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Shenzhen Desay Battery Technology Co (000049) Fair Value & Analysis

Industrials · CN · Market cap 9.0B CNY

SD Shenzhen Desay Battery Technology Co 000049 · SHE
Price¥24.66
Fair Value¥14.29
Upside-42.1%
Quality43/100
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Healthy Growth
Thin margins · 1.4% net margin
Low debt · generates free cash flow
1.01% dividend yield
Mixed vs. peers (7/14)
Narrow moat 23/100
Evidence: High Range ¥10.48 – ¥19.23 Share as image

Fair value as of: Jul 21, 2026

From 25 valuation models · updated 20 days ago

Fair value updated Jul 21, 2026, revised from ¥15.96 to ¥14.29 (−10.5%) since Jun 25, 2026. Share price +0.2% over the past month.

Below-average quality, and screening another 42% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥19.23). The favourable scenario is already priced in.
  • Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (¥10.48 to ¥19.23) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥54.77 ¥16.94 Fair Value ¥14.29 Jan 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.

How to read this chart

60‑month range ¥16.94 – ¥54.77 · fair‑value band ¥10.48 – ¥19.23 · the ¥24.66 price screens above the ¥14.29 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Shenzhen Desay Battery Technology Co (000049) currently trades at ¥24.66, while our model-based Fair Value estimate is ¥14.29, implying the stock looks roughly 42.1% overvalued today. The Quality Score stands at 43/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Shenzhen Desay Battery Technology Co generated revenue of 23.0B CNY at a net margin of 1.4%. Revenue grew 14.6% year over year. It earns a return on equity of 4.0%. Net debt stands at 2.1B CNY. Fundamentals as of Jul 21, 2026

Our scenario range runs from ¥10.48 (bear case) to ¥19.23 (bull case); at ¥24.66, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 21% below its 52-week high and 18% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -42%, 000049 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF ¥7.62 ¥14.66 ¥28.45 80
Residual Income ¥13.10 ¥13.19 ¥12.14 76
Rev-Margin DCF ¥9.68 ¥21.73 ¥42.07 74
All 25 models by family
DCF Models
FCF DCF ¥8.19 ¥13.26 ¥29.09 38
5Y Revenue Exit ¥9.68 ¥18.86 ¥37.82 39
5Y EBITDA Exit ¥20.95 ¥41.99 ¥82.73 41
5Y P/E Exit ¥10.15 ¥24.33 ¥43.49 38
10Y Revenue Exit ¥8.85 ¥22.41 ¥33.17 36
10Y EBITDA Exit ¥17.27 ¥45.42 ¥99.42 37
10Y P/E Exit ¥9.63 ¥23.36 ¥47.51 35
Earnings-Based
Graham-Dodd ¥5.17 ¥36.03 ¥50.57 54
Lynch FV ¥12.70 ¥18.14 ¥23.58 50
PEG = 1.0 ¥12.70 ¥18.14 ¥23.58 46
EPV ¥7.83 ¥9.26 ¥10.50 59
Dividend Discount
Gordon GGM ¥5.85 ¥11.65 ¥17.64 70
DDM Multi-Stage ¥5.85 ¥10.07 ¥12.29 61
Multiples
P/E Multiple ¥11.97 ¥15.96 ¥19.95 63
P/S Multiple ¥9.69 ¥12.92 ¥16.15 58
P/B Multiple ¥9.69 ¥12.92 ¥16.15 55
EV/EBIT ¥13.60 ¥18.54 ¥23.47 53
EV/EBITDA ¥25.61 ¥34.55 ¥43.50 54
EV/Revenue ¥9.36 ¥13.89 ¥18.42 43
Asset-Based
NCAV (Graham) ¥8.74 ¥11.72 ¥17.49 50
Growth DCF
Growth DCF ¥7.62 ¥14.66 ¥28.45 80
Rev-Margin DCF ¥9.68 ¥21.73 ¥42.07 74
Economic Profit
Residual Income ¥13.10 ¥13.19 ¥12.14 76
ROIC Compounder ¥7.83 ¥9.26 ¥10.50 72
Growth Earnings
Growth-Adj P/E ¥16.50 ¥23.58 ¥30.65 68

Widest divergence: Growth Earnings (¥23.58) versus Economic Profit (¥9.26). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 23.0B CNY
Revenue growth (YoY) +14.6%
Net margin 1.4%
Return on equity 4.0%
Free cash flow 227M CNY FY2025
P/E ratio 27.9
More key figures
Operating margin 2.7%
EPS (TTM) ¥0.8400
Dividend yield 1.0%
EPS growth (YoY) +64.3%
Net debt 2.1B CNY FY2025

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 43/100

Of which business quality 46 · Market factors (momentum, volatility) 49

Profitability 39
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 38
Earnings quality: real cash, not paper profit
Fin. Strength 50
Balance sheet, leverage, solvency risk
Investment 48
Disciplined investing over empire-building
Low Volatility 75
Calm price path (market factor)
Momentum 35
Price trend over the last 3–12 months (market factor)
52W Momentum 42
Distance to the 52-week high (market factor)
Net Issuance 51
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Shenzhen Desay Battery Technology Co., Ltd., together with its subsidiaries, researches, designs, develops, produces, and sells lithium battery power management systems, energy storage cells, and related packaging integrated products in China and internationally.

