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San Bian Science & Technology Co Ltd (002112) Fair Value & Analysis

Technology · CN · Market cap 5.1B CNY (≈ $765M) · ISIN CNE000001QX2

What is San Bian Science & Technology Co Ltd really worth?

SB San Bian Science & Technology Co Ltd 002112 · SHE
Price¥15.52
Fair Value¥8.32
Upside−46.4%
Quality32/100

Below-average quality, and trading another 87% above our fair value of ¥8.32.

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Strengths

Low debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +13.1 %/yr)
!Thin margins · 0.8% net margin
!Trails peers (3/14)
!Narrow moat 29/100
!Weak on past: 8 out of 100
!Weak on dividend: 15 out of 100
Evidence: High Range ¥5.03 – ¥9.46

Fair value as of: Sep 5, 2026

From 24 valuation models · updated today

Fair value updated Sep 5, 2026, revised from ¥1.24 to ¥8.32 (+571.0%) since Aug 13, 2026. Share price −10.9% over the past month.

What runs behind every stock

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

What matters now

  • The price sits above even our optimistic bull case (¥9.46). The favourable scenario is already priced in.
  • Weak quality (32/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (¥5.03 to ¥9.46) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

¥27.63 ¥4.60 Fair Value ¥8.32 Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.

How to read this chart

60‑month range ¥4.60 – ¥27.63 · fair‑value band ¥5.03 – ¥9.46 · the ¥15.52 price screens above the ¥8.32 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 5, 2026.

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Analysis

San Bian Science & Technology Co Ltd (002112) currently trades at ¥15.52, while our model-based Fair Value estimate is ¥8.32, implying the stock looks roughly 86.5% overvalued today. The Quality Score stands at 32/100 (below-average quality), in the Technology sector. Bull case: the DCF Models group reads highest at a median of ¥2.37 per share, and 0 of the 24 models we run sit above the ¥15.52 price. Bear case: the Multiples group reads lowest at ¥0.9900, and 24 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, San Bian Science & Technology Co Ltd generated revenue of 2.1B CNY at a net margin of 0.8%. Revenue grew 91.2% year over year. It earns a return on equity of 2.1%. Net debt stands at 178M CNY. Fundamentals as of Sep 5, 2026

Our scenario range runs from ¥5.03 (bear case) to ¥9.46 (bull case); at ¥15.52, 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 46% below its 52-week high and 32% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at −62% fair-value upside, at −46%, 002112 screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly ¥0.0340 per share, which is 0.4 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (¥0.4300 to ¥3.67). Read the values as a conservative anchor, not as a price target.
Model 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. Evidence
Highest evidence
FCF DCF ¥1.69 ¥2.37 ¥3.44 80
Growth DCF ¥1.69 ¥2.34 ¥3.33 79
Owner Earnings ¥0.8500 ¥1.00 ¥1.24 78
All 24 models by family
DCF Models
FCF DCF ¥1.69 ¥2.37 ¥3.44 80
Owner Earnings ¥0.8500 ¥1.00 ¥1.24 78
5Y Revenue Exit ¥1.90 ¥2.82 ¥4.05 72
5Y EBITDA Exit ¥2.33 ¥3.67 ¥5.30 75
5Y P/E Exit ¥1.43 ¥1.91 ¥2.42 72
10Y Revenue Exit ¥1.77 ¥2.59 ¥3.79 66
10Y EBITDA Exit ¥2.08 ¥3.18 ¥4.77 68
10Y P/E Exit ¥1.51 ¥1.96 ¥2.53 65
Earnings-Based
Graham-Dodd ¥0.3200 ¥1.24 ¥1.67 64
Lynch FV ¥0.3000 ¥0.4300 ¥0.5600 61
PEG = 1.0 ¥0.3000 ¥0.4300 ¥0.5600 57
EPV ¥1.91 ¥2.11 ¥2.29 74
Multiples
P/E Multiple ¥0.7500 ¥0.9900 ¥1.24 63
P/S Multiple ¥0.6000 ¥0.8100 ¥1.01 58
P/B Multiple ¥0.6000 ¥0.8100 ¥1.01 55
EV/EBIT ¥2.63 ¥3.30 ¥3.97 66
EV/EBITDA ¥2.89 ¥3.65 ¥4.41 67
EV/Revenue ¥2.05 ¥2.67 ¥3.28 54
Asset-Based
NCAV (Graham) ¥1.44 ¥1.92 ¥2.87 54
Growth DCF
Growth DCF ¥1.69 ¥2.34 ¥3.33 79
Rev-Margin DCF ¥1.90 ¥2.80 ¥3.91 73
Economic Profit
Residual Income ¥1.97 ¥1.84 ¥1.38 76
ROIC Compounder ¥1.91 ¥2.11 ¥2.29 72
Growth Earnings
Growth-Adj P/E ¥0.5500 ¥0.7800 ¥1.01 68

Widest divergence: DCF Models (¥2.37) versus Earnings-Based (¥0.4300). Highest evidence: FCF DCF (80).

