Hengli Petrochemical Co Ltd (600346) Fair Value & Analysis
Basic Materials · CN · Market cap 106B CNY (≈ $15.8B) · ISIN CNE0000018V0
What is Hengli Petrochemical Co Ltd really worth?
A solid business, but trading 11% above our fair value of ¥17.09.
Strengths
Risks
For context
Fair value as of: Aug 23, 2026
From 26 valuation models · updated 13 days ago
Share price +10.5% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- 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 Aug 23, 2026.
How to read this chart
60‑month range ¥11.45 – ¥31.20 · fair‑value band ¥12.81 – ¥21.36 · the ¥19.02 price screens above the ¥17.09 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 23, 2026.
Analysis
Hengli Petrochemical Co Ltd (600346) currently trades at ¥19.02, while our model-based Fair Value estimate is ¥17.09, implying the stock looks roughly 11.3% overvalued today. The Quality Score stands at 54/100 (solid quality), in the Basic Materials sector. Bull case: the DCF Models group reads highest at a median of ¥57.79 per share, and 20 of the 26 models we run sit above the ¥19.02 price. Bear case: the Asset-Based group reads lowest at ¥6.36, and 6 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Hengli Petrochemical Co Ltd generated revenue of 193B CNY at a net margin of 4.6%. Revenue declined 13.7% year over year. It earns a return on equity of 13.1%. Net debt stands at 103B CNY. Fundamentals as of Aug 23, 2026
Our scenario range runs from ¥12.81 (bear case) to ¥21.36 (bull case); at ¥19.02, 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 30% below its 52-week high and 38% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −48% fair-value upside, at −10%, 600346 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 ¥0.6158 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.
All 26 models by family
Widest divergence: DCF Models (¥57.79) versus Asset-Based (¥6.36). Highest evidence: EPV (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 51 · Market factors (momentum, volatility) 48
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
Hengli Petrochemical Co.,Ltd. engages in petrochemical industry in China and internationally. The company operates through Petrochemical Business and Polyester Fiber Business segments.
Full company description
Hengli Petrochemical Co.,Ltd. engages in petrochemical industry in China and internationally. The company operates through Petrochemical Business and Polyester Fiber Business segments. It offers oil refining products, chemical products, purified terephthalic acid, polyester chips, and polyester fibers; and engineering plastics, functional films, and biodegradable materials. The company also provides civilian and industrial polyester filament; and polyester filament. In addition, it engages in wholesale and retail activities; transportation industry; and industrial investment activities, as well as other financial services. Further, the company is involved in sale of petroleum, synthetic materials, rubber products, metal chains, metal materials, metal mines, textiles and raw materials, coal, and non-metallic minerals; wholesale of hardware; business management consulting; non-residential real estate leasing; domestic trade agency; and offshore trade operations. The company was formerly known as Dalian Rubber and Plastic Machinery Co., Ltd and changed its name to Hengli Petrochemical Co.,Ltd. in May 2016. The company was founded in 1999 and is based in Dalian, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Hengli Petrochemical Co Ltd reported revenue of 201B CNY in FY2025 versus 198B CNY in FY2021, a compound +0.4%/yr. Reported net income was 7.1B CNY in FY2025, compounding −17.8%/yr from FY2021.
600346 screens 11% overvalued. Compare with Saudi Basic Industries Corporation →
Peer Group
Chemicals · 339 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 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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Chemicals stocks, each showing price versus our Fair Value estimate (as of Aug 23, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Saudi Basic Industries Corporation 2010 | 49.50 SAR | 18.13 SAR | −63% |
| A. Schulman, Inc SLMNP | $849.00 | $203.64 | −76% |
| Ningxia Baofeng Energy Group 600989 | ¥24.49 | ¥20.17 | −18% |
| Dow Inc DOW | $30.51 | $21.03 | −31% |
| Zhejiang Juhua Co 600160 | ¥41.32 | ¥21.62 | −48% |
| Rongsheng Petrochemical Co 002493 | ¥13.76 | ¥2.39 | −83% |
| Zangge Mining Company 000408 | ¥78.04 | ¥20.99 | −73% |
| Ganfeng Lithium Group 002460 | ¥52.53 | ¥16.17 | −69% |
| PT Barito Pacific Tbk, BRPT | 1,855 IDR | 1,584 IDR | −15% |
| LG Chem, Ltd 051910 | 263,000 KRW | 587,755 KRW | +123% |
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