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Jinko Power Technology Co (601778) Fair Value & Analysis

Utilities · CN · Market cap 14.4B CNY

JP Jinko Power Technology Co 601778 · SHG
Price¥3.88
Fair Value¥2.40
Upside-38.1%
Quality44/100
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Mixed Growth
Thin margins · 7.0% net margin
Moderate debt · generates free cash flow
0.72% dividend yield
Trails peers (4/14)
Narrow moat 35/100
Evidence: High Range ¥1.32 – ¥2.40 Share as image

Fair value as of: Aug 10, 2026

From 25 valuation models · updated today

Fair value updated Aug 10, 2026, revised from ¥2.71 to ¥2.40 (−11.4%) since Jul 11, 2026. Share price +2.4% over the past month.

Below-average quality, and screening another 38% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥2.40). The favourable scenario is already priced in.
  • Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (¥1.32 to ¥2.40) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥10.74 ¥2.12 Fair Value ¥2.40 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 10, 2026.

How to read this chart

60‑month range ¥2.12 – ¥10.74 · fair‑value band ¥1.32 – ¥2.40 · the ¥3.88 price screens above the ¥2.40 fair value. Dashed = 300-day average. As of Aug 10, 2026.

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Analysis

Jinko Power Technology Co (601778) currently trades at ¥3.88, while our model-based Fair Value estimate is ¥2.40, implying the stock looks roughly 38.1% overvalued today. The Quality Score stands at 44/100 (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: high).

Over the trailing twelve months, Jinko Power Technology Co generated revenue of 3.4B CNY at a net margin of 7.0%. Revenue declined 47.6% year over year. It earns a return on equity of 1.5%. Net debt stands at 7.9B CNY. Fundamentals as of Aug 10, 2026

Our scenario range runs from ¥1.32 (bear case) to ¥2.40 (bull case); at ¥3.88, 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 51% below its 52-week high and 48% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -30% fair-value upside, at -38%, 601778 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 BearBaseBull Evidence
Highest evidence
Growth DCF ¥2.59 ¥4.53 ¥7.27 80
Residual Income ¥3.08 ¥2.97 ¥2.38 76
Rev-Margin DCF ¥0.9500 ¥2.12 ¥3.45 74
All 25 models by family
DCF Models
FCF DCF ¥2.50 ¥4.67 ¥7.91 38
5Y Revenue Exit ¥0.9500 ¥2.07 ¥3.43 39
5Y EBITDA Exit ¥2.55 ¥5.01 ¥7.83 41
5Y P/E Exit ¥0.5100 ¥1.25 ¥1.99 38
10Y Revenue Exit ¥1.43 ¥2.56 ¥3.98 36
10Y EBITDA Exit ¥2.49 ¥4.59 ¥7.29 37
10Y P/E Exit ¥1.20 ¥2.00 ¥2.90 35
Earnings-Based
Graham-Dodd ¥0.6000 ¥1.74 ¥2.30 54
Lynch FV ¥0.3600 ¥0.5200 ¥0.6700 50
PEG = 1.0 ¥0.3600 ¥0.5200 ¥0.6700 46
EPV ¥0.8400 ¥1.26 ¥1.62 59
Dividend Discount
Gordon GGM ¥1.60 ¥3.34 ¥5.29 70
DDM Multi-Stage ¥1.60 ¥2.57 ¥3.50 61
Multiples
P/E Multiple ¥1.20 ¥1.59 ¥1.99 63
P/S Multiple ¥1.13 ¥1.51 ¥1.88 58
P/B Multiple ¥1.13 ¥1.51 ¥1.88 55
EV/EBIT ¥1.62 ¥2.70 ¥3.78 53
EV/EBITDA ¥3.12 ¥4.70 ¥6.28 54
EV/Revenue ¥0.2100 ¥0.9900 ¥1.78 43
Asset-Based
NCAV (Graham) ¥2.17 ¥2.90 ¥4.33 50
Growth DCF
Growth DCF ¥2.59 ¥4.53 ¥7.27 80
Rev-Margin DCF ¥0.9500 ¥2.12 ¥3.45 74
Economic Profit
Residual Income ¥3.08 ¥2.97 ¥2.38 76
ROIC Compounder ¥0.8400 ¥1.26 ¥1.62 72
Growth Earnings
Growth-Adj P/E ¥0.9800 ¥1.40 ¥1.82 68

Widest divergence: Asset-Based (¥2.90) versus Earnings-Based (¥0.5200). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 3.4B CNY
Revenue growth (YoY) -47.6%
Net margin 7.0%
Return on equity 1.5%
Free cash flow 1.4B CNY FY2025
P/E ratio 64.7
More key figures
Operating margin 4.8%
EPS (TTM) ¥0.0600
Dividend yield 0.7%
EPS growth (YoY) +99.9%
Net debt 7.9B CNY FY2025

