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Dongyue Group Ltd (0189) Fair Value & Analysis

Basic Materials · HK · Market cap HK$33.1B (≈ $4.2B) · ISIN KYG2816P1072

What is Dongyue Group Ltd really worth?

DG Dongyue Group Ltd 0189 · HK
PriceHK$13.02
Fair ValueHK$15.06
Upside+15.6%
Quality76/100

A strong business, trading 14% below our fair value of HK$15.06.

As of Aug 22, 2026, the fair value of Dongyue Group Ltd is HK$15.06 per share against a price of HK$13.02, so the fair value sits 16% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

✓Solidly profitable · 11.4% net margin
✓Low debt · generates free cash flow
✓Ranks above peers (10/14)

Risks

!Weak Growth (revenue 5y +7.4 %/yr)
!Moderate moat 51/100
!Evidence only medium, so the estimate is less certain

For context

·2.30% dividend yield
Evidence: Medium Range HK$11.29 – HK$18.82

Fair value as of: Aug 22, 2026

From 26 valuation models · updated 15 days ago

Fair value updated Aug 22, 2026, revised from HK$18.73 to HK$15.06 (−19.6%) since Aug 13, 2026. Share price −1.7% over the past month.

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

What matters now

  • The price sits in the lower half of our model range, the side with the larger margin of safety.
  • Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.

Price vs Fair Value (5 years)

HK$23.22 HK$4.46 Fair Value HK$15.06 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 22, 2026.

How to read this chart

60‑month range HK$4.46 – HK$23.22 · fair‑value band HK$11.29 – HK$18.82 · the HK$13.02 price screens below the HK$15.06 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 22, 2026.

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Analysis

Dongyue Group Ltd (0189) currently trades at HK$13.02, while our model-based Fair Value estimate is HK$15.06, implying the stock looks roughly 13.5% undervalued today. The Quality Score stands at 76/100 (high quality), in the Basic Materials sector. Bull case: the DCF Models group reads highest at a median of HK$20.82 per share, and 19 of the 26 models we run sit above the HK$13.02 price. Bear case: the Asset-Based group reads lowest at HK$5.56, and 7 of the 26 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Dongyue Group Ltd generated revenue of HK$14.4B at a net margin of 11.4%. Revenue declined 0.4% year over year. It earns a return on equity of 11.6%. The balance sheet holds a net cash position of HK$5.0B. Fundamentals as of Aug 22, 2026

Our scenario range runs from HK$11.29 (bear case) to HK$18.82 (bull case); at HK$13.02, 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 45% below its 52-week high and 41% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −48% fair-value upside, at 16%, 0189 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 HK$0.1155 per share, which is 0.8 % 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
FCF DCF best evidence HK$16.21 HK$23.52 HK$34.61 78
Growth DCF HK$16.45 HK$22.94 HK$32.21 76
Owner Earnings HK$11.65 HK$16.45 HK$23.75 74
All 26 models by family
DCF Models
FCF DCF best evidence HK$16.21 HK$23.52 HK$34.61 78
Owner Earnings HK$11.65 HK$16.45 HK$23.75 74
5Y Revenue Exit HK$12.94 HK$18.14 HK$24.66 71
5Y EBITDA Exit HK$16.64 HK$25.03 HK$34.75 73
5Y P/E Exit HK$14.54 HK$21.12 HK$27.94 69
10Y Revenue Exit HK$13.74 HK$18.76 HK$25.29 65
10Y EBITDA Exit HK$16.36 HK$23.53 HK$32.97 66
10Y P/E Exit HK$15.02 HK$20.82 HK$27.79 62
Earnings-Based
Graham-Dodd HK$6.44 HK$19.70 HK$26.15 63
Lynch FV HK$4.23 HK$6.05 HK$7.86 59
PEG = 1.0 HK$4.23 HK$6.05 HK$7.86 55
EPV HK$13.18 HK$14.90 HK$16.40 74
Dividend Discount
Gordon GGM HK$0.8500 HK$1.77 HK$2.80 64
DDM Multi-Stage HK$0.8500 HK$1.39 HK$1.86 64
Multiples
P/E Multiple HK$12.08 HK$16.11 HK$20.14 63
P/S Multiple HK$9.32 HK$12.43 HK$15.53 58
P/B Multiple HK$12.08 HK$16.11 HK$20.14 55
EV/EBIT HK$16.62 HK$21.19 HK$25.77 66
EV/EBITDA HK$18.61 HK$23.85 HK$29.08 67
EV/Revenue HK$11.60 HK$15.32 HK$19.05 54
Asset-Based
NCAV (Graham) HK$4.15 HK$5.56 HK$8.30 54
Growth DCF
Growth DCF HK$16.45 HK$22.94 HK$32.21 76
Rev-Margin DCF HK$12.94 HK$18.24 HK$24.34 71
Economic Profit
Residual Income HK$7.55 HK$8.84 HK$18.33 69
ROIC Compounder HK$13.90 HK$16.79 HK$20.16 70
Growth Earnings
Growth-Adj P/E HK$10.17 HK$14.53 HK$18.89 65

