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Ningbo Fubang Jingye Group (600768) Fair Value & Analysis

Basic Materials · CN · Market cap 2.0B CNY

NF Ningbo Fubang Jingye Group 600768 · SHG
Price¥14.99
Fair Value¥4.17
Upside-72.2%
Quality55/100
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Expensive Growth
Thin margins · 6.1% net margin
Low debt · negative free cash flow
0.34% dividend yield
Mixed vs. peers (7/13)
Moderate moat 50/100
Evidence: Medium Range ¥2.98 – ¥5.88 Share as image

Fair value as of: Aug 9, 2026

From 17 valuation models · updated yesterday

Fair value updated Aug 9, 2026, revised from ¥5.11 to ¥4.17 (−18.4%) since Jul 11, 2026. Share price −1.4% over the past month.

A solid business, but screening 72% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥5.88). The favourable scenario is already priced in.
  • Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (¥2.98 to ¥5.88) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥19.32 ¥6.22 Fair Value ¥4.17 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 ¥6.22 – ¥19.32 · fair‑value band ¥2.98 – ¥5.88 · the ¥14.99 price screens above the ¥4.17 fair value. Dashed = 300-day average. As of Aug 9, 2026.

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Analysis

Ningbo Fubang Jingye Group (600768) currently trades at ¥14.99, while our model-based Fair Value estimate is ¥4.17, implying the stock looks roughly 72.2% overvalued today. The Quality Score stands at 55/100 (solid quality), in the Basic Materials 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, Ningbo Fubang Jingye Group generated revenue of 1.3B CNY at a net margin of 6.1%. Revenue grew 83.7% year over year. It earns a return on equity of 25.0%. Net debt stands at 48.4M CNY. Fundamentals as of Aug 9, 2026

Our scenario range runs from ¥2.98 (bear case) to ¥5.88 (bull case); at ¥14.99, 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 24% below its 52-week high and 44% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at 19% fair-value upside, at -72%, 600768 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.

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 ¥2.92 ¥3.41 ¥5.85 76
ROIC Compounder ¥3.84 ¥4.42 ¥5.07 72
Gordon GGM ¥1.55 ¥2.79 ¥3.84 70
All 17 models by family
DCF Models
Owner Earnings ¥4.98 ¥6.62 ¥8.71 31
Earnings-Based
Graham-Dodd ¥2.98 ¥8.01 ¥10.48 54
Lynch FV ¥1.56 ¥2.23 ¥2.90 50
PEG = 1.0 ¥1.56 ¥2.23 ¥2.90 46
EPV ¥3.76 ¥4.16 ¥4.50 59
Dividend Discount
Gordon GGM ¥1.55 ¥2.79 ¥3.84 70
DDM Multi-Stage ¥1.55 ¥2.27 ¥2.94 61
Multiples
P/E Multiple ¥5.59 ¥7.45 ¥9.31 63
P/S Multiple ¥5.59 ¥7.45 ¥9.31 58
P/B Multiple ¥5.59 ¥7.45 ¥9.31 55
EV/EBIT ¥5.11 ¥6.55 ¥7.99 53
EV/EBITDA ¥4.47 ¥5.69 ¥6.91 54
EV/Revenue ¥4.54 ¥6.14 ¥7.74 43
Asset-Based
NCAV (Graham) ¥1.61 ¥2.15 ¥3.21 50
Economic Profit
Residual Income ¥2.92 ¥3.41 ¥5.85 76
ROIC Compounder ¥3.84 ¥4.42 ¥5.07 72
Growth Earnings
Growth-Adj P/E ¥4.49 ¥6.41 ¥8.34 68

Widest divergence: DCF Models (¥6.62) versus Asset-Based (¥2.15). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 1.3B CNY
Revenue growth (YoY) +83.7%
Net margin 6.1%
Return on equity 25.0%
Free cash flow −120M CNY FY2025
P/E ratio 25.6
More key figures
Operating margin 17.7%
EPS (TTM) ¥0.6100
Dividend yield 0.3%
EPS growth (YoY) +425%
Net debt 48.4M CNY FY2025

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

Quality Score breakdown

Overall quality 55/100

Of which business quality 51 · Market factors (momentum, volatility) 47

Profitability 45
Margins and returns on capital today
Quality Growth 69
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 63
Balance sheet, leverage, solvency risk
Investment 62
Disciplined investing over empire-building
Low Volatility 66
Calm price path (market factor)
Momentum 33
Price trend over the last 3–12 months (market factor)
52W Momentum 48
Distance to the 52-week high (market factor)
Net Issuance 92
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

Ningbo Fubang Jingye Group Co.,Ltd engages in the production, processing, and sale of industrial aluminum plates, strips, and aluminum profiles in China and internationally. It also trades in aluminum casting rods, as well as offers warehousing services.

