EN DE
Watch Changzhou Fusion New Material Co. Ltd. A for free: we tell you when fair value or trend changes.
Data-driven stock valuation

Changzhou Fusion New Material Co. Ltd. A (688503) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Changzhou Fusion New Material Co. Ltd. A stock ¥48.55, price ¥48.36, upside +0.4%, quality 45 out of 100. Rating: fairly valued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.

  1. Keep an eye on it?Free in your watchlist: 5 stocks without an account, 10 with one Yes, for free

Technology CN · ISIN CNE100005VB8

CF Changzhou Fusion New Material Co. Ltd. A logo Broad data Nov 7, 2026

Changzhou Fusion New Material Co. Ltd. A

688503 · SHG
Fairly valued, weak quality

The stock costs about what our calculation considers fair.

Broad data
Last quarter vs. a year ago: revenue +45%, profit +192%.
Fair value ¥48.55 · Fairly valued (+0.4%)
Quality 45/100
Expensive Growth (revenue YoY +16.9 %/yr in CNY)
Thin margins · 0.8% net margin (TTM)
0.9% dividend yield · Token dividend
Mixed vs. peers (7/12)
Negative free cash flow
Narrow moat 22/100
Watch Changzhou Fusion New Material Co. Ltd. A for free: we tell you when fair value or trend changes. Watch for free

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

¥132.70 ¥24.05 Fair Value ¥48.55 Dec 2022 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.

How to read this chart

47‑month range ¥24.05 – ¥132.70 · fair‑value band ¥36.37 – ¥60.69 · the ¥48.36 price screens below the ¥48.55 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.

Follow Changzhou Fusion New Material Co. Ltd. A in your weekly email

Every Wednesday you see whether Changzhou Fusion New Material Co. Ltd. A is on track or worth a review, plus price against fair value. Free, up to 3 stocks.

We send you a confirmation link. Unsubscribe with one click.

Which stocks are undervalued right now? Check free Discover now →

Company profile

Changzhou Fusion New Material Co., Ltd. engages in the research and development, production, and sale of conductive silver paste, electronic component paste, conductive adhesive, and semiconductor materials for photovoltaic industry in China and internationally.

Show moreShow less

The company manufactures special electronic and metal materials; optoelectronic devices; synthetic materials; electronic raw materials and products; and electronic slurries; and provides technical services, technology development, technology consulting, technology exchange, environmentally friendly and energy-saving materials, technology transfer, and technology promotion services.

It is also involved in the import and export of technology, goods, and agency; sale of integrated circuit chips and chemical products; sales of power distribution switch control equipment; energy storage technology services; battery sales; sales of solar thermal power generation products; solar power generation technology services; and manufacturing and sale of graphite and carbon, rubber, and sealing packing products, as well as optoelectronic devices.

In addition, the company offers technical support services for its products. Its products are used in various fields, including electronic components, 5G filters, electrochromic glass, flexible circuits, energy storage, optical communications, consumer electronics, and other fields.

Changzhou Fusion New Material Co., Ltd. was founded in 2015 and is headquartered in Changzhou, China.

Stock analysis

Changzhou Fusion New Material Co. Ltd. A (688503) currently trades at ¥48.36, while our model-based Fair Value estimate is ¥48.55, so the stock looks roughly fairly valued today (gap 0.4%).

Show more

Valuation

Bull case: the Growth Earnings group reads highest at a median of ¥69.68 per share, and 7 of the 16 models we run sit above the ¥48.36 price.

Bear case: the Asset-Based group reads lowest at ¥13.74, and 9 of the 16 models stay below the price. Data coverage for this calculation is high.

Scenario range: ¥36.37 (bear) to ¥60.69 (bull), the price of ¥48.36 sits inside 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 45/100 (below-average quality), in the Technology sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Changzhou Fusion New Material Co. Ltd. A reported revenue of 14.6B CNY in FY2025 versus 5.1B CNY in FY2021, a compound +30.2%/yr. Reported net income was 420M CNY in FY2025, compounding +14.2%/yr from FY2021.

Key figures

Market cap 11.7B CNY (≈ $1.8B) Small · P/E ratio 72.2 · P/S ratio 0.62 · EPS (TTM) ¥0.6700 · Dividend yield 0.9% · Net margin 0.8% · Return on equity 3.1% · Return on assets (EBIT) 8.3% (5-year average).

