Ningxia Baofeng Energy Group (600989) Fair Value & Analysis
Basic Materials · CN · Market cap 149B CNY
Fair value as of: Aug 13, 2026
From 26 valuation models · updated yesterday
Share price +12.3% over the past month.
A solid business, but screening 12% overvalued on our models.
What matters now
- The model range is unusually wide (¥14.12 to ¥51.26). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Our model range runs from ¥14.12 (bear) to ¥51.26 (bull), base ¥20.17. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 73/100 (solid quality) with high evidence: the data supports the verdict.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range ¥11.17 – ¥34.70 · fair‑value band ¥14.12 – ¥51.26 · the ¥22.81 price screens above the ¥20.17 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Ningxia Baofeng Energy Group (600989) currently trades at ¥22.81, while our model-based Fair Value estimate is ¥20.17, implying the stock looks roughly 11.6% overvalued today. The Quality Score stands at 73/100 (solid quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Ningxia Baofeng Energy Group generated revenue of 50.5B CNY at a net margin of 24.9%. Revenue grew 22.9% year over year. It earns a return on equity of 25.8%. Net debt stands at 29.6B CNY. Fundamentals as of Aug 13, 2026
Our scenario range runs from ¥14.12 (bear case) to ¥51.26 (bull case); at ¥22.81, 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 37% 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 -53% fair-value upside, at -12%, 600989 screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.
All 26 models by family
Widest divergence: Growth Earnings (¥45.22) versus Asset-Based (¥4.42). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 71 · Market factors (momentum, volatility) 54
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.
About the company
Ningxia Baofeng Energy Group Co., Ltd., together with its subsidiaries, produces and sells chemical products in China and internationally. It operates through Olefin Products, Coking Products, Fine Chemical Products, and Headquarters and Other Product segments.
Full company description
Ningxia Baofeng Energy Group Co., Ltd., together with its subsidiaries, produces and sells chemical products in China and internationally. It operates through Olefin Products, Coking Products, Fine Chemical Products, and Headquarters and Other Product segments. The company offers polypropylene, coking benzene, methyl tert-butyl ether, polyethylene, refined methanol, industrial sulfur, fertilizer-grade ammonium sulfate, mixed naphthalene, and coal tar pitch. It is also involved in the production and operation of olefin products; coal mining, washing, and processing; coking production and other related processes; production and operation of crude benzene; deep processing of C4; and investment and financing activities. In addition, the company engages in the manufacture and sale of synthetic materials; business, conference, exhibition, and office services; modern logistics, parking, accommodation, and domestic trade and retail; production and sale of ready-mixed concrete and precast cement components; construction projects; and private equity funds, equity investment, investment and asset management, and venture capital activities. The company was formerly known as Ningxia Baofeng Energy Co., Ltd. and changed its name to Ningxia Baofeng Energy Group Co., Ltd. in January 2014. Ningxia Baofeng Energy Group Co., Ltd., was founded in 2005 and is headquartered in Yinchuan, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Ningxia Baofeng Energy Group reported revenue of ¥47.9B in FY2025 versus ¥23.3B in FY2021, a compound +19.7%/yr. Reported net income was ¥11.4B in FY2025, compounding +12.6%/yr from FY2021.
of which total revenue +21.9 pp · buybacks/dilution −1.4 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
600989 screens 12% overvalued. Compare with BASF SE →
Peer Group
Chemicals · 332 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
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: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Chemicals stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| BASF SE BASN | 1,034 MXN | 467.04 MXN | -55% |
| PT Barito Pacific Tbk, BRPT | 1,950 IDR | 1,608 IDR | -18% |
| LG Chem, Ltd 051910 | 275,500 KRW | 587,755 KRW | +113% |
| PTT Global Chemical Public Company PTTGC | 38.50 THB | 18.21 THB | -53% |
| 542812 542812 | ₹4,709 | ₹791.05 | -83% |
| Navin Fluorine International Limited NAVINFLUOR | ₹8,357 | ₹2,146 | -74% |
| Kansai Nerolac Paints Limited 500165 | ₹209.25 | ₹80.51 | -62% |
| Deepak Nitrite Limited DEEPAKNTR | ₹1,718 | ₹679.17 | -60% |
| KCC Corporation 002380 | 454,000 KRW | 1,763,304 KRW | +288% |
| Deepak Fertilisers And Petrochemicals Corporation DEEPAKFERT | ₹1,456 | ₹990.72 | -32% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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