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Beijing Join-Cheer Software Co (002279) Fair Value & Analysis

Technology · CN · Market cap 5.9B CNY

BJ Beijing Join-Cheer Software Co 002279 · SHE
Price¥6.83
Fair Value¥1.21
Upside-82.3%
Quality60/100
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Weak Growth
Thin margins · 3.0% net margin
Moderate debt · generates free cash flow
Trails peers (4/13)
Narrow moat 26/100
Evidence: High Range ¥0.7800 – ¥1.30 Share as image

Fair value as of: Jul 22, 2026

From 24 valuation models · updated 19 days ago

Share price +24.9% over the past month.

A solid business, but screening 82% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥1.30). The favourable scenario is already priced in.
  • Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥10.82 ¥3.75 Fair Value ¥1.21 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 ¥3.75 – ¥10.82 · fair‑value band ¥0.7800 – ¥1.30 · the ¥6.83 price screens above the ¥1.21 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

Beijing Join-Cheer Software Co (002279) currently trades at ¥6.83, while our model-based Fair Value estimate is ¥1.21, implying the stock looks roughly 82.3% overvalued today. The Quality Score stands at 60/100 (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, Beijing Join-Cheer Software Co generated revenue of 2.5B CNY at a net margin of 3.0%. Revenue declined 18.3% year over year. It earns a return on equity of 5.1%. The balance sheet holds a net cash position of 423M CNY. Fundamentals as of Jul 22, 2026

Our scenario range runs from ¥0.7800 (bear case) to ¥1.30 (bull case); at ¥6.83, 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 40% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at -82%, 002279 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 ¥0.7000 ¥1.64 ¥3.06 80
Residual Income ¥1.22 ¥1.16 ¥0.9500 76
Rev-Margin DCF ¥0.3900 ¥0.8800 ¥1.56 74
All 24 models by family
DCF Models
FCF DCF ¥0.7300 ¥1.54 ¥3.52 38
Owner Earnings ¥0.4400 ¥1.15 ¥2.47 31
5Y Revenue Exit ¥0.3900 ¥0.8900 ¥1.59 39
5Y EBITDA Exit ¥0.6900 ¥1.56 ¥2.70 41
5Y P/E Exit ¥0.5500 ¥1.25 ¥2.09 38
10Y Revenue Exit ¥0.4800 ¥1.01 ¥1.87 36
10Y EBITDA Exit ¥0.6900 ¥1.51 ¥2.85 37
10Y P/E Exit ¥0.6000 ¥1.27 ¥2.31 35
Earnings-Based
Graham-Dodd ¥0.3500 ¥2.08 ¥2.89 54
Lynch FV ¥0.5900 ¥0.8400 ¥1.09 50
PEG = 1.0 ¥0.5900 ¥0.8400 ¥1.09 46
EPV ¥0.1800 ¥0.2500 ¥0.3100 59
Multiples
P/E Multiple ¥0.7800 ¥1.04 ¥1.30 63
P/S Multiple ¥0.6600 ¥0.8800 ¥1.10 58
P/B Multiple ¥0.6600 ¥0.8800 ¥1.10 55
EV/EBIT ¥0.4700 ¥0.7100 ¥0.9600 53
EV/EBITDA ¥0.7200 ¥1.05 ¥1.38 54
EV/Revenue ¥0.2300 ¥0.4400 ¥0.6500 43
Asset-Based
NCAV (Graham) ¥0.8600 ¥1.15 ¥1.72 50
Growth DCF
Growth DCF ¥0.7000 ¥1.64 ¥3.06 80
Rev-Margin DCF ¥0.3900 ¥0.8800 ¥1.56 74
Economic Profit
Residual Income ¥1.22 ¥1.16 ¥0.9500 76
ROIC Compounder ¥0.1800 ¥0.2500 ¥0.3100 72
Growth Earnings
Growth-Adj P/E ¥0.8400 ¥1.21 ¥1.57 68

Widest divergence: DCF Models (¥1.25) versus Economic Profit (¥0.2500). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 2.5B CNY
Revenue growth (YoY) -18.3%
Net margin 3.0%
Return on equity 5.1%
Free cash flow 63.7M CNY FY2025
P/E ratio 75.6
More key figures
Operating margin -39.1%
EPS (TTM) ¥0.0900
EPS growth (YoY) +7.2%
Net cash 423M CNY FY2024

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

Quality Score breakdown

Overall quality 60/100

Of which business quality 61 · Market factors (momentum, volatility) 35

Profitability 45
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 49
Earnings quality: real cash, not paper profit
Fin. Strength 86
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 60
Calm price path (market factor)
Momentum 22
Price trend over the last 3–12 months (market factor)
52W Momentum 28
Distance to the 52-week high (market factor)
Net Issuance 52
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

Beijing Join-Cheer Software Co., Ltd. provides management software and digital communication in China. The company provides government management services, enterprise group management and control, smart transportation, education, digital communication, government big data, enterprise big data, and internal control.