Full company description

Shenzhen Desay Battery Technology Co., Ltd., together with its subsidiaries, researches, designs, develops, produces, and sells lithium battery power management systems, energy storage cells, and related packaging integrated products in China and internationally. It is involved in the small and medium sized lithium battery power management system, and packaging integration; system-in-package; energy storage technology service; battery leasing; and large power and energy storage batteries businesses. The company also provides small and medium-sized mobile power management systems. It serves consumer electronics and power tool manufacturers. The company was formerly known as Shenzhen Worldsun Enterprise Co., Ltd. and changed its name to Shenzhen Desay Battery Technology Co., Ltd. in June 2005. Shenzhen Desay Battery Technology Co., Ltd. was founded in 1985 and is based in Shenzhen, China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shenzhen Desay Battery Technology Co reported revenue of ¥22.4B in FY2025 versus ¥19.5B in FY2021, a compound +3.6%/yr. Reported net income was ¥292M in FY2025, compounding −22.1%/yr from FY2021.

Growth Quality 62/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
22.4B CNY
Latest YoY
+7.4%
Avg. growth/yr (3Y)
+1.0%
Avg. growth/yr (5Y)
+2.9%
Avg. growth/yr (32Y)
+25.3%
Revenue +3.6%/yr
FY21 ¥19.5B
FY22 ¥21.7B
FY23 ¥20.3B
FY24 ¥20.9B
FY25 ¥22.4B
Net income −22.1%/yr
FY21 ¥794M
FY22 ¥866M
FY23 ¥562M
FY24 ¥413M
FY25 ¥292M

000049 screens 42% overvalued. Compare with Contemporary Amperex Technology Co →

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Cite: Fair Value Calculator (2026). "Shenzhen Desay Battery Technology Co Fair Value". https://www.fairvalue-calculator.com/stock/000049

Peer Group

Electrical Equipment & Parts · 528 stocks

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.

Quality Score 43 · Below median
Fair Value upside −42% · Above median
Return on equity (TTM) 4% · Below median
Return on assets 1% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 3% · Below median
Revenue growth 15% · Above median
Dividend yield (TTM) 1.0% · Above median
Debt / equity 0.29× · Higher than 75% of peers

Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper

P/E (TTM) 27.9× · Cheaper than median
P/B 1.34× · Cheaper than median
P/S (TTM) 0.39× · Cheaper than 75% of peers
P/FCF 5.9× · Pricier than median
EV/EBITDA 12.0× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 73 · sector 57
PAST 16 · sector 26
HEALTH 85 · sector 97
DIVIDEND 20 · sector 18

VALUE 0: the price sits above our fair-value range.

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
Contemporary Amperex Technology Co 3750 HK$675.50 HK$391.44 -42%
ABB Ltd ABBN CHF 83.82 CHF 35.46 -58%
Delta Electronics (Thailand) Public Company TDED 10.16 SGD 1.47 SGD -86%
LG Energy Solution, Ltd 373220 334,000 KRW 201,455 KRW -40%
WEG S.A WEGE3 13,210 ARS 7,948 ARS -40%
Sungrow Power Supply Co 300274 ¥114.79 ¥123.83 +8%
Shenzhen Inovance Technology Co 300124 ¥63.43 ¥33.04 -48%
HD Hyundai Electric Co 267260 823,000 KRW 371,133 KRW -55%
LS ELECTRIC Co 010120 190,000 KRW 31,517 KRW -83%
Sieyuan Electric Co 002028 ¥151.73 ¥71.69 -53%

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Frequently asked questions

Is Shenzhen Desay Battery Technology Co (000049) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of ¥14.29 versus a price of ¥24.66, about −42% (overvalued).
What is the fair value of 000049?
Our model-based fair value for Shenzhen Desay Battery Technology Co is ¥14.29 (as of Jul 21, 2026), built from audited fundamentals. The current price is ¥24.66.
What is the quality score of 000049?
Shenzhen Desay Battery Technology Co has a Quality Score of 43/100. 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 revenue of Shenzhen Desay Battery Technology Co (000049)?
Shenzhen Desay Battery Technology Co reported trailing-twelve-month revenue of about 23.0B CNY (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 000049?
The net profit margin of Shenzhen Desay Battery Technology Co is about 1.4%, meaning it keeps roughly 1.4% of revenue as net income. Based on the latest reported figures.
Does Shenzhen Desay Battery Technology Co pay a dividend?
Shenzhen Desay Battery Technology Co currently shows a dividend yield of about 1.01% relative to its recent price (as of Jul 21, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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