Figures from reported company fundamentals · as of Aug 10, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100

Of which business quality 45 · Market factors (momentum, volatility) 32

Profitability 19
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 75
Earnings quality: real cash, not paper profit
Fin. Strength 33
Balance sheet, leverage, solvency risk
Investment 45
Disciplined investing over empire-building
Low Volatility 38
Calm price path (market factor)
Momentum 27
Price trend over the last 3–12 months (market factor)
52W Momentum 34
Distance to the 52-week high (market factor)
Net Issuance 45
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

Jinko Power Technology Co., Ltd., together with its subsidiaries, operates as an clean energy supplier and service provider. The company provides centralized power station systems, industrial and commercial distributed systems, residential photovoltaic systems, source grid load storage integration, and other smart systems solutions.

Full company description

Jinko Power Technology Co., Ltd., together with its subsidiaries, operates as an clean energy supplier and service provider. The company provides centralized power station systems, industrial and commercial distributed systems, residential photovoltaic systems, source grid load storage integration, and other smart systems solutions. It also offers electricity transaction, energy storage, industry decarburization, virtual power plant, PV-to-hydrogen, and carbon emission related products. The company was founded in 2011 and is headquartered in Shanghai, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jinko Power Technology Co reported revenue of ¥3.9B in FY2025 versus ¥3.8B in FY2021, a compound +0.9%/yr. Reported net income was ¥330M in FY2025, compounding +0.2%/yr from FY2021.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
3.9B CNY
Avg. growth/yr (3Y)
+8.2%
Avg. growth/yr (5Y)
−2.2%
Avg. growth/yr (9Y)
+25.6%
Revenue +0.9%/yr
FY21 ¥3.8B
FY22 ¥3.2B
FY23 ¥4.4B
FY24 ¥4.8B
FY25 ¥3.9B
Net income +0.2%/yr
FY21 ¥327M
FY22 ¥217M
FY23 ¥383M
FY24 ¥324M
FY25 ¥330M

601778 screens 38% overvalued. Compare with China Yangtze Power Co →

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Cite: Fair Value Calculator (2026). "Jinko Power Technology Co Fair Value". https://www.fairvalue-calculator.com/stock/601778

Peer Group

Utilities - Renewable · 220 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 44 · Above median
Fair Value upside −38% · Below median
Return on equity (TTM) 2% · Below median
Return on assets 1% · Below median
Net margin (TTM) 7% · Above median
Operating margin (TTM) 5% · Below median
Revenue growth -48% · Bottom 25%
Dividend yield (TTM) 0.7% · Below median
Debt / equity 0.74× · Higher than median

Valuation Multiples vs Utilities - Renewable median · lower = cheaper

P/E (TTM) 64.7× · Pricier than 75% of peers
P/B 0.90× · Cheaper than median
P/S (TTM) 4.29× · Pricier than median
P/FCF 1.6× · Cheaper than median
EV/EBITDA 9.8× · Pricier 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 0 · sector 15
FUTURE 0 · sector 0
PAST 6 · sector 12
HEALTH 63 · sector 68
DIVIDEND 14 · sector 48

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 Utilities - Renewable stocks, each showing price versus our Fair Value estimate (as of Aug 10, 2026).

Stock Price Fair Value vs Fair Value
China Yangtze Power Co 600900 ¥27.99 ¥25.13 -10%
Ørsted A/S ORSTED kr 149.70 kr 31.40 -79%
Huaneng Lancang River Hydropower Inc 600025 ¥9.81 ¥5.57 -43%
Adani Green Energy Limited ADANIGREEN ₹1,537 ₹170.50 -89%
AXIA Energia SA AXIAP $10.74 $9.65 -10%
VERBUND AG OEWA €58.65 €66.19 +13%
BEP BEP $32.33 $73.35 +127%
BEPUN BEPUN C$44.56 C$10.15 -77%
Fortum Oyj FORTUM €19.89 €13.90 -30%
China Longyuan Power Group 001289 ¥16.21 ¥8.23 -49%

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Frequently asked questions

Is Jinko Power Technology Co (601778) overvalued or undervalued?
As of Aug 10, 2026, our model estimates a fair value of ¥2.40 versus a price of ¥3.88, about −38% (overvalued).
What is the fair value of 601778?
Our model-based fair value for Jinko Power Technology Co is ¥2.40 (as of Aug 10, 2026), built from audited fundamentals. The current price is ¥3.88.
What is the quality score of 601778?
Jinko Power Technology Co has a Quality Score of 44/100. 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 Jinko Power Technology Co (601778)?
Jinko Power Technology Co reported trailing-twelve-month revenue of about 3.4B CNY (latest available figure, as of Aug 10, 2026).
What is the net profit margin of 601778?
The net profit margin of Jinko Power Technology Co is about 7.0%, meaning it keeps roughly 7.0% of revenue as net income. Based on the latest reported figures.

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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