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Shandong Hongchuang Aluminum Industry Holding Co Ltd (002379) Fair Value & Analysis

Basic Materials · CN · Market cap 243B CNY (≈ $36.3B) · ISIN CNE100000MW4

What is Shandong Hongchuang Aluminum Industry Holding Co Ltd really worth?

SH Shandong Hongchuang Aluminum Industry Holding Co Ltd 002379 · SHE
Price¥18.94
Fair Value¥23.44
Upside+23.8%
Quality66/100

A solid business, trading 19% below our fair value of ¥23.44.

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Strengths

Healthy Growth (revenue 5y +131.2 %/yr)
Solidly profitable · 12.5% net margin
Low debt · generates free cash flow
Wide moat 76/100

Risks

!Mixed vs. peers (8/14)
!The models disagree: range ¥17.24 to ¥76.74
!Weak on future: 16 out of 100
!Weak on dividend: 26 out of 100

For context

·1.32% dividend yield
Evidence: High Range ¥17.24 – ¥76.74

Fair value as of: Sep 3, 2026

From 26 valuation models · updated yesterday

Share price −1.6% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The model range is unusually wide (¥17.24 to ¥76.74). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality.

Price vs Fair Value (5 years)

¥32.23 ¥2.88 Fair Value ¥23.44 Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 3, 2026.

How to read this chart

60‑month range ¥2.88 – ¥32.23 · fair‑value band ¥17.24 – ¥76.74 · the ¥18.94 price screens below the ¥23.44 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 3, 2026.

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Analysis

Shandong Hongchuang Aluminum Industry Holding Co Ltd (002379) currently trades at ¥18.94, while our model-based Fair Value estimate is ¥23.44, implying the stock looks roughly 19.2% undervalued today. The Quality Score stands at 66/100 (solid quality), in the Basic Materials sector. Bull case: the Growth Earnings group reads highest at a median of ¥59.03 per share, and 20 of the 26 models we run sit above the ¥18.94 price. Bear case: the Multiples group reads lowest at ¥18.29, and 6 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Shandong Hongchuang Aluminum Industry Holding Co Ltd generated revenue of 158B CNY at a net margin of 12.5%. Revenue grew 3.2% year over year. It earns a return on equity of 75.1%. Net debt stands at 8.7B CNY. Fundamentals as of Sep 3, 2026

Our scenario range runs from ¥17.24 (bear case) to ¥76.74 (bull case); at ¥18.94, 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 43% below its 52-week high and 75% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at 15% fair-value upside, at 24%, 002379 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 ¥0.8527 per share, which is 3.6 % 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.

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
EPV best evidence ¥16.21 ¥19.01 ¥21.51 74
FCF DCF ¥25.87 ¥41.53 ¥92.74 72
Growth DCF ¥24.40 ¥50.53 ¥94.42 72
All 26 models by family
DCF Models
FCF DCF ¥25.87 ¥41.53 ¥92.74 72
Owner Earnings ¥21.76 ¥50.57 ¥113.77 67
5Y Revenue Exit ¥17.41 ¥29.26 ¥54.02 67
5Y EBITDA Exit ¥20.82 ¥36.17 ¥66.24 70
5Y P/E Exit ¥20.49 ¥44.16 ¥76.22 65
10Y Revenue Exit ¥19.54 ¥41.14 ¥54.42 64
10Y EBITDA Exit ¥22.69 ¥48.66 ¥93.45 62
10Y P/E Exit ¥22.44 ¥47.93 ¥89.37 58
Earnings-Based
Graham-Dodd ¥9.32 ¥65.01 ¥91.23 61
Lynch FV ¥33.59 ¥47.98 ¥62.37 59
PEG = 1.0 ¥33.59 ¥47.98 ¥62.37 55
EPV best evidence ¥16.21 ¥19.01 ¥21.51 74
Dividend Discount
Gordon GGM ¥1.20 ¥2.62 ¥4.41 63
DDM Multi-Stage ¥1.20 ¥2.15 ¥2.73 64
Multiples
P/E Multiple ¥17.48 ¥23.30 ¥29.13 63
P/S Multiple ¥13.49 ¥17.99 ¥22.48 58
P/B Multiple ¥7.87 ¥10.49 ¥13.11 55
EV/EBIT ¥21.92 ¥29.12 ¥36.33 66
EV/EBITDA ¥18.21 ¥24.18 ¥30.14 67
EV/Revenue ¥12.89 ¥18.29 ¥23.68 54
Asset-Based
NCAV (Graham) ¥1.75 ¥2.34 ¥3.50 54
Growth DCF
Growth DCF ¥24.40 ¥50.53 ¥94.42 72
Rev-Margin DCF ¥19.15 ¥33.45 ¥63.42 67
Economic Profit
Residual Income ¥13.31 ¥22.53 ¥453.08 61
ROIC Compounder ¥20.46 ¥30.79 ¥44.76 68
Growth Earnings
Growth-Adj P/E ¥41.32 ¥59.03 ¥76.74 65

