TacticScaleWhat Chengzhi (诚志股份) Does & How It Makes Money (000990.SZ)
Updated October 2026 · reflects Chengzhi's latest reported financials
Chinese maker of industrial gases, display materials and biopharma ingredients. Revenue comes mainly from selling gases and bulk chemicals to industrial customers under supply contracts, plus sales of display-panel materials and processed glass to electronics manufacturers.
How Chengzhi makes money
Revenue comes mainly from selling gases and bulk chemicals to industrial customers under supply contracts, plus sales of display-panel materials and processed glass to electronics manufacturers. A smaller share comes from biopharmaceutical and fine-chemical products, chemical raw material trading, and fees from medical and health services.
What Chengzhi does
Chengzhi Co., Ltd. (000990.SZ) is a diversified Chinese industrial group founded in 1998 and headquartered in Nanchang. Despite its healthcare classification, the bulk of its operations sit in clean energy and chemicals: it produces and sells carbon monoxide, purified gas and syngas alongside methanol, ethylene and butanol, serving downstream industrial buyers. Its second pillar is semiconductor display materials, covering TN, STN and TFT type material processing and glass processing for panels — an upstream position in China's flat-panel supply chain. The third pillar is healthcare and life science, spanning biopharmaceuticals, pharmaceutical intermediates, fine ingredients such as d-ribose, arbutin and Lipox, chemical raw material trading, and medical and health services.
Products & services
- Industrial gases: carbon monoxide, syngas, purified gas
- Basic chemicals: methanol, ethylene, butanol
- TN/STN/TFT display materials and display glass processing
- D-ribose and d-ribose powder
- Arbutin and Lipox
- Biopharmaceuticals and pharmaceutical intermediates; medical and health services
诚志股份是做什么的？
诚志股份（000990.SZ）成立于1998年，总部位于江西南昌，是一家业务多元的产业集团。尽管被归入医疗健康板块，其主体业务集中在清洁能源与化工领域，生产并销售一氧化碳、净化气、合成气等气体产品，以及甲醇、乙烯、丁醇等工业化学品。 第二大板块是半导体显示材料，涵盖TN型、STN型、TFT型材料加工及显示用玻璃加工，处于中国面板产业链的上游环节。第三大板块为医疗与生命科学，包括生物医药和医药中间体的生产销售、D-核糖及D-核糖粉、熊果苷、Lipox等精细产品、化工原料贸易，以及医疗健康服务。
What is Chengzhi worth?
On an owner-earnings DCF, Chengzhi's most-likely value is about ¥5 versus a recent price near ¥6 (28% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~¥3) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
Related companies
Jinhong Gas (688106.SS) · Zibo Qixiang Tengda Chemical (002408.SZ) · GuoCheng Mining (000688.SZ) · Changzheng Engineering Technology (603698.SS) · Inner Mongolia Junzheng Energy & Chemical (601216.SS)