China National Nuclear Power Co (601985) Fair Value & Analysis
Utilities · CN · Market cap 183B CNY
Fair value as of: Jul 12, 2026
From 13 valuation models · updated 26 days ago
Share price +0.3% over the past month.
Below-average quality, and screening another 13% overvalued on our models.
What matters now
- Our model range runs from ¥5.41 (bear) to ¥9.61 (bull), base ¥7.69. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 37/100 (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 Jul 12, 2026.
How to read this chart
60‑month range ¥4.43 – ¥12.22 · fair‑value band ¥5.41 – ¥9.61 · the ¥8.83 price screens above the ¥7.69 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.
Analysis
China National Nuclear Power Co (601985) currently trades at ¥8.83, while our model-based Fair Value estimate is ¥7.69, implying the stock looks roughly 12.9% overvalued today. We read business quality at 37/100 (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, China National Nuclear Power Co generated revenue of 80.7B CNY at a net margin of 10.2%. Revenue declined 6.6% year over year. It earns a return on equity of 7.0%. Net debt stands at 385B CNY. Fundamentals as of Jul 12, 2026
Our scenario range runs from ¥5.41 (bear case) to ¥9.61 (bull case); at ¥8.83, 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 10% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -31% fair-value upside, at -13%, 601985 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 13 models by family
Widest divergence: Dividend Discount (¥10.67) versus Asset-Based (¥3.87). Highest evidence: Residual Income (76).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 28 · Market factors (momentum, volatility) 53
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
China National Nuclear Power Co., Ltd. engages in the investment, construction, operation, and management of nuclear power projects in the People's Republic of China. It is involved in the heat production and supply; nuclear, new energy, and other power generation; Nuclear energy utilization and development; and provision of technical services.
Full company description
China National Nuclear Power Co., Ltd. engages in the investment, construction, operation, and management of nuclear power projects in the People's Republic of China. It is involved in the heat production and supply; nuclear, new energy, and other power generation; Nuclear energy utilization and development; and provision of technical services. As of December 31, 2025, it operated 26 nuclear power units with an installed capacity of 25,000,000 kilowatts; controls 19 nuclear power units with an installed capacity of 21,859,000 kilowatts; and 10,626,800 kilowatts of wind power and 23,014,200 kilowatts of photovoltaic power, as well as holds controlling stakes in independent energy storage power stations of 1,651,000 kilowatts. The company was founded in 2008 and is headquartered in Beijing, the People's Republic of China. China National Nuclear Power Co., Ltd. operates as a subsidiary of China National Nuclear Corporation.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
China National Nuclear Power Co reported revenue of ¥82.1B in FY2025 versus ¥62.7B in FY2021, a compound +7.0%/yr. Reported net income was ¥9.3B in FY2025, compounding +3.2%/yr from FY2021.
601985 screens 13% overvalued. Compare with NextEra Energy, Inc →
Peer Group
Utilities - Regulated Electric · 155 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.
Insider activity: 40/100
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 Jul 12, 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% |
| CK Infrastructure Holdings 1038 | HK$62.60 | HK$42.74 | -32% |
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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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