Widest divergence: Growth Earnings (¥59.03) versus Dividend Discount (¥2.15). Highest evidence: EPV (74).

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Key figures & financial health

P/E ratio 12.5
P/S ratio 1.43 P/E × margin
EPS (TTM) ¥1.51 price ÷ EPS = P/E 12.5
Dividend yield 1.3% payout 16.6%
Net margin 11.4% FY2025
Return on equity 75.1% TTM
More key figures
Profitability
Return on assets (EBIT) 3.1% avg 5y
Operating margin 22.5% TTM
Growth
Revenue (TTM) 158B CNY TTM
Revenue growth (YoY) +3.2% 3y avg +254%
EPS growth (YoY) +37.6%
Balance sheet & cash flow
Free cash flow 18.7B CNY FY2025
Net debt 8.7B CNY FY2025 · ≈ 0.5 yrs of FCF

Figures from reported company fundamentals · as of Sep 3, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 67 · Market factors (momentum, volatility) 43

Profitability 78
Margins and returns on capital today
Quality Growth 100
Are margins and returns improving?
Cashflow 61
Earnings quality: real cash, not paper profit
Fin. Strength 77
Balance sheet, leverage, solvency risk
Investment 31
Disciplined investing over empire-building
Low Volatility 55
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 41
Distance to the 52-week high (market factor)
Net Issuance 44
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.

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 Hongqiao Aluminum Industry Holding Company Limited, together with its subsidiaries, engages in the research, development, production, and sale of aluminum products in China and internationally.

Full company description

Shandong Hongqiao Aluminum Industry Holding Company Limited, together with its subsidiaries, engages in the research, development, production, and sale of aluminum products in China and internationally. It offers electrolytic, liquid, recycled, and oxidized aluminum, as well as aluminum alloy, aluminum hydroxide, alumina, and deep-processed aluminum products. The company is also involved in trading; investment management; and logistics businesses. It exports its products. The company was formerly known as Shandong Hontron Aluminum Industry Holding Company Limited and changed its name to Shandong Hongqiao Aluminum Industry Holding Company Limited in January 2026. Shandong Hongqiao Aluminum Industry Holding Company Limited was founded in 2000 and is headquartered in Binzhou, China. Shandong Hongqiao Aluminum Industry Holding Company Limited operates as a subsidiary of Shandong Weiqiao Aluminum and Electricity Co., Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shandong Hongchuang Aluminum Industry Holding Co Ltd reported revenue of 156B CNY in FY2025 versus 3.2B CNY in FY2021, a compound +164.5%/yr. Reported net income was 17.9B CNY in FY2025.

