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Advanced Technology & Materials Co (000969) Fair Value & Analysis

Basic Materials · CN · Market cap 25.6B CNY

AT Advanced Technology & Materials Co 000969 · SHE
Price¥17.45
Fair Value¥5.90
Upside-66.2%
Quality61/100
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Healthy Growth
Thin margins · 4.5% net margin
Low debt · generates free cash flow
0.82% dividend yield
Mixed vs. peers (8/15)
Narrow moat 34/100
Evidence: Medium Range ¥4.43 – ¥7.38 Share as image

Fair value as of: Jul 21, 2026

From 26 valuation models · updated 20 days ago

Fair value updated Jul 21, 2026, revised from ¥7.21 to ¥5.90 (−18.2%) since Jun 25, 2026. Share price −22.8% over the past month.

A solid business, but screening 66% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥7.38). The favourable scenario is already priced in.
  • Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥29.27 ¥5.48 Fair Value ¥5.90 Feb 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 ¥5.48 – ¥29.27 · fair‑value band ¥4.43 – ¥7.38 · the ¥17.45 price screens above the ¥5.90 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

Advanced Technology & Materials Co (000969) currently trades at ¥17.45, while our model-based Fair Value estimate is ¥5.90, implying the stock looks roughly 66.2% overvalued today. The Quality Score stands at 61/100 (solid quality), in the Basic Materials 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: medium).

Over the trailing twelve months, Advanced Technology & Materials Co generated revenue of 8.6B CNY at a net margin of 4.5%. Revenue grew 34.8% year over year. It earns a return on equity of 6.6%. The balance sheet holds a net cash position of 1.9B CNY. Fundamentals as of Jul 21, 2026

Our scenario range runs from ¥4.43 (bear case) to ¥7.38 (bull case); at ¥17.45, 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 44% below its 52-week high and 44% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -34% fair-value upside, at -66%, 000969 screens richer 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 ¥7.38 ¥10.66 ¥15.99 80
Residual Income ¥4.41 ¥4.60 ¥4.76 76
Rev-Margin DCF ¥6.51 ¥9.13 ¥12.36 74
All 26 models by family
DCF Models
FCF DCF ¥7.36 ¥10.78 ¥16.41 38
Owner Earnings ¥5.98 ¥8.45 ¥12.51 31
5Y Revenue Exit ¥6.51 ¥9.15 ¥12.62 39
5Y EBITDA Exit ¥7.30 ¥10.71 ¥14.85 41
5Y P/E Exit ¥6.74 ¥9.61 ¥12.76 38
10Y Revenue Exit ¥6.63 ¥9.19 ¥12.85 36
10Y EBITDA Exit ¥7.27 ¥10.31 ¥14.65 37
10Y P/E Exit ¥6.91 ¥9.52 ¥12.96 35
Earnings-Based
Graham-Dodd ¥2.36 ¥9.35 ¥12.69 54
Lynch FV ¥2.31 ¥3.30 ¥4.29 50
PEG = 1.0 ¥2.31 ¥3.30 ¥4.29 46
EPV ¥5.97 ¥6.56 ¥7.08 59
Dividend Discount
Gordon GGM ¥1.98 ¥4.11 ¥6.52 70
DDM Multi-Stage ¥1.98 ¥3.47 ¥4.31 61
Multiples
P/E Multiple ¥4.43 ¥5.90 ¥7.38 63
P/S Multiple ¥4.43 ¥5.90 ¥7.38 58
P/B Multiple ¥4.43 ¥5.90 ¥7.38 55
EV/EBIT ¥6.77 ¥8.22 ¥9.67 53
EV/EBITDA ¥7.76 ¥9.55 ¥11.33 54
EV/Revenue ¥6.18 ¥7.80 ¥9.42 43
Asset-Based
NCAV (Graham) ¥2.75 ¥3.69 ¥5.50 50
Growth DCF
Growth DCF ¥7.38 ¥10.66 ¥15.99 80
Rev-Margin DCF ¥6.51 ¥9.13 ¥12.36 74
Economic Profit
Residual Income ¥4.41 ¥4.60 ¥4.76 76
ROIC Compounder ¥6.14 ¥7.37 ¥9.06 72
Growth Earnings
Growth-Adj P/E ¥3.63 ¥5.19 ¥6.75 68

Widest divergence: DCF Models (¥9.52) versus Earnings-Based (¥3.30). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 8.6B CNY
Revenue growth (YoY) +34.8%
Net margin 4.5%
Return on equity 6.6%
Free cash flow 427M CNY FY2025
P/E ratio 67.7
More key figures
Operating margin 5.8%
EPS (TTM) ¥0.3600
Dividend yield 0.8%
EPS growth (YoY) +19.2%
Net cash 1.9B CNY FY2024

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

Quality Score breakdown

Overall quality 61/100

Of which business quality 61 · Market factors (momentum, volatility) 46

Profitability 33
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 52
Earnings quality: real cash, not paper profit
Fin. Strength 90
Balance sheet, leverage, solvency risk
Investment 84
Disciplined investing over empire-building
Low Volatility 48
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 52
Distance to the 52-week high (market factor)
Net Issuance 71
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

Advanced Technology & Materials Co., Ltd. engages in providing metal materials, products, and solutions in the People's Republic of China and internationally.

