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Lanpec Technologies Limited (601798) Fair Value & Analysis

Energy · CN · Market cap 2.7B CNY

LT Lanpec Technologies Limited 601798 · SHG
Price¥7.66
Fair Value¥1.92
Upside-74.9%
Quality69/100
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Weak Growth
Thin margins · 5.6% net margin
Low debt · generates free cash flow
Mixed vs. peers (6/14)
Narrow moat 36/100
Evidence: High Range ¥1.44 – ¥2.40 Share as image

Fair value as of: Aug 8, 2026

From 24 valuation models · updated 2 days ago

Share price +10.4% over the past month.

A solid business, but screening 75% 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.
  • Solid but not exceptional quality (69/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥12.53 ¥4.65 Fair Value ¥1.92 Mar 2021 Aug 2026

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 ¥4.65 – ¥12.53 · fair‑value band ¥1.44 – ¥2.40 · the ¥7.66 price screens above the ¥1.92 fair value. Dashed = 300-day average. As of Aug 8, 2026.

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Analysis

Lanpec Technologies Limited (601798) currently trades at ¥7.66, while our model-based Fair Value estimate is ¥1.92, implying the stock looks roughly 74.9% overvalued today. The Quality Score stands at 69/100 (solid quality), in the Energy 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, Lanpec Technologies Limited generated revenue of 981M CNY at a net margin of 5.6%. Revenue declined 8.9% year over year. It earns a return on equity of 4.3%. Net debt stands at 69.6M CNY. Fundamentals as of Aug 8, 2026

Our scenario range runs from ¥1.44 (bear case) to ¥2.40 (bull case); at ¥7.66, 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 35% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Energy peers we cover trades at -36% fair-value upside, at -75%, 601798 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 Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ¥3.87 ¥5.24 ¥7.10 80
Residual Income ¥2.64 ¥2.58 ¥2.25 76
Rev-Margin DCF ¥2.74 ¥3.64 ¥4.68 74
All 24 models by family
DCF Models
FCF DCF ¥3.82 ¥5.36 ¥7.60 38
Owner Earnings ¥2.73 ¥3.72 ¥5.16 31
5Y Revenue Exit ¥2.74 ¥3.60 ¥4.67 39
5Y EBITDA Exit ¥2.50 ¥3.17 ¥3.91 41
5Y P/E Exit ¥2.68 ¥3.50 ¥4.33 38
10Y Revenue Exit ¥3.07 ¥3.94 ¥5.04 36
10Y EBITDA Exit ¥2.97 ¥3.65 ¥4.48 37
10Y P/E Exit ¥3.08 ¥3.87 ¥4.79 35
Earnings-Based
Graham-Dodd ¥0.9300 ¥2.78 ¥3.68 54
Lynch FV ¥0.5900 ¥0.8400 ¥1.09 50
PEG = 1.0 ¥0.5900 ¥0.8400 ¥1.09 46
EPV ¥2.04 ¥2.25 ¥2.42 59
Multiples
P/E Multiple ¥1.44 ¥1.92 ¥2.40 63
P/S Multiple ¥1.75 ¥2.33 ¥2.92 58
P/B Multiple ¥1.75 ¥2.33 ¥2.92 55
EV/EBIT ¥1.94 ¥2.33 ¥2.73 53
EV/EBITDA ¥1.88 ¥2.25 ¥2.63 54
EV/Revenue ¥2.19 ¥2.80 ¥3.42 43
Asset-Based
NCAV (Graham) ¥1.81 ¥2.42 ¥3.61 50
Growth DCF
Growth DCF ¥3.87 ¥5.24 ¥7.10 80
Rev-Margin DCF ¥2.74 ¥3.64 ¥4.68 74
Economic Profit
Residual Income ¥2.64 ¥2.58 ¥2.25 76
ROIC Compounder ¥2.04 ¥2.25 ¥2.42 72
Growth Earnings
Growth-Adj P/E ¥1.23 ¥1.76 ¥2.29 68

Widest divergence: DCF Models (¥3.65) versus Earnings-Based (¥0.8400). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 981M CNY
Revenue growth (YoY) -8.9%
Net margin 5.6%
Return on equity 4.3%
Free cash flow 102M CNY FY2025
P/E ratio 45.8
More key figures
Operating margin 12.1%
EPS (TTM) ¥0.1600
EPS growth (YoY) +94.4%
Net debt 69.6M CNY FY2024

Figures from reported company fundamentals · as of Aug 8, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 69/100

Of which business quality 66 · Market factors (momentum, volatility) 33

Profitability 24
Margins and returns on capital today
Quality Growth 98
Are margins and returns improving?
Cashflow 71
Earnings quality: real cash, not paper profit
Fin. Strength 53
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 61
Calm price path (market factor)
Momentum 20
Price trend over the last 3–12 months (market factor)
52W Momentum 23
Distance to the 52-week high (market factor)
Net Issuance 80
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

Lanpec Technologies Limited operates in the petrochemical equipment manufacturing industry in China and internationally.

