Ningbo ShanshanLtd (SHSE:600884) Stock Valuation, Peer Comparison & Price Targets

Q: What is the Fair Price of 600884 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

600884 (CN¥9.78) is trading below our estimate of [[fair value]] (CN¥28.11)

Share Price vs Fair Value

What is the Fair Price of 600884 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 600884 (CN¥9.78) is trading below our estimate of fair value (CN¥28.11)

Significantly Below Fair Value: 600884 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 600884?

Key metric: As 600884 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 600884. This is calculated by dividing 600884's market cap by their current revenue.
What is 600884's PS Ratio?
PS Ratio	1.2x
Sales	CN¥17.64b
Market Cap	CN¥21.05b

600884 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	2.1x
Enterprise Value/EBITDA	38.1x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does 600884's PS Ratio compare to its peers?

The above table shows the PS ratio for 600884 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	8.3x
003022 Levima Advanced Materials	3.2x	n/a	CN¥22.1b
603826 Fujian Kuncai Material Technology	15.6x	38.0%	CN¥15.1b
300346 Jiangsu Nata Opto-electronic Material	13.6x	21.8%	CN¥21.7b
000830 Luxi Chemical Group	0.8x	8.1%	CN¥23.7b
600884 Ningbo ShanshanLtd	1.2x	18.8%	CN¥21.1b

Price-To-Sales vs Peers: 600884 is good value based on its Price-To-Sales Ratio (1.2x) compared to the peer average (8.3x).

Price to Sales Ratio vs Industry

How does 600884's PS Ratio compare vs other companies in the CN Chemicals Industry?

23 Companies	Price / Sales	Estimated Growth	Market Cap
600346 Hengli PetrochemicalLtd	0.4x	4.3%	US$14.32b
002493 Rongsheng Petrochemical	0.3x	9.3%	US$13.07b
000301 Jiangsu Eastern ShenghongLtd	0.4x	6.8%	US$8.22b
601233 Tongkun Group	0.3x	4.6%	US$3.95b

23 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 600884 is good value based on its Price-To-Sales Ratio (1.2x) compared to the CN Chemicals industry average (2.4x).

Price to Sales Ratio vs Fair Ratio

What is 600884's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

600884 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	1.2x
Fair PS Ratio	1.7x

Price-To-Sales vs Fair Ratio: 600884 is good value based on its Price-To-Sales Ratio (1.2x) compared to the estimated Fair Price-To-Sales Ratio (1.7x).

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 600884 forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	CN¥9.78	CN¥11.17 +14.2%	26.9%	CN¥14.00	CN¥7.00	n/a	3
Nov ’25	CN¥9.02	CN¥11.17 +23.8%	26.9%	CN¥14.00	CN¥7.00	n/a	3
Oct ’25	CN¥9.32	CN¥12.61 +35.3%	8.7%	CN¥14.00	CN¥11.33	n/a	3
Sep ’25	CN¥7.07	CN¥12.61 +78.4%	8.7%	CN¥14.00	CN¥11.33	n/a	3
Aug ’25	CN¥7.62	CN¥12.61 +65.5%	8.7%	CN¥14.00	CN¥11.33	n/a	3
Jul ’25	CN¥7.85	CN¥12.61 +60.6%	8.7%	CN¥14.00	CN¥11.33	n/a	3
Jun ’25	CN¥10.58	CN¥14.46 +36.6%	23.1%	CN¥20.00	CN¥11.33	n/a	4
May ’25	CN¥11.85	CN¥13.83 +16.7%	23.4%	CN¥20.00	CN¥11.30	n/a	5
Apr ’25	CN¥12.10	CN¥13.86 +14.5%	23.2%	CN¥20.00	CN¥11.30	n/a	5
Mar ’25	CN¥11.45	CN¥14.20 +24.0%	24.7%	CN¥20.00	CN¥11.30	n/a	4
Feb ’25	CN¥9.95	CN¥14.45 +45.2%	23.1%	CN¥20.00	CN¥11.30	n/a	4
Jan ’25	CN¥13.62	CN¥14.95 +9.8%	22.7%	CN¥20.00	CN¥11.30	n/a	4
Dec ’24	CN¥13.41	CN¥14.95 +11.5%	22.7%	CN¥20.00	CN¥11.30	n/a	4
Nov ’24	CN¥13.82	CN¥14.95 +8.2%	22.7%	CN¥20.00	CN¥11.30	CN¥9.02	4
Oct ’24	CN¥13.90	CN¥14.95 +7.6%	22.7%	CN¥20.00	CN¥11.30	CN¥9.32	4
Sep ’24	CN¥13.63	CN¥17.13 +25.7%	28.6%	CN¥25.00	CN¥11.30	CN¥7.07	6
Aug ’24	CN¥15.42	CN¥18.25 +18.4%	25.8%	CN¥25.00	CN¥12.50	CN¥7.62	6
Jul ’24	CN¥15.14	CN¥21.00 +38.7%	25.3%	CN¥29.00	CN¥13.00	CN¥7.85	6
Jun ’24	CN¥15.17	CN¥22.67 +49.4%	17.4%	CN¥29.00	CN¥16.00	CN¥10.58	6
May ’24	CN¥15.16	CN¥22.67 +49.5%	17.4%	CN¥29.00	CN¥16.00	CN¥11.85	6
Apr ’24	CN¥17.23	CN¥23.00 +33.5%	18.4%	CN¥29.00	CN¥16.00	CN¥12.10	5
Mar ’24	CN¥18.10	CN¥23.00 +27.1%	18.4%	CN¥29.00	CN¥16.00	CN¥11.45	5
Feb ’24	CN¥19.74	CN¥23.00 +16.5%	18.4%	CN¥29.00	CN¥16.00	CN¥9.95	5
Jan ’24	CN¥18.20	CN¥23.00 +26.4%	18.4%	CN¥29.00	CN¥16.00	CN¥13.62	5
Dec ’23	CN¥19.36	CN¥23.00 +18.8%	18.4%	CN¥29.00	CN¥16.00	CN¥13.41	5
Nov ’23	CN¥18.57	CN¥23.00 +23.9%	18.4%	CN¥29.00	CN¥16.00	CN¥13.82	5

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Ningbo ShanshanLtd Valuation