TacticScaleWhat Guodian Nanjing Automation (国电南自) Does & How It Makes Money (600268.SS)
Updated October 2026 · reflects Guodian Nanjing Automation's latest reported financials
Chinese maker of power grid protection and automation equipment. It earns revenue by selling power automation hardware and systems, such as relay protection, substation automation and primary electrical equipment, to utilities, power plants, rail operators and industrial customers.
How Guodian Nanjing Automation makes money
It earns revenue by selling power automation hardware and systems, such as relay protection, substation automation and primary electrical equipment, to utilities, power plants, rail operators and industrial customers. It also earns from integrated solutions and engineering general contracting projects.
What Guodian Nanjing Automation does
Guodian Nanjing Automation is a Nanjing-based supplier of industrial power automation equipment. The company was founded in 1940 and is a subsidiary of Huadian Corporation Nanjing Electric Power Automation Equipment Co., Ltd. Its core business is protecting and controlling electrical systems. Products include high-, medium- and low-voltage relay protection, safety and stability control, power plant electrical systems, and substation and distribution network automation. It also makes primary equipment such as transformers, mutual inductors, switchgear and online monitoring devices. Beyond the grid, the company serves rail transit with track monitoring and traction substations. It also supplies hydropower and water conservancy automation, frequency conversion for energy saving, and energy information technology and security products. In new energy it offers prefabricated substations, reactive power compensation and inverters. It also sells smart grid, power plant and building automation solutions and takes on engineering general contracting projects. Most of its customers are in China, and it also sells internationally. Note: its listed industry classification (Consumer Electronics) does not match its actual business, which is power equipment and automation.
Products & services
- Relay protection and safety/stability control systems
- Substation and distribution network automation
- Transformers, mutual inductors and switchgear
- Rail transit monitoring and traction substations
- Hydropower and water conservancy automation
- Prefabricated substations, reactive power compensation and inverters
国电南自是做什么的？
国电南自是一家总部位于南京的电力自动化设备供应商，成立于1940年，是华电集团南京电力自动化设备有限公司的子公司。公司核心业务是电力系统的保护与控制，产品包括高、中、低压继电保护、安全稳定控制、电厂电气、变电站及配电网自动化，以及变压器、互感器、开关柜和在线监测等一次设备。 除电网业务外，公司还提供轨道交通监控系统与牵引变电站、水电及水利自动化、节能变频、能源信息技术与信息安全产品，以及预制舱式变电站、无功补偿、逆变器等新能源产品，并承接智能电网、电厂、楼宇自动化解决方案和工程总承包项目。业务以国内为主，同时拓展海外市场。
What is Guodian Nanjing Automation worth?
On an owner-earnings DCF, Guodian Nanjing Automation's most-likely value is about ¥7 versus a recent price near ¥10 (57% 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 →
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