Full company description

Lanpec Technologies Limited operates in the petrochemical equipment manufacturing industry in China and internationally. The company offers plate-and-shell heat exchanger, welded plate heat exchanger, high-efficiency tubular heat exchanger, air cooler, waste heat recovery, evaporative crystallizer, tower, natural gas dehydration unit, slug catcher system, gas filtration and separation, crude oil stabilizer, produced water treatment system, fuel gas treatment system, chemical injection system, and coupling power tongs; LNG receiving terminal technology and equipment; marine exhaust gas scrubbing system for SOx/CO2 removal; FPSO upper module light hydrocarbon treatment and storage equipment; utility systems, such as diesel tanks, potable water tanks, and open and closed drain tanks; pig launch and receiver device; wellhead gathering and allocation system; and three phase oil, gas, and water separation system. It also provides storage and transportation engineering, spherical tank engineering, drilling and production tools laboratory, and casing and tubing production line; and molten salt storage tank EPC project. In addition, the company offers engineering design, testing, and on-site repair services. Further, it provides various solutions comprising heat transfer and energy conservation, mass transfer and separation, storage/transportation and new energy, petroleum drilling and laboratory systems, and special equipment testing and inspection services. The company serves oil refining and chemical equipment, marine oil equipment, light industrial and food machinery, oil and gas drilling and production equipment, downhole tools and testing systems, metallurgical intelligent equipment, and renewable energy fields. Lanpec Technologies Limited was founded in 1958 and is based in Shanghai, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Lanpec Technologies Limited reported revenue of ¥992M in FY2025 versus ¥832M in FY2021, a compound +4.5%/yr. Reported net income was ¥48.6M in FY2025.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
992M CNY
Latest YoY
+46.9%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+4.5%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−3.4%
Avg. growth/yr (17Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+3.5%
Revenue +4.5%/yr
FY21 ¥832M
FY22 ¥870M
FY23 ¥1.1B
FY24 ¥675M
FY25 ¥992M
Net income
FY21 −¥174M
FY22 −¥184M
FY23 −¥140M
FY24 −¥88.4M
FY25 ¥48.6M

601798 screens 75% overvalued. Compare with SLB N.V →

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Cite: Fair Value Calculator (2026). "Lanpec Technologies Limited Fair Value". https://www.fairvalue-calculator.com/stock/601798

Peer Group

Oil & Gas Equipment & Services · 191 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 69 · Top 25%
Fair Value upside −75% · Bottom 25%
Return on equity (TTM) 4% · Below median
Return on assets 1% · Below median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 12% · Above median
Revenue growth -9% · Below median
Debt / equity 0.02× · Lower than 75% of peers

Valuation Multiples vs Oil & Gas Equipment & Services median · lower = cheaper

P/E (TTM) 47.3× · Pricier than 75% of peers
P/B 2.09× · Pricier than median
P/S (TTM) 2.74× · Pricier than 75% of peers
P/FCF 3.9× · Cheaper than median
EV/EBITDA 33.0× · Pricier than 75% of peers
PEG 1.04× · 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 0 · sector 0
FUTURE 0 · sector 0
PAST 17 · sector 28
HEALTH 99 · sector 92
DIVIDEND 0 · sector 31

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.

Oil & gas

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Oil & Gas Equipment & Services stocks, each showing price versus our Fair Value estimate (as of Aug 8, 2026).

Stock Price Fair Value vs Fair Value
SLB N.V SLBN 836.00 MXN 533.97 MXN -36%
Baker Hughes Company BKR $55.95 $33.55 -40%
TechnipFMC plc FTI $74.57 $27.57 -63%
Halliburton Company HAL $35.22 $21.50 -39%
Tenaris S.A TS $57.16 $45.68 -20%
Yantai Jereh Oilfield Services Group 002353 ¥138.79 ¥34.17 -75%
Saipem SpA SPM €4.20 €2.72 -35%
Subsea 7 S.A SUBC kr 319.00 kr 227.98 -29%
China Oilfield Services Limited 601808 ¥12.08 ¥12.64 +5%
Gaztransport & Technigaz SA GTT €188.10 €95.01 -49%

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Frequently asked questions

Is Lanpec Technologies Limited (601798) overvalued or undervalued?
As of Aug 8, 2026, our model estimates a fair value of ¥1.92 versus a price of ¥7.66, about −75% (overvalued).
What is the fair value of 601798?
Our model-based fair value for Lanpec Technologies Limited is ¥1.92 (as of Aug 8, 2026), built from audited fundamentals. The current price is ¥7.66.
What is the quality score of 601798?
Lanpec Technologies Limited has a Quality Score of 69/100. 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 Lanpec Technologies Limited (601798)?
Lanpec Technologies Limited reported trailing-twelve-month revenue of about 981M CNY (latest available figure, as of Aug 8, 2026).
What is the net profit margin of 601798?
The net profit margin of Lanpec Technologies Limited is about 5.6%, meaning it keeps roughly 5.6% 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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