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 22 out of 100 (medium confidence).

What moves the price

The share trades about 64% below its 52-week high and 18% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at 10% fair-value upside, at 0%, 688503 screens richer than that median.

Fair Value models

Bear ¥36.37 Fair Value ¥48.55 Bull ¥60.69
Price ¥48.36 · Upside +0.4%
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 (¥0.2034 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.
Best data coverage
Residual Income ¥15.21 ¥15.57 ¥16.93 76
ROIC Compounder ¥23.77 ¥28.45 ¥31.77 70
Gordon GGM ¥3.03 ¥4.90 ¥6.20 69
All 16 models by family
Earnings-Based
Graham-Dodd ¥11.79 ¥82.23 ¥115.40 63
Lynch FV ¥35.04 ¥50.06 ¥65.08 61
PEG = 1.0 ¥35.04 ¥50.06 ¥65.08 57
EPV ¥22.42 ¥24.19 ¥25.61 68
Dividend Discount
Gordon GGM ¥3.03 ¥4.90 ¥6.20 69
DDM Multi-Stage ¥3.03 ¥4.73 ¥5.29 67
Multiples
P/E Multiple ¥36.41 ¥48.55 ¥60.69 63
P/S Multiple ¥22.11 ¥29.48 ¥36.85 58
P/B Multiple ¥91.57 ¥122.10 ¥152.62 55
EV/EBIT ¥36.37 ¥54.24 ¥72.12 62
EV/EBITDA ¥26.89 ¥41.60 ¥56.32 63
EV/Revenue ¥9.85 ¥21.47 ¥33.09 48
Asset-Based
NCAV (Graham) ¥9.07 ¥13.74 ¥17.18 52
Economic Profit
Residual Income ¥15.21 ¥15.57 ¥16.93 76
ROIC Compounder ¥23.77 ¥28.45 ¥31.77 70
Growth Earnings
Growth-Adj P/E ¥48.78 ¥69.68 ¥90.58 67

Open the full fair value analysis →

Quality Score breakdown

Overall quality 45/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 41
How much profit the company makes from its sales and capital
Quality Growth 37
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 69
Debt, balance sheet and risk of trouble
Investment 61
Does it invest with discipline instead of growing at any price?
Low Volatility 12
How calm the share price moves, does not count
Price momentum 23
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 10
Distance to the 52-week high, does not count
New shares 84
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
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.
+21.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+20.5%
Dividend (yield on the price)0.9%
Per share before 2024divided by the spin-off factor 1.48

Watch 688503, get fair value alerts →

Compare Changzhou Fusion New Material Co. Ltd. A with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

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.Solar · 97 stocks

Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 45 · Above median
Fair Value upside +0.4% · Above median
Profitability
Return on equity (12 months) 3.1% · Above median
Return on assets 3.5% · Above median
Net margin (12 months) 0.8% · Above median
Operating margin (12 months) −4.7% · Below median
Growth and dividend
Revenue growth (quarter YoY) 44.9% · Top 25%
Dividend yield (12 months) 0.9% · Below median

Valuation Multiplesvs Solar median · lower = cheaper

P/E (12 months) 72.2× · Priciest 25%
P/B 2.34× · Pricier than median
P/S (12 months) 0.62× · Cheapest 25%
EV/EBITDA 17.6× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)34 · sector 4
FUTURE (revenue growth)100 · sector 7
PAST (return on equity)12 · sector 0
HEALTH (low debt)0 · sector 82
DIVIDEND (yield)18 · sector 26

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Solar stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
First Solar, Inc FSLR $201.14 $392.02 +95% vs 688503
Hengdian Group 002056 ¥17.29 ¥31.86 +84% vs 688503
Waaree Energies Limited WAAREEENER ₹2,438 ₹3,613 +48% vs 688503
Jinko Solar Co 688223 ¥4.38 ¥6.49 +48% vs 688503
Nextpower Inc NXT $104.91 $115.40 +10% vs 688503
Premier Energies Limited PREMIERENE ₹890.00 ₹908.90 +2% vs 688503
Tongwei Co 600438 ¥12.25 ¥12.13 −1% vs 688503
Hanwha Solutions Corporation 009830 26,050 KRW 21,850 KRW −16% vs 688503
CSI Solar Co 688472 ¥9.03 ¥5.85 −35% vs 688503
Shanghai Aiko Solar Energy Co 600732 ¥13.40 ¥7.22 −46% vs 688503

Explore undervalued stocks

More undervalued Technology stocks →

Try a ready-made strategy

Pick a strategy and jump into the live analysis with that exact screen applied.

