Anhui Province Natural Gas DevelopmentCo.,Ltd. (603689) Fair Value & Analysis
Energy · CN · Market cap 4.1B CNY
Fair value as of: Jul 12, 2026
From 16 valuation models · updated 29 days ago
Share price +2.9% over the past month.
A solid business, screening 17% undervalued on our models.
What matters now
- Our model range runs from ¥6.18 (bear) to ¥10.80 (bull), base ¥8.64. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 50/100 (solid 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 ¥6.06 – ¥9.68 · fair‑value band ¥6.18 – ¥10.80 · the ¥7.41 price screens below the ¥8.64 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
Anhui Province Natural Gas DevelopmentCo.,Ltd. (603689) currently trades at ¥7.41, while our model-based Fair Value estimate is ¥8.64, implying the stock looks roughly 16.6% undervalued today. The Quality Score stands at 50/100 (solid quality), in the Energy 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: medium), always confirm before acting.
Over the trailing twelve months, Anhui Province Natural Gas DevelopmentCo.,Ltd. generated revenue of 5.0B CNY at a net margin of 6.8%. Revenue declined 8.2% year over year. It earns a return on equity of 8.2%. Net debt stands at 1.1B CNY. Fundamentals as of Jul 12, 2026
Our scenario range runs from ¥6.18 (bear case) to ¥10.80 (bull case); at ¥7.41, 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 23% below its 52-week high, currently below its 200-day average. For context, the median of 10 Energy peers we cover trades at -35% fair-value upside, at 17%, 603689 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 16 models by family
Widest divergence: Multiples (¥8.64) versus Earnings-Based (¥3.96). 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 48 · Market factors (momentum, volatility) 42
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
Anhui Province Natural Gas DevelopmentCo.,Ltd. engages in the investment, construction, and operation of long-distance natural gas pipelines in China.
Full company description
Anhui Province Natural Gas DevelopmentCo.,Ltd. engages in the investment, construction, and operation of long-distance natural gas pipelines in China. The company sells natural gas to downstream customers, such as urban gas companies and direct industrial users through self-built long-distance pipelines; natural gas, LNG, and CNG to large industrial customers, urban gas operators, transportation operators, gas-fired power plants, industrial and commercial, residential customers on demand, and gas terminal customers. It also engages in the investment and construction of natural gas distributed energy, central heating, contract energy management, and other projects; and energy vehicle charging and replacement, as well as provides comprehensive integrated energy services for users. The company was formerly known as Anhui Natural Gas Development Co., Ltd. Anhui Province Natural Gas DevelopmentCo.,Ltd. was founded in 2002 and is based in Hefei, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Anhui Province Natural Gas DevelopmentCo.,Ltd. reported revenue of ¥5.1B in FY2025 versus ¥4.9B in FY2021, a compound +0.9%/yr. Reported net income was ¥324M in FY2025, compounding +12.0%/yr from FY2021.
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Peer Group
Oil & Gas Midstream · 87 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 Oil & Gas Midstream 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 Oil & Gas Midstream stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Enbridge Inc ENB | $56.46 | $47.20 | -16% |
| The Williams Companies, Inc WMB | $73.38 | $12.03 | -84% |
| Enterprise Products Partners L.P. EPD | $38.31 | $24.74 | -35% |
| TC Energy Corporation TRP | C$97.79 | C$42.00 | -57% |
| Kinder Morgan, Inc KMI | $32.54 | $11.12 | -66% |
| Energy Transfer LP, ET | $19.91 | $17.69 | -11% |
| ONEOK, Inc OKE | $93.52 | $64.05 | -32% |
| Targa Resources Corp TRGP | $273.35 | $79.61 | -71% |
| MPLX LP owns and MPLX | $57.17 | $37.05 | -35% |
| Cheniere Energy, Inc LNG | $255.83 | $211.18 | -17% |
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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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