Full company description

Beijing Join-Cheer Software Co., Ltd. provides management software and digital communication in China. The company provides government management services, enterprise group management and control, smart transportation, education, digital communication, government big data, enterprise big data, and internal control. It serves e-government, group management, and digital communication sectors, as well as state organs, enterprises, institutions, and social groups. Beijing Join-Cheer Software Co., Ltd. was founded in 1997 and is based in Beijing, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Beijing Join-Cheer Software Co reported revenue of ¥2.6B in FY2025 versus ¥2.7B in FY2021, a compound −1.1%/yr. Reported net income was ¥44.7M in FY2025.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
2.6B CNY
Latest YoY
−35.9%
Avg. growth/yr (3Y)
−3.7%
Avg. growth/yr (5Y)
−1.7%
Avg. growth/yr (20Y)
+21.8%
Revenue −1.1%/yr
FY21 ¥2.7B
FY22 ¥2.9B
FY23 ¥3.4B
FY24 ¥4.0B
FY25 ¥2.6B
Net income
FY21 −¥132M
FY22 ¥51.9M
FY23 −¥142M
FY24 −¥156M
FY25 ¥44.7M

002279 screens 82% overvalued. Compare with SAP SE →

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Cite: Fair Value Calculator (2026). "Beijing Join-Cheer Software Co Fair Value". https://www.fairvalue-calculator.com/stock/002279

Peer Group

Software - Application · 709 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 60 · Above median
Fair Value upside −82% · Bottom 25%
Return on equity (TTM) 5% · Above median
Return on assets 2% · Above median
Net margin (TTM) 3% · Above median
Operating margin (TTM) -39% · Bottom 25%
Revenue growth -18% · Bottom 25%
Debt / equity 0.50× · Higher than 75% of peers

Valuation Multiples vs Software - Application median · lower = cheaper

P/E (TTM) 75.6× · Pricier than 75% of peers
P/B 3.96× · Pricier than median
P/S (TTM) 2.32× · Pricier than median
P/FCF 13.7× · Pricier than median
EV/EBITDA 90.7× · Pricier than 75% of peers

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 0 · sector 38
PAST 20 · sector 13
HEALTH 75 · sector 98
DIVIDEND 0 · sector 28

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

Stock Price Fair Value vs Fair Value
SAP SE SAPS C$12.69 C$16.26 +28%
Shopify Inc SHOP C$173.23 C$20.54 -88%
Uber Technologies, Inc UBER $72.67 $51.11 -30%
Salesforce, Inc CRM $170.77 $182.10 +7%
ServiceNow, Inc NOW $107.71 $33.12 -69%
Cadence Design Systems, Inc CDNS $384.17 $80.41 -79%
Snowflake Inc SNOW $271.87 $34.04 -87%
Adobe Inc ADBE $230.61 $379.48 +65%
Automatic Data Processing, Inc ADP $241.92 $177.51 -27%
Intuit Inc INTU $291.09 $258.69 -11%

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Frequently asked questions

Is Beijing Join-Cheer Software Co (002279) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of ¥1.21 versus a price of ¥6.83, about −82% (overvalued).
What is the fair value of 002279?
Our model-based fair value for Beijing Join-Cheer Software Co is ¥1.21 (as of Jul 22, 2026), built from audited fundamentals. The current price is ¥6.83.
What is the quality score of 002279?
Beijing Join-Cheer Software Co has a Quality Score of 60/100. 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 Beijing Join-Cheer Software Co (002279)?
Beijing Join-Cheer Software Co reported trailing-twelve-month revenue of about 2.5B CNY (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 002279?
The net profit margin of Beijing Join-Cheer Software Co is about 3.0%, meaning it keeps roughly 3.0% of revenue as net income. Based on the latest reported figures.

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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