🥇 Backtested Best 🏆 Big Names 💎 Quality on Sale 🚀 Profitable Growth 🧊 Quality Compounders 💵 Dividend Stars 📈 Strong Momentum 📉 Fallen Angels ⚖️ Deeply Undervalued 🔍 Small-Cap Gems 🏰 Moat at a Fair Price 💼 Insider Buying 🎩 Buffett-Style Quality 📚 Peter Lynch GARP 🧮 Greenblatt Magic Formula 🛡️ Graham Defensive

Discover tools

For bloggers & editors: embed code + live data

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.

Changzhou Fusion New Material Co. Ltd. A: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Changzhou Fusion New Material Co. Ltd. A Fair Value". https://www.fairvalue-calculator.com/stock/688503

Frequently asked questions

Is Changzhou Fusion New Material Co. Ltd. A (688503) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of ¥48.55 versus a price of ¥48.36, about +0% upside (fairly valued).
What is the fair value of 688503?
Our model-based fair value for Changzhou Fusion New Material Co. Ltd. A is ¥48.55 (as of Nov 7, 2026), built from audited fundamentals. The current price: ¥48.36.
What is the quality score of 688503?
Changzhou Fusion New Material Co. Ltd. A has a Quality Score of 45/100. 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 Changzhou Fusion New Material Co. Ltd. A (688503)?
Our model-based price target is the fair value of ¥48.55 (as of Nov 7, 2026) from 16 valuation models. Cautious scenario ¥36.37, optimistic scenario ¥60.69. It is a calculation from audited fundamentals, not an analyst target.
What is the Changzhou Fusion New Material Co. Ltd. A stock forecast for 2026?
Our models put fair value at ¥48.55, about +0% upside versus a price of ¥48.36 (fairly valued). Cautious scenario ¥36.37, optimistic scenario ¥60.69. The calculation is refreshed regularly with new filings.
What is the revenue of Changzhou Fusion New Material Co. Ltd. A (688503)?
Changzhou Fusion New Material Co. Ltd. A reported trailing-twelve-month revenue of about 18.8B CNY (latest available figure, as of Nov 7, 2026).
Does Changzhou Fusion New Material Co. Ltd. A pay a dividend?
Changzhou Fusion New Material Co. Ltd. A currently shows a dividend yield of 0.89% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Changzhou Fusion New Material Co. Ltd. A (688503) and when is the ex-dividend date?
Changzhou Fusion New Material Co. Ltd. A pays a dividend of ¥0.432 per share a year, a dividend yield of 0.9%. The last ex-dividend date was Jun 18, 2026. The payout ratio is 64.5% of earnings. Our assessment: Token dividend. At a yield of 0.9% the dividend is symbolic. On paper it is not fully covered by earnings or free cash flow, but at this size that hardly matters: even scrapping it entirely would cost less than 0.9% a year, and coverage ratios on amounts this small swing with ordinary working-capital movements. Judge this company on its business, not on its dividend.
What is the intrinsic value of Changzhou Fusion New Material Co. Ltd. A (688503)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Changzhou Fusion New Material Co. Ltd. A it is ¥48.55 per share (as of Nov 7, 2026), against a price of ¥48.36. It is the blended result of 16 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Changzhou Fusion New Material Co. Ltd. A stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 688503 trades below its calculated fair value: price ¥48.36, fair value ¥48.55, a gap of about +0% (fairly valued). 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 688503?
No. The price is what the market pays today (¥48.36); the fair value is what the company's own numbers justify (¥48.55). For Changzhou Fusion New Material Co. Ltd. A the two are ¥0.1900 per share apart. That gap is exactly why we show both numbers side by side.
How much is Changzhou Fusion New Material Co. Ltd. A worth?
The market values Changzhou Fusion New Material Co. Ltd. A at about 11.7B CNY (market capitalisation, as of Nov 7, 2026). Per share that is ¥48.36; our models calculate a fair value of ¥48.55 per share.
What do the bullish and bearish scenarios say about 688503?
Our models span a range for Changzhou Fusion New Material Co. Ltd. A: cautious scenario ¥36.37, base ¥48.55, optimistic ¥60.69 per share (as of Nov 7, 2026, price ¥48.36). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 688503?
Changzhou Fusion New Material Co. Ltd. A trades at a price-to-earnings ratio of 72.2 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥48.55 is built from several models across several years. Other multiples: P/B 2.3, P/S 0.6, EV/EBITDA 17.6.
How solid is the balance sheet of Changzhou Fusion New Material Co. Ltd. A (688503)?
Balance-sheet figures for Changzhou Fusion New Material Co. Ltd. A (as of Nov 7, 2026): return on equity 3.1%. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is 688503 from its 52-week high?
Changzhou Fusion New Material Co. Ltd. A trades at ¥48.36, about 64% below its 52-week high of ¥132.70 and 18% above the low of ¥41.08 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ¥48.55 is for.
Which stocks are comparable to Changzhou Fusion New Material Co. Ltd. A?
From the same area (Technology) we also value First Solar, Inc, Nextpower Inc, Tongwei Co, Waaree Energies Limited, 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 Changzhou Fusion New Material Co. Ltd. A stock attractive at the current price?
The data as of Nov 7, 2026: price ¥48.36, calculated fair value ¥48.55 (+0%), Quality Score 45/100, 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 688503 calculated?
We run Changzhou Fusion New Material Co. Ltd. A 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 ¥48.55 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 13.0% above its aggregate fair value. Changzhou Fusion New Material Co. Ltd. A 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 Changzhou Fusion New Material Co. Ltd. A (688503)?
The closing price on Nov 6, 2026 was ¥48.36. Our model-based fair value is ¥48.55, about +0% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Changzhou Fusion New Material Co. Ltd. A right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.

