

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Compare Yangmei Chemical Co Ltd with another stock

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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.Chemicals · 350 stocks

Beats the industry median on 5/11 measures

A mixed picture versus its industry peers.

Valuation

Quality Score 41 · Bottom 25%

Fair Value upside +20% · Top 25%

Profitability

Return on assets −1% · Bottom 25%

Net margin (TTM) −7% · Bottom 25%

Operating margin (TTM) −1% · Bottom 25%

Growth and dividend

Revenue growth −2% · Below median

Dividend yield (TTM) 3.6% · Top 25%

Balance sheet

Debt / equity 0.48× · Highest 25%

Valuation Multiplesvs Chemicals median · lower = cheaper

P/B 0.31× · Cheapest 25%

P/S (TTM) 0.10× · Cheapest 25%

EV/EBITDA 0.7× · Cheapest 25%

Strength profile in five axes (Snowflake)

This stock

Sector peers

VALUE (fair-value potential)59 · sector 0

FUTURE (revenue growth)0 · sector 24

PAST (return on equity)0 · sector 19

HEALTH (low debt)76 · sector 94

DIVIDEND (yield)72 · sector 31

Context: sector, industry, market

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

Similar stocks

10 more Chemicals stocks, each showing price versus our Fair Value estimate.

Stock	Price	Fair Value	vs Fair Value
BASF SE BAS	€51.79	€23.76	−54%
Saudi Basic Industries Corporation 2010	47.90 SAR	24.66 SAR	−49%
Ningxia Baofeng Energy Group 600989	¥23.21	¥40.44	+74%
Dow Inc DOW	$28.20	$21.03	−25%
Zhejiang Juhua Co 600160	¥34.61	¥19.88	−43%
Rongsheng Petrochemical Co 002493	¥13.13	¥2.90	−78%
Zangge Mining Company 000408	¥73.50	¥80.85	+10%
Ganfeng Lithium Group 002460	¥46.39	¥16.17	−65%
PT Barito Pacific Tbk, BRPT	1,620 IDR	1,581 IDR	−2%
Hengli Petrochemical Co 600346	¥16.54	¥43.28	+162%

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Yangmei Chemical Co Ltd · Fair Value
¥3.30 +16%Fair Value
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<a href="https://www.fairvalue-calculator.com/stock/600691" target="_blank" rel="nofollow noopener" style="display:inline-flex;align-items:center;gap:12px;box-sizing:border-box;font-family:system-ui,-apple-system,Segoe UI,Roboto,sans-serif;text-decoration:none;background:#0f1814;color:#eaf2ed;border:1px solid #2a3a30;border-radius:12px;padding:12px 16px;max-width:360px"><span style="line-height:1.35"><span style="font-size:12px;color:#9fb0a8">Yangmei Chemical Co Ltd · Fair Value</span><br><b style="font-size:20px">¥3.30</b> <span style="color:var(--fvc-g-mitte);font-weight:700;font-size:14px">+16%</span></span><span style="font-size:11px;color:var(--fvc-g-mitte);font-weight:700;margin-left:auto;text-align:right;line-height:1.3">Fair&nbsp;Value<br>Calculator&nbsp;→</span></a>

Cite: Fair Value Calculator (2026). "Yangmei Chemical Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/600691

Frequently asked questions

Is Yangmei Chemical Co Ltd (600691) overvalued or undervalued?

As of Sep 24, 2026, our model estimates a fair value of ¥3.30 versus a price of ¥2.76, about +20% upside (undervalued).

What is the fair value of 600691?

Our model-based fair value for Yangmei Chemical Co Ltd is ¥3.30 (as of Sep 24, 2026), built from audited fundamentals. The current price: ¥2.76.

What is the quality score of 600691?

Yangmei Chemical Co Ltd has a Quality Score of 41/100. 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 price target for Yangmei Chemical Co Ltd (600691)?

Our model-based price target is the fair value of ¥3.30 (as of Sep 24, 2026) from 4 valuation models. Cautious scenario ¥1.76, optimistic scenario ¥3.30. It is a calculation from audited fundamentals, not an analyst target.

What is the Yangmei Chemical Co Ltd stock forecast for 2026?

Our models put fair value at ¥3.30, about +20% upside versus a price of ¥2.76 (undervalued). Cautious scenario ¥1.76, optimistic scenario ¥3.30. The calculation is refreshed regularly with new filings.

What is the revenue of Yangmei Chemical Co Ltd (600691)?

Yangmei Chemical Co Ltd reported trailing-twelve-month revenue of about 9.8B CNY (latest available figure, as of Sep 24, 2026).

Does Yangmei Chemical Co Ltd pay a dividend?

Yangmei Chemical Co Ltd currently shows a dividend yield of about 3.59% relative to its recent price (as of Sep 24, 2026).

What is the intrinsic value of Yangmei Chemical Co Ltd (600691)?

Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Yangmei Chemical Co Ltd it is ¥3.30 per share (as of Sep 24, 2026), against a price of ¥2.76. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).

Is Yangmei Chemical Co Ltd stock overvalued or undervalued in 2026?

As of Sep 24, 2026, 600691 trades below its calculated fair value: price ¥2.76, fair value ¥3.30, a gap of about +20% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.

Is fair value the same as the market price of 600691?

No. The price is what the market pays today (¥2.76); the fair value is what the company's own numbers justify (¥3.30). For Yangmei Chemical Co Ltd the two are ¥0.5400 per share apart. That gap is exactly why we show both numbers side by side.

How much is Yangmei Chemical Co Ltd worth?

The market values Yangmei Chemical Co Ltd at about 6.6B CNY (market capitalisation, as of Sep 24, 2026). Per share that is ¥2.76; our models calculate a fair value of ¥3.30 per share.

What do the bullish and bearish scenarios say about 600691?

Our models span a range for Yangmei Chemical Co Ltd: cautious scenario ¥1.76, base ¥3.30, optimistic ¥3.30 per share (as of Sep 24, 2026, price ¥2.76). The range comes from different growth and margin assumptions, not from analyst opinions.

How solid is the balance sheet of Yangmei Chemical Co Ltd (600691)?

Balance-sheet figures for Yangmei Chemical Co Ltd (as of Sep 24, 2026): return on equity −23.0%, debt of 0.48 per unit of equity. They feed the Quality Score of 41/100, which measures business quality independently of the share price.

How far is 600691 from its 52-week high?

Yangmei Chemical Co Ltd trades at ¥2.76, about 42% below its 52-week high of ¥4.72 and 28% above the low of ¥2.15 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of ¥3.30 is for.

Which stocks are comparable to Yangmei Chemical Co Ltd?

From the same area (Basic Materials) we also value BASF SE, Saudi Basic Industries Corporation, Ningxia Baofeng Energy Group, Dow Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.

Is Yangmei Chemical Co Ltd stock attractive at the current price?

The data as of Sep 24, 2026: price ¥2.76, calculated fair value ¥3.30 (+20%), Quality Score 41/100, from 4 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.

How is the fair value of 600691 calculated?

We run Yangmei Chemical Co Ltd through 4 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥3.30, with the spread shown as a cautious and an optimistic scenario.

Is it still worth investing in stocks now?

The global stock market currently sits 14.1 % above its aggregate fair value. Yangmei Chemical Co Ltd currently trades 20 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.

What is the share price of Yangmei Chemical Co Ltd (600691)?

The closing price on Sep 23, 2026 was ¥2.76. Our model-based fair value is ¥3.30, about +20% upside (undervalued). We carry closing prices from our data provider, not a live tick.

What should I pay attention to with Yangmei Chemical Co Ltd right now?

A fairly wide model range (¥1.76 to ¥3.30) 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.

Key figures of Yangmei Chemical Co Ltd

How large is the market capitalisation of Yangmei Chemical Co Ltd (600691)?

The market capitalisation of Yangmei Chemical Co Ltd is 6.6B CNY (≈ $979M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.

What is the P/S ratio of Yangmei Chemical Co Ltd (600691)?

The price-to-sales ratio of Yangmei Chemical Co Ltd is 0.59 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.

What are the earnings per share of Yangmei Chemical Co Ltd (600691)?

Earnings per share at Yangmei Chemical Co Ltd are ¥−0.3100. Earnings per share over the last twelve months: total profit spread across every single share.

What is the dividend yield of Yangmei Chemical Co Ltd (600691)?

The dividend yield of Yangmei Chemical Co Ltd is 3.6%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.

What is the net margin of Yangmei Chemical Co Ltd (600691)?

The net margin of Yangmei Chemical Co Ltd is −8.4% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.

What is the return on equity of Yangmei Chemical Co Ltd (600691)?

The return on equity (ROE) of Yangmei Chemical Co Ltd is −23.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.

What is the EBIT return on assets of Yangmei Chemical Co Ltd (600691)?

On an EBIT basis the return on assets of Yangmei Chemical Co Ltd is −1.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.

What is the operating margin of Yangmei Chemical Co Ltd (600691)?

The operating margin of Yangmei Chemical Co Ltd is −1.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.

How fast is revenue growing at Yangmei Chemical Co Ltd (600691)?

Revenue at Yangmei Chemical Co Ltd is growing −1.8% versus a year earlier (3y avg −16.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.

How fast are earnings growing at Yangmei Chemical Co Ltd (600691)?

Earnings per share at Yangmei Chemical Co Ltd are growing −82.3% versus a year earlier. How much earnings per share grew versus a year earlier.

How much free cash flow does Yangmei Chemical Co Ltd (600691) generate?

The free cash flow of Yangmei Chemical Co Ltd is −116M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.

How much net debt does Yangmei Chemical Co Ltd (600691) carry?

The net debt of Yangmei Chemical Co Ltd is 3.9B CNY (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.

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