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Jiangsu Hengshang Energy Conservation Technology Co (603137) Fair Value & Analysis

Industrials · CN · Market cap 5.0B CNY

JH Jiangsu Hengshang Energy Conservation Technology Co 603137 · SHG
Price¥31.20
Fair Value¥3.62
Upside-88.4%
Quality37/100
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Weak Growth
Loss-making · -3.6% net margin
Low debt · negative free cash flow
Trails peers (4/11)
Narrow moat 16/100
Evidence: Medium Range ¥2.08 – ¥5.16 Share as image

Fair value as of: Aug 10, 2026

From 8 valuation models · updated 3 days ago

Share price +6.0% over the past month.

Below-average quality, and screening another 88% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥5.16). The favourable scenario is already priced in.
  • Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (¥2.08 to ¥5.16) leaves room in how you read the outcome.
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Price vs Fair Value (3 years)

¥975,926 ¥9.19 Fair Value ¥3.62 Apr 2023 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

40‑month range ¥9.19 – ¥975,926 · fair‑value band ¥2.08 – ¥5.16 · the ¥31.20 price screens above the ¥3.62 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 10, 2026.

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Analysis

Jiangsu Hengshang Energy Conservation Technology Co (603137) currently trades at ¥31.20, while our model-based Fair Value estimate is ¥3.62, implying the stock looks roughly 88.4% overvalued today. The Quality Score stands at 37/100 (below-average quality), in the Industrials 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, Jiangsu Hengshang Energy Conservation Technology Co generated revenue of 1.3B CNY at a net margin of -3.6%. Revenue declined 42.6% year over year. It earns a return on equity of -3.8%. Net debt stands at 463M CNY. Fundamentals as of Aug 10, 2026

Our scenario range runs from ¥2.08 (bear case) to ¥5.16 (bull case); at ¥31.20, 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. For context, the median of 10 Industrials peers we cover trades at -33% fair-value upside, at -88%, 603137 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
ROIC Compounder ¥3.17 ¥3.60 ¥3.97 72
Gordon GGM ¥1.53 ¥1.67 ¥1.88 70
DDM Multi-Stage ¥1.53 ¥1.89 ¥2.38 61
All 8 models by family
Earnings-Based
EPV ¥3.17 ¥3.60 ¥3.97 59
Dividend Discount
Gordon GGM ¥1.53 ¥1.67 ¥1.88 70
DDM Multi-Stage ¥1.53 ¥1.89 ¥2.38 61
Multiples
EV/EBIT ¥5.28 ¥6.88 ¥8.49 53
EV/EBITDA ¥5.07 ¥6.61 ¥8.15 54
EV/Revenue ¥3.90 ¥5.37 ¥6.85 43
Asset-Based
NCAV (Graham) ¥3.17 ¥4.25 ¥6.34 50
Economic Profit
ROIC Compounder ¥3.17 ¥3.60 ¥3.97 72

Widest divergence: Multiples (¥6.61) versus Dividend Discount (¥1.67). Highest evidence: ROIC Compounder (72).

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Key figures & financial health

Revenue (TTM) 1.3B CNY
Revenue growth (YoY) -42.6%
Net margin -3.6%
Return on equity -3.8%
Free cash flow −308M CNY FY2025
Operating margin 7.3%
More key figures
EPS (TTM) ¥-0.2500
EPS growth (YoY) -23.1%
Net debt 463M CNY FY2025

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

Quality Score breakdown

Overall quality 37/100

Of which business quality 39 · Market factors (momentum, volatility) 86

Profitability 13
Margins and returns on capital today
Quality Growth 14
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 48
Balance sheet, leverage, solvency risk
Investment 59
Disciplined investing over empire-building
Low Volatility 62
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 91
Distance to the 52-week high (market factor)
Net Issuance 82
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

Jiangsu Hengshang Energy Conservation Technology Co., Ltd. engages in the design, manufacture, and construction of building curtain walls, and doors and windows in China and internationally. The company also offers skylight, steel structures, and awning.