Key figures of Changzhou Fusion New Material Co. Ltd. A

How large is the market capitalisation of Changzhou Fusion New Material Co. Ltd. A (688503)?
The market capitalisation of Changzhou Fusion New Material Co. Ltd. A is 11.7B CNY (≈ $1.8B). 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 Changzhou Fusion New Material Co. Ltd. A (688503)?
The price-to-sales ratio of Changzhou Fusion New Material Co. Ltd. A is 0.62 (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 Changzhou Fusion New Material Co. Ltd. A (688503)?
Earnings per share at Changzhou Fusion New Material Co. Ltd. A are ¥0.6700 (price ÷ EPS = P/E 72.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Changzhou Fusion New Material Co. Ltd. A (688503)?
The dividend yield of Changzhou Fusion New Material Co. Ltd. A is 0.9% (payout 64.5%). 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 Changzhou Fusion New Material Co. Ltd. A (688503)?
The net margin of Changzhou Fusion New Material Co. Ltd. A is 0.8% (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 Changzhou Fusion New Material Co. Ltd. A (688503)?
The return on equity (ROE) of Changzhou Fusion New Material Co. Ltd. A is 3.1% (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 Changzhou Fusion New Material Co. Ltd. A (688503)?
On an EBIT basis the return on assets of Changzhou Fusion New Material Co. Ltd. A is 8.3% (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 Changzhou Fusion New Material Co. Ltd. A (688503)?
The operating margin of Changzhou Fusion New Material Co. Ltd. A is −4.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Changzhou Fusion New Material Co. Ltd. A (688503)?
Revenue at Changzhou Fusion New Material Co. Ltd. A is growing +44.9% versus a year earlier (3y avg +30.9%). 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 Changzhou Fusion New Material Co. Ltd. A (688503)?
Earnings per share at Changzhou Fusion New Material Co. Ltd. A are growing +192% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Changzhou Fusion New Material Co. Ltd. A (688503) generate?
The free cash flow of Changzhou Fusion New Material Co. Ltd. A is −3.3B 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 debt does Changzhou Fusion New Material Co. Ltd. A (688503) carry?
The net debt of Changzhou Fusion New Material Co. Ltd. A is 4.2B CNY (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed

Watch Changzhou Fusion New Material Co. Ltd. A in the live analysis

One click puts Changzhou Fusion New Material Co. Ltd. A on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.

Watch for free →

Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.