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Huaibei Mining Holdings (600985) Fair Value & Analysis

Basic Materials · CN · Market cap 44.5B CNY

HM Huaibei Mining Holdings 600985 · SHG
Price¥16.52
Fair Value¥18.29
Upside+10.7%
Quality40/100
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Weak Growth
Thin margins · 3.2% net margin
Low debt · negative free cash flow
1.52% dividend yield
Trails peers (5/13)
Narrow moat 29/100
Evidence: Medium Range ¥12.13 – ¥18.74 Share as image

Fair value as of: Aug 9, 2026

From 16 valuation models · updated yesterday

Fair value updated Aug 9, 2026, revised from ¥11.97 to ¥18.29 (+52.8%) since Jul 11, 2026. Share price +13.5% over the past month.

Below-average quality, screening 11% undervalued on our models.

What matters now

  • Our model range runs from ¥12.13 (bear) to ¥18.74 (bull), base ¥18.29. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 40/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

¥20.39 ¥8.87 Fair Value ¥18.29 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 ¥8.87 – ¥20.39 · fair‑value band ¥12.13 – ¥18.74 · the ¥16.52 price screens below the ¥18.29 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 9, 2026.

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Analysis

Huaibei Mining Holdings (600985) currently trades at ¥16.52, while our model-based Fair Value estimate is ¥18.29, implying the stock looks roughly 10.7% undervalued today. The Quality Score stands at 40/100 (below-average quality), in the Basic Materials 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, Huaibei Mining Holdings generated revenue of 40.7B CNY at a net margin of 3.2%. Revenue declined 3.7% year over year. It earns a return on equity of 1.7%. Net debt stands at 11.9B CNY. Fundamentals as of Aug 9, 2026

Our scenario range runs from ¥12.13 (bear case) to ¥18.74 (bull case); at ¥16.52, 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 6% below its 52-week high and 50% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at 11%, 600985 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.

Model BearBaseBull Evidence
Highest evidence
Residual Income ¥11.47 ¥11.44 ¥10.26 76
ROIC Compounder ¥2.61 ¥3.33 ¥3.96 72
Gordon GGM ¥6.89 ¥14.32 ¥22.71 70
All 16 models by family
Earnings-Based
Graham-Dodd ¥3.80 ¥26.52 ¥37.21 54
Lynch FV ¥13.70 ¥19.57 ¥25.44 50
PEG = 1.0 ¥13.70 ¥19.57 ¥25.44 46
EPV ¥2.61 ¥3.33 ¥3.96 59
Dividend Discount
Gordon GGM ¥6.89 ¥14.32 ¥22.71 70
DDM Multi-Stage ¥6.89 ¥12.07 ¥15.03 61
Multiples
P/E Multiple ¥7.13 ¥9.51 ¥11.88 63
P/S Multiple ¥7.13 ¥9.51 ¥11.88 58
P/B Multiple ¥7.13 ¥9.51 ¥11.88 55
EV/EBIT ¥5.00 ¥7.23 ¥9.47 53
EV/EBITDA ¥14.55 ¥19.97 ¥25.39 54
EV/Revenue ¥4.10 ¥6.59 ¥9.08 43
Asset-Based
NCAV (Graham) ¥7.69 ¥10.31 ¥15.39 50
Economic Profit
Residual Income ¥11.47 ¥11.44 ¥10.26 76
ROIC Compounder ¥2.61 ¥3.33 ¥3.96 72
Growth Earnings
Growth-Adj P/E ¥16.85 ¥24.08 ¥31.30 68

Widest divergence: Growth Earnings (¥24.08) versus Economic Profit (¥3.33). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 40.7B CNY
Revenue growth (YoY) -3.7%
Net margin 3.2%
Return on equity 1.7%
Free cash flow −1.7B CNY FY2025
P/E ratio 34.1
More key figures
Operating margin 5.5%
EPS (TTM) ¥0.4800
Dividend yield 1.5%
EPS growth (YoY) -30.8%
Net debt 11.9B CNY FY2025

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

Quality Score breakdown

Overall quality 40/100

Of which business quality 41 · Market factors (momentum, volatility) 68

Profitability 24
Margins and returns on capital today
Quality Growth 23
Are margins and returns improving?
Cashflow 39
Earnings quality: real cash, not paper profit
Fin. Strength 41
Balance sheet, leverage, solvency risk
Investment 55
Disciplined investing over empire-building
Low Volatility 73
Calm price path (market factor)
Momentum 64
Price trend over the last 3–12 months (market factor)
52W Momentum 71
Distance to the 52-week high (market factor)
Net Issuance 75
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

Huaibei Mining Holdings Co.,Ltd. primarily engages in coal mining, washing, processing, sales, and production of coal chemical products in China. It operates through Coal Division, Coal Chemical Division, and Logistics Trade segments. The company offers coal products, including coking for smelting, coking, lean, fat, gas, poor, and thermal coals.

