Inner Mongolia MengDian HuaNeng Thermal Power Corporation (600863) Fair Value & Analysis
Utilities · CN · Market cap 37.0B CNY
Fair value as of: Aug 9, 2026
From 26 valuation models · updated yesterday
Share price +8.3% over the past month.
A solid business, screening 21% undervalued on our models.
What matters now
- Solid quality (57/100) at a price below fair value, the discount is the argument here, not the business quality.
- A fairly wide model range (¥3.71 to ¥7.16) 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 ¥2.07 – ¥7.92 · fair‑value band ¥3.71 – ¥7.16 · the ¥4.72 price screens below the ¥5.73 fair value. Dashed = 300-day average. As of Aug 9, 2026.
Analysis
Inner Mongolia MengDian HuaNeng Thermal Power Corporation (600863) currently trades at ¥4.72, while our model-based Fair Value estimate is ¥5.73, implying the stock looks roughly 21.4% undervalued today. The Quality Score stands at 57/100 (solid quality), in the Utilities 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, Inner Mongolia MengDian HuaNeng Thermal Power Corporation generated revenue of 20.3B CNY at a net margin of 11.2%. Revenue declined 13.6% year over year. It earns a return on equity of 11.0%. Net debt stands at 10.3B CNY. Fundamentals as of Aug 9, 2026
Our scenario range runs from ¥3.71 (bear case) to ¥7.16 (bull case); at ¥4.72, the current price sits within 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 41% below its 52-week high and 19% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -59% fair-value upside, at 21%, 600863 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.
All 26 models by family
Widest divergence: Growth DCF (¥6.68) versus Asset-Based (¥1.35). Highest evidence: Growth DCF (80).
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 56 · Market factors (momentum, volatility) 47
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
Inner Mongolia MengDian HuaNeng Thermal Power Corporation Limited engages in thermal power generation and heating businesses in China.
Full company description
Inner Mongolia MengDian HuaNeng Thermal Power Corporation Limited engages in thermal power generation and heating businesses in China. The company is involved in the production, supply, sale, maintenance, and management of steam and hot water, wind and solar power, and other energy power generation assets; and development, construction, operation, and management of coal, coal chemical, and deep coal processing projects. It also invests in limestone and raw materials related to power production; engages in railway supporting infrastructure; and provision of management and consulting services. The company was founded in 1993 and is headquartered in Hohhot, China. Inner Mongolia MengDian HuaNeng Thermal Power Corporation Limited operates as a subsidiary of Northern United Electric Power Co., Ltd.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Inner Mongolia MengDian HuaNeng Thermal Power Corporation reported revenue of ¥21.1B in FY2025 versus ¥19.0B in FY2021, a compound +2.6%/yr. Reported net income was ¥2.5B in FY2025, compounding +49.8%/yr from FY2021.
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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
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.
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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Frequently asked questions
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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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