Changzhou Almaden Co (002623) Fair Value & Analysis
Technology · CN · Market cap 3.5B CNY
Fair value as of: Jul 22, 2026
From 13 valuation models · updated 19 days ago
Share price −0.9% over the past month.
Below-average quality, and screening another 48% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (¥10.24). The favourable scenario is already priced in.
- Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts.
Price vs Fair Value (5 years)
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 ¥12.26 – ¥50.98 · fair‑value band ¥6.02 – ¥10.24 · the ¥15.68 price screens above the ¥8.13 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 22, 2026.
Analysis
Changzhou Almaden Co (002623) currently trades at ¥15.68, while our model-based Fair Value estimate is ¥8.13, implying the stock looks roughly 48.2% overvalued today. The Quality Score stands at 44/100 (below-average 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: medium).
Over the trailing twelve months, Changzhou Almaden Co generated revenue of 1.8B CNY at a net margin of -8.2%. Revenue declined 34.2% year over year. It earns a return on equity of -5.5%. Net debt stands at 61.1M CNY. Fundamentals as of Jul 22, 2026
Our scenario range runs from ¥6.02 (bear case) to ¥10.24 (bull case); at ¥15.68, 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 53% below its 52-week high and 11% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -7% fair-value upside, at -48%, 002623 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.
All 13 models by family
Widest divergence: Dividend Discount (¥10.52) versus Multiples (¥8.09). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 44 · Market factors (momentum, volatility) 26
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
Changzhou Almaden Co., Ltd. produces and sells photovoltaic glass coating and double-glass modules in China and internationally. The company offers solar glass, BIPV, photoelectric glass, and full bonding glass related products.
Full company description
Changzhou Almaden Co., Ltd. produces and sells photovoltaic glass coating and double-glass modules in China and internationally. The company offers solar glass, BIPV, photoelectric glass, and full bonding glass related products. It also provides coated conductive glass, atmospheric pressure and vacuum coated glass, and energy-saving and microelectronics glass products. In addition, the company is involved in design, installation, and technical development and technical consultation of related materials and equipment; and import and export of various commodities and technologies business. The company was founded in 2006 and is headquartered in Changzhou, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Changzhou Almaden Co reported revenue of ¥2.0B in FY2025 versus ¥2.0B in FY2021, a compound +0.1%/yr. Reported net income was −¥108M in FY2025.
002623 screens 48% overvalued. Compare with First Solar, Inc →
Peer Group
Solar · 119 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.
Valuation Multiples vs Solar median · lower = cheaper
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: 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.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Solar stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| First Solar, Inc FSLR | $221.03 | $284.45 | +29% |
| Nextpower Inc NXT | $111.50 | $69.61 | -38% |
| Waaree Energies Limited WAAREEENER | ₹2,923 | ₹3,613 | +24% |
| Tongwei Co 600438 | ¥13.08 | ¥12.13 | -7% |
| Jinko Solar Co 688223 | ¥4.39 | ¥4.75 | +8% |
| Hengdian Group 002056 | ¥21.64 | ¥22.76 | +5% |
| CSI Solar Co 688472 | ¥10.11 | ¥7.01 | -31% |
| Enphase Energy, Inc ENPH | $44.83 | $22.20 | -50% |
| Premier Energies Limited PREMIERENE | ₹1,086 | ₹912.32 | -16% |
| Trina Solar Co 688599 | ¥12.98 | ¥7.97 | -39% |
Compare Changzhou Almaden Co with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Technology stocks →
Frequently asked questions
Is Changzhou Almaden Co (002623) overvalued or undervalued?
What is the fair value of 002623?
What is the quality score of 002623?
What is the revenue of Changzhou Almaden Co (002623)?
What is the net profit margin of 002623?
Does Changzhou Almaden Co pay a dividend?
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.
Track Changzhou Almaden Co and try Pro for 14 days
One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.
Zero risk: nothing is ever charged. After 14 days you decide whether to stay.