Shan Dong Sun Paper Industry Joint Stock Co Ltd (002078) Fair Value & Analysis
Basic Materials · CN · Market cap 37.3B CNY (≈ $5.6B) · ISIN CNE000001P52
What is Shan Dong Sun Paper Industry Joint Stock Co Ltd really worth?
Below-average quality, trading 15% below our fair value of ¥17.29.
Risks
For context
Fair value as of: Aug 13, 2026
From 16 valuation models · updated 22 days ago
Share price +4.2% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- A fairly wide model range (¥12.10 to ¥22.47) leaves room in how you read the outcome.
- The price sits in the lower half of our model range, the side with the larger margin of safety.
- The data supports the verdict: every model runs on fully documented inputs.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range ¥9.50 – ¥17.42 · fair‑value band ¥12.10 – ¥22.47 · the ¥14.78 price screens below the ¥17.29 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Shan Dong Sun Paper Industry Joint Stock Co Ltd (002078) currently trades at ¥14.78, while our model-based Fair Value estimate is ¥17.29, implying the stock looks roughly 14.5% undervalued today. The Quality Score stands at 41/100 (below-average quality), in the Basic Materials sector. Bull case: the Multiples group reads highest at a median of ¥19.82 per share, and 8 of the 16 models we run sit above the ¥14.78 price. Bear case: the Asset-Based group reads lowest at ¥7.31, and 8 of the 16 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Shan Dong Sun Paper Industry Joint Stock Co Ltd generated revenue of 39.4B CNY at a net margin of 8.3%. Revenue grew 1.9% year over year. It earns a return on equity of 10.7%. Net debt stands at 14.7B CNY. Fundamentals as of Aug 13, 2026
Our scenario range runs from ¥12.10 (bear case) to ¥22.47 (bull case); at ¥14.78, 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 16% below its 52-week high and 16% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at 10% fair-value upside, at 17%, 002078 screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly ¥0.5887 per share, which is 3.4 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.
All 16 models by family
Widest divergence: Multiples (¥19.82) versus Asset-Based (¥7.31). Highest evidence: EPV (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 42 · Market factors (momentum, volatility) 51
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Shandong Sunpaper Co., Ltd., together with its subsidiaries, produces and sells paper products in China and internationally. The company operates through six segments: Thermal Power; Pulping; Paper Manufacturing; Chemicals; Building Materials; and Trade.
Full company description
Shandong Sunpaper Co., Ltd., together with its subsidiaries, produces and sells paper products in China and internationally. The company operates through six segments: Thermal Power; Pulping; Paper Manufacturing; Chemicals; Building Materials; and Trade. It offers cultural paper, including coated art and uncoated offset paper; industrial kraft paper; packaging paper, such as white and coated cardstock, food cardboard, and cigarette paper; household paper comprising pull-out facial tissues, cored/coreless toilet paper, wet wipes, cotton wipes, paper handkerchiefs, kitchen paper towels, and business paper towels; office paper; specialty paper; and coated base paper, as well as new materials under the Golden Sun, Huaxia Sun, Brilliant Sun, Shenzhou Sun, Jiuzhou Sun, Weier, and other brand names. The company also engages in the production and sale of electricity and steam; production and sale of pulps; production and sale of chemical products for papermaking; production and sale of building materials; trade services; investment management; and seedling cultivation. It exports its products. The company was formerly known as Shan Dong Sun Paper Industry Joint Stock Co., Ltd. and changed its name to Shandong Sunpaper Co., Ltd. in December 2018. Shandong Sunpaper Co., Ltd. was founded in 1982 and is headquartered in Jining, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Shan Dong Sun Paper Industry Joint Stock Co Ltd reported revenue of 39.2B CNY in FY2025 versus 32.2B CNY in FY2021, a compound +5.1%/yr. Reported net income was 3.3B CNY in FY2025, compounding +2.7%/yr from FY2021.
of which total revenue +14.3 % · buybacks/dilution −1.3 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
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Peer Group
Paper & Paper Products · 117 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 Paper & Paper Products median · lower = cheaper
Strength profile in five axes (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.
Similar stocks
10 more Paper & Paper Products stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| UPM-Kymmene Oyj UPM | €24.31 | €14.21 | −42% |
| Suzano S.A SUZ | $9.15 | $24.16 | +164% |
| Svenska Cellulosa Aktiebolaget SCA (publ) SCAA | kr 112.50 | kr 45.12 | −60% |
| Holmen AB HOLMB | kr 323.00 | kr 217.72 | −33% |
| Nine Dragons Paper (Holdings) Limited 2689 | HK$7.92 | HK$8.74 | +10% |
| PT Indah Kiat Pulp & Paper Tbk INKP | 8,800 IDR | 17,945 IDR | +104% |
| Empresas CMPC S.A CMPC | 1,049 CLP | 1,281 CLP | +22% |
| The Navigator Company NVG | €3.24 | €2.65 | −18% |
| Xianhe Co 603733 | ¥21.11 | ¥21.06 | +0% |
| Semapa - Sociedade de Investimento e Gestão, SGPS, S.A SEM | €20.70 | €24.73 | +19% |
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