Henan Pinggao Electric Co.,Ltd.

SHSE:600312 Stock Report

Market Cap: CN¥25.1b

Henan Pinggao ElectricLtd Valuation

Is 600312 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 600312 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 600312 (CN¥18.5) is trading above our estimate of fair value (CN¥14.91)

Significantly Below Fair Value: 600312 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 600312?

Key metric: As 600312 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 600312. This is calculated by dividing 600312's market cap by their current earnings.
What is 600312's PE Ratio?
PE Ratio22.4x
EarningsCN¥1.12b
Market CapCN¥25.10b

Price to Earnings Ratio vs Peers

How does 600312's PE Ratio compare to its peers?

The above table shows the PE ratio for 600312 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average42.4x
300073 Beijing Easpring Material TechnologyLTD
26.6x25.4%CN¥23.9b
002130 ShenZhen Woer Heat-Shrinkable MaterialLtd
24.9x24.3%CN¥21.8b
300748 JL Mag Rare-Earth
98.7x33.6%CN¥23.8b
600517 State Grid YingdaLtd
19.5xn/aCN¥32.5b
600312 Henan Pinggao ElectricLtd
22.4x18.1%CN¥25.1b

Price-To-Earnings vs Peers: 600312 is good value based on its Price-To-Earnings Ratio (22.4x) compared to the peer average (42.4x).

Price to Earnings Ratio vs Industry

How does 600312's PE Ratio compare vs other companies in the CN Electrical Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
300023 Bode Energy Equipment
3.6xn/aUS$51.42m
No more companies available in this PE range
600312 22.4xIndustry Avg. 35.3xNo. of Companies36PE020406080100+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 600312 is good value based on its Price-To-Earnings Ratio (22.4x) compared to the CN Electrical industry average (35.3x).

Price to Earnings Ratio vs Fair Ratio

What is 600312's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

600312 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio22.4x
Fair PE Ratio23x

Price-To-Earnings vs Fair Ratio: 600312 is good value based on its Price-To-Earnings Ratio (22.4x) compared to the estimated Fair Price-To-Earnings Ratio (23x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 600312 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCN¥18.50
CN¥22.48
+21.5%
13.4%CN¥26.00CN¥18.36n/a7
Nov ’25CN¥18.46
CN¥22.22
+20.4%
12.5%CN¥26.00CN¥18.36n/a7
Oct ’25CN¥20.95
CN¥22.20
+5.9%
11.1%CN¥25.20CN¥18.36n/a8
Sep ’25CN¥18.38
CN¥22.65
+23.2%
10.2%CN¥25.20CN¥18.36n/a7
Aug ’25CN¥20.11
CN¥22.62
+12.5%
10.1%CN¥25.00CN¥18.36n/a7
Jul ’25CN¥19.74
CN¥18.31
-7.2%
5.0%CN¥20.10CN¥17.00n/a6
Jun ’25CN¥14.18
CN¥17.57
+23.9%
5.5%CN¥18.40CN¥15.65n/a6
May ’25CN¥14.81
CN¥16.67
+12.5%
6.5%CN¥18.00CN¥15.30n/a6
Apr ’25CN¥14.00
CN¥16.17
+15.5%
3.9%CN¥17.00CN¥15.30n/a6
Mar ’25CN¥14.33
CN¥15.67
+9.3%
5.8%CN¥17.00CN¥14.00n/a6
Feb ’25CN¥12.28
CN¥15.40
+25.4%
4.9%CN¥16.06CN¥14.00n/a5
Jan ’25CN¥12.69
CN¥13.39
+5.5%
19.5%CN¥15.65CN¥8.39n/a5
Dec ’24CN¥11.86
CN¥13.29
+12.0%
19.6%CN¥15.65CN¥8.39n/a5
Nov ’24CN¥10.93
CN¥13.29
+21.6%
19.6%CN¥15.65CN¥8.39CN¥18.465
Oct ’24CN¥11.00
CN¥12.09
+9.9%
25.7%CN¥15.65CN¥7.30CN¥20.956
Sep ’24CN¥10.52
CN¥11.65
+10.8%
31.0%CN¥15.65CN¥6.06CN¥18.386
Aug ’24CN¥11.82
CN¥11.37
-3.8%
32.3%CN¥15.26CN¥6.06CN¥20.116
Jul ’24CN¥12.39
CN¥10.25
-17.3%
32.6%CN¥14.00CN¥6.06CN¥19.745
Jun ’24CN¥11.71
CN¥10.25
-12.5%
32.6%CN¥14.00CN¥6.06CN¥14.185
May ’24CN¥11.48
CN¥9.81
-14.5%
30.0%CN¥12.80CN¥6.06CN¥14.815
Apr ’24CN¥9.61
CN¥8.57
-10.8%
28.6%CN¥11.80CN¥5.70CN¥14.005
Mar ’24CN¥9.78
CN¥8.57
-12.4%
28.6%CN¥11.80CN¥5.70CN¥14.335
Feb ’24CN¥8.71
CN¥8.57
-1.6%
28.6%CN¥11.80CN¥5.70CN¥12.285
Jan ’24CN¥7.91
CN¥8.59
+8.6%
28.2%CN¥11.80CN¥5.80CN¥12.695
Dec ’23CN¥8.48
CN¥8.17
-3.7%
27.6%CN¥10.80CN¥5.80CN¥11.864
Nov ’23CN¥7.88
CN¥8.09
+2.7%
28.9%CN¥10.80CN¥5.50CN¥10.934

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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