Widest divergence: DCF Models (HK$20.82) versus Dividend Discount (HK$1.39). Highest evidence: FCF DCF (78).

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Key figures & financial health

P/E ratio 16.9 as of Jul 1, 2026
P/S ratio 1.93 P/E × margin
EPS (TTM) HK$0.4700 price ÷ EPS = P/E 16.9
Dividend yield 2.3% payout 63.8%
Net margin 11.4% FY2025
Return on equity 11.6% TTM
More key figures
Profitability
Return on assets (EBIT) 9.4% avg 5y
Operating margin 14.6% TTM
Growth
Revenue (TTM) HK$14.4B TTM
Revenue growth (YoY) −0.4% 3y avg −10.5%
EPS growth (YoY) +69.0%
Balance sheet & cash flow
Free cash flow HK$2.0B FY2025
Net cash HK$5.0B FY2025

Figures from reported company fundamentals · as of Aug 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 76/100

Of which business quality 74 · Market factors (momentum, volatility) 27

Profitability 45
Margins and returns on capital today
Quality Growth 64
Are margins and returns improving?
Cashflow 71
Earnings quality: real cash, not paper profit
Fin. Strength 93
Balance sheet, leverage, solvency risk
Investment 82
Disciplined investing over empire-building
Low Volatility 19
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 29
Distance to the 52-week high (market factor)
Net Issuance 100
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

Dongyue Group Limited, an investment holding company, manufactures, distributes, and sells polymers, organic silicone, refrigerants, dichloromethane, liquid alkali, and other products in the People's Republic of China and internationally.

