Nantong Haixing Electronics Co Ltd (603115) fair value: what the stock is really worth
As of Nov 12, 2026: fair value (intrinsic value) of Nantong Haixing Electronics Co Ltd stock ¥15.00, price ¥46.18, that is 67.5% below the price, quality 57 out of 100. Rating: strongly overvalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 12, 2026.
How to read this chart
60‑month range ¥9.39 – ¥130.69 · fair‑value band ¥10.50 – ¥19.51 · the ¥46.18 price screens above the ¥15.00 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 12, 2026.
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Nantong Haixing Electronics Co., Ltd. engages in the research, development, production, and sale of electrode foils for aluminum electrolytic capacitors in the People's Republic of China. It offers medium and high voltage etched and formed foils; and low voltage etched and formed foils.
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The company was founded in 1998 and is based in Nantong, the People's Republic of China.
Stock analysis
Nantong Haixing Electronics Co Ltd (603115) currently trades at ¥46.18, while our model-based Fair Value estimate is ¥15.00, 68% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of ¥17.93 per share, and 0 of the 16 models we run sit above the ¥46.18 price.
Bear case: the Asset-Based group reads lowest at ¥3.87, and 16 of the 16 models stay below the price. Data coverage for this calculation is high.
Scenario range: ¥10.50 (bear) to ¥19.51 (bull), the price of ¥46.18 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 57/100 (solid quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Nantong Haixing Electronics Co Ltd reported revenue of 2.3B CNY in FY2025 versus 1.6B CNY in FY2021, a compound +8.7%/yr. Reported net income was 206M CNY in FY2025, compounding −1.7%/yr from FY2021.
Key figures
Market cap 12.6B CNY (≈ $1.9B) Small · P/E ratio 47.6 · P/S ratio 4.92 · EPS (TTM) ¥0.9700 · Dividend yield 1.3% · Net margin 9.5% · Return on equity 12.1% · Return on assets (EBIT) 8.4% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (low confidence).
What moves the price
The share trades about 65% below its 52-week high and 159% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −16% fair-value upside, at −68%, 603115 screens richer than that median.
Fair Value models
Bear¥10.50Fair Value ¥15.00Bull¥19.51
Price ¥46.18 · Downside -67.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (¥0.3213 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+19.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.5%
Start year 2020 (pandemic). Over 10 years: +12.0% a year
Revenue growth 11 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.6%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+5.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+4.3%
Dividend (yield on the price)1.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.4.3% vs 6.1%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.12% → 10%
Compare Nantong Haixing Electronics Co Ltd with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Electrical Equipment & Parts · 592 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside−67.5% · Bottom 25%
Profitability
Return on equity (12 months)12.1% · Above median
Return on assets6.5% · Above median
Net margin (12 months)9.5% · Above median
Operating margin (12 months)9.4% · Above median
Growth and dividend
Revenue growth (quarter YoY)23.5% · Above median
Dividend yield (12 months)1.3% · Above median
Balance sheet
Debt / equity0.13× · Above median
Valuation Multiplesvs Electrical Equipment & Parts median · lower = cheaper
P/E (12 months)47.6× · Priciest 25%
P/B5.93× · Priciest 25%
P/S (12 months)4.92× · Priciest 25%
EV/EBITDA32.5× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 67
PAST (return on equity)48· sector 25
HEALTH (low debt)94· sector 97
DIVIDEND (yield)26· sector 23
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Nantong Haixing Electronics Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/603115
Frequently asked questions
Is Nantong Haixing Electronics Co Ltd (603115) overvalued or undervalued?
As of Nov 12, 2026, our model estimates a fair value of ¥15.00 versus a price of ¥46.18, about 68% lower (overvalued).
What is the fair value of 603115?
Our model-based fair value for Nantong Haixing Electronics Co Ltd is ¥15.00 (as of Nov 12, 2026), built from audited fundamentals. The current price: ¥46.18.
What is the quality score of 603115?
Nantong Haixing Electronics Co Ltd has a Quality Score of 57/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Nantong Haixing Electronics Co Ltd (603115)?
Our model-based price target is the fair value of ¥15.00 (as of Nov 12, 2026) from 16 valuation models. Cautious scenario ¥10.50, optimistic scenario ¥19.51. It is a calculation from audited fundamentals, not an analyst target.
What is the Nantong Haixing Electronics Co Ltd stock forecast for 2026?
Our models put fair value at ¥15.00, about 68% lower versus a price of ¥46.18 (overvalued). Cautious scenario ¥10.50, optimistic scenario ¥19.51. The calculation is refreshed regularly with new filings.
What is the revenue of Nantong Haixing Electronics Co Ltd (603115)?
Nantong Haixing Electronics Co Ltd reported trailing-twelve-month revenue of about 2.6B CNY (latest available figure, as of Nov 12, 2026).
Does Nantong Haixing Electronics Co Ltd pay a dividend?
Nantong Haixing Electronics Co Ltd currently shows a dividend yield of 1.30% relative to its recent price (as of Nov 12, 2026).
How much is the dividend of Nantong Haixing Electronics Co Ltd (603115) and when is the ex-dividend date?
