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Fujian Funeng Co Ltd (600483) Fair Value & Analysis

Utilities · CN · Market cap 29.3B CNY (≈ $4.4B) · ISIN CNE000001HV5

What is Fujian Funeng Co Ltd really worth?

FF Fujian Funeng Co Ltd 600483 · SHG
Price¥11.12
Fair Value¥16.00
Upside+43.9%
Quality47/100

Below-average quality, trading 30% below our fair value of ¥16.00.

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Strengths

Highly profitable · 21.0% net margin
Moderate debt · generates free cash flow
Ranks above peers (11/14)

Risks

!Expensive Growth (revenue 5y +7.5 %/yr)
!Moderate moat 60/100

For context

·3.83% dividend yield
Evidence: High Range ¥8.97 – ¥20.68

Fair value as of: Sep 5, 2026

From 26 valuation models · updated today

Share price +3.4% over the past month.

What runs behind every stock

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

What matters now

  • Solid quality (47/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (¥8.97 to ¥20.68) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

¥13.99 ¥6.60 Fair Value ¥16.00 Mar 2021 Sep 2026

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 ¥6.60 – ¥13.99 · fair‑value band ¥8.97 – ¥20.68 · the ¥11.12 price screens below the ¥16.00 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 5, 2026.

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Analysis

Fujian Funeng Co Ltd (600483) currently trades at ¥11.12, while our model-based Fair Value estimate is ¥16.00, implying the stock looks roughly 30.5% undervalued today. The Quality Score stands at 47/100 (below-average quality), in the Utilities sector. Bull case: the Growth Earnings group reads highest at a median of ¥20.33 per share, and 18 of the 26 models we run sit above the ¥11.12 price. Bear case: the Asset-Based group reads lowest at ¥6.61, and 8 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Fujian Funeng Co Ltd generated revenue of 13.6B CNY at a net margin of 21.0%. Revenue declined 5.2% year over year. It earns a return on equity of 10.3%. Net debt stands at 7.5B CNY. Fundamentals as of Sep 5, 2026

Our scenario range runs from ¥8.97 (bear case) to ¥20.68 (bull case); at ¥11.12, 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 8% below its 52-week high and 23% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at −38% fair-value upside, at 44%, 600483 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 ¥0.3817 per share, which is 2.4 % 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.

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 ¥5.08 ¥12.07 ¥24.81 74
EPV ¥7.26 ¥8.91 ¥10.34 74
Residual Income ¥8.88 ¥10.02 ¥16.51 74
All 26 models by family
DCF Models
FCF DCF ¥5.08 ¥12.07 ¥24.81 74
Owner Earnings ¥3.12 ¥8.34 ¥17.83 70
5Y Revenue Exit ¥5.76 ¥13.03 ¥23.21 69
5Y EBITDA Exit ¥8.83 ¥19.58 ¥33.54 72
5Y P/E Exit ¥9.04 ¥20.02 ¥33.05 68
10Y Revenue Exit ¥5.17 ¥12.11 ¥23.36 62
10Y EBITDA Exit ¥7.54 ¥17.00 ¥32.30 64
10Y P/E Exit ¥7.68 ¥17.33 ¥31.88 60
Earnings-Based
Graham-Dodd ¥7.23 ¥37.52 ¥51.90 64
Lynch FV ¥10.27 ¥14.67 ¥19.07 61
PEG = 1.0 ¥10.27 ¥14.67 ¥19.07 57
EPV ¥7.26 ¥8.91 ¥10.34 74
Dividend Discount
Gordon GGM ¥4.94 ¥10.28 ¥16.30 66
DDM Multi-Stage ¥4.94 ¥8.67 ¥10.79 66
Multiples
P/E Multiple ¥14.36 ¥19.15 ¥23.93 63
P/S Multiple ¥9.27 ¥12.37 ¥15.46 58
P/B Multiple ¥13.31 ¥17.75 ¥22.19 55
EV/EBIT ¥11.37 ¥16.03 ¥20.69 65
EV/EBITDA ¥11.44 ¥16.11 ¥20.79 67
EV/Revenue ¥6.06 ¥9.76 ¥13.47 53
Asset-Based
NCAV (Graham) ¥4.93 ¥6.61 ¥9.86 54
Growth DCF
Growth DCF ¥4.95 ¥11.18 ¥22.08 73
Rev-Margin DCF ¥5.76 ¥12.75 ¥22.12 69
Economic Profit
Residual Income ¥8.88 ¥10.02 ¥16.51 74
ROIC Compounder ¥7.26 ¥8.91 ¥11.04 72
Growth Earnings
Growth-Adj P/E ¥14.23 ¥20.33 ¥26.43 67

Widest divergence: Growth Earnings (¥20.33) versus Asset-Based (¥6.61). Highest evidence: FCF DCF (74).

