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Ningbo Kangqiang Electronics Co (002119) Fair Value & Analysis

Technology · CN · Market cap 12.7B CNY

NK Ningbo Kangqiang Electronics Co 002119 · SHE
Price¥24.04
Fair Value¥5.48
Upside-77.2%
Quality54/100
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Expensive Growth
Thin margins · 4.8% net margin
Low debt · generates free cash flow
0.13% dividend yield
Trails peers (5/15)
Narrow moat 36/100
Evidence: High Range ¥3.16 – ¥7.76 Share as image

Fair value as of: Jul 22, 2026

From 26 valuation models · updated 19 days ago

Share price −31.3% over the past month.

A solid business, but screening 77% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥7.76). The favourable scenario is already priced in.
  • Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (¥3.16 to ¥7.76) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥39.92 ¥8.34 Fair Value ¥5.48 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.

How to read this chart

60‑month range ¥8.34 – ¥39.92 · fair‑value band ¥3.16 – ¥7.76 · the ¥24.04 price screens above the ¥5.48 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 22, 2026.

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Analysis

Ningbo Kangqiang Electronics Co (002119) currently trades at ¥24.04, while our model-based Fair Value estimate is ¥5.48, implying the stock looks roughly 77.2% overvalued today. The Quality Score stands at 54/100 (solid quality), in the Technology 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, Ningbo Kangqiang Electronics Co generated revenue of 2.4B CNY at a net margin of 4.8%. Revenue grew 49.3% year over year. It earns a return on equity of 8.3%. Net debt stands at 494M CNY. Fundamentals as of Jul 22, 2026

Our scenario range runs from ¥3.16 (bear case) to ¥7.76 (bull case); at ¥24.04, 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 30% below its 52-week high and 57% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -67% fair-value upside, at -77%, 002119 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 ¥0.8800 ¥1.37 ¥2.14 80
Residual Income ¥3.08 ¥3.33 ¥4.21 76
Rev-Margin DCF ¥2.89 ¥5.21 ¥7.97 74
All 26 models by family
DCF Models
FCF DCF ¥0.8800 ¥1.37 ¥2.16 38
Owner Earnings ¥5.02 ¥8.19 ¥13.24 31
5Y Revenue Exit ¥2.89 ¥5.29 ¥8.50 39
5Y EBITDA Exit ¥4.33 ¥8.08 ¥12.65 41
5Y P/E Exit ¥3.14 ¥5.78 ¥8.67 38
10Y Revenue Exit ¥2.04 ¥4.08 ¥7.07 36
10Y EBITDA Exit ¥3.10 ¥6.05 ¥10.34 37
10Y P/E Exit ¥2.33 ¥4.43 ¥7.21 35
Earnings-Based
Graham-Dodd ¥2.11 ¥7.71 ¥10.40 54
Lynch FV ¥1.84 ¥2.62 ¥3.41 50
PEG = 1.0 ¥1.84 ¥2.62 ¥3.41 46
EPV ¥3.83 ¥4.45 ¥4.99 59
Dividend Discount
Gordon GGM ¥0.6100 ¥1.26 ¥2.00 70
DDM Multi-Stage ¥0.6100 ¥1.07 ¥1.33 61
Multiples
P/E Multiple ¥4.66 ¥6.21 ¥7.76 63
P/S Multiple ¥3.96 ¥5.28 ¥6.60 58
P/B Multiple ¥3.96 ¥5.28 ¥6.60 55
EV/EBIT ¥5.97 ¥7.92 ¥9.87 53
EV/EBITDA ¥6.75 ¥8.97 ¥11.18 54
EV/Revenue ¥4.06 ¥5.75 ¥7.44 43
Asset-Based
NCAV (Graham) ¥1.83 ¥2.45 ¥3.66 50
Growth DCF
Growth DCF ¥0.8800 ¥1.37 ¥2.14 80
Rev-Margin DCF ¥2.89 ¥5.21 ¥7.97 74
Economic Profit
Residual Income ¥3.08 ¥3.33 ¥4.21 76
ROIC Compounder ¥3.89 ¥5.04 ¥6.63 72
Growth Earnings
Growth-Adj P/E ¥3.35 ¥4.79 ¥6.23 68

Widest divergence: Multiples (¥5.75) versus Dividend Discount (¥1.07). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 2.4B CNY
Revenue growth (YoY) +49.3%
Net margin 4.8%
Return on equity 8.3%
Free cash flow 24.4M CNY FY2025
P/E ratio 108.9
More key figures
Operating margin 6.9%
EPS (TTM) ¥0.3100
Dividend yield 0.1%
Net debt 494M CNY FY2025

Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 54/100

Of which business quality 52 · Market factors (momentum, volatility) 63

Profitability 38
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 14
Earnings quality: real cash, not paper profit
Fin. Strength 66
Balance sheet, leverage, solvency risk
Investment 74
Disciplined investing over empire-building
Low Volatility 44
Calm price path (market factor)
Momentum 76
Price trend over the last 3–12 months (market factor)
52W Momentum 64
Distance to the 52-week high (market factor)
Net Issuance 87
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

Ningbo Kangqiang Electronics Co., Ltd, together with its subsidiaries, engages in the development, production, and sale of semiconductor packaging materials in China. It offers stamping frameworks, etching frames, bonding wires, and LED frameworks, as well as wire electrodes, multi-station integrated circuit frame progressive molds, and lead frames.