Nantong Haixing Electronics Co Ltd pays a dividend of ¥0.6 per share a year, a dividend yield of 1.3%. The last ex-dividend date was Jul 1, 2026. The payout ratio is 61.9% of earnings. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What is the intrinsic value of Nantong Haixing Electronics Co Ltd (603115)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nantong Haixing Electronics Co Ltd it is ¥15.00 per share (as of Nov 12, 2026), against a price of ¥46.18. It is the blended result of 16 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Nantong Haixing Electronics Co Ltd stock overvalued or undervalued in 2026?
As of Nov 12, 2026, 603115 trades above its calculated fair value: price ¥46.18, fair value ¥15.00, a gap of about −68% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 603115?
No. The price is what the market pays today (¥46.18); the fair value is what the company's own numbers justify (¥15.00). For Nantong Haixing Electronics Co Ltd the two are ¥31.18 per share apart. That gap is exactly why we show both numbers side by side.
How much is Nantong Haixing Electronics Co Ltd worth?
The market values Nantong Haixing Electronics Co Ltd at about 12.6B CNY (market capitalisation, as of Nov 12, 2026). Per share that is ¥46.18; our models calculate a fair value of ¥15.00 per share.
What do the bullish and bearish scenarios say about 603115?
Our models span a range for Nantong Haixing Electronics Co Ltd: cautious scenario ¥10.50, base ¥15.00, optimistic ¥19.51 per share (as of Nov 12, 2026, price ¥46.18). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 603115?
Nantong Haixing Electronics Co Ltd trades at a price-to-earnings ratio of 47.6 (as of Nov 12, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥15.00 is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2019 to 2025), reported earnings, FY2025 ex one-offs: 25.0. Other multiples: P/B 5.9, P/S 4.9, EV/EBITDA 32.5.
How solid is the balance sheet of Nantong Haixing Electronics Co Ltd (603115)?
Balance-sheet figures for Nantong Haixing Electronics Co Ltd (as of Nov 12, 2026): return on equity 12.1%, debt of 0.13 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is 603115 from its 52-week high?
Nantong Haixing Electronics Co Ltd trades at ¥46.18, about 65% below its 52-week high of ¥130.69 and 159% above the low of ¥17.83 (as of Nov 12, 2026). Distance from the high says nothing about value: that is what the fair value of ¥15.00 is for.
Which stocks are comparable to Nantong Haixing Electronics Co Ltd?
From the same area (Industrials) we also value Contemporary Amperex Technology Co, ABB Ltd, Vertiv Holdings, Delta Electronics (Thailand) Public Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Nantong Haixing Electronics Co Ltd stock attractive at the current price?
The data as of Nov 12, 2026: price ¥46.18, calculated fair value ¥15.00 (−68%), Quality Score 57/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 603115 calculated?
We run Nantong Haixing Electronics Co Ltd through 16 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ¥15.00 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.3% above its aggregate fair value. Nantong Haixing Electronics Co Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Nantong Haixing Electronics Co Ltd (603115)?
The closing price on Nov 12, 2026 was ¥46.18. Our model-based fair value is ¥15.00, about 68% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nantong Haixing Electronics Co Ltd right now?
The price sits above even our optimistic bull case (¥19.51). The favourable scenario is already priced in. Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (¥10.50 to ¥19.51) leaves room in how you read the outcome.
Where does the earnings growth of Nantong Haixing Electronics Co Ltd (603115) come from?
Earnings per share at Nantong Haixing Electronics Co Ltd grew +6.1 % a year from 2014 to 2024. Broken into its drivers: revenue per share +5.6 %, EBIT margin +0.9 %, tax rate +0.6 %, residual (interest, one-offs) −1.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Nantong Haixing Electronics Co Ltd
How large is the market capitalisation of Nantong Haixing Electronics Co Ltd (603115)?
The market capitalisation of Nantong Haixing Electronics Co Ltd is 12.6B CNY (≈ $1.9B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Nantong Haixing Electronics Co Ltd (603115)?
The price-to-sales ratio of Nantong Haixing Electronics Co Ltd is 4.92 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Nantong Haixing Electronics Co Ltd (603115)?
Earnings per share at Nantong Haixing Electronics Co Ltd are ¥0.9700 (price ÷ EPS = P/E 47.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Nantong Haixing Electronics Co Ltd (603115)?
The dividend yield of Nantong Haixing Electronics Co Ltd is 1.3% (payout 61.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Nantong Haixing Electronics Co Ltd (603115)?
The net margin of Nantong Haixing Electronics Co Ltd is 9.5% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Nantong Haixing Electronics Co Ltd (603115)?
The return on equity (ROE) of Nantong Haixing Electronics Co Ltd is 12.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Nantong Haixing Electronics Co Ltd (603115)?
On an EBIT basis the return on assets of Nantong Haixing Electronics Co Ltd is 8.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Nantong Haixing Electronics Co Ltd (603115)?
The operating margin of Nantong Haixing Electronics Co Ltd is 9.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nantong Haixing Electronics Co Ltd (603115)?
Revenue at Nantong Haixing Electronics Co Ltd is growing +23.5% versus a year earlier (3y avg +9.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Nantong Haixing Electronics Co Ltd (603115)?
Earnings per share at Nantong Haixing Electronics Co Ltd are growing +31.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Nantong Haixing Electronics Co Ltd (603115) generate?
The free cash flow of Nantong Haixing Electronics Co Ltd is −138M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Nantong Haixing Electronics Co Ltd (603115) hold?
Nantong Haixing Electronics Co Ltd holds more cash than debt, 578M CNY net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 12, 2026