Growth Quality 80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
156B CNY
Latest YoY
+4,381.8%
Avg. revenue 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.
+253.8%
Avg. revenue 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.
+131.2%
Avg. revenue growth/yr (19Y) 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.
+35.1%
Value creation/yr We only publish this rate when it is defensible. Reason: rate outside our plausibility band
not computed
Revenue +164.5%/yr
FY21 3.2B CNY
FY22 3.5B CNY
FY23 2.7B CNY
FY24 3.5B CNY
FY25 156B CNY
Net income
FY21 −77.5M CNY
FY22 22.8M CNY
FY23 −145M CNY
FY24 −69.0M CNY
FY25 17.9B CNY

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Cite: Fair Value Calculator (2026). "Shandong Hongchuang Aluminum Industry Holding Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/002379

Peer Group

Aluminum · 83 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 66 · Top 25%
Fair Value upside +24% · Top 25%
Return on equity (TTM) 75% · Top 25%
Return on assets 32% · Top 25%
Net margin (TTM) 12% · Top 25%
Operating margin (TTM) 22% · Top 25%
Revenue growth 3% · Below median
Dividend yield (TTM) 1.3% · Below median
Debt / equity 0.32× · Higher than median

Valuation Multiples vs Aluminum median · lower = cheaper

P/E (TTM) 12.5× · Cheaper than median
P/B 5.34× · Pricier than 75% of peers
P/S (TTM) 1.54× · Pricier than 75% of peers
P/FCF 1.9× · Cheaper than median
EV/EBITDA 7.3× · Pricier than median

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE65 · sector 8
FUTURE16 · sector 28
PAST100 · sector 34
HEALTH84 · sector 91
DIVIDEND26 · sector 38

Insider activity: 30/100

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

Similar stocks

10 more Aluminum stocks, each showing price versus our Fair Value estimate (as of Sep 3, 2026).

Stock Price Fair Value vs Fair Value
China Hongqiao Group 1378 HK$22.64 HK$45.69 +102%
Hindalco Industries Limited HINDALCO ₹1,028 ₹997.35 −3%
Aluminum Corporation 601600 ¥9.45 ¥16.30 +72%
Norsk Hydro ASA NHY kr 92.30 kr 58.10 −37%
Press Metal Aluminium Holdings 8869 7.90 MYR 3.88 MYR −51%
Alcoa Corporation AAI A$73.19 A$49.53 −32%
Yunnan Aluminium Co 000807 ¥25.88 ¥29.68 +15%
Henan Shenhuo Coal Industry and Electricity Power Co 000933 ¥27.36 ¥30.28 +11%
Tianshan Aluminum Group 002532 ¥12.67 ¥21.86 +73%
Shandong Nanshan Aluminium Co 600219 ¥4.73 ¥7.01 +48%

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Frequently asked questions

Is Shandong Hongchuang Aluminum Industry Holding Co Ltd (002379) overvalued or undervalued?
As of Sep 3, 2026, our model estimates a fair value of ¥23.44 versus a price of ¥18.94, about +24% upside (undervalued).
What is the fair value of 002379?
Our model-based fair value for Shandong Hongchuang Aluminum Industry Holding Co Ltd is ¥23.44 (as of Sep 3, 2026), built from audited fundamentals. The current price: ¥18.94.
What is the quality score of 002379?
Shandong Hongchuang Aluminum Industry Holding Co Ltd has a Quality Score of 66/100. 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 Shandong Hongchuang Aluminum Industry Holding Co Ltd (002379)?
Shandong Hongchuang Aluminum Industry Holding Co Ltd reported trailing-twelve-month revenue of about 158B CNY (latest available figure, as of Sep 3, 2026).
What is the net profit margin of 002379?
The net profit margin of Shandong Hongchuang Aluminum Industry Holding Co Ltd is about 12.5%, meaning it keeps roughly 12.5% of revenue as net income. Based on the latest reported figures.
Does Shandong Hongchuang Aluminum Industry Holding Co Ltd pay a dividend?
Shandong Hongchuang Aluminum Industry Holding Co Ltd currently shows a dividend yield of about 1.32% relative to its recent price (as of Sep 3, 2026).
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