Full company description

Ningbo Fubang Jingye Group Co.,Ltd engages in the production, processing, and sale of industrial aluminum plates, strips, and aluminum profiles in China and internationally. It also trades in aluminum casting rods, as well as offers warehousing services. The company also engages in automobile repair, wholesale of coal, manufacturing and processing of non-ferrous metal composite materials, new alloy materials, manufacturing and processing of aluminum and aluminum alloy sheets, strips, foils, and aluminum profile products; processing of plastic products and auto parts; wholesale and retail of electromechanical equipment, loading and unloading machinery. In addition, it offers vehicle accessories, textile raw materials, hardware and electrical appliances, building materials, metal materials, chemical raw materials, rubber products, wood, daily necessities, and textile products; lifting and installation; loading and unloading; warehousing; cargo yard leasing; parking lot; and real estate development. The company was formerly known as Ningbo Huatong Transportation Co., Ltd. Ningbo Fubang Jingye Group Co.,Ltd was founded in 2002 and is headquartered in Ningbo, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Ningbo Fubang Jingye Group reported revenue of ¥1.2B in FY2025 versus ¥417M in FY2021, a compound +29.1%/yr. Reported net income was ¥58.6M in FY2025, compounding +101.6%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
1.2B CNY
Latest YoY
+10.8%
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.
+56.3%
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.
+18.5%
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.
+9.8%
Revenue +29.1%/yr
FY21 ¥417M
FY22 ¥303M
FY23 ¥762M
FY24 ¥1.0B
FY25 ¥1.2B
Net income +101.6%/yr
FY21 ¥3.6M
FY22 ¥172M
FY23 ¥21.6M
FY24 ¥1.6M
FY25 ¥58.6M

600768 screens 72% overvalued. Compare with Shandong Hongqiao Aluminum Industry Holding →

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Cite: Fair Value Calculator (2026). "Ningbo Fubang Jingye Group Fair Value". https://www.fairvalue-calculator.com/stock/600768

Peer Group

Aluminum · 83 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 55 · Above median
Fair Value upside −72% · Bottom 25%
Return on equity (TTM) 25% · Top 25%
Return on assets 5% · Above median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 18% · Top 25%
Revenue growth 84% · Top 25%
Dividend yield (TTM) 0.3% · Below median
Debt / equity 0.08× · Lower than median

Valuation Multiples vs Aluminum median · lower = cheaper

P/E (TTM) 24.1× · Pricier than median
P/B 4.57× · Pricier than 75% of peers
P/S (TTM) 1.46× · Pricier than 75% of peers
EV/EBITDA 17.7× · Pricier 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 0 · sector 13
FUTURE 100 · sector 26
PAST 100 · sector 30
HEALTH 96 · sector 91
DIVIDEND 7 · sector 33

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.

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

Stock Price Fair Value vs Fair Value
Shandong Hongqiao Aluminum Industry Holding 002379 ¥18.54 ¥26.70 +44%
China Hongqiao Group 1378 HK$24.54 HK$45.53 +86%
Hindalco Industries Limited HINDALCO ₹955.80 ₹1,026 +7%
Aluminum Corporation 601600 ¥8.11 ¥12.58 +55%
Norsk Hydro ASA NHY kr 84.96 kr 58.10 -32%
Press Metal Aluminium Holdings 8869 8.02 MYR 3.88 MYR -52%
Alcoa Corporation AAI A$70.60 A$49.53 -30%
Yunnan Aluminium Co 000807 ¥25.12 ¥29.68 +18%
Henan Shenhuo Coal Industry and Electricity Power Co 000933 ¥25.51 ¥30.28 +19%
Tianshan Aluminum Group 002532 ¥11.99 ¥21.86 +82%

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Frequently asked questions

Is Ningbo Fubang Jingye Group (600768) overvalued or undervalued?
As of Aug 9, 2026, our model estimates a fair value of ¥4.17 versus a price of ¥14.99, about −72% (overvalued).
What is the fair value of 600768?
Our model-based fair value for Ningbo Fubang Jingye Group is ¥4.17 (as of Aug 9, 2026), built from audited fundamentals. The current price is ¥14.99.
What is the quality score of 600768?
Ningbo Fubang Jingye Group has a Quality Score of 55/100. 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 Ningbo Fubang Jingye Group (600768)?
Ningbo Fubang Jingye Group reported trailing-twelve-month revenue of about 1.3B CNY (latest available figure, as of Aug 9, 2026).
What is the net profit margin of 600768?
The net profit margin of Ningbo Fubang Jingye Group is about 6.1%, meaning it keeps roughly 6.1% of revenue as net income. Based on the latest reported figures.
Does Ningbo Fubang Jingye Group pay a dividend?
Ningbo Fubang Jingye Group currently shows a dividend yield of about 0.33% 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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