Wanhua Chemical Group Co Ltd (600309) Fair Value & Analysis
Basic Materials · CN · Market cap 219B CNY (≈ $32.7B) · ISIN CNE0000016J9
What is Wanhua Chemical Group Co Ltd really worth?
Below-average quality, and trading another 14% above our fair value of ¥68.03.
Strengths
Risks
For context
Fair value as of: Sep 5, 2026
From 16 valuation models · updated today
Share price +4.3% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- Solid but not exceptional quality (46/100) and above fair value, neither a clear bargain nor a standout compounder.
- The price sits in the upper half of our model range, so the margin of safety is thin.
- 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 Sep 5, 2026.
How to read this chart
60‑month range ¥52.53 – ¥123.09 · fair‑value band ¥49.05 – ¥85.04 · the ¥77.66 price screens above the ¥68.03 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 5, 2026.
Analysis
Wanhua Chemical Group Co Ltd (600309) currently trades at ¥77.66, while our model-based Fair Value estimate is ¥68.03, implying the stock looks roughly 14.2% overvalued today. The Quality Score stands at 46/100 (below-average quality), in the Basic Materials sector. Bull case: the Growth Earnings group reads highest at a median of ¥107.78 per share, and 5 of the 16 models we run sit above the ¥77.66 price. Bear case: the Asset-Based group reads lowest at ¥20.25, and 11 of the 16 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Wanhua Chemical Group Co Ltd generated revenue of 214B CNY at a net margin of 6.2%. Revenue grew 25.5% year over year. It earns a return on equity of 13.0%. Net debt stands at 69.1B CNY. Fundamentals as of Sep 5, 2026
Our scenario range runs from ¥49.05 (bear case) to ¥85.04 (bull case); at ¥77.66, 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 20% below its 52-week high and 49% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −60% fair-value upside, at −12%, 600309 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 ¥2.00 per share, which is 2.9 % 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: Growth Earnings (¥107.78) versus Asset-Based (¥20.25). Highest evidence: EPV (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 48 · Market factors (momentum, volatility) 57
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
Wanhua Chemical Group Co., Ltd., together with its subsidiaries, engages in the research, development, production, and sale of chemical products in China and internationally. It operates through three segments: Polyurethane; Petrochemical; and Fine Chemicals and New Materials.
Full company description
Wanhua Chemical Group Co., Ltd., together with its subsidiaries, engages in the research, development, production, and sale of chemical products in China and internationally. It operates through three segments: Polyurethane; Petrochemical; and Fine Chemicals and New Materials. The company offers isocyanates and polyether polyols; olefin derivatives and ethylene; functional chemicals, including specialty isocyanates, specialty amines, and intermediates; and new materials, such as thermoplastic polyurethane elastomers, polyolefin elastomers, polymethyl methacrylate, water treatment membranes, superabsorbent polymers, nylon elastomers, ultra-high voltage cable materials, and methyl methacrylate-styrene copolymers. It also provides surface materials comprising coatings and adhesives raw materials, silicone intermediates, and finished adhesives, as well as synthetic leather, personal and home care, liquid silicone rubber, release agents, and bio-based chemicals; polymers; caustic soda, specialty PVC, and other chlorine products; flavorings, nutritional supplements, and pharmaceutical intermediates; and lithium iron phosphate, graphite anodes, battery-grade sulfates, N-methylpyrrolidone, polyacrylic acid, and other battery materials and related chemicals. The company's products are used in homeware and furniture, sports and leisure, automobiles and transportation, building and construction, electronics and electrical appliances, personal care, and green energy industries. It exports its products. The company was formerly known as Yantai Wanhua Polyurethanes Co., Ltd. and changed its name to Wanhua Chemical Group Co., Ltd. in June 2013. Wanhua Chemical Group Co., Ltd. was founded in 1978 and is headquartered in Yantai, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Wanhua Chemical Group Co Ltd reported revenue of 203B CNY in FY2025 versus 146B CNY in FY2021, a compound +8.7%/yr. Reported net income was 12.5B CNY in FY2025, compounding −15.6%/yr from FY2021.
of which total revenue +26.8 % · buybacks/dilution −2.1 %
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).
600309 screens 14% overvalued. Compare with Linde plc →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Pentaerythritol Triacrylate (PETA) Reactive Diluent Market Global Report 2026 Published, A 250-Page Study Profiling BASF, Wanhua Chemical, E
- Wanhua Chmeical and IBU-tec signed a Joint Development Agreement for the development of a European LFP battery material, creating the basis
- COP29: Wanhua Chemical Reveals Multiple Innovations that Drive Carbon Neutrality in Chemical Industry Supply Chain
- Wanhua Chemical Launches Barcelona R&D Center, Unveiling Signified Focus and Commitment in Europe and Beyond
Peer Group
Specialty Chemicals · 695 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 Specialty Chemicals 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.
Insider activity: 30/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Linde plc LIN | $485.35 | $222.03 | −54% |
| The Sherwin-Williams Company SHW | $344.86 | $143.38 | −58% |
| Ecolab Inc ECL | $286.75 | $96.18 | −66% |
| Air Products and Chemicals, Inc APD | $308.09 | $122.14 | −60% |
| Givaudan SA GIVN | CHF 3,282 | CHF 1,498 | −54% |
| 500820 500820 | ₹2,757 | ₹557.43 | −80% |
| Novozymes A/S NSISB | kr 456.40 | kr 169.99 | −63% |
| Asian Paints Limited ASIANPAINT | ₹2,630 | ₹696.23 | −74% |
| PPG Industries, Inc PPG | $114.22 | $71.31 | −38% |
| DSM-Firmenich AG DSFIR | €90.68 | €33.20 | −63% |
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