Dalian Thermal Power Co (600719) Fair Value & Analysis
Utilities · CN · Market cap 3.1B CNY
Fair value as of: Aug 9, 2026
From 4 valuation models · updated yesterday
Fair value updated Aug 9, 2026, revised from ¥2.17 to ¥1.98 (−8.8%) since Jul 11, 2026. Share price +4.2% over the past month.
Below-average quality, and screening another 74% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (¥1.98). The favourable scenario is already priced in.
- Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
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 ¥3.16 – ¥11.78 · fair‑value band ¥1.67 – ¥1.98 · the ¥7.65 price screens above the ¥1.98 fair value. Dashed = 300-day average. As of Aug 9, 2026.
Analysis
Dalian Thermal Power Co (600719) currently trades at ¥7.65, while our model-based Fair Value estimate is ¥1.98, implying the stock looks roughly 74.1% overvalued today. The Quality Score stands at 37/100 (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: low).
Over the trailing twelve months, Dalian Thermal Power Co generated revenue of 603M CNY at a net margin of -9.9%. Revenue declined 0.6% year over year. It earns a return on equity of -13.8%. Net debt stands at 1.5B CNY. Fundamentals as of Aug 9, 2026
Our scenario range runs from ¥1.67 (bear case) to ¥1.98 (bull case); at ¥7.65, 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 35% below its 52-week high and 39% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at -59% fair-value upside, at -74%, 600719 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.
All 4 models by family
Widest divergence: Dividend Discount (¥2.00) versus Asset-Based (¥0.5100). Highest evidence: Gordon GGM (70).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 9, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 31 · Market factors (momentum, volatility) 48
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
Dalian Thermal Power Co.,Ltd. engages in the cogeneration and central heating business in China. The company produces hot water through coal-fired boilers to supply heat. It also provides combined heat and power for heating; and produces electricity, steam, and high-temperature water through power plants.
Full company description
Dalian Thermal Power Co.,Ltd. engages in the cogeneration and central heating business in China. The company produces hot water through coal-fired boilers to supply heat. It also provides combined heat and power for heating; and produces electricity, steam, and high-temperature water through power plants. In addition, the company purchases and sells industrial production materials; and the generation and sale of electricity. It provides its services to urban residents, enterprises, and institutions. Dalian Thermal Power Co.,Ltd. was incorporated in 1993 and is headquartered in Dalian, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Dalian Thermal Power Co reported revenue of ¥605M in FY2025 versus ¥660M in FY2021, a compound −2.1%/yr. Reported net income was −¥94.7M in FY2025.
600719 screens 74% overvalued. Compare with Constellation Energy Corporation →
Peer Group
Utilities - Independent Power Producers · 78 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 - Independent Power Producers median · lower = cheaper
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.
Similar stocks
10 more Utilities - Independent Power Producers stocks, each showing price versus our Fair Value estimate (as of Aug 9, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Constellation Energy Corporation CEG | $257.57 | $89.08 | -65% |
| Vistra Corp VST | $158.86 | $47.59 | -70% |
| Adani Power Limited ADANIPOWER | ₹218.45 | ₹75.57 | -65% |
| CGN Power Co 003816 | ¥3.88 | ¥3.13 | -19% |
| NRG Energy, Inc NRG | $137.90 | $56.02 | -59% |
| Gulf Development Public Company GULF | 67.50 THB | 40.44 THB | -40% |
| Adani Energy Solutions Limited ADANIENSOL | ₹1,730 | ₹342.02 | -80% |
| Talen Energy Corporation TLN | $372.37 | $44.67 | -88% |
| Datang International Power Generation Co 601991 | ¥5.80 | ¥4.95 | -15% |
| Power Assets Holdings 0006 | HK$58.45 | HK$31.90 | -45% |
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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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