Ningbo Energy Group (600982) Fair Value & Analysis
Utilities · CN · Market cap 5.7B CNY
Fair value as of: Aug 8, 2026
From 23 valuation models · updated 2 days ago
Share price +12.8% over the past month.
Below-average quality, and screening another 15% overvalued on our models.
What matters now
- Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts.
- Our model range runs from ¥3.13 (bear) to ¥5.42 (bull), base ¥4.33. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 41/100 (below-average quality) with medium evidence: read the verdict with care.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 8, 2026.
How to read this chart
60‑month range ¥2.88 – ¥7.38 · fair‑value band ¥3.13 – ¥5.42 · the ¥5.10 price screens above the ¥4.33 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 8, 2026.
Analysis
Ningbo Energy Group (600982) currently trades at ¥5.10, while our model-based Fair Value estimate is ¥4.33, implying the stock looks roughly 15.1% overvalued today. The Quality Score stands at 41/100 (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: medium).
Over the trailing twelve months, Ningbo Energy Group generated revenue of 3.8B CNY at a net margin of 9.2%. Revenue declined 5.4% year over year. It earns a return on equity of 7.2%. Net debt stands at 5.0B CNY. Fundamentals as of Aug 8, 2026
Our scenario range runs from ¥3.13 (bear case) to ¥5.42 (bull case); at ¥5.10, 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 34% below its 52-week high and 19% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at -27% fair-value upside, at -15%, 600982 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 23 models by family
Widest divergence: Growth Earnings (¥5.75) versus Economic Profit (¥0.3400). Highest evidence: Residual Income (76).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 8, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 39 · Market factors (momentum, volatility) 42
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 Energy Group Co.,Ltd., together with its subsidiaries, engages in the power generation activities in China. It operates coal-fired power plants, coal-fired gas-fired thermal power plants, hydroelectric, and renewable energy power plants.
Full company description
Ningbo Energy Group Co.,Ltd., together with its subsidiaries, engages in the power generation activities in China. It operates coal-fired power plants, coal-fired gas-fired thermal power plants, hydroelectric, and renewable energy power plants. The company is also involved in the cogeneration of heat and power, biomass power generation, pumped storage power generation, bulk commodity trading, and energy storage management; provision of bulk commodities, such as steam and electricity, coal, refined oil, and asphalt; heat supply activities; financial leasing; waste disposal; waterway transportation; provision of technical, energy management, and warehouse logistics services; technology research and development; fuel sales; and construction and operation of urban energy infrastructure. The company was formerly known as NINGBO THERMAL POWER CO.,LTD. and changed its name to Ningbo Energy Group Co.,Ltd. in December 2020. Ningbo Energy Group Co.,Ltd. was founded in 1994 and is based in Ningbo, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2020 – FY2024 · reported fiscal years
Ningbo Energy Group reported revenue of ¥4.2B in FY2024 versus ¥5.4B in FY2020, a compound −5.9%/yr. Reported net income was ¥285M in FY2024, compounding +2.3%/yr from FY2020.
600982 screens 15% overvalued. Compare with NextEra Energy, Inc →
Peer Group
Utilities - Regulated Electric · 154 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 - Regulated Electric 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 - Regulated Electric stocks, each showing price versus our Fair Value estimate (as of Aug 8, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| NextEra Energy, Inc NEE | $88.80 | $32.94 | -63% |
| The Southern Company SO | $95.61 | $61.06 | -36% |
| Duke Energy Corporation DUK | $126.11 | $97.11 | -23% |
| National Grid plc NGG | 61,175 ARS | 44,377 ARS | -27% |
| American Electric Power Company AEP | $132.50 | $79.33 | -40% |
| Dominion Energy, Inc D | $70.08 | $46.92 | -33% |
| NTPC Limited NTPC | ₹341.85 | ₹377.16 | +10% |
| CEZ, a. s. CEZ | 232.40 PLN | 159.33 PLN | -31% |
| Power Grid Corporation POWERGRID | ₹283.55 | ₹252.77 | -11% |
| China National Nuclear Power Co 601985 | ¥8.91 | ¥7.69 | -14% |
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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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