Full company description

Jiangsu Hengshang Energy Conservation Technology Co., Ltd. engages in the design, manufacture, and construction of building curtain walls, and doors and windows in China and internationally. The company also offers skylight, steel structures, and awning. In addition, it undertakes high-end office buildings, commercial complexes, and residential buildings projects. Jiangsu Hengshang Energy Conservation Technology Co., Ltd. was founded in 2012 and is headquartered in Wuxi, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jiangsu Hengshang Energy Conservation Technology Co reported revenue of ¥1.5B in FY2025 versus ¥2.1B in FY2021, a compound −7.9%/yr. Reported net income was −¥35.0M in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.5B CNY
Latest YoY
−31.3%
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.
−8.6%
Revenue −7.9%/yr
FY21 ¥2.1B
FY22 ¥1.9B
FY23 ¥2.2B
FY24 ¥2.2B
FY25 ¥1.5B
Net income
FY21 ¥89.0M
FY22 ¥118M
FY23 ¥127M
FY24 ¥93.4M
FY25 −¥35.0M

603137 screens 88% overvalued. Compare with Trane Technologies plc →

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Cite: Fair Value Calculator (2026). "Jiangsu Hengshang Energy Conservation Technology Co Fair Value". https://www.fairvalue-calculator.com/stock/603137

Peer Group

Building Products & Equipment · 251 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 37 · Bottom 25%
Fair Value upside −88% · Bottom 25%
Return on assets -1% · Bottom 25%
Net margin (TTM) -4% · Bottom 25%
Operating margin (TTM) 7% · Above median
Revenue growth -43% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Building Products & Equipment median · lower = cheaper

P/B 0.64× · Cheaper than median
P/S (TTM) 0.58× · 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 3
FUTURE 0 · sector 8
PAST 0 · sector 22
HEALTH 98 · sector 94
DIVIDEND 0 · sector 30

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 Building Products & Equipment stocks, each showing price versus our Fair Value estimate (as of Aug 10, 2026).

Stock Price Fair Value vs Fair Value
Trane Technologies plc TT $469.98 $212.34 -55%
Johnson Controls International plc JCI $142.81 $45.65 -68%
Carrier Global Corporation CARR $68.61 $17.35 -75%
Compagnie de Saint-Gobain S.A SGO €76.62 €101.60 +33%
Geberit AG GEBN CHF 523.20 CHF 307.66 -41%
Lennox International Inc LII $543.93 $363.09 -33%
Kingspan Group KRX €87.30 €70.76 -19%
Masco Corporation MAS $78.04 $54.36 -30%
PT Impack Pratama Industri Tbk, IMPC 1,420 IDR 179.76 IDR -87%
NIBE Industrier AB NIBEB kr 36.03 kr 25.37 -30%

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Frequently asked questions

Is Jiangsu Hengshang Energy Conservation Technology Co (603137) overvalued or undervalued?
As of Aug 10, 2026, our model estimates a fair value of ¥3.62 versus a price of ¥31.20, about −88% (overvalued).
What is the fair value of 603137?
Our model-based fair value for Jiangsu Hengshang Energy Conservation Technology Co is ¥3.62 (as of Aug 10, 2026), built from audited fundamentals. The current price is ¥31.20.
What is the quality score of 603137?
Jiangsu Hengshang Energy Conservation Technology Co has a Quality Score of 37/100. 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 Jiangsu Hengshang Energy Conservation Technology Co (603137)?
Jiangsu Hengshang Energy Conservation Technology Co reported trailing-twelve-month revenue of about 1.3B CNY (latest available figure, as of Aug 10, 2026).
What is the net profit margin of 603137?
The net profit margin of Jiangsu Hengshang Energy Conservation Technology Co is about -3.6%, meaning it is currently running at a net loss. 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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