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Key figures & financial health

P/E ratio 310.4
P/S ratio 2.31 P/E × margin
EPS (TTM) ¥0.0500 price ÷ EPS = P/E 310.4
Dividend yield 0.7%
Net margin 0.7% FY2025
Return on equity 2.1% TTM
More key figures
Profitability
Return on assets (EBIT) 3.1% avg 5y
Operating margin 9.2% TTM
Growth
Revenue (TTM) 2.1B CNY TTM
Revenue growth (YoY) +91.2% 3y avg +12.8%
Balance sheet & cash flow
Free cash flow 27.6M CNY FY2025
Net debt 178M CNY FY2025 · ≈ 6.4 yrs of FCF

Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 32/100

Of which business quality 35 · Market factors (momentum, volatility) 37

Profitability 26
Margins and returns on capital today
Quality Growth 20
Are margins and returns improving?
Cashflow 42
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 40
Disciplined investing over empire-building
Low Volatility 47
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 38
Distance to the 52-week high (market factor)
Net Issuance 25
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Sanbian Sci Tech Co., Ltd. engages in the production, repair, maintenance, and sale of transformers, motors, reactors, low-voltage complete electrical equipment, and power transmission and transformation equipment in China and internationally.

Full company description

Sanbian Sci Tech Co., Ltd. engages in the production, repair, maintenance, and sale of transformers, motors, reactors, low-voltage complete electrical equipment, and power transmission and transformation equipment in China and internationally. It provides power transformers, distribution transformers, dry-type transformers, new energy transformers, user substations, and high voltage and low voltage switchgear products. Sanbian Sci Tech Co., Ltd. was formerly known as SAN BIAN SCIENCE& TECHNOLOGY Co., LTD. and changed its name to Sanbian Sci Tech Co., Ltd. in May 2024. Sanbian Sci Tech Co., Ltd. was founded in 1968 and is based in Taizhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

San Bian Science & Technology Co Ltd reported revenue of 1.9B CNY in FY2025 versus 1.0B CNY in FY2021, a compound +16.0%/yr. Reported net income was 13.9M CNY in FY2025, compounding −6.9%/yr from FY2021.

Growth Quality 77/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
1.9B CNY
Latest YoY
−14.0%
Avg. revenue growth/yr (3Y) 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.
+12.8%
Avg. revenue growth/yr (5Y) 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.
+13.1%
Avg. revenue growth/yr (22Y) 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.
+7.5%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
−6.6% (−7.3 + 0.7)
Revenue +16.0%/yr
FY21 1.0B CNY
FY22 1.3B CNY
FY23 1.7B CNY
FY24 2.2B CNY
FY25 1.9B CNY
Net income −6.9%/yr
FY21 18.6M CNY
FY22 42.7M CNY
FY23 89.4M CNY
FY24 121M CNY
FY25 13.9M CNY

002112 screens 87% overvalued. Compare with Amphenol Corporation →

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Cite: Fair Value Calculator (2026). "San Bian Science & Technology Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/002112

Peer Group

Electronic Components · 639 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 32 · Bottom 25%
Fair Value upside −46% · Below median
Return on equity (TTM) 2% · Below median
Return on assets 2% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 9% · Above median
Revenue growth 91% · Top 25%
Dividend yield (TTM) 0.7% · Below median
Debt / equity 0.09× · Lower than median

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 310.4× · Pricier than 75% of peers
P/B 6.06× · Pricier than 75% of peers
P/S (TTM) 2.42× · Pricier than median
P/FCF 27.7× · Pricier than 75% of peers
EV/EBITDA 67.1× · Pricier than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE100 · sector 40
PAST8 · sector 25
HEALTH96 · sector 95
DIVIDEND15 · sector 24

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

Similar stocks

10 more Electronic Components stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).

Stock Price Fair Value vs Fair Value
Amphenol Corporation APH $157.74 $97.19 −38%
Corning Incorporated GLW CHF 134.64 CHF 35.18 −74%
Delta Electronics, Inc 2308 1,750 TWD 602.37 TWD −66%
Luxshare Precision Industry Co 002475 ¥56.06 ¥38.44 −31%
Samsung Electro-Mechanics Co 009150 1,503,000 KRW 172,954 KRW −88%
Suzhou Dongshan Precision Manufacturing Co 002384 ¥202.11 ¥21.19 −90%
TE Connectivity plc TEL $202.66 $144.42 −29%
Shengyi Technology Co 600183 ¥132.80 ¥36.30 −73%
Flex Ltd FLEX $124.53 $48.10 −61%
Celestica Inc CLS $298.70 $113.54 −62%

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Frequently asked questions

Is San Bian Science & Technology Co Ltd (002112) overvalued or undervalued?
As of Sep 5, 2026, our model estimates a fair value of ¥8.32 versus a price of ¥15.52, about −46% upside (overvalued).
What is the fair value of 002112?
Our model-based fair value for San Bian Science & Technology Co Ltd is ¥8.32 (as of Sep 5, 2026), built from audited fundamentals. The current price: ¥15.52.
What is the quality score of 002112?
San Bian Science & Technology Co Ltd has a Quality Score of 32/100. 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 San Bian Science & Technology Co Ltd (002112)?
San Bian Science & Technology Co Ltd reported trailing-twelve-month revenue of about 2.1B CNY (latest available figure, as of Sep 5, 2026).
What is the net profit margin of 002112?
The net profit margin of San Bian Science & Technology Co Ltd is about 0.8%, meaning it keeps roughly 0.8% of revenue as net income. Based on the latest reported figures.
Does San Bian Science & Technology Co Ltd pay a dividend?
San Bian Science & Technology Co Ltd currently shows a dividend yield of about 0.73% relative to its recent price (as of Sep 5, 2026).
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