| Valuation method | Value, $ | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 29.21 | 827 |
| Intrinsic value (DCF) | 1.01 | -68 |
| Graham-Dodd Method | n/a | |
| Graham Formula | n/a |
Shenzhen Feima International Supply Chain Co., Ltd. (002210.SZ) is a diversified industrial supply chain management company headquartered in Shenzhen, China. Founded in 1998 and listed on the Shenzhen Stock Exchange, Feima has evolved from traditional supply chain services into a multifaceted industrial operator. The company's core business encompasses comprehensive coal supply chain services, including procurement, logistics, warehousing, and distribution tailored for coal terminal users. Feima also provides international trade services such as import/export customs clearance and procurement execution, supporting corporate and government overseas projects. Diversifying its portfolio, the company operates a non-ferrous metal e-commerce platform and has expanded into renewable energy through straw and garbage power generation projects, solid waste processing, and industrial park development. Additionally, Feima maintains an IT electronics business segment. Operating in the industrials sector with a focus on air services infrastructure, Feima leverages its strategic location in Shenzhen to serve both domestic Chinese and international markets, positioning itself as an integrated supply chain solutions provider across multiple industrial verticals.
Shenzhen Feima presents a mixed investment profile with several notable strengths and risks. The company maintains a strong liquidity position with CNY 105.6 million in cash against CNY 29 million in total debt, indicating a robust balance sheet. Positive net income of CNY 28.5 million and strong operating cash flow of CNY 89.4 million demonstrate operational viability. However, the company's extremely low beta of -0.003 suggests minimal correlation with broader market movements, which could indicate either defensive characteristics or limited market participation. The absence of dividend payments may deter income-focused investors, while the company's diversified but seemingly unrelated business segments (coal supply chain, renewable energy, IT electronics) create execution complexity and potential strategic focus challenges. The company's market capitalization of approximately CNY 9.66 billion positions it as a small-to-mid-cap player in the competitive Chinese industrial sector.
Shenzhen Feima International Supply Chain operates in a highly fragmented and competitive market for industrial supply chain services in China. The company's competitive positioning is characterized by its diversification across multiple business segments rather than dominance in any single vertical. In coal supply chain services, Feima faces competition from specialized logistics providers and larger state-owned enterprises with greater scale and resource advantages. The company's expansion into renewable energy projects places it against established energy companies and environmental service providers with deeper technical expertise and project experience. Feima's non-ferrous metal e-commerce platform competes in a crowded digital marketplace dominated by larger platforms with greater liquidity and user bases. The company's primary competitive advantages appear to be its integrated service model, which allows cross-selling opportunities across business segments, and its established presence in Shenzhen—a major industrial and logistics hub. However, Feima's relatively small scale compared to industry leaders limits its bargaining power with suppliers and customers. The company's negative beta suggests it may have developed niche market positioning or specialized capabilities that insulate it from broader economic cycles, but this also indicates limited market recognition and potentially constrained growth prospects. Success will likely depend on the company's ability to execute its diversification strategy effectively while maintaining operational efficiency across disparate business units.