Ningxia Baofeng Energy Group Co Ltd (600989) Fair Value & Analysis
Basic Materials · CN · Market cap 149B CNY (≈ $22.2B) · ISIN CNE100003LF5
What is Ningxia Baofeng Energy Group Co Ltd really worth?
A solid business, but trading 21% above our fair value of ¥20.17.
Strengths
Risks
For context
Fair value as of: Aug 30, 2026
From 26 valuation models · updated 6 days ago
Share price +5.4% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- A high-quality business (quality 73/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The model range is unusually wide (¥14.12 to ¥51.26). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.
How to read this chart
60‑month range ¥11.17 – ¥34.70 · fair‑value band ¥14.12 – ¥51.26 · the ¥24.40 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 30, 2026.
Analysis
Ningxia Baofeng Energy Group Co Ltd (600989) currently trades at ¥24.40, while our model-based Fair Value estimate is ¥20.17, implying the stock looks roughly 21.0% overvalued today. The Quality Score stands at 73/100 (solid quality), in the Basic Materials sector. Bull case: the Growth Earnings group reads highest at a median of ¥45.22 per share, and 15 of the 26 models we run sit above the ¥24.40 price. Bear case: the Asset-Based group reads lowest at ¥4.42, and 11 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Ningxia Baofeng Energy Group Co Ltd 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 30, 2026
Our scenario range runs from ¥14.12 (bear case) to ¥51.26 (bull case); at ¥24.40, 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 33% below its 52-week high and 59% 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 −17%, 600989 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 ¥0.6509 per share, which is 3.2 % 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: Growth Earnings (¥45.22) versus Asset-Based (¥4.42). Highest evidence: FCF DCF (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 71 · Market factors (momentum, volatility) 66
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
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 Co Ltd reported revenue of 47.9B CNY in FY2025 versus 23.3B CNY in FY2021, a compound +19.7%/yr. Reported net income was 11.4B CNY in FY2025, compounding +12.6%/yr from FY2021.
of which total revenue +21.9 % · buybacks/dilution −1.1 %
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).
600989 screens 21% 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.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Chemicals stocks, each showing price versus our Fair Value estimate (as of Aug 30, 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% |
| 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% |
| Hengli Petrochemical Co 600346 | ¥18.87 | ¥17.09 | −9% |
| LG Chem, Ltd 051910 | 263,000 KRW | 587,755 KRW | +123% |
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