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Key figures & financial health

P/E ratio 11.2
P/S ratio 2.42 P/E × margin
EPS (TTM) ¥0.9900 price ÷ EPS = P/E 11.2
Dividend yield 3.8% payout 43.0%
Net margin 21.5% FY2025
Return on equity 10.3% TTM
More key figures
Profitability
Return on assets (EBIT) 6.5% avg 5y
Operating margin 26.3% TTM
Growth
Revenue (TTM) 13.6B CNY TTM
Revenue growth (YoY) −5.2% 3y avg −1.3%
EPS growth (YoY) −18.5%
Balance sheet & cash flow
Free cash flow 1.6B CNY FY2025
Net debt 7.5B CNY FY2025 · ≈ 4.8 yrs of FCF

Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 47/100

Of which business quality 47 · Market factors (momentum, volatility) 59

Profitability 39
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 59
Earnings quality: real cash, not paper profit
Fin. Strength 53
Balance sheet, leverage, solvency risk
Investment 37
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 54
Distance to the 52-week high (market factor)
Net Issuance 42
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

Fujian Funeng Co., Ltd., together with its subsidiaries, produces and sells electricity and heat in China. It operates through Power and Textile segments. The company generates electricity through wind, natural gas, cogeneration, coal-fired pure condensing, and photovoltaic power generation. It has a total installed capacity of 3.35 billion kilowatts.

Full company description

Fujian Funeng Co., Ltd., together with its subsidiaries, produces and sells electricity and heat in China. It operates through Power and Textile segments. The company generates electricity through wind, natural gas, cogeneration, coal-fired pure condensing, and photovoltaic power generation. It has a total installed capacity of 3.35 billion kilowatts. The company also produces and sells industrial textiles, such as woven fabrics, and needle-punched and spunlace non-woven fabrics. In addition, the company is involved in the investment, development, construction, operation, maintenance, and management of new energy industry; manufacture of PU leather; utilization of ash; hydropower and thermal power generation; power transmission and distribution; knitwear and clothing products; installation, testing, and repair of power facilities; and development and construction of power projects. The company is based in Fuzhou, China. Fujian Funeng Co., Ltd. is a subsidiary of Fujian Energy Group Co., Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Fujian Funeng Co Ltd reported revenue of 13.8B CNY in FY2025 versus 12.2B CNY in FY2021, a compound +3.1%/yr. Reported net income was 3.0B CNY in FY2025, compounding +21.5%/yr from FY2021.

Growth Quality 59/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
13.8B CNY
Latest YoY
−5.6%
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.
−1.3%
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.
+7.5%
Avg. revenue growth/yr (24Y) 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.
+15.7%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+17.7% (13.9 + 3.8)
Revenue +3.1%/yr
FY21 12.2B CNY
FY22 14.3B CNY
FY23 14.7B CNY
FY24 14.6B CNY
FY25 13.8B CNY
Net income +21.5%/yr
FY21 1.4B CNY
FY22 2.6B CNY
FY23 2.6B CNY
FY24 2.8B CNY
FY25 3.0B CNY
Character of growth · EPS growth decomposed (2013-2024) +6.3 % p.a.
Revenue per share +3.0 %

of which total revenue +9.8 % · buybacks/dilution −6.2 %

EBIT margin +4.1 %
Tax rate +1.1 %
Residual (interest, one-offs) −1.9 %

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). "Fujian Funeng Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/600483

Peer Group

Utilities - Diversified · 52 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 47 · Above median
Fair Value upside +44% · Top 25%
Return on equity (TTM) 10% · Above median
Return on assets 4% · Top 25%
Net margin (TTM) 21% · Top 25%
Operating margin (TTM) 26% · Top 25%
Revenue growth −5% · Below median
Dividend yield (TTM) 3.8% · Below median
Debt / equity 0.67× · Lower than median

Valuation Multiples vs Utilities - Diversified median · lower = cheaper

P/E (TTM) 11.2× · Cheaper than median
P/B 1.07× · Cheaper than median
P/S (TTM) 2.16× · Pricier than 75% of peers
P/FCF 2.8× · Cheaper than median
EV/EBITDA 7.4× · 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
VALUE92 · sector 5
FUTURE0 · sector 6
PAST41 · sector 37
HEALTH67 · sector 48
DIVIDEND77 · sector 81

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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ACWA Power Company 2082 184.00 SAR 24.19 SAR −87%
Brookfield Infrastructure Partners L.P. BIPUN C$54.99 C$34.34 −38%
EnBW Energie Baden-Württemberg AG EBK €68.60 €21.11 −69%
EDP, S.A EDP €4.70 €3.81 −19%

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Frequently asked questions

Is Fujian Funeng Co Ltd (600483) overvalued or undervalued?
As of Sep 5, 2026, our model estimates a fair value of ¥16.00 versus a price of ¥11.12, about +44% upside (undervalued).
What is the fair value of 600483?
Our model-based fair value for Fujian Funeng Co Ltd is ¥16.00 (as of Sep 5, 2026), built from audited fundamentals. The current price: ¥11.12.
What is the quality score of 600483?
Fujian Funeng Co Ltd has a Quality Score of 47/100. 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 Fujian Funeng Co Ltd (600483)?
Fujian Funeng Co Ltd reported trailing-twelve-month revenue of about 13.6B CNY (latest available figure, as of Sep 5, 2026).
What is the net profit margin of 600483?
The net profit margin of Fujian Funeng Co Ltd is about 21.0%, meaning it keeps roughly 21.0% of revenue as net income. Based on the latest reported figures.
Does Fujian Funeng Co Ltd pay a dividend?
Fujian Funeng Co Ltd currently shows a dividend yield of about 3.83% relative to its recent price (as of Sep 5, 2026).
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