Full company description

Ningbo Kangqiang Electronics Co., Ltd, together with its subsidiaries, engages in the development, production, and sale of semiconductor packaging materials in China. It offers stamping frameworks, etching frames, bonding wires, and LED frameworks, as well as wire electrodes, multi-station integrated circuit frame progressive molds, and lead frames. The company was founded in 1992 and is based in Ningbo, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Ningbo Kangqiang Electronics Co reported revenue of ¥2.2B in FY2025 versus ¥2.2B in FY2021, a compound +0.1%/yr. Reported net income was ¥116M in FY2025, compounding −10.5%/yr from FY2021.

Growth Quality 54/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
2.2B CNY
Latest YoY
+12.0%
Avg. growth/yr (3Y)
+8.9%
Avg. growth/yr (5Y)
+7.3%
Avg. growth/yr (22Y)
+12.0%
Revenue +0.1%/yr
FY21 ¥2.2B
FY22 ¥1.7B
FY23 ¥1.8B
FY24 ¥2.0B
FY25 ¥2.2B
Net income −10.5%/yr
FY21 ¥181M
FY22 ¥102M
FY23 ¥80.6M
FY24 ¥83.2M
FY25 ¥116M

002119 screens 77% overvalued. Compare with NVIDIA Corporation →

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Cite: Fair Value Calculator (2026). "Ningbo Kangqiang Electronics Co Fair Value". https://www.fairvalue-calculator.com/stock/002119

Peer Group

Semiconductors · 319 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 54 · Below median
Fair Value upside −77% · Bottom 25%
Return on equity (TTM) 8% · Above median
Return on assets 4% · Above median
Net margin (TTM) 5% · Below median
Operating margin (TTM) 7% · Below median
Revenue growth 49% · Top 25%
Dividend yield (TTM) 0.1% · Bottom 25%
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Semiconductors median · lower = cheaper

P/E (TTM) 108.9× · Pricier than 75% of peers
P/B 9.23× · Pricier than 75% of peers
P/S (TTM) 5.24× · Pricier than median
P/FCF 77.1× · Pricier than 75% of peers
EV/EBITDA 52.5× · Pricier than 75% of peers
PEG 1.00× · 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 100 · sector 60
PAST 33 · sector 24
HEALTH 98 · sector 97
DIVIDEND 3 · sector 22

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 Semiconductors stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
NVIDIA Corporation NVDA $211.80 $96.91 -54%
Taiwan Semiconductor Manufacturing Company TSM $398.37 $207.49 -48%
Broadcom Inc 1AVGO €367.75 €121.25 -67%
Micron Technology, Inc ZMIC C$52.57 C$7.50 -86%
SK hynix Inc 000660 2,082,000 KRW 1,109,311 KRW -47%
Advanced Micro Devices, Inc 1AMD €425.20 €56.33 -87%
Intel Corporation INTC C$68.40 C$9.82 -86%
Texas Instruments Incorporated TXN $311.46 $59.75 -81%
MediaTek Inc 2454 3,740 TWD 1,163 TWD -69%
SK Square Co 402340 1,212,000 KRW 868,000 KRW -28%

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Frequently asked questions

Is Ningbo Kangqiang Electronics Co (002119) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of ¥5.48 versus a price of ¥24.04, about −77% (overvalued).
What is the fair value of 002119?
Our model-based fair value for Ningbo Kangqiang Electronics Co is ¥5.48 (as of Jul 22, 2026), built from audited fundamentals. The current price is ¥24.04.
What is the quality score of 002119?
Ningbo Kangqiang Electronics Co has a Quality Score of 54/100. 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 Ningbo Kangqiang Electronics Co (002119)?
Ningbo Kangqiang Electronics Co reported trailing-twelve-month revenue of about 2.4B CNY (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 002119?
The net profit margin of Ningbo Kangqiang Electronics Co is about 4.8%, meaning it keeps roughly 4.8% of revenue as net income. Based on the latest reported figures.
Does Ningbo Kangqiang Electronics Co pay a dividend?
Ningbo Kangqiang Electronics Co currently shows a dividend yield of about 0.13% relative to its recent price (as of Jul 22, 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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