Full company description

Huaibei Mining Holdings Co.,Ltd. primarily engages in coal mining, washing, processing, sales, and production of coal chemical products in China. It operates through Coal Division, Coal Chemical Division, and Logistics Trade segments. The company offers coal products, including coking for smelting, coking, lean, fat, gas, poor, and thermal coals. It also provides methanol, ammonium sulfate, coal tar, refined benzene, carbonates, dimethyl carbonate, and ethylamine. It is also involved in the explosives and detonators, non-coal mining, processing and sales, mining construction and installation engineering, electricity generation, and commodity trade business. The company was founded in 1999 and is based in Huaibei City, China. Huaibei Mining Holdings Co.,Ltd. operates as a subsidiary of Huaibei Mining (Group) Co.,Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Huaibei Mining Holdings reported revenue of ¥41.1B in FY2025 versus ¥65.4B in FY2021, a compound −11.0%/yr. Reported net income was ¥1.5B in FY2025, compounding −25.6%/yr from FY2021.

Growth Quality 14/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
41.1B CNY
Latest YoY
−37.5%
Avg. growth/yr (3Y)
−15.9%
Avg. growth/yr (5Y)
−4.7%
Avg. growth/yr (24Y)
+29.1%
Revenue −11.0%/yr
FY21 ¥65.4B
FY22 ¥69.1B
FY23 ¥73.4B
FY24 ¥65.7B
FY25 ¥41.1B
Net income −25.6%/yr
FY21 ¥4.9B
FY22 ¥7.0B
FY23 ¥6.2B
FY24 ¥4.9B
FY25 ¥1.5B

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Cite: Fair Value Calculator (2026). "Huaibei Mining Holdings Fair Value". https://www.fairvalue-calculator.com/stock/600985

Peer Group

Specialty Chemicals · 676 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 40 · Bottom 25%
Fair Value upside +11% · Above median
Return on equity (TTM) 2% · Below median
Return on assets 1% · Below median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 5% · Below median
Revenue growth -4% · Below median
Dividend yield (TTM) 1.5% · Above median
Debt / equity 0.18× · Higher than median

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 34.4× · Pricier than median
P/B 1.07× · Cheaper than median
P/S (TTM) 1.09× · Cheaper than median
EV/EBITDA 8.6× · Cheaper than median

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 48 · sector 0
FUTURE 0 · sector 19
PAST 7 · sector 23
HEALTH 91 · sector 95
DIVIDEND 30 · sector 25

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

Stock Price Fair Value vs Fair Value
Linde plc LIN $489.98 $222.03 -55%
Nan Ya Plastics Corporation 1303 181.50 TWD 255.83 TWD +41%
Wanhua Chemical Group 600309 ¥70.04 ¥68.03 -3%
Novozymes A/S NSISB kr 428.20 kr 179.66 -58%
Asian Paints Limited ASIANPAINT ₹2,689 ₹668.81 -75%
Solar Industries India Limited SOLARINDS ₹18,236 ₹2,793 -85%
Pidilite Industries Limited PIDILITIND ₹1,560 ₹351.84 -77%
PT Chandra Asri Pacific Tbk TPIA 1,805 IDR 2,888 IDR +60%
Linde India Limited LINDEINDIA ₹7,115 ₹757.93 -89%
Berger Paints India Limited BERGEPAINT ₹493.70 ₹164.29 -67%

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Frequently asked questions

Is Huaibei Mining Holdings (600985) overvalued or undervalued?
As of Aug 9, 2026, our model estimates a fair value of ¥18.29 versus a price of ¥16.52, about +11% (undervalued).
What is the fair value of 600985?
Our model-based fair value for Huaibei Mining Holdings is ¥18.29 (as of Aug 9, 2026), built from audited fundamentals. The current price is ¥16.52.
What is the quality score of 600985?
Huaibei Mining Holdings has a Quality Score of 40/100. 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 Huaibei Mining Holdings (600985)?
Huaibei Mining Holdings reported trailing-twelve-month revenue of about 40.7B CNY (latest available figure, as of Aug 9, 2026).
What is the net profit margin of 600985?
The net profit margin of Huaibei Mining Holdings is about 3.2%, meaning it keeps roughly 3.2% of revenue as net income. Based on the latest reported figures.
Does Huaibei Mining Holdings pay a dividend?
Huaibei Mining Holdings currently shows a dividend yield of about 1.50% 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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