Nanjing Public Utilities Development Co., Ltd.
000421.SZ · SHZ
Company research
Nanjing Public Utilities Development Co., Ltd. (000421.SZ) is a China-based diversified utilities company listed on the Shenzhen Stock Exchange, primarily engaged in urban gas supply, real estate development, and passenger transportation services. The company supplies natural gas through pipelines across Jiangsu and surrounding regions, while also developing and selling residential and commercial real estate properties, and operating taxis, buses, and long-distance passenger transport services. In addition, it is involved in tourism services, electric power operations, financial credit, micro-loans, housing rental, and advertising and media services, as well as car sales, repairs, and inspections. Founded in 1979 and headquartered in Nanjing, Jiangsu Province, the company is led by CEO Wei Zhou and employs approximately 2,795 full-time staff, with a market capitalization of approximately CNY 2.93 billion.
Research reports
Uses a discounted cash flow framework and multiple valuation lenses to estimate intrinsic value at 3.02 CNY versus a market price of 5.63 CNY, concluding the shares are overvalued by about 46% with limited upside. The analysis walks through alternative DCF scenarios, fair-value, P/E and dividend models, highlighting sensitivity ranges and implying that current pricing embeds optimistic assumptions relative to cash-flow and return metrics.
中国证券报·中证网（转载于东方财富网） · April 12, 2026南京公用：2025年净利润同比增长4.7% 拟10派0.6元Summarizes the 2025 annual report, noting revenue of 69.81 billion CNY (+6.27% year-on-year), net profit of 48.08 million CNY (+4.70%), and a sharp improvement in operating cash flow alongside a proposed cash dividend of 0.6 CNY per 10 shares. It discusses changes in asset and liability structure, inventory and funding mix, return on equity and invested capital, and major shifts in the top shareholder list, framing the company as low-return but cash-flow-strong with valuation metrics that require investor caution.
新浪财经鹰眼工作室（转载于网易号） · April 11, 2026南京公用2025年营收69.81亿元同比增6.27%Provides a data-driven read-through of the 2025 results, highlighting 69.81 billion CNY in revenue (+6.27%), 48.08 million CNY in net profit (+4.70%), margin dynamics, valuation multiples (P/E, P/B, P/S) and changes in expense structure. The note breaks down segment revenue contributions, profitability trends and shareholder concentration, portraying a modestly growing but low-margin business with improving earnings quality, while stressing that the information is for reference and not explicit investment advice.