Ningbo Ocean Shipping Co (601022) Fair Value & Analysis
Industrials · CN · Market cap 10.5B CNY
Fair value as of: Aug 9, 2026
From 16 valuation models · updated yesterday
Share price +5.1% over the past month.
A solid business, screening 30% undervalued on our models.
What matters now
- Solid quality (61/100) at a price below fair value, the discount is the argument here, not the business quality.
- Our model range runs from ¥7.40 (bear) to ¥13.12 (bull), base ¥10.50. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 61/100 (solid quality) with high evidence: the data supports the verdict.
Price vs Fair Value (4 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
44‑month range ¥6.91 – ¥16.76 · fair‑value band ¥7.40 – ¥13.12 · the ¥8.05 price screens below the ¥10.50 fair value. Dashed = 300-day average. As of Aug 9, 2026.
Analysis
Ningbo Ocean Shipping Co (601022) currently trades at ¥8.05, while our model-based Fair Value estimate is ¥10.50, implying the stock looks roughly 30.4% undervalued today. The Quality Score stands at 61/100 (solid quality), in the Industrials 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: high), always confirm before acting.
Over the trailing twelve months, Ningbo Ocean Shipping Co generated revenue of 6.3B CNY at a net margin of 9.8%. Revenue grew 14.4% year over year. It earns a return on equity of 10.1%. Net debt stands at 375M CNY. Fundamentals as of Aug 9, 2026
Our scenario range runs from ¥7.40 (bear case) to ¥13.12 (bull case); at ¥8.05, 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 29% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 67% fair-value upside, at 30%, 601022 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 16 models by family
Widest divergence: Growth Earnings (¥10.57) versus Asset-Based (¥3.14). Highest evidence: Residual Income (76).
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 62 · Market factors (momentum, volatility) 34
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 Ocean Shipping Co., Ltd., together with its subsidiaries, provides shipping services in Japan, South Korea, Taiwan, and Southeast Asia. It operates through two segments: Transportation Services, and Integrated Logistics and Agency Services.
Full company description
Ningbo Ocean Shipping Co., Ltd., together with its subsidiaries, provides shipping services in Japan, South Korea, Taiwan, and Southeast Asia. It operates through two segments: Transportation Services, and Integrated Logistics and Agency Services. The company offers near-sea, trans-oceanic, trade, and feeder container shipping services; dry bulk cargo transportation services; and dry bulk freight forwarding services. It is also involved in the shipping agency business, including handling customs declaration, port entry/exit procedures; arranging pilotage, berthing, and loading and unloading; accepting bookings; signing bills of lading and transportation contracts; undertaking cargo transportation; handling the consignment and transshipment of vessels, containers, and goods; collecting freight charges; and handling settlements. As of December 31, 2025, the company operated 113 container ships; and 10 bulk carriers with a capacity of 265,700 deadweight tons. Ningbo Ocean Shipping Co., Ltd. was incorporated in 1992 and is based in Ningbo, China. Ningbo Ocean Shipping Co., Ltd. operates as a subsidiary of Ningbo Zhoushan Port Company Limited.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Ningbo Ocean Shipping Co reported revenue of ¥6.1B in FY2025 versus ¥3.8B in FY2021, a compound +12.5%/yr. Reported net income was ¥654M in FY2025, compounding +5.9%/yr from FY2021.
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Peer Group
Marine Shipping · 231 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 Marine Shipping 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 Marine Shipping stocks, each showing price versus our Fair Value estimate (as of Aug 9, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Adani Ports and Special Economic Zone Limited ADANIPORTS | ₹1,828 | ₹1,041 | -43% |
| A.P. Møller - Mærsk A/S MAERSKA | kr 16,520 | kr 3,033 | -82% |
| COSCO SHIPPING Holdings 601919 | ¥13.98 | ¥40.37 | +189% |
| Shanghai International Port (Group) Co 600018 | ¥5.17 | ¥6.57 | +27% |
| HMM Co 011200 | 20,050 KRW | 33,855 KRW | +69% |
| Ningbo Zhoushan Port Company 601018 | ¥3.35 | ¥5.58 | +67% |
| Qingdao Port International Co 601298 | ¥8.88 | ¥15.97 | +80% |
| JSW Infrastructure Limited JSWINFRA | ₹330.05 | ₹126.31 | -62% |
| Wan Hai Lines Ltd 2615 | 80.70 TWD | 212.79 TWD | +164% |
| Wallenius Wilhelmsen ASA WAWI | kr 137.70 | kr 50.56 | -63% |
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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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