Full company description

Dongyue Group Limited, an investment holding company, manufactures, distributes, and sells polymers, organic silicone, refrigerants, dichloromethane, liquid alkali, and other products in the People's Republic of China and internationally. It operates through Polymers; Refrigerants; Organic Silicone; Dichloromethane and Liquid Alkali; and Other Operations segments. The company offers polytetrafluoroethylene, methane chloride, anhydrous fluoride, fluorite, silicon rubber, fluoropolymer, ammonium bifluoride, hydrofluoric acid, bromine, and organosilicon materials. It engages in the property development and rental; sale of chemical products; investment and management of fluorosilicone new material industry; research and development of chemical technology; smelting and sale of non-tenuous metal and alloy materials; production and supply of salts, electricity, heat, gas, and water; and provision of sewage disposal and environmental monitoring services, as well as business management consulting services. Dongyue Group Limited was founded in 1987 and is headquartered in Zibo, the People's Republic of China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Dongyue Group Ltd reported revenue of 14.4B CNY in FY2025 versus 15.8B CNY in FY2021, a compound −2.4%/yr. Reported net income was 1.6B CNY in FY2025, compounding −5.7%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$14.4B
Latest YoY
+1.2%
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.
−10.5%
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.
+7.4%
Avg. revenue growth/yr (21Y) ⓘ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.
+12.6%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
≈ +9.5% (approximate, leans on 2025) · in HKD
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+7.2%
Dividend yield2.3%
Trend ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y 7.2% vs 10Y 14.5%, flattening
Operating margin (EBIT) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.9.3% (2020) → 15.8% (2025) · rising
Worst earnings drop243% (2015) (loss year, drop beyond 100%) · in HKD
⚠ Rate leans on 2025: that final year sits 111% above its own trend (e.g. a one-off disposal gain) and could not be adjusted
Revenue −2.4%/yr
FY21 15.8B CNY
FY22 20.0B CNY
FY23 14.5B CNY
FY24 14.2B CNY
FY25 14.4B CNY
Net income −5.7%/yr
FY21 2.1B CNY
FY22 3.9B CNY
FY23 708M CNY
FY24 811M CNY
FY25 1.6B CNY
Character of growth · EPS growth decomposed (2014-2025) +9.3 % p.a.
Revenue per share +8.5 %

of which total revenue +7.0 % · buybacks/dilution +1.4 %

EBIT margin −0.6 %
Tax rate +1.1 %
Residual (interest, one-offs) +0.2 %

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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Cite: Fair Value Calculator (2026). "Dongyue Group Ltd Fair Value". https://www.fairvalue-calculator.com/stock/0189

Peer Group

Chemicals · 340 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 76 · Top 25%
Fair Value upside +16% · Top 25%
Return on equity (TTM) 12% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 11% · Top 25%
Operating margin (TTM) 15% · Top 25%
Revenue growth 0% · Below median
Dividend yield (TTM) 2.3% · Above median

Valuation Multiples vs Chemicals median · lower = cheaper

P/E (TTM) 16.9× · Cheaper than median
P/B 2.30× · Pricier than median
P/S (TTM) 2.30× · Pricier than median
P/FCF 2.1× · Pricier than median
EV/EBITDA 7.8× · Cheaper 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
VALUE54 · sector 0
FUTURE0 · sector 22
PAST46 · sector 20
HEALTH100 · sector 94
DIVIDEND46 · sector 32

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

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Frequently asked questions

Is Dongyue Group Ltd (0189) overvalued or undervalued?
As of Aug 22, 2026, our model estimates a fair value of HK$15.06 versus a price of HK$13.02, about +16% upside (undervalued).
What is the fair value of 0189?
Our model-based fair value for Dongyue Group Ltd is HK$15.06 (as of Aug 22, 2026), built from audited fundamentals. The current price: HK$13.02.
What is the quality score of 0189?
Dongyue Group Ltd has a Quality Score of 76/100. 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 price target for Dongyue Group Ltd (0189)?
Our model-based price target is the fair value of HK$15.06 (as of Aug 22, 2026) from 26 valuation models. Cautious scenario HK$11.29, optimistic scenario HK$18.82. It is a calculation from audited fundamentals, not an analyst target.
What is the Dongyue Group Ltd stock forecast for 2026?
Our models put fair value at HK$15.06, about +16% upside versus a price of HK$13.02 (undervalued). Cautious scenario HK$11.29, optimistic scenario HK$18.82. The calculation is refreshed regularly with new filings.
What is the revenue of Dongyue Group Ltd (0189)?
Dongyue Group Ltd reported trailing-twelve-month revenue of about HK$14.4B (latest available figure, as of Aug 22, 2026).
What is the net profit margin of 0189?
The net profit margin of Dongyue Group Ltd is about 11.4%, meaning it keeps roughly 11.4% of revenue as net income. Based on the latest reported figures.
Does Dongyue Group Ltd pay a dividend?
Dongyue Group Ltd currently shows a dividend yield of about 2.30% relative to its recent price (as of Aug 22, 2026).
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