Full company description

Advanced Technology & Materials Co., Ltd. engages in providing metal materials, products, and solutions in the People's Republic of China and internationally. It offers rare earth permanent magnets; special alloys; amorphous and nano-crystalline materials; refractory materials; diamond tools, superhard materials; atomized alloy powders; metal injection molded products; hot isostatic pressed products; tool and die steels; welding materials; and environmental protection engineering. The company serves automobiles, electronics, automation and drives, energy, environmental protection, medical technology, aerospace and ship, railway, other applications. Advanced Technology & Materials Co., Ltd. was incorporated in 1998 and is headquartered in Beijing, the People's Republic of China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Advanced Technology & Materials Co reported revenue of ¥7.9B in FY2025 versus ¥6.3B in FY2021, a compound +5.8%/yr. Reported net income was ¥365M in FY2025, compounding +20.5%/yr from FY2021.

Growth Quality 75/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
7.9B CNY
Latest YoY
+4.7%
Avg. growth/yr (3Y)
+2.3%
Avg. growth/yr (5Y)
+9.8%
Avg. growth/yr (28Y)
+14.1%
Revenue +5.8%/yr
FY21 ¥6.3B
FY22 ¥7.4B
FY23 ¥8.2B
FY24 ¥7.6B
FY25 ¥7.9B
Net income +20.5%/yr
FY21 ¥173M
FY22 ¥211M
FY23 ¥249M
FY24 ¥372M
FY25 ¥365M

000969 screens 66% overvalued. Compare with BHP Group →

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Cite: Fair Value Calculator (2026). "Advanced Technology & Materials Co Fair Value". https://www.fairvalue-calculator.com/stock/000969

Peer Group

Other Industrial Metals & Mining · 476 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 61 · Top 25%
Fair Value upside −66% · Bottom 25%
Return on equity (TTM) 7% · Above median
Return on assets 2% · Above median
Net margin (TTM) 4% · Above median
Operating margin (TTM) 6% · Above median
Revenue growth 35% · Above median
Dividend yield (TTM) 0.8% · Below median

Valuation Multiples vs Other Industrial Metals & Mining median · lower = cheaper

P/E (TTM) 67.7× · Pricier than 75% of peers
P/B 4.43× · Pricier than 75% of peers
P/S (TTM) 3.00× · Cheaper than median
P/FCF 8.9× · Pricier than median
EV/EBITDA 31.9× · Pricier than 75% of peers
PEG 1.93× · Pricier 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 100 · sector 23
PAST 26 · sector 0
HEALTH 100 · sector 96
DIVIDEND 16 · sector 21

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 Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
BHP Group BHPN 1,425 MXN 942.42 MXN -34%
Rio Tinto Group RIO A$164.89 A$81.76 -50%
Grupo México, S.A. GMEXICOB 199.23 MXN 187.72 MXN -6%
Vale S.A VALE $14.19 $9.14 -36%
Saudi Arabian Mining Company 1211 58.05 SAR 33.87 SAR -42%
CMOC Group 603993 ¥18.20 ¥16.15 -11%
Fortescue Ltd FMG A$18.47 A$18.62 +1%
China Tungsten And Hightech Materials Co 000657 ¥74.71 ¥9.55 -87%
Hindustan Zinc Limited HINDZINC ₹521.95 ₹576.80 +11%
China Northern Rare Earth (Group) High-Tech Co 600111 ¥39.56 ¥10.59 -73%

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Frequently asked questions

Is Advanced Technology & Materials Co (000969) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of ¥5.90 versus a price of ¥17.45, about −66% (overvalued).
What is the fair value of 000969?
Our model-based fair value for Advanced Technology & Materials Co is ¥5.90 (as of Jul 21, 2026), built from audited fundamentals. The current price is ¥17.45.
What is the quality score of 000969?
Advanced Technology & Materials Co has a Quality Score of 61/100. 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 Advanced Technology & Materials Co (000969)?
Advanced Technology & Materials Co reported trailing-twelve-month revenue of about 8.6B CNY (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 000969?
The net profit margin of Advanced Technology & Materials Co is about 4.5%, meaning it keeps roughly 4.5% of revenue as net income. Based on the latest reported figures.
Does Advanced Technology & Materials Co pay a dividend?
Advanced Technology & Materials Co currently shows a dividend yield of about 0.82% 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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